Tuesday, November 9, 2021

NIFTY PREDICTION & OPTION CALL PUT TIPS FOR TOMORROW 10 NOV 2021

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After a positive opening on Tuesday 9 November 2021 , the domestic market traded lower as private banking stocks were under pressure following dull global markets. However, auto, PSBs and consumer durables climbed against the market trend with small and mid-cap stocks outperforming. Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data. nifty opened the day with gap up but showed a dull moment throughout the day & closed a day at 18044 with minimal loss. At Close, the Sensex was down 112 points at 60433, and the Nifty was down 24 points at 18044. M&M, Tata Motors, Hero MotoCorp, ONGC and SBI were among the major Nifty gainers. Losers included Britannia Industries, HDFC Bank, Maruti Suzuki, JSW Steel and Power Grid. Among sectors, auto and capital goods indices added 1% each, while buying is seen in the power, oil & gas, pharma names. However, metal and banking names remained under pressure.

The market witnessed some lackluster movement and an attempt to hold the level of 18025. The market suggests that sustaining above 18050 will be an important, to stay positive in the short term. If the market is able to sustain the level of 18050, it can witness a positive momentum which can lead to higher levels near 18200. The momentum indicators like RSI and MACD indicating positive momentum in the market.

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Resistance: 18050, 18100, 18150

Support: 18000, 17950, 17900

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