Nifty:23995.35/-309/-1.27%;Candle:OF,Long day red; Bank Nifty:51215.25/-458.65/-0.89% Candle:OF,Long day red ; HB:OF,Long day red,1717
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long24%FutCash;-4330;Opt92%
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: Nil
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market has decisively broken the consolidation range of the previous eight days on the downside and closed at a three-month low on November 4, falling by more than one percent amid caution ahead of US elections scheduled on November 5. The index tested the August low and traded well below the 20-, 50-, and 100-day EMAs (Exponential Moving Averages), which is a negative sign. Additionally, volatility reached a three-month high. Hence, a correction toward 23,500 (the 200-day EMA) is a likely scenario in the upcoming sessions; however, on the higher side, it may face resistance in the 24,200-24,300 zone, experts said. The Nifty 50 formed a bearish candlestick pattern on the daily timeframe with above-average volumes, continuing the lower highs-lower lows formation, which is a negative sign. The consistent bearish trend indicates that after achieving the first target of the Head and Shoulders Pattern, the index may be falling toward the second target, which is around 23,200. The Bank Nifty reported a long bearish candlestick pattern on the daily charts with above-average volumes, falling below the 20- and 50-day EMAs, which is a negative sign. The lower highs formation continued for the fourth consecutive session, while on the weekly scale, the index closed at the 20-week EMA.
