Nifty:22217.85/113.8/0.51%;Candle:OF,Long day green; Bank Nifty:47859.45/105.35/0.22% Candle:OF,Doji ; HB:OF,1461,Short day green,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long30%FutCash;-4066;Opt89%
OI data Nifty ( max pain W22200M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Birlasoft to the F&O ban list for May 15, while retaining Balrampur Chini Mills, Canara Bank, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list. Punjab National Bank was removed from the said list.
Market wrap up(DWM,T,N,E):The momentum, which has picked up pace, especially after hitting the low around 21,800 and continued for three days in a row, is expected to be seen in the coming sessions too. The Nifty 50 inched closer to 22,300 on May 14 and the same is expected to be a hurdle on the higher side as closing above the same can take the index to 22,400-22,500, with support at 22,100-22,000 levels, experts said. The higher high, higher low formation, defending the rising support trendline and the uptrend in momentum indicator RSI (relative strength index rising to 47 from 38 levels on May 9) are some of key factors that supported the momentum. On May 14, the BSE Sensex rallied 328 points to 73,105, while the Nifty 50 rose 114 points to 22,218 and formed a bullish candlestick pattern on the daily charts. “On intraday charts, it is holding higher bottom formation, which is largely positive. We are of the view that the index has completed one leg of pullback rally and now 50-day SMA or 22,300 would act as key resistance areas for the bulls,” For traders, he feels above 22,300, the next hurdle would be 22,400-22,425. On the flip side, fresh selloff is possible only after dismissal of 22,100 as below which, the index could retest the level of 22,050-22,000, he said. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels the upmove is likely to continue till 22,308 – 22,423 which is the 50 percent and 61.82 percent Fibonacci retracement level of the previous fall. On the downside, 22,040 – 22,000 is a crucial support from short-term perspective, he said. The broader markets outperformed the benchmark indices as the Nifty Midcap 100 and Smallcap 100 indices gained 1 percent and 2 percent respectively.
