Nifty:21710.8/52.2/0.24%;Candle:OF,Doji; Bank Nifty:48159/-36.85/-0.08% Candle:OF,Short day red ; HB:OF,Short day red,1684,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long67%FutCash;1696;Opt97%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Piramal Enterprises to its F&O ban list for January 8, while retaining Balrampur Chini Mills, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Indian Energy Exchange, India Cements, National Aluminium Company, SAIL and Zee Entertainment Enterprises to the said list. Hindustan Copper was removed from the said list.
Market wrap up(DWM,T,N,E):The market is expected to be volatile and likely to consolidate with a hurdle on the higher side at 21,800-21,850 levels and strong support at 21,500 mark. If the index manages to decisively surpass the hurdle, then 22,000 can’t be ruled out in coming days, but the breaking of support can push the index down up to 21,400-21,300 levels, experts said. On January 5, the BSE Sensex climbed 179 points to 72,026, while the Nifty 50 was up 52 points at 21,711 and formed Doji candlestick pattern on the daily charts, as the closing was near its opening levels. This indicated indecisiveness among bulls and bears about the future market trend. “Normally, Doji formations at the highs calls for caution for longs. But, the formation of this pattern amidst range movement, hence the sharp negative implication can’t be expected,” He feels the short-term uptrend status of Nifty remains intact, but the market is likely to find resistance around 21,800-21,850 levels in the coming sessions. “A decisive move only above 21,850-21,900 levels could open the next upside target of 22,200 levels. Any dips from here could find support around 21,500,” The falling volatility also supported the market as the fear index India VIX was down 5.25 percent to 12.63 levels, while the broader markets closed positive with the Nifty Midcap 100 and Smallcap 100 indices rising 0.2 percent and 0.65 percent respectively.
