In the weekly analysis, we analyzing the whole week’s movement. This week was highly volatile and event base. The market was witnessed sudden up and down this week and undirected. The market closed positively this week and hold the near support. On the weekly closing the Nifty index gains 130 points, Niftybank gains 310 points and Sensex gains more than 450 points.

On a weekly basis, the Nifty index opened at 11196.20 went up to 11362.90 and closed at 11305.05 after making the low of 11090.15. Niftybank index opened at 27909.90 and stay volatile between 28857.70 to 27568.35 settled at 28042.50 Sensex opened at 37853.80 made a high of 38345.41 low 37415.83 and closed at 38127.08.

As per our last view, ‘if the Nifty index sustains below 11300 then the downtrend will continue till 11085 an if the Nifty index breaks and stay above 11300 then it can go up to 11500 to 11600’ and the index has made low of 11090 and closed above 11305.

For next week’s trading, if the Nifty index stays above 11250 and breaks 11400 then it will move up towards the 11600. If the Nifty index breaks and sustains below 11160 then again it can fell downside.

Above is the Nifty weekly chart. From the chart above it can be seen that the index staying up following the 100 day moving days averages. The index has taken the support of 10600 and bounce back to 11700. Technically, the market is in consolidation form and highly volatile. On the weekly chart, indicators like MACD, RSI, and stochastic showing positiveness.

Index Nifty trading zone from 14-10-2019 to 18-10-2019

Upside resistance(weekly):-  11415, 11525, 11660.

Downside support(weekly):- 11250, 11140, 11000.

CORPORATE ACTIONS

SCRIPT PURPOSE EX-DATE RECORD DATE
GOCLCORP Interim Dividend – Rs. – 2.0000 14 Oct 2019 15 Oct 2019
PGINDST Stock Split From Rs.10/- to Rs.5/- 14 Oct 2019 15 Oct 2019
STL Bonus issue 2:1 14 Oct 2019 15 Oct 2019
SATIA Stock Split From Rs.10/- to Rs.1/- 15 Oct 2019 16 Oct 2019
GRUH Amalgamation 16 Oct 2019 17 Oct 2019
AVANTEL Interim Dividend – Rs. – 2.0000 17 Oct 2019 18 Oct 2019
NIITLTD Buy Back of Shares 17 Oct 2019 18 Oct 2019
TCS Interim Dividend – Rs. – 5.0000 17 Oct 2019 18 Oct 2019
TCS Special Dividend – Rs. – 40.0000 17 Oct 2019 18 Oct 2019

NEWS HIGHLIGHT

  • SBI brings back processing fee on home loans prior to festive waiver period.
  • India’s Industrial production shrinks 1.1% in August.
  • Forbes India rich list- Mukesh Ambani dominates.
  • Azim Premji’s net worth falls sharply from philanthropic contributions.
  • Aurobindo pharma hits five years low after promoters create pledge earlier this week.
  • Cipla rebounds 4% as management alleviates concernson Goa unit observation.
  • Bandhan Bank surges 20% on likely MSCI index entry.