Abhijith VS
Oct 21 2024
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What happened yesterday?
What happened yesterday?
Indian Market
Indian indices snapped their three-day losing streak on Friday, helped by the gains in banking stocks. At close, the BSE Sensex rose 218.14, or 0.3%, to 81,224.75, while the NSE Nifty 50 climbed 104.20 points, or 0.4%, to 24,854.05.
Axis Bank AXISBANK topped the gainers of Friday, with shares jumping 6%, followed by Wipro WIPRO and Eicher Motors EICHERMOT.
Conversely, Infosys INFY, Asian Paints ASIANPAINT and Britannia Industries BRITANNIA were the top laggards.
In corporate news, Granules India GRANULES unit Granules Pharmaceuticals has received approval from the US Food and Drug Administration (US FDA) for Bupropion Hydrochloride Extended-Release Tablets, according to a Friday filing to the stock exchanges.
FII net sold for -5,485.70 crores
DII net bought for +5,214.83 crores
US Market
The S&P 500 and the Dow Jones Industrial Average closed at all-time highs Friday, with the former buoyed in part by a post-earnings rally in Netflix NFLX shares.
The S&P 500 rose 0.4% to 5,864.7, while the Dow gained 0.1% to 43,275.9. The Nasdaq Composite increased 0.6% to 18,489.6. Communication services led the gainers among sectors, while financials was little changed. Energy was the sole decliner.
In company news, Netflix shares jumped 11%, the top gainer on the S&P 500 and the Nasdaq. Late Thursday, the streaming giant logged higher-than-expected third-quarter financial results as its new subscriber count surpassed Wall Street's estimates.
Intuitive Surgical ISRG shares surged 10%, the second-best performer on the Nasdaq and the third-best on the S&P 500. Late Thursday, the robotic surgical systems company posted better-than-expected third-quarter results amid double-digit growth in procedure volumes.
CVS Health CVS on Friday named David Joyner as chief executive, while the healthcare giant issued a preliminary third-quarter earnings outlook that came in below the Street's estimates. The company's shares dropped 5.2%, the second-steepest decline on the S&P 500.
The US two-year yield fell 3.7 basis points to 3.95%, while the 10-year rate lost 1.5 basis points to 4.08%.
West Texas Intermediate crude oil declined 1.9% to $69.34 a barrel Friday. "Oil prices were headed for their biggest weekly loss in more than a month on worries of lower demand," D.A. Davidson said in a note to clients.
Gold rose 1.1% to $2,737.10 per troy ounce, while silver jumped 6.8% to $33.94 per ounce.
What to expect today?
What to expect today?
Asian market trading in mixed way where Japan in +0.14% and Hong Kong -0.50%
US Futures trading flat +0.09%GIFT NIFTY trading at +0.12%, up by 31 points
All the factors indicating a flat to gap up opening in the market.
NIFTY Technicals
In NIFTY high amount of call OI at 26,000 and put OI at 24,000, PCR at 0.75. NIFTY FUT indicating LONG UNWINDING week. And in case of BANKNIFTY, PCR stays at 1.26 and FUT with SHORT COVERING.
NIFTY SPOT & FUT's, monthly candle tried to break the SEP month candle low but immediately reversed and the same happpened in the weekly candle also. They tried to breakdown but immediately reversed. A trendline till 23,350 is our concern on NIFTY towards it's fall but the way it goes to the level will be very trapping because enough SUPPORTS have been created towards that level.
A 1HR candle close above 24,951 in SPOT and 25,031.90 in FUT can push NIFTY more higher. Not an FnO week both NIFTY & BANKNIFTY is not indicating a directional trend which is hard for retailers like us so be carefull.
INDIA VIX falls to 13.0375
All the best for the day.
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