Global Market Overview
- GIFT Nifty: Opened at 23,523.50 (-48.00, -0.20%)
- U.S. Markets: Dow Jones down 0.70%, Nasdaq down 2.24%
- Asian Markets: Generally declining due to reduced expectations for U.S. rate cuts.
Technical Analysis
Nifty 50:
- Closed lower (23,542), experiencing a bearish trend with lower highs/lows.
- Indicators like MACD and RSI also reflect bearish sentiment.
Bank Nifty:
- Formed an Inverted Hammer pattern indicating potential bullish reversal.
- Despite some strength, still below key moving averages.
Open Interest Trends
- Nifty: Maximum call writing at 23,800; maximum put writing at 23,300.
- Bank Nifty: Maximum call writing at 50,465; maximum put writing at 49,989.
Market News
- Disappointing earnings reports leading to negative sentiment in Indian indices.
- Crude oil prices are falling amid supply concerns, while gold prices rebounded.
Key Stocks to Monitor
- Bearish: Indraprastha Gas, Adani Total Gas due to gas allocation cuts affecting profitability.
- Bullish: Reliance Industries (joint venture with Disney), GAIL (LNG agreement), Hindustan Zinc (gold mining license acquisition).
FII/DII Activity
- FIIs were net sellers (-₹2,503 Cr); DIIs were buyers (+₹6,145 Cr) in the cash segment on November 13.
Sentiment Indicators
- The Put-Call Ratio indicates bearish sentiment as it hovers under 1.
Note: Keep an eye on sector performances and overall market developments as global economic indicators evolve.
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