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Market Report

Tuesday, 24-Nov-2015

NSE

  • The S&P BSE Sensex ended with losses of 43.60 points, or -0.17 per cent, at 25,775.74 while the 50-stock barometer Nifty50 closed at 7,831.60, down 17.65 points, or -0.22 per cent. Maruti Suzuki and Bajaj Auto were the top losers on the BSE benchmark.

  • The domestic equity market seesawed between gains and losses amid aimless trading throughout the day. Lack of triggers, a holiday tomorrow and November series F&O expiry due on Thursday meant investors shied away from initiating fresh positions on the benchmarks. The market is also looking forward to the beginning of the winter session of Parliament starting on Thursday, which is a big trigger, as investors hope the government can build consensus to pass key legislations like the Goods and Services Tax and the Real Estate (amendment) Bill, 2013.

  • Nifty50 seeing strong support 7,820; expect volatility to rise on F&O expiry, says Mitesh Thacker. The expiry day will tend to be volatile, especially after the movements that we saw in the last hour of today. I think we will get a directional bias only if the Nifty50 drops below 7,820. On the upside, 7,900 hold the key. If either of the levels is breached, we can get some kind of a movement on the index. If that fails to happen, then I am sure that we will spend another 4-5 days in this very narrow range of about 80 to 100 points, he adds.

  • Expect Nifty50 to see November F&O expiry at around 7,850, says Sandeep Wagle. The Nifty50 may see expiry at around 7,850. I do not see 7,800 being broken. I do not see 7,900 being broken either. We would see more of stock-specific moves in the cash market. The advances to declines in the cash and F&O are showing divergence. So that is not very clear. The Nifty50 is mildly bearish if you look at it per se. But you can find strength in select stocks, he adds.

  • Our markets will remain closed tomorrow, Wednesday 25-Nov-2015, on account of 'Guru Nanak Jayanti'.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)