Nifty wobbles as bullish momentum fades….

*Review & Preview @4PM —— Monday, November 25th 2024*

NIFTY (-27, 24195)
Sensex (-106, 80004)
Bank Nifty (-16, 52192)

Nifty wobbles as bullish momentum on backdrop of BJP’s stunning election performance in Maharashtra fades.

Blame it on Trump Tariff Threat…

US President-elect Donald Trump has doubled down on his threats to raise tariffs, particularly on China, Mexico and Canada, fueling concerns over global trade tensions.

The boost from the nomination of Scott Bessent as US Treasury Secretary also seen fading.

# *Sentimental Overview:*

The negative takeaway from today’s trade was that the stock prices of Adani group weakened after ratings agency Fitch places some of Adani bonds on negative watch after U.S. bribery charges.

 Adani Enterprises (-4.65%)
 Adani Green (-7.41%)
 ATGL (-3.47%)
 ADANI PORTS (-3.14%)
 AWL (-2.45%)

Also, sentiments were dented after a downward revision in India’s GDP forecast by credit ratings agency S&P Global to 6.7% in FY26 from the earlier estimate of 6.9%.

We will now spy with one big eye if the FIIs camp who have sold to the tune of Rs. 30999 crores this November look to cover their shorts?

# Technical Overview:

As Nifty consolidates and wavers in today’s trade, all eyes will be on FIIs todays data after FII exodus has crossed Rs 30,999 crore this November.

Technically speaking, Nifty and Sensex are still at oversold conditions with immediate upside hurdles seen 24515 and then at psychological 25000 mark wile Nifty’s support placed at 23921 mark.

Nifty’s 200 DMA at 23618 mark

# Outperforming Nifty Sectors:
Nifty IT (+0.96%)
Nifty FMCG (+0.86%)
Nifty Media (+0.80%)
Nifty Metal (+0.29%)
Nifty PSU BANKS (+0.12%)

# Bulls of the day:
SHRIRAMFIN (+3.26%)
BRITANNIA (+2.20%)
ASIANPAINTS (+1.87%)
BEL (+1.86%)
INFY (+1.61%)

# Bears of the day:
ADANIENT (-4.02%)
ADANIPORTS (-3.03%)
ULTRACEMCO (-3.03%)
BAJAJ AUTO (-2.87%)
SUNPHARMA (-1.98%)
(Source NSSEINDIA.com)

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