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The stock market witnessed a remarkable performance on November 13 as several major players soared above their 100-day Simple Moving Average (SMA).

The Nifty Realty index closed 2.95 per cent up at 683.05.

The S&P BSE Sensex rallied more than 700 points while the Nifty50 closed above 19600 levels on Wednesday. Sectorally, buying was seen in realty, IT, auto, oil & gas and energy stocks.

The short-term trend of the Nifty remains positive. Having moved above the key resistance of around 19,600 levels, there is a possibility of Nifty advancing towards the next set of hurdles of around 19,850 and the next 20,050 levels in the near term. Any dips down to the immediate support of 19,500 could be a buy-on-dips opportunity, said Nagaraj Shetti of HDFC Securities.

The ambiguity over when the Reserve Bank of India would start implementing its plan to sell bonds via auctions, to manage liquidity in the banking system, added to the nerves.

The Indian currency rose 0.23% on Wednesday, its biggest single-session gain since Sep. 20, after hitting a near two-month high of 83.02 earlier in the session.

“We have to be very careful in what categories we enter because I still want Eveready to be a B2C business, which we are good at running. All our businesses are B2C businesses. And plus we want to get into categories which now do not have very strong sort of players.”

On November 13, Monday, StockEdge set off the alarms with over 40 stocks experiencing a dip in Relative Strength Index (RSI). ETMarkets delves into the intricacies of RSI and spotlights 5 stocks navigating the downward RSI trajectory, unraveling why investors should pay heed to this critical indicator.