INDIAN BENCHMARKS: NIFTY ENDS OCT SERIES ABOVE 10300 SENSEX ENDS UP 104 POINTS NIFTY UP 48 POINTS

Equity benchmarks ended at fresh record closing high on last day of October series.
The 30-share BSE Sensex rose 104.63 points to 33,147.13 and the 50-share NSE Nifty was up 48.40 points at 10,343.80.

Maruti Suzuki, HDFC, L&T, Vedanta, Bharti Infratel, IOC, HPCL, BPCL, Cipla, Yes Bank and Sun Pharma gained 1-5 percent.
HCL Technologies, SBI, ICICI Bank, TCS, Indiabulls Housing and TCS fell 1-5 percent.

HEADLINES OF THE DAY
Engineers India stock zooms 8% after Q2 FY18 PAT rises 27%
Castrol India to consider bonus issue on Nov 7
Jubilant Foodworks Q2FY18 standalone net profit rises 124.5% yoy to Rs.48.5 crore

The crucial resistance for Nifty spot is now seen at 10360 and above this 10521.Support for the immediate term is now placed at 10220 and next support will be 10140.

UPCOMING RESULTS: IOC, KSCL, HEIDELBERG CEM, CANBK, ITC, MARUTI, PVR, SPARC, NAVIN FLUORINE

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Sensex, Nifty clock fresh record highs; 5 factors fuelling the rally

The Indian market soared to a fresh record high on Wednesday as investors cheered multiple factors such as bank recapitalisation plan, a few other global and technical factors.

The 30-share BSE Sensex saw a gap-up opening of 456.55 points, or 1.40 percent, at 33,063.89 and the 50-share NSE Nifty rose 104.80 points, or 1.03 percent, to 10,312.50. But investors have looked to book profits from that point, as indices have cooled off from the record highs.

Sundaram Mutual Fund believes that the bank recapitalisation plan of the government is a very long awaited step by the government. “They had to take the bull by the horns and it has taken the massive step to put this capital. This changes the framework with which an investor would look at banking and financial space. Structurally, they are back in the game,” S Krishna Kumar, CIO Equity, Sundaram Mutual Fund told CNBC-TV18 in an interview, adding that the risk profile of PSU banks will get a lot better.

out five factors that is driving the markets today.

Bank recapitalisation

Bharatmala push

Stable global cues

Broader market leading the charge

Technical take

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CS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 17 OCT 2017

CS NIFTY FUTURES (OCT) OVERVIEW

TREND BULLISH

RES2:10370

RES 1:10280

SUP1:10170

SUP2:10100

CS BANK NIFTY FUTURES (OCT) OVERVIEW

TREND BULLISH

RES 2:25230

RES 1:25086

SUP1:24580

SUP2: 24310

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CS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 16 OCT 2017

CS NIFTY FUTURES (OCT) OVERVIEW

TREND BULLISH

RES2:10350

RES 1:10285

SUP1:10215

SUP2:10145

CS BANK NIFTY FUTURES (OCT) OVERVIEW

TREND BULLISH

RES 2:24980

RES 1:24900

SUP1:24715

SUP2: 24635

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