Technicals: Day trading guide for November 24, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Stock Recommendations: Stock to buy today: Praj Industries (₹615.8)

Praj Industries’ stock has been blocked by a resistance at ₹600 since mid-September. But on Thursday, it broke out of this barrier and opened the room for further rally. In particularly, we expect the stock to appreciate on Friday. Although there could be a minor intraday dip to ₹608.

Stock Market Live Updates: Asian markets mixed amidst falling oil prices

Shares across Asia exhibited varied movements, predominantly trending higher amidst the decline in crude oil prices. Japan’s benchmarks surged at the outset, making strides after a national holiday. The Nikkei 225 index saw a rise of 0.97% or 323.37 points, reaching 33,775.20, while the broader TOPIX also marked an ascent of 0.74% or 17.71 points, totalling 2,395.90. Conversely, South Korea’s KOSPI experienced a marginal decline of 0.13% or 3.37 points, trading at 2,511.59. Hong Kong’s Hang Seng index underwent a decrease of 0.78% or 139.09 points, hovering at 17,771.75, whereas Australia’s S&P ASX200 recorded an increase of 0.40% or 28.10 points, reaching 7,057.30.

Attention of investors is drawn toward China’s property market, particularly following supportive measures that boosted developer stocks earlier in the week.

The ongoing decline in oil prices persists due to reports indicating that the OPEC+ meeting will now be conducted online. This delay, coupled with discord among members regarding quotas, has raised uncertainties regarding the likelihood of additional production cuts.