Sensex Today: Stock Market Highlights: Nifty forms bearish candle. What traders


Nifty today formed a small negative candle on the daily charts, signalling that bulls are finding it tough to hold higher levels. Now, it has to hold above 18,200 zones, for an up move towards 18,350 then 18,442 zones whereas supports are placed at 18,088 and 17,950 zones, said Chandan Taparia of Motilal Oswal.

Option data suggests a broader trading range in between 18,000 and 18,600 zones while an immediate trading range in between 18,100 and 18,400 zones.

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US stocks open lower ahead of Fed minutes, Apple falls

The Dow Jones Industrial Average fell 6.5 points, or 0.02%, at the open to 34091.57. The S&P 500 fell 3.3 points, or 0.08%, at the open to 4000.3, while the Nasdaq Composite dropped 0.2 points to 11174.612 at the opening bell.

Nifty forms bearish candle.What traders should do on Thursday

Option data suggests a broader trading range in between 18,000 and 18,600 zones while an immediate trading range in between 18,100 and 18,400 zones.

The bears continued to hold their grip and the index saw selling pressure around the resistance zone of 18,300-18,350. The options data indicates a hurdle at 18,300 where the highest open interest is built up a day before the monthly expiry. The index lower-end support is visible at 18,200-18,150 which will act as a cushion for the bulls. The bulls need to cross the level of 18,350 decisively to continue the momentum on the upside toward the 18500 level.

– Kunal Shah, Senior Technical Analyst at LKP Securities

Markets ended almost unchanged amid volatility, in continuation to the prevailing consolidation phase. The Nifty index opened with an uptick but it couldn’t hold the gains for long and oscillated in a range thereafter. It finally settled at 18,267.25; up by 0.13%. Meanwhile, mixed performance from the sectoral front kept the participants busy till the end.Markets have been maintaining a positive tone amid the consolidation bias, thanks to rotational buying in index majors, especially from the banking pack. However, subdued participation from the broader front is still weighing on sentiment. Considering the scenario, we feel it’s prudent to limit positions and focus on sectors/stocks which are showing higher relative strength. Also, maintain strict risk management rules in place citing the possibility of a rise in volatility due to scheduled F&O expiry.

– Mr. Ajit Mishra, VP – Technical Research, Religare Broking

Domestic equities were in positive territory throughout the session in line with its global peers. Nifty opened higher but last hour selling dragged the index down to close with marginal gains of just 9 points at 18253 level. Sectorally it was mixed bag. PSU Banks, Defense, Fertilizer stocks were in action. Most of the fertilizer stocks rallied after India’s import from Russia surged by 371% in 6 months of FY23. On the primary market front, Inox green energy listed today at a discount of 7%, while Dharmaj Crop Guard would open for subscription on 28th Nov’22. Last year’s listed companies like Tarsons products, Venus pipes, Ethos and Go fashions might face some selling pressure as their pre-ipo lock-in period expires in the next 2-3 days. Globally, Investors would keenly wait for Fed’s minutes that is due to be release on Thursday which will set tone for US Federal Reserve’s meeting in December. US market will remain closed on Thursday and remain open for only half day on Friday due to Thanksgiving. Thus, expect global bourses to remain lacklustre. Back home, domestic markets might see some action on back of F&O monthly expiry and macro data to be released globally.

– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Rupee falls 19 paise to close at 81.86 (provisional) against US dollar

Check out the top 5 Nifty gainers & losers

Check out the top 5 Nifty gainers & losers

Following the global trend, domestic indices continued to cautiously build gains as investors braced for the FOMC meeting minutes. The declining dollar index and falling bond yield provided short-term relief, while the FIIs’ unpredictability kept investors at bay. Although the Eurozone PMI showed that the economy was still contracting, the rate of contraction had slowed

– Vinod Nair, Head of Research at Geojit Financial Services

​Closing Bell: Financials push Sensex 92 points higher, Nifty below 18,300; Fino Payments Bank zooms 20%, Adani Ent drops 3%

​Closing Bell: Financials push Sensex 92 points higher, Nifty below 18,300; Fino Payments Bank zooms 20%, Adani Ent drops 3%

Top gainers & losers from tourism & hospitality space

Price as on 23 Nov, 2022 03:20 PM, Click on company names for their live prices.

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Expect Nifty to reach 20,500 by 2023: Goldman…



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