Nifty:22453.3/-8.7/-0.04%;Candle:OF,Short day green; Bank Nifty:47545.45/-32.8/-0.07% Candle:OF,Doji ; HB:OF,Short day green,1480,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long47%FutCash;-1622;Opt94%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper to the F&O ban list for April 3.
Market wrap up(DWM,T,N,E):The market has consolidated after three-day gains and closed moderately lower on April 2. The consolidation is likely to continue in the coming days too, especially ahead of the RBI policy meeting, with the Nifty 50 likely taking support at 22,300-22,200 in coming days, experts said, adding on the higher side, 22,500 is expected to be a key hurdle for the index as breaking of the same may take the index towards 22,700-23,000 levels. On April 2, the BSE Sensex was down 111 points at 73,904, while the Nifty 50 fell 9 points to 22,453, and formed a small bearish candlestick pattern with upper and lower shadows, which resembles Doji kind of candlestick pattern on the daily charts, indicating an indecisiveness among buyers and sellers about the future market trend. “There are no negative signs as of now as the short-term uptrend remains intact. It’s just that Monday’s record high is around the previous high of 22,525 and there has been open interest addition seen in the 22,500 Call option. Thus, the index consolidated for the day and it could trade within a range for one or two sessions,” On dips, he feels 22,300 would be seen as the immediate support while a move above 22,530 could lead to a continuation of the upmove towards 22,700-22,750. Hence, “traders are advised to trade with a positive bias and look for stock-specific buying opportunities,” he said. The volatility hit a fresh 2024’s closing low, giving more support to the bulls. The India VIX, the fear index, dropped 3.56 percent to 11.65, the lowest level since November 24, 2023. The broader markets outperformed benchmark indices and extended upward journey for yet another session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.2 percent each. . “Momentum also remains positive, as indicated by the RSI (relative strength index) in bullish crossover.”
Nifty:224672/135.1/0.61%;Candle:OGU,Doji; Bank Nifty:47578.85/453.65/0.96% Candle:OGU,Short day green ; HB:OGU,Long day green,1470,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-522;Opt98%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has not added any stock to the F&O ban list for April 2. Zee Entertainment Enterprises was removed from the said list.
Market wrap up(DWM,T,N,E):The market recorded healthy gains on the first day of April series and formed Doji candlestick pattern on the daily charts. Given the formation of such pattern at the record high levels, the market may either reverse some gains or consolidate at current levels, with immediate support at 22,300-22,200 levels, but in case of continuation of uptrend, 22,500-22,600 will be levels to watch on the higher side, experts said, adding the overall trend remains positive. On April 1, the benchmark indices gained for a third consecutive session. The BSE Sensex rallied 363 points to 74,015, while the Nifty 50 rose 135 points to 22,462. “Such Doji formation at new highs/after a reasonable upmove signal chances of consolidation or minor dip from the higher levels,” Any consolidation or dip could be a buying opportunity, The overall chart pattern remains positive, hence eventually, the Nifty could show a decisive upside breakout of 22,500 levels and the near-term upside target would be around 22,800, he said, adding immediate support is at 22,200 level. To maintain the upward momentum, Kunal Shah, senior technical & derivative analyst at LKP Securities also feels the index must decisively breach the 22,500 mark, paving the way for further gains towards 22,700/22,800 levels. Meanwhile, the volatility fell sharply during the day, making the trend favourabe for bulls. The India VIX, the fear index, dropped 5.84 percent to 12.08, the lowest level since December 13, 2023.
Nifty:22326.9/203.25/0.2%;Candle:OGU,Long day green; Bank Nifty:47124.6/338.65/0.72% Candle:OGU,Long day green ; HB:OGU,1448,Short day green,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;188;Opt%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Zee Entertainment Enterprises to the F&O ban list for April 1.
Market wrap up(DWM,T,N,E):The market momentum turned strong on the monthly F&O expiry day, March 28 as the Nifty 50 closed above 22,300 after recent consolidation. Hence, if the index manages to sustain 22,300, then a new record high can’t be ruled out in the coming sessions of the April series, while the 22,200 may be an immediate support, the 22,000 mark, experts said. On March 28, the BSE Sensex rallied 655 points to 73,651, while the Nifty 50 jumped 203 points to 22,327 and formed a bullish candlestick pattern with an upper shadow on the daily charts. The index firmly climbed above the downward-sloping resistance trendline with above-average volumes and is now traded above all key moving averages. “The Nifty has rallied significantly, surpassing the 22,500 mark (intraday) after maintaining momentum beyond 22,100. Furthermore, there’s a clear breakout in consolidation on the daily timeframe, signaling rising optimism,” Nevertheless, the Nifty encountered initial resistance near its previous swing high of 22,526. Consequently, to sustain a continued rally, it must surpass the 22,525 level decisively, while on the downside, 22,200 could serve as short-term support, he said.
