Nifty:22023.35/-123.3/-0.56%;Candle:OGD,Short day red; Bank Nifty:46594.1/-195.85/-0.42% Candle:OGD,Doji ; HB:OGD,Doji,1452,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long38%FutCash;848;Opt97%
OI data Nifty ( max pain W22050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Biocon, and Hindustan Copper to the F&O ban list for March 18, while retaining Aditya Birla Fashion & Retail, BHEL, 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):After the recent sharp decline, the market remained volatile and is expected to remain rangebound with negative bias in the coming sessions too. In fact, the range has been narrowed with support, so far, remaining at 21,900, which overall suggests that if Nifty 50 decisively breaks down the same support, then the selling pressure may get intensified up to 21,500, while the hurdle on the higher side, in case of rebound, may be seen at 22,200, experts said. On March 15, the BSE Sensex was down 454 points at 72,643, while the Nifty 50 fell 123 points to 22,023 and formed small bodied bearish candlestick pattern with upper and lower shadows on the daily charts, indicating some sort of volatility, while on the weekly scale, the index corrected for the first time in last five consecutive weeks, down 2 percent and formed long bearish candlestick pattern which resembles Bearish Engulfing kind of pattern on the weekly timeframe.
Market wrap up(DWM,T,N,E):After the recent sharp decline, the market remained volatile and is expected to remain rangebound with negative bias in the coming sessions too. In fact, the range has been narrowed with support, so far, remaining at 21,900, which overall suggests that if Nifty 50 decisively breaks down the same support, then the selling pressure may get intensified up to 21,500, while the hurdle on the higher side, in case of rebound, may be seen at 22,200, experts said. On March 15, the BSE Sensex was down 454 points at 72,643, while the Nifty 50 fell 123 points to 22,023 and formed small bodied bearish candlestick pattern with upper and lower shadows on the daily charts, indicating some sort of volatility, while on the weekly scale, the index corrected for the first time in last five consecutive weeks, down 2 percent and formed long bearish candlestick pattern which resembles Bearish Engulfing kind of pattern on the weekly timeframe. he short term and the near-term trend of Nifty remains weak. “A decisive move below 21.900 could open sharp weakness down to the next lower support of 21,500 levels in the near term. Immediate resistance is at 22,200 levels,” he said. Further, the Nifty has once again closed below the rising trendline, bringing market sentiment back into a state of weakness. The momentum indicator suggests bearish momentum in the near term. “Immediate support is situated currently at 21,900, which is expected to provide support for the Nifty. A decisive drop below 21,900 could lead to a sharp decline in the index,” Rupak De, senior technical analyst at LKP Securities said.
Nifty:22146.65/148.95/0.68%;Candle:OF,Long day green; Bank Nifty:46789.95/-191.35/-0.41% Candle:OGD,Doji ; HB:OF,Short day red,1453,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long39%FutCash;-1356;Opt93%
OI data Nifty ( max pain W22150M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added BHEL to the F&O ban list for March 15, while retaining Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list. Hindustan Copper was removed from the said ban list.
Market wrap up(DWM,T,N,E):Bulls staged a strong comeback after a day of a bear attack, but the uptrend needs to be sustainable and hence only a strong and consistent close above the 22,200-22,300 area can give an upward direction to the Nifty 50 towards 22,500-22,600 levels, till then 21,900-21,860 may act as a support to the index as breaking the same key support can increase the possibility of a sharp downward move, experts said. On March 14, the BSE Sensex rallied 335 points to 73,097, while the Nifty 50 jumped 149 points to 22,147 and formed a bullish candlestick pattern on the daily charts while defending 21,860, the key level for breaking down the higher highs, higher lows formation. “Despite the resurgence of speculative activity, caution is advised as the market still appears to be in uncertain territory. It’s important to observe the weekly close in the upcoming session to confirm the trend,” the Nifty continues to face resistance around the 22,200-22,300 zone, which marks a breakdown level and a 61.8 percent retracement of the recent decline, the index might see a return of weakness in the following week. “In such a scenario, Nifty could revisit the 21,900 – 21,850 zone, which corresponds to significant swings on the hourly chart and coincides with the 50EMA on the daily chart. Below these levels, there could be another wave of intense selling.” Currently, the immediate trading range is between 21,850 and 22,300, he said. Ruchit Jain, lead research at 5paisa.com also feels as of now, it is difficult to assess whether the worst is over just based on one day’s upmove. Hence, follow-up moves will be important to see and thus he advised traders to stay cautious and prefer a stock-specific approach. The broader markets also rebounded after a sharp cut in the previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 2.15 percent and 3.5 percent, respectively.
