Nifty:21995.85/-152.05/-0.69%;Candle:OGU,Long day red; Bank Nifty:47069.45/-415.35/-0.87% Candle:OGU,Long day red ; HB:OGd,Short day red,1595
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long32%FutCash;-4260;Opt92%
OI data Nifty ( max pain W22150M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Wipro, HDFC Asset Management Company, Jio Financial Services, Hindustan Zinc, Elecon Engineering, and KP Green Engineering will release their quarterly earnings scorecard on April 19
The NSE has added Exide Industries to the F&O ban list for April 19, while retaining Balrampur Chini Mills, Bandhan Bank, GNFC, Hindustan Copper, Vodafone Idea, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market may continue to consolidate and may again make an attempt to bounce back in the coming session considering the loss of 758 points on the Nifty 50 in previous four sessions, but overall, the sentiment is expected to be favourable for bears and hence experts advised for sell on rally strategy. If the index closes below the rising support trendline in the coming sessions, then next immediate support seen at 21,900 and crucial at 21,700 level, but in case of bounce back, the 22,200-22,300 is likely to be hurdle area on the higher side, experts said. It tested rising support trendline intraday. On April 18, the BSE Sensex declined 455 points to 72,489, while the Nifty 50 fell 152 points to 21,996 and formed long bearish candlestick pattern on the daily charts with above average volumes on the weekly expiry day. “The index tested the lower end of the ‘Channel’ in which it has been trading since last few weeks and thus, 21,950 is a crucial support for the short term. The RSI oscillator on the daily chart is negative indicating a negative short term momentum,” He feels if Nifty manages to trade within this channel, then we should see a pullback move from this support and if this is breached, then we could see an extension of this downmove towards the 89 DEMA, which is placed around 21,740. On the flipside, 22,330-22,380 is the immediate resistance on pullback move, he said. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, also said on the downside, the Nifty is now approaching the lower end of the rising channel and the 78.6 percent Fibonacci retracement level 22,000 – 21,938. Hence, “it will be a crucial level to watch out for during the next few trading sessions.” Meanwhile, India VIX, the fear index, extended uptrend for four days in a row, rising 3.36 percent to 13.04 level, making the bulls uncomfortable.
