Nifty:24749.85/-221.45/-0.89%;Candle:OF,Long day red; Bank Nifty:51288.8/-512.25/-0.99% Candle:OF,Long day red ; HB:OF,Long day red,1674,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;-7421;Opt88%
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: Bandhan Bank, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, Manappuram Finance, National Aluminium Company, Punjab National Bank, RBL Bank, SAIL, Tata Chemicals
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):Bears tightened their grip over the market on October 17, dragging down the benchmark indices near the previous week’s low amid the quarterly earnings season. The Nifty 50 dropped sharply by 221 points to 24,750. The breakdown of the support trendline and the Bearish Flag pattern were key drivers of this decline. If the Nifty 50 decisively breaks 24,700 (the previous week’s low), the next support lies at 24,550 (20-week EMA). However, in the case of a rebound, the immediate resistance zone to watch is 24,800-25,000, experts said. The Nifty 50 exhibited a long bearish candlestick pattern on the daily charts, breaking the long upward-sloping support trendline as well as the Bearish Flag pattern, indicating increased nervousness in the market. The momentum indicators, RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence), maintained a negative bias. The Bank Nifty also formed a bearish candlestick pattern on the daily charts, falling by 512 points to 51,289 with much lower-than-average volumes. In fact, the volumes remained below average for the sixth consecutive session. The index traded below both the 10-day and 50-day EMAs, but still defended the 20-week EMA on a closing basis, which is crucial for further downside.
