Nifty:20901.5/-36.55/-0.17%;Candle:OF,Doji; Bank Nifty:46841.4/6.85/0.01% Candle:OGD,Doji ; HB:OGD,Doji,1633
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;1564;Opt%
OI data Nifty ( max pain W20900M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Balrampur Chini Mills, and National Aluminium Company to its F&O ban list for December 8, while retaining Delta Corp, Indiabulls Housing Finance, India Cements, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market finally entered into consolidation mode and saw profit taking on December 7, after significant upward journey in previous seven straight sessions. Hence, the said consolidation may continue for some more days with major support at 20700-20,500 area, as long as the Nifty50 trades below the psychological 21,000-mark, but in case, the index sees sharp upmove above 21,000 mark, then another phase of northward journey may be seen, experts said. On December 7, the BSE Sensex declined 132 points to 69,522, while the Nifty50 fell 37 points to 20,901 and formed bearish candlestick pattern with long lower shadow on the daily scale. Technically, “this pattern indicates a breather pattern for the market post sharp upmoves. After moving up sharply, the market is not willing to show any significant reversal on the downside itself is a positive indication for the market ahead. Such market actions more often seen during strong trended upmoves,” said Nagaraj Shetti, senior technical research analyst, HDFC Securities. Hence, he feels there is a possibility of some more consolidation or minor weakness in the next one or two sessions before resuming decisive upmove again. “Immediate resistance is placed at 20,950 levels and an upside breakout could open the next upside target of 21,550 (78.6 percent Fibonacci extension). Immediate support is at 20,830 levels,” Nagaraj said. The hourly momentum indicator has a negative crossover and is still away from the equilibrium line, hence he expects the consolidation to continue over the next few trading sessions. The broader markets gained a bit of strength compared to consolidation in the past two days, with the Nifty Midcap 100 and Smallcap 100 indices rising six-tenth of a percent and 0.4 percent respectively on positive breadth. About 1,193 shares advanced against declining 933 shares on the NSE. The volatility index, India VIX also trended lower, snapping three-day upmove and closing 7.76 percent lower at 12.67 levels which provided some support to the market.
Nifty:20855.1/168.3/0.81%;Candle:OGU,Doji; Bank Nifty:47012.25/580.85/1.25% Candle:OGU,Doji ; HB:OGU,Short day red,1625,
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Banknifty:Supp Rest .
Gift Nifty:% FII Long49%FutCash;5223;Opt97%
OI data Nifty ( max pain W20700M)
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News:
Events/Results:
The NSE has retained Delta Corp, Indiabulls Housing Finance, India Cements and Zee Entertainment Enterprises to its F&O ban list for December 6.
Market wrap up(DWM,T,N,E):Given the support-based buying for yet another session with a consistent gap-up opening and formation of higher highs, and higher lows for six days in a row, experts remain positive on the Nifty50 and expect the 21,000 mark in the coming days and holding the same can take the index towards 21,500 mark, with support at 20,700-20,500 area. The momentum indicator RSI (relative strength index) reached to overbought levels (83) on the daily charts, but still showed uptrends on daily, weekly and monthly charts.
On December 5, the BSE Sensex rallied 431 points to 69,296, while the Nifty50 climbed 168 points to 20,855 and formed a bullish candlestick pattern with a long lower shadow on the daily scale. This pattern indicates that the index has seen some profit-taking but has seen buying interest at lower levels.
“The prevailing trend stays positive, supported by the critical moving average. The RSI’s bullish crossover signifies a positive momentum,” Rupak De, senior technical analyst at LKP Securities said.
Towards higher levels, he feels the Nifty faces resistance at 21,000, a zone where significant Call writers have positioned themselves. Conversely, the support is situated at 20,700 on the lower end, he said.
Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas said the hourly momentum indicator has triggered a negative crossover which is a sign of loss of momentum on the upside, but until prices show evidence of a correction, they will continue to ride the up move with a trailing stop-loss mechanism.
