Due to weak Asian cues 50-bundle stocks opened gap down at 11280.50 while Sensex is opened at 38130.23 down by 150 points. Nifty is looking sideways for upcoming trading sessions. On technical chart, Nifty is trading below 50DMA and 100DMA and sustaining on a very strong support level of 11080. RSI is trading at 51.19 which is also not showing any divergence. Indian rupee opened at 70.95 per dollar higher by 12 paise versus previous close of 71.07. Among sectors all the sectors are trading in red with banking down by 1.07%.
Nifty Bank: Nifty Bank is opened at a negative note at 28542.95. In today’s trading session, nifty bank is down by 1.05% at currently trading at 28325.60.It is looking bearish for upcoming trading session as it is sustaining below 200DMA and trading at 50DMA which provides a strong support to the index. The major support and resistance levels for nifty bank is 27900 and 28600 respectively.
Stocks in Limelight
Torrant pharma: Warning letter is received by the company from USFDA the health regulator for its Indrad facility in Gujrat.
Reliance: Jio customer should pay 6 paise for voice call per minutes to revive phone networks.
Bhartiartl: Shares of Bharti Airtel touched a 52-week high of Rs 384.85, gaining 7 percent and shares of Vodafone Idea added more than 17 percent in intraday trade on October 10. IUC is a cost paid by one mobile telecom operator to another when its customers make outgoing mobile calls to the other operator’s customers.