Investors are advised to keep strict stop loss to their positions - Mr. Rahul Sharma, Co-Founder, Equity99
2021-10-25 21:24:05 (Time Zone: IST)
The market today managed to close above the 18000 mark in an extremely volatile session. At close Sensex was up 145 points while Nifty was up 10 points. The banking index was only index in green after receiving good support from private banks. The midcap index was up 529 points, the Nifty banking index was up superb 868 points with ICICI Bank being the top-performing bank up 10.85%. Among the Nifty50 pack ICICI Bank was the top gainer followed by Axis Bank & ONGC while BPCL, SBI Life Insurance & Bajaj Finserv were top losers.
The market is expected to remain volatile with profit booking seen across wider markets while the underperforming banks have been showing a good move recently. We expect some movement in Bank Nifty Tomorrow as well with Axis bank & Kotak Mahindra banks set to declare their results tomorrow. The volatility in markets is expected to continue in the coming days. Investors are advised to keep strict stop loss to their positions.
Nifty 50 - Today Nifty regained the 18k mark after breaching it in early trades, for tomorrow 18050 will act as very strong support on breaching which we might see markets breaking 18k levels and touching 17950 to 17900 levels, while on the upper side 18250 will act as strong resistance on breaking which we`ll see 18350 to 18400 levels.
Bank Nifty - For bank nifty 41350 will act as strong resistance on breaking which we might see Nifty bank marching towards new all-time high after breaking 41600 levels, while 41100 will act as strong support on breaking which 40700 levels are possible.
Results tomorrow - Axis Bank, Bajaj Finance, Canara Bank, Cipla, Dr. Lal Pathlab, Kotak Mahindra Bank.
Sector in focus tomorrow - Banks, Chemicals, Realty & Automobiles.