Stock market despite late-hour selling, the market sustains a two-day positive trend driven by a rally in IT and pharma sectors.
Stock Market Nifty Chart Prediction.
Despite opening lower amid mixed global cues, Indian benchmark indices closed in positive territory for the second consecutive session on November 16, experiencing volatility throughout the day; gains were driven by buying in information technology, oil & gas, auto, and pharma sectors, but last-hour selling limited the overall upward momentum, with the Sensex up 0.47 percent at 65,982.48, and the Nifty up 0.46 percent at 19,765.20.
Prediction For Friday NIFTY can go up if it goes above 19800 or go down after the level of 19700 but all depend upon the Global cues.
There are good chances of market to remain flat as today market opened slight down and then it was in range but after sometime it started going up it goes to the level of 19850 and after that there was selling presser and closed near level of 19750.If it goes beyond any level given above it will give a one side move on any side up or down. If Nifty gives flat opening, it may move to the level of 19850 or 19650 But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19600 (1.0 crores) |
| Highest Put Writing at | 19400 (82.6 lakhs) |
Nifty Support and Resistance
| Support | 19700,19650 |
| Resistance | 19800,19850 |
Bank Nifty Daily Chart Prediction
Prediction For Friday Bank NIFTY can go up if it goes above 44400 or go down after the level of 44000 but all depend upon the Global cues.
Today, BANK NIFTY opened flat in morning but after that it started going up slowly but 44400 was a major resistance . From that level it started coming down. Today bank nifty has closed in red and closed near its critical level of 44150 which has made bank nifty strong again For Friday. you can go with the strategy of buy on dip.
| Highest Call Writing at | 43800 (49.9 Lakhs) |
| Highest Put Writing at | 43800 (35.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 44150,44000 |
| Resistance | 44400,44500 |
Also, check our Article on Spinning Top Candlestick Pattern
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