Nifty outlook 24 Nov 2023
Updated
Closing Range - 19684/19919. Extended range 1 -19598/20005, Extended range 2 -19485/20118
Nifty closed in Red with a Shooting Star candle indicating a down movement, but downside looks limited since Vix cooled by about 4.5% & we have multiple supports on the down side. Also, By the time Nifty remains within the upwards trending channel, trades on the long side can be taken with SL of the bottom of the channel.
Posible trade: Avoid taking trades till Nifty gives a clear directional sense. Positional trades will yield beter profits over intraday.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
Nifty closed in Red with a Shooting Star candle indicating a down movement, but downside looks limited since Vix cooled by about 4.5% & we have multiple supports on the down side. Also, By the time Nifty remains within the upwards trending channel, trades on the long side can be taken with SL of the bottom of the channel.
Posible trade: Avoid taking trades till Nifty gives a clear directional sense. Positional trades will yield beter profits over intraday.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
Note
As stated, the action in primary markets can keep the secondary markets low. Imagine what will happen when this money returns to the markets!! Read this - IPO's Week Came to End:
Let's see what's the rank and how much grabbed this week
1. Tata Technology - Rs. 2,13,000 cr (70x subscription of 3050 cr size)
2. IREDA - Rs. 84,000 cr (39× subscription of 2150 cr size)
3. Gandhar Oil - Rs. 33,000 cr (66× subscription of 500 cr size)
4. Flair pen - Rs. 30,000 cr (50× subscription of 600 cr size)
5. Rocking Deals - Rs. 4500 cr (220× subscription of 21 cr size)
6. Fed bank Fina - Rs. 2500 cr (2.3× subscription of 1100 cr size)
Total - Rs. 3,67,000 cr
Highest Ever weekly collection in History of Indian Markets.
Trade closed: target reached
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