After the Bell by Riddhi Siddhi Share Brokers – Thursday, November 14th, 2024, 4:00 PM
Market Overview:
- NIFTY: -26 pts, closed at 23,533
- Sensex: -111 pts, closed at 77,580
- Bank Nifty: +91 pts, closed at 50,180
Today’s market felt like a slow-motion race, with Nifty’s limited movement resembling the pace of a tortoise. Market volatility continued, much like the sharp spikes of a porcupine, affecting investor confidence on Dalal Street.
The Takeaway for Investors:
- Nifty finished lower for the sixth consecutive day, just below its critical 200 DMA.
- The silver lining? Bulls managed to resist a full takeover by bears.
Buzzing Stocks at Riddhi Siddhi Share Brokers
Top Gainers
- EICHERMOT: +6.59%
- HEROMOTOCORP: +2.06%
- GRASIM: +1.25%
- KOTAKBANK: +1.23%
- HDFCLIFE: +1.20%
Top Losers
- HUL: -2.92%
- BPCL: -2.50%
- BRITANNIA: -2.47%
- TATACONSUM: -2.35%
- NESTLEIND: -2.11%
Key Indices Summary
- Advance-Decline: 21–29
- INDIA VIX: 14.77 (-4.34%)
- NIFTY PCR: 0.73 (Nov 14) and 1.05 (Nov 28)
- Nifty MidCap 50: -0.64%, 15,063
- Nifty SmallCap: +0.90%, 17,615
- Bank Nifty: +0.18%, 50,180
- Nifty IT: +0.08%, 42,402
- USD/INR: +0.05%, 84.48
Riddhi Siddhi’s Outlook for Monday
With recent market dips, investors may feel the pressure as uncertainty prevails. The upcoming Maharashtra Assembly polls (Nov 20) and Jharkhand polls (Nov 13, Nov 20) are likely to add further impact on market sentiment.
Technical Insight: A temporary market rebound, known as a “Dead Cat Bounce,” may occur before further potential drops. Nifty’s immediate support sits at its 200 DMA level of 23,556, followed by 23,157, with aggressive downside levels at 23,000.
Key Levels for Nifty:
- Support: 23,275 / 23,000
- Resistance: 23,771 / 23,891
- Range: 23,391 – 23,667
- 21 DMA: 24,271
- 50 DMA: 24,895
- 200 DMA: 23,556
- Trend: Negative
Stock Trends by Riddhi Siddhi Share Brokers
Bullish for Short Term
- EICHERMOT
- PERSISTENT
- SIEMENS
Bullish for Long Term
- POLYPLEX
- TEJAS NETWORKS
- WIPRO
Bearish Stocks
- PIIND
- NESTLEIND
- BAJAJFINSV
Stocks to Avoid
- HUL
- UBL
- TATACONSUM
Disclaimer: At Riddhi Siddhi Share Brokers, we prioritize compliance and informed decision-making. Our market insights are provided solely for educational and informational purposes and should not be construed as financial advice. For personalized advice, consult your financial advisor. Remember, investments in stock markets carry risks. Riddhi Siddhi Share Brokers takes no responsibility for any individual’s trading decisions.