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Enrich Commodities India Pvt.Ltd

Published on 30/10/2020 10:48:49 AM

NIFTY MORNING OUTLOOK

Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11642.50 -27.70 points on indicating gap down opening for the NSE.

At the close in NSE, the Nifty 50 declined 0.50%, while the BSE Sensex 30 index fell 0.43%.

The biggest gainers of the session on the Nifty 50 were Asian Paints Ltd., which rose 2.89% or 62.45 points to trade at 2222.00 at the close. Tech Mahindra Ltd added 2.20% or 17.40 points to end at 806.70 and UltraTech Cement Ltd was up 1.64% or 73.30 points to 4542.60 in late trade.

Biggest losers included Larsen & Toubro Ltd, which lost 4.97% or 48.85 points to trade at 934.00 in late trade. Titan Company Ltd declined 3.34% or 40.60 points to end at 1176.40 and Adani Port and Special Economic Zone Ltd shed 3.15% or 11.15 points to 342.50. The breadth, indicating the overall health of the market, 1491 fell and 1014 advanced, while 176 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.32% to 74.420.

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Arihant Capital Markets Ltd

Published on 30/10/2020 10:28:15 AM

DAILY MARKET UPDATE REPORT 30-10-2020

Nifty opened lower in wake of weak global clues but recovered some of its losses during the day to close in red. On the daily chart, we are observing a “Doji” candlestick pattern which suggests indecisiveness prevailing at current level. In coming trading session if Nifty trades above 11750 level then it is likely to test 11800 – 11930 levels. On the downside, 11600 - 11500 levels may act support for the day.

We still maintain our stance that 11661 the low of bearish engulfing pattern remains a make or break level on daily closing basis. If Nifty manages to hold the low of 11661 then we may see momentum towards 12000 level. At present cautiously positive approach at current level should be adopted. However, stock specific activity is likely to continue.

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Nirmal Bang Securities Pvt Ltd

Published on 30/10/2020 10:12:27 AM

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where addition in OI were seen in 11600, 11500, 11300 strike Puts and at 11700, 11600, 11500 strike Calls indicating market likely to remain range bound for the day.

* Highest OI build-up is seen at 12000 strike Call and 11000 strike Put, to the tune of 2.29mn and 4.65mn respectively.

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Nirmal Bang Securities Pvt Ltd

Published on 30/10/2020 10:11:42 AM

Bank Nifty:

Bank Nifty faces an immediate support around 23870 level on the downside and on a decisive close below expect a fall to 23620-23440. There is an Immediate resistance at 24350-24580 levels.

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Nirmal Bang Securities Pvt Ltd

Published on 30/10/2020 10:10:38 AM

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 11600. Any move below the same may extend the fall towards 11540-11470 mark. On the flip side 11740-11820 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

 

Action: Nifty has an immediate support placed at 11600 and on a decisive close below expect a fall to 11540-11470 levels.

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Nirmal Bang Securities Pvt Ltd

Published on 30/10/2020 10:10:22 AM

Market Review:

Indian markets ended with modest losses on Thursday. Trading was volatile as the October 2020 F&O contracts expired today. Barring the Nifty IT index, all other sectoral indices on the NSE ended in the red. The barometer index, the S&P BSESensex fell 172.61 points or 0.43% at 39,749.85. The Nifty 50 index lost 58.80 points or 0.50% at 11,670.80.

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Choice International Ltd

Published on 30/10/2020 9:44:37 AM

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Swastika Investmart Ltd

Published on 30/10/2020 9:43:36 AM

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LKP Securities

Published on 30/10/2020 9:31:41 AM

Sensex, Nifty likely to make pessimistic start on Friday

Indian markets settled lower on Thursday as except IT and energy, all other sectoral indices ended lower led by FMCG, pharma, metal, and auto. Today, the start of session is likely to be pessimistic following two consecutive day’s losses amid weakness in Asian peers. Traders will be concerned as the government data showed that contracting for the seventh consecutive month, the output of eight core infrastructure sectors dropped by 0.8 percent in September, mainly due to decline in production of crude oil, natural gas, refinery products and cement. The production of eight core sectors had contracted 5.1 percent in September 2019. There will be some cautiousness as the government's fiscal deficit rose to Rs 9.14 lakh crore, about 114.8 percent of the annual budget estimate, during the first six months of the current financial year, mainly on account of poor revenue realisation. The revenue realisation during the current fiscal suffered on account of the lockdown imposed by the government to check the spread of coronavirus pandemic. Besides, the World Bank said remittances to India would fall this year by nine percent to $76 billion due to the ongoing coronavirus pandemic and global economic recession. Meanwhile, according to Worldometer, coronavirus cases in India jumped to 8,088,046 with the addition of 49,281 new infections on Friday as the death toll peaked to 121,131. However,  some support may come later in the day with report that the Reserve Bank of India will conduct the second Open Market Operations (OMOs) purchase of State Developments Loans (SDLs), aggregating Rs 10,000 crore, on November 5, 2020. Traders may take note of report that Reserve Bank of India (RBI) Governor Shaktikanta Das has underlined the need for strengthening the preventive vigilance framework to increase efficiency, stressing that it was also critical for ensuring good governance. Gold related stocks will be in focus as the World Gold Council (WGC) said gold demand of India is likely to recover in the fourth quarter (Q4) after falling 30% in the previous quarter as festivals are expected to strengthen retail jewellery purchases. There will be some important earnings announcements too to keep the markets buzzing.

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LKP Securities

Published on 30/10/2020 9:27:19 AM

Index closed a day at 11671 with loss of 58 points and formed doji sort of candle on daily chart. now index has support near 11600-11550 zone which is previous breakout zone if managed to hold above said levels we may see some bounce towards immediate resistance zone of 11730-11800 zone. Nifty bank closed a day at 24092 with loss of 140 points and formed a doji candle on daily chart hinting uncertainty, support for nifty bank is coming near 23850-23600 zone and resistance is coming near 24250-24500 zone.

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