Nifty:22123.65/118.95/0.54%;Candle:OGU,Doji; Bank Nifty:46785.95/185.75/0.4% Candle:OGU, Short day green; HB:OGU,1444;Long day green
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long31%FutCash;2170;Opt93%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper and Zee Entertainment Enterprises to the F&O ban list for March 28. SAIL was removed from the said list
Market wrap up(DWM,T,N,E):The market gained strength amid recent consolidation and climbed above the downward-sloping resistance trendline on a closing basis. If the Nifty 50 sustains above the same trendline in the coming days, then the index may take a leap towards record highs in coming sessions with support on the downside at the 21,900 mark, experts said. On March 27, the benchmark indices recouped all the previous day’s losses. The BSE Sensex rallied 526 points to 72,996, while the Nifty 50 was up 119 points at 22,124 ahead of the expiry of March derivative contracts and formed a bullish candlestick pattern on the daily charts. Now, the index traded above all key moving averages. “On Wednesday, the Nifty 50 moved up above 22,100 and closed above it as well. The short-term momentum appears positive, supported by a crossover in the RSI (relative strength index 14) indicator. The trend is likely to remain positive as long as it stays above 22,000,” Rupak De, senior technical analyst at LKP Securities said. On the higher end, it could potentially move towards 22,300 and beyond in the short term, he feels. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also believes that the retracement rally has more steam left and he expects the momentum to continue. On the broader markets front, the Nifty Midcap 100 index was up 0.06 percent and Smallcap 100 index rose nearly 1 percent.
Nifty:22004.75/-92.05/-0.42%;Candle:OGD,Doji; Bank Nifty:46600.2/-263.55/-0.56% Candle:OGD,Doji ; HB:OGD,Long day red,1426,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;10;Opt96%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained SAIL to the F&O ban list for March 27. Biocon, Tata Chemicals and Zee Entertainment Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):The market is expected to remain rangebound in the coming sessions too, with the Nifty 50 likely facing hurdle at 22,100-22,200 levels on the higher side, while the immediate support may be at 21,900, followed by 21,800 level, experts said, adding the breaking of the said range on either side can give firm direction to the index. On March 26, the BSE Sensex was down 362 points at 72,470, while the Nifty 50 fell 92 points to 22,005 and formed bullish candlestick pattern with long upper shadow on the daily charts, which was formed within the body of previous day’s candle, indicating a broader rangebound action for the market. “At the lows, the area of 21,900 is offering strong support for the market and the Nifty is facing stiff resistance at the highs around 22,150-22,200 levels. Hence, a decisive move beyond this range is likely to open sharp movement for the market on either side,” He feels the overall long-term chart pattern remains positive and that indicates a possibility of upside breakout in the near term. For an optimistic outlook, Om Mehra, technical analyst at Samco Securities feels the Nifty needs to close above the middle Bollinger band around the 22,180-22,200 zone and until Nifty surpasses these levels, it may be advisable to opt for a sell-on-rise strategy. However, the broader markets continued to outperform benchmark indices as the Nifty Midcap 100 index rose 1 percent and Smallcap 100 index gained 0.4 percent.
