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Navigating the Stock Market: In-Depth Analysis and Proactive Strategies

ANALYSIS DATE: 24-11-2023

We are here to analyse the broad market with focus on Nifty, Bank Nifty, and Inter-sector Analysis. Our goal is to decipher the momentum and make informed decisions about where to allocate our funds in the coming weeks.


Nifty:

I'll be examining Nifty's journey across various time frames, from three minutes to weekly timeframe.


I've set up a layout with basic indicators like RSI and exponential moving averages, but the real magic happens in their application. On the three-minute time frame, we notice a subtle negative range shift, suggesting a potential loss of momentum. The 15-minute time frame reveals a clearer negative divergence, a sign of caution.




Moving to the 75-minute time frame, we observe resistance around 19,800. Until there's a confirmed close above this level, it's wise to tread carefully. As for your portfolio, if you're in cash, exercise patience and wait for solid opportunities. Opportunities always exist; you just need to be thorough, especially in a market that has already rallied.


Bank Nifty:

Now, let's shift our focus to Bank Nifty. The 3-minute time frame signals a bearish trend, and caution is advised, particularly with public sector banks.

The 15-minute and 75-minute time frames continue to show weakness. As for the daily time frame, signs of resistance suggest a need for vigilance.


Inter-Sector Analysis:

Switching gears, let's explore different sectors. The comparative chart since Monday indicates CNX Reality maintaining its lead, while PSU Banks face consistent challenges. The auto sector has been a standout performer, along with metals, finance, private banks, and energy. Speaking of energy, it presents attractive opportunities for the next few weeks. As always, thorough analysis, especially on volume, is crucial in identifying potential trends.



Conclusion:

As we navigate the complex landscape of the stock market, My analysis and proactive strategies serve as a valuable compass. The cautionary signals in Nifty and Bank Nifty underscore the importance of a vigilant approach, whether you're holding cash or actively invested. Remember, opportunities persist, but thorough analysis, risk management, and a keen eye on market trends are the keys to success.

If you're interested in real-time updates and trade recommendations, join my Telegram channel: https://t.me/tradewithkavita

Watch past webinars for more technical analysis and swing trading knowledge sharing https://www.youtube.com/@EXP_Invest


Thank you for reading!


-Kavita Agrawal CMT CFA

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