STOCK MARKET OUTLOOK

STOCK OUTLOOK

SRFFUT :-Stock ends with big bearish candle and ends near around its important support which can be seen in below charts, if sustain below this mark than selling pressure may seen

Stock performance

VWAP	1762.98
Traded Volume	838000
Traded Value (lacs)	14773.98
Market Lot	500
Weekly High	1955.00
Weekly Low	1695.70

Rating Matrix by Researcher

Rating	BUY
R1/R2	1840/1935
S1/S2	1620/1530
LEVEL	1692

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MARKET NEWS CORNER

 NEWS CORNER 

1.     The Reserve Bank of India (RBI) has frozen the remuneration of Bandhan Bank chief executive officer and managing director ChandrashekharGhosh for not complying with the promoter shareholding norms. Bandhan Bank also cannot open new branches without the regulator's permission.

2.     SEBI has barred Rich Infra Developers India and its four directors from the capital markets for at least four years and also directed them to refund money collected illegally from investors. The directors have also been restrained from holding key managerial position of any listed company for four years, the Securities and Exchange Board of India (SEBI) said in an order dated September 27.

3.     Kesoram Industries has received an approval from Karnataka government for acquisition of some 675 acres of land for Industrial purpose.

4.     Canara Bank’s board decided to hike equity share capital amounting upto Rs250cr (Face Value), through qualified institutional placement route.

5.     Reliance Communications clarified that Paytm’s parent company-One97 Communications has filed petition in NCLT for dues worth Rs20.25cr against its two arms.

6.     Central Bank invoked pledge on the shares of Rolta India’s arm.

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MARKET SECTOR SCAN

SECTOR SCAN

Sector	% Chg	Advance	Decline
Automotive	-2.26%	7	73
Banking & Financial Services	-0.41%	34	164
Cement & Construction	-2.25%	7	87
Chemicals	-0.94%	14	95
Conglomerates	-2.90%	11	24
Consumer Durables	-1.10%	2	9
Consumer Non-durables	-0.97%	6	23
Engineering & Capital Goods	-2.19%	13	123
Food & Beverages	-0.50%	6	76
Information Technology	-0.06%	12	94
Manufacturing	-2.72%	27	179
Media & Entertainment	-1.62%	8	37
Metals & Mining	-4.96%	8	80
Miscellaneous	-4.09%	24	139
Oil & Gas	0.26%	7	15
Pharmaceuticals	-1.49%	10	75
Retail & Real Estate	-2.71%	3	50
Services	-2.06%	14	70
Telecommunication	-3.70%	3	28
Tobacco	1.48%	3	2
Utilities	-2.25%	0	25

Sectoral Indices:

Name	%change
NIFTY BANK	0.31
NIFTY AUTO	-2.29
NIFTY FIN SERVICE	0.5
NIFTY FMCG	0.33
NIFTY IT	-1.12
NIFTY MEDIA	-1.81
NIFTY METAL	-5.02
NIFTY PHARMA	-1.19
NIFTY PSU BANK	-0.87
NIFTY PVT BANK	0.13
NIFTY REALTY	-4.75

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Bank Nifty Weekly View

Bank Nifty continued its southward journey for third consecutive day on Friday and closed in the red for eight out of last nine sessions. September was like a nightmare for the market, Bank Nifty forming a long bearish candle which resembles a Bearish Engulfing pattern on the monthly charts. Rising crude oil prices and rupee volatility caused selling pressure in the market.

Weekly chart

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Nifty Weekly View

Markets witnessed yet another volatile trading session on Friday with heavy selling pressure witnessed in small and midcap stock. Nifty hit an intraday low of 10,850 before staging a smart recovery at the fag end of the day.Nifty Metal, meanwhile, was the worst-performing sectoral index in Friday’s trade and ended 5.09% lower.

Weekly Chart

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