Trade Setup for Tuesday: Stock Market Today (21 Nov 2023)
Trade Setup for Tuesday
Trade Setup for Tuesday, 21 Nov 2023: Good morning, and welcome to the morning reports, the top things to know ahead of market opening and Trade setup today.
Asian Stock Markets
Asian stock markets are mostly trading higher on Tuesday following the gains from Wall Street overnight. Japan’s Nikkei is trading slightly lower by 0.23% while Australia’s S&P ASX 200 index is trading higher by 0.21%.
South Korea’s Kospi is trading higher by 0.85%, as the country’s producer prices fell for the first time in three months in October. Shanghai and Hang Seng extended their early gains and are trading higher by 0.42% and 1.57% respectively. Elsewhere, the Straits Times is trading lower, while Taiwan is up at 7.10 am IST.
U.S. Stock Market Indexes Updates
The US stock market indexes ended with significant gains on Monday and settled above their three-month high due to a rally in tech stocks. The market sentiments remain optimistic ahead of the FOMC minutes of the last meeting and Nvidia’s quarterly earnings, which are due on Tuesday. Meanwhile, the US Treasury yields continued their southward journey, lifting the market sentiments.
Microsoft shares gained over 2% after the software giant hired ousted OpenAI chief executive Sam Altman to head up its new advanced AI research team. The shares of Nvidia rose over 2% at an all-time high ahead of the quarterly earnings on Tuesday. Boeing Co jumped more than 4% after Deutsche Bank upgraded its rating on the aircraft maker to buy rating from hold.
The key US stock market indexes, the Dow Jones Industrial Average (DJIA) and S&P 500 index gained 0.58% and 0.74%, while the tech-heavy Nasdaq was up by 1.13% on Monday.
European Stock Market Indexes Updates
European stock market indexes closed mixed on Monday after struggling for a direction for most of the session. Investors were encouraged after eurozone current account data showed the largest surplus in over two years. German producer prices declined by 0.1% in October, as compared to a 0.2% fall in September, in line with the expectation.
Separate data showed that the eurozone construction output rose 0.4% during the month of September, rebounding after a 1.1% fall in August. The pan-European Stoxx 600 index ended higher by 0.10%. The key European stock market indexes, CAC closed higher by 0.18% while DAX and the UK’s FTSE were down by 0.11% at the close.
Indian Stock Market Indexes
Indian stock markets closed slightly lower on Monday, sliding for the second straight session. The domestic market opened flat and mostly traded below their neutral lines on the back of selling in Auto and Media stocks. The traders remain cautious ahead of the US Federal Reserve minutes of the last meeting, which is due later this week.
The Nifty index continued to move sideways movement since the last 2 to 3 sessions. Nifty was hovering near 19700- 19800 with no clear direction, while Bank Nifty continued to underperform the Nifty and remained slightly weak. FIIs were the net sellers in the Indian equity cash segments, they offloaded shares worth Rs 645.72 crore while DIIs were the net buyers, and they bought shares worth Rs 77.77 crore.
Stock Market Today
Gift Nifty is trading slightly down today at 19800 levels. The indication from the US and Asian Stocks are positive today. Indian stock market indexes are likely to open higher and trade with a positive bias.
Note:- With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy for Free. Click here to Open Free Trading and Demat Account and get a lifetime Demat AMC Free with Flat Rs 20 Brokerages
If you like the “Trade Setup for Tuesday; Stock Market Today ( 21 November 2023 )” please share it with others.
You may also like to read, Stock Market Prediction Next Week (20 – 24 Nov 2023)
Nifty and Bank Nifty Prediction for Tomorrow, 21 Nov 2023
Happy Investing!!
Editor’s Desk