Nifty:22096.75/84.8/0.39%;Candle:OGD,Long day green; Bank Nifty:46863.7/178.85/0.38% Candle:OF,Short day green, ; HB:OF,Short day red,1443,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;-3310;Opt%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Biocon, SAIL, Tata Chemicals and Zee Entertainment Enterprises to the F&O ban list for March 26. Balrampur Chini Mills, Indus Towers, and Piramal Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E ):Though the market rebounded nearly 400 points from the low of last week, it is expected to be rangebound and volatile in the coming truncated week, experts said, adding the key hurdle on the higher side is expected to be 22,300 and the crucial support is likely to be 21,700 on the Nifty 50. The breaking of either side of the range can give firm direction to the market, while the monthly F&O expiry-led volatility is also likely to be seen. On March 22, the BSE Sensex climbed 191 points to 72,832, while the Nifty 50 gained 85 points at 22,097 and formed bullish candlestick pattern on the daily charts with above average volumes, while on the weekly scale, the index formed small bullish candle with long lower shadow which resembles Hammer kind of pattern (not a classic one). The index rose 0.3 percent during the week. “The recent pullback from the lows of 21,710 appears to be overlapping and hence we conclude that it is a retracement of the fall and not the beginning of a new leg of upmove,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas said. He feels the Nifty is likely to consolidate in the range 22,300 – 21,700 in the absence of any near term triggers ahead of the quarterly results announcement which starts during the third week of April. Shilpa Rout, AVP – Derivatives Research at Prabhudas Lilladher also agreed with Jatin, saying the support for Nifty now stands around 21,700 and the resistance is very strongly placed around 22,300. “Until we breach either side of the range, the same kind of volatility might continue.” The volatility dropped for third consecutive session, making the bulls more comfortable. India VIX, the fear index, declined 2.34 percent to 12.22 from 12.51 levels, while the Nifty Midcap 100 and Smallcap 100 indices gained six tenth of a percent each.
Nifty:22011.95/172.85/0.79%;Candle:OF,Doji; Bank Nifty:46684.9/374/0.81% Candle:OGU,Doji ; HB:OGU,Doji,1445
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;-1827;Opt96%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Market wrap up(DWM,T,N,E):The market recorded healthy gains and successfully reclaimed the 50-day EMA (exponential moving average) on March 21 after a Doji candlestick pattern formation in the previous session, indicating a strong bullish reversal. Hence, the Nifty 50 is likely to march towards the 22,100-22,300 zone initially with support at 21,700 and once it manages to sustain above 22,300 then a rally towards record highs can’t be ruled out, experts said. On March 21, the BSE Sensex jumped 540 points to 72,641, while the Nifty 50 rose 173 points to 22,012 after a positive opening and formed small-bodied bullish candlestick pattern with upper and lower shadow on the daily charts. The buy-on-dips strategy is expected to remain viable as long as the Nifty maintains levels above 21,840, he advised. Shrikant Chouhan, head of equity research at Kotak Securities expects that 21,950 would act as a trend decider level above which the bull run is likely to continue. “On the higher side, short-term resistance lies at 22,150-22,200. However, below 21,950 traders may prefer to exit from the trading long positions,” said Chouhan. The declining volatility also supported the market, giving confidence to bulls. The India VIX, the fear index, fell by 7.12 percent to the 12.51 level, while the BSE Midcap and Smallcap indices gained more than 2.4 percent each. The NSE has added SAIL to the F&O ban list for March 22, while retaining Balrampur Chini Mills, Biocon, Indus Towers, Piramal Enterprises, Tata Chemicals and Zee Entertainment Enterprises on the said list. Hindustan Copper and RBL Bank were removed from the said list.
Nifty:21839.1/21.65/0.1%;Candle:OF,Doji; Bank Nifty:46310.9/-73.9/-0.16% Candle:OF,Doji ; HB:OF,Long day red,1532
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long31%FutCash;-2599;Opt95%
OI data Nifty ( max pain W21850M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Tata Chemicals to the F&O ban list for March 21, while retaining Balrampur Chini Mills, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, and Zee Entertainment Enterprises on the said list. BHEL and SAIL were removed from the said list.
Market wrap up(DWM,T,N,E):Given the smart recovery from the day’s low and the formation of the Doji candlestick pattern on the daily charts on March 20 after a large bearish candle in the previous session, the market may see some pullback rally but the sustainability of the same is the key to watch as overall sentiments are still weak, experts said, adding the index may face immediate resistance at 21,900-22,000 levels with support at 21,700 mark. On March 20, the BSE Sensex rose 90 points to 72,102, while the Nifty 50 was up 22 points at 21,839. Doji candlestick pattern means the closing is similar to opening levels, indicating the tug-of-war between bulls and bears for further market trend, and this can also act as a trend reversal pattern. “Normally, a Doji after a reasonable up move or down move calls for impending trend reversals. Having formed a Doji after a minor downtrend, the chance of a minor pullback rally is likely,” Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart. Hence, any upside bounce from here is expected to be a lower top formation in the short term. He feels the near-term trend of Nifty remains weak. “Further up move from here could find strong overhead resistance around 22,150-22,200 levels in the next few sessions and this is likely to be a sell-on-rise opportunity. Immediate support is at 21,700,” he said.
