After suffering losses for two days, the market rebounded during the muhurat trading on November 4, with the Nifty50 closing above 17,900.
The BSE Sensex settled trade above 60,000 mark, rising 295.70 points to 60,067.62, while the Nifty50 climbed 87.60 points to 17,916.80 and formed bearish candle which resembles Doji kind pattern formation on the daily charts.
“We believe 18,050 is going to act as a strong resistance in the near future.
According to pivot charts, the key support levels for the Nifty are placed at 17,895.73, followed by 17,874.67.
The Nifty Bank rose 171.65 points to close at Rs 39,573.70 on November 4, trading in line with benchmarks.
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions.
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding.
An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions.
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
NMDC: The company has fixed prices of iron ore.