Nifty:21517.35/-148.45/-0.69%;Candle:OF,Short day red; Bank Nifty:47704.95/-56.7/-0.12% Candle:OF,Doji ; HB:OF,Long day red,1676,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;-666;Opt%
OI data Nifty ( max pain W21550M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company to its F&O ban list for January 4, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indian Energy Exchange, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):With the consistent correction and the formation of lower highs and lower lows for yet another session, the 21,500 on the Nifty50 may be a make-or-break level in the coming sessions. If the index falls decisively below the same, then 21,300-21,500 may be the next levels to watch on the downside, whereas on the higher side, if the index manages to hold, then it may march towards 21,600-21,800 levels again, experts said. On January 3, the BSE Sensex dropped 536 points to 71,357, while the Nifty50 declined 149 points to 21,517 and formed a long bullish candlestick pattern on the daily charts continuing a downtrend for the second straight session. “On the way down, the Nifty has now reached the 38.2 percent Fibonacci retracement level (21,507), which is likely to act as a make-or-break level for the Nifty,” He expects the Nifty to hold on to this support and prepare a base for the next leg of upmove. Overall, he believes that the fall is a retracement of the previous rise from 20,976 to 21,834 and not a trend reversal, and thus this dip should be used as a buying opportunity. The broader markets were mixed in trend and the market breadth was in favour of bulls. The Nifty Midcap 100 index was up 0.3 percent and Smallcap 100 index fell 0.01 percent.
Nifty:21665.8/-76.1/-0.35%;Candle:OF,Short day red; Bank Nifty:47761.65/-472.65/-0.98% Candle:OF,Long day red ; HB:OF,Doji,1697
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long68%FutCash;1602;Opt97%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Delta Corp, Indian Energy Exchange, SAIL and Zee Entertainment Enterprises to its F&O ban list for January 3, while retaining Balrampur Chini Mills and Hindustan Copper to the said list.
Market wrap up(DWM,T,N,E):Technically, the market is expected to be in control of bears in the short term. The Nifty50 may try to take support at the 21,500 mark, and if the said level is broken then the selling pressure may extend up to the 21,300 zone, said experts. While the hurdle for the index may be seen at 21,800-21,850 on the higher side as breaking the same can drive the index towards the 22,000 mark, they said, adding that overall, it is a part of consolidation which generally takes place after a one-way rally. On January 2, the BSE Sensex was down 380 points at 71,893, while the Nifty50 fell 76 points to 21,666 and formed a bearish candlestick pattern with a long lower shadow on the daily charts indicating some buying interest at lower levels. The smaller range movement of the last 3-4 sessions has been broken on the lower side. Technically, “this pattern indicates a short-term reversal pattern. Such minor weaknesses post range movements in the recent past have turned out to be a buy on dips opportunity,” Positive chart patterns like higher tops and bottoms are intact on the daily chart and present consolidation/weakness is in line with the formation of new higher bottom of the sequence. The bottom reversal needs to be confirmed at the lows, Shetti feels a slide below the immediate support of 21,500 could open some more weakness for the near term. A sustainable move above 21,840 could bring bulls back into the action, trade with a stock-specific approach for a while and look for buying opportunities in stocks which are showing relative outperformance to the benchmark.
Nifty:21741.9/10.5/0.05%;Candle:OF,Doji; Bank Nifty:48234.3/-57.95/-0.12% Candle:OF,Doji ; HB:OF,Doji,1699
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;-855;Opt%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Balrampur Chini Mills to its F&O ban list for January 2, while retaining Hindustan Copper to the said list.
