Nifty:25227.5/-58/-0.23%;Candle:OGD;; Bank Nifty:56625/15.25/0.03% Candle:OGD; Short day green; HB:OGD;977;Short day green;TCS;OF;Short day red;3007; RIL;OGD’1376;Doji;
Stocks retained in F&O ban: RBL Bank, Sammaan Capital
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):Bulls took a breather after a two-day rally as the Nifty 50 fell 0.23 percent following a gap-down opening on October 13, driven by renewed US-China trade tensions. However, the broader bullish trend remained intact. The index continued to form a higher high–higher low pattern, supported by healthy momentum indicators. It defended the 25,150–25,200 zone, which can act as immediate support, with 25,000 serving as a key support level. On the higher side, the 25,400–25,500 range is expected to be a key resistance zone. A decisive move above this range could open the door to test the June swing high of 25,670, according to experts. The Nifty 50 formed a bullish candle with minor upper and lower shadows on the daily charts, despite a moderate correction, indicating strong recovery from the day’s low amid volatility. The index traded well above the 20-, 50-, and 100-day EMAs, all of which are trending higher. The MACD maintained its bullish crossover with consistent strength in the histogram. The RSI also held a positive bias, though it tilted down to 58.5, while the Stochastic RSI sustained a bullish crossover. All of this indicates underlying strength and continued positive momentum. The Bank Nifty also formed a bullish candle with a minor upper shadow on the daily timeframe, reflecting buying interest despite some pressure at higher levels. The index stayed above the downward-sloping resistance trendline for another session and continued to trade above all key moving averages. The 20-, 50-, and 100-day EMAs remained upward-trending. Meanwhile, the RSI rose to 66.90, and the MACD remained strong, with continued strength in the histogram. All of this indicates sustained bullish momentum and underlying strength in the index.
