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  5. Market highlights | NIFTY50 breaks above 50 DMA, eyes 25,200 for further upside

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Market highlights | NIFTY50 breaks above 50 DMA, eyes 25,200 for further upside

Upstox
By Upstox News Desk

2 min read | Updated on October 14, 2024, 23:44 IST

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SUMMARY

According to options data, there was a significant build-up of put options at the 25,000 strike for the NIFTY50 index, indicating strong support around this level. Conversely, call open interest was highest at the 25,500 strike, suggesting that the index may face resistance at this level.

Stock list

ADANIGREEN
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ADANIENSOL
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WIPRO
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HAL
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NIFTY50 breaks above 50 DMA, eyes 25,200 for further upside

NIFTY50 breaks above 50 DMA, eyes 25,200 for further upside

NIFTY50 index saw a strong upward movement on Monday, advancing 0.6%. After trading in a narrow range with a weak bias over the past few sessions, the index started the week on a positive note and formed a bullish candle on the daily chart.

Broad based buying was seen across sectors with Real-Estate (+1.6%) and IT (+1.2%) indices advancing the most. Metals (-0.2%) and Oil & Gas (-0.1%) were the only laggards.

The technical structure of the index remains range–bound as the index formed a bullish candle on the daily chart. The index is near the 25,200 resistance level, and a sustained move above this could trigger further gains toward 25,500–25,600. Immediate support is seen at 24,900.

  • Top gainer and loser in NIFTY50: Wipro (+4.2%) and ONGC (-2.0%)

  • Top gainer and loser in NIFTY Midcap 100: BSE (+7.1%) and Tata Chemicals (-7.1%)

  • Top gainer and loser in NIFTY Smallcap 100: CDSL (+7.1%) and IEX (-4.3%)

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Key highlights of the day

💰GQG Partners and the promoters of the Adani Group increased their stakes in several Adani companies during the September quarter. The promoters invested around ₹12,780 crore, while GQG Partners contributed around ₹6,625 crore, increasing their stakes in companies such as Adani Green Energy, Adani Energy Solutions and Adani Enterprises.
💻Wipro rose over 4% after the company announced that its board will consider a bonus issue of shares on October 17, 2024.
🛬Hindustan Aeronautics was in the spotlight after the company was granted 'Maharatna' status, giving it greater financial and operational autonomy.

Top traded futures contracts

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Top traded options contracts

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4 trading insights from NIFTY 200🔍

📉Open=High (Bear power): Colgate Palmolive, Indraprastha Gas, Bajaj Holdings, Irb Infrastructure and Vodafone Idea

📈Open=Low (Bull power): Mphasis, Torrent Power, Tech Mahindra, Delhivery and IPCA Laboratories

🏗️Fresh 52 week-high: BSE, Oberoi Realty, Tech Mahindra, Persistent Systems and IPCA Laboratories

⚠️Fresh 52-week-low: N/A

And that's it for today's F&O recap! Get the full scoop on market trends and curated scans at https://pro.upstox.com/

See you tomorrow!

Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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