Stock Market Closing Report on 26 March 2021
MAX CALL OI : 15000
MAX PUT OI : 14000
PRICE RANGE : 14000 to 14800
50 DEMA : 14612
200 DEMA : 12635
TREND : Sideways to positive
OVERVIEW : Nifty opened on a very strong note and as the day progressed it witnessed volatile swings as bulls and bears both made their share of attempts to drag the index on either side. It failed to surpass the high of previous session but managed to close above 14500 levels, forming a DOJI candle on daily chart. The traders are requested to take hedged positions and trade cautiously ahead of the quarterly result season. The support is at 14000 then 13800 levels while the bulls might be at relief only if the index manages to close above 14800 levels.
MAX CALL OI : 34000
MAX PUT OI : 32000
PRICE RANGE : 32800 to 33800
50 DMA : 33983
200 DMA : 27809
TREND : Sideways to positive
OVERVIEW : Banknifty although is trading below the support trend line but witnessed a relief rally as it opened on a strong positive note. It has been making lower top lower bottom formation since last 6 weeks. It made an attempt to bounce back but failed to hold the higher levels and closed around its 33300 zones. The support is at 32800 then 32500 zones, while on the upside we might see relief only above 34000 zones. India vix is around 20 levels thus cooling down and giving a sense of relief to the bulls. The support is at 33000 then 32800 while resistance is at 33800 then 34000.
STOCK OF THE DAY
- HAVELLS after a correction from 1231 to 986 is again showing signs of bouncing back and is giving indication of heading towards 1080 levels.
- It formed a bullish candle after forming a DOJI thus giving early signs of bottom formation.
- RSI is supporting our view thus a possibility of bounce towards 1080 and 1100 levels cannot be ruled out, while support is at 1015 levels.
|in Rs. Crores||FII||DII|
|METAL, PHARMA, MEDIA, FMCG, BANKING, REALTY|
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