Market News
3 min read | Updated on April 04, 2024, 18:24 IST
SUMMARY
It is important to note that the NIFTY50 formed a hanging man candlestick pattern on the daily chart ahead of the RBI policy announcement. The hanging man signals a potential reversal after an uptrend. However, for the pattern to be confirmed, the price of the next candle needs to close below the bearish reversal pattern.
Stock list
NIFTY50 closes at record high, Banks and IT stocks shine ahead of the RBI policy
Markets closed at the record high levels today amid high volatility on the day of the weekly expiry of NIFTY50 options contracts. The NIFTY50 index gained 0.3% and ended the session at 22,514, while the SENSEX rose 0.4% and ended the day at 74,227.
Top gainer and loser in NIFTY50: HDFC Bank (+3.1%) and ONGC (-2.1%)
Broader markets closed higher today. The NIFTY Midcap 100 index reached a fresh all-time high, but closed flat. The NIFTY Smallcap 100 index also gained, advancing 0.4%.
Top gainer and loser in NIFTY Midcap 100: Bandhan Bank (+4.2%) and Mahindra and Mahindra Financial (-0.1%)
Top gainer and loser in NIFTY Smallcap 100: Ujjivan Financial Services (+6.5%) and Praj Industries (-0.1%)
Despite a positive start, the NIFTY50 index gave up all initial gains and faced selling pressure around 22,500-mark. However, it recovered most of its losses from the support zone (22,300-22,350) and closed higher.
See you tomorrow!
About The Author
Next Story