Nifty bounces back hard; claws back all of yesterday’s losses.
NIFTY (+143, 26053)
Sensex (+513, 85186)
Bank Nifty (+317, 59216)
Nifty reclaimed 26000 mark with ease as bulls now seem completely back in the game.
IT Index was the biggest sectoral gainer, thanks to robust buying in INFY shares amidst share buyback buzz.
Adv-Dec 32—17
INDIA VIX 11.97 (-1.07%)
NIFTY PCR (25th NOV) 1.29
USD/INR Futures (NOV) (-0.02%, 88.60)
SECTOR GAINERS:
NIFTY IT (+2.97%)
NIFTY PSUBANKS (+1.16%)
NIFTY HEALTHCARE (+0.48%)
SECTORS LOSERS
NIFTY OIL & GAS (-0.35%)
NIFTY REALTY (-0.35%)
NIFTY MEDIA (-0.27%)
TODAY’S MARKET RE-CAP:
1) Nifty (+0.55%) rebounded sharply higher as bulls regrouped at lower levels. The positive takeaway was that Nifty comfortably closed above the 26000 mark.
Nifty is above its 21 DMA (25820), 50 DMA (25400) and its 100 DMA (25182). Nifty’s 200 DMA at 24486 mark.
2) Bank Nifty (+0.54%) did pretty well as bullish consolidation was the preferred theme all thru the trading session and most importantly, Bank Nifty ended in green and scaled a new all-time-high still seen at 59264.25 mark.
3) The market breadth (31:18) was in favour of the Bulls.
4) Nifty Mid-cap (+0.19%) gained while Nifty Small-cap (-0.53%) ended lower.
STOCKS IN SPOTLIGHT:
1) Infosys (+3.74%) soars as Rs 18,000 crore buyback window opens Thursday, November 20th.
2) State-owned NBCC (India) Ltd has sold 609 housing units in Greater Noida (West) for ₹1,070 crore through an e-auction.
In a regulatory filing on Wednesday, the company informed that it has sold 609 residential units in two projects ‘Aspire leisure valley’ and Aspire Centurian Park through an e-auction at total sale value of ₹1,069.43 crore.
BULLS OF THE DAY:
MAXHEALTH (+4.30%)
HCLTECH (+4.19%)
INFY (+3.74%)
WIPRO (+2.14%)
TCS (+1.94%)
BEARS OF THE DAY:
TMPV (-2.77%)
COALINDIA (-1.21%)
MARUTI (-1.19%)
BAJFINANCE (-0.77%)
ADANIPORTS (-0.74%)
OUR VIEW FOR THURSDAY’S TRADE
Technically speaking, 26277 is now Nifty’s immediate hurdle.
Bottom-line: On the flip side, 25740 is key support. The gyan mantra is to stay bullish as long as Nifty 25740 support is held.
ALL ABOUT NIFTY:
Nifty (CMP: 26055)
Support: 25740/25500
Resistance: 26277/26500
Range: 25899-26198
21 DMA: 25820
50 DMA: 25400
200 DMA: 24486
Trend: Positive
BULLISH LOOKING STOCKS:
PNB
TATAMOTORS
SBIN
BULLISH LOOKING STOCKS (LONG TERM):
SYRMA TECHNOLOGIES
HBL ENGINEERING
GRSE
BEARISH LOOKING STOCKS:
ADANIENSOL
APLAPOLLO
HAL
STOCKS TO AVOID:
BHARATFORGE
INDIGO
CONCOR
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