Nifty:22368/31.6/0.14%;Candle:OGU,Short day red; Bank Nifty:47970.45/45.55/0.1% Candle:OGU,Short day red ; HB:OGU,1511
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;-3044;Opt%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Hindustan Unilever, Axis Bank, LTIMindtree, Nippon Life India Asset Management, Macrotech Developers, Syngene International, 5paisa Capital, Anant Raj, AU Small Finance Bank, Chennai Petroleum Corporation, Dalmia Bharat, DCB Bank, Equitas Small Finance Bank, Indian Hotels, MAS Financial Services, Oracle Financial Services Software, and Supreme Petrochem will be in focus ahead of quarterly earnings on April 24.
The NSE has retained Hindustan Copper, Vodafone Idea, and Zee Entertainment Enterprises to the F&O ban list for April 24. Biocon, Piramal Enterprises, and SAIL were removed from the said list.
Market wrap up(DWM,T,N,E):Considering the significant fall in volatility, may be with the hope of easing geopolitical tensions a bit and continuation of higher highs, higher lows formation along with the index trading above all key moving averages, the market may continue its northward journey in the coming sessions with resistance at 22,400 (which coincides with the 61.8 percent Fibonacci retracement) and 22,500 levels on the Nifty, experts said. The 22,200 level can act as a support to the index, they added. On April 23, the benchmark indices faced profit booking at higher levels and closed the volatile session with moderate gains, extending the upward journey for third consecutive session. The BSE Sensex rose 90 points to 73,738, while the Nifty 50 climbed 32 points to 22,368 and formed bearish candlestick pattern on the daily charts as the closing was lower than opening levels. “A minor resistance at the 61.8 percent Fibonacci retracement around 22,400 in the Nifty is expected to overcome, leading to a rally towards 22,500-22,600 levels,” Om Mehra, technical analyst at Samco Securities said. The RSI (relative strength index) is holding the 50 level strongly. Immediate support remains at 22,250 and any short-term retracement will be seen as a buying opportunity, he said. The options data also indicated that 22,400-22,500 is expected to be hurdle where decent open interest has seen. The immediate support for the index is placed around 22,200 followed by 22,030-22,000 zone, Ruchit Jain, lead research at 5paisa.com said The market breadth remained positive for yet another session as three shares advanced for every two falling shares on the NSE. Meanwhile, the India VIX, the domestic gauge for volatility, has dipped 19.72 percent to 10.2, the lowest level in nearly 9 months, which provided comfort to bulls.
