In the weekly analysis, we analyzing the whole week’s movement of the Nifty index. This week was highly volatile and event base. The market was witnessed sudden up and down and traded in a range. This week the market settled mixed positive whereas the Nifty index closed below 11900, Niftybank stayed above 31000 and Sensex holds 40350. Week to week closing the Nifty index loses –13 points, Sensex gains 35 points each whereas the Niftybank index gains around 260 points.
On a weekly basis, the Nifty index opened at 11879.20 went up to 11973.65 and closed at 11895.45 after making the low of 11802.65. Niftybank index opened at 30664.65 and stay volatile between 31205.20 to 30338.35 settled at 31008.40. Sensex opened at 40316.50 made a high of 40650.06 low 40026.99 and closed at 40356.69.
As per the last view, ‘if the Nifty index stays above 11650 then further rally can be expected in the coming weeks. If the Nifty index sustains below 11550 then we can more downside level till 11400 to 11300’ and the index moved up to 11973.
For the next week trading, if the Nifty index breaks and sustains above 11983 then it can further move towards 12000 and more. If the Nifty index breaks below 11800 then it can fell towards 11720 to 11650.
Above is the Nifty weekly chart. From the chart above it can be seen that the index staying up following the 100-day moving averages. The index has taken the support of 10800 and bounce back to 11973. From the chart, it can be seen that the Index is resisting near 12000. Last week the Nifty index closed with a bearish spinning top candle and this week bullish. It seems that neither bulls nor bears are not confident in the market. Technically, if the Nifty index sustains and closes above 11985 on weekly then the market will move up continue.
Index Nifty trading zone from 11-11-2019 to 15-11-2019
Upside resistance(weekly):- 11980, 12060, 12250.
Downside support(weekly):- 11850, 11720, 11650.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| EXIDEIND | Interim Dividend – Rs. – 1.6000 | 18 Nov 2019 | 19 Nov 2019 |
| GILLETTE | Final Dividend – Rs. – 25.0000 | 18 Nov 2019 | |
| IBULHSGFIN | Interim Dividend – Rs. – 7.0000 | 18 Nov 2019 | 19 Nov 2019 |
| CARERATING | Interim Dividend – Rs. – 8.0000 | 19 Nov 2019 | 20 Nov 2019 |
| PGHH | Final Dividend – Rs. – 48.0000 | 19 Nov 2019 | |
| LALPATHLAB | Interim Dividend – Rs. – 6.0000 | 20 Nov 2019 | 21 Nov 2019 |
| NILKAMAL | Interim Dividend – Rs. – 5.0000 | 20 Nov 2019 | 21 Nov 2019 |
| MONEYBOXX | Bonus issue 1:10 | 21 Nov 2019 | 23 Nov 2019 |
| PAGEIND | Interim Dividend – Rs. – 52.0000 | 21 Nov 2019 | 22 Nov 2019 |
| KSCL | Buy Back of Shares | 21 Nov 2019 | 22 Nov 2019 |
| MRF | Interim Dividend – Rs. – 3.0000 | 21 Nov 2019 | 22 Nov 2019 |
| TIDEWATER | Interim Dividend – Rs. – 50.0000 | 21 Nov 2019 | 22 Nov 2019 |
| GUJCOTEX | Stock Split From Rs.10/- to Rs.5/- | 22 Nov 2019 | 25 Nov 2019 |
| JBCHEPHARM | Buy Back of Shares | 21 Nov 2019 | 22 Nov 2019 |
NEWS HIGHLIGHT
- Airtel and Vodafone oppose IUC removal even as industry, TRAI favour new regime.
- Jio: Delay in implementation of zero calls connect to hurt services affordability.
- With the hike in meal prices, fares of Rajdhani, Shatabdi, Duranto to go up by 3-9%.
- Italy files appeal to stop ArcelorMittal dropping steel deal.
- IVRCl narrow Q2 net loss to Rs 394 cr.
- Vodafone Idea exploring the option to monetize data centers to pare debt.
- Tata Tele (Maha) post Rs 2335 cr loss for Jul-sep.
