Market wrap up(DWM,T,N,E):The Nifty 50 extended its upward journey with moderate gains of 34 points amid rangebound trading on July 30, especially ahead of the monthly F&O contracts expiry due on July 31 and the FOMC meet outcome tonight where the interest rates were left unchanged. The index remained within the 50-day EMA (24,950) and 100-day EMA (around 24,600), which can act as key resistance and support levels in the upcoming sessions. If the index fails to defend the 24,650–24,600 support zone, amid a possible knee-jerk reaction to Trump’s 25 percent tariff imposition on India, the bears may gain strength. However, on the higher side, surpassing 24,950 could open the door for 25,150–25,250 levels, according to experts. The Nifty 50 formed a small bearish candle with a lower shadow on the daily charts after the previous day’s Bullish Engulfing candle, while also negating the lower highs–lower lows formation of the previous three sessions. This indicates rangebound action below the immediate hurdle of 24,900–25,000, as per the change in polarity. The index remained below the 50-day and 20-day EMAs, while the Stochastic RSI showed a bullish crossover, and MACD histogram weakness waned further. The RSI inched up further to 43.25. Altogether, these indicators suggest cautious optimism within a constrained range. The Bank Nifty continued to defend the 50-day EMA on a closing basis as well as the falling support trendline, although it formed a bearish candle on the daily timeframe and fell 71 points with above-average volumes. The banking index also negated the lower highs–lower lows pattern of the previous three straight sessions but still traded below the 20-day EMA. The RSI stood at 44.14, while both the Stochastic RSI and MACD maintained bearish crossovers, with the MACD histogram weakening further. These indicators collectively point to a continued bearish undertone, despite near-term support holding.
Market wrap up(DWM,T,N,E):The Nifty 50 snapped a three-day losing streak and gained 0.6 percent on July 29 after taking support at the 100-day EMA (24,580), but the lower highs–lower lows formation continued for the third consecutive session, and the index remained below the 50-day EMA (24,950). Hence, unless the index sustains above 24,950, rangebound trading is expected to continue, with immediate support at 24,700, followed by 24,600 as key support. Above this, 25,100 is the level to watch, according to experts. The Nifty 50 formed a bullish candle, resembling a Bullish Engulfing kind of candlestick pattern on the daily charts, which appeared near the 100-day EMA in a weak market. The follow-up session is important to watch for confirmation of this bullish reversal pattern. The index still sustained below the short-term (10- and 20-day EMA) and medium-term (50-day EMA) moving averages. The weakness in the MACD histogram is waning, while the RSI inclined upward and came back above the 40 mark at 42.05, though it remained in a bearish crossover. The Bank Nifty gained 0.24 percent and also formed a bullish candle on the daily charts, but underperformed the benchmark Nifty 50 and continued the lower tops–lower bottoms formation for the third consecutive session. The banking index came back above the 50-day EMA with above-average volumes and managed to defend the downward-sloping support trendline but still traded below short-term moving averages. The Stochastic RSI and MACD maintained a bearish crossover, with the MACD weakening further.
Market wrap up(DWM,T,N,E):The Nifty 50 corrected 0.6 percent on July 28, extending its downtrend for the third consecutive session and sustaining below the lower line of the Bollinger Bands, as well as below short- and medium-term moving averages. Considering the bearish momentum indicators, the index is likely to consolidate further with a negative bias. According to experts, the 24,600–24,550 zone (which includes the 100-day EMA) and 24,470 (the June low) are the key downside levels to watch. A breach below these could trigger a major sell-off. On the upside, in case of a rebound, the 24,800–24,900 range could act as a resistance zone. The Nifty 50 formed a bearish candle with an upper shadow on the daily charts, indicating weakness and selling pressure at higher levels. The index continued its lower highs–lower lows formation for yet another session and traded below both short- and medium-term moving averages. It is now approaching the 100-day EMA. The Relative Strength Index (RSI) dropped below 40 and stood at 36.92, while the MACD histogram weakened further. This indicates increasing bearish momentum. The Bank Nifty declined 0.8 percent and also formed a bearish candle with a long upper shadow on the daily charts, signaling selling pressure at higher levels. The index fell below the recent swing low with above-average volumes. It traded below the 50-day EMA, with a bearish crossover in both the RSI and the Stochastic RSI. The MACD histogram also showed further weakness with a bearish crossover. This reinforces the negative trend in the banking space.
