Streetgains

STREETGAINS MARKETSVIEW 13DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-13december2024

STREETGAINS MARKETSVIEW 12DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-12december2024

STREETGAINS MARKETSVIEW 11DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-11december2024

STREETGAINS MARKETSVIEW 010DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-010december2024

STREETGAINS MARKETSVIEW 09DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-09december2024

The Nifty 50 consolidated on December 6, ending moderately lower as the market appeared to have factored in the RBI's recent decisions. The index had surged nearly 1,000 points over five consecutive sessions prior. The RBI reduced the cash reserve ratio by 50 bps to 4%, while revising the inflation outlook higher and cutting growth forecasts for FY25. The Nifty opened at 24,729 and traded within a narrow range of 24,751–24,620 before closing at 24,678, down 31 points. A small bearish candlestick formed on the daily chart, though the weekly chart displayed a strong green candle, with the index continuing its higher highs and higher lows pattern for the second week. Key levels to watch include support at 24,500 and 24,300, while resistance lies between 24,900 and 25,050.


The Bank Nifty saw minor profit booking after five consecutive days of gains, slipping 94 points to close at 53,510. It formed a High Wave-like candlestick pattern on the daily chart, signaling volatility. While some profit booking is possible, the broader trend remains positive, supported by a strong bullish candlestick pattern on the weekly chart. For the week, the banking index surged 2.8%, its highest weekly gain since September. In the short term, the index could aim for 54,000–54,500 on the upside.

MARKET VIEW https://streetgains.in/StreetView/market-view

STREETGAINS MARKETSVIEW 06DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-06december2024

STREETGAINS MARKETSVIEW 05DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-05december2024

STREETGAINS MARKETSVIEW 04DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-04december2024

STREETGAINS MARKETSVIEW 03DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-03december2024

STREETGAINS MARKETSVIEW 02DECEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-02december2024

The Nifty 50 surged nearly 1% on November 29, starting the December series on a bullish note after rebounding from the 23,900-support level. The index filled the bullish gap from November 25 and closed at 24,131, up 217 points. Key resistance lies at 24,350, with a potential rally toward 25,000 if breached.
The session formed bullish candlestick pattern, signaling strong upward momentum. The index also climbed above its 10- and 20-day EMAs further affirming positivity. Immediate support stands at 23,925.


The Bank Nifty closed higher by 149 points at 52,056 but underperformed amid volatility. A small-bodied bullish candle with a long lower shadow formed on the daily chart, while a Doji pattern appeared on the weekly chart, signaling indecision.
The index must stay above 52,000 to aim for 52,500 and 52,750. Failure to hold this level could lead to weakness, with support at 51,750 and 51,500.

MARKET VIEW https://streetgains.in/StreetView/market-view

STREETGAINS MARKETSVIEW 29NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-29november2024

STREETGAINS MARKETSVIEW 28NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-28november2024

STREETGAINS MARKETSVIEW 27NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-27november2024

STREETGAINS MARKETSVIEW 26NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-26november2024

STREETGAINS MARKETSVIEW 25NOVEMBER2024 https://streetgains.in/StreetView/streetgains-marketsview-25november2024

The Nifty 50 rebounded sharply on November 22, gaining 2.39% to close at 23,907, marking its strongest single-day rally. The index opened higher at 23,412, remained in positive territory throughout the session, and hit an intraday high of 23,956. Strong buying across sectors helped Nifty break above the critical 10-day EMA at 23,765, forming a bullish candlestick pattern. If the index sustains above 23,800, it could test 24,000 (20-day EMA), with the next target at 24,500. On the downside, key supports lie at 23,750 (200-day EMA) and 23,550. Weekly charts also reflect a bullish pattern with a long lower shadow, indicating buying interest at lower levels. Immediate resistance is seen at 23,960–24,000; a decisive breakout above this could drive further gains.


The Bank Nifty closed above 51,000 on November 22, gaining 763 points or 1.5% to settle at 51,135 and is now approaching the 20-day and 100-day EMAs near 51,150. A long bullish candlestick with a higher high-higher low formation indicates strong momentum. Breaking the resistance at 50,984 and sustaining above it, the index has set the stage for further upside. If Bank Nifty holds above 50,980, it could rally toward 51,500–52,000 in the near term. For the week, the index gained 1.9% and formed a green candle on the weekly chart, signaling sustained positivity. A buy-on-dips strategy is recommended for short-term opportunities.