What's NEXT???

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What happened yesterday?             

Indian Market

Indian indices fell on Friday on aggressive foreign capital outflows.

Foreign portfolio investors have been directing their funds to Chinese stocks away from Indian stocks following Beijing's introduction of new stimulus packages.

At the close, the BSE Sensex slipped 662.87, or 0.8%, to 79,402.29, while the NSE Nifty 50 plunged 218.60 points, or 0.9%, to 24,180.80.

• IndusInd Bank INDUSINDBK topped the losers on Friday, with shares plunging 19%, followed by Adani Enterprises ADANIENT and Bharat Petroleum BPCL.

• Conversely, ITC ITC, Axis Bank AXISBANK and Britannia Industries BRITANNIA were the top laggards.

• In corporate news, Goldiam International GOLDIAM has begun retail operations for a lab-grown diamond jewelry store in Mumbai, under the brand name ORIGEM, according to a Friday filing with the stock exchanges.

• Meanwhile, Baazar Style Retail SSTYLEBAAZA opened a new Style Baazar store in Ayodhya, Uttar Pradesh, India, on Friday, according to a same-day disclosure with the stock exchanges.

FII net sold for -3,036.75    crores

DII net bought for +4,159.29    crores

US Market

US benchmark equity indexes closed mixed Friday as investors evaluated the latest corporate earnings and economic data.

The Dow Jones Industrial Average fell 0.6% to 42,114.4, while the Nasdaq Composite rose 0.6% to 18,518.6. The S&P 500 was little changed at 5,808.1. Utilities saw the steepest decline among sectors, while communication services led the gainers.

For the week, the Dow dropped 2.7%, while the S&P 500 lost 1%. The Nasdaq ticked up 0.2%.

• In company news, Mohawk Industries MHK shares slumped nearly 14%, the biggest drop on the S&P 500. Late Thursday, the company issued a fourth-quarter earnings outlook that fell short of Wall Street estimates.

• HCA Healthcare's HCA third-quarter results missed the Street's views Friday as Hurricane Helene impacted some of its facilities. The hospital operator said it expects a further hurricane-related hit in the ongoing quarter. The company's shares tumbled 8.9%, the third-worst performer on the S&P 500.

• McDonald's MCD saw the steepest decline on the Dow, down 3%, after US health authorities said that the number of E. coli cases potentially linked to the fast-food giant's Quarter Pounder hamburgers increased to 75 across 13 US states as of Thursday, adding that the actual number of sick people could be "much higher."

• Capri CPRI shares plunged 49% Friday following a court ruling that temporarily blocked the luxury fashion company's proposed acquisition by Coach and Kate Spade owner Tapestry TPR. Tapestry shares surged 14%, the top gainer on the S&P 500.

• Deckers Outdoor DECK was the second-best performer on the S&P 500, up 11%. The company delivered a fiscal second-quarter beat late Thursday.

• In economic news, US durable goods orders fell in September, weighed down by sharp declines in defense and civilian aircraft, according to government data.

• "Pop the hood and the September durable goods report reveals encouraging signs of life away from the gloom of nondefense aircraft orders," BMO said in a report. "Many months of brutal Boeing BA order declines have pushed nondefense aircraft orders down 43.9% from a year ago."

• US consumer sentiment in October rose to its highest level since April, while long-term inflation expectations eased, final results from the University of Michigan's Surveys of Consumers showed.

• West Texas Intermediate crude oil increased 2% to $71.6 a barrel Friday.

• Gold rose 0.3% to $2,756.10 per troy ounce, while silver was little changed at $33.8 per ounce.

What to expect today?   

• Asian market trading mixed where Japan in  +1.45% and Hong Kong -0.20%
  US Futures trading  at +0.54%

• GIFT NIFTY trading  at +0.17%, up by +41.5 points

• All the factors indicating a flat to gap up opening in the market.

NIFTY Technicals

In NIFTY high amount of call OI at 25,000 and put OI at 23,000, PCR at 0.75. NIFTY FUT indicating LONG UNWINDING . And in case of BANKNIFTY, PCR stays at 0.64 and FUT with SHORT BUILD UP.

After OCTOBER 2023, we are getting another month where a break of previous month low is happening thats in OCTOBER 2024 (only if it stays below the SEPTEMBER LOW). Still the strength of negativity haven't reduced. The FVG at 24,200 has been failed and if NIFTY FUT breaks and makes a close below 24,122.15 can push NIFTY more lower. And for an UPTREND we need a higher time FVG and current level.

INDIA VIX rose to 14.6325

 All the best for the day.