Nifty 50, Sensex today: What to expect from stock market indices in trade on November 23

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Sensex closed 92.47 points higher at 66,023.24, while the Nifty 50 settled 28.45 points, or 0.14%, higher at 19,811.85. Nifty 50 formed a small positive candle on the daily chart with a long lower shadow. “Technically, this pattern indicates a formation of hanging man type formation, which is a bearish reversal pattern.

But, having formed this pattern amidst a range movement, the predictive value could be less," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He believes the short- term trend of Nifty remains range bound with positive bias, while a decisive move above 19,850-19,900 levels is expected to open sharp upside towards new all-time highs. Also Read: 6 things that changed for the stock market overnight - Gift Nifty, US jobless claims to drop in Nvidia shares Here’s what to expect from Nifty and Bank Nifty today: The Nifty traded sideways for most of the session except for the last hour, during which it recovered from the day's low on Wednesday.

“The overall sentiment remains positive as the index has held above the crucial support level of 19,500. Resistance is positioned at 19,850 on the higher end; a breakthrough could potentially propel the Nifty towards the 20,200 mark," said Rupak De, Senior Technical analyst at LKP Securities. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The Bank Nifty index fell 240 points to end at 43,450 on November 22.