Nifty:22596.5/-118.5/-0.52%;Candle:OGD,Long day red; Bank Nifty:48564.55/-422.05/-0.86% Candle:OGD,Doji ; HB:OGD,Doji,1521,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long56%FutCash;-8027;Opt93%
OI data Nifty ( max pain W22600M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:GTPL Hathway, Hathway Bhawani Cabletel & Datacom, Metalyst Forgings, Ontic Finserve, Rajoo Engineers, Hit Kit Global Solutions, Shekhawati Poly-Yarn, Atam Valves, and Sybly Industries will release their quarterly earnings on April 15.
The NSE has added GNFC, Metropolis Healthcare, and Piramal Enterprises to the F&O ban list for April 15, while retaining Balrampur Chini Mills, Hindustan Copper, Vodafone Idea, India Cements, National Aluminium Company, and SAIL to the said list. Exide Industries and Zee Entertainment Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):Given the long bearish candlestick pattern formation after the record high on the daily charts, and the formation of a small-bodied bearish candlestick pattern with a long upper shadow which resembles a Shooting Star kind of pattern on the weekly charts (not the ideal one) with a bearish divergence in momentum indicator RSI (relative strength index), as well as negative global cues, the market is likely to weaken further in coming sessions, experts said. According to them, the Nifty 50 may try to take a support at 22,300-22,200, and 22,000 is likely to be crucial support which coincides with upward sloping support trendline, while on the higher side, 22,750-22,800 is expected to be key resistance area going ahead. Shooting Star pattern formation at the top is a bearish reversal pattern but needs to watch follow-up candle for the confirmation. On April 12, the BSE Sensex tanked 793 points to 74,245, while the Nifty 50 plunged 234 points to 22,519, while for the week, the index was up 6 points. A long negative candle was formed on the daily chart, that has broken below the immediate support of ascending trend line at 22650 levels. Technically, this pattern indicates a formation of crucial top reversal pattern and one may expect more weakness in the coming sessions,” A small negative candle was formed on the weekly chart with an upper shadow, which indicates a reversal pattern formation as per daily as well as weekly timeframe charts. This is not a good sign for bulls, he feels. The volatility also jumped nearly 4 percent last Friday, but is still below crucial levels of 13-14 as surpassing these levels decisively can be a discomfort for bulls. The India VIX, the fear index, rose 3.82 percent to 11.53 level.
Nifty:22753.8/111.05/0.49%;Candle:OGU,Doji; Bank Nifty:48986.6/256.05/0.53% Candle:OGU,Doji ; HB:OGU,Short day red,1538,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long59%FutCash;2778;Opt96%
OI data Nifty ( max pain W22750M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Tata Consultancy Services: The country’s largest IT services company is set to release its quarterly as well as full year earnings scorecard on April 12. In addition, Anand Rathi Wealth will also announce its quarterly earnings on the same day.
The NSE has added Balrampur Chini Mills, and National Aluminium Company to the F&O ban list for April 12, while retaining Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment Enterprises to the said list. Bandhan Bank was removed from the said list.
Market wrap up(DWM,T,N,E):The market rebounded smartly and finally closed tad above the rising resistance trendline as well as continued higher highs, higher lows formation on the daily charts for a third straight session on April 10. If the index sustains above the resistance trendline and decisively surpasses 22,800 mark, then all eyes will be on much-awaited psychological 23,000 mark in the coming sessions, while the 22,600 is expected to be immediate support followed by 22,500 mark, experts said. The momentum remained in favour of bulls, though there was a moderate correction in previous session along with consistent volatility. On April 10, the BSE Sensex jumped 354 points to 75,038, while the Nifty 50 rose 111 points to 22,754 and formed bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility during the day, though the volume remained below the average. Technically, this pattern indicates a formation of high wave type candle pattern. But, having formed this pattern amidst sideways range, the predictive value of this pattern could be less, Nagaraj Shetti, senior technical research analyst at HDFC Securities said. The Nifty is currently placed at the hurdle of around 22,800 level (ascending resistance trend line and 1.618 percent Fibonacci extension). Though, Nifty is placed near the hurdle, still there is no sign of any reversal forming at the highs. A decisive move above 22,800 level is expected to open further upside momentum for the market ahead, Nagaraj said, adding immediate support is at 22,615 level. According to Rupak De, senior technical analyst at LKP Securities, since the market appears to be rangebound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures. The falling volatility to 5-month low also put bulls at more comfortable position. The India VIX, the fear gauge, declined 2.18 percent to 11.11, the lowest closing level since November 10, 2023.