On the upside, he feels 21,000 – 21,060 shall act as an immediate hurdle zone and 20,720 – 20,700 shall act as a crucial support zone and should also be kept as a trailing stop-loss for the longs on the index.
India VIX, which measures the expected volatility in the Nifty50 for the next thirty days, climbed for yet another session, closing 3.57 percent higher at 13.46 levels, the highest level in the last more than eight months.
The broader markets did not trade in line with the benchmarks and the breadth was also in favour of bears, which is cause for concern. The Nifty Midcap 100 and Smallcap 100 indices are 0.5 percent and 0.1 percent respectively.
Nifty:%;Candle:OF,; Bank Nifty:% Candle:OGU, ; HB:OGU,
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Banknifty:Supp Rest .
Gift Nifty:% FII Long36%FutCash;8148;Opt88%
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Market wrap up(DWM,T,N,E):The trading volume on the expiry day was significantly higher, with the highest-ever single-day buying by FIIs since March 2 this year, which is another positive sign. “The sentiment remains strong as long as it stays above 20,000 since the Put writers at the 20,000 strike will defend this level moving forward,” the sentiment might weaken only if there’s a drop below 20,000; until then, the buy-on-dips strategy is likely to stay prevalent. On the higher side, “20,200-20,230 acts as a resistance zone. If breached, the index could potentially move towards 20,450-20,500,” The broader markets also continued the uptrend, but the breadth was not very strong yet. The Nifty Midcap 100 and Smallcap 100 indices gained 0.7 percent and 1.1 percent, respectively.
Nifty:20096/206.9/1.04%;Candle:OGU,Long day green; Bank Nifty:44566.45/685.5/1.56% Candle:OGU.Long day green ; HB:OGU,1559,
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Banknifty:Supp Rest .
Gift Nifty:% FII Long29%FutCash;72;Opt99%
OI data Nifty ( max pain W20050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper and Manappuram Finance to its F&O ban list for November 30, while Balrampur Chini Mills, BHEL, Granules India, and Indiabulls Housing Finance were removed from the said list.
Market wrap up(DWM,T,N,E):
The market finally reclaimed its psychological 20,000 mark once again after more than a couple of months. Hence, given the index traded well above all key moving averages and positive trend in the momentum indicator RSI (relative strength index) & MACD (moving average convergence divergence) on daily, weekly and monthly timeframes, the Nifty50 may start surpassing its previous record high (20,222.45) in coming days, with support at 20,000-19,800 levels, experts said.
Now bulls seem to be back in full action on November 29, a day before the expiry of November futures & options contracts, and exit polls of five States elections.
The trading volumes on the Nifty50 also remained strong in the last two consecutive sessions, which is another positive sign, though the breadth needs to be strong for a further up move.
The BSE Sensex jumped 728 points or 1.1 percent to 66,902, while the Nifty50 rallied 207 points or 1.04 percent to 20,097 and formed a long bullish candlestick pattern on the daily timeframe.
“The bulls remained at the helm following a consolidation breakout on the daily chart. Besides, the index is sitting comfortably above the crucial short-term moving average,” Rupak De, senior technical analyst at LKP Securities said.
Hence, he feels the overall trend looks positive with broader market participation and a smart recovery in the Bank Nifty. Over the short term, the Nifty might move towards 20,450-20,500 unless it falls below 19,850, he said.
The India VIX advanced for the third consecutive session, rising 4.4 percent to 12.7 levels and closing above the 200-day EMA (exponential moving average) for the first time in the last 10 months.
