Nifty 50, Sensex today: What to expect from stock market indices in trade on November 24

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Sensex eased 5.43 points to close at 66,017.81, while the Nifty 50 fell 9.85 points, or 0.05%, to settle at 19,802.00. Nifty 50 formed a small negative candle on the daily chart with an upper shadow. Also Read: F&O Ban List: HPCL, India Cements, 7 others placed under futures & options ban for Nov 24 “Technically, this pattern indicates a continuation of range movement in the market.

We also observe a rising wedge-type pattern unfolding on the daily chart in the last 4-5 sessions," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities . He believes the short-term trend of Nifty remains choppy, while a decisive move above 19,900 levels could open doors towards new all-time highs. (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: Nifty 50 remained range bound on November 23 while encountering resistance around 19,850.

“On the hourly chart, an ascending triangle is forming, suggesting a probable upside breakout. Sentiment is anticipated to stay sideways as long as it holds above 19,700. However, a drop below 19,700 might exert downward pressure on the Nifty," said Rupak De, Senior Technical analyst at LKP Securities.

According to him, resistance at the higher end is established at 19,850, while a significant move beyond this level could trigger a rally towards 20,200 in the short term. The Bank Nifty index outperformed the benchmark and ended 128 points higher at 43,578, on November 23. “The Bank Nifty index maintained its sideways momentum, crucially holding the support level at 43,300, which stands as a make-or-break point for the index.