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Latest Articles in Stock Market Daily Updates

Stock Market Daily Updates: 26 Nov 2020

Traders should avoid going contra as it is still a buy-on-dips market. The levels of 12808 and 12777 should act as major support for the Nifty index. However, the trade could remain volatile on November 26 amid November F&O expiry. Now, Nifty has to hold above 12888-12909 levels to witness a bounce towards 12933 then 12970 levels, while a hold below the same could see weakness towards 12808 then 12777 levels.

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Stock Market Daily Updates: 24 Nov 2020

The short-term trend continues to be profit booking on every rise and the next range to be watched out for is around 12888 to 13003 points and this can be achieved in the short term. Technically, we feel that the Nifty needs to cross the level of 13003 points, the immediate support for the Nifty future are placed around 12888 and 12808 points whereas resistance is seen around 13003 -13033 points.

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Nifty Index Breaches 12808, It Can Slip To 12770 To 12707

Traders can retain a positive stance as long as the Nifty future sustains above 12808 and the index's strength will be confirmed on a close above 13003 levels, in such a scenario, the upswing may initially get extended towards 13130 levels. On the downside, if the Nifty index breaches 12808, then it can slip to the 12770 to 12707 levels. Broadly, the trend remains up but a consolidation or minor correction from current level cannot be ruled out. Hence, trader should adopt buy on decline strategy.

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Stock Market Daily Updates: 20 Nov 2020

In the coming sessions, unless Nifty future trades above 12808 levels the trajectory of the market shall remain sideways with negative bias but a close below 12707 levels can be a harbinger of a fresh leg of short-term downswing which if materializes shall initially drag down the index towards 12636 levels. Contrary to this a fresh upsurge with a close above 12808 levels can extend the rally towards 12888 - 12909 levels.

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Stock Market Daily Updates: 19 Nov 2020

The upside rally could be testing all the way up to whole new levels in the upcoming trading zone as far as levels are concerned, immediate resistance is placed around 13003 - 13013 levels, Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish mode whereas support is placed around 12909 and 12888 levels. Key strong support holds near 12808 levels.

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Stock Market Daily Updates: 18 Nov 2020

Traders are advised to wait and watch for the stability to understand the intraday trend in the Nifty where 12909 will be an immediate hurdle while 13003 will be a psychological mark. On the downside, 12830-12818 will be the immediate support zone while 12808 levels will be a major support.

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Stock Market Daily Updates: 13 Nov 2020

In the next, unless Nifty trades above 12808 levels the trajectory of the market shall remain sideways with negative bias but a close below 12606 levels can be a harbinger of a fresh leg of short-term downswing which if materializes shall initially drag down the index towards 12575 levels. Contrary to this a fresh upsurge with a close above 12808 levels can extend the rally towards 13003 levels.

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Stock Market Daily Updates: 12 Nov 2020

As the market has already witnessed a sharp run-up and valuations appear to be quite stretched at the current level, profit-booking at these levels cannot be ruled out and therefore traders should be cautious at these levels. Now, the Nifty future has to continue to hold above 12676 levels to witness an up move towards 12808-12888 levels while on the downside major support exists at 12606 levels.

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Stock Market Daily Updates: 11 Nov 2020

The market is expected to continue on bullish momentum based on current price action, once the same break above the current resistance level holding near 12808. The upside rally could be testing all the way up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level of 12808, then it might retest the same and revise the trend to bearish mode. Key support holds near 12606-12575.

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Stock Market Daily Updates: 10 Nov 2020

The upside rally could be testing all the way up to 12606-12808 levels in the short term. Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish mode. Key support holds near 12272 levels. A slide to 12232-12202 is also a possibility if the price makes or break below the current support level.

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Stock Market Daily Updates: 9 Nov 2020

The way the benchmark indices have surged of late, it seems that participants have already priced in the possibility of a clear winner in the US elections. Considering the scenario, we suggest maintaining a positive yet cautious approach and continuing with the stock-specific trading approach. Also, keep a close watch on global markets and earnings announcements for cues.

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Stock Market: Take Stock Specific Trading Approach

Considering the scenario, we suggest maintaining a positive yet cautious approach and continuing with the stock-specific trading approach. Also, keep a close watch on global markets and earnings announcements for cues.

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Stock Market Daily Updates: 6 Nov 2020

The next important key resistances are placed at 12202 levels, which could offer for the market on the higher side. Sustainability above this zone would signal open the door for a directional up move with immediate resistances seen at 12233 -12272 levels. Immediate support is placed at 12088 - 12008 levels

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Stock Market Daily Updates: 5 Nov 2020

The expected profit booking is unlikely to change the positive status of the short-term trend, as we could see an emergence of buying from the lows of 11808 levels.

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Stock Market Daily Updates: 4 Nov 2020

The Nifty future was no exception, signing off the session with a decent bullish candle, the immediate supports for the Nifty future are placed around 11777 and 11707 whereas resistances are seen around 11909 and 11933 levels.

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