Nifty:%;Candle:OF,24199.35/284.7/1.16; Bank Nifty:51916.5/-400.9/-0.77% Candle:OGD, ; HB:OGD,1742.
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long25%FutCash;-4889;Opt85%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: Aditya Birla Fashion & Retail, Granules India
Stocks retained in F&O ban: Nil
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 failed to sustain its northward move, as it shed all of the previous day’s gains and fell more than one percent to close just below 24,200 on November 7. Hence, for the bulls to maintain control over the market, the index needs to climb above all key moving averages. In the upcoming sessions, the index may take immediate support at 24,000, followed by 23,800, which is critical support in the event of further downside. However, on the upside, 24,500 is expected to remain a key hurdle. This suggests the index may trade in the range of 23,800–24,500, experts said. The Nifty 50 formed a long bearish candlestick pattern with a lower high-lower low formation on the daily charts, accompanied by above-average volumes, which is a negative sign. The index remained at the lower band of the Bollinger Bands, while for the week, the index formed a High Wave pattern on the weekly timeframe for another week, indicating indecision among bulls and bears regarding the future market trend. The Bank Nifty also formed a red candle on the daily charts, with a lower top-lower bottom formation on the daily timeframe, falling 401 points to 51,917. However, it sustained above all key moving averages, which is crucial for further uptrend potential. The momentum indicator MACD (Moving Average Convergence Divergence) climbed above the zero line with a positive crossover, indicating a positive sign. Overall, the index has been trading in a broad range of 50,500–52,600 for the past month.
