www.ganeshstock.com 1 | Page DAILY NEWS LETTER Date: 15.10.2019 Nifty Short Term Trend Nifty 50 lost around 80 percent of its intraday gains in the last hour of trade and closed off day's lows, forming a Doji kind of pattern on daily charts for October 14 session. The sell-off in Infosys (after Q2 earnings) and selected private banking & financials dragged market from intraday high, though sentiment improved due to partial US-China trade deal. Albeit Nifty50 opened the week on a buoyant note, by the end of the day, it has given up almost all the gains as intraday breakout above 11,400 appears to have whipsawed and resulted in a Doji kind of indecisive formation with somewhat long upper shadow suggesting selling pressure at higher levels. For today’s trading session, if the index slips and settles below 11,290 for at least 30 minutes then it can induce more selling pressure with initial targets placed around 11,190 while upsides shall continue to remain capped around 11,420 levels unless a decisive breakout is registered above the said level and thereafter we can expect upper levels near 11,450-11,500. Bank Nifty closed 0.39 percent higher at 28,153 and formed an Inside Bar on a daily scale as it traded in the range of the previous day session. It is finding support near to 28,000 levels while hurdles are intact at higher levels as it got stuck in the broader trading range between 27,500 to 28,800 levels from past seven trading sessions. Now Bank Nifty needs to hold above 28,250 to witness a bounce towards 28,550-28,800 while on the downside support is seen at 27,750-27,500 levels. Levels to watch R1 R2 S1 S2 Outlook for the Day Short term Outlook NIFTY 11450 11500 11290 11190 Sideways Positive BANK NIFTY 28550 28800 27750 27500 Sideways Positive USD/INR 71.35 71.58 70.95 70.70 Positive Positive
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DAILY NEWS LETTER Date: 15.10 · Capital Market – Daily Newsletter r 3 | P a g e Put Call Ratios OI Wise Volume wise TORNTPHARM 1.29 BEARISH MFSL 3.00 BEARISH DLF 1.25 BEARISH SRTRANSFIN
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www.ganeshstock.com 1 | P a g e
DAILY NEWS LETTER
Date: 15.10.2019
Nifty Short Term Trend
Nifty 50 lost around 80 percent of its intraday gains in the last
hour of trade and closed off day's lows, forming a Doji kind of
pattern on daily charts for October 14 session. The sell-off in
Infosys (after Q2 earnings) and selected private banking &
financials dragged market from intraday high, though
sentiment improved due to partial US-China trade deal. Albeit
Nifty50 opened the week on a buoyant note, by the end of the
day, it has given up almost all the gains as intraday breakout
above 11,400 appears to have whipsawed and resulted in a Doji
kind of indecisive formation with somewhat long upper shadow
suggesting selling pressure at higher levels. For today’s trading
session, if the index slips and settles below 11,290 for at least
30 minutes then it can induce more selling pressure with initial
targets placed around 11,190 while upsides shall continue to
remain capped around 11,420 levels unless a decisive breakout
is registered above the said level and thereafter we can expect
upper levels near 11,450-11,500.
Bank Nifty closed 0.39 percent higher at 28,153 and formed an
Inside Bar on a daily scale as it traded in the range of the
previous day session. It is finding support near to 28,000 levels
while hurdles are intact at higher levels as it got stuck in the
broader trading range between 27,500 to 28,800 levels from
past seven trading sessions. Now Bank Nifty needs to hold
above 28,250 to witness a bounce towards 28,550-28,800 while
on the downside support is seen at 27,750-27,500 levels.
Levels to watch
R1 R2 S1 S2 Outlook for the Day Short term Outlook
NIFTY 11450 11500 11290 11190 Sideways Positive
BANK NIFTY 28550 28800 27750 27500 Sideways Positive
USD/INR 71.35 71.58 70.95 70.70 Positive Positive
Capital Market – Daily Newsletter r
www.ganeshstock.com 2 | P a g e
Financial & Economic Wrap Up
Electric vehicle startup Tork Motors on Monday said
Ratan Tata has decided to invest an undisclosed
amount in the company. Previously, the Pune-based
company has raised funds from Bharat Forge and
Bhavish Aggarwal (Founder of Ola cabs). "In the last
few years, there has been a sea of changes in the
attitude towards electric vehicles. This industry is
changing rapidly and I place good value on the sound
logic and the approach that the team at Tork Motors
has taken".
Banks have disbursed loans worth nearly Rs 81,781
crore via the recently introduced 'loan melas' between
October 1 and October 9, a senior Finance Ministry
official said. Finance Secretary Rajeev Kumar said, "Rs
81,781 crore was disbursed in the outreach
programme. Of these, new loans accounted for Rs
34,342 crore." He added that state-run banks have
assured the government that they have sufficient
liquidity and loans can be availed based on prudential
norms.
Amid reports of ONGC's inability to derive any benefit
out of its HPCL acquisition, Oil Minister Dharmendra
Pradhan on Monday said the state-owned firm was
free to sell its stake in the oil refining and marketing
company. In its most expensive acquisition ever, Oil
and Natural Gas Corp (ONGC) last year paid Rs 36,915
crore to buy government's entire 51.11 per cent stake
in Hindustan Petroleum Corp Ltd (HPCL).
Birlasoft on October 14 said it has signed a multi-year
agreement worth $240 million (around Rs 1,700 crore)
with Invacare Corporation, wherein the C K Birla
Group firm will deliver IT-as-a-Service to the US-based
Golkonda Aluminium Extrusions Ltd-$ 18-Oct-19 Reduction of Capital 22-Oct-19
Capital Market – Daily Newsletter r
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