Daily Stock Market News 24 Oct 2024
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10/24/2024


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Learn and Earn: Nifty and Bank Nifty Analysis β Whatβs Next for Investors?
In todayβs fast-paced world of stock market trading, staying informed and ahead of the trends is crucial. Whether you're a seasoned investor or just starting, understanding the market dynamics can help you learn and earn. Nifty has closed in the red for three consecutive trading sessions, raising investor concerns. In this blog, we dive into the technical analysis of Nifty 50, Bank Nifty, global trends, and daily market news to help you make better investment decisions. Letβs explore the key factors influencing the market!

What is happening in the share market today?
Which stock is increasing daily?
What stock to buy tomorrow?
What is the prediction of today's share market?
Which 10 RS share is best?
Who is No. 1 in the share market?
Which share is high profit?
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What are the top 10 shares today?
Which stock is best for intraday?
What will be nifty today?
Can I buy Nifty 50 today?
Your Queries....
Nifty 50 Market Update
The Nifty 50 index has seen a consistent drop, closing 7% below its all-time high of 2677. This decline, coupled with bearish technical signals, indicates a weakening market momentum. The current trading range for Nifty is expected between 24,000 and 25,000, with a negative outlook for the short term.
For those looking to learn and earn, staying updated with daily market news is essential. The India VIX, or Fear Index, has spiked to 14.62, signalling increased volatility. FIIs have been aggressively selling off, with βΉ5685 crore worth of shares sold in the last session, while DIIs purchased just βΉ040 crore worth of shares.
Bank Nifty Overview
The Bank Nifty index is showing similar trends, with a put-call ratio for the 30th October expiry at 0.86. Bank Nifty closed at 5139, and the expected trading range today is between 50,500 and 51,500. This index, too, holds a negative bias, driven by bearish sentiments across various sectors.
Key Negative Catalysts Impacting the Market
Several global and domestic factors are contributing to the current downturn in the market. If you're aiming to earn while you learn, these are the top 5 negative catalysts to keep an eye on:
Federal Reserve Policies: Fewer-than-expected interest rate cuts are expected, tightening liquidity globally.
U.S. Political Uncertainty: The possibility of Donald Trump returning to power adds uncertainty to the market.
10-Year U.S. Bond Yields: Bond yields have risen to 4.23%, the highest since July, signalling reduced risk appetite.
Disappointing Corporate Earnings: Several Indian companies have reported lacklustre Q2 earnings, adding downward pressure to the stock market.
FII Sell-Off: FIIs have sold a significant βΉ9143 crore worth of Indian equities in October, signalling sustained selling pressure.
Learn and Earn with These Stocks
Despite a broader market downturn, some stocks have posted strong Q2 results, offering opportunities for those looking to learn and earn:
Bajaj Finance: Posted an 8% YoY increase in consolidated net profit, totalling βΉ2087 crore.
Godrej Properties: Recorded a fivefold increase in profit after tax, at βΉ35.2 crore compared to βΉ66.1 crore last year.
Get Daily Market News and Outlook
Nifty 50: Today's trading range is expected to be between 24,300 and 24,650, with support at 24,350. The bias remains negative, and investors are advised to proceed with caution.
Bank Nifty: With support at 50,500 and resistance at 51,500, this index also signals possible downside risks.
Staying updated with daily market news will not only help you earn but also learn how to navigate the stock market wisely.
Conclusion: How to Learn and Earn in a Volatile Market
In a volatile market like today, caution is key. However, long-term investors who wish to earn while they learn can look for opportunities in strong-performing stocks, keeping in mind key support and resistance levels. Stay updated with daily market news and trends to make informed decisions and capitalize on market movements.
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Open a Demat Account & Save βΉ336/Year!
Zero Platform Fees π
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Invest without hidden costs and keep more of your money. Start your journey today and enjoy hassle-free savings!
Disclaimer:
The information provided herein is intended solely for educational purposes and should not be construed as financial advice. Investing and trading in financial markets involve significant risk, and it is essential to make informed decisions. Before making any investment or trading decisions, carefully consider your financial situation, investment objectives, and risk tolerance. We strongly recommend consulting with a qualified financial advisor to assess your specific circumstances and provide personalized guidance. The content presented is based on current market conditions and is subject to change without notice. Past performance is not indicative of future results. Proceed with caution and conduct thorough research before making any financial commitments.
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