In the weekly analysis, we analyzing the whole week’s movement of the Nifty index. This week was highly volatile and event base. On the weekly closing basis the Nifty index holding above 11900, Niftybank index settled above 31100 and the Sensex closed at 40360. Week to week closing the market settled flat to positive whereas the Nifty index gains around 20 points, Niftybank index gains more than 100 points and the Sensex ends flat with gains of 2.72 points.

On a week to week basis, the Nifty index opened at 11915.15 went up to 12038.60 and closed at 11914.40 after making the low of 11867.60. Niftybank index opened at 31036.80 and stay volatile between 31471.65 to 30901.85 settled at 31111.60. Sensex opened at 40431.08 made a high of 40816.38 low 40221.97 and closed at 40359.41.

As per the last view, ‘if the Nifty index breaks and sustains above 11983 then it can further move towards 12000 and more and if the Nifty index breaks below 11800 then it can fell towards 11720 to 11650’ and the index went up to 12040 after breaking 11983 but hold 11800 and bounce back after making the low of 11867.

For next week’s trading, if the Nifty index holds above 11950 then it can move up again towards 12000 to 12100. If the Nifty index 11800 then again it can fell towards 11720.

From the above Nifty index chart, it can be seen that the index continues moving up with base support near 11600. The index rallied from 11600 to 12000 and it is resisting below 12000. The Nifty index now trading in a range of 11800 to 12050, breaking these either upside or downside will decide the next rally of the index in the coming days. In the rally of 11600 to 12000, the index has taken supports at 11090, 11490 and 11800. Technically, the market looks range bound to positive. The indicators like MACD, Stochastic and RSI are in the overbought zone on the daily chart and hence the market can give correction. If the Nifty index breaks 12040 and sustains above 12000 then it will show a new price on the chart.

Index Nifty trading zone from 25-11-2019 to 29-11-2019

Upside resistance(weekly):-  11950, 12100, 12280.

Downside support(weekly):- 11850, 11770, 11600.

CORPORATE ACTIONS

SCRIPT PURPOSE EX-DATE RECORD DATE
CAREERP Interim Dividend – Rs. – 1.0000 25 Nov 2019 26 Nov 2019
INDAG Interim Dividend – Rs. – 0.9000 25 Nov 2019 26 Nov 2019
MEERA Interim Dividend – Rs. – 1.0000 25 Nov 2019 26 Nov 2019
RAIN Interim Dividend – Rs. – 1.0000 25 Nov 2019 26 Nov 2019
SAVERA Interim Dividend – Rs. – 1.2000 25 Nov 2019 26 Nov 2019
MOIL Buy Back of Shares 26 Nov 2019 27 Nov 2019
JAMNAAUTO Interim Dividend – Rs. – 0.1800 28 Nov 2019 29 Nov 2019
RAMASIGNS Stock Split From Rs.10/- to Rs.5/- 28 Nov 2019 29 Nov 2019

NEWS HIGHLIGHT

  • Govt remains positive on NTPC, see 32-42% potential upside; govt stake sale remains overhang.
  • DHFL postpones the release of financial results; new date to announced later.
  • SBI raise Rs 3814 cr from perpetial bonds.
  • RBI expands the scope of the SNRR account to popularise rupee in cross-border transactions.
  • Care downgrades the rating on Vodafone Idea’s long term bank facilities, NCDs.
  • Yes Bank sells over 13 lakh shares of Reliance capital.
  • DHFL share price locked upper circuit amid report Adani group showing interest to acquire co.
  • CSB Bank IPO fully subscribed o day one, retail investors offer big support.
  • ZEE promoter group sells 14.28 crore of company shares.