Nifty50 kicked off the day with a gap-up opening at 19,844.65. The market saw a bullish candle formation, but it wasn’t a smooth ride – the candle had wicks on both sides, indicating a tussle between the bulls and bears.
Interestingly, In the past week, Nifty faced resistance in surpassing the high and low from the trading session on November 16th. However, after six trading sessions, it successfully closed above that mark at 19,889.70
Diving into specific sectors, the stars of the day were Nifty Oil and Gas, along with Nifty Metal, showing significant upward movement. On the flip side, Nifty Healthcare and Nifty Pharma experienced a selloff.
Zooming out to broader market indices, Nifty Smallcap 100 showed a relatively stable performance, closing up by a modest 0.30%. Meanwhile, Nifty Midcap maintained its positive momentum from the opening, closing higher by 0.54%. The market dynamics seem to be in flux, showcasing the constant tug-of-war between different sectors and market caps.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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