Nifty 50, Sensex today: What to expect from Indian stock market in trade on November 20 after Nvidia earnings | Stock Market News
India’s benchmark indices are set to begin Thursday on a strong note, buoyed by robust global sentiment following an impressive earnings report from Nvidia Corporation. The futures market for Nifty 50 reflects a premium of nearly 80 points, signalling firm investor interest ahead of domestic trade. Both the Sensex and Nifty 50 closed higher in the previous session, reinforcing positive momentum. Technical analysts point out that the Sensex has formed a bullish daily candle and could push higher if it clears 85,500, while Nifty may aim for the 26,300–26,400 zone if the breakout holds. On the flip side, support levels have been identified near 84,700 for Sensex and 25,850 for Nifty. The banking index is similarly called out for strength, with the Bank Nifty eyeing resistance around 59,500–59,700 and a key support zone near 58,580. Overall, the mood is cautiously optimistic — positive global cues are driving domestic sentiment, but sustaining upside will depend on key technical levels.
The Key points
- Futures for Nifty suggest a positive start with a notable premium over the previous close.
- Sensex gained over 500 points the prior session, while Nifty climbed by around 140 points.
- Analysts view 85,000–84,700 as crucial support for Sensex; breach below could weaken the trend.
- For Sensex, immediate resistance is around 85,500 — a breakout could open move toward 86,000.
- Nifty has formed a long bullish candle, hinting at a potential breakout above the 26,100–26,150 zone.
- Support for Nifty is placed at roughly 25,800–25,850; remaining above this is key for bullish outlook.
- Bank Nifty shows relative strength, with near-term resistance around 59,220 and upside potential to 59,500–59,700.
- Bank index support lies around 58,580–58,200, with recent resistance now likely acting as support.
- Derivatives data reveal heavy call writing at Nifty’s 26,200 strike and strong put interest at 26,000, reflecting overhead supply and floor demand.
- While global tech earnings have sparked optimism, analysts emphasise the importance of domestic technical levels to confirm further upside.
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