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PRE-MARKET ANALYSIS FOR 27TH OCT 2020, BY NM EQUITY.

SO TODAY MARKET STARTED WITH A NEGATIVE NOTE BECAUSE EVEN GLOBAL INDICES GOT CORRECTION, RISING COVID CASES IN US AND DELAY IN STIMULUS PACKAGE.

METAL AND AUTO SECTOR FELL HUGE COMPARING IT-PHARMA.

RELAINCE FELL 4% DUE TO AMAZON

BANK NIFTY CAME UNDER SEVERE PROFIT DESPITE GOOD KOTAK RESULTS'

AUTO SECTORS FELL > 5%



NOW LETS TALK ABOUT TOMORROW,

DOW JONES AS PER 11:38 AM AS PER GMT-4 IS 700 POINTS DOWN. WHERE AS NASDAQ IS 183 POINTS MINUS

WHICH INDICATES NEGATIVE OR EVEN GAP DOWN FOR INDIAN MARKET TOMORROW ON TUESDAY.


NIFTY LEVELS

According to pivot charts, the key support levels for the Nifty is placed at 11,672.07, followed by 11,576.33. If the index moves up, the key resistance levels to watch out for are 11,903.17 and 12,038.53.

BANK NIFTY LEVELS

The Bank Nifty fell 402.80 points 1.65 percent to close at 24,075.50 on October 26. The important pivot level, which will act as crucial support for the index, is placed at 23,769.7, followed by 23,464. On the upside, key resistance levels are placed at 24,479.2 and 24,883.


RESULTS

Bharti Airtel, Tata Motors, Amara Raja Batteries, Castrol India, Ceat, ICICI Prudential Life Insurance Company, JM Financial, Man Industries, Mangalam Organics, Nippon Life India Asset Management, Sanofi India, SKF India, Suven Life Sciences and VST Industries are among 37 companies to announce quarterly earnings on October 27.


Stocks in the news

Finolex Industries: The company reported a higher profit at Rs 122.8 crore in Q2FY21 against Rs 102.3 crore, revenue increased to Rs 585.8 crore from Rs 576.7 crore YoY.

M&M Financial: The company reported a higher profit at Rs 303.5 crore in Q2FY21 against Rs 251.8 crore, AUM increased to Rs 81,682 crore from Rs 72,732 crore YoY.

Torrent Pharma: The company reported profit at Rs 310 crore in Q2FY21 compared to Rs 244 crore, revenue rose to Rs 2,017 crore from Rs 2,005 crore YoY.

NTPC: The company will consider share buyback on November 2.

Indian Railway Catering and Tourism Corporation: The government has appointed merchant bankers for a period of three years for disinvestment of stake in IRCTC through an offer for sale.

Angel Broking: The company reported profit at Rs 74.5 crore in Q2FY21 against Rs 19.2 crore, revenue jumped to Rs 309.8 crore from Rs 171.8 crore YoY.


FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 119.42 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 979.16 crore in the Indian equity market on October 26, as per provisional data available on the NSE.


Stock under F&O ban on NSE Five stocks - Coforge, Escorts, Vodafone Idea, NALCO and Vedanta - are under the F&O ban for October 27. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.


TO GET INTRADAY AND SHORT TERM CALLS/TIPS/ADVICES JOIN NM EQUITY PAID PLAN STARTING AT REALLY CHEAP RATES.




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