5 results tagged #trade-brief in Market Prabhat
Sustainability above 26,150 levels and volume confirmation will determine whether yesterday's breakout has conviction or if profit-booking emerges at psychological 26,200+ zones.
POSITIVE REVERSAL SIGNAL: FIIs turned net buyers on 19-Nov (+₹1,580.72 Cr) after 3 consecutive days of selling, suggesting potential trend reversal.
Advance/Decline Ratio < 0.5 indicates broad-based selling pressure. Only 1 out of 38 sectors advanced (Consumer Durables +0.21%).
Indian markets face a cautious start amid mixed global cues and after a 6-day winning streak that pushed Nifty above 26,000 for the first time in 12 sessions.
The previous session formed a bullish hammer candlestick pattern, signaling strong support and buying interest at lower levels. PSU Banks led the charge with exceptional strength, showing an advance-decline ratio of 5.0 (10 advances vs 2 declines).