Nifty:21997.7/-338/-1.51%;Candle:OGU,Long day red; Bank Nifty:46981.3/-301.1/-0.64% Candle:OF,Short day red ; HB:OGU,Short day red, 1460
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long40%FutCash;-4595;Opt95%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added RBL Bank to the F&O ban list for March 14, while retaining Aditya Birla Fashion & Retail, Hindustan Copper, Manappuram Finance, National Aluminium Company, Piramal Enterprises, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list. Mahanagar Gas was removed from the said ban list.
Market wrap up(DWM,T,N,E):With the nervousness across large-, mid- and small-caps, the bears are expected to keep control over Dalal Street in the coming sessions too. If the Nifty 50 decisively breaks the 21,860 level (the key level for the continuation of higher highs and higher lows formation), then 21,700-21,500 can be the levels to watch going ahead, but if the index manages to rebound, it may face a hurdle at 22,200-22,300 on the higher side, experts said. On March 13, the bloodbath in broader markets on overvaluation concerns raised by the market regulator dented sentiment. The Sensex plunged 906 points to 72,762, while the Nifty 50 fell 338 points or 1.51 percent (the biggest single-day correction since January 23) to 21,998, and formed a large bearish candlestick pattern on the daily charts. The Nifty has experienced a breakdown from a rising channel on the daily chart, signalling the conclusion of the previous uptrend and the potential beginning of a downtrend. Additionally, the index has descended below the recent consolidation phase on the daily timeframe, further emphasizing the increasing weakness. “The relative strength index (RSI) with a period of 14 is showing a bearish crossover and has dropped below the 50 mark. In the short term, the index may continue to be susceptible to selling pressure with resistance anticipated around 22,250. On the downside, support levels are positioned at 21,800 and 21,700,” After the turmoil, Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas changed the short-term outlook to sideways and feels the range of consolidation is likely to be 21,500 – 22,300. The broader markets saw major selling pressure with the Nifty Midcap 100 index falling 4.4 percent and Smallcap 100 declining 5.3 percent. About 23 shares declined for every rising share on the NSE.
Nifty:22335.7/3.05/0.01%;Candle:OF,Doji; Bank Nifty:47282.4/-45.45/-0.1% Candle:OF,Doji ; HB:Of,Long day green,1461,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long43%FutCash;73;Opt99%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company, and Piramal Enterprises to the F&O ban list for March 13, while retaining Aditya Birla Fashion & Retail, Hindustan Copper, Manappuram Finance, Mahanagar Gas, SAIL, Tata Chemicals, and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):After witnessing weakness at the top and shifting into volatility, the market is expected to remain choppy in the coming sessions too, with support at around 22,200-22,100 levels, experts said. In case of strength, the Nifty 50 may face hurdle at 22,500 on the higher side, they added. On March 12, the BSE Sensex rose 165 points to 73,668, while the Nifty 50 gained three points at 22,336, and formed Doji candlestick pattern on the daily charts as the closing was near opening levels. “Normally, such Doji pattern after a reasonable upside or downside movement calls for an impending trend reversal. But having formed this pattern after one session of weakness doesn’t imply any significant prediction of the pattern,” there is a possibility of some more weakness amidst choppy movement in the next 1-2 sessions before witnessing another round of upside bounce from the lower levels. “Immediate support is at 22,150-22,100 levels.” Rajesh Bhosale, a technical analyst at Angel One, advised traders to monitor crucial resistance levels, particularly the stiff immediate hurdle around 22,500 – 22,550, which aligns with the upper boundary of the Rising Wedge formation. Conversely, “despite the absence of significant selling pressure, prices are approaching key support levels, notably the 20-day EMA (exponential moving average) near 22,200, followed by crucial support at 22,000, marking the lower end of the Rising Wedge and a potential bearish reversal trigger point,” he said. The broader markets underperformed frontline indices as the breadth was largely in favour of declines. The Nifty Midcap 100 and Smallcap 100 indices fell 1.4 percent and 2 percent, respectively.
