Author: Ajay Ajith

Markets move ahead and close the week in green.

NIFTY opened with a gap-up at 16,300 and mostly moved sideways. Around noon, the index took support near yesterday’s high and then went on to close higher. NIFTY closed the day at 16,352, up by 182 points or 1.13%.

BANK NIFTY started the day at 35,335 with a gap-up. It then kept on moving up throughout the day in a bullish channel. In the process, the index hit its highest level in 3 weeks. BANK NIFTY ended the day at 35,613, up by 518 points or 1.48%.

NIFTY IT recovered in the day along with the Media index. NIFTY Auto, NIFTY BANK, Finserv, and FMCG gained more than 1% each.

Asian markets mostly closed in the green today. European markets are currently trading in the green.

Today’s Moves

TechM(+4.14%), Wipro(+3%) and Infosys(+2.63%) closed in the top-gainers of NIFTY 50 as IT stocks bounced back. This was mostly influenced by the U.S. tech index NASDAQ gaining back yesterday.

HDFC Life(+3.47%) hit its highest level since early February and moved up. Other Finance stocks also did well with IndusInd Bank(+3.10%), and Bajaj Finance(+3.02%) closing in the green.

GAIL and ONGC closed more than 5% in the red ahead of their Q4 results. The stock hit a 4-month low.

PEL fell 11.6% even after posting turnaround profits for the quarter. The stock hit a 52-week low because its financial services lending business reported an internal loss of Rs 321 crore.

Markets Ahead

NIFTY has now gained for the second week in a row despite bearish fears. And this move was majorly led by HDFC stocks.

HDFC Bank, HDFC and HDFC Life moved more than 5% each this week, along with Kotak Bank.

One interesting or worrying thing here is that the NIFTY Smallcap and Midcap indices have fallen again this week, even while most of the market recovered. These stocks are usually the last to move after a crash.

Bank Nifty has filled many gaps and looks bullish right now. If global situations permit, the index may move up further to about 36,800 in the upcoming week after which it will need further strength to breakout. 

NIFTY however is stuck near the price-action based resistance level of 16,400. If we see a gap-up above this zone for Monday, we may see more bullishness. Intraday, the level of 16,500 will need to be crossed.

How did the week go for you? Let us know in the comments of the marketfeed app!

See you all at The Stock Market Show tonight at 7 PM.

V-shaped recovery in the market helps the market close in the green for the first time this week.

NIFTY opened the day at 16,111 with a gap-up and fell. It then broke yesterday’s low and moved down even more below the 16,000 zones. But just before noon, the index bottomed out and eventually started flying up.

After a 300 point move from the day-low, NIFTY closed the day at 16,170, up by 144 points or 0.90%.

BANK NIFTY started the day at 34,689 with a gap-up. The index fell more than 200 points from here but did not go in the red. Massive green candles were formed after 1 PM, and the index moved 800 points up from the day-low. BANK NIFTY ended the day at 35,094, up by 755 points or 2.20%.

NIFTY PSU Bank (+3.1%), NIFTY Metal (+2.6%), NIFTY Bank (+2.2%) and NIFTY Finserv (+1.9%) outperformed in the day. Pharma (+0.11%), FMCG (-0.22%) and Auto (+0.78%) indices closed without much movement as they had already been strong.

Asian markets closed mixed in the day. European markets are currently trading in the green.

Today’s Moves

Tata Steel (+5.2%), JSW Steel (+4.4%)and Hindalco (+2.7%) featured in the top-gainers list after falling heavily for the last 3 days.

SBI (+3.2%) led gains for Public Sector Banks during the day. Bank of Baroda (+4.7%), Central Bank (+5.9%) and IOB (+6.5%) moved.

ITC (-2.2%) closed in the red after factoring in a Rs 6.25/share dividend.

Indigo (+10.3%) shares moved up after plans even after reporting higher net losses for Q4. Shares moved up after the airline said they will increase prices.

