12.00 AM Feb 15th
Support comes in at the 14869, 14653, 14434, 14000, 13778, 13598, 13400, 13145, 12950, 12770, 12600, 12431, 12292, 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078 while resistance comes in at 15257.
The Nifty didnít breach the 14653 level and needs to do the same again this week while a small 5 trading session consolidation phase seems to be underway; the outlook remains positive as long as the aforesaid level is respected from a closing point of view. Maximum call open interest comes in at 15500 followed by 16000 while maximum put open interest comes in at 14500 followed by 15000 indicating a better defined and clearly higher range (not very surprising considering the fact that we are in second week of the current series) compared to the last week but the situation remains fluid with movements expected on either side. Nifty has seen some reduction in open interest during the week to end at 01.10 cr (rounded off) and has seen an addition of nearly 01.04% (rounded off) on the last trading session of the week; the Bank Nifty has seen some open interest being added during the week to end at 17.48 lakh (rounded off) compared to the last week; has actually seen some major addition in open interest (10.48%) on the last trading session of the week. The Vix has spent almost the entire week in a rangebound movement (with a mixed bias) above the 23.00 level (in terms of closing) except that it ended at 23.04 (lower from an intra week high of 24.96) which has resulted in a rather staid market. The Nifty has had a slight cooling (has stagnated just a bit; albeit at higher levels for the entire week to form a small trading range between 14977 on the downside and 15257 on the upside) off after a scintillating run in the previous week while the Vix has also been copacetic to remain below the 26 level. A stock specific approach is suggested as the Nifty needs to trade above or below its range to determine the direction of the immediate future trend. Support comes in at the 14869, 14653, 14434, 14000, 13778, 13598, 13400, 13145, 12950, 12770, 12600, 12431, 12292, 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078 while resistance comes in at 15257.
|S&P BSE Auto||23740.00||-212.09|
|S&P BSE BANKEX||39692.34||-546.45|
|S&P BSE Capital Goods||21889.05||-308.87|
|S&P BSE Consumer Durables||32749.32||-225.49|
|S&P BSE FMCG||12310.87||-23.28|
|S&P BSE Healthcare||21205.34||-314.78|
|S&P BSE IT||25432.41||-375.19|
|S&P BSE Metals||13905.84||-306.81|
|S&P BSE Oil and Gas||16090.80||28.42|
|S&P BSE PSU||7129.10||-143.41|
|S&P BSE TECk||11611.79||-178.71|
|S&P BSE Smallcap||20936.02||-318.05|
|S&P BSE Midcap||20587.80||-396.39|
|Nifty MID100 Free||24078.20||-530.10|
How are the markets looking?
Hemen Kapadia, Technical Analyst
Day - 2nd Mar. 2021
Time - 13.00hrs