Nifty:21544.85/31.85/0.15%;Candle:OGU,Long day red; Bank Nifty:47242.65/-207.6/-0.44% Candle:OGU,Long day red, ; HB:OGU,Long day red,1651
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long64%FutCash;-990;Opt100%
OI data Nifty ( max pain W21600M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, and SAIL to its F&O ban list for January 10, while Zee Entertainment Enterprises removed from the said list.
Market wrap up(DWM,T,N,E):The market seems to be struggling hard to hold on to the 21,500 mark, the immediate support level as bears made several attempts in the recent past to break the said support but bulls strongly resisted and helped the Nifty 50 to close above the same mark. Hence, as long as the index holds the said support, rangebound trade is expected to continue with resistance at 21,750-21,850 levels, experts said. If the index breaks 21,500, then possibly there may be strong action from bears, they added. On January 9, the benchmark indices had a strong opening after a day of correction but erased most of gains in last hour of trade and finally settled with moderate gains due to profit taking at higher levels. Overall, the indices traded within the previous day’s range. The BSE Sensex was up 31 points at 71,386, while the Nifty 50 gained 32 points at 21,545 and formed bearish candlestick pattern on the daily charts as the closing was lower than opening levels. “Technically, this is negative indication and signal occurrence of sharp weakness from the overhead hurdles around 21,750 levels,” The Nifty 50 has now started to visit the immediate supports of 10-day EMA (exponential moving average 21,565) frequently, after showing minor upside bounces. The said moving average was intact since past two months and a decisive break below this support at 21,500 could trigger more weakness ahead, Further, he feels the short-term trend of Nifty remains weak and emergence of selling pressure at the lower highs around 21,750-21,850 levels indicate weak bias for the short term. “Any upside bounce from here could encounter hurdle around 21,700 levels.” ny significant directional movement for Nifty hinges on two possibilities: achieving a closing above 21,750 to reclaim bullish momentum, or experiencing a close below 21,500, which could prompt additional selling pressure and potentially pull the Nifty index toward the 21,200 mark. he market breadth was slightly tilted in favour of bulls as about 1,198 equity shares advanced against 965 declining shares on the NSE.
