Nifty:20096/206.9/1.04%;Candle:OGU,Long day green; Bank Nifty:44566.45/685.5/1.56% Candle:OGU.Long day green ; HB:OGU,1559,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long29%FutCash;72;Opt99%
OI data Nifty ( max pain W20050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper and Manappuram Finance to its F&O ban list for November 30, while Balrampur Chini Mills, BHEL, Granules India, and Indiabulls Housing Finance were removed from the said list.
Market wrap up(DWM,T,N,E):
The market finally reclaimed its psychological 20,000 mark once again after more than a couple of months. Hence, given the index traded well above all key moving averages and positive trend in the momentum indicator RSI (relative strength index) & MACD (moving average convergence divergence) on daily, weekly and monthly timeframes, the Nifty50 may start surpassing its previous record high (20,222.45) in coming days, with support at 20,000-19,800 levels, experts said.
Now bulls seem to be back in full action on November 29, a day before the expiry of November futures & options contracts, and exit polls of five States elections.
The trading volumes on the Nifty50 also remained strong in the last two consecutive sessions, which is another positive sign, though the breadth needs to be strong for a further up move.
The BSE Sensex jumped 728 points or 1.1 percent to 66,902, while the Nifty50 rallied 207 points or 1.04 percent to 20,097 and formed a long bullish candlestick pattern on the daily timeframe.
“The bulls remained at the helm following a consolidation breakout on the daily chart. Besides, the index is sitting comfortably above the crucial short-term moving average,” Rupak De, senior technical analyst at LKP Securities said.
Hence, he feels the overall trend looks positive with broader market participation and a smart recovery in the Bank Nifty. Over the short term, the Nifty might move towards 20,450-20,500 unless it falls below 19,850, he said.
The India VIX advanced for the third consecutive session, rising 4.4 percent to 12.7 levels and closing above the 200-day EMA (exponential moving average) for the first time in the last 10 months.