Nifty:19889.7/95/0.48%;Candle:OGU,Short day green; Bank Nifty:43880.95/111.85/0.26% Candle:OF,Doji ; HB:,OF,short day red,1528,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long24%FutCash;783;Opt93%
OI data Nifty ( max pain W19850M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE retained Balrampur Chini Mills, BHEL, Granules India, and Indiabulls Housing Finance to its F&O ban list for November 29, while Hindustan Copper, Hindustan Petroleum Corporation, and Zee Entertainment Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):Given the optimism with the breakout of the seven-day consolidation, the Nifty may gradually start moving towards the psychological 20,000 mark and then to a record high of 20,200 in coming sessions, with immediate support at 19,800-19,700 levels, experts said. On November 28, the BSE Sensex rose 204 points to 66,174, while the Nifty50 was up 95 points at 19,890 and formed a bullish candlestick pattern with upper & lower shadows on the daily scale. “The Nifty has risen above the recent consolidation high, indicating increased optimism among market participants. Furthermore, it has held steady above the critical near-term support level of 19,700,” Hence, he feels the sentiment is expected to stay positive, potentially leading to a new lifetime high in the short term. At the lower end, 19,700 could remain a crucial short-term support level The broader markets also gained strength with the Nifty Midcap 100 and Smallcap 100 indices rising half a percent and a third of a percent respectively, while the India VIX, the volatility index, increased sharply by 7.45 percent to 12.18 levels, may be ahead of exit poll of five States elections.
Nifty:19794.7/-7.3/-0.04%;Candle:OF,Doji; Bank Nifty:43769.1/191.6/0.44% Candle:OF,Short day green ; HB:OF,Short day green,1531,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long23%FutCash;2625;Opt86%
OI data Nifty ( max pain W19800M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE added BHEL and Granules India to its F&O ban list for November 28, while retaining Balrampur Chini Mills, Hindustan Copper, Hindustan Petroleum Corporation, Indiabulls Housing Finance, and Zee Entertainment Enterprises. India Cements, Manappuram Finance, MCX India and RBL Bank were removed from the said list.
Market wrap up(DWM,T,N,E):The market, which has remained range-bound for more than a week now, can do with a trigger or two to break out of the 19,620-19,875 range. If the Nifty breaks on the higher side, 19,900-20,000 can’t be ruled out and, on the lower side, it can slip to 19,500-19,300 but that looks unlikely, experts said. On November 24, the 30-pack Sensex ended 48 points down at 65,970 and the broad-based Nifty declined 7 points to 19,795 to form a small bearish candlestick with minor upper and lower shadows on the daily scale, This market action reflects sideways movement for the Nifty, which is unfolding over the last five-six sessions. This is signaling that the market is waiting for the triggers to break beyond the range of 19,875-19,650 levels,” he near-term uptrend of Nifty remains intact. The cues of recent assembly elections (exit poll predictions on November 30 and the results on December 3) are expected to be a trend-decider for the market. “The upcoming above-said event is likely to trigger sharp movement on either side of the range,” A sustainable up-move above 19,900 can pull the Nifty towards all-time highs and a decisive move below 19,600 will likely open a near-term downward correction, The market breadth favoured the bears, as about 1,135 shares declined against advancing 964 shares on the NSE, while the broader market settled flat with a positive bias. T
Market wrap up(DWM,T,N,E):The market, which has remained range-bound for more than a week now, can do with a trigger or two to break out of the 19,620-19,875 range. If the Nifty breaks on the higher side, 19,900-20,000 can’t be ruled out and, on the lower side, it can slip to 19,500-19,300 but that looks unlikely, experts said. On November 24, the 30-pack Sensex ended 48 points down at 65,970 and the broad-based Nifty declined 7 points to 19,795 to form a small bearish candlestick with minor upper and lower shadows on the daily scale, This market action reflects sideways movement for the Nifty, which is unfolding over the last five-six sessions. This is signaling that the market is waiting for the triggers to break beyond the range of 19,875-19,650 levels,” he near-term uptrend of Nifty remains intact. The cues of recent assembly elections (exit poll predictions on November 30 and the results on December 3) are expected to be a trend-decider for the market. “The upcoming above-said event is likely to trigger sharp movement on either side of the range,” A sustainable up-move above 19,900 can pull the Nifty towards all-time highs and a decisive move below 19,600 will likely open a near-term downward correction, The market breadth favoured the bears, as about 1,135 shares declined against advancing 964 shares on the NSE, while the broader market settled flat with a positive bias. The market was shut on November 27 on account of the Guru Nanak Jayanti
Nifty:19802/-9.85/-0.05%;Candle:OF,Doji; Bank Nifty:43577.5/127.9/0.29% Candle:OF.Doji ; HB:OGD,Long day green,1524
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long21%FutCash;256;Opt84%
OI data Nifty ( max pain W19800M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Balrampur Chini Mills, and Hindustan Petroleum Corporation to its F&O ban list for November 24, while retaining Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX India, RBL Bank and Zee Entertainment Enterprises. BHEL, and NMDC removed from the said list.
