Nifty:24964.25/-34.2/-0.14%;Candle:OF,Doji; Bank Nifty:51172.3/-358.6/-0.7% Candle:OF,Short day red ; HB:OF,Short day red,1651
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long36%FutCash;-4163;Opt96%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: Nil
Stocks retained in F&O ban: Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Manappuram Finance, Punjab National Bank, RBL Bank, SAIL
Stocks removed from F&O ban: Bandhan Bank, Birlasoft, Tata Chemicals
Market wrap up(DWM,T,N,E):The rangebound trade with a flat close continued for the third consecutive session on October 11. In between, the Nifty 50 could not close above the 50-day EMA (Exponential Moving Average) of 25,050 amid struggles, while on the lower side, it defended the level of 24,900. At the same time, volatility dropped significantly from the week’s high. Hence, if the index manages to climb decisively above the 50-day EMA, an upmove towards 25,200-25,300 cannot be ruled out, with 24,900 as support. If it breaks this support, selling pressure may extend to last week’s low of 24,700, according to experts.The Nifty 50 formed a small bearish candlestick pattern with minor upper and lower shadows on the daily charts, indicating rangebound trade. On the weekly scale, there was a bearish candlestick pattern formation with long upper and lower shadows, resembling a High Wave pattern after a significant bear candle in the previous week, indicating a possible reduction in selling pressure. The Bank Nifty formed a bearish candlestick pattern on the daily charts following a 359-point fall to 51,172, with low volume. However, it continued to trade within last Monday’s range (50,200-51,800) and below the 50-day EMA (51,750-51,800), which coincides with the upper end of Monday’s range. The index was down 290 points for the week and recorded a bearish candle with a minor upper and long lower shadow on the weekly timeframe, indicating buying interest at lower levels while defending the 20-day EMA on a closing basis, which is a positive sign.
