A fourth straight decline left India's Nifty 50 at 22,600 on Friday, Oct. 23, as LiveMint reported three stock calls for Monday from Sumeet Bagadia, Choice Broking's executive director and head of technical research.
LiveMint attributed the index levels to Bagadia, describing his outlook as cautious: he set support at 22,350–22,400 and resistance at 22,750–22,800. The outlet reported a Nifty intraday low of 22,372, within the stated support band, and a decline of 87.65 points. The Sensex finished at 73,124, down 0.17%, News On AIR reported.
The calls were for the Monday, Oct. 26 session. LiveMint listed an entry level of ₹317 for Eternal, with a ₹350 target and a ₹300 stop-loss. National Stock Exchange of India (NSE) data list the stock's Friday close at ₹317.40. LiveMint linked the setup to a price near its 100-day exponential moving average and a daily candle resembling a bullish engulfing pattern.
For Apollo Hospitals Enterprise, LiveMint gave an entry of ₹7,730, a target of ₹8,500 and a stop-loss of ₹7,350; the NSE close was ₹7,730. The report cited a weekly chart pattern in which highs and lows had moved upward over time. EconoTimes previously covered differences in technical support readings for Apollo Hospitals.
The reported Maruti Suzuki India levels were ₹11,230 for entry, ₹12,300 for a target and ₹10,700 for a stop-loss, matching the NSE's closing price. LiveMint said Bagadia identified support near ₹11,000 and noted a hammer-shaped candle on the chart.
The LiveMint report also attributed a relative strength index (RSI) reading of 42.38, compared with its 40.28 average, and a put-call ratio of 0.74 to Bagadia.
Maruti Suzuki's investor-events calendar lists a board meeting for Tuesday, Oct. 27, to consider results for the quarter ended Sept. 30.
