On Monday, the first day of the week, there has been a universal improvement in the stock market. The market breadth was positive. The Sensex rose 445 points to close at 80248 points, while the Nifty futures index rose 124 points to close at 24428 points. While the Bank Nifty future index closed at the level of 52395 points with a jump of 30 points. With the rise in Sensex, Nifty today, the market breadth became more positive as funds, retail investors, high net worth investors bought widely in small, mid cap stocks. Funds continued to buy heavily in stocks of automobile companies today. In capital goods stocks too, selective large buying by funds continued today. Oil-gas, metal-mining and IT-software services, technology stocks were among the fund's favorite buys today.
The country's GDP fell to 5.4% in the July-September quarter of the current financial year due to poor performance in the manufacturing and mining sectors and weak demand, a two-year low. Pressure to reduce rates will increase. 8.1% has been. While the GDP was 6.7% in the April-June quarter in 2024-25. Meanwhile, according to the figures released by the government, the fiscal deficit of the center has become 46.5% of the total target for the entire year in the first seven months of the current financial year. In October, 2024, the growth of the eight core sectors has declined to 3.1%. The growth of these eight core sectors was 12.7% in October last year.
Top gainers in today's trade include IndiGo, TCS, HDFC AMC, Torrent Pharma, ACC, Mahindra & Mahindra, Grasim, Lupine, Oberoi Realty, Muthoot Finance, HDFC Bank, Tata Communication, Glenmark Pharma, Tech Mahindra, HCL Technology, Infosys, Sun Pharma, Bata Stocks like India, Reliance, Adani Ports, Tata Chemicals have increased. In today's top losers list, stocks like Larsen, Hindustan Unilever, Kotak Mahindra Bank, IPCA Lab, Cipla, Aurobindo Pharma, Godrej Consumer Products have declined.
Out of total 4237 scrips traded on BSE, decliners were 1550 and advancers 2508, 179 scrips were unchanged. While in 244 stocks there was a bearish lower circuit of only sellers against a bullish upper circuit of only buyers in 509 stocks.
Nifty Future Technical Levels NIFTY FUTURE CLOSE :- ( 24428 ) :- The next move is likely to see Nifty Future touch the first of 24303 points and the crucial strong stoploss of 24180 points from 24474 points to 24530 points, 24606 points. Cautious positioning around 24180 points .
Bank Nifty Future Technical Levels Bank Nifty Future Close :- ( 52395 ) :- Next fluctuation is possible Bank Nifty future may touch 52008 points first and 51880 points very important strong stoploss trading from 52474 points to 52570 points, 52606 points cautiously around 51880 points. Create a position.
Specific technical levels regarding future stocks Godrej Properties ( 2920 ) :- The share price of this leading company of Godrej Group is currently trading around Rs.2870. Buyable with a stoploss of Rs.2833, this stock is likely to register a price of Rs.2963 to Rs.2970 in a short period of time…!! Bullish focus on Rs.2993…!! Reliance Industries ( 1318 ):- Positive breakout around Rs.1288 as per technical chart…!! Buyable from the support of Rs.1270, the stock is likely to register a price of Rs.1333 to Rs.1340.
HDFC Bank ( 1816 ) :- As per the technical chart, this pharmaceutical sector stock is likely to trade profitably around Rs.1844 with a target price of Rs.1797 to Rs.1780. Consider a trading stoploss of Rs.1850.
Sun Pharma ( 1813 ):- This stock is sellable with a stoploss of Rs.1844 registering an overbought position around Rs.1838..!! It is likely to show the price of Rs.1797 to Rs.1780 in a phased manner…!! Above Rs.1850 will look bullish.
Future direction of the market… Friends, on the global front there is a risk of rising geopolitical tensions as a result of Russia's massive missile attack on Ukraine with Hezbollah violating the cease-fire between Israel-Lebanon and hinting at the possibility of renewed war. As it is difficult to predict how this global development will take a turn before Donald Trump takes the helm in America, it is necessary to be cautious in large bullish trade. After the storm, the weekend saw a general rally in stocks. Of course, FPIs sold again in the cash segment over the weekend while local funds, local institutional investors bought new life in small, mid cap stocks. But right now it would be premature to believe that the market is fully back on the bullish track. With GDP growth numbers coming in at a two-year low and geopolitical tensions yet to fully ease, the market is likely to remain volatile as the Nifty-based vortex is likely to continue into the first fortnight of December. The rally seen over the weekend can be considered a pullback rally for now. Be defensive and selective in stocks right now with pull back rally. After the crash in November, now that December is about to begin, the Nifty and Sensex are likely to witness some upheaval in the coming days.
The author is a SEBI registered research analyst and proprietor of Investment Point.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
