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Stock Market Kickstart: 10 Essential things to Ignite Your Trading Day

Stock Market Opening Trends (November 1)

  • The bench­mark Sen­sex and Nifty indices are expect­ed to open with slight loss­es on Novem­ber 1, with indi­ca­tions from the GIFT Nifty point­ing to a neg­a­tive start for the broad­er index.

Recent Market Correction

  • On Octo­ber 31, the mar­ket cor­rect­ed sig­nif­i­cant­ly after an ini­tial gap-up open­ing, break­ing a two-day win­ning streak.
  • Unsus­tain­abil­i­ty of Nifty50 at around 19,250 due to sell­ing pres­sure.
  • Neg­a­tive crossover on hourly charts sug­gests the poten­tial for fur­ther down­trends.
  • Pos­si­bil­i­ty of decline to 19,000–18,900 lev­els, but a break­through at 19,250–19,300 may lead to 19,500–19,600 lev­els.

Sensex and Nifty Performance

  • BSE Sen­sex dropped by 238 points to reach 63,875.
  • Nifty50 declined by 61 points to 19,080.
  • For­ma­tion of a long bear­ish can­dle­stick pat­tern on dai­ly charts indi­cates a poten­tial shift from a bull­ish to a bear­ish trend.

Key Support and Resistance Levels

  • Piv­ot point cal­cu­la­tor sug­gests pos­si­ble sup­port at 19,056, 19,014, and 18,946 for the Nifty.
  • Imme­di­ate resis­tance lev­els at 19,191, 19,233, and 19,301.

GIFT Nifty and International Markets

  • GIFT Nifty like­ly to start mar­gin­al­ly neg­a­tive with futures at 19,130 points.
  • In the US mar­kets, stock futures slight­ly low­er as Wall Street pre­pares for the Fed­er­al Reserve’s pol­i­cy deci­sion on inter­est rates.
  • Euro­pean mar­kets had a chal­leng­ing Octo­ber, with Euro­zone infla­tion falling to a two-year low and the euro zone econ­o­my con­tract­ing by 0.1% in the third quar­ter.
  • The Euro­pean Cen­tral Bank recent­ly paused its series of 10 con­sec­u­tive inter­est rate hikes.

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