08:10 AM
How can the market move ahead?
Nagraj Shetty of HDFC Securities Lets say that a long bull candle formed on the daily chart in yesterday’s trade which is a sign of a sharp upside bounce after the heavy fall of the last two days. Yesterday’s rally after last week’s strong fall can be called a pullback rally of a down trend. This week the resistance is seen around 18,100-18,200 for this uptrend.
He also says that Monday’s rally could be a sign of an uptrend from the lower levels once again. But looking at the negative chart pattern formed recently, it looks like the pull back could face hurdles near 18,100-18,200 before weakening again from the upper levels. He also says that if Nifty breaks above this barrier of 18,200 strongly then then the negative chart pattern formed at present may become ineffective and the market may see further upside.
Like the giants in yesterday’s trade, small-medium stocks were also seen in enthusiasm. The Nifty Midcap 100 index closed 1.82 per cent higher. At the same time, the Smallcap 100 index closed with a gain of 0.86 percent.
08:00 AM
What’s the strategy on NIFTY
Talking on the strategy of Nifty, Virendra Kumar of CNBC-Awaaz said that its resistance zone is 17957-17997. At the same time, the big resistance zone is 18047-18090. Its base zone is 17849-17810. Whereas the larger base zone is 17759-17720. The buying strategy worked on the first decline yesterday. The selling of FIIs has come to a halt to some extent. Bullish signals from F&O data, 17800 put is heavily sold. 17997-18020 is an important supply zone. Call writers of 18000 are on the back foot. Take a buy and also buy on a fall above the first base. 17997-18020 is an important supply zone in Nifty. If the level of 17997-18020 is crossed then 18047-90 is possible. If it hinges above 18090, hold it long, you can also carry it.
07:50 AM
What is the strategy on NIFTY Bank
While strategizing on Bank Nifty, Virendra Kumar of CNBC-Awaaz said that the buy strategy worked on the first decline of yesterday. Good put writing is seen at 39500 level. There is a lot of open interest in the 40000 call. Yesterday saw short covering in 40500-41000 call. Buy till it stays above 39500. There is a slight resistance considering the OI of the call of 40000. If this level is exceeded 40080-360-660 is possible. In the same Bank Nifty, the first resistance is 39860-40080 and the second resistance is at 40360-40660. At the same time, the first base is at 39485-39310 and the second base is at 39200-39050.
07:40 AM
BHARTI AIRTEL and SUN PH results today
Two Nifty companies BHARTI AIRTEL and SUN PHARMA will present their second quarter results today. The profit of Bharti Airtel can be doubled. The ARPU is also expected to improve. The market will also keep an eye on the results of JSPL, DABUR, HPCL and GODREJ PROPERTIES.
07:33 AM
Today is the last day of Fino Payments Bank IPO
The IPO of Fino Payments Bank will close today. 87% full so far. Here is the second day of IPO of POLICYBZR, SJS and Sigachi. Nykaa’s IPO has closed 82 times.
07:33 AM
RIL’s Diwali gift to Mumbai
Reliance gave a Diwali gift to Mumbai. Drive-in Theater will be launched at Jio World Drive Mall. Enjoy watching the movie from 5th November in your car.
07:26 AM
HERO MOTO sales down 32%
Hero MotoCorp sales down 32% in October On the other hand, the sales of Royal Enfield of EICHER MOTORS have also come down by 34%.
07:16 AM
TATA MOTORS losses more than anticipated
TATA MOTORS has incurred a loss of 4 thousand 415 crores more than the estimated due to tax expenditure in the second quarter. JLR business has also suffered a loss of 300 million POUND due to the shortage of semi conductors. Management said – The issue of CHIP SHORTAGE can be resolved in the second half.
07:10 AM
Asia sluggish, SGX Nifty gains
Indications from the global market are seen mixed. Light pressure is being seen on Asia but SGX NIFTY is seeing a rise of quarter percent. US markets closed at record levels yesterday. Ahead of the Fed meeting today, there is sluggish trading in the dow futures.
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