{
}
The Sensex has consistently posted negative returns during the Kumbh Mela festivals over the past two decades, with an average loss of 3.42%. Historical data shows that the highest decline occurred between July and September 2015, when it fell by 8.29%. This trend may be influenced by cultural shifts and investor behavior during the pilgrimage period.
The Nifty index ended November with a modest 1% decline, but futures rollovers surged to 79.34%, indicating increased trader hedging amid expectations of a potential turning point. As December begins, open interest has risen to 1.29 crore shares, reflecting aggressive short positioning and a higher cost of carry at +0.97%, suggesting bears are betting on continued negative sentiment.
Broking firms Groww and Samco Securities have launched innovative features to encourage responsible derivatives trading among retail investors, complemented by educational initiatives to boost financial literacy. In response, markets regulator Sebi has tightened equity derivatives trading norms, limiting weekly options contracts to one per exchange and increasing the minimum trading amount to Rs 15-20 lakh. Additional measures include enhanced monitoring of position limits, upfront collection of option premiums, and increased tail risk coverage.
Nifty 50 rebounded impressively in the week ending November 22, surging 2.50% and breaking above the crucial 200-day exponential moving average, signaling a shift in market sentiment. The index has found support at 50-week EMA, with a bullish hammer pattern suggesting continued upward momentum. However, it faces psychological resistance between 23,900 and 24,000, where strong call writing indicates trader caution.
On November 19, the Nifty 50 closed at 23,519, rebounding from a seven-day decline, while the Bank Nifty rose to 50,627. Key levels to watch include 23,800 for Nifty, which could lead to a rally towards 24,000–24,500, and 51,000 for Bank Nifty, with potential movement towards 51,500–52,000.
More than 50% of stocks across major Indian indices have fallen below their 200-day moving average amid a market correction, with over 400 stocks experiencing significant declines. Analysts advise caution, particularly with low-volume stocks, while suggesting that fundamentally strong companies may find support at this level. Foreign investors have offloaded substantial amounts, contributing to the bearish sentiment, as concerns over geopolitical tensions and weak earnings persist.
The Nifty index has shown persistent bearish momentum, dropping 2.55% last week and closing below critical support at 23,800. With the index hovering near the 200 DEMA at 23,540 and approaching a demand zone between 23,300 and 23,200, selling pressure may increase if it slips below 23,480, leading to a sell-on-rise strategy dominating market sentiment.
The Nifty 50 rebounded over 370 points, closing nearly one percent higher, forming a Bullish Piercing Line pattern, indicating a positive trend. Resistance is expected at the 24,300–24,500 zone, while support lies at 24,000 and 23,800. The Bank Nifty also shows potential to rise towards 52,500, with 51,700 as immediate support.
The Nifty 50 has faced resistance near 24,500, coinciding with the 100-day EMA, closing at 24,467 after a 128-point rise. A decisive move above 24,500 could signal further gains, while support is seen at 24,100–24,000. Meanwhile, the Bank Nifty needs to hold above 52,300 and surpass 52,600 to target 53,000, with support at 51,700.
Samco Securities Ltd.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
sensex faces historical declines during kumbh mela festivals over two decades
State Bank of India
NTPC Limited
HDFC Bank Ltd
Reliance Industries Limited
Infosys Ltd
Wipro Ltd
Samco Securities Ltd.
Axis Bank Ltd
IND
Show more
07:54 13.01.2025
Nifty shows signs of potential reversal amid rising futures rollovers
10:23 01.12.2024
Brokerages introduce features to enhance responsible derivatives trading practices
08:40 01.12.2024
Nifty 50 rebounds above 200 DEMA signaling bullish market sentiment
17:12 24.11.2024
Nifty approaches key resistance while Bank Nifty eyes crucial support levels
18:09 20.11.2024
Indian stocks face significant declines as market correction deepens
United States Dollar
Indian Rupee
LKP Securities Ltd.
Samco Securities Ltd.
WealthMills Securities
USA
IND
Rupak De
Om Mehra
Kranthi Bathini
Show more
05:01 19.11.2024
nifty faces selling pressure as critical support levels are tested
02:30 17.11.2024
Nifty 50 shows bullish trend as Bank Nifty eyes new highs
20:40 05.11.2024
Nifty faces resistance at 24500 while Bank Nifty eyes 52600突破
17:55 29.10.2024
Trending
Subcategory
Industry Trends
Corporate News
Global Trade Developments
Startups & Entrepreneurship
Government Economic Policies
Supply Chain Management
Retail and Consumer Goods
Industry Mergers & Acquisitions
Stock Market Updates
Finance Mergers & Acquisitions
Global Financial Events
Energy Sector Developments
Emerging Startups
Funding Rounds & Investments
Venture Capital Investments
Financial Scams and Security
Central Bank Actions
Cryptocurrency & Blockchain Regulations
Economic Indicators
CEO Changes
Countries:
Companies:
Apple Inc.
NVIDIA Corporation
Learning Resources Inc.
MGA Entertainment Inc.
Toyota Motor Corp
State Street Global Advisors Luxembourg SICAV - SSGA EMU ESG Screened Equity Fund
European Union Bonds
Dell Technologies Inc.
Taiwan Semiconductor Manufacturing Company Limited
SLB 4,6% 01JUN25
Equinor Ventures AS
Quanta Services, Inc.
Gold Circuit Electronics Ltd.
Unimicron Technology Corp.
Yatra Online, Inc.
Daiwa Institute OF Research Ltd.
Pegatron Corporation
KODEX India Tata Group
Wistron Corporation
Foxconn Technology Co., Ltd.
Currencies:
United States Dollar
Chinese Yuan
Indian Rupee
Euro
United Arab Emirates Dirham
Japanese Yen
Australian Dollar
New Taiwan Dollar
Vietnamese Đồng
British Pound Sterling
Thai Baht
Saudi Riyal
Indonesian Rupiah
South African Rand
New Zealand Dollar
People: