Nifty:22753.8/111.05/0.49%;Candle:OGU,Doji; Bank Nifty:48986.6/256.05/0.53% Candle:OGU,Doji ; HB:OGU,Short day red,1538,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long59%FutCash;2778;Opt96%
OI data Nifty ( max pain W22750M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Tata Consultancy Services: The country’s largest IT services company is set to release its quarterly as well as full year earnings scorecard on April 12. In addition, Anand Rathi Wealth will also announce its quarterly earnings on the same day.
The NSE has added Balrampur Chini Mills, and National Aluminium Company to the F&O ban list for April 12, while retaining Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment Enterprises to the said list. Bandhan Bank was removed from the said list.
Market wrap up(DWM,T,N,E):The market rebounded smartly and finally closed tad above the rising resistance trendline as well as continued higher highs, higher lows formation on the daily charts for a third straight session on April 10. If the index sustains above the resistance trendline and decisively surpasses 22,800 mark, then all eyes will be on much-awaited psychological 23,000 mark in the coming sessions, while the 22,600 is expected to be immediate support followed by 22,500 mark, experts said. The momentum remained in favour of bulls, though there was a moderate correction in previous session along with consistent volatility. On April 10, the BSE Sensex jumped 354 points to 75,038, while the Nifty 50 rose 111 points to 22,754 and formed bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility during the day, though the volume remained below the average. Technically, this pattern indicates a formation of high wave type candle pattern. But, having formed this pattern amidst sideways range, the predictive value of this pattern could be less, Nagaraj Shetti, senior technical research analyst at HDFC Securities said. The Nifty is currently placed at the hurdle of around 22,800 level (ascending resistance trend line and 1.618 percent Fibonacci extension). Though, Nifty is placed near the hurdle, still there is no sign of any reversal forming at the highs. A decisive move above 22,800 level is expected to open further upside momentum for the market ahead, Nagaraj said, adding immediate support is at 22,615 level. According to Rupak De, senior technical analyst at LKP Securities, since the market appears to be rangebound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures. The falling volatility to 5-month low also put bulls at more comfortable position. The India VIX, the fear gauge, declined 2.18 percent to 11.11, the lowest closing level since November 10, 2023.
