Gift Nifty:% FII Long18%FutCash;-4026;Opt99% DII:3640
OI data Nifty ( max pain WM)
OI data Bank Nifty (max pain W M)
News:
Events/Results:
Stocks added to F&O ban: IndiaMART InterMESH, Punjab National Bank
Stocks retained in F&O ban: Aditya Birla Fashion & Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies, L&T Finance, Manappuram Finance, Mahanagar Gas, RBL Bank
Stocks removed from F&O ban: Angel One, Kalyan Jewellers
Market wrap up(DWM,T,N,E):The Nifty 50 bounced back after a day of steep correction, rising 0.6 percent on January 22. However, considering the deterioration in market breadth and sharp selling pressure in the broader markets, along with the continuation of the lower tops-lower bottoms formation, there is an indication of weakness. The Nifty 50 seems to be in the broader range of 23,000–23,400 levels. Hence, if the index decisively breaks the upper range, renewed buying interest could lift the index toward 23,600. Conversely, breaking the lower range could take the index down toward 22,800, which is the near-term target on the downside, according to experts. The Nifty 50 formed a small bullish candlestick pattern with a long lower shadow on the daily timeframe, indicating buying interest at lower levels. The index also defended the downward sloping support trendline for another session, which is a positive sign. However, the overall trend remains under the control of bears, given that the index is trading below all key moving averages with a negative bias in momentum indicators. The Bank Nifty recovered 650 points from the day’s low to close with a gain of 153 points, forming a small-bodied bullish candlestick pattern with a long lower shadow, resembling a Dragonfly Doji-like candlestick pattern on the daily timeframe. This is a trend reversal pattern, raising the possibility of an upward trend. Furthermore, the index also defended the upward sloping support trendline on a closing basis, which is another positive sign. Still, the overall sentiment remains negative, as the index traded well below all key moving averages.