Stocks retained in F&O ban: Indian Energy Exchange, RBL Bank
Stocks removed from F&O ban: Bandhan Bank
Market wrap up(DWM,T,N,E):The Nifty 50 shed its previous day’s gains and finished 0.63 percent lower on July 24, the weekly F&O expiry session. The bearish pattern formation and failure to hold above short-term moving averages signaled a possible continuation of consolidation in the upcoming sessions. According to experts, the Nifty needs to surpass and sustain above the 25,250 hurdle for an upmove toward 25,350, and then 25,550. However, below this level, the consolidation may continue, with immediate support in the 25,000–24,900 zone. The Nifty 50 formed a Bearish Engulfing candlestick pattern on the daily timeframe, accompanied by above-average volumes. The index dropped below short-term moving averages (10-day and 20-day EMAs) and has sustained in the lower band of the Bollinger Bands for the past 10 sessions. The RSI failed to give a bullish crossover, while the Stochastic RSI maintained a positive crossover, and the MACD histogram showed consistent improvement. This indicates a mixed setup, with a bias toward continued consolidation unless strong upward momentum emerges. The Bank Nifty performed better than the benchmark Nifty 50, falling only 0.25 percent. The index sustained above the midline of the Bollinger Bands and short-term moving averages, although it formed a bearish candle with a lower shadow on the daily chart, accompanied by above-average volumes. The RSI at 54.69 showed a negative crossover, while the Stochastic RSI maintained a bullish crossover, and the MACD histogram showed further improvement. This indicates a more resilient structure in Bank Nifty compared to Nifty 50, with possible consolidation or mild upward bias.
Stocks retained in F&O ban: Bandhan Bank, Indian Energy Exchange, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):After a day of minor profit booking, the Nifty 50 staged a six-tenths of a percent rally on July 23 and closed above short-term moving averages as well as a falling resistance trendline, continuing its formation of higher highs and higher lows. Hence, going forward, 25,250 is expected to be a crucial zone to watch. If the index climbs and sustains above this level, an upward move toward 25,350–25,400 is possible in the upcoming sessions. However, if it fails to do so, consolidation and range-bound trading may continue, with support at 25,100–25,000, experts said. The Nifty 50 formed a bullish candle on the daily timeframe while defending the previous day’s low for the third consecutive session. The index clawed back above the short-term moving averages (10- and 20-day EMAs), which is positive. The MACD histogram showed further improvement, and the RSI at 52.29 is on the verge of a positive crossover. The Stochastic RSI sustained its bullish crossover.
Stocks retained in F&O ban: Bandhan Bank, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market failed to see follow-through buying on July 22 due to profit booking at higher levels. The Nifty 50 shed 30 points with above-average volumes after a day of rally. Technical indicators suggest the possibility of continued consolidation until the index clearly negates the lower highs–lower lows formation. According to experts, if the index reclaims and sustains above the 25,250–25,350 zone, buying interest may push it toward 25,550. However, until then, consolidation is likely to continue, with 25,000 acting as psychological support. A breach below this level could open the door to 24,900. The Nifty 50 formed a bearish candle on the daily charts after almost testing the 20-day EMA (25,183), indicating weakness and ongoing consolidation. The index has continued to gyrate within the lower and midline of the Bollinger Bands for the last eight sessions, staying below short-term moving averages. The RSI has remained below the 50 zone at 46.65, with a bearish crossover, and the Stochastic RSI has remained sideways for more than a week now. The MACD histogram showed some further improvement. This indicates continued consolidation and a lack of clear directional strength in the near term. The Bank Nifty declined 0.35 percent, forming a long bearish candle on the daily timeframe. It failed to sustain above the midline of the Bollinger Bands, the 20-day EMA, and the upward-sloping support trendline, all signaling consolidation. The MACD histogram continued to show improvement, and the Stochastic RSI displayed a positive crossover, offering a short-term optimistic signal. However, the RSI at 51.48 maintained a negative crossover. This suggests the Bank Nifty may also remain in a consolidation phase unless it breaks decisively above key resistance levels.
