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NIFTY WRAP UP & FORECASTING

November 16, 2021

The BSE sensex closed the shop at 60,322Downby 396 points and the Nifty close the day at 17,962 byloosing146 points.

On the Upside: Maruti, M&M, Tatamotors, Heromoto
On the downside-Shreecem, Reliance, Hindalco, SBIN

Tech View:-.Todays session in both major indices, BSE Sensex opened touched a high of 60,803 in opening trade and soon slipped into the negative zone. evenutally ended with a loss of 396 points at 60,322.. Where; The NSE Nifty from a high of 18,133, nifty slipped to a low of 17,959. The Nifty finally settled at 17,962, down 146 points.
Among sectors, the BSE Auto index surged 2.4 per cent to 26,892.
Nifty formed strong Bearish candle on daily chart, We may see further down till 17800 , so going forward 17800 mark will act as a major support and 18000-18100 zone will be react as resistance. RSI and MACD indicating further downfall may possible.

European & USA markets: @ IST 4:00 European markets were trading atPositivenote. Where the Germany’s DAX tradingPositiveby 0.30 %, Other hand France’s CAC40 indexrunningPositiveby 0.31% where, England’s FTSE100 indexPositiveby 0.06%.
Where; wall street @ IST 04:00The DOW future contract tradingNegative33points, S&P 500 Future trading Negative 6.25points, Where; Nasdaq100 futureNegative29.75points.

Global News Analysis:

Australia’s inflation outlook differs from many other advanced economies, the Reserve Bank said, while acknowledging that quicker consumer-price gains last quarter had altered the picture.
Europe- zone gross domestic product (GDP) rose 2.2% quarter-on-quarter in the July-September period, the European Union’s statistics office Eurostat said on Tuesday, confirming its previous flash estimate from the end of October
India attracted “record” foreign direct investments in the last seven years and the trend is expected to continue in the coming years as well on account of major structural reforms being undertaken by the government, Commerce and Industry Minister Piyush Goyal said on Tuesday.