Market wrap up(DWM,T,N,E):Technically, the market seems to be maintaining a consolidation phase for a few more sessions before getting into a firm trend on either side of the 21,650-21,850 range, experts said, adding if the index decisively surpasses 21,800-21,850 then 22,000 can’t be ruled out. However, if it breaks the 21,650 mark, which has been held for the last three sessions can drag down the index to the 21,500 mark, On January 1, the benchmark indices hit a new high but failed to sustain those higher levels due to profit-taking and finally ended flat with a positive bias. The BSE Sensex was up 32 points at 72,272, while the Nifty 50 gained 10.5 points at 21,742 and formed a Spinning Top or High Wave kind of candlestick pattern on the daily charts, indicating indecision among buyers and sellers about further market trend. “This indicates high volatility in the market at the highs. The positive chart pattern like higher tops and bottoms is intact on the daily chart and Nifty is currently forming a new higher top of the sequence. Still, there is no confirmation of any top reversal pattern in the high market,” “A decisive move above 21,850 levels is expected to nullify the present bearish effect and that could open more upside for the near term. Immediate support is placed at 21,550 levels,” the index has support around the 21,600-21,500 zone. Meanwhile, the broader markets remained strong with the Nifty Midcap 100 and Smallcap 100 indices climbing 0.6 percent and 0.5 percent, respectively.
Nifty:21731.4/-47.3/-0.22%;Candle:OGD,Doji; Bank Nifty:48292.25/-216.3/-0.45% Candle:OGD,Doji ; HB:OGD,1709.Short day green,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;1460;Opt%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper to its F&O ban list for January 1.
Market wrap up(DWM,T,N,E):Bulls took a breather, which was on expected lines, after run-up in the previous five consecutive sessions, with the benchmark indices falling marginally on December 29, the first day of January series and final trading day of 2023. Going ahead, the Nifty 50 is expected to consolidate for few more days before getting into strong mood again. Overall, the bulls are still at a healthy position and can lift the index towards 22,000 in the short term, with support at 21,700-21,500 levels, experts said , On December 29, the BSE Sensex was down 170 points at 72,240, while the Nifty 50 declined 47 points to 21,731 and formed Doji candlestick pattern on the daily scale, indicating indecision amongst bulls and bears about future market trend. “Normally, such formations after a reasonable rise alert for trend reversal. But, having formed this pattern beside the bull candle of Thursday, one may expect range-bound action or consolidation movement to continue in the market,” A long bull candle was formed on the weekly chart, that has surpassed the high wave type candle pattern of the previous week. This is a positive indication, “There is a possibility of short-term consolidation or range movement for the next 1-2 sessions before resuming its upside momentum in the coming sessions. Immediate support is placed at 21,550 and the next upside targets are to be watched around 22,000-22,200 levels,” However, the Nifty 50 has the potential to inch gradually towards the 22,150 zone. So traders should use the consolidation phase to add quality names on dips, he advised. the broader markets outperformed benchmark indices and the breadth was slightly in favour of advances. The Nifty Midcap 100 and Smallcap 100 indices gained 0.8 .
Nifty:21778.7/123.95/0.57%;Candle:OGU,Short day green; Bank Nifty:48508.55/226.35/0.47% Candle:OGU,Doji ; HB:OGU,Doji,1709,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long70%FutCash;4359;Opt98%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Market wrap up(DWM,T,N,E):The market hit a fresh record high on December 28, the expiry day for December futures & options contracts, and continued uptrend for five days in a row with strong volumes. Hence, experts expect the ongoing momentum, especially seen after the recent consolidation breakout, to sustain in the coming days with the Nifty 50 aiming for the psychological 22,000 mark, while the 21,700-21,500 may act as a support zone at the beginning of the January series. In addition, the index continued higher highs, and higher lows formation four days in a row with the gap up opening in the last two trading days, while the momentum indicator, RSI (relative strength index) and MACD (moving average convergence divergence) maintained positive bias. On December 28, the BSE Sensex jumped 372 points to 72,410, while the Nifty 50 rose 124 points to 21,779 and formed a bullish candlestick pattern on the daily scale, indicating an uptrend continuation pattern. “Positive chart patterns like higher tops and bottoms continued on the Nifty as per the daily timeframe chart. Though Nifty placed at all-time highs, still there is no indication of any higher top reversal forming at the new highs,” having moved above the initial hurdle of 21,650 levels, the Nifty is expected to advance towards the next overhead resistance of 22,200 levels in the near term, which is near the 100 percent Fibonacci extension of major bottom-top-bottoms. Immediate support is at 21,550 levels, 21,900 – 22,000 is the immediate hurdle whereas the immediate support shifted higher towards Thursday’s bullish gap around 21,675, and 21,500 – 21,480 is seen as a strong support zone. Meanwhile, considering around 3,000 points (14 percent) move in just two months, traders should secure some profit at higher levels and end the year on a positive note, Rajesh advised. The broader markets also performed in line with benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained 0.6 percent and 0.8 percent respectively, while the India VIX retreated a bit after a sharp jump in the previous two days, falling 2.7 percent to the 15.14 levels, giving some comfort for bulls.
