Nifty witnesses classical ‘Dead Cat Bounce’
- NIFTY (-37, 24436)
- Sensex (-139, 80082)
- Bank Nifty (-18, 51239)
Riddhi Siddhi Share Brokers Update:
- Nifty ends in red for the 3rd consecutive day.
- Nifty’s morning rally, led by IT stocks, was offset by a downturn in Pharma, PSE, and Auto stocks.
- India VIX, the fear gauge, jumped 1.32%, closing at 14.59 points.
Riddhi Siddhi Share Brokers Buzzing Stocks for the Day:
Top Index Gainers:
- BAJFINANCE (+4.90%)
- TECHM (+2.14%)
- TATACONSUM (+1.78%)
- BAJAJ-AUTO (+1.75%)
- HDFCBANK (+1.26%)
Top Index Losers:
- M&M (-3.22%)
- SUNPHARMA (-2.69%)
- EICHERMOT (-2.07%)
- SHRIRAMFIN (-1.86%)
- POWERGRID (-1.84%)
Sector Performance Update by Riddhi Siddhi Share Brokers:
- Adv-Dec Ratio: 18—32
- India VIX: 14.62 (+1.53%)
- NIFTY PCR (24th OCT): 0.62
- NIFTY PCR (31st OCT): 0.92
- Nifty MidCap 50: (+0.15%, 15763)
- NiftySmallC: (+1.25%, 18286)
- Bank Nifty: (-0.04%, 51239)
- Nifty IT: (+2.38%, 42222)
- USD/INR: (0.00%, 84.10)
Riddhi Siddhi Share Brokers’ View for Thursday’s Trade:
The Big Question: What comes after a Dead Cat Bounce?
- A ‘Dead Cat Bounce’ is a temporary recovery followed by more losses.
- Nifty’s downside risk is at 24350, with aggressive targets at the 200 DMA of 23353.
- Strength confirmation is above 24900.
All About Nifty by Riddhi Siddhi Share Brokers:
- Nifty CMP: 24436
- Support: 24371/24225
- Resistance: 24695/24801
- Range: 24372-24599
- 21 DMA: 25210
- 50 DMA: 25122
- 200 DMA: 23354
- Trend: Negative
Riddhi Siddhi Share Brokers Bullish Looking Stocks:
- JINDALSTEL
- NATIONALUM
- MPHASIS
Riddhi Siddhi Share Brokers Bullish Looking Stocks (Long Term):
- POLYPLEX
- BOMBAYDYEING
- WIPRO
Riddhi Siddhi Share Brokers Bearish Looking Stocks:
- SUNPHARMA
- CUMMINSIND
- ABB
Riddhi Siddhi Share Brokers Stocks to Avoid:
- ITC
- TITAN
- CHOLAFIN
Disclaimer by Riddhi Siddhi Share Brokers: This is not investment advice. Stock market investments are subject to risks. Information here is for educational purposes. Past returns do not guarantee future results.