Sensex, Nifty take breather after 3-day winning run; pharma, PSBs rally

Closing Bell on November 7, 2023: The broader markets, on the other hand, held steady gains throughout the session, settling 0.53 per cent and 0.38 per cent higher, respectively

3:58 PM

Tech View :: Check key levels for Nifty, Bank Nifty

Nifty50

The dip towards the support zone of 19,330 – 19,300, where the key hourly moving averages were placed, was bought into and the hourly momentum indicator has also triggered a positive crossover from the equilibrium line which indicates that it has started a new cycle on the upside. It is still trading around the crucial resistance zone 19,450 – 19,500 and a decisive close above it shall lead to a further rally upwards till 19,690. On the downside, 19,300 – 19,270 shall act as a crucial support zone from short term perspective.

Bank Nifty

Bank Nifty recover sharply from intraday dip and closed around the highs for the day. On the downside, 43,300 – 43,200 acted as a strong support and is now extending on the upside. it is likely to inch towards 44,000. Momentum setup is in sync with the price action and is likely to provide speed to the upmove.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:48 PM

Comment :: 'Caution prevailed at higher levels amid state elections'

The market witnessed some resistance at higher levels as caution prevails due to the start of the key state elections, and further negative global cues on account of a more than expected fall in Chinese exports, highlighting a continued slowdown in global trade.

Despite the extension of supply cuts by Saudi Arabia and Russia, crude oil prices moderated, a positive for India in the midst of geopolitical tension. This, along with the moderation in US bond yields and the positive ongoing earnings season, will support long-term returns.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:46 PM

Currency check :: Rupee ends 5 paise weaker at 83.267/$

3:45 PM

Stock of the day :: Honasa Consumer ends 4% higher on debut day

>> Issue price was Rs 324 per share

3:42 PM

SmallCap Heatmap :: Index rises 0.4%; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index gains 0.5%; check top gainers and losers

3:39 PM

Sectoral trends :: Realty, Media indices end lower; Pharma rallies

3:37 PM

Sensex Heatmap :: Bajaj Finance, RIL weigh on benchmarks

3:36 PM

Closing Bell :: Nifty holds 19,400

3:34 PM

Closing Bell :: Sensex ends sharply off lows, slips 16 pts