Nifty:26215.55/10.25/0.04%;Candle:OGU;Short day red; Bank Nifty:59737.3/209.2/0.35% Candle:OGU;Short day green;59737; HB:OGU;Short day green;1009;Tcs:OGU;Long day red;3135;RIL:OGU;Short day rec;1565.
Market wrap up(DWM,T,N,E):The benchmark Nifty 50 finally hit a fresh record high above 26,300 after a 14-month consolidation phase, and managed to close flat with a positive bias on November 27. The expansion in Bollinger Bands, along with constructive technical and momentum indicators and a falling VIX, signalled a positive market mood. Experts expect the index to march toward 26,500–26,600 in the upcoming sessions, though intermittent consolidation is likely. Support is placed at 26,000–26,100, followed by 25,900–25,850 as the crucial support zone. The Nifty 50 formed a bearish candle with upper and lower shadows on the daily timeframe, signalling consolidation after the breakout. However, the index continued its higher-high and higher-low structure, while key moving averages trended upward. The RSI at 63.45 sustained above its reference line, with a positive crossover in the Stochastic RSI. The MACD showed a bullish crossover with further strengthening in the histogram. All this indicates ongoing bullish momentum despite near-term consolidation. The Bank Nifty outperformed the benchmark Nifty 50, rising 0.35 percent. It formed a bullish candle with an upper shadow on the daily charts and maintained a higher-top, higher-bottom formation, signalling continuation of its upward journey. The index hit a fresh high of 59,866 and closed near the upper line of the Bollinger Bands, which expanded on both sides. The RSI at 72.05, along with the Stochastic RSI and MACD, maintained bullish crossovers, with the MACD histogram climbing above the zero line. All this indicates strong bullish momentum and the potential for further upside.
