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GM

BIG WEEK FOR MARKETS
HDFC Bank nos today, crucial day for Bank Nifty
Market has been rewarding “Buy on dips” traders
Brent crude surges back above $90/bbl
Nifty IT again refusing to go down on bad earnings
Possible to see Nifty IT hit 52-week high in next 2 months
If HDFC Bank supports, Bank Nifty can also join the rally

NIFTY OUTLOOK
First support: 19635 (Friday low)
Bigger support: 19565(Oct 10 low)
First resistance: 19,805 (Friday high)
Bigger resistance: 19,843 (Series high)

BANK NIFTY OUTLOOK
First support: 44,203 (Friday low)
Bigger support: 43,796 (Series low)
First resistance: 44,563 (Friday high)
Bigger resistance: 44,710 (Series high)
Wait for HDFC Bank nos and reaction
Compulsive traders need to play the range
Bank Nifty range: 43,800-44,700

View on HDFC bank

M

GM

MARKET: SHOWING MASSIVE STRENGTH
Market refusing to go down on barrage of bad news
Market has continuously made higher highs
October series low was higher than September
Whenever market makes bottom with bad news, it stands
Matter of when and not if Nifty hits new high now
Fin Nifty expiry today, HDFC Bank and Bajaj Fin in focus
HDFC Bank ADR implied 2.5-3% gap up in domestic market
HDFC Bank nos way better than what street had feared

NIFTY OUTLOOK
Nifty has now confirmed a higher low
First support: 19,691 (Yesterday’s low)
Bigger support: 19,635 (Friday low and option base)

BANK NIFTY OUTLOOK
SBI took support at 200 DMA yesterday
ICICI Bank repeatedly taking support at 20 DMA
Axis Bank bounced back from 50 DMA
Need to see if HDFC Bank can sustain above 200 DMA
HDFC Bank’s current 200 DMA at 1543
First resistance: 44,356 (yesterday’s high)
Bigger resistance: 44,563 (Friday’s high)

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