Nifty:22200.55/-17.3/-0.08%;Candle:OGU,Short day red; Bank Nifty:47687.45/172/0.36% Candle:OGU,Short day red ; HB:OGU,1441,short day red,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long28%FutCash;-2833;Opt88%
OI data Nifty ( max pain W22200M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Mahindra and Mahindra, GAIL (India), Vodafone Idea, Biocon, CONCOR, Crompton Greaves Consumer Electricals, Hindustan Aeronautics, KIMS, Info Edge
The NSE has added Biocon, Granules India, India Cements, and LIC Housing Finance to the F&O ban list for May 16, while retaining Balrampur Chini Mills, Birlasoft, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list. Canara Bank was removed from the said list.
Market wrap up(DWM,T,N,E):The market is expected to remain consolidative unless and until it decisively surpasses 22,300, the key hurdle for the Nifty 50, in the coming sessions, but the mood at broader markets remain strong. The index is likely to march towards 22,500-22,600 area if it gives a strong close above 22,300 and manages to sustain above the same for few more days, while the 22,000 is going to be key support area and is unlikely to get broken in an immediate term, experts said. On May 15, the BSE Sensex ended the volatile session on a negative note, falling 118 points to 72,987, while the Nifty 50 was down 17 points at 22,201 and formed bearish candlestick pattern with minor upper and lower shadows on the daily timeframe, indicating the choppy trade in the index. Both the indices had maintained upward journey in the previous three straight sessions. “One is required to have a pragmatic approach of the ‘buy on dips’ and ‘sell on the rise’ until we see a decisive participation of the bulls in carrying momentum,” Simultaneously, he feels the resilience of 20 DEMA (days exponential moving average placed at 22,300) is expected to act as a daunting task for the bulls in the near period, and an authoritative breach could only dictate the next leg of rally in the index. On the lower end of the spectrum, the support lies around 22,150-22,100, which is expected to cushion any intraday blips, followed by the sacrosanct support at 22,000 mark, he said. the Nifty is in a pullback mode and has witnessed a brief pause around 22,308 levels where the 50 percent Fibonacci retracement level of the recent fall is placed. the pullback has more steam left and in case of a dip towards 22,130 – 22,100 it should be used as a buying opportunity. On the upside immediate resistance is placed at 22,308 – 22,422, he said. Meanwhile, on the broader markets front, the Nifty Midcap 100 and Smallcap 100 indices gained 1 percent and 0.6 percent respectively on positive breadth