Nifty:22332.65/-160.9/-0.72%;CandleOF,Long day red:; Bank Nifty:47327.85/-507.95/-1.06% Candle:OF,Long day red, ; HB:OGD,Long day red,1427,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long41%FutCash;4213;Opt97%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Aditya Birla Fashion & Retail, and Hindustan Copper to the F&O ban list for March 12, while retaining Manappuram Finance, Mahanagar Gas, SAIL, Tata Chemicals, and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market started the week on a negative note, but experts considered it as a normal profit booking after the recent upward rally. Hence, the consolidation is likely to continue in the coming days with support at 22,300-22,000, while 22,500 is expected to be a key hurdle on the higher side as above the same 22,600-22,800 can be the possibility, experts said. On March 11, the BSE Sensex plunged 617 points to 73,503, while the Nifty 50 declined 161 points to 22,333 and formed a long bearish candlestick pattern which indicates a reversal of the previous two sessions of upmove and resembles the Evening Star kind of pattern formation at the top (not an exactly one). “Generally, this pattern indicates short-term top reversal for the markets,” Nagaraj Shetti, senior technical research analyst at HDFC Securities said. He feels the short-term trend of Nifty seems to have turned down and the next lower levels to be watched around 22,100-22,050 levels. “Intraday resistance is at 22,525,” Shetti added. Shrikant Chouhan, head equity research at Kotak Securities also feels the chart pattern indicates temporary weakness is likely to continue shortly, though the short-term texture of the market is still on the positive side. The broader markets, too, were under pressure as the Nifty Midcap 100 index was down 0.4 percent and Nifty Smallcap 100 index fell 2 percent, while the India VIX jumped for the first time in eight consecutive sessions, rising 2.8 percent to 14 level.
Nifty:22493.55/19.5/0.09%;Candle:OF,Doji,; Bank Nifty:47835.8/-129.6/-0.27% Candle:OF,Short day red, ; HB:OF,Doji,1446,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long42%Fu4tCash;7304;Opt98%
OI data Nifty ( max pain W22500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Tata Chemicals and SAIL to the F&O ban list for March 11, while retaining Manappuram Finance, Mahanagar Gas, and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market is most likely to continue its northward journey in the coming sessions with next resistance at 22,600-22,800 area, given the continuation of higher highs, higher lows and bullish rising three method pattern formation along with positive bias in momentum indicators, experts said, adding 22,400-22,300 is expected to act as an immediate support for the Nifty 50. On March 7, the benchmark indices closed off day’s high but ended at new record closing high. The BSE Sensex rose 33 points to 74,119, while the Nifty 50 climbed 20 points to 22,494 and formed small bodied bearish candlestick pattern with lower shadow on the daily charts. “Technically, this pattern indicates breather type formation post sharp upside breakout of Wednesday. The bullish rising three method pattern is still intact, and one may expect further upside in the near term,” the upside targets to be watched around 22,800 levels in the next one week (1.618 percent Fibonacci projection of long-term up and down swings). “Immediate support is at 22,310 levels.” the Nifty to maintain the prevailing tone and gradually inch toward 22,800. Traders should maintain stock-specific trading approach and prefer index majors and large midcaps for long trades, The volatility decline maintained downtrend for the seventh consecutive session, making the trend favourable for bulls. The India VIX, the fear gauge, dropped 4.77 percent to 13.61, from 14.30 levels.
Nifty:22474.05/117.75/0.53%;Candle:OGD,Long day green; Bank Nifty:47965.4/384.4/0.81% Candle:OGD,Long day green ; HB:OGD,Short day green,1443,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long40%FutCash;2767;Opt96%
OI data Nifty ( max pain W22400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Manappuram Finance, and Mahanagar Gas to the F&O ban list for March 7, while retaining Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market almost moved closer to its immediate hurdle of 22,500 and also climbed back above the upward sloping resistance trendline on the Nifty 50, following rebound in last couple of hours of trade on March 6. This indicates the bulls retained upper hand over Dalal Street and are likely to lift Nifty towards 22,600-22,700, the immediate area of resistance, with support at 22,400-22,200 levels, experts said. On March 6, the benchmark indices ended at a new closing high with the BSE Sensex rising 409 points to 74,086, while the Nifty 50 recovered 250 points from day’s low and ended at 22,474, up 118 points, forming long bullish candlestick pattern on the daily charts with above average volumes. Also the index defended 10-day EMA (exponential moving average placed at 22,270). The derivatives data indicates short positions outstanding in the index futures segment while the RSI (relative strength index) readings are positive. The index has continued the ‘higher top higher bottom’ structure. This could lead to a short covering of such positions which could lead the indices higher, Ruchit Jain, lead research at 5paisa.com said. immediate support for Nifty is now placed around 22,200 while the retracements indicate possible targets around 22,700. Thus, he advised traders to continue to trade with a positive bias till the index trades above its support. Rupak De, senior technical analyst at LKP Securities, too, feels the short-term trend appears positive, as the index concluded the day above the 21-day EMA (22,120) on the daily chart. “Looking ahead, there is potential for the Nifty to reach levels between 22,600 and 22,700 on the higher end,” he said. The volatility dropped further with the India VIX falling 0.59 percent to 14.30, giving support to bulls. The VIX fell for sixth consecutive session. However, the broader markets remained under pressure, with the Nifty Midcap 100 index declining half a percent and Smallcap 100 down 2 percent.
