By theindianinvestor 
27 November 2024
Time : 8 am IST
Insights :
- Let’s understand yesterday’s market movements. Nifty closed slightly lower, down by 27 points, settling at 24,194.
- The market remained range-bound yesterday. After a strong rally, Nifty traded within a range of 24,100 to 24,350.
- Interestingly, FIIs were net buyers of ₹1,157 crores, while DIIs were net sellers of ₹1,911 crores. If FIIs continue to buy, we can expect the market to form a base within this range.
- Despite the completion of all major events, India VIX is still at 15.3. For a strong upward rally, the VIX needs to sustain below the 14 level.
- US markets closed at all-time highs, with tech stocks showing recovery.
- Asian markets are trading lower.
- GIFT Nifty indicates a slightly positive opening for Indian markets.
- Brent crude is down 0.5%, trading at $72.75 per barrel.
- NTPC Green Energy’s IPO is set to debut today, with the GMP indicating a flat listing.
- For this expiry, if there is no unexpected uncertainty, the markets may not witness a significant move as only two trading sessions remain — today and tomorrow.
- Nifty might find support at 24,150. If this level breaks, 24,000 will become a crucial support. Resistance is expected around 24,300.