Torrent Pharma (+10.1%) rallied after announcing 1:1 bonus issues last quarter even with a Rs 118 crore loss for Q4.

Markets Ahead

Yesterday, during the Fed Minutes Jerome Powell said that the Federal Reserve may not be able to control inflation. And markets shot up.

It is indeed a buy on rumour, sell on type of move that we are seeing. Along with this, short-covering rallies are also giving false strength to the market.

Bank Nifty has filled the gap it created at the beginning of May. But NIFTY still has the range of 16,400 to break.

Yesterday we asked you if the market will trick everyone and shoot up. And that is exactly what happened today. Anyway, a really interesting monthly expiry.

How did the May Monthly Expiry go for you? Let us know in the comments of the marketfeed app!

See you all at The Stock Market Show tonight at 7 PM.

Gap-up fails to save the market as major stocks once again close in the red.

NIFTY opened the day at 16,197 with a gap-up and started falling. The index tried to take support at multiple zones but ended up moving down again. A low was taken near the 16k level and NIFTY closed the day at 16,025, down by 99 points or 0.62%.

BANK NIFTY started the day at 34,492 and shot up. The index traded in the green most of the day while other indices crashed. BANK NIFTY ended the day at 34,339, up by 49 points or 0.14%.

Only NIFTY BANK (+0.14%) and NIFTY FINSERV (+0.68%) closed slightly in the green. NIFTY IT (-3.3%), NIFTY Realty (-2.8%) and NIFTY MEDIA (-2.%) closed well in the red.

Asian markets closed mixed in the day. European markets are currently trading in the green.

Today’s Moves

As NTPC (+3.9%) targets an 86% increase in outputs from its coal mines, the stock shot up.

Life insurance stocks HDFC Life (+2.9%), SBI Life (+2.1%) and ICICI Prudential Life (+2.6%) moved up. 

Kotak Bank (+1.3%) hit its highest level since 2nd February as it continued its breakout.

Asian Paints (-8%) led the fall for painting stocks as crude oil prices stayed strong and Grasim (-1.9%) doubled its capital expenditure plan for paints to Rs 10,000 crores.

Berger Paint (-7.2%), Indigo Paints (-2.8%), Shalimar Paints (-3.3%) also moved down.

Sugar stocks crashed on the day after sugar mills are now required to seek Government approval for exports from next week. Major stocks to fall were Balrampur Chini (-8.8%), Shree Renuka (-6.6%) and Triveni Engineering (-7.7%).

Markets Ahead

There was positivity in the market from financial stocks. Even when NIFTY was near the day-low, the BANK NIFTY index was at its highest in the day.

Kotak Bank has been exceptional and moved up today. It is at its highest level since February 2nd, even when Bank Nifty is down 5,000+ points from that day.

Even though NIFTY has been trading in a 600-point zone for the last 2 weeks, the volatility index(VIX) is really high. 

It is because the major event we have to watch is Fed Minutes for the 4th May meeting that will be out tonight.

Even though recession fears continue, the market is trying to remain stable and sideways. 

Are you expecting a fall from here or a market which tricks everyone and shoots up?

See you all at The Stock Market Show tonight at 7 PM.

Markets close slightly in the red for the second consecutive day.

NIFTY opened the day at 16,225 and did not have much strength. The index kept on being weak even if there were recovery chances. NIFTY closed the day at 16,125, down by 89 points or 0.55%.

BANK NIFTY started the day at 34,250 and shot up. Mostly the index was sideways for the day even after the initial strength. BANK NIFTY ended the day at 34,290, up by 42  points or 0.12%.

Most of the indices were weak today. NIFTY FMCG (-1.3%), NIFTY IT (-1.8%), NIFTY Media (-2.5%), NIFTY Metal (-1.1%), NIFTY Pharma (-1.5%) and NIFTY Realty (-1.2%) moved the most.

