Nifty Trend for Today

The 50-share NSE Nifty (Trend) it Friday's low today but managed to hold the 5650 level. Banking and financials, capital goods and auto stocks were under pressure ahead of inflation data today. Analysts on an average expect inflation to increase around 7.73 percent in September as against 7.55 percent in previous month due to hike in diesel price by Rs 5 a litre last month.

Today's inflation will be very important ahead of the Reserve Bank of India's policy meeting that is scheduled for October 30.

The BSE benchmark declined 48 points to 18,627.14 and the NSE benchmark was down 14 points to 5,662.45.

The Indian market has been subdued over the last few sessions. Jai Bala, cashthechaos.com says the market is setting up for a big decline in the medium-term.

Country's largest private sector lenders ICICI Bank and HDFC Bank were down 0.75 percent each while their rival State Bank of India was down 0.16 percent. Axis Bank, which will declare its results today, was flat.

State-run power equipment maker BHEL went down over 1 percent while engineering conglomerate Larsen & Toubro slipped 0.16 percent.

Cigarette major ITC, housing finance company HDFC and software services exporter Infosys were marginally down.

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Nifty Trend and Tips for Tomorrow

BSE Sensex ended flat today, as investors booked profits on Reliance Industries due to worries about lower refining margins, though software service exporters such as Infosys gained on hopes for more US monetary stimulus.The  30 share index of Bombay Stock Exchange, Sensex,  shut shop above the 17850 level.

The benchmark lost substantial ground post striking its 23 week’s high level, which was above the 17950. Meanwhile, Nifty added 0.05 percent to end at 5415.Earlier, the Sensex came close to the 18,000 milestone while the Nifty almost touched 5,450.The top gainers on the Sensex were Wipro up 2.77%, TCS up 2.40%, Infosys up 1.80%, HUL up 1.80% and Tata Steel up 1.60% while, RIL down 1.74%, M&M down 1.60%, L&T down 1.59%, ONGC down 1.40% and Bajaj Auto down 1.11% were the top losers in the index. 

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Nifty, Bank Nifty Trend and Technical Levels For Today

Nifty Technical Levels :

R2: 5,341.13 R1: 5,314.22 PIVOT POINT: 5,290.08 S1: 5,263.17 S2: 5,212.12

Bank Nifty Technical Levels :

R2: 10,583.92 R1: 10,523.53 PIVOT POINT: 10,483.92 S1: 10,423.53 S2: 10,323.53

Nifty can see support near 5250 to 5215. Upside 5335 and 5370 is a good resistance level for nifty. Nifty can see selling pressure near 5350 range. All major Asian markets are trading positive and Europe closed positive ,US market closed positive. Bank nifty support near 10425 and 10210 levels. Today resistance for bank nifty is 10540 and 10700.

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Nifty Trend and Tips For Tomorrow

Nifty Trend : Indian government's not taking proper economic measure is resulting in uncertainty in market. On the other hand poor performance by the Indian rupee due to absence of proper actions by the government and also Euro causing equal challenges for Indian economy. If Euro gets reduced as currency than it may create problem for Indian economy and also pressure on Indian Rupee. The responsibility of government is to manage our currency well. If proper measures are taken to manage our currency than our economy and markets will ultimately give good results.

Any good news in the economy and smart decisions taken by government can result Nifty to trade in range of 5,000-5200. More corrections can help Nifty cross the 5200 levels and can head in direction of 5300 and 5350. But if anything wrong happens markets might go down around 4850 and 4900 levels. So experts believes that Investors and traders should be very watchful at this point of time and keep eyes on government decisions and further take steps.

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Nifty Levels and Target for Today

Nifty Levels -

PP – 5123, S1 – 5102, S2 – 5075, S3 – 5055

R1 – 5149, R2 – 5169, R3 – 5196

Experts believes that markets may see rally in the near term. The market seems to be discounting a lot of bad news and there is a temporary move upwards. Investors need a lot of confidence in everything going right to see this market going above levels of 55-56 where you can feel that this is going to sustain. That looks a little hard given whatever is happening both within the country and outside. So for the moment, we are in for a rally but is this a trend change, very doubtful.

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Nifty, Bank Nifty Tips and Target For Today

Nifty Tips – Sell Nifty with strict stop loss of 5225 and target between 5080 and 5050.

Nifty Levels For Today

PP – 5094, S1 – 5020, S3 – 4994, R1 – 5140, R2 – 5166, R3 – 5213

The Nifty continued to hold the 5100 level amid choppy trade while the broader markets outperformed benchmarks. PSU oil & gas, metals, capital goods and power stocks were supporting the market whereas the fall in Infosys, ITC, Bharti, Reliance and TCS has limited the upside.

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Nifty, Bank Nifty Trend & Tips For Today

Nifty Tips : Sell Nifty below 5070 levels and stop loss of 5085 with target of around 5045-5020-4975.

Bank Nifty Tips : Sell Bank Nifty at 9620 with stop loss of 9660 and target around 9500- 9350-9250-9200.

Nifty Technical Levels For Today

S1 – 5001, S2 – 4936, S3 – 4841, R1 – 5161, R2 – 5256, R3 - 5321

Today Indian Market opened on a flat note as International rating agency has not only downgraded India's growth outlook negative but also lowered rating outlook of seven public sector companies like NTPC, SAIL and IOC. BSE Sensex trading 50 points up at 16767 while Nifty up 10 points at 5074 from the previous close. he market breadth was negative on the NSE with 831 losers against 472 gainers.

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