Nifty:21929.4/157.7/0.72%;Candle:OGU,Short day green; Bank Nifty:45690.8/134.75/0.29% Candle:OF,Short day red ; HB:OF,Doji,1444,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long37%FutCash;92;Opt96%
OI data Nifty ( max pain W21900M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Tata Consumer Products, Power Grid Corporation of India, Nestle India, Lupin, Manappuram Finance, Apollo Tyres, Ashoka Buildcon, Borosil Renewables, Cummins India, General Insurance Corporation of India, JK Paper, Parag Milk Foods, Protean eGov Technologies, Sobha, Trent, and Zuari Agro Chemicals will release December quarter earnings scorecard on February 7.
The NSE has added Ashok Leyland to the F&O ban list for February 7, while retaining Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, UPL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):With the healthy bounceback after a day of correction, the market seems to be on positive footing and negated the formation of Shooting Star kind of bearish reversal pattern last Friday. Hence, if the Nifty 50 manages to fill the big bearish gap created on January 17 by climbing over 21,970, then 22,126, the record high level can’t be ruled out in coming sessions, experts said, adding the crucial support remains at 21,600-21,500 area. On February 6, the BSE Sensex jumped 455 points to 72,186, while the Nifty 50 rose 158 points at 21,929 and formed bullish candlestick pattern on the daily charts, which almost engulfed the bearish candle of Monday. “This pattern is signalling that the bearish candle pattern formation of last two sessions (Friday and Monday) could be nullified soon. This is positive indication,” Minor positive pattern like higher tops and bottoms is intact and the market is now on the way up towards the new higher top formation at new all- time highs. The crucial opening downside gap of January 17 is now placed at the verge of decisive upside breakout at 21,970 levels, he feels. Immediate support is at 21,750 and the next overhead resistance to be watched around 22,125 levels, he said. atin Gedia, technical research analyst at Sharekhan by BNP Paribas, also feels both price and momentum indicators are suggesting towards continuation of the positive momentum. However, considering the recent sharp reversals from the upper boundary (22,000) one needs to be cautious on the long side, he warned.
