Market Report 29.10.21
📰🗞📊🔮Market Report🔮📊🗞📰
📈 Market Trend📉 : Bearish 💯
💲 Dollar 💱 :📈 Green.
🛢️Oil Price🛢️: Red .
🏢 Institutional Investors : Negative 📈
FIIs sold 5142cr. DIIs bought 4342cr
🟩Nifty Support : 17644
🟥Nifty Resistance : 17709
🟩Banknifty Support : 38377
🟥Banknifty Resistance : 39340
👨💻 Tomorrow’s Plan :
🔰 Institutions still selling overall
🔰US markets Green
🔰Buy the dip ✅✅✅
🔰Cements in focus
🔰Bank nifty bearish.🙌🏻
✅™️✅ The dilemma that the last session has brought to my mind is something that you cannot probably comprehend. The exact level that I gave you was 17670 and market closed at 17671. This leads to the confusion about what will happen on Monday. Let's break it down.
Given the long bearish candles, the trend is likely to continue. This argument is again supported by the fact that we have decisively broken 21 DEMA. Unless nifty can sustain above 17800, chances of reversal are futile. Adding to that is the fact that 17644 has given enough support and generated good buying pressure but with the formation of lower highs on smaller time frames. This leads to a descending triangle formation which is again bearish.
17670 is a mathematical pivot point which would decide which way the market will go next. If we can reverse the trend from here, that's well and good. If we cannot, then we can head towards a 10% correction leading to 16740.
Veteran analysts are having the argument that market is oversold and still they are not uttering the possibility of reversal. My analysis says that it is in middle grounds and we are yet to go towards oversold territory. Possibly that is the reason they are not favoring the possibility of reversal.
Monday would be the decider in the game
☑️©️️☑️ Stock ideas shared in forum
☑️®️☑️Results on November 1: HDFC, Tata Motors, IRCTC, Aditya Birla Capital, Allcargo Logistics, Bajaj Consumer Care, Bayer Cropscience, Carborundum Universal, Chambal Fertilisers, Devyani International, Dollar Industries, Graphite India, Gravita India, IG Petrochemicals, Indian Railway Finance Corporation, Lux Industries, Nilkamal, Parag Milk Foods, The Phoenix Mills, Privi Speciality Chemicals, Punjab & Sind Bank, Relaxo Footwears, Shipping Corporation of India, SPARC, VIP Clothing, Whirlpool of India, and Windlas Biotech will release their September quarter earnings on November 1.
✔️Will update next after premarket 💯✅
✔️Have a great day💯
🇮🇳 JAI BHARAT 🇮🇳
📈 Market Trend📉 : Bearish 💯
💲 Dollar 💱 :📈 Green.
🛢️Oil Price🛢️: Red .
🏢 Institutional Investors : Negative 📈
FIIs sold 5142cr. DIIs bought 4342cr
🟩Nifty Support : 17644
🟥Nifty Resistance : 17709
🟩Banknifty Support : 38377
🟥Banknifty Resistance : 39340
👨💻 Tomorrow’s Plan :
🔰 Institutions still selling overall
🔰US markets Green
🔰Buy the dip ✅✅✅
🔰Cements in focus
🔰Bank nifty bearish.🙌🏻
✅™️✅ The dilemma that the last session has brought to my mind is something that you cannot probably comprehend. The exact level that I gave you was 17670 and market closed at 17671. This leads to the confusion about what will happen on Monday. Let's break it down.
Given the long bearish candles, the trend is likely to continue. This argument is again supported by the fact that we have decisively broken 21 DEMA. Unless nifty can sustain above 17800, chances of reversal are futile. Adding to that is the fact that 17644 has given enough support and generated good buying pressure but with the formation of lower highs on smaller time frames. This leads to a descending triangle formation which is again bearish.
17670 is a mathematical pivot point which would decide which way the market will go next. If we can reverse the trend from here, that's well and good. If we cannot, then we can head towards a 10% correction leading to 16740.
Veteran analysts are having the argument that market is oversold and still they are not uttering the possibility of reversal. My analysis says that it is in middle grounds and we are yet to go towards oversold territory. Possibly that is the reason they are not favoring the possibility of reversal.
Monday would be the decider in the game
☑️©️️☑️ Stock ideas shared in forum
☑️®️☑️Results on November 1: HDFC, Tata Motors, IRCTC, Aditya Birla Capital, Allcargo Logistics, Bajaj Consumer Care, Bayer Cropscience, Carborundum Universal, Chambal Fertilisers, Devyani International, Dollar Industries, Graphite India, Gravita India, IG Petrochemicals, Indian Railway Finance Corporation, Lux Industries, Nilkamal, Parag Milk Foods, The Phoenix Mills, Privi Speciality Chemicals, Punjab & Sind Bank, Relaxo Footwears, Shipping Corporation of India, SPARC, VIP Clothing, Whirlpool of India, and Windlas Biotech will release their September quarter earnings on November 1.
✔️Will update next after premarket 💯✅
✔️Have a great day💯
🇮🇳 JAI BHARAT 🇮🇳
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