Nifty:23349.9/-168.6/-0.72%;Candle:OF,Short day red; Bank Nifty:50372.9/-253.6/-0.5% Candle:OF,Short red Hammer ; HB:OGU,Short day red,1740
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long25%FutCash;-5321;Opt87%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: Adani Enterprises, National Aluminium Company
Stocks retained in F&O ban: Aarti Industries, Aditya Birla Fashion & Retail, GNFC, Granules India, Hindustan Copper, Indraprastha Gas
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market resumed its downward journey after a day of rebound, with the Nifty 50 falling by seven-tenths of a percent to close at the previous day’s low on November 21. The index hit a more than five-month low, forming a bearish candlestick and showing lower tops-lower bottoms formations, which indicate weakness. Given the bearish momentum, the index may test its immediate support at 23,200 (50-week EMA), followed by 23,000, which is considered a crucial support level. However, in the event of a bounce-back, 23,500-23,550 (200 DEMA) is likely to act as immediate resistance, according to experts. The Nifty 50 fell well below the 200 DEMA (23,540) with above-average volumes, thus trading below all key moving averages, accompanied by a negative bias in momentum indicators such as RSI (Relative Strength Index at 28.34) and MACD (Moving Average Convergence Divergence). This indicates a completely bearish sentiment. On the weekly timeframe, the index maintained a lower highs-lower lows formation, trading at the lower end of Bollinger Bands, while the 10-week EMA fell below the 20-week EMA. The Bank Nifty dropped below the 200 DEMA (49,900) intraday but managed to hold it on a closing basis for the fifth day. It closed half a percent lower at 50,373 with above-average volumes. The index formed a bearish candlestick pattern with a long lower shadow, resembling a Hammer-like formation on the daily charts. This suggests buying interest at lower levels and indicates that it still holds above the 50 percent Fibonacci retracement (from the June low to the record high of September), which is a positive sign. However, the momentum indicators RSI and MACD show a negative bias.
