Market don show say Nifty 50 slip by one-third percent on August 19, take total correction pass two percent for the last seven straight sessions. Momentum indicators and oscillators dey show say bearish control dey increase.
Any convincing fall below Wednesday low of 24,026 fit open door for decline go 23,850 and then 23,600. But if index bounce back, 24,200 go act as immediate resistance. Expert say: if market no stay above 24,200, consolidation continue.
For Bank Nifty, e form Doji-like candle, mean buyers and sellers no dey agree. E recover for second half, move back above 50-day EMA, still above medium and long term averages, but below short term averages. RSI fall to 47.1, MACD dey go down.
Options data: For Nifty, max Call open interest dey for 24,500 strike with 1.48 crore contracts, so that level go be strong resistance. Max Put open interest for 24,000 strike with 1.36 crore contracts, e go support market. For Bank Nifty, max Call OI for 58,000 strike, max Put OI for 57,000 strike.
Put-Call ratio fall to 0.81 from 0.93. If PCR higher than 0.7, e mean traders dey sell more Put than Call, which be bullish sign. But if e fall below 0.7, e dey bearish. India VIX fall 0.57 percent to 11.32, e don stay below 12 zone for many sessions, so volatility low.
Long build-up see for 38 stocks, long unwinding for 39, short build-up for 116, short-covering for 19. Stocks under F&O ban: Bandhan Bank, Manappuram Finance, SAIL. No stock added, Life Insurance Corporation of India don remove.
E get company news: Arkade Ltd add four Mumbai redevelopment projects worth about Rs 5,000 crore. Atlanta Electricals get LOI from APTRANSCO for Rs 193.92 crore supply autotransformers. Ceigall India JV win five LOAs worth Rs 2,423.70 crore for NH-913 roadworks for Arunachal Pradesh, plus other contracts.
Escorts Kubota start ground work for 154-acre Uttar Pradesh plant with over Rs 2,000 crore investment. Interarch Building Products secure Rs 128 crore domestic order. Jubilant Ingrevia go acquire 40% stake for Zettaone for Rs 189.2 crore. Krystal Integrated Services win Rs 134 crore contract from Maharashtra State Road Transport Corporation.
Manipal Health Enterprises go acquire Kinder Women’s Hospital for Bengaluru for Rs 130 crore. Paisalo Digital sign MoU with LoanKhata for Rs 1,000 crore co-lending facility. Prism Johnson win coal linkage from ECL and SECL worth about Rs 70.49 crore annually. RailTel Corporation secure one-year EPFO IaaS work order worth Rs 166.80 crore.
