Nifty:224672/135.1/0.61%;Candle:OGU,Doji; Bank Nifty:47578.85/453.65/0.96% Candle:OGU,Short day green ; HB:OGU,Long day green,1470,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-522;Opt98%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has not added any stock to the F&O ban list for April 2. Zee Entertainment Enterprises was removed from the said list.
Market wrap up(DWM,T,N,E):The market recorded healthy gains on the first day of April series and formed Doji candlestick pattern on the daily charts. Given the formation of such pattern at the record high levels, the market may either reverse some gains or consolidate at current levels, with immediate support at 22,300-22,200 levels, but in case of continuation of uptrend, 22,500-22,600 will be levels to watch on the higher side, experts said, adding the overall trend remains positive. On April 1, the benchmark indices gained for a third consecutive session. The BSE Sensex rallied 363 points to 74,015, while the Nifty 50 rose 135 points to 22,462. “Such Doji formation at new highs/after a reasonable upmove signal chances of consolidation or minor dip from the higher levels,” Any consolidation or dip could be a buying opportunity, The overall chart pattern remains positive, hence eventually, the Nifty could show a decisive upside breakout of 22,500 levels and the near-term upside target would be around 22,800, he said, adding immediate support is at 22,200 level. To maintain the upward momentum, Kunal Shah, senior technical & derivative analyst at LKP Securities also feels the index must decisively breach the 22,500 mark, paving the way for further gains towards 22,700/22,800 levels. Meanwhile, the volatility fell sharply during the day, making the trend favourabe for bulls. The India VIX, the fear index, dropped 5.84 percent to 12.08, the lowest level since December 13, 2023.
