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Market Report

Tuesday, 27-Oct-2015

NSE

  • The S&P BSE Sensex ended the day 108.52 points, or -0.40 per cent, lower at 27,253.44 while the 50-stock barometer Nifty50 closed with losses of 27.65 points, or -0.33 per cent, to close at 8,232.90 today. Lupin and ONGC were top losers on the BSE benchmark.

  • The domestic market today retreated from a two-month high tracking weak global cues ahead of the crucial two-day meeting of the US Federal Open Market Committee, which is scheduled to begin later in the day.

  • Market participants have turned cautious ahead of the US FOMC meet which begins today. The Bank of Japan's (BoJ) meeting on interest rate decision is also scheduled on Friday. Further, markets will remain volatile this week ahead of the October derivatives expiry on Thursday.

  • Volatility is definitely on the cards as seen from the India VIX up a notch of near 7% to above 17, says Ranak Merchant, Technical Analyst. While resistance has been established in the 8,350-8,380 zone, support is seen in the 8,186-8,225 area. Bank Nifty saw a brief breach above the multiple tops of 17950 but is yet to close above the same. Meanwhile the 200 Day EMA of 17,700 would act as immediate support. Trade cautious and keep leverage in check with trailing stop losses and continue book part profits to reduce cost of holding, she says.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)