All major Asian markets closed in the red. European markets are currently trading in the red.

Today’s Moves

Dr Reddy (+1.6%) saw continued strength after its results announcement last week.

Divis Lab (-6%) closed as Nifty 50 Top Loser, continuing bearishness after announcing its results yesterday. The stock hit a fresh 52-week low.

We have already talked many times about the trendline breakout happening in Kotak Bank (+1.5%). HDFC Bank (+1.1%) also closed in the green.

Ashok Leyland (+3.9%) continued the up move as brokerages remained bullish. Tata Motors (+1%) closed in the green with last hour reversal.

All the stocks from Nifty IT closed in the red led by COFORGE (-3.6%), HCL Tech (-2.6%), INFY (-1.8%), LTI (-3.3%), Mind Tree (-2.5%), and TechM (-3.9%).

Delhivery is listed with a premium of 1.2% at Rs 493/share after its IPO price of Rs 487/share. It closed with good gains at Rs 536, up nearly 10%.

Cement stocks JK Cement (-2.5%), JK Lakshmi (-2.4%), Ramco Cements (-3%) and India Cements (-2.9%) moved down along with Grasim (-3.7%). 

Balrampur Chini Mills (-5.7%) reported Q4 consolidated net profit at Rs 240 crores compared to  Rs 236 crores last year. 

Also, there are reports of export limits on sugar companies. Eid Parry (-2.3%), Renuka Sugar(-6.6%), Dwarikesh Sugar (-5.2%), Dalmia Sugar (-7.6%) and Balrampur Chini Mills (-5.7%) moved down.

ShilpaMed (+10.4%) had a great day after reporting Q4 earnings.

Markets Ahead

Nifty wasn’t giving any directions today and it caused huge volatility. The index fell 140+ pts in the morning and then it recovered 140 pts before 1 pm. 

And then a fall of 180 pts. Out of this, nearly 100 pts fall happened in a single 5-min candle, triggered by European markets.

Bank Nifty again tested the downtrend line today and showed weakness.

We can’t expect the market to reverse all of sudden, but we really want it to be stable. India VIX is trading at the highest level since March 17, which indicates volatility in the market.

UK May Services and Manufacturing PMI data show lower than expected numbers.

Yesterday, Nifty Metal fell heavily as a result of imposing export charges and today sugar stocks fell after the news of the export limit. The government said it will be taking many more actions in the coming months to bring inflation down. 

What are your plans to protect your capital in such a volatile market? Share your thoughts in the comment section below.

See you on The Stock Market Show tonight at 7 PM.

Markets lose the initial gains with a sharp fall afternoon.

NIFTY opened the day at 16,290. The index moved up taking support from the trendline of Friday and shot up, but the 16,400 appeared as the villain. NIFTY fell sharply in the afternoon and closed the day at 16,214, down by 51 points or 0.32%.

BANK NIFTY started the day at 34,321 and moved more than 450 pts to the day high. But who was on the upper side? The index found strong resistance at 34,800 and we saw a sharp fall from there. BANK NIFTY ended the day at 34,247, down by 28 points or 0.08%.

Nifty Metal (-8.1%) was completely crushed down. Nifty Auto (-1.8%), Nifty IT (-1%), Nifty Pharma (-1.3%), Nifty Realty (-1%) closed with moe than a 1% change.

All major Asian markets closed in the green. European markets are currently trading in the green.

Today’s Moves

Metal stocks crashed sharply in the day after a hike in export duty on steel. With this, steel prices are expected to fall in the local market.

Tata Steel (-12.6%), JSW Steel (-13.2%) and Hindalco (-3.7%) fell sharply in the day.

Jindal Steel (-17.3%), NMDC (-12.5%), and SAIL (-10.9%) also fell heavily.

