Nifty:22453.3/-8.7/-0.04%;Candle:OF,Short day green; Bank Nifty:47545.45/-32.8/-0.07% Candle:OF,Doji ; HB:OF,Short day green,1480,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long47%FutCash;-1622;Opt94%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper to the F&O ban list for April 3.
Market wrap up(DWM,T,N,E):The market has consolidated after three-day gains and closed moderately lower on April 2. The consolidation is likely to continue in the coming days too, especially ahead of the RBI policy meeting, with the Nifty 50 likely taking support at 22,300-22,200 in coming days, experts said, adding on the higher side, 22,500 is expected to be a key hurdle for the index as breaking of the same may take the index towards 22,700-23,000 levels. On April 2, the BSE Sensex was down 111 points at 73,904, while the Nifty 50 fell 9 points to 22,453, and formed a small bearish candlestick pattern with upper and lower shadows, which resembles Doji kind of candlestick pattern on the daily charts, indicating an indecisiveness among buyers and sellers about the future market trend. “There are no negative signs as of now as the short-term uptrend remains intact. It’s just that Monday’s record high is around the previous high of 22,525 and there has been open interest addition seen in the 22,500 Call option. Thus, the index consolidated for the day and it could trade within a range for one or two sessions,” On dips, he feels 22,300 would be seen as the immediate support while a move above 22,530 could lead to a continuation of the upmove towards 22,700-22,750. Hence, “traders are advised to trade with a positive bias and look for stock-specific buying opportunities,” he said. The volatility hit a fresh 2024’s closing low, giving more support to the bulls. The India VIX, the fear index, dropped 3.56 percent to 11.65, the lowest level since November 24, 2023. The broader markets outperformed benchmark indices and extended upward journey for yet another session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.2 percent each. . “Momentum also remains positive, as indicated by the RSI (relative strength index) in bullish crossover.”
