{"id":1863,"date":"2023-12-10T16:17:33","date_gmt":"2023-12-10T16:17:33","guid":{"rendered":"https:\/\/fintechcentre.in\/articles\/?p=1863"},"modified":"2023-12-10T16:17:33","modified_gmt":"2023-12-10T16:17:33","slug":"things-to-notetradersinvestors-8th-dec-2023-fri-8-20am","status":"publish","type":"post","link":"https:\/\/fintechcentre.in\/articles\/2023\/12\/10\/things-to-notetradersinvestors-8th-dec-2023-fri-8-20am\/","title":{"rendered":"Things to note(Traders&Investors): 8th Dec 2023 Fri ,@8.20AM"},"content":{"rendered":"\n

Nik, Dj, Vix<\/li>\n\n\n\n
Oil,\u00a0 Gold, Bonds, Dollar,<\/li>\n\n\n\n
Nifty:20901.5\/-36.55\/-0.17%;Candle:OF,Doji; Bank Nifty:46841.4\/6.85\/0.01% Candle:OGD,Doji ; HB:OGD,Doji,1633<\/li>\n\n\n\n
Nifty :Supp Rest<\/li>\n\n\n\n
Banknifty:Supp Rest .<\/li>\n\n\n\n
Gift Nifty:%\u00a0 \u00a0 \u00a0FII Long%FutCash;1564;Opt%<\/li>\n\n\n\n
OI data Nifty \u00a0( max pain W20900M)<\/li>\n\n\n\n
OI data Bank Nifty Nifty(max pain W M)<\/li>\n\n\n\n
News:<\/li>\n\n\n\n
Events\/Results:<\/li>\n\n\n\n
The NSE has added Balrampur Chini Mills, and National Aluminium Company to its F&O ban list for December 8, while retaining Delta Corp, Indiabulls Housing Finance, India Cements, SAIL and Zee Entertainment Enterprises to the said list.<\/li>\n\n\n\n
Market wrap up(DWM,T,N,E):The market finally entered into consolidation mode and saw profit taking on December 7, after significant upward journey in previous seven straight sessions. Hence, the said consolidation may continue for some more days with major support at 20700-20,500 area, as long as the Nifty50 trades below the psychological 21,000-mark, but in case, the index sees sharp upmove above 21,000 mark, then another phase of northward journey may be seen, experts said. On December 7, the BSE Sensex declined 132 points to 69,522, while the Nifty50 fell 37 points to 20,901 and formed bearish candlestick pattern with long lower shadow on the daily scale. Technically, \u201cthis pattern indicates a breather pattern for the market post sharp upmoves. After moving up sharply, the market is not willing to show any significant reversal on the downside itself is a positive indication for the market ahead. Such market actions more often seen during strong trended upmoves,\u201d said Nagaraj Shetti, senior technical research analyst, HDFC Securities. Hence, he feels there is a possibility of some more consolidation or minor weakness in the next\u00a0one or\u00a0two sessions before resuming decisive upmove again. \u201cImmediate resistance is placed at 20,950 levels and an upside breakout could open the next upside target of 21,550 (78.6 percent Fibonacci extension). Immediate support is at 20,830 levels,\u201d Nagaraj said. The hourly momentum indicator has a negative crossover and is still away from the equilibrium line, hence he expects the consolidation to continue over the next few trading sessions. The broader markets gained a bit of strength compared to consolidation in the past two days, with the Nifty Midcap 100 and Smallcap 100 indices rising six-tenth of a percent and 0.4 percent respectively on positive breadth. About 1,193 shares advanced against declining 933 shares on the NSE. The volatility index, India VIX also trended lower, snapping three-day upmove and closing 7.76 percent lower at 12.67 levels which provided some support to the market.<\/li>\n<\/ul>\n\n\n\n
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