Market Outlook for 21st November 2024
Market Outlook for 12th November 2024
Last Updated: 11th November 2024 - 06:20 pm
Nifty Prediction for 12th November
Nifty witnessed some positive momentum in the first couple of hours on Monday. However, the index gave up the gains and the market breadth turned negative, while the index ended on a flat note.
The index has been consolidating a within range since last few sessions and has not been able to surpass the hurdle of 24500. Until the index breaks this hurdle, the near term trend remains sideways to negative. FIIs continue with their net short positions with no short covering signs yet. A move above the hurdle of 24500 will lead to a positive momentum for the near term and till then, it is advisable to be stock specific and avoid aggressive trades. On the lower side, 23900-23800 is the immediate support zone.
Index continues to trade in a range with stock specific action
Nifty Bank Prediction for 12th November
The Nifty Bank index showed a relative outperformance on Monday, but it yet to surpass the hurdle of 52500-52600 which has been a hurdle. On the flipside, 51200-51000 is the immediate support for the index. Traders are advised to trade with a positive bias once the index surpasses the above mentioned resistance.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 23980 | 78960 | 51380 | 23740 |
Support 2 | 23830 | 78430 | 50900 | 23530 |
Resistance 1 | 24320 | 80060 | 52270 | 24160 |
Resistance 2 | 24500 | 80600 | 52660 | 24360 |
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