Nifty:%;Candle:OGD,Short day red; Bank Nifty:% Candle:OGD,Long day red ; HB:OGD,Short day red,1495,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long49%FutCash;-3268;Opt92%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:CRISIL, Den Networks, Integra Essentia, Lotus Chocolate Company, and SG Mart will release their quarterly earnings on April 16.
The NSE has added Bandhan Bank, Exide Industries, and Zee Entertainment Enterprises to the F&O ban list for April 16, while retaining Balrampur Chini Mills, GNFC, Hindustan Copper, India Cements, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, and SAIL to the said list. Vodafone Idea was removed from the said list.
Market wrap up(DWM,T,N,E):Given the nervousness across the globe amid Iran-Israel conflict and formation of bearish candlestick pattern on the daily charts with momentum indicator RSI (relative strength index) showing negative crossover (on daily as well as weekly scale), the market is expected to remain in control of bears and consolidation is likely to continue in the coming sessions with support at 22,200 level, experts said. The breaking of the same support can take the index down further to 22,000 mark, while on the higher side, 22,400-22,500 is expected to be key resistance area, experts added. On April 15, the BSE Sensex tanked 845 points to 73,400, while the Nifty 50 dropped 247 points or 1.1 percent to 22,273 and formed bearish candlestick pattern with upper shadow on the daily charts. “In the coming session, it will be crucial to see if the index manages to take support around the 40 DEMA (days exponential moving average) which is placed around 22,200. This will be an important level for a pullback move in the index,” said Ruchit Jain, lead research at 5paisa.com. Below 22,200, the next supports are placed around 22,000 which is the channel (trendline) support followed by the 89 DEMA at 21,720, he feels. On the higher side, the index needs to surpass 22,500 for a resumption of the uptrend, he said. Hence, he advised traders to stay light on trading positions and be very selective in stock specific trades.Rupak De, senior technical analyst at LKP Securities, also feels the short-term sentiment appears bearish, although a significant decline isn’t anticipated at present. Instead, the index is likely to fluctuate between 22,200 and 22,400, he said. The broader markets have seen more correction compared to benchmarks. The Nifty Midcap 100 and Smallcap 100 indices declined 1.6 percent and 1.7 percent, respectively.
