Stock Market Today: Trade Setup for Nifty 50, Gautam Adani to Global Markets; 5 Stocks to Buy or Sell – November 28

As we head into Thursday, November 28, the Indian stock market, particularly the Nifty 50 index, is poised for an action-packed session amid a mix of domestic and global cues. After a turbulent week marked by heightened global uncertainties and local market volatility, investors are cautiously assessing the broader market trends and individual stock performances. In this article, we take a look at the trade setup for Nifty 50, key developments around Gautam Adani’s business empire, global market trends, and five stocks to buy or sell.The Nifty 50 ended the previous session on a mixed note, oscillating between positive and negative territories, as market participants continue to evaluate the macroeconomic scenario. Globally, inflation concerns in major economies like the U.S. and the persistent risk of recession are weighing on sentiment.The Nifty 50 is likely to find support near 19,200-19,300 levels, while resistance lies around 19,600-19,800. Investors should monitor the 50-day moving average, which has been a reliable gauge of market direction. A decisive breach of these levels could set the stage for either an upward or downward move.A break above resistance could propel the index toward 19,800, whereas a breakdown below support could take the index lower to 19,000 or 18,800.

The ongoing developments surrounding Gautam Adani’s business conglomerate have been a major point of discussion in the markets. Adani Group, which faced a significant sell-off in its stock prices earlier this year due to allegations of corporate governance issues and market manipulation, is slowly making a comeback. The group has been working on restructuring its debt, with several of its flagship companies focusing on core businesses like ports, energy, and infrastructure. On November 27, Adani Enterprises announced it had raised $1.1 billion through a bond issue to fund expansion plans, with a focus on renewable energy projects. This has spurred some positive sentiment, especially after the recent dip in Adani stock prices, which saw valuations slide from their peak. However, investors are advised to exercise caution, as the stocks remain volatile and highly sensitive to regulatory and corporate governance scrutiny. Global markets have been grappling with persistent challenges stemming from inflationary pressures, interest rate hikes by central banks, and slowing economic growth. In the U.S., the Federal Reserve’s aggressive stance on interest rates continues to impact sentiment, with investors nervous about the prospect of a hard landing. Meanwhile, European markets are under pressure due to weaker-than-expected economic growth data and ongoing geopolitical tensions, particularly the war in Ukraine.Asian markets, including Japan and China, are facing mixed performances, with China’s economic recovery still uncertain, especially after a series of COVID-19 lockdowns and a property sector crisis. Despite this, India continues to stand out as a relatively attractive investment destination, bolstered by strong domestic growth and robust corporate earnings.

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