Nifty:%;Candle:; Bank Nifty:% Candle:OGU,Short day red ; HB:
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long55%FutCash;;Opt98%
OI data Nifty ( max pain W20850M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added SAIL to its F&O ban list for December 7, while retaining Delta Corp, Indiabulls Housing Finance, India Cements and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):After a consistent run-up for the last seven consecutive sessions and the formation of a Dragonfly Doji kind of candlestick pattern (indicating the possibility of trend reversal) along with a bearish crossover in hourly charts and increasing volatility, experts expect some kind of consolidation with the index facing resistance at 21,000 mark while taking support at 20,800-20,500 area.On December 5, the BSE Sensex climbed 358 points to 69,654, and the Nifty50 jumped 83 points to 20,938, taking the total seven-day gains to 3,684 points and 1,143 points, respectively. “The bearish formation around the crucial resistance of 21,000 amplifies the bearish sentiment. The support lies at 20,850, below which the market may witness a healthy correction in the short term,” On the other hand, he feels a move above 21,000 might trigger a resumption of the bullish trend. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, the psychological 21,000 mark can provide some resistance for the Nifty50 over the next few trading sessions. Also, on the hourly charts, the momentum indicator has a negative crossover which indicates a loss of momentum on the upside. Considering the sharp runup in the previous few trading sessions a consolidation is highly likely,” J On the upside, he feels 21,000-21,060 shall act as an immediate hurdle zone and 20,800-20,730 shall act as a crucial support zone. The market breadth largely remained equal on the NSE, while India VIX, which measures the expected volatility for the next 30 days in the Nifty50, rose by 2.09 percent to 13.74, the highest closing level since March 28 this year.
