A tough fight may expect between Bulls and Bear...

WEEKLY EQUITY BULLETIN FROM 25 OCT TO 29 OCT 2021

Finally, bulls have taken a rest after a significant run-up that had taken the Nifty50 to over 18,600 levels and the BSE Sensex above the 62,000 mark for the first time. As a result, bears turned active that hammered the street and dragged down benchmark indices around 3 percent from record-high levels before settling down with around a percent loss on a week-on-week basis. The inflationary pressure reflected in quarterly earnings and rising US bond yields seems to have hit sentiment of the market that fell for four consecutive sessions till October 22.

The Nifty50 corrected 223.65 points to close at 18,114.90 and the BSE Sensex lost 484.33 points to 60,821.62. The major selling was seen in broader markets which had outperformed frontliners in the run-up. The BSE Midcap index was down more than 4 percent and Smallcap index fell more than 5 percent during the week.

Nifty Future

On the weekly basis, Nifty has Resistance around 18400, if it breaks and closes above 18400 will see an upside rally till 18750 and further to 18800 levels in days to come.

Major support around 17900, if it breaks & closes below 17900 will see sharp downside panic till 17650 and then to 17500 levels in days to come.

Intraday Levels

Nifty Future has resistance around 18200, breaks above 18200 will see intraday upside movement till 18300---18350 levels while Support around 18000, breaks below 18000 will see intraday sell-off till 17900---17850 levels on the Monday trading session.

Bank Nifty Future

On the weekly basis, Bank Nifty has Resistance around 41000, if it breaks and trades above 41000 will see an upside rally till 41650 and further to 41800 levels in upcoming trading sessions.

Major Support around 39300, if it breaks and close below 39300 will see downside fall till 38700 and further to 38500 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 40500, breaks above 40500 will see an intraday upside movement till 40700---40850 levels while Support around 40000, breaks below 40000 will see intraday sell-off till 39700---39600 levels on the Monday trading session.

Weekly Top Pick Stock

Buy DABUR FUTURE above 600 with a stop loss below 585 levels for an upside movement till 615----625 +++ levels in days to come.

Buy HINDPETRO above 330 with a stop loss below 315 levels for an upside movement till 350----365 +++ levels in days to come. *T&C Apply...