Nifty:24472.1/-309/-1.3%;Candle:OF,Long day red; Bank Nifty:51257.15/-705.55/-1.36% Candle:OF,Long day red ; HB:OF,Long day red,1714.5
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long32%FutCash;-3979;Opt91%
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: Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilisers and Chemicals, GNFC, Indian Energy Exchange, IndiaMART InterMESH, L&T Finance, Manappuram Finance, Piramal Enterprises, Punjab National Bank, RBL Bank
Stocks removed from F&O ban: Granules India, Hindustan Copper, IDFC First Bank, SAIL
Market wrap up(DWM,T,N,E):The market nosedived sharply on October 22, breaking crucial support levels and hitting a 10-week low amid the corporate earnings season. The Nifty 50 plunged 1.25 percent to 24,472, decisively falling below the crucial supports at 24,700 and 24,550. Falling below the mid-Bollinger band on a weekly basis is a negative sign. Hence, the immediate support lies at 24,400; below this level, the index may correct to the 24,000-23,900 zone. However, on the higher side, immediate resistance is seen at 24,700, according to experts. The Nifty 50 formed a long bearish candlestick pattern on the daily timeframe, falling below the 100-day EMA (Exponential Moving Average) for the first time since June 4. Further, there was a lower highs-lower lows formation on the weekly charts, indicating the continuation of the downtrend for the fourth consecutive week. The index also dropped below the mid-Bollinger band (24,717) and the 20-week EMA (24,550) on the weekly scale, all of which indicate weakness in the market. The momentum indicators, RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence), showed a negative bias on both the daily and weekly charts. The Bank Nifty recorded a long bearish candle on the daily timeframe with a lower high-low formation, trading below the 20-day SMA (or mid-Bollinger band) and the 50-day EMA, indicating further signs of weakness. The index fell 706 points to 51,257, with above-average volumes. A negative bias was also observed in the momentum indicators on both the daily and weekly scales.
