According to the pivot charts, the key support level for the Nifty is placed at 11536.57, followed by 11484.83.
Amit Shah of Indiabulls Ventures said index has risen from the levels of 11,100 to 11,700 zone and few days of consolidation cannot be ruled out going ahead.
The market is expected to remain volatile in the near term, and the trend will be dictated by the on-going earning season, outcome of the state election, US-China trade deal, and development on the Brexit deal
The opening bell ceremony will be held at 6.15 pm and trading will continue for an hour up to 7.15 pm
The government is cognizant about the revival of the economy, but is taking some concrete measures to do it which is a positive sign.
Key support level for the Nifty is placed at 11,581.77. If the index starts moving up, key resistance level to watch out for is 11,713.27.
After the recovery of 600 points better trade with Bull Call spread like buying 11650 Call and selling 11800 Call, which could be a better strategy at this time to be with market momentum even at higher levels by paying less premium amount comparatively.
A healthy economy would sustain only with a further improvement to these and a place where people can completely trust the banking channels again.
Hence here are 11 stocks where brokerages initiated coverage with a buy call, which could give 10-73 percent return:
We believe that in the current scenario, 'Delta neutral with Vega and Theta diminishing strategy' should be adopted as the next week is truncated
Risk taking ability for equity investment is improving in the market with optimism over recovery in the economy led by stimulus, festive demand, good monsoon and lower interest rate
Always remember that a compensatory position added to any existing trade to aide profitability will always come at a cost and it can only restrict negative impact and not reverse it
The market will remain shut on October 21 for the Maharashtra Assembly elections
On a weekly basis, the Rupee ended lower by 12 paise at 71.14 on October 18 against the October 11 closing of 71.02.
Investors however can follow some basic principles and rules that may help them in navigating price volatility during earnings season.
The S&P BSE Sensex rose 3.07 percent while the Nifty added 3.15 percent compared to 2.7 percent gain seen in the Small-cap index, and 4.6 percent rally witnessed in the Mid-cap index, for the week ended October 18.
Currently, post the tax reforms and renewed buying interest from FII and DII have lifted the sentiments heavily and this should help the index in closing the bearish gap.
Moneycontrol Editor Santosh Nair tells Jerome Anthony what's driving stocks and decodes all that happened in the market this past week and what to look forward to in the coming week.
Mazhar Mohammad advised traders to hold their long positions with a stop below 11,553 on closing basis and should book profits close to 11,770 levels.
Market participants say a volatile stock price is a challenge to fundraising, even though the bank has been claimed that it is on track to raise funds.
Dinesh Thakkar of Angel Broking said though MF inflows this year have slowed down, he was very confident that MF inflows will pick up from here on as market sentiment improves
According to the pivot charts, the key support level for Nifty is placed at 11,484.3, followed by 11,382.3.
Mazhar Mohammad advised traders to create fresh long positions in index with a stop below 11,430 on closing basis and look for initial targets placed around 11,800.
Britain and the European Union have concluded a Brexit deal, said European Commission President Jean-Claude Juncker. The news itself removes uncertainty.
SK Growth Fund acquired 2,45,459 shares of newly listed Vishwaraj Sugar Industries at Rs 60.35 per share.