Auto stocks did well in expectation that the lower metal prices and petrol prices would be good for the industry. M&M (+4.2%), Maruti (+4.1%), Hero Motocorp (+1.3%) and Eicher Motors (+1.2%) gained from NIFTY 50.

Divis Lab (-9.4%) crashed after the company’s results announcement. Net profits moved up 78% YoY and beat estimates.

ONGC (-4.2%) went down after the government cut excise duty on petrol and diesel. Reliance (-0.67%) and BPCL (-0.21%) were also under pressure.

Markets Ahead

Metals falling as export duty has been hiked was a big shock for the stocks. Today, that drove many market movements, with just Tata Steel pulling down NIFTY by 20 points.

Excise duty cuts on petrol and metal prices aim to control inflation in the country. This was welcomed by the market with a gap-up opening today.

However, the RBI Governor causing volatility was not welcomed!

Pharma and FMCG stocks are showing strength, but do take caution with stocks like Divi’s Lab which are nearing their results announcements.

See you at The Stock Market Show tonight at 7PM.

See you on The Stock Market Show tonight at 7 PM.

Craziness in the market continues with a big gap-up again after Chinese markets. 

NIFTY opened the day at 16,044 with a gap-up of 234 pts or 1.4%. Opening above 16k was a good sign and the index moved continuously till the day’s end, fueled by the opening of the European market. NIFTY closed the day at 16,266, up by 456 points or 2.89%.

BANK NIFTY started the day at 33,685, with a gap-up of 449 points. It shot up 400 points in just 30 minutes. After struggling around the 34k region the index shot up to test the resistance at 34,350. BANK NIFTY ended the day at 34,276, up by 960 points or 2.88%.

All sectoral indices closed in the green, ledy by Nifty Media (+4.4%), Metal (+4.2%), Pharma (+3.6%), PSU Bank (+3%), Realty (+4.2%), Nifty Auto (+2.7%), Finserv (+2.5%), and FMCG (+2.1%).

All major Asian markets closed in the green. European markets are currently trading around 1.5% up.

Today’s Moves

Dr Reddy’s (+8.1%) moved up sharply in the day and hit its highest level in May. Yesterday, the company reported a sharp drop in profits for Q4.

Reliance (+5.8%) shot up with power as the entire market suddenly turned bullish.

Concor (-5.4%) and GodrejCP (-4.6%) crashed after announcing their Q4 results yesterday. 

Nestle (+4.7%) bounced back from a 52-week low and closed among the top-gainers of NIFTY 50. 

Welspun Corp (+17.2%) moved up after winning their largest order in history for the supply of pipes valued at Rs 5,000 crore (approx) in the US.

Chemcon Speciality (+8.6%) moved up after the Gujarat Pollution Control Board cancelled the closure order of the company’s manufacturing plant.

HDFC (+3%) said that as of May 13, 2022, the total foreign shareholding in the corporation is 68.56% of its total issued and paid-up share capital.

Markets Ahead

An unbelievable case of market volatility. Yesterday we say a fall of nearly 3% and today we are seeing a rally of nearly the same percentage.

The Chinese central bank cut its interest rates and induced a lot of positivity into the Asian markets. Our indices followed along with them and shot up in the day.

The 16,000 zone which was supposed to act as a resistance, became a good support in the day. There is however a good resistance at 16,300 being indicated for NIFTY.

Crude oil prices are staying stable in the $110/barrel range internationally. Stocks which benefit from this, including Reliance, may be strong. Reliance alone contributed more than 110 points to NIFTY today.

See you on The Stock Market Show tonight at 7 PM.

A bearish day for the markets following other global markets.

NIFTY opened the day at 15,942 with a nearly 300 points gap-down. From here, it consolidated before giving a further breakdown at 11 AM. NIFTY took support near the week’s lowest point and closed the day at 15,809, down by 431 points or 2.65%.

