DAILY MARKET COMMENTARY

Our market continued sideways movement on Friday as well. There is no clear trend that market is following, fight between bulls and bears are what we had seen this week so far. Public sector giant SBI help gain Nifty PSU gain 4.32% and also help bank nifty future to gain 105.65 points on closing basis. Market was supported by bulls in the last half an hour after GST meet.

Nifty closes 12.80 points up at 10321.75; and sensex was up 63.63 points at 33314.56

Nifty PSU Bank once again closes in green with gain of 4.32% helped by SBI Q2 result. Nifty Pharma once again closes with a loss of 1.32 % 

SBIN, L&T and HUL are the top gainers today and AURO PHARMA,TATA MOTORS, HPCL end on the losing side.

SBI Q2 result and outcome of GST meet to cut taxes on about 175 items from 28% to 18% is the boost for the market as market gain in the last hour of the day but there is still no clear trend that market is following. September industrial output data and October inflation data is due next week.

10270 is still key support for Nifty as this will decide market trend, market has shown sideways movement from past 2 days but GST meet and SBI Q2 result is the boost that market is looking for. Traders and Investors are advised to take long position on dips and avoid any undue risk.

MARKET LEVEL FOR MONDAY - 

Support of Nifty future is placed at 10270 and 10190.

Resistance of Nifty future is placed at 10415 and 10550.

Support of Bank Nifty future is placed at 25110 and 24950.

Resistance of Bank Nifty future is placed at 25520 and 25720.

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