Indian Futures Trading shares rose for a third straight session and mark their uppermost close in 1-1/2 weeks as coal-related stocks such as Jindal Steel and Power surged on the government's procedure to public sale coal blocks the top court cancelled in August. The Bombay Stock Exchange Sensex closes at 26576 were stumbling up by 146 points or blink high by 0.55 percent. Nse Nifty Closes at 7928 were quick healing by 49 points or root speed by 0.61 percent. The BSE Mid Cap index gained around 0.9 percent while BSE Small Cap index closed up around 0.2 percent each in today trading.

Sensex Major Resistance on Upside at 26658-26740-26821

Sensex Major Support on Downside at 26452-26328-26246

Trend Deciding Level at 26534

Nifty Index Major Resistance on Upside at 7958-7988-8018

Nifty Index Major Support on Downside at 7876-7824-7794

Trend Deciding Level at 7906

 Major Headlines

 Vascon Engineering board approves the issue of equity shares on right basis up to rs 120 cr

BGR Energy secures new contracts worth Rs 250 cr from Tamil Nadu Transmission Corp

JLR says expect China sales to grow 20% this year

Punjab Communications surged 5.5 percent

Just Dial's board approves rising of funds for an amount up to Rupees One Thousand crore

 Nifty Indices

 The Nifty Index closes at 7928, were up by 49 points. It continues its uptrend as expected and is likely to head towards our short-term target of 8030. On the lower side, 7820 and 7765 remain crucial supports and till these levels hold the short-term trend shall remain up. On the higher side, 7972 and 8030 remain crucial resistance levels. The uptrend line on the hourly chart has held and so we believe that till that is held intra-day traders can continue to take long trades for the above mentioned targets. The uptrend line support for the Nifty is 7875. The Bank Nifty has hit an all-time high which indicates the probability of the pending fifth wave is quite high. This can take the Bank Nifty to 16787. This time there is a reverse divergence as the Nifty has failed to make a new high whereas the Bank Nifty has made it.

In the daily chart the index is trading between the Twenty-day moving averages (DMA) and the Forty-DMA, ie 7937 and 7905 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7861 and 7870 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned positive.

The market duration was turned positive with 809 advances and 688 declines, Unchanged 75 Total Issue 1572 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 7975-8001-8027

Nifty Future Major Support on Downside is at 7907-7865-7839

Trend Deciding Level at 7933

Bank Nifty Major Resistance on Upside at 16554-16633-16712

Bank Nifty Major Support on Downside at 16333-16191-16112

Trend Deciding Level is at 16412

30 Days Simple Moving Averages @ 7984

50 Days Simple Moving Averages @ 7928

150 Days Moving Averages @ 7428

200 Days Simple Moving Averages @ 7120

5-Day Relative Strength Index is at 53 and 14-Day Relative Strength Index at 47 Indicates NIFTY placed in Trading Zone with Bullish Momentum.

Futures Trading Tips

Sell Nifty Fut Oct Intraday below 7942 sl 7970 Tgt 7917-7909

Sell Bank Nifty Oct Intraday Fut below 16438 sl 16510 Tgt 16355-16332

 Weekly Calls

 Buy Canfinhome above 499 sl 478 Tgt 525-550

 Curious Fact

World Development Information Day is celebrated on 24th October every year. The purpose of observing this day is to draw the attention of world public opinion to development problems.

Article Source: https://www.charanwings.com/blog/post/Nifty-Celebrate-Dhanteras-and-Futures-Trading-Tips