Bajaj Finance, HUL, Lupin, Nifty, Bank Nifty, VIX and some important Analytics II All Explained

This week Nifty was very volatile with a movement of around 500 points to close at 14371 below to its support zone of 14400. The Nifty on Friday fell approx 250 points in a volatile session after hitting record highs on Thursday. Bank nifty closed on a weaker note at 31167 after showing a volatile session of 1700 points. In the coming week the market will be much more volatile after reacting to the results of Axis bank, Indusind & other big guns whose results are due to come this week. Market will also be closing, watching the datas of the US Fed’s interest rate decision & India’s GDP data. India's Union Budget is also around the corner, which will keep the markets busy & volatile.

View on Nifty 50

The highest call writers are active at 15000 which can act as strong resistance in the upcoming trading session. On the downside nifty have an immediate support at 14000 levels where highest put writers are active. On the upside, if nifty breaks 14560 & sustains above it, nifty can show levels of 14670-14850. If nifty breaks 14250, then it can shed till 14000-13900.

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View on Bank Nifty:

The highest call writers are active at 32000 which will act as crucial resistance in the upcoming trading sessions. On the downside it has immediate support at 31000 where highest put writers are active followed by 30000 On the upside, if bank nifty sustains above 31380 can show levels of 3540-31870. If bank nifty breaks 31000 then can shed till 30400-30000.

VIX (Volatility Index)

For the coming week VIX can be volatile with a range of 15-23. VIX can be highly volatile in the upcoming trading sessions & can show lower levels.

Important Analytics:

FII are reducing position in index as well as stocks & index call where as increased position index put, which suggest some more profit booking can come in the upcoming trading sessions.

Technical Analysis on some stocks:

Bajaj Finance Futures:

If it sustains above 5000 it can show 5100-5200 levels where highest call writers are active. On the downside the stock has important support at 4900 level.

Hindustan Unilever Futures:

The stock has given a breakout above the 2400 zone with good volumes, if it sustains above 2422 then it can show 2465-2478 with support placed at 2397.

Lupin Futures:

The stock has a crucial resistance at 1100 level, if it sustains below 1068 then it can shed till 1052-1032 with resistance level placed at 1085.