Nifty:22032.3/-65.15/-0.29%;Candle:OF,Short day red; Bank Nifty:48125.1/-33.2/-0.07% Candle:OF,Doji ; HB:OF,Short day green,1679,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;657;Opt96%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Asian Paints, LTIMindtree, ICICI Prudential Life Insurance Company, Happiest Minds Technologies, Alok Industries, Oracle Financial Services Software, Hindustan Media Ventures, IIFL Finance, Speciality Restaurants, Som Distilleries & Breweries, Steel Strips Wheels, Star Housing Finance, Ganesh Housing Corporation, and Moschip Technologies will release December FY24 quarter earnings scorecard on January 17.
A total of 15 stocks are in the F&O ban list for January 17. The NSE has added Aditya Birla Fashion & Retail, Ashok Leyland, and National Aluminium Company to the said list while retaining Bandhan Bank, Biocon, Chambal Fertilisers & Chemicals, Delta Corp, Hindustan Copper, India Cements, Indus Towers, Metropolis Healthcare, Piramal Enterprises, Polycab India, PVR INOX, and Zee Entertainment Enterprises to the said list. BHEL, Escorts Kubota, and SAIL were removed from the said list.
Market wrap up(DWM,T,N,E):The market has retreated some gains on profit taking and weak global cues, and formed Tweezer Top kind of candlestick pattern on the Nifty 50 on January 16, which is a bearish reversal pattern formed at the top. The confirmation will be seen in the follow-up candle. Tweezer top candlestick occurs when the high points of two candlesticks remain the same after an uptrend. Hence, experts expect consolidation and normal profit booking to continue in the index with immediate support at 21,900-21,800 and crucial support at 21,500 mark, given the recent rally towards a new high, whereas in case of rebound, the immediate hurdle is expected to be at 22,200 levels. On January 16, the benchmark indices snapped five-day gains. The BSE Sensex was down 199 points at 73,129, while the Nifty 50 fell 65 points to 22,032 and formed bearish candlestick pattern on the daily charts. “The Nifty witnessed a Tweezer-top candlestick formation near the 21,125 levels, which is a bearish reversal pattern. However, 21,970, 21,830, and 21,640 are strong support levels,” Only below the 20-DMA of 21,640, he expects profit booking in the market, where 21,450 and 21,000 are the next support levels. On the upside, 22,222 will be the next hurdle, he said. Omkar Patil, technical & derivatives analyst – institutional equity at Ashika Group said a buy on dip strategy must be emphasized as long as 21,600 is protected on the downside. The broader markets also corrected in line with frontline indices. The Nifty Midcap 100 and Smallcap 100 indices were down 0.4 percent and 0.5 percent, respectively.
