Market wrap up(DWM,T,N,E):The Nifty 50 failed to extend the previous day’s upward momentum and ended the choppy session with moderate losses of 46 points on July 9. However, the index continued to hold above the 10-day and 20-day EMAs, while the RSI remained above the 60 mark, and the India VIX dropped to its lowest level in over 13 months. Collectively, these indicators suggest that the underlying trend remains positive, despite potential choppiness and consolidation in the near term. From a levels perspective, a decisive move above the 25,550 zone could open the path toward 25,700–25,800. Conversely, a break below the 25,400–25,300 support zone could lead the index toward 25,200–25,000, according to experts. The Nifty 50 formed a bearish candle with upper and lower shadows on the daily chart, reflecting a rangebound session. Despite this, the index continued to sustain above the 10-day EMA. The upper band of the Bollinger Bands expanded further, indicating the potential for increased volatility. The MACD remained above the zero line, signaling that the broader trend is still intact, though a minor negative crossover and weakness in the histogram were noted. The RSI stayed above the 60 mark, although it showed a negative crossover in the upper band, hinting at a possible slowdown in momentum. The Bank Nifty formed a Doji-like candlestick pattern on Wednesday, following a bullish candle in the previous session, indicating indecision between bulls and bears. The index traded within the previous day’s range, while continuing to hold well above the 10-day EMA. The RSI remained above the 60 zone, though a negative crossover was observed. Both the RSI and the Stochastic RSI moved sideways during the week, suggesting a neutral trend with no strong bullish or bearish bias.
