Nifty Finds Support, Rallies Towards New Highs!
Nifty Futures Chart
The market remained highly volatile due to the weekly expiry of Nifty options. On the lower end, it found support at the 21EMA before rallying towards higher levels. The momentum indicator has experienced a bullish crossover.Overall sentiment has turned positive once again, with the potential to reach towards 22,400/22,600 in the short term. On the lower end, support is placed at 22,100.
Bajaj Auto, HCL Technologies, Eicher Motors, ITC and Coal India were among the top gainers on the Nifty, while the losers were IndusInd Bank, HDFC Bank, BPCL, Kotak Mahindra Bank and Hero MotoCorp
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Coal India, Bajaj-Auto, Eicher Motor, ITC & HCL Tech.
Top Nifty Losers
Top Nifty losers were Indusind Bank, HDFC Bank, BPCL, Kotak Mahindra Bank & Hindustan Unilever.
Buy the Dip? Bullish Signs Emerge in Bank Nifty
Bank Nifty Futures Chart
Bank Nifty bulls made a strong comeback, leading to a sharp recovery in the index from lower levels. The formation of a long-legged doji candle on the daily chart is considered bullish, suggesting potential further upside towards the 48000 mark. The index finds support at 46500, where aggressive put writing is evident. The bullish sentiment remains intact unless there is a decisive break below this support level.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were Bandhan Bank, Axis Bank, ICICI Bank, Au Bank & IDFC First Bank
Top Bank Nifty Losers
Top Bank Nifty losers were SBI, Kotak Mahindra Bank, HDFC Bank & IndusInd Bank.
