Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets continued yesterday’s positive momentum and opened with marginal gains on Wednesday.
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“Markets witnessing fresh buying along with improvement in market breadth.
Star Health and Allied Insurance company is owned by a consortium of investors including Safecrop Investments India LLP, WestBridge AIF I, and big bull Rakesh Jhunjhunwala.
Yesterday’s bounce back having stalled near 17500 on anticipated lines, we will look for a push above 17550 region to seek bullish confirmation, in which case 18000 could be aimed for.
“We expect volatility to remain elevated for few sessions wherein dips in Nifty towards 17100-16900 zone would attract buying demand and higher base being formed,” said ICICI Direct.
On November 23, 2021, Foreign institutional investors done net selling of worth Rs 4,477.06 crore, while domestic institutional investors did net buying of worth Rs 1,412.05 crore in the Indian equity market.On the technical front, the key resistance levels for Nifty50 are 17650 followed by 17,750 and on the downside 17,300 followed by 17,100 can act as strong support.
“In the coming session, Nifty is likely to open on a positive note tracking firm global cues.
“We may see a positive start today but follow up buying along with good market breadth is a must for it to confirm a reversal.
The benchmark indices witnessed a sharp recovery rally, after a volatile trading session the Nifty ends 68 points higher while the Sensex was up by 141 points.
Overall the trend in Nifty is weak and traders are suggested to exit long positions either on rallies or with strict stop-loss.
He added that until said levels are crossed, markets are sensitive to price and volume and a little shift in the sentiment can result in a downward spiral which can take the index to 16900-17000.
Having said that the correction which we have seen in Nifty and Sensex is of a lower magnitude when compared with the base levels during the past.