Market Commentary

Daily Markets Wrap - Nov 18, 2022 - HDFC Securities

Posted On : 2022-11-18 17:23:01( TIMEZONE : IST )

Daily Markets Wrap - Nov 18, 2022 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty snapped a 4 week gain on Nov 18 by posting 0.23% weekly loss. It however recovered and cut its daily loss after making an intra day low at 1455 Hrs. It closed 0.20% or 36.3 points lower at 18307.7. Cyclical sectors came under selling pressure even as there was a feeling of fatigue among traders due to subdued volatility. Broad market continued to underperform as A/D ratio remained much below 1:1. Cues from the US Fed members hinting at continued rate hikes on Thursday pricked sentiments globally. Nifty could now find support at the 18044-18103 band while 18409 could act as a resistance in the near term.

Source : Equity Bulls


DailyMarketsWrap HDFCSecurities Nifty Sensex