Streetgains

STREETGAINS MARKETSVIEW 21NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-21november2024

STREETGAINS MARKETSVIEW 19NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-19november2024

STREETGAINS MARKETSVIEW 18NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-18november2024

The Nifty 50 extended its downtrend on November 14, closing below the 200-day Exponential Moving Average (DEMA) of 23,542 with moderate losses, marking the sixth session of consecutive lower lows. On the upside, 23,800 serves as immediate resistance. In the last trading session, after early volatility, the index briefly rebounded to a high of 23,676 but couldn’t hold gains, declining in late morning trades and remaining range-bound for the rest of the session. It closed at 23,533, down 26 points. A Gravestone Doji candlestick pattern on the daily charts indicates persistent bearish sentiment. Traders may adopt a “sell on rise” strategy as Nifty hovers in an oversold zone near the critical EMA level, suggesting any bounce could offer a selling opportunity. A break below the 200-day EMA could intensify selling pressure, with short-term support at 23,450 and resistance at 23,650.


The Bank Nifty defended its 200-day Exponential Moving Average (DEMA) at 49,906, closing 91 points higher at 50,180. This formed a bullish candlestick with a long upper shadow, resembling an Inverted Hammer, which indicates a potential bullish reversal. If the index holds above the 49,900 support, a pullback toward 50,500-50,600 may occur. While the short-term trend remains down, staying above this level keeps a rally in play.

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STREETGAINS MARKETSVIEW 14NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-14november2024

STREETGAINS MARKETSVIEW 13NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-13november2024

STREETGAINS MARKETSVIEW 12NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-12november2024

STREETGAINS MARKETSVIEW 11NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-11november2024

The Nifty 50 continued its downtrend on November 8, forming a lower-high, lower-low pattern with above-average volumes, signaling weakness. As it trades below the 10-, 20-, 50-, and 100-day EMAs, consolidation is likely, with immediate support at 24,000 and further support at 23,800. Resistance is expected at 24,200, with a key barrier at 24,500. The index closed at 24,148, down 51 points, forming a bearish candle on the daily chart, indicating choppy market movement.



Bank Nifty declined for the second session, dropping 355 points to 51,561 and breaking its 10-, 20-, and 50-day EMAs, forming a bearish candle on the daily chart. On the weekly chart, it created a small-bodied candle with long shadows, signaling a wide-range consolidation and a weekly drop of 113 points. Below 51,750, Immediate Support is of 51,250 and 50,850. Resistance stands at 52,000.

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STREETGAINS MARKETSVIEW 08NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-08november2024

STREETGAINS MARKETSVIEW 07NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-07november2024

STREETGAINS MARKETSVIEW 06NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-06november2024

The Nifty 50 started November well, boosted by Diwali Muhurat trading on November 1. However, traders are cautious as the index needs to break above 24,500 decisively. This caution is due to two upcoming global events: the U.S. elections and the Federal Reserve's interest rate decision next week. For over a week, the Nifty 50 has been stuck between 24,000 and 24,500, and this range might hold until a breakout occurs. On November 1, the Nifty 50 opened about 100 points higher at 24,303 and stayed positive, closing at 24,304, up 99 points. This formed a Doji candlestick on the daily chart, signaling indecision among traders. Key support is at 24,000, while breaking 24,500 could give bulls an advantage. The weekly chart also showed a Doji-like pattern, with the index defending last week’s low of 24,074.

The Bank Nifty ended higher on November 1, gaining 199 points to close at 51,674. It formed a small bullish candlestick pattern with a slight upper shadow, indicating some buying interest but limited momentum. The index stayed within the previous day’s trading range and struggled to stay above the 20 and 50-day Exponential Moving Averages (EMAs). Currently, the Bank Nifty is moving within a range of 50,500 to 52,500. A breakout beyond this range is needed to signal a new trend. The fact that the Bank Nifty is trading near key EMAs also supports this consolidation view. For now, traders will be watching for a move beyond the 50,500–52,500 range to confirm the next major direction

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STREETGAINS MARKETSVIEW 31OCTOBER2024 https://streetgains.in/StreetView/streetgains-marketsview-31october2024

STREETGAINS MARKETSVIEW 30OCTOBER2024 https://streetgains.in/StreetView/streetgains-marketsview-30october2024

STREETGAINS MARKETSVIEW 29OCTOBER2024 https://streetgains.in/StreetView/streetgains-marketsview-29october2024

STREETGAINS MARKETSVIEW 28OCTOBER2024 https://streetgains.in/StreetView/streetgains-marketsview-28october2024