Stocks retained in F&O ban: Manappuram Finance, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):After two days of gains, the market failed to extend its northward journey on January 3, as profit booking pulled the Nifty 50 down by 184 points on above-average volumes. However, the index managed to hold the 24,000 mark on a closing basis. If the index sustains this level, it may face resistance at 24,200–24,250 (coinciding with the 50- and 100-day EMAs), followed by potential targets at 24,400 and 24,800. On the downside, falling below 24,000 would place immediate support at 23,900, with the key support zone at 23,750–23,700. Experts suggest that the index’s trading range for the next week could be between 23,700 and 24,500. The Nifty 50 has formed a Bearish Belt Hold pattern on the daily charts. This is generally a bearish reversal pattern, but it is not strong enough to act independently. Confirmation in the following session is required. Additionally, for sentiment to improve significantly, the index must begin trading above the midline of the Bollinger Bands. On a weekly timeframe, the index formed a bullish candlestick pattern with long upper and lower shadows, resembling a high wave pattern. This indicates indecision in the market. The Bank Nifty formed a long bearish candlestick pattern on the daily charts, accompanied by above-average volumes, erasing all the previous day’s gains and signaling weakness. The index continues to trade below the 10-, 20-, 50-, and 100-day EMAs, indicating a weak trend. On Friday, it fell by 1.2%, and for the week, it shed 0.63%. On the weekly timeframe, it also formed a bearish candlestick pattern with long upper and lower wicks, signaling indecision among buyers and sellers. Although the index made an attempt to surpass the midline of the Bollinger Bands, it failed to do so.
Market wrap up(DWM,T,N,E):Bulls staged a strong performance on January 2, helping the Nifty 50 surpass the psychological 24,000 mark and record a 446-point gain (the biggest single-day gain in the last six weeks). With the climbing short-term moving averages (10-day and 20-day EMAs) and a rise of 766 points from this week’s low, the momentum has definitely strengthened. However, some consolidation can’t be ruled out before the index embarks on the next leg of the upmove. The Nifty 50 may face immediate resistance at the 24,200-24,250 zone, followed by targets of 24,400 and 24,850. Immediate support is placed at 24,900, followed by 24,700, experts said. The Nifty 50 has formed a long bullish candlestick pattern on the daily charts, with a higher top-higher bottom formation for the second consecutive session. The index cleared the 10-day and 20-day EMAs after defending the 200-day EMA in the previous session. The momentum indicator, RSI (Relative Strength Index at 52.8), showed a positive crossover and entered the upper band. Additionally, the index closed slightly above the midline of Bollinger Bands, signaling positive sentiment. he Bank Nifty also formed a long green candle on the daily timeframe, with a higher high formation for another session, closing above the 10-day and 100-day EMAs after defending the 200-day EMA in the previous session, indicating strength. The banking index needs to surpass the 20-day and 50-day EMAs, as well as the midline of the Bollinger Bands, to gain strong momentum. This is possible only above 52,200. The momentum indicator RSI (47.5) recorded a positive crossover but is still in the lower band, and the MACD (Moving Average Convergence Divergence) tilted slightly upward but is still below the zero line.
Market wrap up(DWM,T,N,E):The Nifty 50 extended gains for the second consecutive session, rising 0.4% on January 1, marking a positive start to the new year, 2025. The index climbed above the 200-day EMA (23,700) but remained below the 200-day SMA (23,880), which is critical for further upward momentum. If the index sustains above 23,700, the first target would be 23,900, followed by 24,000, a key resistance zone. However, failure to maintain levels above 23,700 could pull the index down toward the 23,600–23,500 range, experts suggested. Overall, the index is expected to trade within the 23,500–24,000 range in the upcoming sessions. The Nifty 50 has displayed a bullish candlestick pattern on the daily timeframe, forming higher highs and higher lows—a positive signal. However, the broader sentiment remains weak as the index is still trading below the 10, 20, 50, and 100-day EMAs. Momentum indicators, such as the RSI and MACD, also reflect a negative bias. he Bank Nifty managed to close above both the 200-day EMA and 200-day SMA, defending these critical levels. Additionally, it held above an upward-sloping support trendline, which is a positive indicator. However, it continues to trade below the 10, 20, 50, and 100-day EMAs and remains in the lower band of the Bollinger Bands. The negative bias in momentum indicators suggests short-term weakness.
