• Indian Equity market rose on Monday and key benchmark indexes hit fresh record highs, despite weak cues from other Asian and European markets after data showed China's economic growth slowed further in the third quarter. • On the sectoral front, rally in the market was led by financial, IT, metal and oil & gas shares. • On the technical front, Nifty formed a small negative candle signaling a formation of 'Spinning Top' type candle which are mostly associated with top reversals. Hence overall chart pattern calls for caution for long positions and there is a possibility of another round of short term weakness from the higher levels. The expected weakness could be a buy in dips opportunity for the near term while a sustainable move above 18,650 is likely to nullify this negative indication. Immediate support for the market comes from the rising trendline adjoining low of 16376, 17452 which comes around 17900-18000 which further coincides with the 20EMA at around 17838. On the downside it can be expected that the corrective phase to get anchored around 17500 as it happens to be the long term 1.5 year old rising trendline marking low of Mar’20. Inability to hold the said support levels would witness around bout of profit booking towards 17150. • On the option front, maximum Put OI is at 17500 followed by 18000 strike, while maximum Call OI is at 18500 followed by 19000 strike. Call writing was seen at 18900 strike, followed by 19100 strike while Put writing was seen at 18500 strike, followed by 18400 strike. ASHIKA GROUP TECHNICAL BUILDUP • Bearish candle with increase in volume • Buy crossover in oscillators • Lower band of Bollinger exist at 17295 • Crucial moving average of 20/50 SMA are at 17820 and 17251 • 200 SMA trend deciding level exist at 15589 OUTLOOK OF THE DAY 1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704 WWW.ASHIKAGROUP.COM World Indices LTP Daily Ch (Pts) Daily Ch (%) Dow Jones 35258 -36 -0.10 Nasdaq 15021 124 0.84 S&P 500 4486 15 0.34 FTSE 100 7203 -30 -0.42 DAX 15474 -112 -0.72 Hang Seng 25685 275 1.08 Nikkei 29200 175 0.60 Sensex 61765 459 0.75 Nifty 18477 138 0.76 Commodity / Forex LTP Daily Ch (Pts) Daily Ch (%) Gold ($/Oz) 1766.10 0.40 0.02 Silver ($/Oz) 23.27 - - Brent Crude ($/bl) 84.07 -0.26 -0.31 Dollar Index 93.87 -0.09 -0.10 USD/INR 75.34 0.08 0.12 USD/YEN 114.21 -0.12 -0.10 EUR/USD 1.1621 0.0011 0.09 Support/Resistance levels for Indian Equity Indices S2 S1 CMP R1 R2 Sensex 61145 61375 61765 62170 62420 Nifty 18290 18360 18477 18600 18675 Nifty (Fut) 18310 18380 18495 18620 18695 Pivot Level Sensex 61784 Nifty 18488
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• Indian Equity market rose on Monday and key benchmark indexeshit fresh record highs, despite weak cues from other Asian andEuropean markets after data showed China's economic growthslowed further in the third quarter.
• On the sectoral front, rally in the market was led by financial, IT,metal and oil & gas shares.
• On the technical front, Nifty formed a small negative candlesignaling a formation of 'Spinning Top' type candle which aremostly associated with top reversals. Hence overall chart patterncalls for caution for long positions and there is a possibility ofanother round of short term weakness from the higher levels. Theexpected weakness could be a buy in dips opportunity for thenear term while a sustainable move above 18,650 is likely tonullify this negative indication. Immediate support for the marketcomes from the rising trendline adjoining low of 16376, 17452which comes around 17900-18000 which further coincides withthe 20EMA at around 17838. On the downside it can be expectedthat the corrective phase to get anchored around 17500 as ithappens to be the long term 1.5 year old rising trendline markinglow of Mar’20. Inability to hold the said support levels wouldwitness around bout of profit booking towards 17150.
• On the option front, maximum Put OI is at 17500 followed by18000 strike, while maximum Call OI is at 18500 followed by19000 strike. Call writing was seen at 18900 strike, followed by19100 strike while Put writing was seen at 18500 strike, followedby 18400 strike.
