Key Points
Buy or sell stocks: The domestic stock market indices closed in the red on Monday, November 18, extending their losing streak to the seventh successive session..
The Nifty 50 index closed 0.34 per cent lower after Monday's session at 23,453.80 points, compared to 23,532.70 points at the previous market close...
Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said the Nifty, after opening on a positive note, gradually went below the 200 DMA with tough resistance near the 23,600 zone..
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, Nifty index opened on a positive note above 23600 zone but gradually came down below 200 DMA with tough resistance witnessed near 23600 zone and downside has 23300 as the important crucial support level as of now...
Bank Nifty has moving sideways with 50000 maintained as the important support zone and would need to sustain above the 50700 levels to gather some momentum and establish conviction for further upward movement of the index, said Parekh...
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