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Stock Market Daily Updates: 25 Oct 2021

On Today investors would react to Reliance and ICICI Bank results along with global cues. Powell speech today would be keen tracked too. We would suggest traders to stay safeguarded, while investors should adopt cash deployment in staggered fashion.

Photo Credit :

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Dear Trader…

Indian equity benchmarks ended in the red for the fourth consecutive day on Friday, amid volatility, due to selling pressure in heavyweights such as ITC, Maruti Suzuki and Infosys. The benchmark indices had a gap-up opening on the back of positive global cues.

FII and FPIs, on Friday saw a net sold of Rs 2697.70 crore in the cash segment. A total of Rs 8624.53 crore was sold against a total purchase of Rs 5926.83 crore. Domestic institutional investors saw a net purchase of Rs 1029.97 crore in the cash segment. A total of Rs 7010.06 crore was sold against a total purchase of Rs 8040.03 crore.

The market consolidation is likely to continue in near term given weak global cues and mixed earnings so far – affected by cost inflationary pressure and supply side issues on margin. With skyrocketing valuations, many stocks prices have moved beyond comfort zone thus leaving very little margin of safety. 

On Today investors would react to Reliance and ICICI Bank results along with global cues. Powell speech today would be keen tracked too. We would suggest traders to stay safeguarded, while investors should adopt cash deployment in staggered fashion.

  • INDEX MOVEMENT - 25.10.2021

  • Nifty Future closed @ 18144 as on 22.10.2021..!!

Dear Traders,

Nifty Future has resistance at 18188 – 18202 Point; above which other resistance levels are at 18232 - 18272 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 18088 – 18008 Point; below18008 Point, other support levels are at 17970 – 17909 Point.

I am positive for the next bullish trend only above @ 18272 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 @ 18272 Point, again then the upper side target is quite high and it may touch @ 18303 Point in the short term.

  • Bank Nifty Future closed @ 40396 as on 22.10.2021

Dear Traders,

Bank Nifty Future has resistance at 40535 – 40606 Point; above which other resistance levels are at 40737 – 40808 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 40330 – 40202 Point; below40202 Point, other support levels are at 40140 – 40044 Point.

I am positive for the next bullish trend only above @ 40808 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 @ 40808 Point, again then the upper side target is quite high and it may touch @ 41008 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

  • KOTAK BANK @ Positive Trend @ Rs 2130 with Stoploss of Rs @ 2108 for the Target near @ Rs 2183 - 2190 in short term…..!!!
  • INDIGO @ Positive Trend @ Rs 1990 with Stoploss of Rs @ 1973 for the Target near @ Rs 2064 – 2080 in short term…..!!!
  • TATA CHEMICAL @ Positive Trend @ Rs 966 with Stoploss of Rs @ 947 for the Target near @ Rs 1003 – 1012 in short term…..!!!
  • M & M @ Positive Trend @ Rs 880 with Stoploss of Rs @ 873 for the Target near @ Rs 909 – 920 in short term…..!!!
  • LARSEN LTD @ Negative Trend @ Rs 1818 with Stop loss of Rs @ 1830 for the Target near @ Rs 1780 – 1767 in short term...!!!
  • INDUSIND BANK @ Negative Trend @ Rs 1230 with Stop loss of Rs @ 1247 for the Target near @ Rs 1183 - 1175 in short term...!!!
  • LUPIN LTD @ Negative Trend @ Rs 939 with Stop loss of Rs @ 946 for the Target near @ Rs 898 - 887 in short term...!!!
  • BHARAT FORGE @ Negative Trend @ Rs 808 with Stop loss of Rs @ 818 for the Target near @ Rs 770 – 757 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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