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NIFTY WRAP UP & FORECASTING

October 28, 2021

The BSE sensex closed the shop at 59,984 Down by 1158 points and the Nifty close the day at 17,862 by loosing348 points.

On the Upside: Indusind Bank, LT, Ultracemco, Asianpaint
On the downside- Adaniport, ITC, ONGC, Kotakbank

Tech View:- We have witnessed today Nifty and BSE broke respective physiological levels due to heavy heavy broad-based sell-off The NSE Nifty start a day with negative opening dived below 18000 mark finally ended loosing 348 points lower at 17,862on negative note with loss of almost 2% and formed bearish sort of candle on daily chart, Nifty slipped below 20 DMA, Which indicate more downside possible, going forward Support level will 17800- 17750 and resistance 18000.

European & USA markets: @ IST 4:15 European markets were trading atnegative note. Where the Germany’s DAX trading negative by 0.18 %, Other hand France’s CAC40 indexrunningPositiveby 0.50% where, England’s FTSE100 indexnegative by 0.16%.
Where; wall street @ IST 04:15 The DOW future contract tradingPositive57points, S&P 500 Future trading [email protected] 9.75 points, Where Nasdaq100 futurePositive63.25points.

Global News Analysis:

China – China Evergrande Group’s next bond payment deadline is fast approaching as investors scrutinize the developer for clues on the severity of a cash crunch that’s eroding confidence in other highly indebted peers .
German unemployment fell more than expected in October, official figures showed on Thursday, showing that companies in Europe’s largest economy were firmly on a post-pandemic hiring spree despite supply bottlenecks that have hurt manufacturers.
USA:- The U.S. economy likely grew at its slowest pace in more than a year in the third quarter as COVID-19 infections flared up, further straining global supply chains and causing shortages of goods like automobiles that almost stifled consumer spending.