BANK NIFTY started the day at 33,552, with a gap-down of 600 points. It was very volatile for the first 2 hours but fell further once the day-low was broken. Even with the decent recovery towards closing, BANK NIFTY ended the day at 33,315, down by 848 points or 2.48%.

All sectoral indices closed in the red. NIFTY IT (-5.7%), NIFTY METAL (-4%) and NIFTY MEDIA (-3.7%) fell sharply. Just NIFTY FMCG (-0.65%) closed somewhat flat for the day.

All major Asian markets closed in the red. European markets are currently trading well in the red.

Today’s Moves

Our markets were bearish following other global peers. Most stocks closed in the red.

ITC (+3.3%) went against the market trend and hit a fresh 52-week high, closing as NIFTY’s top gainer.

IT stocks once again turned bearish in the day following a 5% fall in NASDAQ. Wipro (-6.2%), HCL Tech (-6%), Infosys (-5.4%), TechM (-5.4%) and TCS (-5.4%) fell heavily and were the top 5 losers in NIFTY 50.

Other IT stocks including Coforge (-7.2%), LTTS (-7.1%) and Mphasis (-7%) were among other IT stocks which crashed.

Manappuram (-9.5%) fell to a 2-year low after the lender’s net profit fell 44% for Q4.

JK Lakshmi Cements (+7.2%) shot up in a bearish market after net profit grew 18% YoY for the 4th quarter.

Metal stocks fell sharply with SAIL (-5.2%), Tata Steel (-4.9%), JSW Steel (-4.8%) and Jindal Steel (-4.4%) falling heavily.

Markets Ahead

Till yesterday, things were looking decent for our markets. Then yesterday night, major results announcement from U.S. retail giants upset the Dow Jones index.

We saw our markets opening with a huge gap-down because of this. S&P and Dow Jones Futures down more than 1%.

Because of the gap-down opening, all the put option sellers at 16,000 moved to push the market down further. This was seen in the major indices along with the general bearish.

Let us see if the Domestic Investors support the market as Foreign Institutional Investors continue selling.

A crazy weekly expiry just as we have been having for the past weeks. NIFTY is once again at the important support zone near 15,740. If the global markets continue their bearishness, we might break this zone and things would get worse. Bears will gain strength and the 16,000 mark would be an important resistance to break.

See you on The Stock Market Show tonight at 7 PM.

Market consolidates after yesterday’s strong breakout.

NIFTY opened the day at 16,318, up by 58 pts. Similar to recent days, the 16,400 level acted as a strong resistance and the index fell to the 16,200 range. NIFTY ended the day at 16,240, down by 19 points or 0.12%.

BANK NIFTY started the day at 34,448, up by 146 pts. After the first half consolidation, the index fell sharply towards 34,100 levels, which acted as a good resistance yesterday. BANK NIFTY ended the day at 34,163, down by 138 points or 0.40%.

NIFTY FMCG (+1.2%), NIFTY Pharma (+1%), NIFTY PSU Bank (-1.5%) and NIFTY Realty (-1.7%) were the indices with notable changes.

Japan and Taiwan markets closed in the green while China and Hong Kong closed flat. European markets are currently trading flat.

Today’s Moves

FMCG and Pharma stocks did well during the day. Tata Consumer (+2.7%), Hindustan Unilever (+2%), Cipla (+2%) and Divislab (+1.4%) closed in the top gainers of NIFTY 50 from these sectors.

Granules (+4.9%), Auropharma (+4.4%) and Biocon (+2.2%) were other gainers from the pharma index.

MCX (+6.5%) gained for the third day in a row after announcing their Q4 results. The commodity exchange also said it has received approval from SEBI for introducing monthly options in gold.

IOC (-5.1%) fell sharply after announcing a 26% fall in YoY profit numbers for the last quarter. Hindustan Petro (-4.7%) and BPCL (-3%) hit fresh 52-week lows.

LalPathLab (-6%) hit a fresh 52-week low after announcing poor Q4 results. Meanwhile, Petronet (+4.8%) moved up after reporting a 14% YoY increase in net profits.

