moneycontrol.com network18online.com

 

SENSEX: 60663.79 377.75

NIFTY: 17871.70 150.20

Market Outlook

Ventura Securities,

12.00 AM Jan 16th

Support comes in at the 17948, 17792, 17613, 17430, 17226, 17055, 16900, 16700, 16359, 16203, 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 18095, 18200, 18442, 18600, 18888.

The Nifty has moved exactly on expected lines (the early positives did not sustain) to decline and despite a couple of attempts, it didnít close below the 17792 level (did post an intraday low of 17761.65 on 12th January) and has staged a recovery of sorts to just about close above the17948 level. Maximum call open interest comes in at 17900 followed by 19000 while maximum put open interest comes in at 17900 followed by 17800 indicating a slightly opaque trading range (a bit surprising considering the fact that we are in the third week of the current series) compared to the last week but the situation remains fluid with movements expected on either side. Nifty has seen addition in open interest during the week to end at 01.18 cr (rounded off) and has seen an increase of nearly 01.93% (rounded off) on the last trading session of the week; the Bank Nifty has seen some open interest being decreased during the week to end at 21.63 lakh (rounded off) compared to the last week; has actually seen open interest (03.86%) being added 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 14.40 level (in terms of closing) except that it ended at 14.46 (higher from an intra week low of 14.40) due to which the market has been generally weak during the week. The Nifty seems to be stabilizing and as long as it doesnít close below the 17792 level, the chances of a recovery improve. IT as a sector seems to be stable while Auto and Metals also seem promising while it doesnít seem to far away for the time to come to go buy first and sell later. Support comes in at the 17948, 17792, 17613, 17430, 17226, 17055, 16900, 16700, 16359, 16203, 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 18095, 18200, 18442, 18600, 18888.

Market Action

INDIAN INDICES

S&P BSE Auto30349.29102.85
S&P BSE BANKEX46964.7422.71
NIFTY BANK41537.7046.80
S&P BSE Capital Goods34212.11-113.32
S&P BSE Consumer Durables38610.22295.85
S&P BSE FMCG16496.7719.52
S&P BSE Healthcare22477.22266.98
S&P BSE IT30570.93454.07
S&P BSE Metals20368.76208.81
S&P BSE Oil and Gas17657.9556.15
S&P BSE PSU9529.555.91
S&P BSE TECk14044.35151.57
S&P BSE Smallcap28169.62212.88
S&P BSE Midcap24883.24245.66
Nifty MID100 Free30944.00280.20

GLOBAL INDICES

EXCLUSIVE LIVE CHAT!

How are the markets looking?

Hemen Kapadia, Technical Analyst

Day - 7th Feb. 2023
Time - 13.00hrs

View last chat transcript

ISO 27001 - BSI Assurance Mark