InvestorQ : What will be the Nifty trend and market outlook for the week starting from 19th October 20?
Sakshi Malhotra made post

What will be the Nifty trend and market outlook for the week starting from 19th October 20?

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1 month ago
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Global risk-off sentiment; reported ETF selling by some large institutional investors; and GST compensation stalemate ended the record 13-day winning streak of Indian equities. The momentum slowed marginally; though it continues to remain high. The market breadth was poor, volatility little higher, and volumes were average. Quality and Midcap were the worst-performing indices. The metal was the only sector to end the week with gains. Media, PSU banks were again the worst performers. INR weakened marginally while bonds were unchanged

Fresh restrictions on mobility in Europe due to a sharp rise in the number of cases spooked the traders and made markets a bit fearful. Equities, crude, copper, precious metals were sold, while USD and safe-haven bonds gained. Volatility increased a little bit. Chinese equities outperformed on strong economic data.

The outlook and trend for Nifty remain unchanged from last week. The outlook and trend are positive for near (daily) and short (weekly) terms, while for midterm (monthly) it continues to remain neutral. The momentum remains high, indicating a good probability for change in the market outlook and trend. 

For this week :
The day traders may avoid trading in 11738-11896 nifty range. The long positions may be held with a stop loss of 11416. Outstanding short positions may be held only with a stop loss of 12032. All prices spot.

Bank Nifty near and short term trend is now neutral while Long term trend continues to remain negative. All short positions may be held with a stop loss of 24060. Day Trading may be avoided in the 23075-23650 range. For all long positions maintain a strict stop loss of 22890. All prices spot.
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