{"id":2458,"date":"2024-03-06T23:43:15","date_gmt":"2024-03-06T23:43:15","guid":{"rendered":"https:\/\/fintechcentre.in\/articles\/?p=2458"},"modified":"2024-03-06T23:43:15","modified_gmt":"2024-03-06T23:43:15","slug":"things-to-notetradersinvestors-7-march-2024-thurs8-20am-clone","status":"publish","type":"post","link":"https:\/\/fintechcentre.in\/articles\/2024\/03\/06\/things-to-notetradersinvestors-7-march-2024-thurs8-20am-clone\/","title":{"rendered":"Things to note(Traders&Investors): 7 March 2024 Thurs,@8.20AM Clone"},"content":{"rendered":"\n

Nik, Dj, Vix<\/li>\n\n\n\n
Oil,\u00a0 Gold, Bonds, Dollar,<\/li>\n\n\n\n
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,<\/li>\n\n\n\n
Nifty :Supp Rest<\/li>\n\n\n\n
Banknifty:Supp Rest .<\/li>\n\n\n\n
Gift Nifty:%\u00a0 \u00a0 \u00a0FII Long40%FutCash;2767;Opt96%<\/li>\n\n\n\n
OI data Nifty \u00a0( max pain W22400M)<\/li>\n\n\n\n
OI data Bank Nifty Nifty(max pain W M)<\/li>\n\n\n\n
News:<\/li>\n\n\n\n
Events\/Results:<\/li>\n\n\n\n
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.<\/li>\n\n\n\n
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\u2019s 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 \u2018higher top higher bottom\u2019 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. \u00a0immediate 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. \u201cLooking ahead, there is potential for the Nifty to reach levels between 22,600 and 22,700 on the higher end,\u201d 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.<\/li>\n<\/ul>\n\n\n\n
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