Nifty 50, Sensex today: What to expect from stock market indices in trade on November 22

livemint.com:

Sensex closed 275.62 points higher at 65,930.77, while the Nifty 50 gained 89.40 points, or 0.45%, to settle at 19,783.40. Nifty 50 formed a small positive candle on the daily chart with upper shadow and with gap up opening. The opening upside gap remains unfilled.

Also Read: 5 things that changed for the stock market overnight - Gift Nifty to US Fed meeting minutes “The formation of frequent upper shadows on the daily candles near 19,850-19,875 levels indicates presence of strong overhead resistance. At the same time, Nifty is not showing any significant reversal pattern at the highs or not showing any sharp weakness from near the hurdle. This is a positive indication," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

He believes the short-term trend of Nifty 50 continues to be range bound. “The present consolidation pattern could eventually result in a decisive upside breakout of the hurdle at 19,900 levels from here or from slightly lower levels. The anticipated upside breakout could pull Nifty towards the new all-time highs," Shetti said.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Here’s what to expect from Nifty 50 and Bank Nifty today: Analyzing the Open Interest (OI) data, Mandar Bhojane, Research Analyst at Choice Broking said that the call side exhibited the highest OI at 19,900, followed by 20,000 strike prices. On the put side, the highest OI was observed at the 19,700 strike price. “The Nifty concluded with a gain after a positive trading session, maintaining a consistently positive sentiment as it consistently closed above the critical support level of 19,500.