Nifty:22402.4/34.4/0.15%;Candle:OGU,Doji; Bank Nifty:48189/218.55/0.46% Candle:OGU,Doji ; HB:OGU,Doji,1512
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long31%FutCash;-2512;Opt%
OI data Nifty ( max pain W22350M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Bajaj Finance, IndusInd Bank, Nestle India, Tech Mahindra, Vedanta, ACC, L&T Technology Services, AAVAS Financiers, Coromandel International, Cyient, Glenmark Life Sciences, Himadri Speciality Chemical, Laurus Labs, Mphasis, Olectra Greentech, Schaeffler India, Tanla Platforms, Tata Teleservices (Maharashtra), UTI Asset Management Company, and Zensar Technologies will release quarterly earnings on April 25.
The NSE has added Aditya Birla Fashion & Retail, and SAIL to the F&O ban list for April 25, while retaining Hindustan Copper to the said list. Vodafone Idea, and Zee Entertainment Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):The market reached to the critical resistance level of 61.8 percent Fibonacci retracement and a bearish gap (created on April 15), i.e. 22,400 level on the Nifty 50 and bulls continued upward journey for four days in a row on April 24 ahead of expiry of April derivative contracts. The index has been facing hurdle at 22,450-22,500 levels on the higher side, hence if the index decisively closes above 22,500-mark, then record high levels can be achievable in coming sessions, with support at 22,300, experts said. Till the index trades below 22,500 consolidation is likely to continue, they added. On April 24, the BSE Sensex rose 114 points to 73,853, while the Nifty 50 climbed 34 points to 22,402 and formed small bearish candlestick pattern with minor upper shadow, which to some extent resembles Doji kind of pattern on the daily charts. “This pattern typically signals uncertainty, particularly as it coincides with a critical resistance level of 61.8 percent retracement and a bearish gap. Going ahead, the 22,500 level remains a significant resistance on the monthly expiry day, but a sustained trade above 22,500-22,550 could trigger further upward movement, potentially driven by contract adjustments,” Conversely, he feels immediate support levels are identified at 22,300-22,250, with a pivotal support zone around the bullish gap of 22,200-22,180. Traders should closely monitor these levels, as a period of consolidation may precede a directional move on the expiry day, he advised. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, a brief consolidation is likely to continue considering the sharp run-up. “The hourly momentum indicator has a negative crossover which also suggests some consolidation before it starts a new cycle on the upside.” The broader markets continued to outperform frontline indices as the Nifty Midcap 100 and Smallcap 100 indices gained 0.8 percent and 0.4 percent, respectively. Meanwhile, the India VIX, the fear gauge, rebounded 0.78 percent to close at 10.28 level, after falling nearly 20 percent in previous session.
