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Stock Market Daily Updates: 28 Oct 2021

With monthly expiry, we expect good movement in the market today. Also, Traders are advised to trade with strict targets & SL. We recommend dips to be bought in quality stocks.

Photo Credit :

1575809288_yq1JW0_BSE_India.jpg

Dear Trader…

Selling which occurred in late trade mainly dragged Indian equity benchmarks lower on Wednesday. After a cautious start, markets managed to trade mostly in green terrain for the day as traders continued to buy beaten down but fundamentally strong stocks.

FII and FPIs, on Wednesday saw a net sold of Rs 1913.36 crore in the cash segment. A total of Rs 11237.16 crore was sold against a total purchase of Rs 9323.80 crore. Domestic institutional investors saw a net purchase of Rs 472.48 crore in the cash segment. A total of Rs 7513.98 crore was sold against a total purchase of Rs 7986.46 crore.

With monthly expiry, we expect good movement in the market today. Also, Traders are advised to trade with strict targets & SL. We recommend dips to be bought in quality stocks. We recommend dips to be bought in quality stocks.


  • INDEX MOVEMENT - 28.10.2021


  • Nifty Future closed @ 18215 as on 27.10.2021..!!

Dear Traders,

Nifty Future has resistance at 18232 – 18272 Point; above which other resistance levels are at 18303 - 18333 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 18133 – 18088 Point; below18088 Point, other support levels are at 18008 – 17970 Point.

I am positive for the next bullish trend only above @ 18303 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 @ 18202 Point, again then the upper side target is quite high and it may touch @ 18333 Point in the short term...!!!


  • Bank Nifty Future closed @ 40959 as on 27.10.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 40970 – 41088 Point; above which other resistance levels are at 41188 – 41272 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 40787– 40676 Point; below40676 Point, other support levels are at 40606 – 40747 Point.

I am positive for the next bullish trend only above @ 41272 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 @ 41272 Point, again then the upper side target is quite high and it may touch @ 41330 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

  • HDFC LTD @ Positive Trend @ Rs 2873 with Stoploss of Rs @ 2860 for the Target near @ Rs 2923 - 2937 in short term…..!!!
  • INFOSYS LTD @ Positive Trend @ Rs 1707 with Stoploss of Rs @ 1686 for the Target near @ Rs 1747 – 1760 in short term…..!!!
  • HCL TECHNO.  @ Positive Trend @ Rs 1160 with Stoploss of Rs @ 1144 for the Target near @ Rs 1193 – 1202 in short term…..!!!
  • M & M @ Positive Trend @ Rs 878 with Stoploss of Rs @ 871 for the Target near @ Rs 898 – 909 in short term…..!!!
  • RELIANCE IND. @ Negative Trend @ Rs 2653 with Stop loss of Rs @ 2667 for the Target near @ Rs 2606 – 2588 in short term...!!!
  • LARSEN LTD @ Negative Trend @ Rs 1808 with Stop loss of Rs @ 1818 for the Target near @ Rs 1766 - 1755 in short term...!!!
  • TECHM @ Negative Trend @ Rs 1590 with Stop loss of Rs @ 1597 for the Target near @ Rs 1547 - 1533 in short term...!!!
  • LUPIN LTD @ Negative Trend @ Rs 933 with Stop loss of Rs @ 970 for the Target near @ Rs 919 – 909 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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