Nifty:21654.75/213.4/1.00%;Candle:OGU,Long day green; Bank Nifty:48282.2/557.35/1.17% Candle:OF,Long day green ; HB:OF,Long day green,1704
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;2926;Opt97%
OI data Nifty ( max pain W21500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained National Aluminium Company, and RBL Bank to its F&O ban list for December 28. Balrampur Chini Mills, Delta Corp and Hindustan Copper were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to maintain its bullish run given the significant consolidation breakout ahead of the monthly expiry of December derivative contracts on December 28. The Nifty 50 is likely to face immediate resistance at 21,700-21,800 levels, followed by the 22,000 mark, considering the higher highs, higher lows formation and positive momentum indicators, while the 21,500, which acted as a resistance, is expected to be support for the index, experts said. On December 27, the benchmark indices ended at fresh record closing highs. The BSE Sensex climbed above the 72,000 mark for the first time, rising 702 points to 72,038, while the Nifty 50 surged 214 points to 21,655 and formed a long bullish candlestick pattern on the daily timeframe. Technically, this pattern indicates an upside breakout of the previous swing high at 21,593 levels. “Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, the Nifty is moving towards the new higher top formation. Still, there is no confirmation of any higher top reversal at the highs,” Having breached above the immediate resistance of 21,550-21,600 levels, there is a possibility of more upside in the short term, he feels. “The next upside targets to be watched around 22,000-22,200 levels in the next week. Immediate support is placed at 21,300 levels,” Given the upcoming session is a monthly expiry and holds significant importance from the calendar year-end point, Rajesh Bhosale, technical analyst at Angel One expects potential price settlements and increased volatility. Traders can view this as an opportunity and explore trending trading opportunities, he advised. Meanwhile, the volatility jumped to the highest level since March 20 this year, which experts feel may make the trend unfavourable for bulls. The India VIX rose 6 percent to 15.56 levels.
Nifty:21441.35/91.95/0.43%;Candle:OF,Short day green; Bank Nifty:47724.85/233/0.49% Candle:OF,Doji ; HB:OF,Short day green,1683,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long64%FutCash;-95;Opt100%
OI data Nifty ( max pain W21350M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added RBL Bank to its F&O ban list for December 27, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, and National Aluminium Company on the list. Ashok Leyland, India Cements, and SAIL were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to remain rangebound with a positive bias with the Nifty 50 facing hurdle at 21,500-21,600 on the higher side, and taking support at 21,200-21,000 levels in coming sessions, while the volume is expected to be low given the holiday period, experts said. The benchmark indices continued their upward momentum for three days in a row. On December 26, the BSE Sensex climbed 230 points to 71,337, while the Nifty 50 was up 92 points at 21,441 and formed a bullish candlestick pattern on the daily charts with higher highs and higher low formation for yet another session. Overall, the Nifty has now retraced a good portion of the significant losses seen last Wednesday (December 20). “The Nifty would need to cross the recent highs of 21,593 to reverse the current downtrend. Crucial supports to watch for re-emergence of weakness are at 21,329-21,232,” “As we approach the close across various time-frames, the prevailing sentiment is optimistic,” he said, adding, however, considering the smaller size of the recent candles compared to the significant bearish one from last Wednesday, some caution is advised. The next few sessions could be crucial, especially with the year-end approaching, and it might be prudent for investors to secure timely profits before the start of the new calendar year, he advised. The India VIX, known as the fear indicator, rose 7.08 percent to 14.68, giving some discomfort to the bulls.
