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Budget 2023
Budget 2023

Trade setup for today: Top 15 things to know before the opening bell

Based on the open interest future percentage, there were 81 stocks on the short-covering list including Indraprastha Gas, Bajaj Auto, Marico, ICICI Prudential Life Insurance, and Hindustan Unilever

December 01, 2022 / 09:21 AM IST

The market maintained its upward journey for the seventh consecutive session and ended at a fresh record closing high, not only on the benchmark indices but also on Bank Nifty on November 30, ahead of the weekly expiry. The consistent buying interest from FIIs and positive global cues supported the market.

The BSE Sensex rose 418 points to 63,100, while the Nifty50 jumped 140 points to 18,758 and formed a bullish candle on the daily charts with higher highs formation for the sixth straight session.

"A long bull candle was formed on the daily chart with a minor upper shadow. Technically, this pattern indicates a continuation of upside momentum in the market," Nagaraj Shetti, Technical Research Analyst at HDFC Securities said.

Though the Nifty is placed near the higher top of around 18,800 levels, there is no indication of a reversal pattern forming at the highs, he says.