Summary of Nifty Rejected 17800 Again? Post Market Report 25-Oct-22

00:00:00 - 00:05:00

The video discusses the potential for a rally in the stock market, as 17800 has been rejected twice. The support for 18200-18300 is still present, and the trader has begun selling put options below 16800.

• 00:00:00 The markets opened higher and in fact yesterday I tweeted that Nifty knows something that we do not know again and again it is going above 17 800. Today the pre-market Nifty indicated opening above 17 800. Right within few seconds of opening the markets came into selling pressure and yesterday also it was rejected from 17800 Plus. Today also, once again it has been rejected so very clearly 17 800 is going to be a resistance for the start term and banking stocks particularly that came under a good profit booking. I think the banking stocks were very very volatile and today in the pre-market I said if the markets are falling then the two stocks to watch will be contact bank and uh Reliance. I think both the stocks fell significantly dragging the index down but surprisingly all the PSU Banks start up like anything and not only PSA Banks even the bhel well the bank Nifty was down about one percent but PSC Bank index is up by 3.5 percent and state bank today hit fresh all-time high and BHL has broken out I think it's a multi-year high now in the afternoon European market opened they opened slightly negative and U.S features were also volatile and so our market also you know usually every Tuesday is very very very volatile for our
• 00:05:00 The video discusses the potential for a rally in the stock market, as 17800 has been rejected twice. The support for 18200-18300 is still present, and the trader has begun selling put options below 16800.