Nifty:25960.55/-225.9/-0.86%;Candle:OGD;Long day red; Bank Nifty:59238.55/-538.66/-0.9% Candle:OGD;Long day red ; HB:OGD;Short day green;1002;RIL:OF;Doji;1540;TCS:OF;Doji;3238;
Stocks retained in F&O ban: Bandhan Bank, Kaynes Technology India, Sammaan Capital
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 snapped its two-day winning streak and reversed all those gains, falling 0.86 percent on December 8. The index dropped below short-term moving averages and the midline of the Bollinger bands, with weakness in momentum indicators, signalling caution in the short term. Now, the crucial support lies at 25,840; if the index breaks below this level, 25,700 (50-day EMA) can’t be ruled out, and there could be a negation of the large-degree higher-high–higher-low structure. On the higher side, 26,100–26,200 is expected to act as a hurdle for the index, experts said. The Bank Nifty reported a bearish candle, somewhat resembling a bearish harami–type pattern (though not a classical one) on the daily charts, indicating some caution after the previous session’s rally. However, the index defended the 20-day EMA and the midline of the Bollinger bands on a closing basis. The RSI declined to 56.95 with a negative crossover, while the MACD remained below the reference line with the histogram below the zero line. All this indicates a slight loss of momentum and the possibility of consolidation or further weakness.
