Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Stock Market Daily Updates: 13 Oct 2021

Going ahead, domestic factors such as macro data, Q2FY22 earnings (largely from IT majors) will dictate the trend. We suggest participants to be selective and continue with the “buy on dips” approach.

Photo Credit :

1586236418_hm79AZ_2020_04_07T040803Z_1_LYNXMPEG3606Y_RTROPTP_4_INDIA_STOCKS_1_.JPG

Dear Trader…

Indian shares closed higher on Tuesday, boosted by automobile stocks and an emergency-use nod for Bharat Biotech's COVID-19 shot in kids, with investors awaiting the country's retail inflation data due later in the day.

FII and FPIs, on Tuesday saw a net sold of Rs 278.32 crore in the cash segment. A total of Rs 7762.32 crore was sold against a total purchase of Rs 7484.00 crore. Domestic institutional investors saw a net sold of Rs 741.22 crore in the cash segment. A total of Rs 6717.43 crore was sold against a total purchase of Rs 5976.21 crore.

The recent buoyancy in the auto and banking pack, which were acting as laggards, has again fueled the momentum. Going ahead, domestic factors such as macro data, Q2FY22 earnings (largely from IT majors) will dictate the trend. Besides, global cues and movement in the currency market will also be on the radar. We suggest participants to be selective and continue with the “buy on dips” approach.


  • INDEX MOVEMENT – 13.10.2021


  • Nifty Future closed @ 18002 as on 12.10.2021

Dear Traders,

Nifty Future has resistance at 18088 – 18108 Point; above which other resistance levels are at 18133 - 18188 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 17970 – 17909 Point; below17909 Point, other support levels are at 17888 – 17808 Point.

I am positive for the next bullish trend only above @ 18108 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 @ 18108 Point, again then the upper side target is quite high and it may touch @ 18188 Point in the short term.


  • Bank Nifty Future closed @ 38588 as on 12.10.2021

Dear Traders,

Bank Nifty Future has resistance at 38676 – 38737 Point; above which other resistance levels are at 38808 – 39009 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 38474 – 38303 Point; below38303 Point, other support levels are at 38180 – 38008 Point.

I am positive for the next bullish trend only above @ 38808 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 @ 38808 Point, again then the upper side target is quite high and it may touch @ 39009 Point in the short term.

Ø Trading Idea for the derivative stocks….

  • KOTAK BANK @ Positive Trend @ Rs 1970 with Stoploss of Rs @ 1947 for the Target near @ Rs 2012 - 2023 in short term…..!!!
  • LARSEN & TOUBRO @ Positive Trend @ Rs 1707 with Stoploss of Rs @ 1690 for the Target near @ Rs 1744 – 1760 in short term…..!!!
  • HCL TECHNO.  @ Positive Trend @ Rs 1230 with Stoploss of Rs @ 1217 for the Target near @ Rs 1264 – 1270 in short term…..!!!
  • LUPIN LTD @ Positive Trend @ Rs 944 with Stoploss of Rs @ 934 for the Target near @ Rs 988 – 994 in short term…..!!!
  • RELIANCE IND. @ Negative Trend @ Rs 2707 with Stop loss of Rs @ 2727 for the Target near @ Rs 2646 – 2626 in short term...!!!
  • HDFC BANK @ Negative Trend @ Rs 1646 with Stop loss of Rs @ 1654 for the Target near @ Rs 1608 - 1597 in short term...!!!
  • ESCORTS LTD @ Negative Trend @ Rs 1560 with Stop loss of Rs @ 1573 for the Target near @ Rs 1497 - 1488 in short term...!!!
  • M & M @ Negative Trend @ Rs 909 with Stop loss of Rs @ 919 for the Target near @ Rs 878 – 870 in short term...!!!

Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in

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.


Tags assigned to this article:
sensex Stock Market Daily Updates

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.

More From The Author >>