Market wrap up(DWM,T,N,E):The selling pressure mounted for the second straight session, dragging the Nifty 50 below the 100-day EMA (24,630) with a nearly 1 percent loss on the monthly derivative contracts expiry on August 28. The sentiment turned more bearish with continued weakness in momentum indicators. Hence, if the correction widens further, 24,400 (upward-sloping trendline support) and 24,340 (August low) are the levels to watch. However, in case the index rebounds, the 100-day EMA, and 24,700 level (which coincides with the midline of the Bollinger Bands and Thursday’s high) could act as possible resistances, according to experts. The Nifty 50 formed another long bearish candle on the daily timeframe, with a continuing lower highs–lower lows structure and above-average volumes, signaling a negative trend. With Thursday’s fall, the index is now trading below the 20-, 50-, and 100-day EMAs, while the RSI at 40.79 has triggered a bearish crossover, indicating weakening momentum. Additionally, the MACD is on the verge of a negative crossover, and positive momentum in the histogram has faded further. This indicates a strong bearish setup in the short term, increasing the likelihood of further downside unless a sharp reversal occurs. The Bank Nifty continued to underperform compared to the benchmark Nifty 50, falling 1.16 percent and forming a long bearish candle on the daily timeframe, again with above-average volumes. The index is now trading below the lower line of the Bollinger Bands, and is approximately 250 points away from its 200-day EMA, and 400 points away from the 50% Fibonacci retracement level (from the April low to the July high). Furthermore, the 10-, 20-, and 50-day EMAs are trending downward. The RSI at 28.58 has now entered the oversold zone, while the MACD retains its bearish crossover, and the histogram continues to weaken. This indicates continued bearish momentum, and unless a reversal is triggered, further downside could follow.
Stocks removed from F&O ban: Titagarh Rail Systems
Market wrap up(DWM,T,N,E):The Nifty 50 succumbed to selling pressure on August 26, falling 1 percent and breaking below short- and medium-term moving averages in a single session with significantly higher volumes. Hence, some more weakness amid volatility can’t be ruled out in the upcoming session, i.e., the monthly F&O expiry day. If the index decisively breaks the 100-day EMA (24,635) support, the selling could drag it down toward 24,500 (the 78.6% Fibonacci retracement of the recent rally). However, consistently defending this level could lead to some consolidation, followed by a short-covering rally toward the 24,900–25,000 zone, according to experts. The Nifty 50 formed a long bearish candle on the daily timeframe, falling below the 20- and 50-day EMAs as well as the midline of the Bollinger Bands, signalling weakness. The RSI dropped to 45.92 with a negative crossover, while the MACD maintained a bullish crossover, though it tilted slightly downward. The histogram remained above the zero line. This indicates potential caution, despite some underlying strength. The Bank Nifty has decisively broken its upward-sloping support trendline and formed a long red candle on the daily charts with above-average volumes, indicating a negative trend. With Tuesday’s fall, the banking index is now trading below the 20-, 50-, and 100-day EMAs. The RSI dropped to 33.43, moving closer to the oversold zone, while the MACD gave a bearish crossover, with the histogram falling below the zero line. This indicates a weakening momentum and possible continued pressure.
Stocks removed from F&O ban: Titagarh Rail Systems
Market wrap up(DWM,T,N,E):The Nifty 50 succumbed to selling pressure on August 26, falling 1 percent and breaking below short- and medium-term moving averages in a single session with significantly higher volumes. Hence, some more weakness amid volatility can’t be ruled out in the upcoming session, i.e., the monthly F&O expiry day. If the index decisively breaks the 100-day EMA (24,635) support, the selling could drag it down toward 24,500 (the 78.6% Fibonacci retracement of the recent rally). However, consistently defending this level could lead to some consolidation, followed by a short-covering rally toward the 24,900–25,000 zone, according to experts. The Nifty 50 formed a long bearish candle on the daily timeframe, falling below the 20- and 50-day EMAs as well as the midline of the Bollinger Bands, signalling weakness. The RSI dropped to 45.92 with a negative crossover, while the MACD maintained a bullish crossover, though it tilted slightly downward. The histogram remained above the zero line. This indicates potential caution, despite some underlying strength. The Bank Nifty has decisively broken its upward-sloping support trendline and formed a long red candle on the daily charts with above-average volumes, indicating a negative trend. With Tuesday’s fall, the banking index is now trading below the 20-, 50-, and 100-day EMAs. The RSI dropped to 33.43, moving closer to the oversold zone, while the MACD gave a bearish crossover, with the histogram falling below the zero line. This indicates a weakening momentum and possible continued pressure.
