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NIFTY WRAP UP & FORECASTING

October 20, 2021

The BSE sensex closed the shop at 61,259 DOWN by 456 points and the Nifty close the day at 18,282 by loosing136 points.

On the Upside: Bhartiairtel, SBIN, TATAMOTORS, INDUSIND
On the downside-Hindalco, BPCL, Titan, Bajajfinserv

Tech View:- The NSE Nifty touched a high of 18,458, and a low of 18,209, and finally settled with a loss of 136 points at 18,282 we have seen profit booking from the top ; Where index is managed to closed on negative note with loss of 0.74% and formed bearish sort candle on daily chart, which clearly indicate down trend may continue Going forwards immediate resistance zone will be 18350-18400. Supports for nifty is coming near 18200-18150 zone.

European & USA markets: @ IST 04:00 European markets were trading atNegativenote. Where the Germany’s DAX trading UPby 0.05 %, Other hand France’s CAC40 indexrunning Negativeby 0.07% where, England’s FTSE100 index Positiveby 0.04%.
Where; wall street @ IST 04:00 The DOW future contract trading Positive 2 points, S&P 500 Future trading Negative @ 1 points, Where Nasdaq100 future Positive 6points.

Global News Analysis:

China -China reported a fourth day of new locally transmitted COVID-19 cases in a handful of cities across China, prompting alarmed local governments to double down on efforts to track potential carriers amid the country’s zero-tolerance policy.
Germany’s federal network agency on Wednesday curbed the permitted return on new infrastructure for power and gas networks in the years to 2029 in a move aimed at protecting consumers from higher energy bills.
Asia:-The International Monetary Fund on Tuesday slashed this year’s economic growth forecast for Asia and warned that a fresh wave of COVID-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook.