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NIFTY WRAP UP & FORECASTING

October 11, 2021

The BSE sensex closed the shop at 60,135 UP by 76 points and the Nifty close the day at 17,953, by adding 58 points.

On the Upside: Coalindia, Maruti, Powergrid,Tatamotor
On the downside-TCS, Techmahindra, Infy, HCL tech

Tech View:- Index touched the 18000 mark today which is all time high and as expected after that we have witnessed selling from the top and index managed to closed with gain almost 0.33% on daily and formed bullish candle on daily chart &shut at 17953 adding 58 point, Going forwards immediate & strong hurdle is coming near 18000, once cross said level can expect to see 18200 mark. Supports for nifty is coming near 17850-17900 zone. RSI and MACD indicating positive trend may continue.

European & USA markets: @ IST 04:30 European markets were trading atNegativenote. Where the Germany’s DAX trading Down by 0.53 %, Other hand France’s CAC40 indexrunning Negativeby 0.37% where, England’s FTSE100 index Positiveby 0.20%.
Where; wall street @ IST 18:15 The DOW future contract tradingNegative131points, S&P 500 Future [email protected] 23 points, Where Nasdaq100 futureNegative109 points.

Global News Analysis:

SINGAPORE- Singapore’s economy will stay on its recovery path in the third quarter but the global spread of the Delta coronavirus variant has clouded the outlook and will likely prompt the central bank to stay on hold, a Reuters poll showed.
LONDON -Oil prices rose 2% on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pick up in economic activity and restrained supplies from major produce.
Global:-AstraZeneca’s experimental COVID-19 drug has helped cut the risk of severe disease or death in a late-stage study, the British drug maker said on Monday, a boost to its efforts to develop coronavirus medicines beyond vaccines.