Nifty:24677.1/-30.6/-0.12%;Candle:OF,Short day red; Bank Nifty:53509.5/-94.05/-0.18% Candle:OF,Short day red ; HB:OF,Short day red,1856
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-1830;Opt92%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Stocks added to F&O ban: PVR INOX, RBL Bank
Stocks retained in F&O ban: Granules India, Manappuram Finance
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):After five days of gains, the benchmark Nifty 50 closed the rangebound session with moderate losses on December 6, as market participants preferred to book some profits following the RBI outcome, which was in line with expectations. The index tested the 24,700 level (20-week SMA) and 24,800 (near the 50% Fibonacci retracement), which are expected to act as resistance levels for the index in the upcoming sessions. If these levels are surpassed, the 25,000 mark cannot be ruled out. On the downside, the immediate support zone is seen between 24,500 and 24,400 zone, with 24,200 being the next key support level, according to experts. Options data also reflects these levels. The Nifty 50 traded within the previous day’s range and formed a small red candle on the daily charts, while holding above all key moving averages and trading near the upper end of the Bollinger Bands. On the weekly timeframe, the index formed a long bullish candlestick pattern and continued its higher highs-higher lows formation for the second consecutive week, with above-average volumes, while trading above all key moving averages. The Bank Nifty also traded within the previous day’s range and formed a small bearish candlestick pattern with small upper shadows and long lower shadows on the daily charts, indicating volatility. The Bollinger Bands expanded on both sides, while the index traded above all key moving averages on both the daily and weekly timeframes, which is a positive sign. Additionally, the momentum indicator RSI (Relative Strength Index) showed a positive crossover during the week.
