WATCH: Nifty and Bank Nifty Prediction for the week 28 Oct’24 to 01 Nov’24 by BL GURU

Last week we said that #Nifty can bounce back from its support around 24,400. But that view has gone wrong. The fall last week confirms a head and shoulder pattern on the chart. That leaves the danger of seeing more fall in the short-term. A short-lived recovery is also possible before another leg of fall happens. However, from a big picture there are good chances that we could be in the last leg of this correction. So, we expect the broader uptrend to resume after one more leg of fall from here. #Nifty can fall to 23,500-23,000 on a break below 23,900. After this fall, the overall uptrend can resume. #NiftyBank index can fall to 49,700-49,400 and then rise back to 51,000-52,000 again.

Stock market live today: Economic Calendar – 28.10.2024 

Daylight Saving Time Shift @ U.K. & Europe (13:30 IST)

No Major Macro Data

Stock market live updates: Major U.S. listed stocks result calendar 28.10.2024 

Fomento Economico Mexicano (Pre market) (Sector- Retailer)

ON Semiconductor Corporation (Pre market) (Sector- Technology)

Koninklijke Philips N.V. (Pre market) (Sector- Healthcare)

CenterPoint Energy, Inc. (Pre market) (Sector- Energy)

Waste Management, Inc. (Post market) (Sector- Miscellaneous)

Welltower Inc. (Post market) (Sector- Real Estate)

Cadence Design Systems, Inc. (Post market) (Sector- Technology)

Ford Motor Company (Post market) (Sector- Automobile)

Brown & Brown, Inc. (Post market) (Sector- Financial)

SBA Communications Corporation (Post market) (Sector- Real Estate)

Regency Centers Corporation (Post market) (Sector- Real Estate)

F5, Inc. (Post market) (Sector- Technology)

Encompass Health Corporation (Post market) (Sector- Healthcare)

Mutual fund watch: One in three new equity offers see NAVs fall below ₹10

Several equity new fund offerings (NFOs) launched this year have been on caught the wrong side of the recent market meltdown.

More than a third, or 50 out of 145 such funds, are trading below their net asset values (NAVs), according to data collated from Value Research. Investors purchase units of a new scheme at the face value of the units, which is typically ₹10.

Stock recommendations: Stock to buy today: Thermax (₹5,430.85): BUY

The short-term outlook for Thermax is bullish. The stock surged about 4.9 per cent on Friday and has closed on a strong note. This rise has taken the share price well above a key resistance level of ₹5,300. It also indicates that a new leg of upmove has begun. The level of ₹5,300 will now act as a good resistance-turned-support.