Q4 RESULT ON 29 OCT 2021

1.     Adani Power     

2.     GAIL     

3.     Escorts 

4.     Dr Reddys Labs

5.     SAIL      

6.     REC       

7.     UPL       

8.     Voltas  

9.     Vedanta

NIFTY PREDICTION FOR TOMORROW 29 OCT 2021

Market ended lower for the second consecutive session on 28 October 2021 dragged by the bank, metal, realty, oil & gas, power and pharma stocks. At close, the Sensex was down 1158 points at 59984, and the Nifty was down 353 points at 17857. Markets ended as the worst performer in the Asian pack as selling intensified on the expiry day. After a weak opening, benchmark Nifty swiftly broke the important 18100 support level and retreated sharply thereafter. After a long time, the Nifty closed below 20 day SMA which is broadly negative for the market. 

NIFTY PREDICTION FOR TOMORROW 28 OCT 2021

Nifty opened Wednesday 27 october 2021 with a small gap but unable to sustain on highs & showed profit booking resulting closed a day at 18210 with loss of half percent and formed again a bearish candle on the daily chart. Benchmark indices erased the opening gains in the final hour and ended lower with Nifty below 18200. At close, the Sensex was down 207 points at 61143, and the Nifty was down 57 points  at 18211. 

NIFTY PREDICTION FOR TOMORROW 27 OCT 2021

 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.

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Resistance: 18350, 18450, 18550

Support: 18250, 18150, 18050

NIFTY PREDICTION FOR TOMORROW 26 OCT 2021

A volatile trading session ended on flat note, bears taking a breather after the recent fall. After the initial uptick, the indices failed to hold the gains and started drifting lower as the session progressed. However, a sharp surge in the select banking majors, thanks to positive earnings by the ICICI Bank, not only capped the downside but also helped the index to pare the losses. Consequently, the Nifty closed at 18125 levels. Nifty opened with an upward gap and extended its selling pressure in the first half of the session.  In the latter half, we saw some buying interest at lower levels forming a long lower shadow on the daily chart. The Nifty closed at 18125 with a gain of 10 points (0.06%), while the Sensex gained 145 points (0.24%). 

The next higher levels to be watched are around 18300 levels. Any sustainable move above 18250 levels may cause momentum towards 18300-18500 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. We expect the banking pack to remain in focus as Axis Bank and Kotak Bank will report their quarterly results on 26 oct 2021. 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.

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Resistance: 18250, 18350, 18450

Support: 18150, 18050, 17950

NIFTY PREDICTION FOR NEXT WEEK 25 OCT TO 29 OCT 2021

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WEEKLY RESISTANCE FOR NIFTY: 18350, 18450, 18550

