On Wednesday (October 15), domestic stock markets opened in the green. After this, a strong rise was seen in the market. Today was a bumper day for the market. The market not only recovered the losses of the last two days but also closed with a significant gain.
Will there be another breakout today?
– Nifty 25330, Bank Nifty 56800 new breakout
– Nifty is stuck around 25300, Bank Nifty 56700
– It would be exciting if we close above this today
Next big targets on Nifty are 25400-25450 and 25600-24670.
Next big targets on Bank Nifty are 57000-57150 and 57450-57625.
Where is the major support in the market right now?
– 25050-25150 is a big support for Nifty
– Bank Nifty 56150-56300 is a strong support
– Nifty 25300, Bank Nifty 56625 will increase the rise.
Which sector and stock are likely to rise?
– IT stocks rise after good results
– Buying in NBFC stocks returned
– PSU banks also remain strong
– Good shopping in government companies
– Metal stocks continued to rise
– Good growth was also seen in selected oil and gas stocks
stock market boom
IIFL Finance:
– Good buy in NBFC stocks
Bank of Maharashtra:
– Results came yesterday, good progress today
In the morning the market was showing a 70% upward trend. Nifty Midcap index and Nifty IT index were up 300 points. On the Nifty 50, Jio Financial, HDFC Life, Asian Paints, SBI Life, Bajaj Finance, NTPC and Nestle India all witnessed gains. Tech Mahindra, Axis Bank, Infosys and Titan all declined.
The Sensex opened at 82,197, down 168 points compared to its previous closing level. Nifty opened 36 points lower at 25,181. Bank Nifty opened 32 points lower at 56,528. In the currency market, the rupee strengthened by 54 paise to open at 88.26/dollar.
Driven by global and domestic cues, the Indian stock market is expected to be in quite an interesting mood today. After yesterday’s sharp decline, investors are keen to see whether domestic buying and overseas cues will support the market. GIFT Nifty is up 80 points this morning and is trading near 25,280, indicating an early recovery. Japan’s Nikkei has gained 400 points, while the Hong Kong and Shanghai Composite indices are seeing a slight decline. The strength of GIFT Nifty is indicating initial improvement in domestic markets as well.
