Nifty:22336.4/189.4/0.86%;Candle:OGU,Short day green; Bank Nifty:47924.9/350.75/0.74% Candle:OGU,Doji ; HB:OGU,Short day red,1516,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long34%FutCash;-2915;Opt96%
OI data Nifty ( max pain W-2915M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Tata Consumer Products, Tata Elxsi, ICICI Prudential Life Insurance Company, Mahindra & Mahindra Financial Services, Mahindra EPC Irrigation, Multi Commodity Exchange of India, 360 ONE WAM, Cyient DLM, Huhtamaki India, LKP Securities, and NELCO will be in focus ahead of March FY24 quarter earnings on April 23.
The NSE has added Hindustan Copper to the F&O ban list for April 23, while retaining Biocon, Vodafone Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list. Balrampur Chini Mills, Bandhan Bank, Exide Industries, and Metropolis Healthcare were removed from the said list.
Market wrap up(DWM,T,N,E):Given the continuation of uptrend with higher high, higher low formation and closing above crucial 22,300 mark, the Nifty 50 is likely to climb towards 22,400-22,500 levels in coming days with support at 22,200-22,000 zone, experts said, adding if the index reclaims and holds 22,500, then a march towards record high can’t be ruled out. On April 22, the benchmark indices extended their upward journey for second consecutive session with the BSE Sensex rising 560 points to 73,649. The Nifty 50 climbed 189 points to 22,336 and formed Dragonfly Doji kind of candlestick pattern on the daily charts as the closing was near opening levels, indicating the indecisiveness among bulls and bears about further market trend. “Having formed this pattern after one day of upmove, this doesn’t signal any significant alertness for bulls at the highs,” Nifty has moved above the initial hurdle at 22,300 levels and is expected to encounter strong resistance at 22,500 levels (opening downside gap of April 15) in the short term, he said, adding if Nifty manages to sustain above 22,500, then the market could even reach new all time highs in the near term. “Immediate support is at 22,260 levels.” Meanwhile, Rajesh Bhosale, technical analyst at Angel One, advised traders to remain vigilant and avoid complacent bets. “Key levels to monitor for Nifty are around 22,400 – 22,500, coinciding with a bearish gap and the key 61.8 percent retracement level, while the bullish gap around 22,200 – 22,150 is expected to provide immediate support,” The sharp fall in volatility also put the bulls at comfortable position. The India VIX, the fear gauge, fell by 5.62 percent to 12.70 level, after rising for previous five days in a row, while the market breadth was positive as nearly three shares advanced for every one falling share on the NSE.
