{"id":1119,"date":"2021-10-25T17:04:35","date_gmt":"2021-10-25T11:34:35","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=1119"},"modified":"2021-10-25T17:04:37","modified_gmt":"2021-10-25T11:34:37","slug":"sensex-snaps-4-day-losing-streak-bank-nifty-posts-record-closing-fresh-up-move-in-nifty-possible-above-18300","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/sensex-snaps-4-day-losing-streak-bank-nifty-posts-record-closing-fresh-up-move-in-nifty-possible-above-18300\/","title":{"rendered":"Sensex snaps 4-day losing streak, Bank Nifty posts record closing; fresh up move in Nifty possible above 18300"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">BSE Sensex and Nifty 50 snapped a 4-day losing streak as banking shares extended gains on Monday. BSE Sensex recouped all the losses and gained 145 points or 0.24 per cent to end at 60,967, while NSE\u2019s Nifty closed above 18,100, up 10.50 points. ICICI Bank was top the contributor to the indices gain, followed by Axis Bank, State Bank of India (SBI), Mahindra &amp; Mahindra (M&amp;M), and Dr. Reddy\u2019s Laboratories, among others. Broader markets underperformed the equity benchmarks. BSE MidCap index declined 1.7 per cent or 422 points to end at 25,145. While the BSE SmallCap index tanked nearly 2 per cent or 500 points to settle at 27,836. India VIX, the volatility index, gained 0.4 per cent to finish at 17.61 levels. Analysts say that the Nifty has formed resistance near the 18225-18300 zone, and fresh move will be possible only above 18300 levels<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Markets were volatile and non-directional intra-day but Nifty found support near 18000, which helped indices to reverse losses. Technically, post short-term correction, the index consistently took support between 18000-18050 or near 20 day SMA. On intraday charts, the index has maintained a lower top formation which is broadly negative for the Nifty. We are of the view that the short term structure is weak but a quick pullback rally is not ruled out, if the index succeeds to trade 18000-18050 levels. Once again, 18050 could act as a sacrosanct support level for the day traders, and above the same, we can expect an extension of a pullback rally up to 18250-18310. On the flip side, below 18050 or below 20 day SMA, the uptrend would be vulnerable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Vinod Nair, Head of Research, Geojit Financial Services<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Market opened weak, however strong support from Banking stocks helped to balance the bearish pressure and lifted the indices to trade on a flat note. Improved asset quality and business growth based on key Q2 earnings aided the banking sector to improve the outlook leading to outperformance. Global markets were steady in anticipation of robust quarter earnings in the backdrop of inflation fears and possible tightening of monetary policy in the next policies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rohit Singre, Senior Technical Analyst, LKP Securities<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Index managed to close a day at 18125 with minimal gains and formed a hammer sort of candle pattern on the daily chart which is bullish reversal candle pattern by nature. The good support zone is formed near 18030-17970 zone if managed to hold above-said levels then we may see some more extension in current pullback &amp; any dip near mentioned support zone will be again buying opportunity, on the higher side index has formed resistance near 18225-18300 zone fresh move possible only above 18300 zone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Gaurav Udani, CEO &amp; Founder, ThincRedBlu Securities<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From last few trading sessions, the Nifty has been making lower Highs and lower lows, which is a bearish sign. Nifty closed flat at 18125 after taking resistance at 18240. Nifty has support in 17980-18020 range and resistance in the 18220-18240 range. Traders are advised to be cautious in long positions and maintain strict stoploss.<\/p>\n\n\n\n<h2 class=\"has-dark-red-color has-text-color wp-block-heading\"><strong>Eqwires Research Analyst<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-gray-color has-text-color wp-block-paragraph\"><strong><a href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-medium-gray-color has-text-color wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\"><strong>Best SEBI registered Intraday tips provider and Best SEBI registered stock advisory company<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-medium-gray-color has-text-color wp-block-paragraph\"><a href=\"mailto:info@eqwires.com\"><strong>info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color wp-block-paragraph\"><strong><a href=\"https:\/\/t.me\/eqwires\">Telegram&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/www.facebook.com\/eqwires\/\">Facebook&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/twitter.com\/EqwiresRA\">Twitter<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color wp-block-paragraph\"><strong>Call: +91 9624421555 \/&nbsp;<em>+91 9624461555<\/em><\/strong><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color wp-block-paragraph\"><strong><a href=\"http:\/\/www.eqwires.com\/\">www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BSE Sensex and Nifty 50 snapped a 4-day losing streak as banking shares extended gains on Monday. BSE Sensex recouped all the losses and gained 145 points or 0.24 per cent to end at 60,967, while NSE\u2019s Nifty closed above 18,100, up 10.50 points. ICICI Bank was top the contributor to the indices gain, followed by Axis Bank, State Bank of India (SBI), Mahindra &amp; Mahindra (M&amp;M), and Dr. Reddy\u2019s Laboratories, among others. Broader markets &hellip; <a href=\"https:\/\/www.eqwires.com\/tutorials\/sensex-snaps-4-day-losing-streak-bank-nifty-posts-record-closing-fresh-up-move-in-nifty-possible-above-18300\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sensex snaps 4-day losing streak, Bank Nifty posts record closing; fresh up move in Nifty possible above 18300&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,75,210,158,166,311,228,227,103,254,102,224,257,298,300,101,373,105,301,165,327,329,76,77,78,79,247,347,365,356,308,358,361,355,353,352,350,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,374,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,145,14,150,153,120,9,271,190,191,13,18,8,10,148,151,146,331,319,16,122,144,25,285,27,21,194,50,229,226,124,33,253,126,225,119,20,28,49,127,121,230,295,22,113,29,245,357,310,351,384,379,380,377,389,213,26,182,111,31,62,34,30,42,57,112,343,321,56,171,64,132,206,59,53,264,128,43,51,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,63,67,60,61,65,234,71,235,54,256,117,233,68,287,193,241,335,205,66,204,323,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,179,180],"class_list":["post-1119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-telegram-channel","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-intraday-tips-provider-in-india","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-option-trading-telegram-channel","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-sebi-registered-telegram-channel","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-best-stock-tips-provider-in-telegram","category-eqwires-best-stock-tips-provider-on-telegram","category-eqwires-genuine-stock-tips-provider","category-eqwires-high-accuracy-stock-tips-provider","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","ca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