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It has been a tough start to the week for the Russell 2000 via (IWM). A bearish end to the week last has been followed by a disappointing Monday. The measured move target marked on my chart offered a launch point for a rally, but this rally quickly got overwhelmed by a former support level, which turned resistance, around $178.

By Caroline Valetkevitch

Gautam Shah, Founder & Chief Strategist, Goldilocks Premium Research, says “we are focussing right now on committing into stocks with quality institutional interest, quality fundamentals, great structural stories, which I do not think will be impacted if the markets were to correct. But on a general basis, on an overall basis, one should be aggressively booking profits in midcaps and smallcaps .” Shah says: “markets have moved to a risk-off mode and pharma could lead the market move from here in terms of strengths and sectors doing well. We have been a big bull on the entire IT pack for a while now. We maintain that stance. So, these two spaces look great. Auto is considered high beta but it has the potential to be a big structural story for the next 6 to 12 months. Every small dip is a buying opportunity there.” 20,000 may be psychological or it may be technical, but so far, it has acted as a swift or a stiff resistance for the market. Do you think we have a top in place at least in the short term and that could be 20,000? Yes, I think we had a top in place because all kinds of ingredients were coming in together to suggest that the market did top out at that level of 20,200.

Reuters, this decision is attributed to the effects of the ongoing United Auto Workers strike, which has now entered its 18th day and has impacted operations at these facilities. Also Read: UAW Strike Hits Demand for Steel The UAW confirmed that it submitted a fresh contract offer to GM on Monday. However, GM responded by stating that they had received the counterproposal, but there were still significant differences to be addressed.

Nifty to sustain above the 19,500 mark to extend Friday’s gains. However, if the index falls below 19,500, analysts anticipate the possibility of additional selling pressure, potentially leading to a decline to 19,200 level. For traders considering long positions, stocks like Bajaj Finance, DLF, Granules, Grasim, Sun Pharma, Hero Motocorp, NTPC, and Tata Power are worth considering. VIRAJ VYAS TECHNICAL & DERIVATIVES ANALYST, ASHIKA STOCK BROKING Where is Nifty headed? Nifty has witnessed a corrective spell last week after touching life-highs in mid-September.

We were well aware of September's historical reputation as a challenging month for the stock market. In fact, when we examine data dating back to 1950 for the S&P 500, it emerges as the most unfavorable month of the year.

The S&P 500 (SPX) recorded the fourth consecutive weekly drop candle after falling 0.7% last week. The index printed the lowest level since the end of May as stocks responded to another bond market selloff.

Binance has rolled out a new referral scheme targeting users in the Africa region. The promotion, which runs from September 18, 2023, 11:00 (UTC) to October 2, 2023, 11:59 (UTC), offers participants a chance to share a total reward pool of 17,500 USDT in token vouchers.

₹5,500 crore during this fiscal year to expand capacity, Amarendu Prakash, chairman, SAIL, said. “Last year, it was at ₹8,000 crore. Since current expenditure includes sustenance projects and de-bottling projects, it will be the same level as previous years, about ₹5,500 crores or so," he said on the sidelines of a conference.

PTI citing sources. The firm has undertaken an exercise to reduce the workforce by about 3,000-3,500 in October by ending duplication in roles across the organization. "Think and Learn Private Ltd (TLPL) restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, online, and hybrid.

Narendra Modi arrived at poll-bound Telangana on Sunday. Pm Modi lay the foundation stone of multiple developmental projects worth more than ₹13,500 crore, in sectors like road, rail, petroleum and natural gas and higher education, in in Mahbubnagar, Telangana.

Biogas Association (IBA) expects around Rs 1,500 crore investment announcement in the biogas segment during 3-day long Renewable Energy India Expo 2023, beginning on Tuesday. The IBA comprises operators, manufacturers, and planners of biogas plants. «Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 crore.

Bank Nifty has not been displaying significant momentum, primarily due to the lackluster performance of the heavyweight HDFC Bank. Rupak De, Senior Technical analyst at LKP Securities, says it may not be advisable to consider shorting until Bank Nifty drops below 44,500. “A decisive decline below this level could potentially drive the index towards 43,800/43,500.

stocks. The S&P 500 and Nasdaq posted their biggest monthly percentage drops of the year, while all three major indexes had their first quarterly declines in 2023. Data showed the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, increased 3.9% on an annual basis for August, the first time in over two years it had fallen below 4%. The Fed tracks the PCE price indexes for its 2% inflation target. Stocks had pushed higher initially after the PCE report but then faded. The data revealed a «better than expected but still elevated inflation picture,» said Eric Freedman, chief investment officer at U.S.

Former Chrysler CEO Bob Nardelli discusses the ongoing negotiation talks between the UAW and the Big Three automakers on The Claman Countdown.

Yesterday was a slam dunk day for the bears as whatever support, such as the retention of 4,325 in the S&P 500, was sliced apart. We are now looking at measured move targets for the Russell 2000 (IWM), S&P 500, and Nasdaq, and tests of their respective 200-day MAs.

Investing.com — The S&P 500 turned negative Friday, as concerns about the impact of a government shutdown forced stocks to give up gains following data showing easing inflation.  

₹13,500 crore in Telangana on Sunday, the prime minister's office said in a statement on Friday. The Prime Minister will also lay the foundation stone of important road projects related to Nagpur–Vijayawada Economic Corridor, inaugurate road projects related to Hyderabad-Visakhapatnam Corridor developed under Bharatmala Pariyojana, lay the foundation stone of key oil and gas pipeline projects and also flag-off the inaugural Hyderabad (Kacheguda)- Raichur-Hyderabad (Kacheguda) train service during his trip to Telangana.

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Investors were also watching developments in Washington to see whether U.S. lawmakers could avert a government shutdown. The recent move in Treasury yields to 16-year highs has loomed over the stock market, which has pulled back after the Federal Reserve last week signaled a hawkish long-term outlook for interest rates. The benchmark 10-year Treasury yield pausing at around 4.6% was bringing «relief,» said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management Co. «Markets in general the last few days have been really, really choppy,» Stucky said. «A little bit of a counter trend rally is to be expected after three or four pretty sharply negative days.» The Dow Jones Industrial Average rose 116.07 points, or 0.35%, to 33,666.34, the S&P 500 gained 25.19 points, or 0.59%, to 4,299.70 and the Nasdaq Composite gained 108.43 points, or 0.83%, to 13,201.28. Among S&P 500 sectors, the communication services group gained 1.2%, while materials rose 1%.

Stock Market Today: Domestic equity benchmarks Sensex and Nifty gave up initial gains and settled lower on Thursday, September 28, tracking volatility on F&O expiry and dragged by weak global cues. The Nifty 50 closed at 19,523.55, down 192.90 points, or 0.98 per cent.