Riddhi Siddhi Share Brokers: Latest After the Bell @ 4:00 PM – Wednesday, November 13, 2024
NIFTY (-324, 23559) | Sensex (-984, 77691) | Bank Nifty (-883, 50275)
Dalal Street Shaken as Nifty Bears Roar – Riddhi Siddhi Share Brokers Reports Intense Sell-Off
Today, Riddhi Siddhi Share Brokers observed significant market pressure, with profit booking pulling Nifty sharply below the 200-DMA. The downturn has intensified bearish sentiments, and investors now worry about sustained volatility on Dalal Street.
In positive news, Swiggy saw a promising IPO debut, listing at ₹420 on NSE, 7.7% above the IPO price – a standout performance amid a turbulent day.
Buzzing Stocks of the Day by Riddhi Siddhi Share Brokers:
Top Gainers:
- Britannia (+0.40%)
- Grasim (+0.35%)
- Tata Motors (+0.25%)
- Asian Paints (+0.13%)
- NTPC (+0.04%)
Top Losers:
- Hero MotoCorp (-4.21%)
- M&M (-3.47%)
- Hindalco (-3.40%)
- Tata Steel (-3.11%)
- Eicher Motors (-2.94%)
Market Indicators Overview by Riddhi Siddhi Share Brokers:
- Advance-Decline Ratio: 06–44
- India VIX: 15.43 (+5.76%) – signaling increased volatility
- Nifty PCR (14th Nov): 0.55
- Nifty PCR (28th Nov): 1.04
- Nifty MidCap 50: -2.60% (14943)
- Nifty SmallCap: -2.96% (17459)
- Bank Nifty: -1.73% (50275)
- Nifty IT: -0.56% (42370)
- USD/INR: 84.42 (-0.003%)
Trading Outlook for Thursday by Riddhi Siddhi Share Brokers
Investors are closely watching the upcoming Maharashtra and Jharkhand assembly polls, which may influence market sentiment. Technically, Riddhi Siddhi Share Brokers suggests that any rebound could signal a “Dead Cat Bounce” – a temporary price recovery followed by further losses. Immediate downside risks for Nifty are placed at the 200 DMA of 23545, with further support at the 23157 level and aggressive targets at 23000.
Key Nifty Levels:
- Current Market Price (CMP): 23559
- Support Levels: 23275/23000
- Resistance Levels: 23771/23891
- Range: 23391-23667
- 21 DMA: 24339
- 50 DMA: 24929
- 200 DMA: 23545
- Trend: Negative
Stocks to Watch by Riddhi Siddhi Share Brokers:
Bullish Stocks (Short Term):
- Coforge
- Infosys (INFY)
- Trent
Bullish Stocks (Long Term):
- Greaves Cotton
- Tejas Networks
- Wipro
Bearish Stocks:
- HDFC Bank
- Reliance
- GNFC
Stocks to Avoid:
- Hindustan Unilever (HUL)
- United Breweries (UBL)
- Tata Consumer
Disclaimer by Riddhi Siddhi Share Brokers:
The trading ideas and market insights provided are intended for educational and informational purposes only. Investment decisions should be made with professional guidance, as the stock market is inherently volatile. Riddhi Siddhi Share Brokers, a registered Authorised person of a NSE and BSE broker, reminds investors to consult with certified financial advisors before making any investment decisions.