Nifty:25879.15/3.35/0.01%;Candle:OGU;Short day red; Bank Nifty:58381.95/107.3/0.18% Candle:OGD;Short day green; HB:OGD;Short day green;986;Tcs:2105;OF;Short day red;RIL:1512;OF;Doji
Market wrap up(DWM,T,N,E):The Nifty 50 continued its uptrend and higher-high structure for the fourth consecutive session, though it lost more than 130 points from the day’s high (a tad above 26,000) to close flat with a positive bias on November 13. Further, the index stayed above all key moving averages, with improving momentum indicators. Hence, the trend remains favourable for the bulls. For a further uptrend toward the 26,100–26,200 zone, the index needs to climb and sustain above 26,000. Until then, consolidation and range-bound trading may be seen, with support at 25,800–25,700, according to experts. The Nifty 50 formed a small bearish candle with upper and lower shadows, resembling a high-wave or Doji-like candlestick pattern on the daily timeframe, signalling volatility and indecision among bulls and bears. The short-term moving averages trended upward, with the RSI climbing to 61.36 and showing a positive crossover. The Stochastic RSI maintained its bullish crossover, while the weakness in the histogram faded further, though the MACD remained below the reference line. All these factors indicate a continuation of a healthy trend ahead. The Bank Nifty sustained above the falling trendline (which earlier acted as a resistance and now serves as a support) despite witnessing pressure at higher levels. The index hit an intraday record high of 58,616 and formed a bullish candle with an upper shadow on the daily charts. It also remained above all key moving averages, with the RSI at 65.61 crossing the reference line on the higher side, while the Stochastic RSI maintained its bullish crossover. The MACD stayed in a bearish crossover above the zero line, but the weakness in its histogram faded further. All these indicators suggest underlying strength in the banking index.
