Our Cash Segment April month profit (till date) has crossed 70%++. Calculation done as per the first target basis. Package price only Rs 7,000 + GST per month. Hurry! Subscribe it today and get profitable research calls. For more details call your RM or Call us on +91-7065111166.
Home » Amid of volatile session, Nifty Adds 18 point | Morning Nifty & Bank Nifty update
Equity Cash Equity Future Morning Nifty Update

Amid of volatile session, Nifty Adds 18 point | Morning Nifty & Bank Nifty update

Nifty & Bank nIity update
Nifty & Bank nIity update

Indian benchmark indices erased all its intraday gains and ended on a flat note with a highly volatile session on the weekly F&O expiry. The BSE Sensex gain by 61.13 points to close at 38,470.61, and the NSE Nifty gain by 18 points to close at 11,269. Both the benchmark indices ended with gains of 0.16 percent.

Market breadth was around 1:1 with 1160 shares have advanced, 1217 shares declined, and 167 shares are unchanged. In Nifty & Bank Nifty five out of eleven sectors ended on a lower note with a major fall in the Nifty reality of around 1.14%. On the other side, Nifty FMCG and Nifty pharma are the sectors to gain in the previous trading session.

NIFTY FUTURE

Indian benchmark indices erased all its intraday gains and ended on a flat note with a highly volatile session on the weekly F&O expiry. The BSE Sensex gain by 61.13 points to close at 38,470.61, and the NSE Nifty gain by 18 points to close at 11,269. Both the benchmark indices ended with gains of 0.16 percent.

Market breadth was around 1:1 with 1160 shares have advanced, 1217 shares declined, and 167 shares are unchanged. Five out of eleven sectors ended on a lower note with a major fall in the Nifty reality of around 1.14%. On the other side, Nifty FMCG and Nifty pharma are the sectors to gain in the previous trading session.

Technical View

Index has traded in a sideways and volatile move for the day.As per our expectation, Price paused its downside streak and hold a level of 11000 where multi-year trend line laid down support.
Index has a broad trading range of 400 points, from 11000 on the downside and 11400 on the upside.
Price seems to trade in Inverted H&S from the bottom, so technically, we are looking buying opportunity at any deep above 11080 level with stop-loss of 11000.
According to Open Interest Data, Maximum Call open interest stand at 11400 followed by 11500 and put 11000 followed by 11200 suggests us resistance and support for the index . Valuation wise maximum Call & Put stands at 11300 indicates a crucial level for index, PCR stand at 11100 validate it as a strong support level. Sacttered data between 11000 to 11500 suggest volatile session ahead.
We are expecting a volatile session ahead, Closing above 11350 may invite a short-covering trade.

 


nifty chart

nifty chartStrategy for the day (Future Level)

Support 11200, Resistance 11400
Trading above 11400 may give a pullback for 11500-11550, else it may test its support level

 

Banknifty

Technically the index looks weak on the chart. According to Open Interest Data, the Maximum Call open interest stand at 23000 followed by 29000 and put 28000 followed by 28500 suggests a broad trading range for the day. Valuation wise maximum Call & Put stands at 29000 indicates a crucial level for index, PCR stand at 28500 validate it as a strong support level. Scattered data between 28000-30000 suggest a volatile session ahead.

bank nifty chart
bank nifty chart


Strategy for the day (Future Level)

Support 28500, Resistance 29200
Trading below 28900 may drag the price for 28500 on the downside, else it may test its resistance level.

Concentrate on today’s stocks …

 

CRISIL CASH

 

CRISIL
CRISIL

 

CRISIL chart
CRISIL chart

After a long correction on the daily chart stock is trying to take reversal on the daily chart. We will expect a sharp upside move in this stock in the coming days. Traders can do buying above 1570 for the upside target of 1670 and then to 1750 levels in days to come. Support and stop loss remains at 1470 levels on a closing basis.

BANDHANBNK FUTURE

 

BANDHANBNK
BANDHANBNK

 

BANDHANBNK CHART
BANDHANBNK CHART


After the previous day breakout, the stock looks bullish on the chart and trading in a positive trend. We will expect more upside movement in it.

Traders can buy around 415 levels with a stop loss below 400 levels on a closing basis for the target of 440 +++ levels in days to come.


AMARAJABAT  FUTURE

 

AMARAJABAT
AMARAJABAT
AMARAJABAT CHART
AMARAJABAT CHART


Stock has formed a flag pattern and looks weak below 618 levels on the chart. Technically we will expect a downside rally in this stock.

Traders can sell below 618 levels with a stop loss above 648 levels on a closing basis for the target of 585 levels in the coming days.

 

Our Recommendations

Get FREE Market Updates!

Stock Market WhatsApp Broadcast
Read in your native language.
Open chat
Get Market Updates on your WhatsApp