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Stock Market Daily Updates: 27 Oct 2021

We are witnessing a sectoral move in the market. Amid all, participants should continue with a cautious approach until we see some concrete sign of trend resumption.

Photo Credit : Subhabrata Das

1459337783_YBVYmn_stockmarket-Dealing-room_SD2-870.jpg

Dear Trader…

Indian equity benchmarks extended gains to a second straight day on Tuesday, amid broad-based buying across the sectors and positive global cues. Markets staged a gap up opening, as traders got encouragement with a private report stated that the economy is likely to register a 9.5 per cent growth this fiscal over 7.3 per cent contraction last year, as the ongoing recovery is faster and more credible than earlier foreseen.

FII and FPIs, on Tuesday saw a net sold of Rs 2368.66 crore in the cash segment. A total of Rs 9660.71 crore was sold against a total purchase of Rs 7292.05 crore. Domestic institutional investors saw a net purchase of Rs 1385.41 crore in the cash segment. A total of Rs 7109.16 crore was sold against a total purchase of Rs 8494.57 crore.

Volatility in the market continues with just 1 day1 left for expiry. Realty & Metals sectors are performing well along with Banks. We are witnessing a sectoral move in the market. Amid all, participants should continue with a cautious approach until we see some concrete sign of trend resumption.


  • INDEX MOVEMENT - 27.10.2021
  • Nifty Future closed @ 18314 as on 26.10.2021..!!

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 – 18288 Point; below18288 Point, other support levels are at 18272 – 18260 Point.

I am positive for the next bullish trend only above @ 18404 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 @ 18404 Point, again then the upper side target is quite high and it may touch @ 18434 Point in the short term...!!!


  • Bank Nifty Future closed @ 41360 as on 26.10.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 41474 – 41606 Point; above which other resistance levels are at 41676 – 41707 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 41303 – 41188 Point; below41188 Point, other support levels are at 41008 – 40808 Point.

I am positive for the next bullish trend only above @ 41676 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 @ 41676 Point, again then the upper side target is quite high and it may touch @ 41707 Point in the short term...!!


Ø Trading Idea for the derivative stocks….

  • BATA INDIA @ Positive Trend @ Rs 1970 with Stoploss of Rs @ 1944 for the Target near @ Rs 2012 - 2020 in short term…..!!!
  • GRASIM IND. @ Positive Trend @ Rs 1733 with Stoploss of Rs @ 1717 for the Target near @ Rs 1767 – 1780 in short term…..!!!
  • ADANI ENT. @ Positive Trend @ Rs 1520 with Stoploss of Rs @ 1508 for the Target near @ Rs 1564 – 1577 in short term…..!!!
  • RAMCO CEMENT @ Positive Trend @ Rs 993 with Stoploss of Rs @ 986 for the Target near @ Rs 1037 – 1050 in short term…..!!!
  • INFOSYS LTD @Negative Trend @ Rs 1744 with Stoploss of Rs @ 1750 for the Target near @ Rs 1696 – 1686 in short term...!!!
  • MUTHOOT FIN. @ Negative Trend @ Rs 1566 with Stoploss of Rs @ 1575 for the Target near @ Rs 1513 - 1503 in short term...!!!
  • CIPLA LTD @ Negative Trend @ Rs 933 with Stoploss of Rs @ 940 for the Target near @ Rs 898 - 890 in short term...!!!
  • ICICI BANK @ Negative Trend @ Rs 848 with Stoploss of Rs @ 860 for the Target near @ Rs 818 – 808 in short term...!!!

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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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