Fincare Share and Stock Brokers Private Limited

*Market Updates*

- On the Global Fronts, market is standing at a point where the correction is more likely.

- Dollar index has formed uptrend structure in weekly charts and is ready to rally further from 93 levels to 95/96/97 levels.

- In case of above scenario, we can witness sharp Profit Booking in market supported by India Vix which is trading above 17.5 levels.

- October month expiry will be highly volatile. Traders are advised to put strict SL in Nifty long Position at 17200. Any closing below 17200 would initiate short term downtrend.

- Although correction is a part of market ups and downs & it's overdue now.

- Investors are advised to keep booking profits at regular intervals. Further uptrend shall resume once market settles above 18000 for 2-3 trading days.

*Market Updates*

- Today is a strange day in market...ITC and Indusind which were dead from last few months, are up 6-8% in opening first hour.

- Further Honorable Finance Minister Nirmala Sitaraman to brief media, at 5 pm, on Bad Bank, today

- Nifty and Bank Nifty are ready to rally further, stay invested in IT, Electric Mobility, Pharma, FMCG

*Market Updates*

- We will witness next leg of rally from Monday onwards

- Keep your positions hedged, as tomorrow is Holiday in Market.

- Stay invested or average out your quality stocks.

- Bank Nifty will rock and roll above 36800 and Nifty will rock and roll above 17430.

*Happy Investing*

*CURRENCY MID-DAY UPDATE:*

Rupee opened on a flat note and fell on back of weakness in domestic equities

Suspected fund outflows also weighed on the currency

On the domestic front, market participants will be keeping an eye on the IIP that will be released later this week

Today from the Euro zone German economic sentiment will be the only important data to watch for

Euro and pound remained supported at lower levels for the whole of last week

For the day, we expect the USDINR (Spot) to quote sideways to positive

Sell Nifty at CMP for Target 17200/17000/16700

SL 17426

All spot levels