Indian benchmark indices opened on a positive note at 11152.95 up by 26.55 points while Sensex is opened at 37628.05 up by 96.05 points. Nifty is consolidating at the range of 11150 to 11100. On technical chart, nifty is looking downward as it is sustaining below 100DMA, 200DMA and supported by 50DMA which is a good support. If nifty breaches the level of 11080 than a bearish momentum can be seen. RSi is trading at the levels of 33.71 which is not indicating any positive sign for further trades. Indian rupee opened at 71.18 per dollar down by 16 paise versus Monday’s close 71.02.
Nifty Bank: Nifty Bank is opened at a positive note at 27901.65. It is looking bearish for upcoming trading session as it is sustaining below 50DMA and 200 DMA. The major support and resistance levels for nifty bank is 27550 and 28200 respectively.
Stocks in Limelight:
DHFL: Due to delay in announcement of company financials earnings, leading depository CDSL has frozen shareholding of the promoters.
TATAMOTORS: The retail sales of July- Sept falls by 0.07% to 1.28 lakhs per unit.
NMDC: The meeting of Board of Directors will be placed on October 11, 2019. The company is consider to raise funds from debt market.