The BSE Sensex closed above the 40,000 mark, rising 503.55 points or 1.27 percent to 40,261.13 points on November 3 while the Nifty50 gained 144.30 points or 1.24 percent to 11,813.50 points.
According to pivot charts, the key support levels for the Nifty is placed at 11,745.8, followed by 11,678.1. If the index moves up, the key resistance levels to watch out for are 11,858.7 and 11,903.9.
FIIs have bought Rs 3,015 cr in cash markets in 2 days. Bank Nifty is at the cusp of a golden cross over. Bank Nifty’s 50 DMA: 23,113 and 200 DMA: 23,118. There is a big risk visible in global markets, across assets.