Nifty:22604.85/-38.55/-0.17%;Candle:OF,Short day red; Bank Nifty:49396.75/-27.3/-0.06% Candle:OF,Shooting star ; HB:OF,1516,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;1071;Opt%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
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Events/Results:coal indai, Federal bank,adani ent,adani port, ajanta pharma, south indain bank, blue dart, blue start, ceat,cie automot, dabur, coforge,ugro cap,jbm, railtel corp,
The NSE has retained Biocon and Vodafone Idea to the F&O ban list for May 2.
Market wrap up(DWM,T,N,E):The market took a U-turn from its lifetime highs on April 30 as participants seemed to have turned cautious ahead of the outcome of US Federal Reserve meeting and a mid-week holiday. But overall, the sentiment remains positive as the index traded above all key moving averages, and as long as the Nifty 50 holds key support of 22,300, the upward rally towards 23,000 may resume once again after likely consolidation in immediate term, experts said. The US Federal Reserve maintained interest rates steady at 5.25-5.50 percent on May 1 and signaled it is still leaning towards eventual reductions in borrowing cost. According to experts, the consolidation, if any, in immediate term, will be on expected lines especially after hitting a new high, and if the index breaks 22,300, then selling pressure may extend towards 22,000 level. On April 30, the BSE Sensex fell 189 points to 74,483, while the Nifty 50 shed 180 points from its record high and ended with 39 points losses at 22,605 and formed bearish candlestick pattern on the daily charts. The index opened strong and rallied 140 points before turning lower in the last hour. The market was shut on May 1 for Maharashtra day. “From a technical standpoint, the Nifty index looks subtle, hovering above its 20 DEMA and nothing significant has changed on the levels front from the previous session. Therefore, traders are advised to maintain a positive stance and view dips as potential buying opportunities, instilling a sense of optimism,” In this scenario, he feels immediate support is likely to shift higher towards the 22,500 mark, followed by 22,400, coinciding with 20 DEMA. On the contrary, the lifetime high zone around 22,775 – 22,800 is expected to serve as immediate resistance before the index heads toward the 23,000 mark, he said. Significant Call writing was observed at the 22,800 strike in the Nifty 50. The Put writers cut their exposure at the 22,700 strike towards the last hour of the day which led the down move in Nifty. The option activity at the 22,800 strike will provide cues about Nifty’s direction ahead of the weekly expiry on Thursday, May 2, said Ashwin Ramani, derivatives & technical analyst at Samco Securities. Meanwhile, the volatility, which surged significantly in the past five sessions, also seems to have put the bulls at uncomfortable positions. The India VIX, the fear index, jumped 5.2 percent to 12.87 levels on April 30, and jumped 26 percent in last five consecutive sessions.
