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SENSEX: 60754.86 -554.05

NIFTY: 18113.05 -195.05

Market Outlook

Ventura Securities,

12.00 AM Dec 27th 2021

Support comes in at the 16900, 16700, 16359, 16163, 15900, 15600, 15432, 15257, 15064, 14869, 14653, 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 17055, 17226, 17430, 17613, 17792, 17948, 18200, 18342, 18600.

The Nifty has moved on expected lines, has declined before giving a bounce and if the 16900 level holds in terms of closing then the bounce might not yet be over. A close above the 17266 level (seems slightly difficult) might open the doors for an unexpected upside. Maximum call open interest comes in at 18000 followed by 17500 while maximum put open interest comes in at 16500 followed by 17000 indicating a slightly grey but still a broad trading range (not very surprising considering the fact that we are in the last 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 00.94 cr (rounded off) and has seen a decrease of nearly 03.46% (rounded off) on the last trading session of the week; the Bank Nifty has seen notable open interest being shed during the week to end at 19.40 lakh (rounded off) compared to the last week; has actually seen some major reduction in open interest (05.55%) 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 15.50 level (in terms of closing) except that it ended at 16.15 (lower from an intra week high of 20.14) due to which the market has been in a recovery mode except on the first trading session (half the day only) of the week. The Nifty is at crossroads from a technical point of view as a close above 17226 could mean a unlikely upside and a close below the 16900 level could mean a possible retest of the recent swing low while a benign Vix seems to indicate a small upside and the aforesaid levels need to be kept an eye on. Support comes in at the 16900, 16700, 16359, 16163, 15900, 15600, 15432, 15257, 15064, 14869, 14653, 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 17055, 17226, 17430, 17613, 17792, 17948, 18200, 18342, 18600.

Market Action

INDIAN INDICES

S&P BSE Auto26199.30-614.96
S&P BSE BANKEX43695.2370.43
NIFTY BANK38210.30-5.85
S&P BSE Capital Goods30483.08-629.63
S&P BSE Consumer Durables45665.43-422.37
S&P BSE FMCG13827.21-171.95
S&P BSE Healthcare25172.22-399.21
S&P BSE IT37876.64-599.21
S&P BSE Metals19955.68-461.99
S&P BSE Oil and Gas18834.95-126.32
S&P BSE PSU8739.00-138.21
S&P BSE TECk16687.68-272.58
S&P BSE Smallcap30543.09-597.19
S&P BSE Midcap25569.85-574.22
Nifty MID100 Free31381.50-659.10

GLOBAL INDICES

EXCLUSIVE LIVE CHAT!

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Hemen Kapadia, Technical Analyst

Day - 18th Jan. 2022
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