Sensex gains 550 pts, Nifty above 19,600; Hindalco, Tech Mahindra top gainers

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November 15, 2023 / 09:13 AM IST

Sensex Today | Deven Mehata, Research Analyst at Choice Broking:

With the Easing Inflation in US as well as in India, the benchmark Sensex and Nifty indices are likely to open higher on November 15 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 250 points.

After a gap up opening, according to the charts Nifty may be taking support at 19500, followed by 19,450 and 19,420. On the higher side, 19,600 can be an immediate resistance, followed by 19,650 and 19,700.

On the weekly expiry, the charts of Bank Nifty indicate that it may get support at 44,000, followed by 43,950 and 43,900. If the index advances, 44,250 would be the initial key resistance level to watch out for, followed by 44,400 and 44,500.

Foreign institutional investors sold shares worth Rs 1,244.44 crore, while domestic institutional investors bought Rs 830.40 crore worth of stocks on November 13, provisional data from the National Stock Exchange showed.

With the inflation coming down in India as well as in the US, the market is ready for further up-move. Traders and investors should hold their long positions with trailing stop loss and Fresh entry can be made on the long side on dips.