Nifty:26052.6/142.6/0.5%;Candle:OF;Long day green; Bank Nifty:59216.05/316.8/0.5% Candle:OF;Short day green; HB:OGD;Short day green;995;Tcs:OGD;Long day;green;3147;RIL:OF;Doji;1519
Market wrap up(DWM,T,N,E):The Nifty 50 bounced back with a stellar performance, rising over half a percent on November 19 despite weak overall market breadth. The technical and momentum indicators remained in favour of the bulls, signalling a positive mood going ahead. The index climbed toward 26,100—the crucial hurdle—for the third time since October. If the index successfully crosses and consistently holds above this zone, a move toward 26,300 (near the record high) could be easily seen in the upcoming sessions. However, support is placed in the 25,750–25,850 zone, according to experts. The Nifty 50 formed a long bullish candle and closed above the high of the previous day’s bearish candle on the daily charts, signalling strength and continuation of the upward trend. The short- and medium-term moving averages were inclined northward, while the RSI at 64.21 and the Stochastic RSI maintained a bullish crossover. The MACD also showed a positive crossover with the histogram climbing above the zero line. All this indicates sustained bullish momentum and strong buying interest at lower levels. The Bank Nifty sustained above the upper line of the Bollinger Bands for the third straight session, rising 0.54 percent to register a new closing high and forming a bullish candle with a lower shadow on the daily timeframe—signalling that bulls remain firmly in control. The RSI jumped to 72.88, and the Stochastic RSI continued its upward journey with a bullish crossover. The MACD remained in a positive crossover with further strengthening in the histogram. All this indicates robust bullish momentum and the possibility of continued upside in the near term.
