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Business News » India News

Stocks in focus: YES Bank, ICICI Bank, UPL, Dr Reddy's, ITC

Nifty 50 indexes have ended 7.8% down from its last expiry at 10125 levels. On the downside, the index has multiple supports placed at 9950 – 10030 on various time frames, whereas the broader positive outlook will be only above 10400 levels which are the current week high.

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Stocks in focus: YES Bank, ICICI Bank, UPL, Dr Reddy's, ITC
Today is the first day of November 2018 F&O series one can expect some positive momentum in mid-cap stocks. Image source: IANS
Written By: ZeeBiz WebTeam
Updated: Fri, Oct 26, 2018
10:24 am
Mumbai, ZeeBiz WebDesk
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Bull market or bear market?
If Nifty 50 index holds the support levels of 10030 then we could expect some bounce back, as we are trading at oversold levels. Today is the first day of November 2018 F&O series one can expect some positive momentum in mid-cap stocks.

Stocks likely to be in limelight today?
YES Bank, ITC, ICICI Bank, UPL and Dr Reddy's would be in focus

Sectors likely to impact market today?
We maintain a positive bias on Nifty IT index after a sharp correction in the October 2018 expiry. The IT index has taken a strong support near its 200-day average, placed at 13800 levels. Private sector bank would be in focus on the back of quarterly result announcement from YES Bank and ICICI Bank.

Your mid-term view?
Nifty 50 indexes have ended 7.8% down from its last expiry at 10125 levels. On the downside, the index has multiple supports placed at 9950 – 10030 on various time frames, whereas the broader positive outlook will be only above 10400 levels which are the current week high.

Watch this Zee Business video 

What drove markets on Thursday?
Nifty 50 indexes opened lower on back of weak global cues and continued to trade negatively in a range of 10080 to 10150 levels ahead of the October 2018 F&O expiry with rollover movements in individual stocks and sectors. Baring Nifty IT Index that ended flat by 0.2%, others ended lower with the highest decline in Media, Pharma, PSU Banks and Realty sector that all lost 2% each.

By: Vikas Jain
(The author is senior research analyst, Reliance Securities)

Source: DNA Money

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Bombay Stock Exchange (BSE)NiftyBSE SensexMarkets
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