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Stock Market Daily Updates: 12 Oct 2021

Indian markets continue to perform strongly against other Asian peers. Investors are advised to be selective in picking their stocks and follow strict targets and stop losses.

Photo Credit :

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Dear Trader…

Indian equity benchmarks erased most of their initial gains but managed to end Monday’s session marginally in green, despite not-so-encouraging cues from the global market. After making cautious start Indian markets continue to perform strongly against other Asian peers. Investors are advised to be selective in picking their stocks and follow strict targets and stop losses.

FII and FPIs, on Monday saw a net sold of Rs 64.01 crore in the cash segment. A total of Rs 6647.36 crore was sold against a total purchase of Rs 6583.35 crore. Domestic institutional investors saw a net sold of Rs 168.19 crore in the cash segment. A total of Rs 5866.02 crore was sold against a total purchase of Rs 5697.83 crore.

Though the US funding has been extended temporarily, worries over federal government paralysis and the withdrawal of monetary support persist. Moreover as the energy crisis continues, the oil and gas prices along with power prices continue to remain elevated. China’s slowing economic growth along with debt woes continues to be a matter of concern.

  • INDEX MOVEMENT – 12.10.2021
  • Nifty Future closed @ 17975 as on 11.10.2021..!!

Dear Traders,

Nifty Future has resistance at 18008 – 18038 Point; above which other resistance levels are at 18088 - 18108 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 17933 – 17909 Point; below17909 Point, other support levels are at 17860 – 17808 Point.

I am positive for the next bullish trend only above @ 18088 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 18088 Point, again then the upper side target is quite high and it may touch @ 18108 Point in the short term...!!!

  • Bank Nifty Future closed @ 38362 as on 11.10.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 38404 – 38474 Point; above which other resistance levels are at 38530 – 38606 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 38272 – 38088 Point; below38188 Point, other support levels are at 38008 – 37808 Point.

I am positive for the next bullish trend only above @ 38606 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 38606 Point, again then the upper side target is quite high and it may touch @ 38676 Point in the short term.


Ø Trading Idea for the derivative stocks….

  • LARSEN LTD @ Positive Trend @ Rs 1707 with Stoploss of Rs @ 1686 for the Target near @ Rs 1737 - 1744 in short term…..!!!
  • INFOSYS LTD @ Positive Trend @ Rs 1660 with Stoploss of Rs @ 1644 for the Target near @ Rs 1703 – 1710 in short term…..!!!
  • CIPLA LTD @ Positive Trend @ Rs 898 with Stoploss of Rs @ 884 for the Target near @ Rs 933 – 940 in short term…..!!!
  • BERGER PAINT @ Positive Trend @ Rs 808 with Stoploss of Rs @ 801 for the Target near @ Rs 844 – 850 in short term…..!!!
  • INDIGO @ Negative Trend @ Rs 2108 with Stop loss of Rs @ 2120 for the Target near @ Rs 2037 – 2018 in short term...!!!
  • KOTAK BANK @ Negative Trend @ Rs 2002 with Stop loss of Rs @ 2012 for the Target near @ Rs 1960 - 1947 in short term...!!!
  • TECHM @ Negative Trend @ Rs 1444 with Stop loss of Rs @ 000 for the Target near @ Rs 1396 - 1388 in short term...!!!
  • LUPIN LTD @ Negative Trend @ Rs 977 with Stop loss of Rs @ 984 for the Target near @ Rs 953 – 940 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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