MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: https://t.me/MarketViewTB 1
Market View for the Day:
- Today’s expiry move was news driven and the bulls had their say in the market. The market gapped up above all important 50 DMA and looks like make a move towards the 11700 levels again.
- The markets today were fueled by positive sentiment form the GST data collection news. The GST collected for the month of September was Rs. 95480 crore (for august it was 86449 crore)
- If someone would have bought at yesterday’s close, it gave a nearly 140 points of overnight gains. Post the gap up opening, the market throughout the day was stuck in a tight range of 11350 to 11420.
- All the Indices where fueled with positivity and as a result of that, all the major indices ended the day in green. Bank Nifty, Nifty Financial services and Nifty Media were the major gainers for the day.
- Bank Nifty was rather aggressive throughout the day, and the indices was able to achieve the target of 22200 and settle above it.
- The market started the day in Green and the breadth at the end of the day was firmly in favour of bulls (39 advances and 11 declines for Nifty 50)
Views for Tomorrow:
- Monday could be a day when the bulls tighten their grip on the market. Unless we have a weak global cues in the market, we could start ascend back up and make a move to 11700 levels.
- Stocks to watch out for tomorrow: RIL, TCS, Bajaj FInserv, HDFC Bank, Bandhan bank, Kotak Bank
- For Nifty, the Important level of resistance for market is around 11550 and 11700 levels and the crucial support level is 11300.The important level of resistance for Bank Nifty is around 22800 and the level of support in the market is around 21700.
Top 5 Gainers:
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Top 5 Losers
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