Indian Shares: Nifty 50 Eyes Mild Upside as Traders Track Nvidia Earnings, CPI Data

Indian shares extended gains on Wednesday, lifted by advances in heavyweight IT and banking stocks despite mixed global cues. The Nifty 50 rose 0.55% to 26,052.65, while the Sensex ended 0.61% higher at 85,186.47.

The rally pushed the BSE market capitalisation to ₹475.6 trillion, adding nearly ₹1 trillion to investor wealth during the session.

Context: India–US Trade Talks Support Sentiment

Markets held a steady tone as investors tracked the first phase of discussions on an India–US trade deal, which has supported export-oriented sectors. Broader indices, however, remained largely unchanged, signalling measured participation.

Key Triggers for Thursday

Analysts expect the Nifty 50 to maintain a gradual upward bias, though moves may stay limited as global macro data unfolds.
Key events being watched:

• UK and Eurozone inflation data due later on Thursday

• US employment indicators expected a day later

• Developments in India–US trade negotiations

• Reaction to Nvidia’s strong quarterly results

Nvidia Earnings Lift Global Tech Sentiment

Nvidia reported $57 billion in Q3 revenue, up 22% quarter-on-quarter and 62% year-on-year.
Net income rose 65% to $31.91 billion.
The company projected $65 billion in Q4 revenue, topping analyst estimates. Shares gained 4% following the announcement.

Stocks to Watch on 20 November

PB Fintech (POLICYBZR)

• Buy: ₹1,850

• Target: ₹1,990

• Stop loss: ₹1,785

The stock broke above a key supply region and is trading firmly above major moving averages with steady volumes.

Cigniti Technologies (CIGNITITEC)

• Buy: ₹1,793

• Target: ₹1,919

• Stop loss: ₹1,725

A close above a major resistance band and strong volume support indicate continued positive momentum.

Cyient (CYIENT)

• Buy: ₹1,152

• Target: ₹1,200

• Stop loss: ₹1,120

A short-term reversal pattern has formed, with support holding near ₹1,120.

Bajaj Finance (BAJFINANCE)

• Buy: ₹1,005

• Target: ₹1,050

• Stop loss: ₹990

Rebound from a key support level suggests room for a move toward the next resistance zone.

Astral (ASTRAL)

• Buy: ₹1,440

• Target: ₹1,500

• Stop loss: ₹1,420

A bullish reversal on the daily chart points to a potential short-term rise.

Sona BLW Precision Forgings (SONACOMS)

• Buy: ₹506.95

• Target: ₹530

• Stop loss: ₹495

The stock broke above the 500 level after holding the 200-day moving average, with RSI strength signalling further gains.

Samvardhana Motherson International (MOTHERSON)

• Buy: ₹112

• Target: ₹120

• Stop loss: ₹109

Strong support at ₹102 and a move above the 50-EMA underline improving sentiment.

Bharat Forge (BHARATFORG)

• Buy: ₹1,446

• Target: ₹1,510

• Stop loss: ₹1,415

A breakout above ₹1,415 and higher-bottom patterns maintain a positive bias.