Daily Analysis of Stock Market – NIFTY – 28th November 2019

Daily-Analysis-of-Nifty

On Thursday, the market opened higher and stayed positive. The market stayed volatile and settled in green on the November month expiry. On the closing bell, the Nifty index ends above 12150, Niftybank index settled at 32122.95 and the Sensex closed at 41130.17. The Nifty index gains 50.45 points, Niftybank index gains around 250 points and the Sensex gains more than 100 points.

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Today, the Nifty index opened at 12132.10 went up to 12158.80 and closed at 12151.15 after making the low of 12099.95. The Niftybank index opened at 31981.70 and stayed volatile between 32157.05 to 31905.90 and closed at 32122.95. Sensex opened at 41161.54 and made a high 41163.79 low 40996.08 and closed at 41130.17.

As per the last view, ‘if the Nifty index sustains above 12025 then the upside rally will be continued and if the Nifty index breaks below then again it can fall downside towards 11900’ and today the index opened higher and went up to 12158.80.

For the next day trading, ‘ if the Nifty index holds above 12100 then upside movement will be continued and it can go towards 12250. If the Nifty index breaks below 12100 then it can fall till 1200 to 11950.

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Daily Analysis of Stock Market – NIFTY – 28th November 2019 1

The index is trading in an upward direction and the Nifty making new highs. On the hourly chart the Nifty index making higher highs as in the chart above. From the chart above it can be seen that the Nifty index formed strong near support of 12030. The bulls are full of confidence and tighten their muscles to taking the market in their hands. Technically, the market looks strong on the bull side more upside rally expected in the coming days. On the daily chart the indicators like MACD, RSI and Stochastics are on in the positive territory.

NEWS HIGHLIGHTS

  • Reliance Industry becomes the first Indian company to hit Rupees 10 lakh crore market capital.
  • ICICI Securities settles with SEBI case of an alleged violation of stockbroker norms.
  • BSE to sell a 4% stake in CDSL through Offer For Sale mechanism.
  • Jaypee infra lenders ask NBCC to offer more land.
  • No irregularities in Indiabulls Housing Finance loans given to five companies – MCA.
  • Bank of Baroda raises Rs. 1650 cr by issuing base-III compliant bonds.
  • Govt trying to review BSNL, MTNL makes them professional.
  • Karvy Broking – Lenders may approach the SAT to access share pledged by the company.
  • ABB India gets NCLT nod for demerger of power grid business to APPSIL.
  • Nestle to train street vendors to prepare food in a hygienic manner.
  • NTPC signs MoU with Chhatisgarh govt for the medical expansion plan.

Trading zone for the Nifty index on 29th November 2019

Upside Resistance:-    12175, 12200, 12250.

Downside Support:-  12135, 12100, 12020.

Nifty 50

Advances Declines
33 16

In the Nifty 50, 33 stocks traded in green whereas the only 16 were declined and one was unchanged on 28th November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
INFRATEL  14.18 ZEEL -2.50
UPL 5.46 HEROMOTOCO -2.11
JSWSTEEL 4.17 HDFC -1.22
YESBANK 3.15 BAJAJ-AUTO -0.91
COALINDIA 2.56 HDFCBANK -0.83

The most active value wise stocks were IBULHSGFIN, ICICI BANK, ZEEL, YESBANK, SBIN and the volume-wise were IDEA, YES BANK, IBULHSGFIN, DISHTV, ZEEL.