The way Nifty moved in today’s session would have put a tortoise to shame. Yep, absolutely listless.

*Review & Preview @4PM —— Friday, October 11th 2024*

NIFTY (-34, 24964)
Sensex (-230, 81381)
Bank Nifty (-359, 51172)

The way Nifty moved in today’s session would have put a tortoise to shame. And you could also compare the market’s range with that of a porcupine’s spines.

Yep, absolutely listless.

The Good News: The directional trend remains bullish.

# Buzzing stocks:

1) Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the chairman of Tata Trusts following the passing of the legendary industrialist Ratan Tata.

He is currently the chairman of Trent, Voltas, Tata International, and Tata Investment Corporation.

Shares of Tata group companies such as Trent (+2.52%, Tata Motors (+0.31%), Tata Steel (+0.71%) and TCS (-1.92%) traded mixed.

2) NBCC stayed depressed, down 2.48% even after bagging order worth Rs 65.15 crore from Navodaya Vidyalaya Samiti.

3) Shares of Panacea Biotec surged up to 1.5% at Rs 310 after the company disclosed its plans to develop a dengue vaccine within the next two years.

 

# Sentimental Overview:

In was an uninspiring session as Nifty ended the day in the red.

Investors wondered: Should profits be booked, or just stay the bullish course?

Investors now look ahead to the latest US producer inflation report to trickle in this Friday, October 11th at 6 PM IST.

# Technical Overview:

The benchmarks were not seen making any convincing moves in either direction.

After today’s sluggish action, technically, confirmation of strength only above Nifty’s biggest hurdles at 25300 mark.

Nifty’s biggest support is placed only at 24413 mark.

Nifty’s 200 DMA at 23226 mark.

# Outperforming Nifty Sectors:
Nifty PHARMA (+1.2%)
Nifty METAL (+1%)
Nifty IT (+0.53%)

# Underperforming Nifty Sectors:
Nifty REALITY (-0.76%)
Bank Nifty (-0.67%)
Nifty Auto (-0.32%)

# Bulls of the day:
TRENT (+2.52%)
HINDALCO (+2.27%)
HCLTECH (+1.73%)
TECHM (+1.56%)
ONGC (+1.35%)

# Bears of the day:
TCS (-1.93%)
M&M (-1.80%)
ICICIBANK (-1.62%)
CIPLA (-1.52%)
ADANIENT (-1.39%)
(Source NSSEINDIA.com)

Trader Premium Services

Investor Premium Services

 

Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.