Nifty:19406.7/5.05/0.03%;Candle:OF,Doji; Bank Nifty:43737.9/118.5/0.27% Candle:OGD,Short day green, ; HB:OGD, Short day red,1487,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long20%FutCash;-497;Opt91%
OI data Nifty ( max pain W19.350M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Lupin, Tata Power Company, Oil India, 63 Moons Technologies, Bata India, BHEL, CESC, Mazagon Dock Shipbuilders, MCX India, MTAR Technologies, Nazara Technologies, The New India Assurance Company, Patanjali Foods, Power Finance Corporation, Pidilite Industries, PI Industries, Raymond, Shree Renuka Sugars, Samhi Hotels, United Spirits, and Welspun Corp will release September quarter earnings on November 8.
The NSE has retained GNFC (Gujarat Narmada Valley Fertilizers and Chemicals) on its F&O ban list for November 8.
Market wrap up(DWM,T,N,E):The market took a breather after a three-day run up and ended flat with a negative bias, but held above 19,400. Will it indicate rangebound trade or further upmove above 50-day EMA in coming days? The rangebound trade is likely to continue with 19,400 seeming to be acting as a crucial role for either side of trend. If the index holds the same, then it will surpass 19,450 (50-day EMA – exponential moving average) followed by hurdle at 19,500-19,600, whereas on the lower side, 19,300 will be immediate support for the Nifty50, experts said. On November 7, the BSE Sensex fell 16 points to 64,942, while the Nifty50 declined five points to 19,407 and formed Doji kind of candlestick pattern as well as Tweezer Top kind of pattern on the daily charts, indicating the possibility of some kind of reversal. Hence, the move in next session will be the key to watch. “Normally, such Doji formation at the swing highs or lows calls for impending trend reversals for the underlying. Having formed this pattern beside the long bull candle of Monday signal chances of range bound movement in the market,” The larger degree of lower tops and bottoms is intact as per daily timeframe chart and currently, Nifty is moving up towards the new lower top formation of the sequence. Still there is no confirmation of any lower top reversal pattern yet at the highs, At the higher levels, he said the market could encounter strong resistance around 19,500-19,600 levels in the short term. “Immediate support is placed at 19,320 levels.” The broader markets continued their uptrend for fourth consecutive session, with the Nifty Midcap 100 and Smallcap 100 indices gained 0.3 percent and 0.75 percent respectively, while the market breadth was slightly in favour of bulls.
