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October 27, 2021 / 04:20 PM IST

Closing Bell: Nifty ends near 18,200, Sensex falls 207 pts; metals drag, PSU banks gain

On the sectoral front, metal, infra, oil & gas bank and auto indices ended in the red, while buying was seen in the PSU Bank, pharma, IT and realty names. BSE midcap and smallcap ended flat.

  • IndexPricesChangeChange%
    Sensex57,518.29411.14 +0.72%
    Nifty 5017,126.2599.80 +0.59%
    Nifty Bank36,105.1579.65 +0.22%
    Nifty 50 17,126.25 99.80 (0.59%)
    Mon, Nov 29, 2021
    Biggest GainerPricesChangeChange%
    Hindalco429.3012.30 +2.95%
    Biggest LoserPricesChangeChange%
    ONGC144.00-3.10 -2.11%
    Best SectorPricesChangeChange%
    Nifty IT35048.70442.60 +1.28%
    Worst SectorPricesChangeChange%
    Nifty Pharma13705.30-91.80 -0.67%

  • October 27, 2021 / 04:30 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    We went very close to 18350 but failed to close above it. If we are unable to do so and also fail to break 18000, the Nifty will become range bound and will trade in a sideways zone. It is a wait and watch situation and traders should avoid directional calls.

  • October 27, 2021 / 04:25 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    After a strong pullback rally, profit taking came to the fore in a volatile market and benchmark Nifty took resistance near the 18350 level. Post the muted opening, the index made a couple of attempts to clear the 18350 hurdle but due to lack of follow through buying, the markets saw technical selloff in late afternoon trades. 

    Technically, the index has formed a small bearish candle near the 18350 resistance level but at the same time, on intraday charts it has maintained higher bottom series formation. Ahead of monthly F&O expiry, volatility may continue, hence level based trading would be the ideal strategy for day traders. 

    For the bulls, 18100 would be the key support level and if the index breaches the level, there is a strong possibility of a quick intraday pullback rally up to 18300-18350 levels. On the other hand, dismissal of 18100 could possibly open another round of correction wave up to 18060-18000.

  • October 27, 2021 / 04:20 PM IST

    Ajit Mishra, VP - Research, Religare Broking

    Markets traded lackluster and lost nearly half a percent, tracking mixed cues. Initially, weak Asian markets were weighing on the sentiments and a mixed trend across sectors kept the participants guessing as the session progressed. A sharp dip in select index majors from banking, metal and energy space pushed the benchmark lower in the final hour. 

    Consequently, the Nifty settled around the 18,211 levels; down by 0.31%. The broader markets managed to outperform the index and ended in the range of 0.1-0.3%.

    Markets are closely watching earnings for cues and we’ll see the reaction to the numbers of select index majors in early trade on Thursday. Besides, volatility is expected to remain high due to the scheduled monthly derivatives expiry. Participants should continue with the stock-specific trading approach and maintain positive bias till Nifty holds 18,000 levels.

  • October 27, 2021 / 04:17 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    In the beginning of the session, the bulls attempted to stretch their arms & tried to push the bounce higher. However the index faced pressure as it neared 61.8% retracement of the recent fall. The rise in the last couple of sessions is showing overlapping structure on the hourly chart. This means that it is a part of the consolidation process. 

    On the downside, the Nifty can revisit the crucial mark of 18000 where it is expected to take support near the 20 DMA. On the higher side, today’s high of 18342 will now act as a near term barrier. Overall, the Nifty is expected to continue with the short term consolidation

  • October 27, 2021 / 04:16 PM IST

    Rahul Sharma, Co-Founder, Equity99.

    With monthly expiry tomorrow, we expect good movement in the market tomorrow. Also, tomorrow is the ex-date for the IRCTC split which has been making a good move recently. Traders are advised to trade tomorrow with strict targets & stop loss. We recommend dips to be bought in quality stocks.

    Considering the movement in the market and tomorrow`s expiry, 18160 will act as top support on breaking which 18050 levels are possible and if these levels are broken we might see 17950 levels breaching the 18k mark. On the upper side, 18280 will act as strong resistance on breaking which 18350 to 18400 levels are possible.

  • October 27, 2021 / 04:14 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    Echoing weak global sentiments, domestic indices slipped into negative terrain in today’s choppy trade. Bleeding financial stocks dragged the market despite improvements in asset quality and favourable results. Stagflation worries and flare-up in US-China tensions forced global investors to trade cautiously ahead of the announcement of another batch of Q2 corporate earnings.

  • October 27, 2021 / 03:43 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    Index opened a day with a small gap but unable to sustain on highs & showed profit booking resulting closed a day at 18210 with loss of half percent and formed again a bearish candle on the daily chart. 

    Index has formed a strong hurdle zone near 18325 zone and trading below said levels, we may see some more profit booking but if managed to cross said levels decisively then next move towards 18500-18600 zone can’t rule out. So fresh long would be suggested above 18325 zone and on the other hand immediate support is coming near 18150-18000 zone, also long traders can trail there stop out below 18k mark.

  • October 27, 2021 / 03:35 PM IST

    Market Close: Benchmark indices erased the opening gains in the final hour and ended lower with Nifty below 18200.

    At close, the Sensex was down 206.93 points or 0.34% at 61143.33, and the Nifty was down 57.40 points or 0.31% at 18211.00. About 1672 shares have advanced, 1378 shares declined, and 109 shares are unchanged.

    Asian Paints, UPL, Divis Labs, Infosys and Cipla were among the major Nifty gainers. Losers included Axis Bank, Bajaj Finance, ONGC, Tata Motors and Bajaj Finserv.

    On the sectoral front, metal, infra, oil & gas bank and auto indices ended in the red, while buying was seen in the PSU Bank, pharma, IT and realty names. BSE midcap and smallcap ended flat.

  • October 27, 2021 / 03:28 PM IST

    Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research:

    Our research suggests that 18200 will be an important support level for the market. If it is able to sustain the level of 18200, we can witness a positive momentum in the market, which can lead to the higher levels near 18600. 

    We have observed the momentum indicators like RSI and MACD indicating positive momentum in the market.

  • October 27, 2021 / 03:22 PM IST

    Nifty IT index rose 1 percent supported by the Mphasis, L&T Technology Services, L&T Infotech

     Nifty IT index rose 1 percent supported by the Mphasis, L&T Technology Services, L&T Infotech
  • October 27, 2021 / 03:16 PM IST

    JK Paper Q2

    JK Paper has reported 13.6 percent jumped in its Q2 net profit at Rs 118.4 crore versus Rs 104 crore and revenue was up 38.8% at Rs 999.5 crore versus Rs 720.1 crore, YoY.

    Earnings before, interest, tax, depreciation (EBITDA) was up 10% at Rs 274.8 crore and margin was at 27.5%, YoY.    

    JK Paper was quoting at Rs 233.25, up Rs 9.20, or 4.11 percent.

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