12.00 AM Mar 30th
Support comes in at the 14434, 14250, 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 14653, 14869, 15064, 15257, 15432.
The Nifty has more or less moved on expected lines and has been within the confines of its trading range; despite a breakout attempt on the downside which hasnít seen follow through and the close has been a bit better while this time around there is resistance from the 55 Week Ema. Maximum call open interest comes in at 15000 followed by 14500 while maximum put open interest comes in at 14000 followed by 13500 indicating a rather large (read as rough) but slightly lower range (not very surprising considering the fact that we are in first 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 notable addition in open interest during the week to end at 00.91 cr (rounded off) and has seen an increase of nearly 02.13% (rounded off) on the last trading session of the week; the Bank Nifty has seen solid open interest being increased during the week to end at 21.50 lakh (rounded off) compared to the last week; has actually seen nominal increase in open interest (00.93%) 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 20.50 level (in terms of closing) except that it ended at 20.65 (higher from an intra week low of 18.23) which has resulted in a slightly volatile market. The Nifty has been range bound (14250-15257) for seven weeks and counting and despite multiple attempts at breakouts (more down than up) on either side, a clear push has been lacking and though the range may have expanded just a bit (the bottom keeps dropping), the outlook remains similar and directionless. A bounce (led by Reliance Ind.) seems to be round the corner while a holiday curtailed week might be slightly insipid. Support comes in at the 14434, 14250, 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 14653, 14869, 15064, 15257, 15432.
|S&P BSE Auto||22129.00||258.50|
|S&P BSE BANKEX||36287.32||-185.83|
|S&P BSE Capital Goods||20429.44||-80.13|
|S&P BSE Consumer Durables||32430.21||426.23|
|S&P BSE FMCG||12918.81||74.23|
|S&P BSE Healthcare||23006.94||424.52|
|S&P BSE IT||26829.81||82.60|
|S&P BSE Metals||16107.03||93.88|
|S&P BSE Oil and Gas||14749.57||49.87|
|S&P BSE PSU||6541.45||20.27|
|S&P BSE TECk||12055.22||48.34|
|S&P BSE Smallcap||21018.55||218.86|
|S&P BSE Midcap||20157.36||233.78|
|Nifty MID100 Free||23760.70||230.70|
How are the markets looking?
Hemen Kapadia, Technical Analyst
Day - 20th Apr. 2021
Time - 13.00hrs