Nifty:25936.2/-29.85/-0.11%;Candle:OF;Doji; Bank Nifty:58214.1/99.85/0.17% Candle:OF;Short day green ;58214; HB:OF;Short day green;1005; TCS:OGD;Doji;3060;RIL:OF;Doji;1490;
Market wrap up(DWM,T,N,E):The Nifty 50 closed the monthly F&O expiry session flat with a negative bias and formed an indecisive pattern on October 28. Overall, the bulls still hold the upper hand, supported by healthy technical indicators. Hence, experts believe the benchmark index is gradually expected to reclaim 26,100, followed by 26,300 (near its previous record high) in the upcoming sessions, once it starts trading above the psychological 26,000 mark. On the downside, support is placed in the 25,850–25,800 zone. he Nifty 50 formed a Doji candlestick pattern, indicating indecision among bulls and bears after a bullish candle formation in the previous session. All key moving averages continued to trend higher, with the 5-day EMA acting as support since the start of the current month. The RSI sustained above the 70 zone despite a normal pullback, while the MACD maintained its upward trajectory with the histogram positioned above the zero line. All these factors indicate that the overall bullish structure remains intact despite ongoing consolidation phase. The Bank Nifty formed a bullish candle with a lower shadow on the daily timeframe, signalling a positive bias with buying interest emerging at lower levels. The banking index, which gained 100 points, remained above all key moving averages, with these averages trending upward. The RSI, at 72.88, stayed strong, while the MACD continued its upward journey with the histogram above the zero line. All these indicators suggest that the bullish momentum remains intact, and any dips are likely to attract buying interest.
