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NIFTY WRAP UP & FORECASTING

October 25, 2021

The BSE sensex closed the shop at 60,967UP by 145 points and the Nifty close the day at 18,135 by adding20 points.

On the Upside: ICICI bank, Axis Bank, ONGC, Techm
On the downside-BPCL, BAJAFINSERV, SBILIFE, BAJAJ AUTO

Tech View:- The NSE Nifty dive below18,000-mark in intrday trades and touch a low of 17,969, finally at the end nifty settled with a profit of 20 points at 18,135on Positive note with gain of 0.12%; Where India VIX was up 0.4 %to 17.61 and formed bearish Doji sort candle on daily chart, nifty closing above strong support which is 18000 indicate we may see some buying from this level going forwards immediate resistance zone will be 18200. Supports for nifty stays at 18000.

European & USA markets: @ IST 4:15 European markets were trading at Positive note. Where the Germany’s DAX trading UPby 0.29 %, Other hand France’s CAC40 indexrunningNegativeby 0.10% where, England’s FTSE100 index Positiveby 0.49%.
Where; wall street @ IST 04:15The DOW future contract trading Positive 12 points, S&P 500 Future trading [email protected] 5.75 points, Where Nasdaq100 future Positive 41points.

Global News Analysis:

China -China said its latest Covid-19 outbreak had spread to 11 of its 23 provinces, raising the specter of fresh lockdowns as it continues with its ‘zero tolerance’ approach to the disease.
Japan and China extended a currency swap arrangement, signed in 2018, for another three years to allow the exchange of local currencies between the two central banks of up to 200 billion yuan, or 3.4 trillion yen ($386 trillion), the Bank of Japan said on Monday.
German business morale deteriorated for the fourth month running in October as supply bottlenecks in manufacturing, a spike in energy prices and rising COVID-19 infections are slowing the pace of recovery in Europe’s largest economy from the pandemic.