On November 19, BSE Sensex was down 580.09 points to close at 43,599.96, while the Nifty50 lost 166.60 points to 12,771.70, formed a bearish candle on daily chart and market closed in the red after six consecutive green session. Most selling pressure was visible in banks, finance, telecom, realty and metal stocks while some action was seen in consumer durables, power, and FMCG stocks. Power Grid, ITC, NTPC, Coal India and Tata Steel were among major gainers on the Nifty, while losers included SBI, Axis Bank, ICICI Bank, Tata Motors and JSW steel.
According to pivot charts, Pivot point for market is 12,826.82. The key support levels for the Nifty is placed at 12,690.63, followed by 12,609.57. If the index moves up, the key resistance levels to watch out for are 12,907.88 and 13,044.07.
Day High - 12,963.00 Day Low - 12,745.75 Market Close - 12,771.70
Pivot Point = (12,771.70+12,963.00+12,745.75)/3= 12,826.82
Support 1 = 2*12,826.82-12,963.00 = 12,690.63
Support 2 = 12,826.82- (12,963.00-12,745.75) = 12,609.57
Resistance 1 = 2*12,826.82-12,745.75 = 12,907.88
Resistance 2 = 12,826.82+ (12,963.00-12,745.75) = 13,044.07
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| Nifty Chart |
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| Sensex Chart |
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