The Indian stock market started the week on a positive note on Monday (November 17) and traded in tight ranges throughout the day. Nifty remained at the level of 26,000. Sensex and Nifty had a strong start, but later Sensex and Nifty saw a slight decline. However, buying in banking stocks helped Bank Nifty reach new highs. Initially the Sensex was up by 165 points. Meanwhile, Nifty was trading around 25,960, up 50 points. Bank Nifty was also trading around 240 points higher. The PSU Bank index was also trading firmly higher. Media, realty, consumer durables, FMCG and private bank indices also saw good gains. Almost all the indices were trading in the green.
Why is there so much momentum in the market?
– The speed is slight, not much.
– Despite many positive developments, the market growth rate is quite slow.
– The market is growing rapidly, not rapidly.
– Markets are stuck around two key levels: Nifty 26,000 and Bank Nifty 59,000.
Will they fall in the last hour and a half?
– Nifty is strong for the sixth consecutive day, Bank Nifty for the seventh consecutive day.
– Two major levels are also visible.
– Profit booking usually occurs in the last hour, after a strong day.
– In such a situation, even a little weakness is not a big deal.
– Market support is now slowly moving upwards.
Which levels are important now?
– Nifty 24800-24900, Bank Nifty 58500-58500 strong support
– Nifty 26000-26100 Mild Resistance Range
If Bank Nifty remains above 59000, it will get strength.
If Nifty closes above 26000, it will get more momentum.
– Any close above 58625 is positive for Bank Nifty
– If Nifty closes below 25750 then reduce bullish positions, Bank Nifty closes below 58125.
– There will be a gradual increase in mid-cap and small-cap also.
Which sectors will be in rotation now?
Buying trend in railway and public sector shares resumes
– Public sector shares are expected to rise further in the next 1-2 days.
Capital goods stocks also rose after Siemens’ results.
– Expectation of strength in two-wheeler shares also
stock market boom
Hero Moto:
– A good rise was seen in the shares of two-wheelers
– Told about shares in ‘Aaj Ka Hero’ this morning
Inox Wind:
– Profit booking despite good results
– Signs of profit taking at higher levels after morning results
On Nifty 50, stocks like Bajaj Auto, Shriram Finance, Apollo Hospitals, Kotak Bank, Bajaj Finance, Axis Bank and SBI registered the biggest gains. Tata Motors Passenger, Eternal, Indigo, Dr Reddy’s, Tata Steel and UltraTech Cement were among the biggest fallers. Sensex opened at 84,700, up 138 points from its previous close. Nifty opened 38 points higher at 25,948. Bank Nifty opened 179 points higher at 58,696. Meanwhile, in the currency market, the rupee opened 4 paise stronger at 88.71/dollar. Tariff relief from America, corporate updates of companies, quarterly results of many companies last week and huge fall in gold and silver prices, all these can decide the direction of the market. Initial indications show strength in GIFT Nifty, while global markets are giving mixed signals.
Tariff relief from America
Tea, coffee and spice exporters have received significant relief from the US. In the face of rising inflation, the Trump administration has significantly reduced tariffs on more than 200 food items. Exports from India are expected to increase in these categories, which may have a positive impact on FMCG and agricultural export companies.
