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Key Highlights:

The NIFTY unable to sustain above 50 Day SMA….

NIFTY SPOT: 14549.40 (-1.79%)

DYNAMIC PARAMETER: Nifty formed Lower Top Lower Bottom pattern

TRADING ZONE: Resistance: 14675 (Intraday Resistance) / 14770 (50 Day SMA)

Support: 14467 (Key Support) / 14350 (Swing Low)

BROADER MARKET: UNDERPERFORMED MIDCAP 23334 (-1.99%), SMALLCAP 8065 (-2.11%)

Advance-Decline: 457 / 1430

VIEW: Bearish till below 14888 (20 Day SMA).

BANKNIFTY SPOT: 33293.25 (-2.61%)

DYNAMIC PARAMETER: Index formed Lower Top Lower Bottom pattern

TRADING ZONE:

Resistance: 33700 (Intraday Resistance) / 33970 (Day High)

Support: 33203 (Day Low) / 32800 (CIP Support)

VIEW: Bearish till below 34419 (50 Day SMA)

Key Highlights:

*Nifty March Futures ended 277.60 points down @ 14555.30 with a premium of 5.90 points.

*Nifty futures open interest decreased by 13.03 lakh shares with March series total open interest stands at 0.45 crore shares.

*Nifty 15000 call has highest OI, whereas 14000 put holds the highest OI and Banknifty 34000 call has highest OI and 33000 put has highest OI.

*Nifty 14700 call saw addition of 28.05 lakh shares in OI, whereas 14800 put saw unwinding of 12.57 lakh shares In OI.

*India VIX ended 8.66% up @ 22.46 against the previous close of 20.67

Technical Snapshot

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