Nifty:21717.95/212.55/0.97%;Candle:OGU; Bank Nifty:45012/-806.5/-1.76% Candle:OGU, Long day red; HB:OF,1407,Long day red,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;-4934;Opt%
OI data Nifty ( max pain W21750M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Hero MotoCorp, Tata Power Company, Honasa Consumer, Zydus Lifesciences, Alkem Laboratories, Bandhan Bank, Campus Activewear, Cello World, DOMS Industries, Emami, Finolex Cables, Indian Railway Finance Corporation, MRF, The New India Assurance Company, Pfizer, PI Industries, Shree Renuka Sugars and Sundaram-Clayton will release December quarter earnings on February 9.
Oil and Natural Gas Corporation, Aurobindo Pharma, Divis Laboratories, Multi Commodity Exchange of India, Amber Enterprises India, Flair Writing Industries, Jagran Prakashan, TVS Electronics, Updater Services and Uflex will be releasing December quarter earnings on February 10.
The NSE has added Aurobindo Pharma, Biocon, and Punjab National Bank to the F&O ban list for February 9, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, SAIL and UPL to the said list. However, Zee Entertainment Enterprises was removed from the said list.
Market wrap up(DWM,T,N,E):Bears returned to power at Dalal Street after the expected RBI policy meeting outcome and dragged the Nifty 50 below the 10-day EMA (exponential moving average – 21,750), which acted as a support in the recent past. The Nifty50 may see some more selling pressure in coming days but 21,500 is expected to be a crucial support to watch out for, experts said, adding as long as the 21,500 holds, the index may rebound and remain ranged at 21,500-22,126 levels. On February 8, the banking & financial services, auto and FMCG stocks pulled the market down. The BSE Sensex plunged 724 points or 1 percent to 71,428, while the Nifty 50 dropped 212.5 points to 21,718 and formed a long bearish candlestick pattern on the daily charts with higher volumes. After the repeated testing of the key overhead resistance of the previous opening downside gap of January 17 at 21,970 levels in the last 3-4 sessions, the bulls seem to have given up eventually and the market declined from the highs on Thursday,” Nagaraj Shetti, senior technical research analyst, HDFC Securities said. He feels the short-term trend of Nifty seems to have turned down and one may expect some more weakness in the short term. “The near-term uptrend of the market remains intact and further weakness down to the immediate support of 21,550-21,500 levels could be a buying opportunity,” he said.
