On Friday, the market opened flat to positive and stayed highly volatile. At the weekend the market was in selling mood and hence closed in the red. On the closing basis the Nifty index holds 11900, Niftybank index settled above 31100 and the Sensex closed at 40360. Today the Nifty index loses –54 points, Niftybank loses around –240 points and the Sensex loses –215 points. Tata steel, Eichermotor, Infratel, Infy among the top market movers.

Today, the Nifty index opened at 11967.30 went up to 11968.10 and closed at 11914.40 after making the low of 11883.50. The Niftybank index opened at 31389.60 and stayed volatile between 31394.20 to 31055.20 and closed at 31111.60. Sensex opened at 40653.17 and also the high 40653.17 low 40276.83 and closed at 40359.40.

As per the last view, ‘if the Nifty index holds 11950 then it can move up towards 12150 and if the Nifty index breaks and sustains below 11950 then further it can fall till 11900 to 11850’ today the index not hold 11950 and fell till 11883.

For the next day trading, if the Nifty index holds above 11980 then again it can go up to 11970 to 12000. If the Nifty index breaks and sustains below 11880 then further it can fall towards 11850 to 11720.

The Nifty index is moving up by following an uptrend line but today broked and came down near the support of 11850. From the chart above it can be seen that today the index breaks down a small uptrend line on hourly chart. The Nifty index today has taken support at 11880 and holding it, if it will be broken then the more downside level can be seen in the coming trading session. On the hourly chart the indicators like MACD, Stochastic and RSI are showing slow but positive momentum. Technically, the market is trading in a range of 11800 to 12000. The market can give an unexpected move in the coming days, any trade should be taken cautiously.

 NEWS HIGHLIGHTS

  • RBI defaulters under the RTI Act.
  • Bharti Airtel, Vodafone Idea file review petitions of AGR judgment.
  • Grim KPMG report, pending investigations may scare off potential DHFL buyers.
  • ONGC’s depleting cash reserves hit exploration spends.
  • Oil falls from two-month high as US_China trade doubts dominate.
  • Tata Motors makes a “paradigm shift” for its dealers to beat slowdown.
  • Uber in talks with bike rental startup bounce to list two-wheelers on its app.
  • Market participants flocking to Telegram for ‘secret’ tips.
  • Appliances and consumer electronics industry expected to double.
  • Alembic Pharma gets USFDA nod for generic chronic iron overload treatment tablets.
  • Lupin launches devices to track metered-dose inhaler usage patterns in patients.
  • Reserve Bank of India sets up a three-member panel to assist DHFL administrator.
  • Investments via P-notes rise in October after registering fall for four months.

Trading zone for the Nifty index on 25th November 2019

Upside Resistance:-    11925, 12000, 12100.

Downside Support:-  11940, 11900, 11840.

Nifty 50

Advances Declines
21 29

In the Nifty 50, 21 stocks traded in green whereas the 29 were declined on 22nd November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
TATASTEEL 4.22 INFRATEL -4.07
EICHERMOT 4.08 INFY -2.85
ZEEL 3.13 TCS -2.41
NTPC 2.52 ASIANPAINT -2.18
JSWSTEEL 2.47 UPL -2.11

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