Save Big, Invest Smart!

Open a Demat Account & Save ₹336/Year!

• Zero Platform Fees 🆓

• Zero AMC Charges 💸

Invest without hidden costs and keep more of your money. Start your journey today and enjoy hassle-free savings!

Market Analysis: What Does the Market Look Like Today? | Final Trading Day of Samvat 2080

The final trading day of Samvat 2080 is here, and it has been an exciting year in the financial markets. Nifty hit an all-time high, global cues are affecting market trends, and key events in the U.S. and India are influencing investor sentiment. In this blog, we will take a deep dive into the Nifty and Bank Nifty technical analysis, the impact of institutional investors, and upcoming global factors that could shape the markets. Let’s get into the details.

• 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?

• Which stock grows very fast?

• What are the top 10 shares today?

• Which stock is best for intraday?

• What will be nifty today?

• Can I buy Nifty 50 today?

• Learn and Earn in Stock Market

• Nifty and Bank Nifty Analysis

• Global Market Trends Impacting India

• Stock Market Tips for Beginners

• Best Sectors to Invest in India

• Stock Market Updates October 2024

• How to Earn from Stock Market

Your Queries....

Highlights of Samvat 2080: Record Gains for Nifty

Samvat 2080 has been an impressive year for Indian markets, with Nifty reaching its all-time high of 26,277.35. This surge resulted in a remarkable 24% gain over the year. As we bid farewell to Samvat 2080 on this positive note, investors are now looking forward to what the next year holds for the stock market.

In this last trading day, it is essential to start with a strategy, carefully analyze key market indicators, and keep an eye on significant global and domestic events.

Market Sentiment: Risky but Insightful

Today's market sentiment appears to be risky. Technical indicators suggest that Nifty's near-term trading range could be between 23,500 to 25,000, while the Bank Nifty's trading range is projected to be 51,000 to 52,100.

Foreign Institutional Investors (FIIs) & Domestic Institutional Investors (DIIs) Impact

• FIIs have been heavy sellers, offloading shares worth ₹4,614 crore in the last session.

• On the other hand, DIIs were buyers, purchasing shares worth ₹4,518 crore.

This tug-of-war between FIIs and DIIs adds further volatility to the market, keeping the outlook slightly negative for the short term.

Global Cues: U.S. Job Report & Elections

International factors will play a significant role in shaping today’s market movements. Key events to watch are:

1. U.S. Jobs Report – Releasing this Friday, 1st November, the U.S. jobs report is expected to have major implications on bond yields and equity markets. Investors globally will closely monitor this report as it could influence market direction.

2. U.S. Elections – Scheduled for 5th November, the U.S. elections are another major factor contributing to market volatility. Concerns over inflation, rising debt, and wider fiscal deficits are key issues that any new administration will have to tackle. According to media reports, Donald Trump has a higher chance of returning as President, which could impact global economic policies and markets.

FII Selling Pressure: How It’s Impacting Indian Markets

October has been a challenging month for Indian equities, with Foreign Institutional Investors selling a significant portion of their holdings. So far in October, FIIs have withdrawn ₹8,633 crore from Indian equity markets. This heavy selling has added downward pressure on Nifty and Bank Nifty, creating a negative bias in the market.

Key Takeaway for Traders:

Given the selling pressure, traders are advised to take selective long positions and remain cautious in their trades. A focus on quality stocks with strong fundamentals may offer safer opportunities amidst the volatility.

Technical Analysis: Nifty and Bank Nifty Levels

Nifty Support and Resistance:

• Immediate Support Level: 24,471

• Immediate Resistance Level: 24,451

• Intraday Trading Range: 24,500 - 25,000

Bank Nifty Support and Resistance:

• Immediate Support Level: 51,100

• Immediate Resistance Level: 52,577

• Intraday Trading Range: 51,000 - 52,100

Given the weakening momentum in both Nifty and Bank Nifty, today’s outlook remains bearish, with higher chances of market instability.

U.S. GDP Data: What It Means for Interest Rates

Recent U.S. GDP data showed that the economy grew by 2.8% in Q3, a stronger-than-expected performance. This growth indicates that the pace of interest rate cuts may slow down in the coming months, which could have a direct impact on global equity markets, including India. Higher interest rates tend to reduce liquidity in the markets, leading to lower stock prices.

Buzzworthy Stocks to Watch

Here are some key stocks that have been buzzing in the market and may provide interesting opportunities for investors:

1. NTPC – The company is making headlines after receiving SEBI approval for its Green Energy IPO, which is expected to perform well shortly.

2. Honeywell Automation – The company reported a 5.7% year-over-year decline in net profit for Q2, which caused its stock to dip.

3. Garden Reach Shipbuilders – The company’s stock saw a 0.08% rise after winning a ₹4,998 crore order from the Ministry of Defence.

4. Meric – This company surprised the market with better-than-expected Q2 results, reporting a 20.3% year-over-year increase in profit, reaching ₹433 crore compared to ₹360 crore last year.

Derivatives Data: Key Insights for Traders

Regarding derivatives data, the Nifty October Futures last traded at ₹24,470 with a premium of +3 points.
Maximum Call Open Interest for Nifty stands at 25,000 and 24,500 strike prices, while Maximum Put Open Interest is observed at 24,000 and 23,500 strike prices.

For Bank Nifty, the maximum Call and Put Open Interest is recorded at 55,000 strike price, indicating significant higher-level resistance.

Key Stocks with High Open Interest Change:

• Long Build-up: AB Capital, PI Industries, Divis Labs, Balrampur Chini

• Short Covering: Adani Enterprises, Adani Ports, Concor

Conclusion: Navigating a Volatile Market

In conclusion, the final trading day of Samvat 2080 is likely to be filled with volatility, driven by global cues, institutional activity, and technical data. With U.S. jobs data and elections on the horizon, markets could remain unpredictable in the near term.

Key Tips for Traders:

• Stay cautious and avoid aggressive trades.

• Monitor key global events like the U.S. jobs report and elections.

• Focus on high-quality stocks with solid fundamentals for selective long positions.

If you found this market analysis useful, please share this blog with fellow traders and investors and keep following us for more updates on stock market trends.

#MarketUpdate #NiftyAnalysis #BankNifty #StockMarketNews #TradingTips #StockMarketHindi #InvestmentTips #HyundaiIPO #GlobalMarketUpdate #NiftySupportAndResistance

Save Big, Invest Smart!

Open a Demat Account & Save ₹336/Year!

• Zero Platform Fees 🆓

• Zero AMC Charges 💸

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.

Subscribe to get Daily Stock Market Updates.

Shopping for Home