FOR THE OPTION CALL PUT TIPS WHATSAPP ON 9039542248
Indian benchmark indices ended the volatile session on November 23 at a standstill. At the close, the Sensex was down 5 points at 66017 and the Nifty was down 9 points at 19802. About 1748 stocks rose, 1407 stocks declined and 120 stocks remained unchanged. Markets were extremely lackluster due to low volumes. It looks like a lot of capital has flowed into the IPO market in the last few days and investors, including retail investors, don't want to miss the bus. Once the current IPO rush is over, we may see a return of investors to secondary markets, barring major disruptions in global markets. Nifty remained within the range but faced resistance around 19900. An ascending triangle is forming on the hourly chart, indicating a likely breakout to the upside. Sentiment is expected to remain sideways as long as it stays above 19700. However, a fall below 19850 could put downward pressure on the Nifty. Resistance at the top is established at 19900. A significant move above this level could trigger a rally towards 20000 in the short term. The Bank Nifty index maintained its sideways momentum and crucially held the support level at 43200, which is considered as a crucial point for the index. The immediate hurdle for further rise is 43800 and a break above this level is expected to lead to further gains towards 44200 where significant call writings are evident. Conversely, a break of the support level may lead to further corrective moves towards the 42800-42600 levels.
No comments:
Post a Comment