PIVOT POINT: 18250

WEEKLY SUPPORT FOR NIFTY:  18150, 18050, 17900

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 18150, 18200, 18250

PIVOT POINT: 18100

DAILY SUPPORT FOR NIFTY:  18050, 18000, 17950

DAILY CHART FOR NIFTY

Once again the cheerful mood across the globe led to a head start new trading week at new highs for our markets. Nifty reached yet another milestone of 18600 in the initial trades. However, due to some profit booking in heavyweights, the markets not only gave up its lead; but also slipped inside the negative territory in the first hour itself. This was followed by a v-shaped recovery as we moved closer to the midsession. Everything looked as per the routine, as markets regained strength from the initial decline. But it was not done with its action yet as we witnessed a recurrence of the selling pressure at the stroke of the penultimate hour. Eventually, Nifty ended the session tad above 18400 by shedding nearly 200 points from the high. On Tuesday After hitting fresh lifetime time high indices came down & closed in red. Sensex and Nifty turned red with minutes left before the closing bell. Nifty was nearing 18400 while Sensex was down below 61700. After having touched fresh highs above 40,000, Bank Nifty index has slipped into the red to now trade at 39682. Bandhan Bank was the top laggard on the index, falling more than 4%. Sensex and Nifty scaled fresh all-time highs on 19 October 2021. Once again the cheerful mood across the globe led to a head start at new highs for our markets. Nifty reached yet another milestone of 18600 in the initial trades on Wednesday. However, due to some profit booking in heavyweights, the markets not only gave up its lead; but also slipped inside the negative territory in the first hour itself. This was followed by a v-shaped recovery as we moved closer to the midsession. Everything looked as per the routine, as markets regained strength from the initial decline. But it was not done with its action yet as we witnessed a recurrence of the selling pressure at the stroke of the penultimate hour. Eventually, Nifty ended the session tad above 18400 by shedding nearly 200 points from the high. The global markets were a bit stable and as a result, our markets opened with a decent upside gap on Thursday morning, exceeded the SGX Nifty by a fair margin. However it was merely a formality as we not only saw Nifty erasing all gains but also went on to slide below 18100 during the penultimate hour. Fortunately due to late recovery in some of the heavyweights, Nifty managed to recover fair bit of ground to conclude the weekly expiry tad below the 18200 mark. Markets remained under pressure for yet another session and lost nearly half a percent on Friday. After the initial uptick, the selling pressure resumed as the day progressed which led the Nifty to end lower by 0.3% at 18117 levels. The broader markets also traded in sync with the benchmark and both mid cap and small cap ended lower by 1% each. A mixed trend was witnessed on the sectoral front wherein realty and banking ended marginally higher while healthcare, metal and IT settled in the red.
NIFTY: A STRONG SUPPORT WILL BE @ 17900; STRONG RESISTANCE LEVEL SEEN @ 18600

Markets will react to the Reliance and ICICI Bank results in early trade on Monday. Besides, global cues and movement in crude oil prices would be actively tracked. On the benchmark front, we expect Nifty to find support around 17900 zone while 18200-18,400 zone would act as a hurdle. While traders are complaining of excessive volatility across the board, the recent fall is helping investors to accumulate quality stocks which are available at a good bargain. Immediate support for Nifty is 18000. if the market is able to sustain the level of 18000 then we can see a reversal in the market. We believe market direction in the near term will depend on Q2FY22 earnings and their management commentary, demand in festive seasons and commodity prices.

TECHNICALLY SPEAKING

Equity market in India witnessed volatility during the week ended 22nd October 2021. The improvement in high frequency domestic economy indicators continued with the further opening up of the economy and the level of vaccinations crossing the 1Bn mark.  The overall COVID data is encouraging with daily new case additions touching a 7 month low even while we remain watchful during the festival season and also for any new variants of the virus. Index closed a week at 18114 with loss of more than one percent on weekly basis and formed a dark cloud cover candle pattern on weekly chart which is bearish reversal candle pattern by nature, so if we slipped below 18k mark we may see short term reversal in index. The index has formed consecutive bearish candles throughout this week which hints bears are trying to grip the market from higher levels & which will be possible if we drag below the 18k mark in the coming week. Immediate supports for Nifty is coming near the 18k mark followed by 17950 zone and if index managed to hold above 18k mark, one can expect a swift pullback & resistance is coming near 18250-18350 zone. If the market is able to sustain the level of 18000, we can witness a reversal in the market. We have observed the momentum indicators like RSI and MACD indicating signs of reversal in the market.Going forward, market direction would likely be determined among other factors by a) demand momentum in the festive season b) movement in commodity inflation and c) mobility trends. Commentary of companies that are yet to report results of Q2FY22 and institutional flows should be other factors to watch out for market participants.

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The Nifty opened gap up only to face fresh round of selling near the 20 HMA. On the way down, it breached the level of 18050. However it received support as it approached the crucial 18000 mark.  Market witnessed selling on the third straight session on October 21 mostly dragged by IT and metal names. At Close, the Sensex was down 336 points at 60923, and the Nifty was down 88 points at 18178. Weak global cues triggered selling pressure for the third day in a row, while for one more time bears took the aggressive stance near the 18400 resistance level.

