Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities

Market conditions for Nifty and Bank Nifty are challenging, with Nifty at 19,080 and Bank Nifty at 42,846. Despite stable US bond markets and oil prices, the sentiment on Dalal Street is down. Selling Nifty at the current market price is advised, with targets at 19,000/18,827 or more aggressively at 18,605. Bank Nifty should also be sold at the current price, targeting 42,398/42,000 or a more aggressive range of 41,500-41,801. However, there's a positive outlook for SBI LIFE, CANARA BANK, PNB, and COAL INDIA amidst intraday weaknesses. Additionally, SBI LIFE at the current price of 1,368 is recommended for purchase, targeting 1,395/1,411 or a more aggressive 1,451. The focus remains on the FOMC outcome, expected on November 1st, where the Federal Reserve is anticipated to maintain unchanged interest rates, although a deviation in the consensus might affect future decisions. Investors are cautioned to stay on the sidelines due to uncertainty and risk stemming from significant FIIs selling in October.