Nifty:19671.1/-140.4/-0.71%;Candle:of,Long day red; Bank Nifty:43888.7/-520.8/-1.17% Candle:of,Long day red ; HB:OF,Short day ,red,1520
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long29%FutCash;-1831;Opt85%
OI data Nifty ( max pain W19700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Hindustan Unilever, ITC, Nestle India, UltraTech Cement, Voltas, Coforge, Cyient, PVR Inox, Aarti Drugs, Agro Tech Foods, Equitas Small Finance Bank, Hatsun Agro Product, Havells India, HFCL, Indoco Remedies, Jindal Stainless, Mastek, Metro Brands, Mphasis, Ramkrishna Forgings, South Indian Bank, Tanla Platforms, Tata Coffee, Tata Communications, United Breweries, and Updater Services will be in focus ahead of quarterly earnings on October 19.
The NSE has retained Balrampur Chini Mills, Delta Corp, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX India, and SAIL to its F&O ban list for October 19. BHEL has been removed from the said list.
Market wrap up(DWM,T,N,E):After severe correction on October 18, the market needs to take support at the 19,600-19,550 area, which coincides with the 50-day EMA (exponential moving average) and upward-sloping support trendline. In case of failure, the index may break the previous week’s low of 19,480, whereas, on the higher side, the 19,750-19,850 zone will remain as a resistance for the index, experts said. After the rangebound trade with a positive bias in the previous session, the market turned negative with benchmark indices erasing all the previous day’s gains. The BSE Sensex plummeted 551 points to 65,877, while the Nifty50 plunged 140 points to 19,671 and formed a long bullish candlestick pattern on the daily timeframe with lower high, lower low formation. “A long bear candle was formed on the daily chart, which indicates a Double Top type pattern at 19,840 levels as per daily chart. The Nifty is placed within a broader high low range of 19,840-19,635 levels and is now placed at the edge of a downside breakout of the lower range,” the short-term trend of the Nifty seems to have reversed down, after showing a rangebound action. “Further weakness from here is likely to drag the Nifty down to 19,400-19,350 levels in the near term. Immediate resistance is placed at 19,750 levels,” The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices declining 0.9 percent and 0.3 percent respectively on weak breadth. About two shares declined for every rising share on the NSE.
