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GEPL Capital

Published on 27/10/2020 10:55:55 AM

NIFTY: 11790.80 (23.05 i.e 0.20%)
HIGH: 11818.85 LOW: 11723.00.
DYNAMIC PARAMETER: Index trading in the previous session range.
SUPPORT ZONE: 11723 (Daily low) / 11667. (16th oct low)
RESISTANCE ZONE: 11850 (Intraday resistance level)/ 11923 (Key resistance level)
ACTION: SELL NIFTY OCT FUT @ 11740 T1 11680 T2 11640 SL 11815

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Enrich Commodities India Pvt.Ltd

Published on 27/10/2020 10:35:05 AM

Technical outlook

Nifty daily chart has formed "Megaphone chart" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is expected to continue on bearish momentum based on current price action, once the same break below a key support holding near 11700. The downside rally could be testing all the way up to 11550-11400 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode. Key resistance holds near 12000. A slide to 12150 is also a possibility if the price makes or break above the current resistance level.

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Enrich Commodities India Pvt.Ltd

Published on 27/10/2020 10:34:42 AM

NIFTY MORNING OUTLOOK

Pre-Market Tuesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 11836.50 +56.75 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 declined 1.36%, while the BSE Sensex 30 index lost 1.33%.

The biggest gainers of the session on the Nifty 50 were HDFC Life Insurance Company Ltd, which rose 3.20% or 18.05 points to trade at 582.55 at the close. Nestle India Ltd added 2.57% or 408.00 points to end at 16273.45 and Kotak Mahindra Bank Ltd. was up 1.99% or 27.50 points to 1410.55 in late trade.

Biggest losers included Hero MotoCorp Ltd, which lost 6.72% or 209.05 points to trade at 2902.00 in late trade. Bajaj Auto Ltd declined 6.01% or 185.25 points to end at 2897.00 and Hindalco Industries Ltd. shed 5.29% or 9.65 points to 172.60.

The breadth, indicating the overall health of the market, 1619 fell and 975 advanced, while 171 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.23% to 74.000.

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Geojit Financial Services Ltd.

Published on 27/10/2020 10:29:27 AM

F&O OUTLOOK

Nifty outlook

FIIs were holding a bearish hand on Friday, and neither did broad market spectrum show bullish signs. Now, with Monday seeing a sell off, some more bear signs have become visible but they have not darkened the days ahead, any more than yesterday. Among put strikes, 11850 saw the highest OI shedding, while 11400 saw the highest build, signalling that the traders are clearly eyeing lower. Meanwhile, 10500 continues to hold the highest put OI. Index longs of FIIs were seen reduced by 14%, but so were the shorts, which went down by 7%. This has taken the long proportion of FIIs in the index future segment to under 60% for the first time this month, a steep step down from the Oct peak of 71%, suggesting that we are probably not in a bubble situation.

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SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 27/10/2020 10:23:51 AM

Nifty Outlook:

The directional breakout that we were seeking yesterday evolved, but having come close to the 15Oct low, without penetrating it, a pull back higher would be the first favoured move today. Such a move ideally aims for 11845, before bears re appear and weigh the prospects of 11300 or 10500. This view will be in reckoning in the coming days, but is less favoured now. Meanwhile, a successful push above 11845-11868 could revive the upside view.

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Nirmal Bang Securities Pvt Ltd

Published on 27/10/2020 10:15:34 AM

Bank Nifty:

Bank Nifty faces an immediate support around 23780 level on the downside and on a decisive close below expect a fall to 23470-23200. There is an Immediate resistance at 24270-24500 levels.

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SEBI Registration number is INH000001766

Nirmal Bang Securities Pvt Ltd

Published on 27/10/2020 10:15:18 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 11670. Any move below the same may extend the fall towards 11550-11500 mark. On the flip side 11820-11900 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 11670 and on a decisive close below expect a fall to 11550-11500 levels.

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Nirmal Bang Securities Pvt Ltd

Published on 27/10/2020 10:15:03 AM

Market Review:

Indian markets went on a southward spiral on Monday amid a broader selloff. Governments across Europe have tightened restrictions to curb an accelerating second wave of COVID-19 infections. The barometer index, the S&P BSE Sensex slumped 540 points or 1.33% at 40,145.50. The Nifty50 index fell 162.60 points or 1.36% at 11,767.75.

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Nirmal Bang Securities Pvt Ltd

Published on 27/10/2020 10:14:19 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 12000, 11900, 11800 Calls while liquidation was seen in 11800, 11900, 12000 strike Puts indicating neutral to bearish undertone in the market for the day.

* Highest OI build-up is seen at 12500 strike Call and 11500 strike Put, to the tune of 7.44mn and 5.86mn respectively

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Kedia Commodities

Published on 27/10/2020 9:30:06 AM

Wave of new COVID-19 cases crashes across U.S. and Europe as winter looms
U.S. stocks had their worst day in four weeks over the double whammy of record coronavirus cases and political deadlock in negotiations to provide more economic aid.
The United States, Russia, France and many other countries are setting records for coronavirus infections as a tidal wave of cases washes over parts of the Northern Hemisphere, forcing some countries to impose new curbs. The gloom weighed on global financial markets on Monday as surging infections clouded the economic outlook.

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