Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), negative foreign institutional investors (FIIs), and neutral sentiment, cues, the short-term trend of the Indian stock markets will be positive on Wednesday, October 27, 2021. 

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Indian equity benchmarks, Sensex and the Nifty, on Tuesday, October 26, 2021, rose more than half a per cent amid positive global cues. Sensex regained the 61,000 mark while the Nifty reclaimed the 18,200 level. The BSE Sensex climbed 383.21 points, or 0.63 per cent, to close at 61,350.26. The NSE Nifty 50 also gained 143 points, or 0.79 per cent, to finish at 18,268.40. The Bank Nifty rose 45.90 points or 0.11 per cent to end at 41,238.30.

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The broader markets outperformed the markets at the BSE with the S&P BSE MidCap rising 1.75 per cent and S&P BSE SmallCap gaining 2.20 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 27:

Day support zone on Nifty is 18,100-18,175, below that 17,950-18,050 is a strong Buy zone.

Day higher zone on Nifty is 18,300-18,375, above that 18,425-18,475 is a strong Profit booking zone.

 

Day support zone on Bank Nifty is 40,825-41,000, below that 40,525-40,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 41,350-41,500, above that 41,650-41,800 is a strong Profit booking zone.

The small day range for trading on Nifty is 18,175-18,300, while the medium and bigger day ranges are 18,100-18,375 and 18,050-18,425, respectively.

The small day range for trading on Bank Nifty is 41,000-41,350, while the medium and bigger day ranges are 40,825-41,500 and 40,525-41,800, respectively.

FIIs Index long decreased to 58% Vs 59%.

PCR at 0.98 Vs 0.82, still oversold, short-covering expected from lower levels.

India VIX down by 5% at 16.75.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 18,100.

Bank Nifty Intraday and Closing stop loss are 40,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,400.

Bank Nifty Intraday and Closing stop loss are 41,500.

For New Positions:

Buy Nifty in 18100-18175 range with a stop loss of 17,950 and target 18,250, 18,300, 18,350.

Aggressive Traders Buy Nifty with a Strict stop loss of 18,100 and target 18,300, 18,350, 18,375, 18,425, 18,475.

Sell Nifty in 18,350-18,425 range with a stop loss of 18,500 and target 18,300, 18,250, 18,200, 18,175, 18,125.

Aggressive Traders Sell Nifty with a Strict stop loss of 18,400 and target 18,200, 18,175, 18,125, 18,100, 18,050.

For New Positions:

Buy Bank Nifty in 40600-40800 range with a stop loss of 40,500 and target 41,000, 41,225, 41,350.

Aggressive Traders Buy Bank Nifty on Gap-down opening with a Strict stop loss of 40,800 and target 41,350, 41,500, 41,650, 41,800.

Aggressive Traders Sell Bank Nifty with a Strict stop loss of 41,500 and target 41,000, 40,825, 40,600, 40,525.

Sell Bank Nifty in 41,500-41,800 range with a stop loss of 42,000 and target 41,375, 41,250, 41,200, 41,000.

F&O Ban Update:

New In Ban: Canara Bank

Out Of Ban: Escorts

5 Already In Ban: Sun TV, NMDC, IB Housing, IEX, SAIL