SHARE MARKET COMMENTARY AS ON 28TH NOV

Barring last couple of hours, the entire day’s activity was quite lackluster as the index remained in a small range for major part of the day. Tuesday market was quite similar to Monday market as market had given gap down opening then market is in consolidate phase till opening of European market and then the only difference come between two days is that in last couple of hours market was in bullish trend on Monday and on Tuesday market was in down trend. As we suggested market is moving in a particular channel and on Tuesday market tested its channel resistance level and then corrected from there which resulted sensex closed with a loss of 105.85 points at 33618.59 and Nifty future closed with a loss 44.85 points of 9.15 at 10373.65.

Major Looses were seen in Pharma and Reality sector both indices down by 0.54% and 0.44%, major gain were seen in Media sector which closes with a gain of 0.71% 

Zee Ent, Maruti Suzuki and Asian paints were the top gainers today and Bharti infratel, Auro pharma and NTPC were the top losers.

MARKET OUTLOOK FOR NEXT DAY - 

Nifty future is moving in channel and breakout on either side will give investors clear trend where Nifty future is heading and directional move in Nifty Future could be expected soon. Market is majorly stock specific from last week as quarterly results are also over and we are heading towards expiry, sideways movement is expected till expiry and also investors is waiting for two main events next month i.e. RBI monetary policy and Federal Reserve will be in focus for U.S monetary policy as investors will look for fresh clues for market trend ahead. 

Movement in Indian indices is looking sideways for Wednesday session as well as till Nifty future breakout on either side of the channel. Key support for Nifty future is 10330 and resistance is 10440 

Support of Nifty future is placed at 10330 and 10265.

Resistance of Nifty future is placed at 10440 and 10530.

Support of Bank Nifty future is placed at 25800 and 25650.

Resistance of Bank Nifty future is placed at 26010 and 26140.

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