Route Mobile (-14.6%) crashed with high volumes after the results announcement, while Sudarshan Chemicals (+20%-UC) shot up during the day.

DeltaCorp (-5.9%) crashed on news that India may levy 28% GST on casinos.

Yes Bank (+4.5%) gained after news that private equity firms Carlyle and Advent are in talks to buy a stake in the bank.

Sugar stocks gained after the Cabinet approved the change of ethanol blending target of 20% in petrol from FY30 to FY26.

Markets Ahead

NIFTY consolidated in the day after yesterday’s breakout. It was interesting to see how Reliance was still in the green and even tried to give a breakout.

Looking at the open interest(OI) data for tomorrow, put addition has happened but we can see far more calls being written in the market today. The 16,400 and 16,500 calls doubled their OI from yesterday, with more than 2 lakh contracts at the latter strike. 

More call options being written indicate the level might act as a resistance tomorrow for the weekly expiry.

In international news, Finland and Sweden submit applications to join NATO. Russia has taken over yet another city in Ukraine as war rages on.

The Indian rupee weakening against the dollar is something we’ll have to be worried about. But clearly, this is giving strength to pharma stocks. 

What are your predictions for the weekly expiry tomorrow? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show tonight at 7 PM.

A strong bounce back by the heavyweights helps NIFTY post best day in 2 months. 

NIFTY today opened outside the downtrend channel at 15,912, up by 70 pts. The index had no confusion and was in a clear uptrend today. After breaking major resistances, NIFTY ended the day at 16,259, up by 417 points or 2.63%.

BANK NIFTY started the day at 33,796, up by 198 pts. After taking support from 33,700, the index moved up till the day-end with some consolidation above the 34k mark. BANK NIFTY ended the day at 34,301, up by 704 points or 2.1%.

Nifty Metal (+6.8%) had an amazing day. All the indices closed in the green with Nifty Auto (+2.4%), NIFTY PSU Bank (+2%), NIFTY Finserv(+2%), NIFTY FMCG (+2%) NIFTY IT (+2.7%), NIFTY Media (+3%) moving the most.

Asian markets closed well in the green. European markets are trading currently with a gain of 1%.

Today’s Moves

Nifty Metal stocks bounced back strongly after falling heavily for many days-  Fueled by China’s reopening plans.

Hindalco (+9.5%) closed as the Nifty 50 top gainer. Tata Steel (+7.7%), Coal India (+7.4%) and JSW Steel (+6.5%) also featured in the list. Hind Copper (+9.9%), National Aluminum (+7.7%), SAIL (+5%), Vedana (+11.7%) moved up.

As we discussed earlier, Nifty Auto is continuing the strength from support levels. Tata Motors (+4.6%), TVS Motors (+3.4%), Maruti (+3.9%), and Eicher Motors(+3.3%) performed well.

Today’s largest contributor to NIFTY, Reliance (+4.2%), closed above the major resistance of 2500. ONGC (+6.2%) also gained as international crude oil prices hit a near 2-month high.

LIC opened with a discount of 8% at Rs 872 vs Rs 949 IPO price and closed at Rs 875.

Tata Power (+6.4%) partnered with Hyundai Motor India to power up EV-charging infrastructure in the country. Most power stocks including Adani Power (+5%), IEX (+4.1%) and JSW Energy (+8%) also moved up.

Many small cap stocks including STL tech (+13.1%), VTL (+12.1%), NLC India (+11.7%), Intellect (+11.1%) closed more than 10% up.

IT stocks gained back in the day with Wipro (+4%), HCL Tech (+3.6%) and TCS(+2.2%) outperforming. LTTS (+8%), LTI (+4.5%) and Mindtree (+4.5%) also gained back well.

Abbott India’s (+6.8%) results stood above estimated levels with a net profit of Rs 210 crores, up 35% YoY.

