Nifty:21731.4/-47.3/-0.22%;Candle:OGD,Doji; Bank Nifty:48292.25/-216.3/-0.45% Candle:OGD,Doji ; HB:OGD,1709.Short day green,
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Gift Nifty:% FII Long%FutCash;1460;Opt%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
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The NSE has added Hindustan Copper to its F&O ban list for January 1.
Market wrap up(DWM,T,N,E):Bulls took a breather, which was on expected lines, after run-up in the previous five consecutive sessions, with the benchmark indices falling marginally on December 29, the first day of January series and final trading day of 2023. Going ahead, the Nifty 50 is expected to consolidate for few more days before getting into strong mood again. Overall, the bulls are still at a healthy position and can lift the index towards 22,000 in the short term, with support at 21,700-21,500 levels, experts said , On December 29, the BSE Sensex was down 170 points at 72,240, while the Nifty 50 declined 47 points to 21,731 and formed Doji candlestick pattern on the daily scale, indicating indecision amongst bulls and bears about future market trend. “Normally, such formations after a reasonable rise alert for trend reversal. But, having formed this pattern beside the bull candle of Thursday, one may expect range-bound action or consolidation movement to continue in the market,” A long bull candle was formed on the weekly chart, that has surpassed the high wave type candle pattern of the previous week. This is a positive indication, “There is a possibility of short-term consolidation or range movement for the next 1-2 sessions before resuming its upside momentum in the coming sessions. Immediate support is placed at 21,550 and the next upside targets are to be watched around 22,000-22,200 levels,” However, the Nifty 50 has the potential to inch gradually towards the 22,150 zone. So traders should use the consolidation phase to add quality names on dips, he advised. the broader markets outperformed benchmark indices and the breadth was slightly in favour of advances. The Nifty Midcap 100 and Smallcap 100 indices gained 0.8 .