Stocks retained in F&O ban: PG Electroplast, RBL Bank,
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 erased recent days’ gains and reversed to near Monday’s low, losing 214 points on August 22 and over 290 points from the weekly high. Despite the formation of a long red candle, the index defended all short- and medium-term moving averages, as well as the midline of the Bollinger Bands. Hence, if the index rebounds, the 25,000 level is the one to watch, followed by 25,150 as a crucial hurdle. However, immediate support is placed at 24,850 (Friday’s low), as a break below this level may lead bears into the bullish gap area of August 18, according to experts. The Nifty 50 formed a big bearish candle on the daily charts, signaling a negative trend, but the trading volume was lower compared to the previous session. Moreover, the index remained above all key moving averages and the midline of the Bollinger Bands, which is a positive sign. While the bullishness in the histogram faded slightly, the MACD still maintained a bullish crossover and moved closer to the zero line. The RSI bent down and fell to 50.59 but remained in the upper band with a positive crossover. This indicates that the broader trend remains intact, though momentum has weakened a bit. The Bank Nifty also formed a long red candle and traded below the 10-, 20-, and 50-day EMAs, as well as the midline of the Bollinger Bands on the daily timeframe—indicating nervousness. The banking index is approaching the 100-day EMA (55,000) and the August low (54,900). A decisive fall below these levels could further strengthen the bears. The RSI dropped to 40.52 with a negative crossover, while the histogram’s bullish bias faded slightly. However, the MACD still shows a positive crossover, albeit below the zero line. This indicates caution, with a slight bullish undertone yet diminishing momentum.
Stocks retained in F&O ban: PG Electroplast, RBL Bank
Stocks removed from F&O ban: Titagarh Rail Systems
Market wrap up(DWM,T,N,E):The Nifty 50 sustained its upward journey for the sixth consecutive day, despite profit booking at higher levels, rising 33 points amid rangebound trading on August 21. The index continued to defend the 25,000 zone and traded near the upper line of the Bollinger Bands, signaling a positive trend. A consistent bullish bias helped the index move closer to 25,160 (the 61.8% Fibonacci retracement level of the 25,669–24,337 decline), but it failed to sustain that level. This is expected to remain an immediate hurdle in the upcoming session. Above this, 25,250 becomes a crucial target to watch. Until then, the index is likely to consolidate with support at 25,000, according to experts. The Nifty 50 formed a bearish candle due to profit booking at higher levels, but it continued the pattern of higher highs and higher lows on the daily charts. The bullish bias remains intact, as the index stayed above the 50% Fibonacci retracement level and all key moving averages. The 10-, 20-, 50-, and 100-day EMAs trended upward, while the histogram turned further strong. The MACD continued inching closer to the zero line with a sustained bullish crossover, and the RSI climbed to 57.88. The Bank Nifty also formed a bearish candle on the daily charts but managed to defend the previous day’s low. The index continued to hover around the 20- and 50-day EMAs, and the midline of the Bollinger Bands, for the fourth consecutive session, while also staying above the 10-day EMA, which has been trending upward during the same period. The RSI, at 48.16, remained sideways after the recent rally, while the histogram showed a positive bias for the third straight session, with a bullish crossover in the MACD. This indicates a potential base-building phase with positive undertone.
