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Analysts attribute this fall to pre-Lok Sabha election outcome jitters, earnings season, and a high level of margin trading

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“In 2023, gold demonstrated remarkable returns, outperforming expectations and serving as a strong asset for investors amid economic uncertainties and market fluctuations.”

Germanys Dax was the top performer in the developed markets with 13.3% returns followed by Nasdaq 100 with 10.67% returns. The S&P 500 and Dow gave returns of around 9%. The rest gave returns between 6.40% and 8.52%.

Rupak De, Senior Technical analyst at LKP Securities said the mood will remain upbeat as long as the Nifty stays above 20,000 and will weaken only if theres a drop below 20,000. In his view, the Put writers will defend this level. For traders, a buy-on-dips strategy is recommended, he said, estimating the resistance at Rs 20,200-20,230. If this level is breached, the index could potentially move towards 20,450-20,500, De opines.

While the seasonality aspect for the month hasnt been very strong with the index giving negative returns in 5 out of the last 10 November months, the period from Navratri to Diwali Muhurat trading session has generally been positive for the markets.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers. Kotak Bank, Asian Paints, and UltraTech Cement also closed higher. On the other hand, Infosys, M&M, Wipro, TCS, and Sun Pharma closed in the red

PSU banks and mid and small-caps were the worst hit due to stretched valuations and concern over moderation in yields. Rising oil prices and erratic rainfall further led investors to stay cautious in...

Though the private sector bank is down by over 12% from its May highs, it is showing signs of momentum. After hitting a record high on 31 May 2023, the stock failed to hold on to the momentum. It found support above Rs 1820 levels, but that got breached and the stock eventually got support above Rs 1750 levels on daily charts

"Profit-booking was observed in August, with the bears dominating the market. Following the stunning run in recent months, the majority of short-term technical indicators had previously indicated that the markets will experience a period of momentum loss and exhaustion. As a result, it did not come as a surprise to investors looking for ways to profit from the upswing."