Nifty:24180.8/-218.6/-0.9%;Candle:OF,Long day red; Bank Nifty:50787.45/-743.7/-1.44% Candle:OGD,Long day red ; HB:OF,short day red,1743,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long37%FutCash;-3037;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: Dixon Technologies, IDFC First Bank, L&T Finance,
Stocks retained in F&O ban: Aarti Industries, Bandhan Bank, Escorts Kubota, IndiaMART InterMESH, Manappuram Finance, NMDC, RBL Bank
Stocks removed from F&O ban: Indian Energy Exchange, Piramal Enterprises
Market wrap up(DWM,T,N,E):The market sentiment weakened further, with the Nifty 50 decisively breaking below the 100-day EMA (Exponential Moving Average) and falling below 24,200, resulting in nearly a percent loss. This led to the achievement of the first target of the Head and Shoulders pattern on October 25. Hence, experts foresee the index extending its southward journey to reach the August low of 23,894, followed by the 200-day EMA at 23,455 in the upcoming sessions. However, any rebound towards 25,650 (10-day EMA), given the RSI is in oversold territory, is expected to face selling pressure, and a “sell on rally” strategy is advised. The Nifty 50 formed a bearish candlestick pattern on the daily charts, continuing the lower highs-lower lows formation for the fourth consecutive session amid above-average volumes. The index reached closer to the lower end of the Bollinger Band, and the 20-day EMA line fell below the 50-day EMA. The momentum oscillator RSI (Relative Strength Index) dropped below the 30 level, entering the oversold zone. On a weekly scale, the index shed 2.71 percent with a long bearish candle, continuing the formation of lower tops and bottoms for the fourth consecutive week, which is a negative sign.