Nifty:21817.45/-238.25/-1.08%;Candle:OGD,Long day red; Bank Nifty:46384.8/-191.1/-0.41% Candle:OGD,Doji ; HB:OGD,Long day green,1450,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;1421;Opt97%
OI data Nifty ( max pain W21900M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Indus Towers to the F&O ban list for March 20, while retaining Balrampur Chini Mills, BHEL, Biocon, Hindustan Copper, Piramal Enterprises, RBL Bank, SAIL and Zee Entertainment Enterprises on the said list. Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company and Tata Chemicals were removed from the said list.
Market wrap up(DWM,T,N,E):With the increasing weakness in the market after the breaking down of the consolidation range as well as upward sloping support trendline and 50-day EMA (exponential moving average placed at 21,865), the market participants seem to be cautious now. If the Nifty 50 fails to hold on to the 21,800 level in coming sessions, then is likely to extend a southward journey initially towards the 21,700 mark and then at 21,500, experts said, adding that in the case of a bounce back, the index may face resistance at 22,000 and 22,200 levels. On March 19, the BSE Sensex lost 736 points or 1.01 percent to end the day at 72,012, while the Nifty 50 fell 238 points or 1.08 percent to 21,817 and formed a long bearish candlestick pattern on the daily charts with above-average volumes. The index has also broken the higher highs and higher lows formation on the daily charts by falling below 21,860 indicating more weakness. “The Nifty has broken down from the rising wedge pattern on the daily chart, suggesting a potential reversal of the uptrend. Additionally, it has fallen below the critical short-term moving average, indicating weakening momentum,” The relative strength index (RSI) has also shown a bearish crossover, indicating increasing selling pressure. “Key levels to watch include resistance at 22,000 and support at 21,800. A drop below 21,700 could lead to further correction in the Nifty,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels daily and hourly momentum indicator has a negative crossover, which is a sell signal. “The next crucial support level comes in at 21,740 and below that potentially towards 21,530,”
Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels daily and hourly momentum indicator has a negative crossover, which is a sell signal. “The next crucial support level comes in at 21,740 and below that potentially towards 21,530,” Gedia added.
However, he believes that the Nifty is at the fag end of the fall and the selling may not be that sharp. The Nifty Midcap 100 and Smallcap 100 indices declined 1.2 percent each on weak breadth.
Nifty:22055.7/32.35/0.15%;Candle:OGD,doji; Bank Nifty:46575.9/-18.2/-0.04% Candle:OGD,Green doji ; HB:OGD,Doji,Vol last session,1446
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long37%FutCash;-2051;Opt99%
OI data Nifty ( max pain W22050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Balrampur Chini Mills to the F&O ban list for March 19, while retaining Aditya Birla Fashion & Retail, BHEL, Biocon, Hindustan Copper, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market remained uncertain in trend with consistently taking support at 21,900 level and resistance at 22,200 mark for third consecutive session on March 18 after sharp correction on March 13, which overall indicates that the benchmark indices may be waiting for the outcome of central bank meetings (US, Japan and Bank of England) scheduled later this week. Hence, 21,900-21,850 is expected to act as a support for the Nifty 50 as breaking down of the same can bring more selling pressure, but trading consistently above 22,200 can strengthen the bulls for a move towards record high, experts said. On March 18, the market had a choppy session as some buying interest in second half helped the benchmark indices close moderately higher. The BSE Sensex rose 105 points to 72,748, while the Nifty 50 gained 32 points at 22,056 and formed small bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility. On March 18, the market had a choppy session as some buying interest in second half helped the benchmark indices close moderately higher. The BSE Sensex rose 105 points to 72,748, while the Nifty 50 gained 32 points at 22,056 and formed small bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility. On the contrary, he feels the 22,180-22,000 zone is likely to provide resilience, followed by 22,300. The undertone remains bearish biases until an assertive move is seen beyond the mentioned resistances, he said. However, the broader markets underperformed frontline indices, as the Nifty Midcap 100 and Smallcap 100 indices fell 0.4 percent and 0.6 percent respectively.
