Nifty:25966.4/150.85/0.58%;Candle:OGU;; Bank Nifty:59069.2/156.35/0.27% Candle:OGU;Doji ; HB:OGU;Short day red;985;RIL:OGU;Short day green;1565;TCS:OGU;Short day red;3285;
Market wrap up(DWM,T,N,E):The Nifty 50 bounced back sharply on December 19 after four days of weakness, recouping all the previous three-day losses in a single session. Regaining levels above short-term moving averages and the falling resistance trendline, along with significantly higher volumes and a bullish crossover in momentum indicators, supported market sentiment. Hence, if the index maintains its upward journey and sustains above the 26,000 zone, the 26,200–26,300 levels will be crucial to watch in the upcoming sessions. However, the 25,800–25,700 zone is expected to act as a key support, according to experts. The Nifty 50 formed a bullish candle with minor upper and lower shadows on the daily charts after a gap-up opening, signalling a positive trend despite volatility. The index negated lower high-lower low formation of previous four consecutive sessions. It defended the 50-day EMA and the rising support trendline and closed above short-term moving averages as well as the falling resistance trendline. The RSI rose to 52.07 with a positive crossover, and the Stochastic RSI also turned bullish, while the MACD histogram showed fading weakness. All these indicators suggest strengthening bullish momentum. The Nifty 50 formed a bullish candle with minor upper and lower shadows on the daily charts after a gap-up opening, signalling a positive trend despite volatility. The index negated lower high-lower low formation of previous four consecutive sessions. It defended the 50-day EMA and the rising support trendline and closed above short-term moving averages as well as the falling resistance trendline. The RSI rose to 52.07 with a positive crossover, and the Stochastic RSI also turned bullish, while the MACD histogram showed fading weakness. All these indicators suggest strengthening bullish momentum.