Nifty:22642.75/-23.55/-0.1%;Candle:OGU,Long day red,; Bank Nifty:48730.55/148.85/0.31% Candle:OGU,Doji ; HB:OGU,Doji,1549,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long51%FutCash;-593;Opt100%
OI data Nifty ( max pain W22650M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Exide Industries, Hindustan Copper, Vodafone Idea, and India Cements to the F&O ban list for April 10, while retaining Bandhan Bank, SAIL, and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market expectedly reached the upward-sloping resistance trendline and hit the target of the 22,750-22,800 zone, but could not sustain record high levels due to profit booking. If the index manages to climb above the said zone, then 23,000 can’t be ruled out in coming sessions, but till then the said zone is expected to be a hurdle on the higher side and the index may consolidate with support at the 22,500 level, experts said. On April 9, the BSE Sensex was down 59 points at 74,684, while the Nifty 50 declined 24 points to 22,643 and formed a bearish candlestick pattern at the new all-time highs, on the daily charts with below-average volumes. Technically, “this pattern indicates tiredness for the market at the new highs. Nifty is currently placed near the crucial overhead resistance of ascending resistance line and also important Fibonacci extension around 22,750-22,800 levels,” Nifty placed at new highs and showing consolidation, there is still no confirmation of any significant top reversal pattern forming at the highs. At the same time, the upper area of 22,750-22,800 is expected to be a crucial overhead resistance for the short term, he said, adding immediate support is at the 22,500 level and a decisive break below this support could trigger short-term downward correction in the market. strong Put writing was observed at the 22,500 strike, which will act as strong support for the Index. However, unless Call writers exit from the 22,800 strikes, further upmove in the index is unlikely, he feels.
Nifty:22666.3/152.6/0.68%;Candle:OGU,; Bank Nifty:48581.7/88.65/0.18% Candle:OGU,Doji ; HB:OGU,Short day red,1548,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-684;Opt100%
OI data Nifty ( max pain W22600M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Bandhan Bank, SAIL, and Zee Entertainment Enterprises to the F&O ban list for April 9. However, Hindustan Copper was removed from the said list.
Market wrap up(DWM,T,N,E):Given the market climbing decisively above the previous week’s record high and closing above the upward-sloping resistance trendline, experts seem to be looking hopeful for further rally towards the 22,800 level on the Nifty 50 as surpassing the same can take the index to the much-awaited psychological 23,000 mark in coming sessions, with immediate support at 22,500 and key support at 22,300 level, experts said. On April 8, the market had a strong start to the week, though the trading volume remained below the average for yet another session. The benchmark indices ended at a new closing high with the BSE Sensex rising 494 points to 74,743, while the Nifty 50 jumped 153 points to 22,666 and formed a bullish candlestick pattern on the daily charts with the gap-up opening. “Technically, this pattern indicates a positive bias for the market ahead. Though Nifty placed at the new highs, still there is no signal of any reversal pattern building up at the highs,” Positive chart patterns like higher tops and bottoms are intact as per the daily chart and the present upmove is in line with the new higher top formation of the pattern. “Still, there is no confirmation of any higher top reversal completing at the highs. The short-term uptrend of the Nifty remains intact and the next upside levels to be watched are around the 22,800 mark (1.618 percent Fibonacci projection),” The daily and hourly momentum indicator has a positive crossover which is a buy signal. “The daily Bollinger bands are expanding indicating range expansion and with prices moving along the upper band suggests that there could be trending moves in the coming trading sessions,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas said.
Nifty:22513.7/-0.95/0%;Candle:OGD,Doji; Bank Nifty:48493.05/432.25/0.9% Candle:OF,Long day green ; HB:OGU,Long day green,1550,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long43%FutCash;1659;Opt95%
OI data Nifty ( max pain W22500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Bandhan Bank to the F&O ban list for April 8, while retaining Hindustan Copper, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market is expected to be volatile in the coming session with focus on the 22,550-22,600 area, the hurdle on the higher side, as closing decisively above the same zone may take the Nifty 50 towards 22,800, and then 23,000 mark, while 22,300-22,200 is the key support zone for the index, experts said, adding the declining volatility has been acting as a major comfort for the bulls. On April 5, the BSE Sensex was up 21 points at 74,248 after the Monetary Policy Committee maintained repo rate at 6.5 percent for seventh consecutive time, while the Nifty 50 fell 1 point to 22,514 and formed bullish candlestick pattern with lower shadow on the daily charts, indicating buying interest at lower levels. The Friday’s trade indicated that the market seemed to have already discounted the RBI policy meeting outcome. The index gained 0.84 percent for the week. “The current consolidation is likely to continue in the range of 22,200 to 22,550 levels for the next couple of days. A level of 22,300 is an immediate support to watch out for in the Nifty, while the bigger area of support zone stands at 22,150-22,200,” Tejas Shah, technical research at JM Financial & BlinkX said. Amol Athawale, vice president – technical at Kotak Securities is also of the view that, 22,200 or 20-day SMA would be the crucial support level for the traders. Above the same, the positive momentum is likely to continue. On the higher side, the market could find the resistance at 22,600-22,800, he said, adding on the other side, below 22,200 the sentiment could change. The India VIX, the fear gauge, gained 1 percent after declining for previous four consecutive sessions, while for the week, it was down 11.65 percent at 11.34, the lowest level since November 2023
Nifty:22514.65/60/0.36%;Candle:OGU,Short day red; Bank Nifty:48060.8/436.55/0.92% Candle:OGU,Short day red ; HB:OGU,Long day green,1529,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long43%FutCash;-1436;Opt92%
OI data Nifty ( max pain W22500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Hindustan Copper, SAIL and Zee Entertainment Enterprises to the F&O ban list for April 5.