Market wrap up(DWM,T,N,E):Considering the holding of 19,800 and hitting last week’s high of 19,875 once again, bulls seem to be trying hard to get above 19,850, the crucial resistance area. Hence, if the index successfully climbs above this area, then immediate resistance to watch out for will be 19,900-20,000 levels, with support at 19,700-19,500 area, experts said. On November 23, the benchmark indices closed flat. The BSE Sensex was down 5.4 points at 66,018, while the Nifty50 declined 10 points to 19,802 and formed small bearish candlestick pattern with an upper shadow on the daily scale. The index has still been in the range of 19,600-19,875 levels for sixth day in a row now. Technically, “this pattern indicates a continuation of range movement in the market. We also observe a rising wedge-type pattern unfolding on the daily chart in the last 4-5 sessions,” He feels the short-term trend of Nifty remains choppy. “A decisive move above 19,900 levels could open doors towards new all-time highs. Any weakness from here could find immediate support around 19,650-19,600 levels,” The cooling down volatility supported the market, with the fear index India VIX declining 4.63 percent to 11.32 levels, while the market breadth was in favour of bulls as about 1,146 shares advanced against declining 951 shares on the NSE. On the broader markets front, the Nifty Midcap 100 index ended flat, but the Smallcap 100 index gained seven-tenth of a percent.
Nifty:19783.4/89.4/0.45%;Candle:OGU,Long day green; Bank Nifty:43689.15/104.2/0.24% Candle:OGU,Doji ; HB:OGU,Doji,1517,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long21%FutCash;-455;Opt92%
OI data Nifty ( max pain W19800M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained BHEL, Chambal Fertilisers and Chemicals, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX India, NMDC, RBL Bank and Zee Entertainment Enterprises to its F&O ban list for November 22.
Market wrap up(DWM,T,N,E):The formation of frequent upper shadows on the daily candles near the 19,800-19900 zone indicates the presence of strong overhead resistance on the higher side, while the 19,600 continued to act as a strong support. Hence, given the strong support zone, the Nifty50 seems to be trying hard to surpass the 19,800-19,900 zone and if the said zone gets broken, then the 20,000-20,200 zone will be the area to watch, said experts. On November 21, the benchmark indices recouped all their losses from the previous two days. The BSE Sensex rose 276 points to 65,931, while the Nifty50 advanced 89 points to 19,783, and formed a small bullish candlestick pattern with the long upper shadow on the daily timeframe. “The opening upside gap remains unfilled. At the same time, Nifty is not showing any significant reversal pattern at the highs or not showing any sharp weakness from near the hurdle. This is a positive indication,” “The present consolidation pattern could eventually result in a decisive upside breakout of the hurdle at 19,900 levels from here or from slightly lower levels. The anticipated upside breakout could pull Nifty towards the new all-time highs. Immediate support is at 19,650 levels,” The market breadth was slightly in favour of bulls as 1,144 shares advanced against 964 declining shares on the NSE, though the broader markets remained mixed with the Nifty Midcap 100 index up 0.06 percent and Smallcap 100 index down 0.11 percent.
