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Trade Setup for Tuesday: Things to know before Opening Bell

The market has been on an upward trend for three consecutive sessions, with the Nifty50 surpassing the 19,250-19,300 level.

image for illustrative purpose

Despite weak cues, key indices inch up
X

6 Nov 2023 11:11 PM IST

The market has been on an upward trend for three consecutive sessions, with the Nifty50 surpassing the 19,250-19,300 level.

The next key level to watch is the 50-day EMA at 19,450, with a potential target range of 19,550-19,600.

The BSE Sensex and Nifty50 have shown positive movements, with support at 19,300.

The market breadth is in favor of bulls, with the Nifty Midcap 100 and Smallcap 100 indices also gaining.

Key support and resistance levels on Nifty are highlighted.

Nifty Bank has been trading positively but with some indecisiveness among bulls and bears, forming a Doji candlestick pattern.

Call options data and Put options data are provided, indicating key levels of open interest and potential support/resistance points.

Stocks with high delivery percentage include Hindustan Unilever, Tata Consultancy Services, ICICI Prudential Life Insurance Company, Reliance Industries, and Coromandel International.

Long build-up, long unwinding, short build-up, and short-covering stocks are identified based on open interest data.

Bulk deals and upcoming earnings results for various companies are mentioned.

The article also mentions stocks in the news, including Mamaearth's parent company's debut on the stock market, Bajaj Finance's qualified institutions placement (QIP), and financial results of various companies.

Fund flow data for foreign institutional investors (FII) and domestic institutional investors (DII) is provided.

The article notes that GNFC is under the F&O ban on NSE for November 7.

It's important to remember that all investments carry risks, and decisions related to investing should be made with careful consideration, preferably with the guidance of a financial professional.

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