www.ganeshstock.com 1 | Page DAILY NEWS LETTER Date: 01.11.2019 Nifty Short Term Trend The Nifty wiped half of its gains in the last hour of trade and closed off the day's high on October 31, the expiry session for futures & options contracts, but continued upward momentum for the fifth consecutive session. Good quarterly earnings and hope of more measures from government lifted sentiment, which saw the BSE Sensex find a new high of 40,392.22 intraday. The Nifty formed a bearish candle that resembles a Doji pattern on the daily charts, as the closing was lower than the opening value. Though there are no apparent sell signals on the lower time-frame charts, indecisive formations of last two sessions in a row in which the Nifty registered negative closes on intraday basis, which is accompanied with over bought readings of momentum oscillators on lower time -frame charts warranting a pause in the ongoing momentum. For the day, if Nifty sustains above 11,850 then might see some more upside momentum until 11,920-11975 while on the lower side immediate supports can be expected near 11,800-11,750. The Bank Nifty continued its positive momentum for the fifth consecutive session and extended its gains towards 30,400 levels. However, it failed to hold its gains at higher levels and drifted towards 30,000 in the latter part of the session. The index formed a bearish candle on the daily scale as it closed below its opening levels but managed to hold near 30,000. Bank Nifty has to hold 29,750 to witness an upmove towards 30,500 then 30,800 while on the downside support is seen at 29,500 levels. Levels to watch R1 R2 S1 S2 Outlook for the Day Short term Outlook NIFTY 11920 11975 11800 11750 Sideways Positive BANK NIFTY 30500 30800 29750 29500 Sideways Positive USD/INR 71.25 71.48 70.75 70.52 Positive Positive
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www.ganeshstock.com 1 | P a g e
DAILY NEWS LETTER
Date: 01.11.2019
Nifty Short Term Trend
The Nifty wiped half of its gains in the last hour of trade and
closed off the day's high on October 31, the expiry session for
futures & options contracts, but continued upward momentum
for the fifth consecutive session. Good quarterly earnings and
hope of more measures from government lifted sentiment,
which saw the BSE Sensex find a new high of 40,392.22
intraday. The Nifty formed a bearish candle that resembles a
Doji pattern on the daily charts, as the closing was lower than
the opening value. Though there are no apparent sell signals on
the lower time-frame charts, indecisive formations of last two
sessions in a row in which the Nifty registered negative closes
on intraday basis, which is accompanied with over bought
readings of momentum oscillators on lower time -frame charts
warranting a pause in the ongoing momentum. For the day, if
Nifty sustains above 11,850 then might see some more upside
momentum until 11,920-11975 while on the lower side
immediate supports can be expected near 11,800-11,750.
The Bank Nifty continued its positive momentum for the fifth
consecutive session and extended its gains towards 30,400
levels. However, it failed to hold its gains at higher levels and
drifted towards 30,000 in the latter part of the session. The
index formed a bearish candle on the daily scale as it closed
below its opening levels but managed to hold near 30,000.
Bank Nifty has to hold 29,750 to witness an upmove towards
30,500 then 30,800 while on the downside support is seen at
29,500 levels.
Levels to watch
R1 R2 S1 S2 Outlook for the Day Short term Outlook
NIFTY 11920 11975 11800 11750 Sideways Positive
BANK NIFTY 30500 30800 29750 29500 Sideways Positive
USD/INR 71.25 71.48 70.75 70.52 Positive Positive
Capital Market – Daily Newsletter r
www.ganeshstock.com 2 | P a g e
Financial & Economic Wrap Up
Output of core infrastructure industries shrank by 5.2
per cent in September 2019 as seven of eight sectors
witnessed negative growth, according to official data
released on October 31. The eight core sectors had
expanded by 4.3 per cent in September 2018.
Production of seven sectors of coal, crude oil, natural
gas, refinery products, cement, steel, and electricity
contracted in September.
The government is planning to build 100 additional
airports, add 1,000 new routes connecting smaller
towns and establish a plane-leasing financing business
by 2024 to boost the economy, reports The Economic
Times. The NITI Aayog proposal was discussed during
an infrastructure review meeting held in mid-October.
The government's policy think-tank also proposed
increasing the strength of locally trained pilots to 600
and doubling domestic aircraft fleet to 1,200 by 2024,
the paper quoted sources as saying.
Drug firm Cadila Healthcare on Thursday said its Baddi
facility in Himachal Pradesh has received
establishment inspection report (EIR) from the US
health regulator. "The company's formulations
manufacturing facility located at Baddi, India, has
received an EIR. The United States Food and Drug
Administration (USFDA) had conducted an inspection
at the facility from July 15 to 19, 2019," Cadila
Healthcare said in a filing to BSE.
Lenders of Lavasa Corporation will on October
31 decide among three offers for the company,
including one by Haldiram Snacks, the Business
Standard reported. The other offers were made by
Pune-based builder Aniruddha Deshpande, and UV
Asset Reconstruction Company (UVARC). A consortium
comprised of Haldiram, Pioneer Factor IT
Infradevelopers, and Sansar Property, offered to
purchase 100 percent of Lavasa for Rs 2,046 crore.
Fixed deposit holders at Dewan Housing Finance
Corporation (DHFL) may have to brace for loss of
savings as KPMG’s forensic audit confirmed fund
diversions, jeopardising the company’s debt resolution
plan, Mint reported. More than 100,000 fixed deposit
(FD) holders, a large number of whom are retirees
who invested their life savings, are expected to be
impacted. As of July 6, the company had public
deposits worth Rs 6,188 crore, down from Rs
10,166.72 crore in March 2018.
Indices Performance
Index LTP Previous Close % Change
S&P BSE Sensex 40129.05 40051.87 0.19%
Nifty 50 11877.45 11844.10 0.28%
Nifty Midcap 50 4639.70 4578.85 1.33%
Nifty 500 9689.65 9647.55 0.44%
Bank Nifty 30066.25 29987.50 0.26%
Institutional Flows (Cash Segment)
Description (Rs in Cr) BUY SELL NET
FII Activity 9004.58 7133.71 1870.87
DII Activity 4886.64 5537.37 -650.73
FIIs Derivative Statistics
BUY SELL
No. of Contracts
Amount (INR. Cr.)
No. of Contracts
Amount (INR. Cr.)
Index Futures 92531 7397.28 98447 7740.87
Index Options 5312268 358636.54 5237105 351920.69
Stock Futures 564353 33944.71 550090 32576.03
Stock Options 27572 1553.63 30699 1727.08 Top OI Gainers
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