ASHIKA GROUP
TECHNICAL BUILDUP
• Bearish candle with increase in volume
• Buy crossover in oscillators
• Lower band of Bollinger exist at 17295
• Crucial moving average of 20/50 SMA
are at 17820 and 17251
• 200 SMA trend deciding level exist at
15589
OUTLOOK OF THE DAY
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704
WWW.ASHIKAGROUP.COM
WorldIndices
LTPDaily
Ch (Pts)Daily
Ch (%)
Dow Jones 35258 -36 -0.10
Nasdaq 15021 124 0.84
S&P 500 4486 15 0.34
FTSE 100 7203 -30 -0.42
DAX 15474 -112 -0.72
Hang Seng 25685 275 1.08
Nikkei 29200 175 0.60
Sensex 61765 459 0.75
Nifty 18477 138 0.76
Commodity/ Forex
LTPDaily
Ch (Pts)Daily
Ch (%)
Gold ($/Oz) 1766.10 0.40 0.02
Silver ($/Oz) 23.27 - -
Brent Crude ($/bl) 84.07 -0.26 -0.31
Dollar Index 93.87 -0.09 -0.10
USD/INR 75.34 0.08 0.12
USD/YEN 114.21 -0.12 -0.10
EUR/USD 1.1621 0.0011 0.09
Support/Resistance levels for Indian Equity Indices
S2 S1 CMP R1 R2
Sensex 61145 61375 61765 62170 62420
Nifty 18290 18360 18477 18600 18675
Nifty (Fut) 18310 18380 18495 18620 18695
Pivot Level
Sensex 61784
Nifty 18488
The government on Monday said that over 56.62 lakh metric tonnes of paddy
has been procured in the Kharif Marketing Season 2021-22 up to October 17 .
(BS)
The country 's exports rose by 40.5 per cent to USD 15.13 bil l ion during
October 1-14 on account of healthy performance by key sectors such as
petroleum products, engineering and chemicals , according to preliminary
data of the commerce ministry . (BS)
India and the UK on Monday held their inaugural marit ime dialogue in a
virtual format which involved exchanges on cooperat ion in the marit ime
domain and the Indo-Pacif ic , the Ministry of External Affairs said. (BS)
The International Monetary Fund (IMF) has cautioned that any tapering by
the US Federal Reserve and similar action by other central bankers would
lead to some capital f low out of India even as the country has enough foreign
exchange at the moment , amid high foreign direct and portfol io investments .
(BS)
Around 70.66 lakh domestic passengers travelled by air in the month of
September , 5 .44 per cent higher than 67 .01 lakh who travelled in August , the
country 's aviat ion regulator said on Monday. (BS)
India, the world's third-largest energy consumer, has told Saudi Arabia and
other OPEC nations that high oil prices will hurt the nascent economic
recovery the world is witnessing after the devastating pandemic and that
they have to price oil at reasonable levels , a top off icial said on Monday. (BS)
The delayed withdrawal of monsoon, coupled with flood situation in various
parts of the country , soaring fuel prices and the fest ive season demand have
all set the prices of vegetables, especially essentials such as onion and
tomato, to shoot up within a week or so. (BS)
Showing signs of recovery, housing sales across eight major cit ies registered
an annual growth of 59 per cent during July-September at 55,907 units , but
demand jumped over three-fold against the previous quarter , according to
PropTiger .com. (BS)
ASHIKA GROUP
ECONOMY
NEWS
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704
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Indian Energy Exchange to consider Bonus issue on 21st October
TTK Prest ige to consider Stock Split on 27th October
HCL Technologies said it continues to be posit ive about its products and
platform business and expects to see strong growth in the segment in the
December quarter .
Padget Electronics, a subsidiary of Dixon Technologies, and Orbic, a U.S .
based smartphone manufacturer have entered into an agreement for
manufacturing of smartphones at Padget ’s manufacturing faci l ity situated at
Noida.
HG Infra Engineering been declared as L-1 bidder by National Highways
Authority of India (NHAI) for two HAM projects .
Smartl ink Holdings subsidiary Synegra EMS has received approval from the
Government of India under the Production Linked Incentive (PLI ) Scheme for
manufacturing of telecom and networking products in India under the MSME
category .
Fair trade regulator CCI approved the acquisit ion of worldwide healthcare
BPO services of Hinduja Global by Betaine B.V.
CG Power and Industr ial Solutions has signed a binding term sheet with Evie
Real Estate to sell its property at Kanjurmarg in Mumbai, for Rs 382 crore by
March 2022.
Sunteck Realty has signed a joint development agreement to develop a new
housing project in Maharashtra on 110-acre land parcel .
In l ine with the bold reforms announced for the telecom sector , the
government has now written to telcos , including Bhart i Airtel , Vodafone Idea
and Rel iance Jio , ask ing them to convey by October 29 if they would be
opting for four-year dues moratorium.
State Bank of India has raised Rs 6,000 crore by issuing Basel I I I compliant
bonds.
ASHIKA GROUP
CORPORATE
NEWS
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ASHIKA GROUP
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704