1575809288_yq1JW0_BSE_India.jpg 
Indian equity benchmarks erased initial gains in the last hour to end half a per cent lower on Wednesday on the back of fresh selling pressure in select index heavyweights like Maruti Suzuki, Infosys, ITC and Reliance Industries.
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Going ahead, the markets are likely to continue with consolidation gave weak global cues, persistent FII selling and premium valuation.
Dear Trader,
Indian equity benchmarks erased initial gains in the last hour to end half a per cent lower on Wednesday on the back of fresh selling pressure in select index heavyweights like Maruti Suzuki, Infosys, ITC and Reliance Industries.
FII and FPIs, on Wednesday, saw a net sold of Rs 5122.65 crore in the cash segment. A total of Rs 14731.13 crore was sold against a total purchase of Rs 9608.48 crore. Domestic institutional investors saw a net purchase of Rs 3809.62 crore in the cash segment. A total of Rs 3727.99 crore was sold against a total purchase of Rs 7537.61 crore.
Going ahead, the markets are likely to continue with consolidation gave weak global cues, persistent FII selling and premium valuation. In the absence of any fresh trigger and subdued sentiments, investors would wait for the fundamentals to catch up with valuations.
The market could take direction from the US economic data and US Fed minutes which would be released later today as it fears the pace of tapering to be accelerated which could prepone the interest rate hike cycle. It would also track the Covid situation in Europe which could impact global economic activities. Monthly F&O expiry today could add to the volatility.
Index Movement- 25.11.2021
Nifty Future closed at 17408 as of 24.11.2021.
Dear Traders,
Nifty Future has resistance at 17373 – 17404 Point; above which other resistance levels are at 17434 - 17474 Point with highly Volatile Trend.
Nifty Future has Downside support levels are at 17330 – 17303 points; below 17330 points, other support levels are at 17272 – 17232 point.
I am positive for the next bullish trend only above at 17474 Point but be with the trend. Let the market decide further moves.
As we are said for many days, Buying is suggested in falls only and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now.
If Nifty Future crosses at 17,474 Point, again then the upper side target is quite high and it may touch at 17,505 Point in the short term.
Bank Nifty Future closed at 37.465 as of 24.11.2021.
Dear Traders,
Bank Nifty Future has resistance at 37404 – 37474 Point; above which other resistance levels are at 37505 – 37575 Point with highly Volatile Trend.
Bank Nifty Future has Downside support levels are at 37,303 – 37,202 points; below 37,202 points, other support levels are at 37088 – 37007 points.
I am positive for the next bullish trend only above at 37,575 Point but be with the trend. Let the market decide further moves.
As we are said for many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now.
If Bank Nifty Future crosses at 37575 points, again then the upper side target is quite high and it may touch at 37,606 points in the short term.
Trading Idea for the derivative stocks:
Torrent Pharma is at a positive Trend at Rs 2780 with a stop loss of Rs 2763 for the target near Rs 2844 - 2850 in short term.
Havells India is at a positive Trend at Rs 1317 with a stop loss of Rs1290 for the target near of Rs 1366 – 1380 in short term.
Mahanagar Gas is at a positive Trend at Rs 909 with a stop loss of Rs 898 for the target near Rs 953 – 960 in short term.
Wipro is at a positive Trend at Rs 616 with a stop loss of Rs 609 for the target near of Rs 644 – 650 in short term.
Bata India at a negative trend of Rs 2057 with a stop loss of Rs 2073 for the target near of Rs 2017 – 2002 in short term.
Adani Ent at a negative trend of Rs 1790 with a stop loss of Rs 1808 for the target near of Rs 1707 - 1690 in short term.
Voltas at a negative trend of Rs 1220 with a stop loss of Rs 1227 for the target near of Rs 1165 - 1147 in short term.
ICICI Bank at a negative trend Rs 787 with a stop loss of Rs 797 for the target near of Rs 744 – 730 in short term.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.