On November 17, BSE Sensex was up 314.73 points to close at 43,952.71, while the Nifty50 gained 93.95 points to 12,874.20, formed a small body bearish candle on daily chart and market closed in the green for the fifth consecutive day. Most action was seen in industrials, metals, capital goods, banks, and realty stocks. The top gainers on the Nifty included Tata Motors, Tata Steel, HDFC life, SBI, Adaniports and top losers are BPCL, Hero Motor, NTPC, IOC and ONGC.
According to pivot charts, Pivot point for market is 12,868.45. The key support levels for the Nifty is placed at 12,802.85, followed by 12,731.50. If the index moves up, the key resistance levels to watch out for are 12,939.80 and 13,005.40.
Day High - 12,934.05 Day Low - 12,797.10 Market Close - 12,874.20
Pivot Point = (12,874.20+12,934.05+12,797.10)/3 = 12,868.45
Support 1 = 2*12,868.45-12,934.05 = 12,802.85
Support 2 = 12,868.45- (12,934.05-12,797.10) = 12,731.50
Resistance 1 = 2*12,868.45-12,797.10 = 12,939.80
Resistance 2 = 12,868.45+ (12,934.05-12,797.10) = 13,005.40
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Nifty Chart |
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Sensex Chart |
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