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NIFTY WRAP UP & FORECASTING

October 26, 2021

The BSE sensex closed the shop at 61,350UP by 383 points and the Nifty close the day at 18,308 by adding182 points.

On the Upside: Tatamotor, Tatasteel, SBI Life, Titan
On the downside-Indusind Bank, ICICI Bank, Powergrid,Dr reddy

Tech View:- We have seen buying from the start of the session which put the NSE Nifty above 18300-mark and settled with a profit of 182 points at 18,308on Positive note with gain of 1%; and formed Bullish sort of candle on daily chart, nifty closing above support level 18300 indicate Positive movement may continue and going forward Support level will 18200 and resistance 18400.

Sectors:- All the indices were trading in the green , the Nifty Private Bank index, which was down 0.04 per cent.

European & USA markets: @ IST 4:15 European markets were trading at Positive note. Where the Germany’s DAX trading UPby 0.96 %, Other hand France’s CAC40 indexrunningPositiveby 0.60% where, England’s FTSE100 index Positiveby 0.69%.
Where; wall street @ IST 04:15 The DOW future contract trading Positive 122points, S&P 500 Future trading [email protected] 17.50 points, Where Nasdaq100 future Positive 84points.

Global News Analysis:

China – A jump in the number of people in China infected with bird flu this year is raising concern among experts, who say a previously circulating strain appears to have changed and may be more infectious to people.
London:- retailers reported a stronger-than-expected sales rise in October after a September slowdown but global supply chain problems reduced their stocks to the lowest level since records began in 1985, the Confederation of British Industry said.
German The German government has cut its economic growth forecast for this year to 2.6%, but lifted its estimate for next year to 4.1% as supply problems are delaying the recovery in Europe’s largest economy, two sources familiar with the decision said on Tuesday