On the weekly expiry of Thursday, the market opened higher and stayed highly volatile moved both up and downside. Today in the market bulls and bears fought the whole day, finally bulls win. On the closing bell, the Nifty index holds 11850, Niftybank index ends at 30750 and the Sensex closed at 40286. The Nifty index gains 31.65 points, Niftybank index gains more than 200 points and the Sensex gains 170 points.

Today, the Nifty index opened at 11858.75 went up to 11895.65 and closed at 11872.10 after making the low of 11802.65. The Niftybank index opened at 30615.80 and stayed volatile between 30790 to 30338.35 and closed at 30750. Sensex opened at 40178.93 made a high of 40348.61 low 40026.99 and closed at 40286.48.

As per the last view, ‘if the Nifty index sustains below 11850 then further it can fall towards 11800 to 11720 and if the Nifty index sustains above 11935 and breaks 11950 then it can move up till 12020 to 12150’ and today the index sleeps till 11802 after breaking 11850.

For the next trading day, if the Nifty index breaks above 11905 and sustains then further upside rally can be seen. If the Nifty index breaks below 11800 then again it can fall till 11720 or more.

In the above hourly chart of the index, it can be seen that it has broken an uptrend line and maintaining below this line. It also can be seen that the Nifty index falling from 12040 with a small downtrend line and trying to find out the support near 11800 to 11850. Today the index bounced from the 11800 and closed above 11850 of its near support. It seems that the market will continue its upward momentum and it will break 12000. Indicators like MACD, StochasticRSI, and RSI showing positive interest. The MACD lines crossed positively and the histogram also shifts the upper side on the hourly chart. StochasticRSI moving positive side after oversold and RSI also moving upside. Today, in the end, the bulls showed their interest and bit the bears hence the market settled in positive.

NEWS HIGHLIGHTS

  • Bharti Airtel Q2 loss widens 8-fold to Rs 23044.9 cr on exceptional loss for a license fee, SUC charges.
  • Vodafone to stay invested, CEO writes to PM Narendra Modi.
  • Moody’s cuts India’s GDP growth forecast to 5.6% for 2019.
  • Whistleblower complaint: YES Bank’s statutory auditor seeks fresh audit.
  • Govt considering a proposal to levy 18% GST on CEO, CXO salaries.
  • CBI set to file fresh charges in a $2 billion PNB bank fraud case.
  • Dr. Reddy foray into the nutrition segment; launches diabetic-friendly drinks.
  • MFs cut exposure to NBFCs, load up on corporate debt papers.
  • RBI to cut rate by 40 bps by February despite high inflation.
  • Wholesale inflation slows to 0.16% in October.

Trading zone for the Nifty index on 15th November 2019

Upside Resistance:-    11910, 11950, 12045.

Downside Support:-  11850, 11800, 11760.

Nifty 50

Advances Declines
21 28

In the Nifty 50, 21 stocks traded in green whereas the 28 were declined and 1 was unchanged on 14th November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
ICICIBANK 2.53 INFRATEL -3.94
INFY 1.98 INDUSINDBK -2.91
BAJFINANCE 1.78 ZEEL -2.72
HDFCBANK 1.39 VEDL -2.63
MARUTI 1.28 HINDALCO -2.56

The most active value wise stocks were ICICIBANK, YESBANK, SBIN, IBULHSGFIN , RELIANCE and the volume-wise were IDEA, YESBANK, DISHTV, IBULHSGFIN, SBIN.