Stocks retained in F&O ban: RBL Bank, Titagarh Rail Systems
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The ongoing momentum lifted the Nifty 50 above the psychological 25,000 mark on a closing basis, with the index rising 70 points on August 20 and extending its uptrend for the fifth straight session ahead of the weekly F&O expiry. Technical indicators signal a bullish bias, with short-term moving averages turning upward. According to experts, if the index sustains above 25,000—the immediate support level—then 25,170 and 25,250 are the levels to watch on the higher side in the upcoming sessions. On the downside, 24,850 (the low of the bullish breakaway gap day on Monday) is expected to act as crucial support. The Nifty 50 formed a bullish candle and closed above the highs of the previous couple of sessions, along with a breakout from a falling trendline—signalling a continuation of the bullish trend. The 20-day and 50-day EMAs trended upward, while the MACD maintained its bullish crossover and the histogram gained further strength. The RSI jumped to 56.99, indicating the possibility of more upside in the near term. The Bank Nifty continued to underperform the benchmark Nifty 50, falling below its 20-day and 50-day EMAs as well as the midline of the Bollinger Bands, although it managed to defend the 10-day EMA, which remains upward sloping. The index formed a small red candle with a minor upper shadow and a slightly longer lower shadow—almost entirely within the previous day’s green candle—indicating a rangebound session. Further, the MACD retained its positive crossover with continued strength in the histogram. Meanwhile, the RSI stood at 47.29, holding its bullish crossover despite trending slightly downward. These signals point to a cautiously positive bias, albeit with limited momentum.
Stocks retained in F&O ban: RBL Bank, Titagarh Rail Systems
Stocks removed from F&O ban: PG Electroplast
Market wrap up(DWM,T,N,E):The Nifty 50 extended its upward journey for the fourth consecutive session, rising 0.4 percent on August 19, though it traded within the previous day’s range. The index remained above key moving averages, and the momentum indicators showed a bullish crossover. According to experts, after the recent rally, the index might consolidate; however, the overall trend remains positive. It needs to surpass and sustain above the 25,000 zone, which is a crucial level for a further sharp rally toward 25,250. On the downside, 24,850 (Monday’s low) is expected to act as a support zone in the near term. The Nifty 50 formed a bullish candle with an upper shadow beside the previous day’s red candle on the daily timeframe, indicating rangebound action. The index stayed above all key moving averages, with the 10-day and 20-day EMAs inclining upward. The 50-day EMA is on the verge of turning upward, which is considered positive. The RSI climbed to 55.12 with a bullish crossover, and the histogram gained more strength, with the MACD maintaining a positive crossover, though still below the zero line. This indicates bullish undertone amid consolidation. The Bank Nifty finally closed above the 20-day and 50-day EMAs as well as the midline of the Bollinger Bands in a single session, with the 10-day EMA inclining upward. The index formed a bullish candle on the daily charts, indicating a positive trend. The MACD gave a bullish crossover with the histogram gaining strength, and the RSI jumped to 49.55 with a positive crossover. This indicates renewed bullish momentum in the banking space.
Stocks retained in F&O ban: PG Electroplast, RBL Bank, Titagarh Rail Systems
Stocks removed from F&O ban: PNB Housing Finance
Market wrap up(DWM,T,N,E):The Nifty 50 staged a strong performance on August 18, rising 1 percent following buzz around GST reforms. The index witnessed a robust gap-up opening and is now trading above all key moving averages, with a bullish crossover in momentum indicators. As long as the index defends the bullish gap between 24,670–24,850, an upward move toward 25,000, followed by 25,250 (a crucial level for negating the lower highs–lower lows structure), cannot be ruled out. On the flip side, the 24,700–24,600 zone is expected to act as a strong support area, while the August low of 24,337 is likely to serve as a near-term bottom, according to experts. The Nifty 50 formed a bearish candle with a long upper shadow on the daily charts after the strong gap-up opening, indicating a potential reversal pattern. Despite this, the index climbed above the 20-day and 50-day EMAs, as well as the midline of the Bollinger Bands. The MACD showed a positive crossover below the zero line, with the histogram turning positive. The RSI jumped to 52.28, accompanied by a healthy bullish crossover. These developments indicate building bullish momentum, despite the bearish candle formation. The Bank Nifty displayed a similar pattern after a gap-up opening but failed to sustain above the 20-day and 50-day EMAs and the midline of the Bollinger Bands on a closing basis. The index, however, has seen a strong consolidation breakout. The RSI rose to 47.74, showing a bullish crossover. The MACD edged higher but remains below the zero line with a bearish crossover, although the weakness in the histogram has consistently been fading. These signals suggest that while momentum remains tentative, underlying weakness is gradually easing.