Star Cement (+8.8%) moved up after reporting Q4 consolidated net profit at Rs 88.4 crores, 90% higher than last quarter.

Markets Ahead

India reported its April Wholesale Price inflation at 15.08%, but this was expected after last week’s inflation data.

NIFTY has taken support and moved back up once again supported mainly by Reliance. There is a dual effect to this as Indian markets tend to get weaker when crude oil prices move up in the short term. Meanwhile, Reliance would do better and push the market up.

Russians firing missiles near the Polish border was also conveniently ignored by the bulls.

NIFTY has recovered and comfortably closed above the 16k mark. It is still more than 500 points away from the 200-day exponential moving average which needs to be crossed for confirmation of trend.

IT stocks have gained back despite global pressure. Bitcoin is also trying to gain after its first 7-week losing streak in history.

Bank Nifty has now created two strong green candles in the daily charts. The 200-day EMA is near the 36,000 mark for the index and needs to be watched out for.

See you on The Stock Market Show tonight at 7 PM.

NIFTY once again takes support at important levels.

NIFTY opened the day at 15,853 and fell 100 points in 5 minutes. At Friday’s low, the index took support and jumped back up to near the 16k mark. The power was not sustained and NIFTY ended the day at 15,842, up by 60 points or 0.38%.

BANK NIFTY started the day at 33,263 and took support at the 33k mark once again. The index showed some strength throughout the day and even went near to Friday’s high. BANK NIFTY ended the day at 33,597, up by 476 points or 1.44%.

Nifty Auto (+2.2%) continued strength while NIFTY PSU Bank (+2.9%) and NIFTY Realty (+2.6%) recovered. 

Asian markets mostly closed well in the green. European markets are trading mixed currently.  

Today’s Moves 

Eicher Motors (+7.6%) jumped to close as NIFTY’s top gainer after the company reported a 16% YoY increase in net profits.

Cement stocks UltraTech Cement (-2.9%) and Shree Cements (-2.5%) closed as the top losers of NIFTY 50 after Adani Group bought Ambuja (+2.4%) and ACC (+3.9%) for a whopping Rs 81,000 crores.

Vodafone Idea (+12.5%) moved up in the day with high volumes as testing of 5G continues.

Balkrishna Industries(+8.6%) moved up after showing good growth in Q4 numbers. Meanwhile, Escorts (+6.1%) gained even after a fall in profit numbers after outlying future growth plans.

Bandhan Bank(+6.6%) gained as asset quality improved with recovery of many Non-Performing Assets(NPAs).

Markets Ahead

NIFTY has taken support at the 15,740 level for the third day in a row and banking stocks once again come to the rescue.

In the mere 60 point gain for NIFTY today, the stocks which contributed the most were HDFC Twins, Kotak Bank and SBI.

NIFTY Midcap and Smallcap continued to outperform the bigger stocks.

The important resistances for NIFTY to look out for this week are 16,000 and 16,080. As Foreign Investors continue selling, it is tough to see how our markets might gain back compared to other global peers.

Tomorrow, we will see the listing of LIC after its huge IPO. The faith of crores of small investors might be tested as the IPO might see a listing loss of nearly 60 rupees. But surely, there are many institutions waiting to pump the stock up.

Will India’s biggest IPO make small investors lose confidence in the stock market? Share your thoughts in the comments section of the marketfeed app!

Markets crash once again following high U.S. inflation data.

NIFTY opened at 16,037 with a gap-down and fell further. Mostly it was a bearish expiry day with the index falling and falling. A low was taken near the Russian crash’s low. NIFTY ended the day at 15,808, down by 359 points or 2.22%.

BANK NIFTY started the day at 34,329 with a gap-down and fell 1% immediately. After breaking the 34k mark, extra bearishness took over. The 33,300 level was taken as support for today and the index bounced back up. BANK NIFTY ended the day at 33,532, down by 1161 points or 3.35%.

