Mumbai, November 14, 2024: The Indian stock market witnessed a relatively flat trading session today, with the Nifty 50 index closing at 23532.70, down by -0.11% from its previous close. The index traded within a range of 23484.15 to 23675.90 throughout the day.
Table of Contents
Nifty50 Performance
The Nifty 50 futures are currently at 23608.95, with an open interest change of 2.16%, indicating a continuation of the downtrend. Stocks like HCL Technologies and Nestle India breached their 52-week highs and lows today.
FII and DII Performance
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) exhibited contrasting investment strategies in the Nifty 50. FIIs were net sellers, with a gross purchase of ₹13,003.06 crores and gross sales of ₹14,852.93 crores, resulting in a net outflow of ₹1,849.87 crores. Conversely, DIIs adopted a bullish stance, recording a gross purchase of ₹10,200.35 crores and gross sales of ₹7,718.54 crores, leading to a net inflow of ₹2,481.81 crores.
Sector Performance
The Nifty Auto Index, Nifty Bank Index, and Nifty Financial Services sector were the top gainers today, driven by stocks like Eicher Motors, Hero Motocorp, and major banking players.
Technical Analysis for Tomorrow
- Trend Analysis: Neutral/Bullish
- Support Levels: 23450, 23300, 23150
- Resistance Levels: 23750, 24000, 24250
Technical Indicators:
- RSI (14): 55.23 (Neutral)
- MACD (12, 26): 44.15 (Bullish)
- Stochastic Oscillator (14, 3): 54.28 (Neutral)
- Bollinger Bands: 23500-23800 (Narrow)
Strategy for Tomorrow:
- Buy above 23750 with a target of 24000-24250 and stop-loss at 23500.
- Sell below 23450 with a target of 23150-23300 and stop-loss at 23600.
Key Levels to Watch:
- 23650: Breakout level
- 23550: Support
- 23800: Resistance
Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please consult your financial advisor before investing/trading in the market.