Nifty:21349.4/94.35/0.44%;Candle:OGU,Doji; Bank Nifty:47491.85/-348/-0.73% Candle:OF,Short day red, ; HB:OF,Short day red,1667,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long65%FutCash;-2829;Opt96%
OI data Nifty ( max pain W21250M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company to its F&O ban list for December 26, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, and SAIL in the list. Manappuram Finance, and RBL Bank were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to be rangebound in the last week of the current calendar year with Nifty 50 facing resistance in the zone of 21,500-21,600, and taking immediate support at 21,300-21,200 levels. Clearance of 21,600 decisively can take the index towards 21,800 levels, while the breaking of the said support can drag it towards 21,000 levels, experts said. On December 22, the benchmark indices extended gains for second consecutive session after sharp fall in middle of the week. The BSE Sensex rallied 242 points to 71,107, while the Nifty 50 jumped 94 points to 21,349 and formed bullish candlestick pattern on the daily charts with slightly better volumes than previous day. The higher high, higher low formation was also seen. “On the daily chart, the Nifty has retraced a good portion of the losses seen on Wednesday. Nifty would need to cross the recent highs of 21,593 to reverse the current downtrend. Crucial supports to watch for re-emergence of weakness are at 21,232,” “Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 levels.” The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.7 percent and 1 percent respectively.
Nifty:21255.05/104.9/0.5%;Candle:OGD,Long day green; Bank Nifty:47840.15/394.85/0.83% Candle:OGD,Long day green ; HB:OGD,Long day green,1687,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long67%FutCash;-1636;Opt97%
OI data Nifty ( max pain W21100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:The NSE has added Hindustan Copper to its F&O ban list for December 22, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, India Cements, Manappuram Finance, RBL Bank and SAIL in the list. Indus Towers, National Aluminium Company and Piramal Enterprises were removed from the list.
The NSE has added Hindustan Copper to its F&O ban list for December 22, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, India Cements, Manappuram Finance, RBL Bank and SAIL in the list. Indus Towers, National Aluminium Company and Piramal Enterprises were removed from the list.
Market wrap up(DWM,T,N,E):The market rebounded smartly and held on to the psychological 21,000 mark at close on December 21. Going ahead, the current ongoing consolidation is expected to continue with near-term support at around 21,000, if the index closes below the same then a sharp correction can be seen, while on the higher side, 21,593 — the record high — is likely to be a key hurdle as the decisive crossing of the same can start another leg of the rally, On December 21, the BSE Sensex climbed 359 points to 70,865, while the Nifty 50 rose 105 points to 21,255 and formed a bullish candlestick pattern on the daily charts, though there was a lower high, lower low formation. “On the daily chart, while the Nifty has bounced back sharply and retraced some of the losses seen in the previous session, the short-term trend remains down,” Momentum readings like the 14-day RSI (relative strength index), too, remain in decline mode and declining sharply from overbought levels on December 20. This is a negative signal for the near term, and it also implies that the Nifty remains in a short-term downtrend, the Nifty would need to cross the recent high of 21,593 to reverse the current downtrend. “Crucial supports to watch for re-emergence of weakness are at 20,976,” The overall market breadth remained strong and indicates a firm market, as three shares advanced for every share falling on the NSE. “But Nifty still needs to surpass key levels for a continuation of the momentum. The immediate support for Nifty is placed around 21,000-20,950, while resistances are seen around 21,360 followed by the 21,500-21,600 zone,” The broader markets have also seen a rebound after a more than 3 percent correction in the previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.7 percent
