Nifty:25250.1/-546.8/-2.12%;Candle:OGD,Long day red; Bank Nifty:51845.2/-1077/-2.04% Candle:OGD,Long day red ; HB:OGD,Long day red,1681
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;-15243;Opt97%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: Granules India, Manappuram Finance
Stocks retained in F&O ban: Bandhan Bank, Birlasoft, Hindustan Copper, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market nosedived by more than 2 percent to 25,250 on the Nifty 50 with above-average volumes, as bears tightened their control over Dalal Street on October 3. The Nifty 50 decisively fell below short-term moving averages and the support trendline, leading experts to believe that further correction can’t be ruled out in the upcoming sessions. The 25,100-25,000 range is the crucial support area to watch on the downside, as falling below it could increase selling pressure. In the event of a rebound, the 25,400-25,500 range is likely to pose a hurdle. The Nifty 50 formed a bearish candlestick pattern on the daily timeframe, continuing its lower tops-lower bottoms formation for the fourth consecutive session. The index has decisively broken below the 20-day moving average, the middle of the Bollinger bands, as well as the support trendline. Additionally, momentum indicators RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) have shown a negative crossover, all of which indicate a negative trend. The Bank Nifty also formed a bearish candlestick pattern on the daily charts, continuing its downtrend and lower highs-lower lows formation for the fourth consecutive session with above-average volumes. The index has also dipped decisively below both the 20-day moving average and the 50-day EMA (Exponential Moving Average). Furthermore, the 5-day EMA has fallen below the 10-day EMA, while the momentum indicators RSI and MACD showed a negative bias, which is also a bearish sign. The index was down by 1,077 points, or 2 percent, at 51,845
Nifty:25810.85/-368.1/-1.41%;Candle:OGD,Long day red; Bank Nifty:52978.1/-856.2/-1.59% Candle:OGD,Long day red ; HB:OGD,Short day red,1732
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long81%FutCash;-9791;Opt103%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, RBL Bank
Stocks retained in F&O ban: Nil
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market extended its selling pressure for another session, with the Nifty 50 falling sharply by 368 points to 25,811 and forming a long bearish candlestick pattern with a gap-down opening on September 30. This indicates a bearish reversal pattern. Hence, the index may correct further in the upcoming sessions. The next support to watch will be 25,500, which coincides with the 50 percent Fibonacci retracement from the September low to high, while resistance lies at 26,000 on the higher side, according to experts. The Nifty 50 negated the higher highs of the previous eight consecutive sessions, falling below both the 5-day and 10-day EMAs (Exponential Moving Averages) with above-average volumes. Additionally, there was a negative crossover in the momentum indicator RSI (Relative Strength Index at 61.3) on both the daily and weekly charts, which is a negative sign. The Bank Nifty formed a long bearish candlestick pattern and continued its lower highs-lower lows formation for another session with above-average volumes. The index also dropped below its 10-day EMA and is 500 points away from the 20-day SMA (Simple Moving Average of 52,477), which is expected to be crucial support to watch. There was also a negative crossover on the momentum indicator RSI on both the daily and weekly timeframes. The index was down by 856 points or 1.6 percent, settling at 52,978.
