Nifty:18857.25/-264.9/-1.39%;Candle:OGD,Short day red; Bank Nifty:42280.15/-551.85/-1.29% Candle:OGD,Short day red ; HB:OGD,1464.Short day red,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long11%FutCash;-7702;Opt78%
OI data Nifty ( max pain W18900M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Reliance Industries, Maruti Suzuki, SBI Life Insurance Company, Bajaj Finserv, Bharat Petroleum Corporation, Cipla, Dr Reddy’s Laboratories, Union Bank of India, Indian Hotels, IRB Infrastructure Developers, M&M Financial Services, Mahindra Lifespace, Mahanagar Gas, Oberoi Realty, SBI Card and Ujjivan Small Finance Bank will release quarter
NTPC, IDFC First Bank, AU Small Finance Bank, Bharat Electronics, Greenlam Industries, JBM Auto and Macrotech Developers will announce their September quarter earnings on October 28.ly earnings scorecard on October 27.
Market wrap up(DWM,T,N,E):After the carnage on Dalal Street with the Nifty50 hitting 200-day EMA (exponential moving average of 18,830) for the first time since April this year and the formation of Three Black Crows candlestick pattern on the daily charts, the bearish pattern, will there be more correction or any possibility of bounce back given the momentum indicator RSI (relative strength index at 26.74 levels) looking oversold? According to experts, any rebound is unlikely to be sustainable in the near term given the bearish sentiment and the index can drift towards 18,600-18,500 in the coming days. “One may observe three long bear candles in the last three sessions, which is indicating a bearish three black crows’ pattern, which signals a downtrend continuation pattern for the short term,” The negative pattern like lower tops and bottoms of a larger degree is intact on the daily chart and the market finding support to form a new lower bottom of the sequence. Still, there is no indication of any bottom formation at the lows, he says. Having moved into an oversold region, there is a chance of upside bounce occurring from the lows. A decisive move below 18,800 levels could open the next downside of 18,500-18,600 levels in the near term,” Nifty has reached a support zone and is appearing oversold on the hourly charts, one can expect a pullback till 19,000–19,050, however, it is likely to be only a temporary pause in the overall downtrend. On the downside, he feels the Nifty is likely to drift towards 18,500 levels in the short term. And the intermediate pullbacks should be used as a selling opportunity, he advised. The BSE Sensex tanked over 900 points to 63,148, while on the broader markets front, the Nifty Midcap 100 index fell 1.2 percent and Smallcap 100 index was down 0.3 percent.
