Nifty:25910.05/30.9/0.12%;Candle:OGD;Short day green; Bank Nifty:58517.55/135.6/0.23% Candle:OGD;Long day green; HB:OGD;Long day green;989;Tcs:OGD;Short day green;3112;RIL:OGD;Short day green;1518;
Market wrap up(DWM,T,N,E):The late trade recovery helped the Nifty 50 close at a more than two-week high, i.e., above 25,900, especially after the mandate for the NDA in the Bihar elections, up 0.1 percent on November 14, with strengthening technical and momentum indicators. As long as the index sustains above 25,700, the upward journey toward the 26,000–26,100 hurdle is possible in the upcoming sessions; however, falling below this can bring the index toward the crucial support of the 25,500–25,450 zone, according to experts. The Nifty 50 formed a long bullish candle on the daily charts with above-average volumes, sustaining above all key moving averages and in the upper Bollinger Band. The short-term moving averages trended upward. The RSI stayed above the 60 level at 62.24 with a bullish crossover, and the Stochastic RSI remained in a positive crossover. The histogram inched closer to the zero line, and the MACD inclined toward the reference line. All this indicates strengthening bullish momentum and the potential for continued upside in the near term. The Bank Nifty sustained above the falling trendline (which was resistance earlier and now acts as support) for the third straight session and reached the upper line of the Bollinger Band, forming a long bullish candle on the daily timeframe. The index ended at a new closing high with 0.23 percent gains, sustaining above all key moving averages. The RSI, at 67.08, showed a positive crossover, and the Stochastic RSI sustained its bullish crossover. The MACD histogram weakness has consistently been fading. All this indicates a continuation of the prevailing uptrend with strong buying interest and supportive momentum.
