Stock Market Today: All You Need To Know Going Into Trade On Dec. 2

Share market today: On Friday, the market pushed the benchmark Nifty 50 Index and S&P BSE Index, ending the week positively with an almost 1% gain at 24,131.10 and 79,802.79, respectively. Since Telecom and Industrials were prominent gainers; Bank Nifty has also shown some positivity, ending at 52,055.60, which is about 1.7% higher, however, IT and Auto fell behind. Broader indices had shown outperformance, with sharp gains in mid and small caps of 2.5 and 5%, respectively.

Stock market today:

Nifty turned bullish in the short term. Immediate resistance is around 24,350 levels. Devarsh Vakil, Deputy Head Retail Research, HDFC Securities, said; that if it goes under some correction, Nifty can take support around 23,900 levels.

Bank Nifty is taking time around its 40-hour moving average of 51,800. If a dip happens, there is a support zone in between 51,500-51,170, and from here the up move may continue further, said Jatin Gadia, Technical Research Analyst at Mirae Asset Sharekhan. On the upside, the crucial resistance zone lines at 52,800 to 53,000.

Asian market reflected a mix of emotions on Friday while U.S. and Europe markets concluded on a positive note.

The upcoming week will witness primary data releases and events. The post-market GDP data release on Friday may see participant reactions. The most important thing is the RBI MPC’s monetary policy review. Ajit Mishra, SVP, of Research, Religare Broking Ltd, said, that high-frequency indicators like auto and cement sales, and HSBC Manufacturing and Services PMI data can provide market direction further. Foreign inflows are also a major sentiment driver.

Stock to watch

Cipla

On Monday, Samana and Rumana Hamied may sell around 1.4 crore shares, setting the floor price at Rs 1,442 for each share.

Rail Vikas Nigam

The company comes as the lowest bidder for infra projects, which is worth Rs 643 crore.

RBL Bank

There is a mutual agreement between the bank and Bajaj Finance on discontinuation of the issuance of new co-branded cards.

Adani Green Energy

Adani Hydro Energy Four, a wholly owned subsidiary is incorporated by Adani Saur Urja.