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

Based on the open interest future percentage, a short build-up was seen in 69 stocks, including Laurus Labs, ABB India, Shriram Transport Finance, Coal India and Dr Lal PathLabs

November 30, 2022 / 09:15 AM IST

The market on November 29 ended at a record closing high for yet another session, continuing its northward journey for the sixth straight trading day, tracking positive global cues.

The BSE Sensex rose 177 points to 62,682, while the Nifty50 closed above the 18,600 mark for the first time, climbing 55 points to 18,618 and forming a bullish candlestick pattern which resembles the Bullish Marubozu Opening kind of pattern on the daily charts, making higher high for fifth consecutive session.

"On the daily charts, the Nifty formed a Bullish Opening Marubozu candle at Life Time High levels. The Bullish Opening Marubozu candle means Open and Low of the candle are same, indicating bullish sentiments," Vidnyan Sawant, AVP - Technical Research at GEPL Capital said.

The momentum indicator RSI (relative strength index) is showing a bullish reversal, reflecting a strong momentum build-up for the shorter term.