• Indian Equity market advanced on Friday after the Reserve Bank of India ( RBI) kept the key benchmark rates unchanged for the eighth consecutive time and promised to maintain the status-quo on rates "as long as necessary to revive growth. • On the sectoral front, gains in IT, oil & gas and PSU banking shares lifted the market. Broader markets also rose, with the smallcap index outperforming the headline gauges by rising 1.2 percent. • On the technical front, Nifty formed a small bullish candle which resembles Doji kind of pattern formation on the daily charts while formed bullish candle on the weekly scale as it gained 2 percent. Immediate support for the market comes from the 23.6% retracement (High: 17947; Low: 16376) and the 20EMA at around 17575. Recently the said support proved crucial and witnessed the necessary pullback. Hence sustaining above which would keep the positive momentum intact. Immediate resistance zone for the market is around 17800-17850 and until and unless the Index is able scale above the said resistance point, Index is likely to grind amidst the consolidative range of 17400-17900. On the downside it can be expected that the corrective phase to get anchored around 17350-17400 mark as it happens to be the 38.2% retracement (Low: 16376; High: 17947). Inability to hold the said support zone would witness around bout of profit booking towards 17150. On the upside Index sustaining above 17,800 levels may cause momentum towards 18,000-18,200 levels, • On the option front, maximum Put OI is at 17000 followed by 17500 strike, while maximum Call OI is at 18000 followed by 17800 strike. Call writing was seen at 18200 strike, followed by 17900 strike while Put writing was seen at 17900 strike, followed by 18500 strike. ASHIKA GROUP TECHNICAL BUILDUP • Doji candle with decrease in volume • Sell crossover in oscillators • Lower band of Bollinger exist at 17326 • Crucial moving average of 20/50 SMA are at 17648 and 17029 • 200 SMA trend deciding level exist at 15474 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 34746 -8 -0.03 Nasdaq 14579 -74 -0.51 S&P 500 4391 -8 -0.19 FTSE 100 7095 17 0.25 DAX 15206 -44 -0.29 Hang Seng 25227 390 1.57 Nikkei 28487 443 1.60 Sensex 60059 381 0.64 Nifty 17895 104 0.59 Commodity / Forex LTP Daily Ch (Pts) Daily Ch (%) Gold ($/Oz) 1757.20 -0.20 -0.01 Silver ($/Oz) 22.67 -0.04 -0.15 Brent Crude ($/bl) 82.84 0.45 0.55 Dollar Index 94.06 -0.04 -0.05 USD/INR 74.99 0.20 0.28 USD/YEN 112.20 -0.04 -0.04 EUR/USD 1.1576 0.0007 0.06 Support/Resistance levels for Indian Equity Indices S2 S1 CMP R1 R2 Sensex 59580 59745 60059 60240 60570 Nifty 17750 17800 17895 17950 18050 Nifty (Fut) 17755 17805 17900 17955 18055 Pivot Level Sensex 60034 Nifty 17892
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• Indian Equity market advanced on Friday after the Reserve Bankof India ( RBI) kept the key benchmark rates unchanged for theeighth consecutive time and promised to maintain the status-quoon rates "as long as necessary to revive growth.
• On the sectoral front, gains in IT, oil & gas and PSU bankingshares lifted the market. Broader markets also rose, with thesmallcap index outperforming the headline gauges by rising 1.2percent.
• On the technical front, Nifty formed a small bullish candle whichresembles Doji kind of pattern formation on the daily charts whileformed bullish candle on the weekly scale as it gained 2 percent.Immediate support for the market comes from the 23.6%retracement (High: 17947; Low: 16376) and the 20EMA at around17575. Recently the said support proved crucial and witnessed thenecessary pullback. Hence sustaining above which would keepthe positive momentum intact. Immediate resistance zone for themarket is around 17800-17850 and until and unless the Index isable scale above the said resistance point, Index is likely to grindamidst the consolidative range of 17400-17900. On the downsideit can be expected that the corrective phase to get anchoredaround 17350-17400 mark as it happens to be the 38.2%retracement (Low: 16376; High: 17947). Inability to hold the saidsupport zone would witness around bout of profit bookingtowards 17150. On the upside Index sustaining above 17,800 levelsmay cause momentum towards 18,000-18,200 levels,
• On the option front, maximum Put OI is at 17000 followed by17500 strike, while maximum Call OI is at 18000 followed by17800 strike. Call writing was seen at 18200 strike, followed by17900 strike while Put writing was seen at 17900 strike, followedby 18500 strike.