Stocks retained in F&O ban: Bandhan Bank, RBL Bank
Stocks removed from F&O ban: Angel One, Hindustan Copper
Market wrap up(DWM,T,N,E):The Nifty 50 snapped its two-day losing streak and gained half a percent on July 21, making a positive start to the week. However, the index still traded below short-term moving averages (10-day and 20-day EMAs) with the continuation of the lower tops-lower bottoms formation. Until the Nifty reclaims and sustains above the 25,200-25,250 resistance zone, range-bound trading may continue, with support at 24,900. A break below this support could bring the index down to 24,700, but if it moves above the resistance zone, 25,400 will be the key level to watch, according to experts. The Nifty 50 formed a bullish candle with a lower shadow on the daily timeframe, indicating buying interest at support zones between 25,000-24,900. The traded volume was above average, suggesting that the bullish move has solid backing. The index defended the 50-day EMA, but still traded below the 20-day EMA. The MACD histogram showed some improvement, and the RSI at 47.63 inclined upward, although it still displayed a sustained bearish crossover. This indicates that while there is some upward momentum, the market sentiment remains cautious until a stronger move above the key resistance levels is confirmed. The Bank Nifty recouped all of its previous day’s losses and gained 1.2%, forming a bullish candle with a lower shadow on the daily charts, signaling buying interest at lower levels. The banking index climbed above the 20-day EMA and tested the midline of the Bollinger Bands intraday. The MACD histogram also showed improvement after a couple of days of weakness, while the RSI climbed above the 50-mark at 54.10 and sharply inclined upward. This suggests that the banking sector is showing signs of strength, with potential for further upside if the momentum is sustained.
Stocks retained in F&O ban: Angel One, Hindustan Copper
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 snapped two-day gains and finished the weekly F&O expiry session with a 0.4 percent loss on July 17. Overall, the index still shows sideways action with a negative bias, considering the technical indicators, and may be waiting for a trigger to gain a firm direction. Until it shows a decisive close above the 20-day EMA (around 25,250), the consolidation may continue, with immediate support at 25,000 and then at 24,900 levels. Above 25,250, the immediate resistance is placed at 25,350 (the upper zone of the bearish gap of July 11), as sustaining above it can drive Nifty toward 25,550 and 25,700 levels, according to experts, The Nifty 50 saw a bearish candle formation on the daily timeframe, negating the higher highs-higher lows formation of the previous two sessions. The index still sustained below short-term moving averages (10 and 20-day EMAs) and reached near the 50% Fibonacci retracement (June low-high – 25,070), which generally acts as support. The MACD maintained a bearish crossover with a weakening histogram, and the RSI dropped below 50 to 47.56 with a negative crossover. All these signals indicate consolidation with a negative bias. The Bank Nifty formed a long bearish candle on the daily charts and failed to close above the falling resistance trendline, declining by 340 points. The index closed below the 10-day EMA but continued to defend the 20-day EMA (56,800) as well as the upward sloping support trendline. The MACD maintained a negative crossover with a weakening histogram, and the RSI at 52.99 failed to show a positive crossover, sustaining in the bearish crossover. All of this indicates further consolidation with a negative bias.
Stocks removed from F&O ban: Glenmark Pharma, RBL Bank
Market wrap up(DWM,T,N,E):The Nifty 50 extended its uptrend, albeit with moderate gains, on July 16, closing 16 points higher with market breadth favouring the bulls. The index, after defending the 50% Fibonacci retracement level (from the June low to high), attempted twice to close above the 38.2% retracement level (25,214) and the 20-day EMA (25,250). As long as the index remains below these levels, consolidation may continue, with 25,100–25,000 acting as the support zone. However, if it manages to close strongly above these levels, 25,400 becomes the immediate resistance (23.6% retracement), followed by 25,550, according to experts. The Nifty 50 formed a small green candle with a minor upper shadow and a long lower shadow, resembling a Doji-like pattern on the daily timeframe—indicating indecision among bulls and bears. The index continued to trade below its short-term moving averages (10-day and 20-day EMA) and the midline of the Bollinger Bands, which are key resistance zones. The momentum indicator RSI, at 51.05, maintained sideways action, while the Stochastic RSI gave a positive crossover in the oversold zone. Additionally, there was some improvement in the MACD histogram. These technical indicators suggest a potential shift in momentum, but confirmation through a strong directional move is awaited. The Bank Nifty formed a High Wave-like pattern on the daily charts after rising for three consecutive sessions and closed near the downward-sloping resistance trendline. A decisive move above this trendline is crucial for further upside. The index sustained above both short- and medium-term moving averages, and the volume was above average. The RSI, at 58.76, appears to be inching upward and is on the verge of a positive crossover, while the Stochastic RSI showed a positive crossover. There was also further improvement in the MACD histogram. These technical indicators suggest increasing bullish momentum, but a breakout above the resistance trendline is needed to confirm continued strength.
