Market Wizard

Mumbai records zero death for first time since beginning of COVID-19 pandemic in March 2020

https://www.moneycontrol.com/news/india/mumbai-records-zero-death-for-first-time-since-beginning-of-covid-19-pandemic-in-march-2020-7591301.html

Moneycontrol

Mumbai Records Zero Death For First Time Since Beginning Of COVID-19 Pandemic In March 2020

As many as 518 COVID-19 patients recovered and were discharged, taking the recovery count to 7,27,084. Now, there are 5030 active cases in the city. Mumbai's overall recovery rate has increased to 97 percent.

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Market Wizard

📍 *Pre-Market Derivatives and Technical Set-up* 🌎✅

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Nifty index opened gap up and bulls massively cheered the index to touch its new life time high marks of 18350 levels yet again. Buying interest was seen throughout the day and it closed with gains of around 180 points. It formed a Bullish candle on daily scale and has been forming higher lows from the last three session. On weekly frame it gave a range breakout and has been forming higher lows from the last eleven weeks in a row

📊◆ Now it has to hold above 18250 zones to extend its move towards 18500 levels whereas on the downside support is seen at 18050 and 17947 zones

📊◆ India VIX fell down by 2.07% from 16.10 to 15.76 levels. Overall comparative lower VIX suggests that bulls are holding the tight grip in the market. Now VIX needs to cool down below 15-14 zones to continue the smooth ride

📊◆ On Option front, Maximum Put OI is at 18000 followed by 17500 strike while maximum Call OI is at 18500 followed by 19000 strike. Minor call writing is seen 18800 then 18600 strike while meaningful Put writing is seen at 18000 than 18300 strike. Option data suggests an immediate trading range in between 18000 to 18500 zones

📊◆ Bank Nifty opened flattish and while it remained consolidative for first half of the day. It shot up in second half and gave a price breakout on daily frame. Bulls pulled the banking index to its all-time high levels of 39375 levels and closed with huge gains of around 700 points. It formed a strong Bullish candle on daily scale and has been forming higher lows from the last nine sessions in a row. It formed a Bullish candle on weekly frame and came out of its consolidation on weekly frame and has been forming higher lows from seven weeks in a row

📊◆ Now it has to hold above 39000 zones to witness an up move towards 39800 and 40000 levels while on the downside major support is seen at 38800 and 38500 levels

📊◆ Bullish setup in IRCTC, Adaniports, Wipro, Adanient, Grasim, Havells, PFC, Havells, Can Bank, Hdfc Bank, Naukri, Nationalum, ITC, Powergrid, Divislabs, L&TFH, Indusind Bank, Bata India, ICICI Bank, ACC and LT     

📊◆ Bearish setup in Coal India, Metropolis, Lalpath Labs, Lupin, Concor, IGL, Biocon and Petronet