Market wrap up(DWM,T,N,E):The recovery from day’s low of 22,300 and renewed buying interest in the last couple of hours of trading helped the market close above 22,500-mark for the first time on April 4. If the Nifty 50 manages to hold the same level, then 22,700-22,800 can be seen in the coming sessions, with support at 22,400-22,300 levels, experts said, adding overall, the outcome of Monetary Policy Committee meeting scheduled on April 5 will give further direction to the market. On April 4, the BSE Sensex rallied 351 points to 74,228 driven by technology and banking stocks, while the Nifty 50 jumped 80 points to end at record closing high of 22,515 and formed bearish candlestick pattern with long lower shadow on the daily charts, indicating strong buying interest at lower levels. Further, the index continued to trade above all key moving averages and strongly defended 10-day EMA (exponential moving average) of 22,300 level. “The prevailing trend, as indicated by the key moving averages and momentum indicators, suggests that bullish sentiment dominates the market,” “While the price action shows Nifty forming support at 22,500, its hold above this level will depend on RBI’s MPC announcement on April 5. A favourable commentary can propel the market towards 22,750. However, the downward move should be limited in case of an adverse commentary,” Minor degree pullbacks towards support zones should be used as a buying opportunity, The India VIX, the fear index, was down by 1.34 percent to 11.22, the lowest level since November 15 last year, falling for four days in a row and making the bulls more comfortable.
Nifty:22434.65/:18.65/:0.08%;Candle:OGD,Short day green; Bank Nifty:47624.25/78.8/0.17% Candle:OGD,Long day green ; HB:OGD,Short day green,1485.
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long44%FutCash;-1270;Opt90%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added SAIL and Zee Entertainment Enterprises to the F&O ban list for April 4, while retaining Hindustan Copper to the said list.
Market wrap up(DWM,T,N,E):The market continued to consolidate in a tight range for last three sessions, especially after hitting a new high on the Nifty 50 in the start of current week. Hence, unless and until the index decisively surpasses 22,500 in coming sessions, the consolidation may continue with the immediate support at 22,300 level, experts said, adding above 22,500, 22,700-22,800 are the levels to watch on the higher side. On April 3, the benchmark indices ended moderately lower after consolidation. The BSE Sensex declined 27 points to 73,877, while the Nifty 50 fell 19 points to 22,435 and formed bullish candlestick pattern with upper shadow on the daily charts, but overall, the indices still traded above all key moving averages. “The benchmark Nifty 50 seems confined in a narrow range of 200-250 odd points from 22,300-22,500 and a decisive breakthrough on either side would only trigger a fresh round of move,” said Osho Krishan, senior analyst – technical & derivative research at Angel One. On the lower end, he feels 22,350-22,300 remains the cushion for intraday blips, with sacrosanct support of 22,200 in the comparable period. While on the higher end, 22,500 remains a daunting task for the bulls, and a sustainable breakthrough could only trigger the next leg of the rally in the near term, he said. According to Ashwin Ramani, derivatives & technical analyst at Samco Securities, the Nifty is unlikely to move up unless Call writers exit from the 22,500 strike in Nifty Meanwhile, the consistent decline in India VIX, the fear index, for three consecutive sessions has put bulls in a comfortable position as it was down 2.4 percent at 11.37 level, the lowest level since November 24, 2023. The broader markets remained higher for yet another session as the Nifty Midcap 100 and Smallcap 100 indices gained half a percent and 1.2 percent respectively.
Nifty:22453.3/-8.7/-0.04%;Candle:OF,Short day green; Bank Nifty:47545.45/-32.8/-0.07% Candle:OF,Doji ; HB:OF,Short day green,1480,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long47%FutCash;-1622;Opt94%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper to the F&O ban list for April 3.
