GIFT Nifty 🇮🇳: (+32, 26061)
Today is October F&O expiry day!
Amidst this backdrop, expect Nifty and its stocks to trade volatile.
But the good news is that Nifty is likely to trade with positive bias.
The Biggest Positive Catalyst: The framework set for President Trump and China’s Xi high-stakes summit this Thursday, October 30.
We are positive on markets also on backdrop of 5-catalysts:
1) Cooler US CPI report raises hopes of massive rate cut from the US.
2) Possible trade-deal between the US and China.
3) Constructive FIIs buying in last 2-trading sessions
4) Wall Street at record highs, lifting sentiments across global stock markets.
5) Strong start to Q2 Corporate earning season.
Bottom-line: All bullish eyes set on Nifty’s all-time peak at 26,277.35, which is likely to be sooner rather than later.
For the day, Nifty may reclaim and close above 26100 mark.
The earnings calendar promises to be eventful. Key Earnings on radar this week:
• Tuesday (October 28): TVS Motor Company, Adani Green Energy, Tata Capital, and Shree Cements.
• Wednesday (October 29): Larsen & Toubro, Coal India, Hindustan Petroleum Corporation, and United Breweries.
• Thursday (October 30): ITC, Pidilite Industries, Cipla, Canara Bank, and Dabur India.
• Friday (October 31): Maruti Suzuki India, Bharat Electronics, Shriram Finance, Godrej Consumer Products, and ACC.
Now, before we get into detail of today’s trading session, here is the preferred trade on Nifty and Bank Nifty:
Nifty (25966): Buy at CMP. Stop at 25751. Targets 26100/26277. Aggressive targets at 26700-27000 zone.
Bank Nifty (58114): Buy at CMP. Stop at 56900. Targets 58750/59100. Aggressive targets at 59600-60000 zone.
Our chart of the day is bullish on LAURUS LAB, GRASIM, CANARA BANK and SUN PHARMA on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy LAURUS LAB (CMP 940): Buy at CMP. Stop at 887. Targets 949/971. Aggressive targets at 1003. (Interweek Strategy). Rationale: Laurus reported a strong Q2 FY26 performance, with consolidated net profit soaring multifold to ₹194.97 crore, compared with ₹19.78 crore in Q2 FY25. Key interweek support 871. Major hurdles only at 945 mark. 200-DMA at 707.
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