Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty snapped a three day losing streak and ended in the positive on Nov 22 aided by encouraging global cues. It closed 0.46% or 84.3 points higher at 18244.2. Smallcap index underperformed compared to the Nifty even as the advance decline ratio improved to 0.92:1. Asian stock markets mostly recouped early losses on Tuesday, supported by improved sentiment for China shares, but concerns lingered that Beijing may reimpose strict COVID curbs while European shares edged higher on Tuesday, supported by a recovery in commodity stocks including oil. Nifty recovered on Nov 22, as expected and could rise some more. The next resistance for Nifty is 18273-18308 band while 18133 could offer support on falls in the near term.