Nifty:25758/-81.65/-0.32%;Candle:OF;Long day red; Bank Nifty:58960.4/-261.95/-0.44% Candle:OGU;Long day red; ; HB:OF;Long day red;990;RIL:OF;Doji;1534;TCS:OF;Long day red;3185;
Stocks retained in F&O ban: Bandhan Bank, Sammaan Capital
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 remained under pressure for the third straight session on December 10, declining a third of a percent and sustaining below short-term moving averages. Momentum indicators also weakened further, signalling caution ahead of the Federal Reserve meeting outcome, in which the central bank cut the fed funds rate by 25 bps. The index managed to defend the 50-day EMA (25,700) for another session, but a fall and sustained close below this level in the coming sessions could strengthen the bears and open the door for a decline toward 25,500, the key support zone. On the higher side, 25,950–26,000 is expected to act as the immediate resistance zone, according to experts. The Nifty 50 formed a bearish candle with an upper shadow on the daily timeframe, signalling weakness and a continuation of the sell-on-rise opportunity. The index continued to trade below short-term moving averages. It approached the 50-day EMA and slipped below the lower line of the Bollinger Bands. Further, bearish crossovers persisted in the momentum indicators — RSI (44.50), MACD, and Stochastic RSI. All these factors indicate sustained bearish sentiment. The Bank Nifty formed a bearish candle following the previous day’s green candle on the daily charts and fell below the 59,000 level for the first time since November 25, signalling a bearish tone. The index also moved below short-term moving averages and the midline of the Bollinger Bands on a closing basis after a long time. Weakness was also visible in the momentum indicators, with the RSI slipping to 52.2 and the MACD histogram declining further. All these indicate continued pressure on the banking index.
