Nifty ended lower for the 6th straight day and a tad below its 200 DMA.

*Review & Preview @4PM —— Thursday, November 14th 2024*

*Closing Bell —— Thursday, November 14th 2024*

*Aaj Market Main Kya Hua —— Thursday, November 14th 2024*

NIFTY (-26, 23533)
Sensex (-111, 77580)
Bank Nifty (+91, 50180)

The way Nifty moved in today’s session would have put a tortoise to shame. And you could also compare the market’s range with that of a porcupine’s spines.

Yep, absolutely listless day of trading.

The Bad News: Nifty ended lower for the 6th straight day and a tad below its 200 DMA.

The Good News: Bulls mostly held the ground and most importantly, did not allow bears to overpower.

# Sentimental Overview:

Tremors continued at Dalal Street which are simply causing destruction to Nifty bulls’ confidence.

*The nasty script ideally leaves investors to worry a lot as investors fear the brutal sell-off on Dalal Street is likely to get worse.*

*Balme the pessimism on:*

1) FII exodus has crossed Rs 27,600 crore this November.

2) Also, blame the pessimism on:

a) Increased skepticism about Corporate India’s Q2 earnings disappointment.

b) Traders also brace for Maharashtra Assembly polls which will be held in a single phase on November 20. Jharkhand polls will be held in two phases on November 13 and 20th.

Counting of votes for the two states will take place on November 23.

 

# Buzzing stocks:

1) Subscriptions for NTPC Green Energy’s eagerly anticipated IPO are anticipated to open next week. Particularly in light of the successful listing of another renewable energy-related IPO, Waaree Energies, investors are eagerly anticipating this one.

The public offering of the state-owned company is expected to begin bidding on November 19, according to reports. On the other hand, the anchor investor round is scheduled for November 18.

IPO size and structure: The public offering of the NTPC subsidiary is intended to raise Rs 10,000 crore. With no offer-for-sale (OFS) component, the NTPC Green Energy IPO is anticipated to be a completely new share issuance.

# Technical Overview:

# Technically speaking, any near term rebound could be a Dead Cat Bounce!

Strictly speaking, ‘Dead Cat Bounce’ is a temporary price recovery following losses, that is followed by more losses.

Immediate downside risk on Nifty is placed at Nifty’s 200 DMA at 23556 and then at 23157 mark; aggressive downside targets are at Nifty’s psychological 23000 mark.

# Confirmation of strength only on any close above Nifty 24107.

The fear index, India VIX, which gauges the volatility in the Indian stock markets, is consolidating at 14.80 points.

# Outperforming Nifty Sectors:
Nifty MEDIA (+2.16%)
Nifty Reality (+1.14%)
Nifty Auto (+0.86%)

# Underperforming Nifty Sectors:
Nifty FMCG (-1.33%)
Nifty PSE (-0.76%)
Nifty PSU BANKS (-0.57%).

# Bulls of the day:
EICHERMOT (+6.59%)
HEROMOTOCORP (+2.06%)
GRASIM (+1.25%)
KOTAKBANK (+1.23%)
HDFCLIFE (+1.20%)

# Bears of the day:
HUL (-2.92%)
BPCL (-2.50%)
BRITANNIA (-2.47%)
TATACONSUM (-2.35%)
NESTLEIND (-2.11%)
(Source NSSEINDIA.com)

Premium Buy Premium Services

 

Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.