Coronavirus India Latest Updates: Active Case Load Inches Lower Toward 2 Lakh

Palak Kothari, Research Associate at Choice Broking:

On the weekly expiry day, the index opened on a negative note and traded with negative bias throughout the sessions, and closed the session at 17764.80 levels with a loss of 133 points. While Bank Nifty closed the session at 37976.25 level with a loss of 65.30 points. On the sectoral front, all closed on a red note while the Nifty Auto and Metal were the top losers. 

Technically, the index has given a breakdown of the rising trend line & given closing below 50 DMA, which suggests weakness for the next trading sessions. From the last four trading sessions, the index has been trading with lower highs & lower lows, which points out some corrections for the next trading session. 

However, the Index has taken support from the lower band of Bollinger, breaching below can show further downside. Furthermore, the index has given closing below 21 DMA as well as the Stochastic & MACD indicator is trading negative crossover, which points to weakness in the counter for the next trading sessions. At present, the index has a support level of 17650, while resistance is at 18000 levels.

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Palak Kothari, Research Associate at Choice Broking:

On the weekly expiry day, the index opened on a negative note and traded with negative bias throughout the sessions, and closed the session at 17764.80 levels with a loss of 133 points. While Bank Nifty closed the session at 37976.25 level with a loss of 65.30 points. On the sectoral front, all closed on a red note while the Nifty Auto and Metal were the top losers. 

Technically, the index has given a breakdown of the rising trend line & given closing below 50 DMA, which suggests weakness for the next trading sessions. From the last four trading sessions, the index has been trading with lower highs & lower lows, which points out some corrections for the next trading session. 

However, the Index has taken support from the lower band of Bollinger, breaching below can show further downside. Furthermore, the index has given closing below 21 DMA as well as the Stochastic & MACD indicator is trading negative crossover, which points to weakness in the counter for the next trading sessions. At present, the index has a support level of 17650, while resistance is at 18000 levels.

Source : https://www.moneycontrol.com/news/business/markets/share-market-live-updates-stock-market-today-november-18-latest-news-bse-nse-sensex-nifty-covid-coronavirus-paytm-sapphire-foods-zomato-kalpataru-power-camlin-fine-bhel-jindal-drilling-pokarna-vedanta-7733661.html

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