Market wrap up(DWM,T,N,E):The Nifty 50 closed the range-bound session flat with a negative bias on November 28, rising 0.5 percent for the week and nearly 2 percent for the month. The index sustained near the upper Bollinger Bands with positive momentum indicators. Hence, the bulls still have the upper hand despite moderate profit-booking after the record-high rally. If the index reclaims and sustains above last week’s high of 26,310, an upward move toward 26,400–26,500 is likely in the upcoming sessions, while immediate crucial support is placed in the 26,100–26,000 zone, according to experts. The Nifty 50 closed within the previous day’s range and formed a small bearish candle with upper and lower shadows on the daily charts, indicating some volatility. However, the larger degree higher-high–higher-low pattern remains intact, with expansion in the Bollinger Bands. The index sustained well above all key moving averages, while the RSI (62.9), Stochastic RSI, and MACD maintained buy signals with the histogram sustaining above the zero line. All this indicates continued bullish bias. The Bank Nifty extended its uptrend for the third straight session despite a flat close near the upper Bollinger Band, forming a Doji pattern on the daily charts which indicated indecision after hitting a record high on Friday. Overall, the trend remains up, with short- and medium-term moving averages trending higher and the index sustaining near the upper Bollinger Bands. Momentum indicators also maintain a bullish bias, with the RSI at 72.18 and the MACD histogram sustaining above the zero line. All this indicates continued strength in the index.