All sectoral indices closed in the red. NIFTY PSU Bank (-5.3%) , NIFTY Metal (-3.7%), NIFTY Bank (-3.3%) and NIFTY Finserv (-3%) closed with big losses.

Asian markets closed in the red. European markets are also trading in the red currently.  

Today’s Moves 

IOC (+1.3%) to consider the issue of bonus shares on May 17. It was the only stock to close more than 1% in the green from NIFTY.

Adani Ports (-6.1%) continued its fall as investors got scared with the earnings report being pushed by nearly 2 weeks.

IndusInd Bank (-5.7%), Bajaj Finance (-3.6%), Bajaj Finserv (-3.5%) and HDFC Bank (-3.3%) closed as the top losers of the day.

Meanwhile, PNB (-13.6%) crashed after announcing a 66% drop in net profits.

Markets Ahead

On March 9, NIFTY hit the lowest level of the year at 15,673 and we are very close to that range. Support was taken around that zone today.

Falling below that level could be a lot more alarming scenario, but Nifty staying in the 15,600-900 consolidation region is truly a great relief. Just zoom out to this time last year to understand how the index behaved in these levels.

BANK NIFTY was saving the market for many days now. But today, banks also lost patience, and the index fell by 3.3%. The fall in Nifty was a triggering factor for other indices also.

Nearly 80% of Nifty 50 stocks are trading below their 200-Day Exponential Moving Average, most stocks have broken their supports. 

Indian Rupee remains weak against the US Dollar, Global markets are falling, no clear updates from Ukraine Russia war, Rising inflation -everything is favouring the bear market! When the market is bearish, reasons are plenty!

The CPI Inflation data will be out soon, and a higher inflation value is expected. If the inflation remains high, it may lead to another interest rate hike in the coming months. This thought is preventing many investors from huge buying in these dips. 

Which level of Nifty do you trust the most to deploy 100% of your capital for a long position and why? Share your thoughts in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Financial stocks once again continue to outperform the general market.

NIFTY opened at 16,277 and fell after failing to move up. There was bearishness in the index and it somehow took support at the 16,000 mark. The afternoon recovery was strong and NIFTY ended the day at 16,167, down just by 73 points or 0.45%.

BANK NIFTY started the day at 34,691 with a gap-up. The index fell more than 500 points by 1 PM. The afternoon recovery took the index to a fresh day-high by closing time. BANK NIFTY ended the day at 34,693, up by 210 points or 0.61%.

NIFTY IT (-1.2%) fell the most in the day. All other sectoral indices consolidated.

Asian markets mostly mixed during the day. European markets are up in the green currently.  

Today’s Moves 

ONGC (+2.6%) closed as the top-gainer in NIFTY 50 as international crude oil prices recovered overnight. Gujarat Gas (+6%), MGL (+2.3%) and other gas stocks also moved up.

L&T (-2.3%) fell to a fresh 9-month low.

Indiabulls Housing Finance (-20.5%) dropped sharply in the day ahead of its results.

CanFin Homes (-4.3%) and RBL Bank (-4.2%) fell sharply as well.

DCAL fell 20% after poor Q4 numbers.

Markets Ahead

Confusion in the market continues. Banks are showing strength with stocks like Kotak Bank continuing their breakouts.

Consumer Price Inflation data can be expected tomorrow after market hours and is expected to be very high. The sudden interest rate hike by RBI last week is also said to have been because of this high inflation prediction.

The U.S. will publish its inflation data tonight. We will have to see how their markets react to it, with Dow Jones Futures now nearly 1% in the green. 

16,000 was taken as support, and it looks like domestic institutional investors are trying their best to keep the index above this zone. Also, Reliance is down 15% in 2 weeks. If international energy prices do recover, we may see a recovery in the stock.

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See you all today at 7 PM on The Stock Market Show.