ASHIKA GROUP
TECHNICAL BUILDUP
• Doji candle with decrease in volume
• Sell crossover in oscillators
• Lower band of Bollinger exist at 17326
• Crucial moving average of 20/50 SMA
are at 17648 and 17029
• 200 SMA trend deciding level exist at
15474OUTLOOK 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 34746 -8 -0.03
Nasdaq 14579 -74 -0.51
S&P 500 4391 -8 -0.19
FTSE 100 7095 17 0.25
DAX 15206 -44 -0.29
Hang Seng 25227 390 1.57
Nikkei 28487 443 1.60
Sensex 60059 381 0.64
Nifty 17895 104 0.59
Commodity/ Forex
LTPDaily
Ch (Pts)Daily
Ch (%)
Gold ($/Oz) 1757.20 -0.20 -0.01
Silver ($/Oz) 22.67 -0.04 -0.15
Brent Crude ($/bl) 82.84 0.45 0.55
Dollar Index 94.06 -0.04 -0.05
USD/INR 74.99 0.20 0.28
USD/YEN 112.20 -0.04 -0.04
EUR/USD 1.1576 0.0007 0.06
Support/Resistance levels for Indian Equity Indices
S2 S1 CMP R1 R2
Sensex 59580 59745 60059 60240 60570
Nifty 17750 17800 17895 17950 18050
Nifty (Fut) 17755 17805 17900 17955 18055
Pivot Level
Sensex 60034
Nifty 17892
Soyabean production is est imated to rise by 14 per cent to near ly 119 lakh
tonnes this year on higher sowing area and l ikely improvement in
productivity , according to industry body SOPA. (BS)
Aggressive marketing of products, t imely implementation of free trade
agreements that are under negotiat ions and affordable credit to MSME
players would help in taking the country 's merchandise exports to USD 500
bil l ion in the next f inancial year , according to exporters . (BS)
India wil l await the final outcome of the global tax deal before taking call on
withdrawing the equalisat ion levy (EL) on digital companies such as Google,
Facebook and Netfl ix , which have no physical presence in India, sa id two
off icial privy to the development . (BS)
Power consumption dipped by nearly 2 per cent or by 72 mill ion units (MU)
to 3,828 MU on Saturday compared to 3,900 MU on Friday, showing slight
improvement in supply situation across the country amid coal shortage
crisis , according to the power ministry data. (BS)
The hotel industry demand has recovered at a sharper pace post Covid 2 .0
than it did after last year 's lockdown . Occupancies and average room rates
(ARRs) have seen a substantial jump, especial ly in luxury hotels and resort
destinations, where they have breached pre-Covid levels . (BS)
West Bengal may remain unscathed by the looming power crisis facing many
states in the country even as it faces higher demand during Durga Puja, the
biggest fest ival of the state . (BS)
India's new liberalised petrol pump licensing norms allow sett ing up of EV
charging stations and CNG outlets even before the start of petrol and diesel
sales, the government has stated. (BS)
The Department of Food and Public Distr ibution in a landmark decision has
imposed stock limits on Edible Oils and Oilseeds to soften the prices of
edible oils in the domestic market for a period up to March 31 , 2022,
informed the Ministry of Consumer Affairs , Food, and Public Distr ibution on
Sunday. (BS)
ASHIKA GROUP
ECONOMY
NEWS
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704
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Aditya Bir la Sun Life AMC will make its Dalal Street debut on Monday . It wi l l
be the fourth player from the industry to be listed on the bourses . Issue
price f ixed at Rs. 712 per share.
Reliance Industr ies announced acquisit ion of Norway-based solar panel
manufacturer REC Solar Holdings for USD 771 mill ion as the oil-to-retail
conglomerate made its f irst move towards creating a mult i-bil l ion-dol lar
clean energy portfol io to become net carbon zero by 2035.
As part of deleveraging its stretched balance-sheet , the Shapoorj i Pallonj i
Group is divest ing its second key asset within a month by sell ing 40 per cent
stake in Sterl ing & Wilson Solar to Rel iance Industr ies for Rs 1 , 100 crore
through a mult i-stage transaction.
To maximize shareholder value, Vakrangee announced the demerger of both
the businesses (Vakrangee Kendra Business as wel l as E-Governance &
IT/ITES Business) into a separate entity .
Macrotech Developers has sold propert ies worth Rs 3,000 crore during April -
September on better demand, and looks to double its sales bookings in the
second half to reach the Rs 9,000 crore target this f iscal year .
Ultratech Cement has emerged as preferred bidder for a l imestone block in
Madhya Pradesh . Ramstahn Ghunchihai l imestone mine, which has reserves
of 209.77 mill ion tonnes, was auctioned in the current f iscal .
Adani Total Gas has signed a definit ive Agreement for col laborat ing on the
establishment of a bio-conversion plant with a design capacity of about
three hundred and fifty (350) tonnes per day of feed processing.
Gland Pharma has received a tentative nod from the US health regulator for
generic Sugammadex injection, which is indicated for reversing the ef fects
of the muscle relaxants rocuronium bromide and vecuronium bromide given
to patients during surgery .
Texmaco Rai l & Engineering has f ixed rights issue price at Rs 23 per share
and rights entit lement ratio at 2 |3 (two equity shares for every seven shares
held) . The issue will open on November 1 and close on November 15.
ASHIKA GROUP
CORPORATE
NEWS
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704
WWW.ASHIKAGROUP.COM
ASHIKA GROUP
1008, RAHEJA CENTRE, 214, NARIMAN POINT, MUMBAI-400 021, PH- 022 – 6611 1700, EXTN. - 704
WWW.ASHIKAGROUP.COM
• *Nazara Technologies Ltd : Whv-Eam International Small Cap EquityFund Buy 214823 Shares @ Rs. 3011.27
• *Consolidated Finvest & Ho : India Opportunities Growth Fund Ltd -Pinewood Strategy Buy 410000 Shares @ Rs. 171.19