Market ended higher for the second consecutive day on 26 October 2021 mainly supported by auto, realty and metal stocks. At Close, the Sensex was up 383 points at 61350, and the Nifty was up 143 points at 18268.Tata Motors, Tata Steel, SBI Life Insurance, Titan Company and JSW Steel were among the major Nifty gainers. Losers included IndusInd Bank, ICICI Bank, Power Grid Corp, HUL and NTPC.All the sectoral indices ended higher with auto, realty, metal, oil & gas indices up 1-3 %. BSE midcap and smallcap gained over 1.5% each.
The next higher levels to be watched are around 18350 levels. Any sustainable move above 18350 levels may cause momentum towards 18400-18500 levels. On the downside, any violation of an intraday support zone of 18100 levels may cause profit booking towards 18000-17800 levels. The daily strength indicator RSI has eased off from the overbought zone indicating profit booking at higher levels. On the index front, Nifty should hold 18000 levels for any rebound else profit taking would resume. Needless to say, the scheduled monthly f&o expiry will keep the choppiness high across the board. Amid all, participants should continue with a cautious approach until we see some concrete sign of trend resumption.
More about intraday tips Whatsapp On 9039542248
Resistance: 18350, 18450, 18550
Support: 18250, 18150, 18050
No comments:
Post a Comment