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NIFTY WRAP UP & FORECASTING

October 12, 2021

The BSE sensex closed the shop at 60,284 UP by 148 points and the Nifty close the day at 18,004 by adding 58 points.

On the Upside: Titan, Bajajauto, Bajajfinser, SBIn

On the downside-HCL tech, Hdfc life, Caol India, Techm

 

Tech View:- We have witnessed choppy day with positive area where; Index managed to closed above 18000 mark with gain almost 0.32%  and formed bullish candle on daily chart &Index shut at 18004 adding 58 point, Going forwards immediate resistance zone will be 18100-18200. Supports for nifty is coming near 17850-17950 zone. RSI and MACD indicating positive trend may continue.

 

European & USA markets:  @ IST 04:15 European markets were trading atNegativenote. Where the Germany’s DAX trading Down by 0.28 %, Other hand France’s CAC40 indexrunning Negativeby 0.42% where, England’s FTSE100 indexNegativeby 0.32%.

Where; wall street @ IST 04:15The DOW future contract tradingNegative 18points, S&P 500 Future [email protected]  0.25 points, Where Nasdaq100 futurePositive 27 points.

 

Global News Analysis:

 

China – Authorities from Beijing to Chennai scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic recovery. .

LONDON  -The Japanese yen held near its weakest levels versus the U.S. dollar in almost three years on Tuesday as a relentless rise in Treasury yields widened the yield advantage in favour of the greenback.

GENEVA – The World Health Organization is awaiting full clinical data on the antiviral pill made by Merck & Co Inc to treat mild-to-moderate COVID-19 patients, a WHO spokesperson said on Tuesday, a day after the company said it had applied for U.S. emergency use authorisation.

European:- shares slipped on Tuesday as investors feared that soaring commodity prices would hamper a recovery in corporate profit, with fresh signs of troubles at property developer China Evergrande also hitting confidence.