Market Commentary

Daily Markets Wrap - Nov 30, 2023 - HDFC Securities

Posted On : 2023-11-30 18:35:10( TIMEZONE : IST )

Daily Markets Wrap - Nov 30, 2023 - HDFC Securities

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

Nifty recovered post 1415 Hrs on Nov 30 to end with a minor gain. At close, Nifty was up 0.18% or 36.6 points at 20133.2. Volumes on the NSE were at all time high aided by MSCI rebalancing volumes and new listing trades. Broad market indices rose more than the Nifty even as the advance decline ratio was almost even at 1.06:1.

Asian stocks mostly rose on Thursday to clock their strongest performance in 10 months, as investor sentiment warmed on a relatively benign global interest rates outlook and signs of economic recovery. China's disappointing economic data led to losses in China/Hongkong markets. European stocks rose mildly.

Nifty rose mildly on Nov 30 forming a bearish Hanging man pattern after a rise. Based on the triggers late on Nov 30, markets could either validate the bearish view and open down or open above the previous high of 20222 invalidating the bearish signal. On falls, 19916 could be the first support.

Source : Equity Bulls


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