NEXT WEEK MARKET PREDICTION

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Nifty had a fantastic rally during the week gone by, as the market opened with a gap-up and closed higher on most days. But the week’s rally was one of the shallowest in terms of stock participation from index, which was less than half. Smallcaps and midcaps, too, did not participate in this uptrend.Nifty has been rallying sharply after bouncing from the Rising channel support on the weekly chart. Market breadth remained positive throughout the week, while IT and financials remained major contributors to the benchmark index. Now, after a swift rally of more the 1,000 points, a mild pullback up to 11,500 level cannot be ruled out.
 EVENTS OF THE WEEK
With the attempt to mend the fractured economy, RBI’s Monetary Policy Committee continued its accommodative stance and maintained status quo on repo rates. Dalal Street kept its upbeat mood on good commentary on GDP outlook and liquidity measures. Real estate, the largest share in terms of gross domestic wealth, is expected to benefit the most from RBI’s flexible rules, which will reduce interest rates for home buyers.
EXPECTATIONS FOR NEXT WEEK
Next week too, the IPO frenzy might continue with the listing of india’s second AMC, UTI AMC, and government-owned Mazagon Dock. This, along with the quarterly earnings, will throw some important light and set the tone for retail investors going ahead. TCS -0.45 % has given the results season a great start and provided an upbeat commentary too, but it would be prudent to wait and watch how other sectors performed during the staggered unlock period. Management commentaries and demand outlook.

UPCOMING RESULTS- INFOSYS,TATAELAXI,HCLTECH,HDFCBANK,CYIENT

 

WHAT SHOULD DO WITH INFOSYS??

BUY INFOSYS ABOVE 1112 TARGET 1125/1132 SL 1102

SELL INFOSYS BELOW 1104 TARGET 1091/1084 SL 1114 

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INFOSYS stock made another all-time high of Rs 1113. The short term trend of Infosys is extremely strong. The stock has rallied from Rs 900 to Rs 1100 within a very short period of time.That rally was price dominating and supported with modest volume activity. On the daily and weekly charts, the stock has formed Higher High and Higher Low series pattern which suggests uptrend momentum likely to persist in the near future.For the positional traders Rs 1040 would be the trend decider level. Trading above the same then we can expect further uptrend up to Rs 1150-1200. However, on a close below Rs 1040, traders may prefer to exit from trading long positions. Infosys is scheduled to release its September quarter results on October 14.

BULLS CONTINUED TO RULE THE STREET

"BUY BHEL CASH 500 SHARES @ 28.7 TARGET 34"

Bulls opened wednesday with a six.The Sensex gained 304 points to close at 40183. The Nifty has gained 96 points to close at 11835. Nifty Bank has closed 227 points at 23191.The market rally was largely aided by IT stocks with the index jumping almost 4 % led by index heavyweight TCS which hit new high. The other gainers included Wipro which added over 4 % after the IT firm said its Board will consider a buyback plan on October 13. L&T Infotech, Infosys, HCL Tech, Mphasis, Tech Mahindra and Mindtree were the other gainers adding 2-7 % each. Today IT stocks to have hit new 52-week high included Mphasis, Mindtree, HCL Tech, Infosys, Tech Mahindra, Coforge and Hexaware Technologies.
TOP GAINERS-WIPRO,CIPLA,TCS,INFY,HCLTECH,HDFCBANK
TOP LOSERS-GAIL,ONGC,ITC,LT,COALINDIA,L&T,RELIANCE
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TCS ; AN OBEDIENT STOCK

 
CALL GIVEN IN TODAY’S POST 
https://beststockfuturecalls.blogspot.com/2020/10/9000-profit-booked-in-tcs-future.html

TCS FUTURE ACHIEVED TARGET 2653 SELLING GIVEN FROM 2668 BOOKED PROFIT OF 9000
The results season will start tomorrow with the TCS results. According to estimates, TCS's constant currency growth in Q2 could be 2.4%. At the same time, the company's dollar income in the second quarter may increase 4 %  in the previous quarter But that pick up in growth is likely to be driven by reduced impact of supply-side constraints along with a healthy demand environment. Given a robust demand environment, it remains positive on the sector with Infosys as the top pick.
Today sensex & nifty ended over 1.5% higher. Market mainly lifted by banks and auto stocks.In auto sector Tata Motors stock price spiked 7 % today. HDFC shares surged over 8%, followed by Indusind Bank, M&M, Hdfc Bank, Asian Paints, Bajaj Finance and ICICI bank.While Tata Steel stocks fell the most, followed by Nestle India, L&T, NTPC, Sun Pharma, Bharti Airtel and Reliance Industries, Metal and Pharma stocks ended in red today.
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