Nifty:25938.85/-3.25/-0.01%;Candle:OF;Doji; Bank Nifty:59171.25/238.9/0.41% Candle:OF;Short day green ; HB:OGD;Short day green;995;RIL:OGD;Doji;1541;TCS:OGD;Doji;3255;
Market wrap up(DWM,T,N,E):The benchmark Nifty 50 finished the session flat with a negative bias on the monthly F&O expiry day on December 30, extending its downtrend for the fourth consecutive day. Technical and momentum indicators remained bearish; however, the recovery toward the psychological 26,000 mark in the afternoon and the formation of a neutral pattern at the support level (after the recent decline) raised the possibility of a bounce-back in the upcoming sessions. In such a case, an upward move toward the 26,100–26,300 zone is possible. However, failure to confirm a rebound in the following session could drive the index down toward the 25,800–25,700 zone, experts said. The Nifty 50 formed a Doji candlestick pattern on the daily timeframe at the support level, indicating indecision between bulls and bears after the recent decline. The index remained below short-term moving averages and the midline of the Bollinger Bands. Momentum indicators continued to signal bearishness, with the RSI sustaining below the 50 mark. All these factors indicate a cautious outlook and the need for confirmation in the next session. The Bank Nifty formed a bullish candle, resembling a bullish engulfing-type pattern (not a classical one), on the daily charts after the recent decline, indicating improving sentiment. The index took support at an upward-sloping trendline and climbed above short-term moving averages. It tested but failed to close above the midline of the Bollinger Bands. Momentum indicators turned mildly supportive, with the RSI (53.25) on the verge of a bullish crossover and the Stochastic RSI climbing above the reference line. The MACD stayed below the reference line, though weakness in the histogram faded. All these factors indicate emerging strength, though confirmation is still awaited.
