The monthly closing week in the domestic stock market started from today and the markets closed with impressive gains. On Monday, October 27, a strong rise was seen in the market. Nifty closed 171 points higher at 25,966. Sensex closed 567 points higher at 84,779. Bank Nifty closed at 58,114, up 415 points. In the currency market, the rupee weakened by 40 paise and closed at 88.25/dollar.
Will the market strength continue?
– Strong buying trend due to support from FII and DII
– Good support from global markets too
– Positive trend regarding the possibility of a trade agreement
– Good corporate results, no accidents
Market softened after profit booking in last three sessions
In such a situation, there is a possibility of a positive conclusion today.
Why is it difficult to cross 26,000?
– 26,000 is an important psychological level
– There is also a lot of call writing at 26,000 before tomorrow’s monthly expiry.
– Call writers have open interest of 2.15 crore shares at 26,000.
Will Bank Nifty close above 58,000?
– 58,000 is the decisive level for Bank Nifty.
Open interest for both put and call options together is highest at Rs 58,000.
– There is a high possibility of Bank Nifty closing at 58,000 or slightly above.
Above which level will the rally accelerate?
– If Nifty closes above 24,950 and Bank Nifty closes above 58,250, then it will gain momentum.
– Nifty 25,700 and Bank Nifty 57,500 will increase the risk.
– Nifty 25,825-25,900 is a strong support.
– Buy mid-cap and small-cap stocks that have delivered or are expected to deliver good results.
stock market boom
voda idea
– Supreme Court hearing on AGR case completed.
– The government wants to reconsider the matter.
– Supreme Court: Government can reconsider the case.
HPCL
Oil companies are getting good gains in the hope of increasing refining margins.
Chennai Petro’s results were also impressive.
IIFL Finance
– There has been a tremendous rise in NBFC shares again.
– Our investment option was also included in the Diwali offer.
SBI Life
– The tremendous rise continued on the second day after the results.
sbi card
– Huge profit booking after the results.
Metal and realty stocks also saw gains today. Meanwhile, the pharma index witnessed slight weakness. On the Nifty, SBI Life, Tata Steel, Hindalco, TMPV, Bharti Airtel and Reliance were the top gainers, while ONGC, BEL, Kotak Bank, Dr Reddy, Bajaj Finance and Max Health were the top losers. If we look at the opening levels, the Sensex opened at 84,297, up 86 points. Nifty opened 48 points higher at 25,843. Bank Nifty opened 97 points higher at 57,796. Rupee opened with a fall of 1 paise at 87.86/dollar.
The effect of the rise in global markets is also visible on Asian markets. Nikkei jumped 800 points to its highest level ever. Talking about domestic indicators, GIFT Nifty was trading around 25,925 with a gain of 100 points. Dow futures also closed 250 points higher, indicating a strong start for the Indian market today.
US market at its all-time high
Following lower than expected inflation pressures in the US, expectations of an early interest rate cut by the Federal Reserve have strengthened. Amid these positive signs, a strong rise was seen in the US markets on Friday. The Dow Jones closed above 47,000 for the first time, while the Nasdaq rose nearly 250 points to an all-time high. The S&P 500 and Russell 2000 also closed at record levels.
Latest inflation data gave relief to the market. The US consumer price index (CPI) and headline inflation both came in below expectations, at 3% in September. This has strengthened the market sentiment that the Fed will not cut interest rates further. The softening of bond yields has further increased investor confidence in the stock markets.
