Volatility returned, but Nifty’s bull market remains intact for 5th day straight day.

*Review & Preview @4PM —— Thursday, December 5th 2024*

NIFTY (+241, 24708)
Sensex (+810, 81766)
Bank Nifty (+337, 53604)

# Digging deeper, Nifty was overreacting to the downside and the upside as bout of volatility was unnerving.

# Despite dramatic intraday selloff and then wild swing higher, the benchmark Nifty ended 0.98% higher for the day.

# Meanwhile, our stock markets could remain choppy in Friday’s trade as all eyes will be on:

3) RBI MPC outcome policy decision on Friday, Dec 6th at 10 AM. RBI is expected to maintain status quo.

4) The US, Friday’s non-farm payroll numbers will take center stage, with the US economy projected to add 183K jobs. A “too-hot” number could sway Fed policy.

# We strongly recommend investors should try to keep emotions or anxiety from impacting their investment decisions.

# Sentimental Overview:

# The running bulls continues at Dalal Street…

# Nifty actually joined the conga-line of rising global stock markets and most importantly, optimism builds after the Dow Jones rings 45000 mark and the S&P 500 and the Nasdaq notched new record highs in overnight trade.

# Our call of the day which suggests Nifty could simply rocket upward to the moon and probably, look to fly beyond the stars if FIIs too return to their buying desk.

# Technical Overview:

Nifty ended with solid gains in today’s trade forming a bullish candlestick pattern.

The street will anxiously eye FIIs data after today’s massive rebound.

Technically speaking, Nifty and Sensex are still at oversold conditions with immediate upside hurdles seen at psychological 25000 mark while Nifty’s support placed at 24250 mark.

Nifty’s 200 DMA at 23706 mark

# Outperforming Nifty Sectors:
Nifty IT (+1.87%)
Nifty INFRA (+0.76%)
Bank Nifty (+0.63%)

# Underperforming Nifty Sectors:
Nifty REALITY (-0.25%)
Nifty MEDIA (-0.06%)

# Bulls of the day:
TRENT (+3.31%)
INFY (+2.42%)
TCS (+2.31%)
TITAN (+2.19%)
DRREDDY (+2.18%)

# Bears of the day:
SBILIFE (-1.21%)
HDFCLIFE (-1.09%)
BAJAJ-AUTO (-1.05%)
NTPC (-0.90%)
GRASIM (-0.38%)
(Source NSSEINDIA.com)

 

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