Nifty:22356.3/-49.3/-0.22%;Candle:OGD,Doji; Bank Nifty:47581/124.9/0.26% Candle:OGD,Short day green ; HB:OGD,Long day green,1441,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long35%FutCash;574;Opt97%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Zee Entertainment Enterprises on the F&O ban list for March 6
Market wrap up(DWM,T,N,E):Given the ongoing tug-of-war between bulls & bears, the market is likely to consolidate further in the coming sessions, though overall trend remains positive, experts said, adding the 22,200 is expected to be immediate support for the Nifty 50 followed by 22,000 mark, with hurdle on the higher side at 22,500 mark. On March 5, the benchmark indices snapped four-day winning streak with the BSE Sensex falling 195 points to 73,677, while the Nifty 50 declined 49 points to 22,356 and formed small bearish candlestick pattern with upper and lower shadows, which resembles Doji kind of candlestick pattern (not exactly on) on the daily charts with lower high, lower low formation, indicating the possibility of some weakness in the near term. “We can see some correction towards 22,200 where support is seen as per the options data. Positionally, the 40 DEMA which has not been breached in the recent corrective phase is now placed around 21,860 and thus the support base is gradually shifting higher,” On the higher side, he feels the resistance is expected around the 22,500 mark followed by 22,700. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, the hourly momentum indicator has a negative crossover however has reached the equilibrium line indicating that the fall may have matured and once this consolidation has completed the upmove is likely to resume. Meanwhile, India VIX was down by 3.63 percent from 14.92 to 14.38 levels. Volatility cooled off after steaming in the previous week and paved way for the bulls in the market for buy on decline stance, Chandan Taparia, senior vice president | analyst-derivatives at Motilal Oswal The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices down 0.3 percent and 1.2 percent, respectively.
Nifty:22405.6/27.2/0.12%;Candle:OF,Doji; Bank Nifty:47456.1/158.6/0.3% Candle:OF,Short day green ; HB:OF,Doji,1433,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long38%FutCash;-564;Opt100%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Zee Entertainment Enterprises on the F&O ban list for March 5.
Market wrap up(DWM,T,N,E):Technically, the overall sentiment remains in favour of bulls given the continuation of higher highs formation and the index staying above upward sloping resistance trendline, but the formation of Doji candlestick pattern at the top on March 4 indicates the possibility of consolidation in the coming sessions with support at 22,200 level, and the Nifty 50 may face hurdle at 22,500 on the higher side, followed by 22,600 level, experts said. On March 4, the benchmark indices continued an uptrend for the fourth consecutive session and ended at a record closing high with the BSE Sensex rising 66 points to 73,872, while the Nifty 50 climbed 27 points to 22,406 amid consolidation. “All short-term moving averages, particularly the 20-day moving average, served as immediate support. The Bollinger bands are expanding in the daily chart, with 22,500 being a psychological level that the Nifty may attempt to test,” Despite the formation of a Doji candle on the daily chart, Kunal Shah, senior technical & derivative analyst at LKP Securities believes the overall sentiment remains bullish. “On the downside, support is established at 22,200, presenting buying opportunities on any pullbacks towards this level,” The India VIX, a fear gauge, has cooled and ended below 15, indicating that the bulls are in control
Nifty:22338.75/355.95/1.62%;Candle:OGU,Long day green; Bank Nifty:47286.9/1166/2.53% Candle:OGU,Long day green ; HB:OF,Long day green,14311
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long35%FutCash;129;Opt94%
OI data Nifty ( max pain W22250M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Apeejay Surrendra Park Hotels will release its October-December FY24 quarter earnings on March 4. This is the first earnings scorecard by the company after listing on the bourses in February.
The NSE has retained Zee Entertainment Enterprises to the F&O ban list for March 4.
Market wrap up(DWM,T,N,E):During the March 2 special session, which checked the preparedness of the disaster recovery system of the market in case of an emergency, the Sensex closed 61 points up at 73,806 and the Nifty gained 40 points at 22,378. The Nifty formed a small bearish candlestick on the daily charts, as the closing was lower than the opening levels. In the short term, the Nifty can move towards 22,550 and a move above it can take the index to 22,700. On the lower end, support is at 22,100, and then 21,750-21,800, Arvinder Singh Nanda, Senior vice president at Master Capital Services said. Both price and momentum indicators suggest a continuation of the positive price action. On the upside, the immediate hurdle is at 22,450 – 22,500, he said. Shrikant Chouhan, the head of equity research at Kotak Securities, said the market could rally to 22,500-22,575. Below 22,200, traders may want to exit long positions, he said. India VIX, the fear index, fell 1.6 percent on March 2 to 14.99, giving more comfort to bulls.
