Market Outlook For Tomorrow (16-Nov)

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Markets witnessed a flat opening and gradually picked up momentum as the day progressed, to close in green. On the daily chart we are observing that the upward gap area (20,080 to 20,267 / 6,032 to 6,084) levels which we had mentioned in our previous daily report has act as a support for the markets. Hence in the coming trading session if indices trade convincingly above 20,335 / 6,129 levels then they are likely to test 20,435 - 20,590 / 6,155- 6,189 levels. On the down side 20,105- 20,046 / 6,060- 6,034 may act as support for the day.


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