NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 23 NOV 2023

 Benchmark indices closed higher with the Nifty above 19,800. At the close, the Sensex rose 92 points to 66,023 and the Nifty rose 28 points or 0.14% to 19,811. Approximately 1,581 stocks advanced, 1,981 stocks declined and 133 stocks remained unchanged. The top gainers on the Nifty were BPCL, Cipla, NTPC, Infosys and Power Grid Corporation, while losers included IndusInd Bank, Hindalco Industries, Kotak Mahindra Bank, Adani Enterprises and Adani Ports. On the sector front, a mixed trend was witnessed: Banks , metal and real estate each declined 0.5%, while IT, capital goods, oil and gas, energy, healthcare and FMCG rose 0.3 to 1%. The BSE Midcap index rose 0.3% while the Smallcap index rose 0.3%.With a swing on both sides, Nifty50 ended the volatile day at 19,811.85, up 28.45 points. Among the sectors, IT and Pharma recorded decent gains of over 0.60% while a corrective move expanded in the PSU banking space. The metals sector was also added to the list of underperformers. In the automotive segment, 2W Wheeler shares performed well. A mixed trend was witnessed in the broader markets with the midcap sector outperforming the frontline index while smallcaps underperformed. It seems that the Nifty is trying to break its immediate hurdle of 19,850 while a level of 19,700 will continue to act as support. A strong, convincing close above opens doors for 20,050.