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    Monthly Update

    October Highlights

     

    • Nifty made high of 5170. 
    • Profit booking dragged nifty below its crucial support level of 4900. in the last week
    • Market corrected by 223 points. [4.50%] on expiry basis to close  at 4750.
    • Biggest Gainers - October.
    1. Balramchin (25.29%),
    2. Yes bank (18%),
    3. Bajajhind(16.84%) and 
    4. PTC (15.59%).
    • Biggest Losers - October.

    Telecom and realty sectors were the worst hit.

    1. Rcom (-38%),
    2. EKC (-31.90%),
    3. Idea (27.68%),
    4. Unitech (25.90%) and
    5. Bharti (25.54%).

    November - Forecast.

      
    • Genie expects Nifty to trade in broader range of 4720-5150.
    • Can expect Selling pressure at every rise.
    • Nifty has an immediate resistance around 4900-4920
    • Short covering is expected above 4950 which could take nifty towards 5150 levels.
    On a worst scenario Genie expects 4550 at downside.
    Break below 4700,  panic selling would take nifty to 4600 - 4550  levels. 
     
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