Daily Analysis of Stock Market – NIFTY – 18th November 2019

On Monday, the market opens positive and stayed choppy. The market today settled flat to negative. On the closing basis the Nifty index end below 11900, Niftybank index settled below 31000 and the Sensex closed at 40284.19. Today, the Nifty index loses –11 points, Niftybank loses –16.30 points and Sensex loses –72.50 points each. YesBank, Bajajautoand Britannia among the top losers of the index.


Today, the Nifty index opened at 11915.15 went up to 11946.20 and closed at 11884.50 after making the low of 11867.60. The Niftybank index opened at 31036.80 and stayed volatile between 31203.55 to 30901.85 and closed at 30992.10. Sensex opened at 40431.08 made a high of 40542.40 low 40222 and closed at 40284.19.

As per the last view, ‘if the Nifty index holds above 11910 then it can further move up till 12000 to 12045 and if the Nifty index breaks and sustains below 11900 then again it can fall towards 11850 to 11800’ and today the index both side but not sustained above 11910 and fell till 11867.

For the next day trading, if the Nifty index breaks and hold above 11900 then it can go up to 11980 to 12000. If the Nifty index breaks 11865 then further it can fall towards 11800.


From the above chart, it can be seen that the index is trading in a range of 11800 to 12025 and facing support and resistance within the range. It also can be seen that the Nifty index opened higher but later erases all its morning gains and closed in negative. As far as moving averages concern the index is trading below 100 moving averages but staying above 200 moving averages on the hourly chart. Indicators such as MACD showing flat momentum, Stochastic RSI given positive crossover signal and RSI also suggesting positive momentum on an hourly chart. Technically, the market looks flat to range-bound. Today the Nifty index made a three small but bullish candle on the hourly chart.


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Trading zone for the Nifty index on 19th November 2019

Upside Resistance:-    11900, 11980, 12050.

Downside Support:-  11850, 11800, 11720.

Nifty 50

Advances Declines
29 20

In the Nifty 50, 29 stocks traded in green whereas the 20 were declined and one was unchanged on 18th November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
UPL 3.71 BRITANNIA -1.67
HINDALCO 3.33 M&M -1.66

The most active value wise stocks were BHARTIARTL, GLENMARK, SBIN, YESBANK , ICICIBANK, and the volume-wise were IDEA, YESBANK, RCOM, DISHTV, BHARTIARTL.