Morning Release for 19 October 2018
Nifty closed in a negative note during the last trading session, and finally wrapped with a change of -1.24% at the levels of 10453. Nifty is expected to open sideways with a bearish move for the remaining session with an immediate upside resistance of 10550-10620-10670 and a support of 10400-10350-10300.
Indian shares ended more than 1% lower on Wednesday, dragged by financial stocks, such as, Indiabulls Housing Finance Ltd. and Yes Bank Ltd., amid liquidity concerns.
The benchmark BSE Sensex closed 1.09% lower at 34779.58, while the broader NSE Nifty ended 1.24% weaker at 10453.05. Indian markets have been facing a liquidity crunch owing to a depreciating rupee and higher oil prices. Indiabulls Housing ended 14.30% lower and was the top percentage loser on the Nifty. Reliance Industries Ltd. dropped 1.10% ahead of the company’s September quarter earnings due later in the day.
Pivot Levels for 19 October 2018