Nifty 50 Index

Nifty Prediction for 27th November 2024

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Nifty Prediction for 27th November
The Nifty 50 experienced range-bound momentum after a positive opening in Tuesday's session. Initially, it surged to a high of around 22,350 in the opening session but later traded within a narrow range and ended below the previous close of 24,221.90. Despite the narrow momentum, the Nifty IT sector showed strong gains, reaching a fresh record high, driven by robust performances from major players like TCS, Infosys, and Tech Mahindra.

Technically, the Nifty faced resistance around the 50-day Exponential Moving Average at 24,350 and subsequently turned lower. However, the RSI and MACD are witnessing positive crossovers on the daily chart. Overall, market breadth is positive, indicating a favorable environment for investors.

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