Nifty Index opened positive but failed to sustain after its first hour and got stuck in the second half of the session. It moved in a narrow range of 150 points throughout the day and struggled to close near 25k marks. It formed a small bodied bearish candle and an inside bar on the daily frame.
The good part is that it has been making higher lows from the last three sessions but pressure is intact at any small bounce. Now till it holds below 25,150 zones, weakness could be seen towards 24,850, and then 24,750 zones, whereas hurdles are placed at 25,150 then 25,350 zones.
On option front, the Maximum Call OI is at 26,000 then 25,000 strike, while Maximum Put OI is at 25,000 then 24,000 strike. Call writing is seen at 25,000, then 26,000 strikes while Put writing is seen at 25,000,, then 24,000 strike. Option data suggests a broader trading range in between 24,600 to 25,500 zones while an immediate range between 24,800 to 25,300 levels.
The Bank Nifty Index opened on a positive note and witnessed steady buying momentum in the entire trading session as the index tested 51,600 zone. The rally was led by strong momentum in Private bank heavyweights. It formed a bullish candle on the daily scale and is now approaching its 50 DEMA.
The index is trading within the range of the strong bearish candle made on 7th October (51,784-50,194). Now, till it holds below 51,750 zones, weakness could be seen towards 51,000, then 50,750 levels, while on the upside hurdle is seen at 51,750, then 52,000 zones.
The Fin Nifty Index opened on a positive note and continued the bullish momentum for the entire trading session as the index surged towards 23,800 zones. The rally was mainly on the back of good buying in Private bank majors.
It formed an inside bar on the daily scale and has closed near its 50 DEMA, while holding above its 100 DEMA. Now till it holds below 23,850 zones, some weakness could be seen towards 23,550, then 23,250 levels, while on the upside hurdle is seen at 23,850, then 23,950 zones.
Nifty future closed positive with gains of 0.17 per cent at 25,126 levels. Positive setup in Kotak Bank, Lauras Labs, OberoiRlty, HAL, IDFC First Bank, Motherson, BEL, Indhotel, Powergrid, Maruti, M&M, MCX, Axis Bank, Dixon, Poly Cab, HDFC AMC, Page Ind and TVS Motor while weakness in Ambuja Cement, Auro Pharma, Sun TV, Colpal, Mphasis, Shree Cement, JK Cement, Pidilitind, Godrejcp and ACC.
OBEROI REALTY - TECHNICAL CALL OF THE DAY
Stock has taken support near 100 DEMA and negated lower highs-lower lows formation of past six sessions.
It has formed a bullish candle on daily scale and stochastics has bounced from over sold levels, indicating bullish momentum.
Buy OBEROI REALTY CMP 1879 SL 1830 TGT 1975
The Bank Nifty Index opened on a positive note and witnessed steady buying momentum in the entire trading session as the index tested 51,600 zone. | File/ Representational Image
Top 5 Stocks To Watch Out For October 11
Mazagon Dock:
Maharashtra State Power Generation Company Limited (MAHAGENCO) has placed a Purchase Order on Mazagon Dock Shipbuilders Limited for Supply Installation and Commissioning of AI based Comprehensive Infrasecure Project at GTPS-Uran and KGSC-Pophali at a total price of Rs 121.67crore including al taxes and duties.
Uno Minda:
The Toyoda Gosei Uno Minda India Pvt. Ltd. _{formerly known as Toyoda Gosei Minda India Pvt. Ltd.), Joint Venture of Uno Minda Ltd., has started its commercial production at its manufacturing facility located at Neemrana, Rajasthan.
Privi Speciality:
The company has received “Certificate of API (Active Pharmaceuticals lngredient) Product Listing” and “Certificate of Registration” for its Camphor product from U.S. Food and Drug Administration (USFDA). Having received the said registration, the company can now expand its business horizon into the area of pharmaceutical applications in USA.
The company has already received License for Manufacture, Sale and Distribution of Camphor (Form 25) from Food and Drugs Administration, Maharashtra State which enables it to sell Camphor to lndian Pharmaceutical Companies.
Ola Electric:
Ola Electric announced its ‘BOSS 72-hour Rush’ as part of its ongoing Biggest Ola Season Sale campaign for the festive season. From 10th - 12th October, customers can own an Ola S1 scooter for as low as Rs 49,999 and avail additional benefits worth up to Rs 25,000 on the S1 portfolio. The S1 X 2kWh is available at just Rs 49,999 (limited stock daily) while the flagship S1 Pro gets discounts of up to Rs 25,000 off and a flat Rs 5,000 exchange bonus.
Endurance Technologies:
Capital expenditure for a greenfield project has been approved and that Endurance Technologies plans to set up a new facility to manufacture alloy wheels for two wheelers on a land parcel of ~30 acre situated at Aurangabad Industrial City (“AURIC”), Sambhajinagar. The Company currently manufactures alloy wheels at its plant in Chakan, Dist. Pune, where the capacity stands at 2,30,000 sets per month. The proposed capacity installation will add 1,80,000 sets of two-wheeler alloy wheels per month. The start of production is envisaged in Q2FY26.
The Company currently manufactures and sells alloy wheels from its facility in Chakan, Dist. Pune, with consistently strong performance on quality, cost and delivery parameters. Considering peak capacity utilization at the existing plant and high inflow of new orders, setting up of this new facility is necessary.
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