Rally Difficult: Reliance, HDFC Bank Pressure Nifty; Market Strategy Revealed

• Reliance Industries and HDFC Bank are exerting significant pressure on the Nifty, hindering a broader market rally.
• Despite market pressure from these two giants, FII data shows only minor net selling, and gross volumes are normalizing.
• Nifty technically made a lower low and lower high, hitting its trailing stop-loss, while Bank Nifty's uptrend remains intact.
• Market eyes Q3 updates from Titan, Lodha Group, and Jubilant FoodWorks; crude oil below $60 could be a major positive.
• Strategy advises long Bank Nifty and Nifty puts for hedging; focus on select largecaps, PSU banks, and OMC stocks.

Why It Matters: Nifty's rally hinges on stabilization of Reliance and HDFC Bank amidst mixed market signals.