Stories
Trade Setup for October 16: Top 15 Things to Know Before Opening Bell
- •The Nifty 50 surged 1.66 percent on October 15, recording its biggest single-day gain in four months and reclaiming its 20-day EMA.
- •Experts advise caution as the broader market trend remains weak with the index trading below its 50-day and 200-day EMAs.
- •Key resistance for Nifty is pegged at 23,000 to 23,350, while immediate support rests in the 22,700 to 22,600 range.
- •The India VIX fell 4.1 percent to 14.02, providing some relief to the bulls though a drop below 12 is needed for strong comfort.
- •Ambuja Cements, Kaynes Technology India, and SAIL remain under the F&O ban list for the session.
Key Questions Answered
The Nifty 50 surged 1.66 percent on October 15 to record its biggest single-day gain in four months, reclaiming its 20-day EMA and the middle line of the Bollinger Bands. Similarly, the Bank Nifty formed a bullish candle on the daily chart, maintained a higher high-higher low structure, and closed above its short-term moving averages.
Securities banned under the Futures and Options (F&O) segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit. The stocks retained in the F&O ban for the session are Ambuja Cements, Kaynes Technology India, and SAIL, with no new stocks added or removed.
Foreign institutional investors (FIIs) remained net sellers, offloading shares worth 5,285.37 crore rupees on a provisional basis. Meanwhile, domestic institutional investors (DIIs) provided market support by purchasing equities worth 3,319.39 crore rupees.
