10 things that will decide D-Street action on Friday

NEW DELHI: Benchmark The equity indices ended on a high note Thursday As Sensex The record-breaking high was reached at the end of Nifty50 The latest data put the stock at a 52-week peak. Fed minutes, which indicated that the rate rise cycle might slow. The BSE Sensex It ended 762 more points at 62 273, while its wider peer was, Nifty50, was above the 18,450 mark.

Here’s How analysts interpret the market pulse

“Nifty started higher and extended gains during the day. The daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as it sustains above 18350 Going forward, 18350 may provide immediate support. On the higher end, resistance is visible at 18650, above which Nifty may move up further,” Rupak De, Senior Technical Analyst LKP Securities, said.

“After choppy movement, the buying finally emerged at highs, and the immediate resistance of 18400 has been taken out on the upside. The Nifty is expected to move above another landmark of 18606 levels (an all-time high of Oct 21) and to form new all time highs in the short term. Immediate support is at 18400.” Nagaraj Shetti, Technical Research Analyst HDFC Securities, said.

That said, here’s a look at what some key indicators are suggesting for Monday’s action:

Global Markets

European Stocks rose after the US and the dollar fell Federal Reserve Minutes of the meeting indicated a slowdown in the pace at which interest rates are raised. The pan-European Stoxx 60 rose by more than 0.4% in the afternoon, marking its third consecutive session of gains and bringing it to a higher-than 3-month high.

US markets were closed Thursday The following are the recommendations: Thanksgiving holiday.

Tech View: Nifty Forms a long bull candle

Headline Equity index Nifty Today, a bullish candle was formed on the daily charts. This suggests an attempt at a sharp upward breakout of the crucial resistance level 18,400. The In the three previous sessions, index has made lower lows than usual. Today’s upside was partly led by the winding up of short positions on the monthly derivatives expiry day.

“Now, Nifty has to hold above 18350 zones for an up move towards 18600, then 18881 zones, whereas supports are placed at 18250 and 18188 zones,” Chandan Taparia This is Motilal Oswal.

Stocks Showing bullish bias

Momentum indicator Moving Average Convergence Divergence (MACD) showed bullish trade setup on the counters of

, , , GSFC, Mastek MMTC and many other.

The MACD is a signal that indicates trend reversals within traded securities or indices. When The MACD crosses above its signal line and gives a bullish signal. This signal indicates that the security’s price may experience an upward movement.

Stocks Signals of weakness

The MACD showed bearish signals on the counters to

JBM Auto, & IndustriesHCL Tech, Hindalco Dilip BuildconAmong other things.

These counters had a bearish crossover on their MACD, which indicated that they were just beginning their downhill journey.

Most Value terms for active stocks

HDFC Bank (Rs 1,388 crore), RIL (11,111 crore).

(Rs 1,086 crore), ICICI Bank (Rs 1,013 crore), (Rs 868 crore), Infosys (Rs 853 crores) and HDFC Life (Rs 599 crore) were the most valued stocks on NSE. Higher Activity on a counter can be used to identify counters that have the highest trading turnovers during the day.

Most active stocks in volume terms
Tata Steel (Shares Traded: 2.4 Crores), ONGCShares Traded: 1.2 million), NTPCShares Traded: 1.1 million), ICICI Bank (Shares HDFC Life (Shares Traded: 1.1 million), SBI (Shares traded: 90 LakhHDFC (and ) Bank (Shares traded: 86 lakh), were among the most traded stocks during the session on NSE.

Stocks Showing buying interest

Shares SJVN

????????????????????????????????????????????????? Cera Sanitary As they reached new 52-week highs, there was strong buying interest. This signaled bullish sentiment.

Stocks seeing selling pressure

Shares This is Quess Corp,

, , Indigo Paints, Motilal OswalSIS India They were subject to strong selling pressure, and they reached their 52 week lows, signaling bearish sentiment.

Sentiment Bulls prefer meters

OverallMarket breadth was favorable to bulls with 1,935 stocks ending the day in green, and 1,570 names ending up with cuts.

(Disclaimer: RecommendationsThe opinions, suggestions, and views of the experts are entirely theirs. These These views do not reflect the views of Economic Times)

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