Nifty and Banknifty Prediction for 27 October 2023

Markets were under tremendous selling pressure as Foreign Institutional Investors are dumping stocks on a large scale. One of the key reason can be “Entry of Israeli forces in northern Gaza” which spread a fear sentiment worldwide. In this post Nifty and Banknifty prediction for 27 October 2023, we will see where Sensex expiry can end. Markets are highly oversold and Nifty is standing on 200 DMA. In yesterday’s post, we expected a pullback but market opened gap down and started falling like a knife. But we still believe a sharp up move is due either for reversal or for further fall. So, we advise our readers to not short at this level, they should wait for a pullback. FII’s sold ₹7702 crores worth of stocks in capital markets today.

Nifty Prediction For Tomorrow

Nifty made high of ₹19041 and low of ₹18837. It opened Gap down and kept falling like a knife and took support around ₹18845 levels. You can check our previous article~ https://finsited.com/nifty-and-banknifty-prediction-for-26-october-2023/. If you follow our trendline, you will note how beautifully market respects the line. Now let’s look at Friday’s outlook.

Aggressive C.E O.I’s were at 18850,18900,18950 while P.E O.I’s at 18800,18850,18900. All sectors were weak today.

• It can show upside move if it breaks ₹(18895-18908) levels and can show targets of ₹18992,₹19129.
• It can show downside move if it breaches ₹(18792-18800) levels and can show targets of ₹18721,₹18633.

Connect with us via WhatsApp Channel~ https://whatsapp.com/channel/0029VaB7gl5IXnlz2VmQz53y

Banknifty Prediction for Tomorrow

Nifty Bank made high of ₹42716 and low of ₹42105. PSU banks were among the top draggers. Now let’s look at Friday’s level and its outlook.

Aggressive C.E O.I’s were at 42200,42300,42400 while P.E O.I’s were detected at 42000,42100,42200. Keep an eye on our charts shared below as they will clarify your doubts and will help to take trading decision.

• It can show upside move, if it breaks ₹(42369-42378) range, keep trailing SL till ₹42602,₹42827.
• It can show downside move, if it breaks ₹(42172-42185) range, keep trailing SL till ₹42028,₹41800.

Check Out~ https://finsited.com/2-breakout-stock-for-trading-next-week/

Finnifty Prediction for Tomorrow

Nifty Financial services made high of ₹19161 ,low of ₹18870. HDFC Bank, Bajaj Twins, PFC, RECL were among top draggers. Finnifty is basically a instrument of Nifty Bank because HDFC Bank has(30% weightage), ICICI Bank has(25% weightage) in it. So, it will move the same way where Banknifty will drag it. Let’s see its Tomorrow’s outlook.

Aggressive C.E O.I’s were at 18900,19000,19100 while P.E O.I’s at 18800,18900,19000.

• It can show upside move if it breaks ₹(18980-18992) level, targets will be ₹19054,₹19122.
• It can show downside move if it breaches ₹(18848-18859) level, targets will be ₹18746,₹18670.

Sensex Prediction for tomorrow

Sensex made high of ₹63774 and low of ₹63092. It’s expiry is tomorrow. So, a pullback is highly anticipated. Bajaj Twins, Asian Paints, Titan, Nestle, M&M were among top draggers. Let’s look at its Friday’s outlook.

Aggressive C.E O.I’s were at 63200,63300,63400 while P.E O.I’s were at 63000,63100,63200. Our view is Sideways to Bullish on it for Friday.

• It can show upside move if it crosses ₹(63307-63316) level, targets will be ₹63586,₹63928.
• It can show downside move if it breaches ₹(63033-63045) level, targets will be ₹62790,₹62444.

You can also read~ https://finsited.com/indias-g20-presidency/

Heavy Weights Forecast

Join our Telegram Channel for Latest Updates~ https://t.me/s/thefinsited

Global Outlook

• Japan’s Nikkei was under immense selling pressure and closed 668 points down.
• South Korea’s Kospi was also under brutal sell off closed 2.71% down.
• Australia’s S&P/ASX 200 fell after opening and closed 42 points down.
• Shanghai was bullish today after continuous sell off while Hang Seng was down in first half and recovered much of its loss in second half.
• European markets are in continuous sell off. DAX,FTSE,CAC all were bearish while Italy’s index was bullish today.
• U.S markets at 11:45 were trading in deep red. Nasdaq, S&P 500 both were down more than 1%.
• Dollar Index at 11:45 was trading above $(106.65) levels.
• Crude oil was trading around $88 mark. We are bullish on it. You can check live crude oil price at https://oilprice.com/

Conclusion

Market is falling continuously and in last 3 days NIFTY has corrected more than 700 points. Today market opened Gap down and fell like a knife. But in the theory of Stock market, whenever market falls without giving a pullback, Short covering is also very strong for further fall or recovery. So, we advise our readers to avoid selling. Let market give a pullback as it is oversold. Tomorrow is SENSEX expiry. Our view is Sideways to bullish for coming session. If you analyze the charts shared with you in article daily, you will understand market is following our pin point trendline. We have provided both upside and downside levels, take trading decision accordingly because there is no any space of biasedness in trading. Stay tuned!

Note

• Remember all the levels provided above are valid even market open gap up or gap down. Just follow the levels because if you want to be a profitable trader then, follow the path of level to level trading only.
• Please execute trades only after 10a.m. when markets are less volatile and calm because in first hour of opening, big players adjust there position which can lead to unexpected loss in your demat.

If you like the article, please share it with others.

HAPPY INVESTING!

Disclaimer

FINSITED has taken due care and caution to compile the data on its website. There is no guarantee of profit or no exemption from losses. The views and investment advice provided here is solely the personal view of the research team and for educational purposes only, we are not SEBI Registered Advisors. For any investment or trading in capital markets, please consult your financial advisor. FINSITED will not accept any liability for loss or damage as a result of reliance on the information contained with this website including data, quotes, charts and buy/sell signals. We do not guarantee the accuracy, adequacy or completeness of any information and are not responsible for any errors or omissions or the results obtained from the use of such information. Please be fully informed regarding the risks associated with trading in the financial markets. Therefore, FINSITED doesn’t bear any responsibility for any trading/investing losses, you might incur as a result of using our website’s data.

If you have any query regarding this article or information shared with you at FINSITED portal. Please get in touch with us at https://finsited.com/contact/
or mail us at support@finsited.com
You can also check out our Privacy Page at https://finsited.com/privacy-policy/