Indian equity benchmarks advanced on Thursday as the Sensex gained 239 points to 82,118.45 and the Nifty 50 rose 57 points to 25,331.85. Sentiment was bolstered by positive international market cues and net foreign institutional purchases of ₹12,563 crore that effectively absorbed domestic institutional selling. However, technical indicators such as a doji candle formation and a Relative Strength Index reading of 81.34 point to underlying indecision near the 82,500 resistance mark.
Key points
Analysts forecast a sideways-to-bullish outlook for the Sensex, tracking an expected intr…: Analysts forecast a sideways-to-bullish outlook for the Sensex, tracking an expected intraday trading band between 81,300 and 82,500.
Immediate market resistance sits between 82,400 and 82,500, with a decisive breakout abov…: Immediate market resistance sits between 82,400 and 82,500, with a decisive breakout above this range needed to unlock further gains.
Crucial downside support is anchored firmly within the 81,300 to 81,500 territory to buff…: Crucial downside support is anchored firmly within the 81,300 to 81,500 territory to buffer against emerging expiry profit-taking.
Sources checked by our analysis pipeline: 1
Sensex expiry today: Indian stock market benchmarks extended their winning streak on Thursday, November 12, supported by positive global cues, a revival in foreign institutional investor (FII) inflows and a decline in crude oil prices.
The Sensex rose 239 points to 82,118.45, while the Nifty 50 gained 57 points to 25,331.85.
A stronger rupee, easing crude prices and broad-based buying across sectors further lifted investor sentiment. However, with the market approaching the monthly derivatives expiry, traders will closely monitor key technical levels and positioning in the futures and options (F&O) segment to gauge whether the ongoing recovery can sustain or face another round of profit booking.
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