Key equity barometers resumed uptrend after a day’s breather. The Nifty ended tad above the 11,600 level. Public sector bank stocks advanced while IT stocks bounced back after yesterday’s selloff.Unless the immediate trend decider level of 11,050 is breached, the uptrend shall remain in force and 12,100 levels are expected. We advise initiating fresh long positions on any retracement up-to 11,400-11,250 levels, with a final stop loss of 11,050.
Global Markets
Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller.World stock markets fell on Wednesday, as hopes faded that a Brexit deal would be wrapped by next week and a profit warning from Texas Instruments pulled down tech shares.
Nifty Chart
Nifty Index closed on weak note at 11604.10 23.10.2019. Nifty has resistance at 11655. Nifty Support : 11480-11450, Resistance : 11655-11700.
