Nifty:26027.3/-19.65/-0.08%;Candle:OGD;Long day green; Bank Nifty:59461.8/72.85/0.12% Candle:OGD;Long day green ; HB:OGD;Short day green;995;RIL:OGD;Short day green;1557;TCS:OGD;Short day green;3227;
Market wrap up(DWM,T,N,E):The Nifty 50 snapped its two-day winning streak and finished the session marginally lower on December 15. The index sustained above all key moving averages but remained slightly below the midline of the Bollinger Bands (26,032). If the index reclaims and sustains above this level, a rally towards 26,200–26,300 cannot be ruled out in the upcoming sessions. However, until then, it may consolidate, with support placed in the 25,750–25,700 zone, according to experts. The Nifty 50 formed a bullish candle on the daily charts, which is positive, but it could not close above the previous day’s high. The index sustained above all key moving averages but failed to close above the midline of the Bollinger Bands. The Stochastic RSI maintained a positive crossover, while the RSI slipped slightly to 53.68 and stayed marginally below the reference line. Histogram weakness faded for the third consecutive session, but the MACD remained below the reference line. All these indicators suggest consolidation with a positive bias. The Bank Nifty formed a bullish candle and closed above the downward-sloping resistance trendline, while also sustaining above all key moving averages and the midline of the Bollinger Bands, which is a positive sign. The Stochastic RSI maintained a bullish crossover, while the RSI rose to 59.18 though remained below the reference line. The weakness in the histogram faded further, though the MACD continued to stay below the reference line. All these indicators suggest improving momentum with cautious optimism.