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Market extended its downward rally and was trading near day's low as heavy selling was seen in realty and metal stocks. The selloff was more significant in the broader market space where the Small Cap and Midcap index dropped over 2.5%. Other than Telecom all other indices are in the negative zone. Market witnessed sell off for a second consecutive session alongside, the long-term economy & market trend is intact due to further re-opening of the economy, low-interest cycle and fiscal & private spending. This correction will give leeway for value-buying, defensives and upcoming stocks & sectors that evolved from this new demand. At close, the Sensex was down 456 points at 61259, and the Nifty was down 152 points at 18266.

NIFTY PREDICTION FOR NEXT WEEK 18 OCT TO 22 OCT 2021

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WEEKLY RESISTANCE FOR NIFTY: 18400, 18500, 18600

PIVOT POINT: 18250

WEEKLY SUPPORT FOR NIFTY:  18150, 18050, 17900

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 18350, 18400, 18450

PIVOT POINT: 18300

DAILY SUPPORT FOR NIFTY:  18250, 18200, 18150

DAILY CHART FOR NIFTY

Its was week of new day's new highs 18300 is the new milestone of Nifty in this new week !!! Nifty started the week on a flat note and marched higher with the support from the banking heavyweights. It finally tested the 18000 mark which market participants were much awaited for. However, during the later part on Monday the nifty gave up some of the morning gains and ended around 17950 with marginal gains of about three-tenths of a percent. Nifty finally conquered the 18000 mark during the day which has been a remarkable journey post the Covid led fall in the last year. Although the IT space which has done remarkably well in this uptrend corrected Monday post the quarterly results of TCS, the banking took the charge Monday and led to markets to achieve the milestone.  On Tuesday the global markets witnessed some correction and in line with the same, the SGX Nifty hinted at a negative opening for our market. Nifty started the day marginally negative and sneaked below 17900 before noon. However, the index then recovered from the lows and rallied to end the day around the 18000 mark. Nifty continued its momentum with a gap up opening on Wednesday around 18100 mark. It maintained its positive bias throughout the day and ended with gains of almost a percent above 18150.on Thursday benchmark indices extended the record rally in the sixth consecutive session with Sensex and Nifty ended at fresh record closing high. At close, the Sensex was up 568 points at 61305, and the Nifty was up 176 points at 18338.

NIFTY: A STRONG SUPPORT WILL BE @ 17800; STRONG RESISTANCE LEVEL SEEN @ 18500

Considering the recent behavior of the market, it is pretty clear that the bulls are not willing to let loose their firm grip so easily. But we reiterate it is that sort of phase of the market, which may not be easy to participate in. We are not at all convinced trading aggressively on the long side at this moment, yes there could be odd thematic moves that can be focused on but do not want to go all guns blazing at such elevated levels. . The immediate supports for Nifty are placed around 17900, 17800 and 17700 while resistance is seen around 18500. Is is advisable to continue with a stock specific approach and trade with a watch on the above mentioned levels.

TECHNICALLY SPEAKING

Eventually Nifty ended the week around the 18300 mark, which is the highest ever close for our markets. Considering the recent behavior of the market, it is pretty clear that the bulls are not willing to let loose their firm grip so easily. But we reiterate it is that sort of phase of the market, which may not be easy to participate in. We are not at all convinced trading aggressively on the long side at this moment, yes there could be odd thematic moves that can be focused on but do not want to go all guns blazing at such elevated levels.index closed the week at 18,339 with gains of two & half percent and formed a bullish candle on the weekly chart for the second consecutive week. Now immediate supports are coming near 18,250 followed by 18,170 zone and any dip near mentioned supports zone will be again fresh buying opportunity for the overall targets of 18,500 zone. The market witnessed the continuation of a positive trend, after sustaining above the level of 18250. Research suggests that if the market sustains above the level of 18200-18250, the positive momentum to continue, leading to an upside projection till 18550-18600 level. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

HAPPY DUSSEHRA !!! ✌✌

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