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Stock Market Highlights: Nifty slips below 23,540 mark, breaches 200 DEMA. How to trade tomorrow 19 nov 2024



The Nifty opened on a positive tone, but continuous selling pressure dampened sentiments, and the index settled the day on a negative note at 23,454 levels. The volatility index India VIX surged by 2.65% to 15.17, indicating a rise in market volatility.

Technical Analysis

  • Support Levels: 23,200, 23,000
  • Resistance Levels: 23,800

The Nifty 50 index is currently trading near its 200-day EMA, suggesting a potential downside risk. The RSI (Relative Strength Index) is in the oversold zone, indicating a possible short-term correction.

Investment Strategy

Key News and Developments:

  • NTPC Green Energy IPO: The IPO is set to open on November 19, 2024.
  • Bharat Global Developers: The company announced a stock split and bonus share issue.
  • Gold and Silver: Prices rebounded due to the ongoing wedding season and global cues.
  • Rupee: The rupee strengthened against the US dollar.
  • Global Markets: Global markets were mixed, with some markets rising on positive earnings reports and others declining due to economic concerns.

    • Conclusion

    The Indian stock market is currently in a state of flux, and investors should exercise caution. It is important to

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