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October 29, 2021

The BSE sensex closed the shop at 59,306 Down by 677 points and the Nifty close the day at 17,711 by loosing145 points.

On the Upside: Ultracemco, UPL,CIPLA,Shreecem
On the downside-Techm, NTPC, Indusindbank, Kotakbank

Tech View:- The NSE Nifty logged its second straight weekly loss, down 145 points at 17,711 we have witnessed Consistent selling by FII which put nifty on negative note with loss of almost 1% and formed bearish sort of candle on daily & weekly chart, We have seen index has shown good recovery from the 17600 level where it is close to 50 DMA. Going forward 17600-17550 will act as a strong support and 17800 will act as a resistance.

European & USA markets: @ IST 4:10 European markets were trading atnegative note. Where the Germany’s DAX trading negative by 1.14 %, Other hand France’s CAC40 indexrunningnegative by 0.69% where, England’s FTSE100 indexnegative by 0.45%.
Where; wall street @ IST 04:10The DOW future contract tradingnegative 73 points, S&P 500 Future trading negative27 points, Where Nasdaq100 futurenegative 166 points.

Global News Analysis:

HONG KONG- Developer China Evergrade Group has made an interest payment for an offshore bond before a grace period expired on Friday, two people with direct knowledge of the matter said, narrowly averting a catastrophic default for the second time in a week.
China’s factory activity likely contracted slightly in October, a Reuters poll showed on Friday, as high raw material prices and power cuts continued to pressure manufacturers in the world’s second-largest economy.
China:- toughens rules for its globally systemically important banks.