Market wrap up(DWM,T,N,E):The market has consolidated after three-day gains and closed moderately lower on April 2. The consolidation is likely to continue in the coming days too, especially ahead of the RBI policy meeting, with the Nifty 50 likely taking support at 22,300-22,200 in coming days, experts said, adding on the higher side, 22,500 is expected to be a key hurdle for the index as breaking of the same may take the index towards 22,700-23,000 levels. On April 2, the BSE Sensex was down 111 points at 73,904, while the Nifty 50 fell 9 points to 22,453, and formed a small bearish candlestick pattern with upper and lower shadows, which resembles Doji kind of candlestick pattern on the daily charts, indicating an indecisiveness among buyers and sellers about the future market trend. “There are no negative signs as of now as the short-term uptrend remains intact. It’s just that Monday’s record high is around the previous high of 22,525 and there has been open interest addition seen in the 22,500 Call option. Thus, the index consolidated for the day and it could trade within a range for one or two sessions,” On dips, he feels 22,300 would be seen as the immediate support while a move above 22,530 could lead to a continuation of the upmove towards 22,700-22,750. Hence, “traders are advised to trade with a positive bias and look for stock-specific buying opportunities,” he said. The volatility hit a fresh 2024’s closing low, giving more support to the bulls. The India VIX, the fear index, dropped 3.56 percent to 11.65, the lowest level since November 24, 2023. The broader markets outperformed benchmark indices and extended upward journey for yet another session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.2 percent each. . “Momentum also remains positive, as indicated by the RSI (relative strength index) in bullish crossover.”
Nifty:224672/135.1/0.61%;Candle:OGU,Doji; Bank Nifty:47578.85/453.65/0.96% Candle:OGU,Short day green ; HB:OGU,Long day green,1470,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-522;Opt98%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has not added any stock to the F&O ban list for April 2. Zee Entertainment Enterprises was removed from the said list.
Market wrap up(DWM,T,N,E):The market recorded healthy gains on the first day of April series and formed Doji candlestick pattern on the daily charts. Given the formation of such pattern at the record high levels, the market may either reverse some gains or consolidate at current levels, with immediate support at 22,300-22,200 levels, but in case of continuation of uptrend, 22,500-22,600 will be levels to watch on the higher side, experts said, adding the overall trend remains positive. On April 1, the benchmark indices gained for a third consecutive session. The BSE Sensex rallied 363 points to 74,015, while the Nifty 50 rose 135 points to 22,462. “Such Doji formation at new highs/after a reasonable upmove signal chances of consolidation or minor dip from the higher levels,” Any consolidation or dip could be a buying opportunity, The overall chart pattern remains positive, hence eventually, the Nifty could show a decisive upside breakout of 22,500 levels and the near-term upside target would be around 22,800, he said, adding immediate support is at 22,200 level. To maintain the upward momentum, Kunal Shah, senior technical & derivative analyst at LKP Securities also feels the index must decisively breach the 22,500 mark, paving the way for further gains towards 22,700/22,800 levels. Meanwhile, the volatility fell sharply during the day, making the trend favourabe for bulls. The India VIX, the fear index, dropped 5.84 percent to 12.08, the lowest level since December 13, 2023.
Nifty:22326.9/203.25/0.2%;Candle:OGU,Long day green; Bank Nifty:47124.6/338.65/0.72% Candle:OGU,Long day green ; HB:OGU,1448,Short day green,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;188;Opt%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Zee Entertainment Enterprises to the F&O ban list for April 1.
Market wrap up(DWM,T,N,E):The market momentum turned strong on the monthly F&O expiry day, March 28 as the Nifty 50 closed above 22,300 after recent consolidation. Hence, if the index manages to sustain 22,300, then a new record high can’t be ruled out in the coming sessions of the April series, while the 22,200 may be an immediate support, the 22,000 mark, experts said. On March 28, the BSE Sensex rallied 655 points to 73,651, while the Nifty 50 jumped 203 points to 22,327 and formed a bullish candlestick pattern with an upper shadow on the daily charts. The index firmly climbed above the downward-sloping resistance trendline with above-average volumes and is now traded above all key moving averages. “The Nifty has rallied significantly, surpassing the 22,500 mark (intraday) after maintaining momentum beyond 22,100. Furthermore, there’s a clear breakout in consolidation on the daily timeframe, signaling rising optimism,” Nevertheless, the Nifty encountered initial resistance near its previous swing high of 22,526. Consequently, to sustain a continued rally, it must surpass the 22,525 level decisively, while on the downside, 22,200 could serve as short-term support, he said.
