Advertisement

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

Stock Market Daily Updates: 18 Oct 2021

Bulls continued to remain in charge of Dalal Street amid volatility, setting the stage for festive season. Markets are in clearly festive mood and we are witnessing fasters’ sector rotation at play.

Photo Credit :

1451463661_zvEpXP_fund-market1.jpg

Dear Trader…

Indian equity benchmarks extended their winning run to sixth consecutive trading session and posted record closing highs yet again on Thursday. Barring auto index, buying demand was seen across the board with banking, PSU and metal stocks moving the most. After opening in the green, the markets witnessed the continuation of a positive trend.

FII and FPIs, on Thursday saw a net purchase of Rs 1681.60 crore in the cash segment. A total of Rs 8925.99 crore was sold against a total purchase of Rs 10607.59 crore. Domestic institutional investors saw a net sold of Rs 1750.59 crore in the cash segment. A total of Rs 9457.38 crore was sold against a total purchase of Rs 7706.79 crore.

Bulls continued to remain in charge of Dalal street amid volatility, setting the stage for festive season. Markets are in clearly festive mood and we are witnessing fasters sector rotation at play. IT sector was in limelight today post strong numbers from Infosys, Wipro and Mindtree. 

The earning season has started off on a strong note and needs to continue delivering strong numbers for the market to sustain the current momentum. HDFC Bank’s results on Saturday would give some direction to banking & financial stocks on Today.

  • INDEX MOVEMENT – 18.10.2021
  • Nifty Future closed @ 18355 as on 14.10.2021

Dear Traders,

Nifty Future has resistance at 18388 – 18404 Point; above which other resistance levels are at 18434 - 18474 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 18303 – 18272 Point; below18272 Point, other support levels are at 18232 – 18180 Point.

I am positive for the next bullish trend only above @ 18474 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 @ 18474 Point, again then the upper side target is quite high and it may touch @ 18505 Point in the short term.

  • Bank Nifty Future closed @ 39402 as on 14.10.2021

Dear Traders,

Bank Nifty Future has resistance at 39474 – 39570 Point; above which other resistance levels are at 39676 – 40044 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 39190 – 39009 Point; below39009 Point, other support levels are at 38808 – 38676 Point.

I am positive for the next bullish trend only above @ 40044 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 @ 40044 Point, again then the upper side target is quite high and it may touch @ 40104 Point in the short term.

Ø Trading Idea for the derivative stocks….

Ø GRASIM IND. @ Positive Trend @ Rs 1727 with Stoploss of Rs @ 1717 for the Target near @ Rs 1773 - 1780 in short term

Ø TATA STEEL @ Positive Trend @ Rs 1360 with Stoploss of Rs @ 1344 for the Target near @ Rs 1390 – 1404 in short term

Ø HCL TECHNO. @ Positive Trend @ Rs 1222 with Stoploss of Rs @ 1208 for the Target near @ Rs 1257 – 1270 in short term

Ø ADANI PORT @ Positive Trend @ Rs 797 with Stoploss of Rs @ 790 for the Target near @ Rs 833 – 840 in short term

Ø RELIANCE IND. @ Negative Trend @ Rs 2744 with Stop loss of Rs @ 2760 for the Target near @ Rs 2688 – 2670 in short term.

Ø HAVELLS INDIA @ Negative Trend @ Rs 1508 with Stop loss of Rs @ 1527 for the Target near @ Rs 1447 - 1420 in short term.

Ø INDUSIND BANK  @ Negative Trend @ Rs 1244 with Stop loss of Rs @ 1251 for the Target near @ Rs 1197 - 1180 in short term..

Ø WIPRO LTD @ Negative Trend @ Rs 737 with Stop loss of Rs @ 750 for the Target near @ Rs 696 – 680 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 stockmarket

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 >>