HomeNewsVideosBusinessMarketsNifty Set To End November F&O Series Above 20,000| Tata Technologies Poised For Bumper Debut?

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Nifty Set To End November F&O Series Above 20,000| Tata Technologies Poised For Bumper Debut?

since September. Hence, given the index traded well above all key moving averages and positive trend in the momentum indicator RSI (relative strength index) & MACD (moving average convergence divergence) on daily, weekly and monthly timeframes, the Nifty50 may start surpassing its previous record high (20,222.45) in coming days, with support at 20,000-19,800 levels, experts said. Now bulls seem to be back in full action on November 29, a day before the expiry of November futures & options contracts, and exit polls of five States elections. The trading volumes on the Nifty50 also remained strong in last two consecutive sessions, which is another positive sign, though the breadth needs to be strong for further upmove. The BSE Sensex jumped 728 points or 1.1 percent to 66,902, while the Nifty50 rallied 207 points or 1.04 percent to 20,097. However, the India VIX advanced for third consecutive session, rising 4.4 percent to 12.7 levels and closed above 200-day EMA (exponential moving average) for first time in last 10 months. This morning global cues are mixed with GIFT Nifty hinting at a muted start. Watch for India Q2 GDP data and exit poll predictions for the assembly elections. Also among stocks in focus today, we put the spotlight on Thomas Cook, IDBI Bank and Lemon Tree among others. Tata Technologies lists on the bourses today along with two other stocks - Gandhar Oil & Fedbank Financial. Catch Nandita Khemka in conversation with Deepak Jasani, Head-Retail Research, HDFC Securities and Ajit Mishra--SVP, Technical Research, Religare Broking.

Moneycontrol News

November 30, 2023 / 08:43 IST

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first published: Nov 30, 2023 08:43 am

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