Author: Amal M Prashanth

Categories
Daily Market Feed Pre Market Report

Crazy OI in Nifty! Short Covering Loading? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Tata Communications reported a 30% fall in net profit at Rs 382 crore for the first quarter ended June. Revenue from operations, however, jumped 11% to Rs 4,771 crore.

Shares of  HUL, Infosys, Havells, and United Spirits will be in focus today as the companies will announce their first quarter results today.

Federal Bank has launched a QIP (qualified institutional placement) issue and fixed Rs 132.59 as the floor price.

What to Expect Today?

NIFTY opened with a gap-up at 19,810 and moved up. The index saw a down-move and there was a recovery in the second half leading to a volatile day. NF closed at 19,833, up by 84 points or 0.42%. 

BANK NIFTY opened with a gap-up at 45,650 and traded in a range of 200 points. There was an up-move at 3 PM and the index closed at 45,670, up by 258 points or 0.57%.

IT moved up by 1.06%. 

The US markets closed in the green. The European markets closed mixed with DAX closing flat and FTSE rallying.

The Asian markets are trading mixed.

The U.S. Futures and European futures are trading mixed.

GIFT NIFTY is trading at 19,835.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,820, 19,765, 19,740 and 19,725. We can expect resistances at 19,850, 19,900 and 19,950.

BANK NIFTY has supports at 45,485, 45,430 and 45,280. Resistances are at 45,715, 45,750, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,800. 

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,500.

Foreign Institutional Investors net-bought shares worth Rs 1,200 crores. Domestic Institutional Investors also net-bought shares worth 2,100 crores.

INDIA VIX is at 11.6.

Though Bank Nifty was range bounded and did not see a strong 3 PM rally, unlike Nifty, the index outperformed Nifty. Reliance saw a big move before the demerger.

There will be a special session to decide the post-merger price of Reliance. Reliance will start trading only after 10 AM. We can expect Jio Financial Services to be listed in the market in four months.

Watch 1674 and 1688 in HDFC Bank. The IT giants consolidated after a fall in the morning. 

Look at the call OI build-up at 19,850 CE in Nifty. It is so huge despite being a strike just 17 points away from the spot. Imagine the magnitude of short covering that could happen if that level is broken.

In case that happens, see where BN can rally to. The index has been suppressed by the option sellers leading to a range-bound day. A move out of the zone could be a big one.

No major data are coming out this week. Let us focus on the Reliance demerger. UK CPI came out slightly better than the estimates.

I will watch 19,765 on the downside in NIFTY. 19,850 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Profit Booking! More Up-move Loading? Pre Market Analysis

Up light arrows and speed lines on dark blue background, copy space composition, growth competition technology concept.

Here are some of the major updates that could move the markets today:

Stocks

ICICI Lombard‘s net profit increased 12% year-on-year to Rs 390 crore for the first quarter ended June.

Himadri Speciality has reported net profit of Rs 86 crore in the first quarter. Revenue from operations, meanwhile, came in at Rs 951 crore.

Shares of Tata Communications, L&T Finance, and Bank of Maharashtra will be in focus as the companies will announce their first quarter results.

What to Expect Today?

NIFTY opened with a gap-up at 19,798 and had a volatile day. The index moved in a range of 200 points and closed at 19,749, up by 38 points or 0.19%. It was long unwinding we saw in Nifty as profit booking kicked in.

BANK NIFTY opened with a gap-up at 45,794 and formed a double top. There was a huge down-move to 45,370 and a bounce that got sold off quickly. BN closed at 45,410, down by 38 points or 0.09%.

IT moved up by 1.06%. 

The US markets closed well in the green. The European markets also closed higher.

The Asian markets are trading mixed.

The U.S. Futures and European futures are trading mixed.

GIFT NIFTY is trading flat at 19,800.

All the factors combined indicate a flat to gap-up opening.

NIFTY has supports at 19,690, 19,600, 19,500 and 19,450. We can expect resistances at 19,820, 19,850 and 19,800.

BANK NIFTY has supports at 45,370, 45,230 and 45,000. Resistances are at 45,650, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,600. 

BANK NIFTY has the highest call OI build-up at 45,500. The highest put OI build-up is at 45,000.

Foreign Institutional Investors net-bought shares worth Rs 2,100 crores. Domestic Institutional Investors also net-bought shares worth 1,300 crores.

INDIA VIX moved up by 4% to 11.7.

That intraday red candle would have been a surprise to the bullish players. The indices moved down all of a sudden. Though there was a recovery move, it was quickly sold off. 

It was a volatile day. However, option buyers who could execute the entries and exits well would have been able to land in profits. Option sellers who could not cut losses quickly would have found it hard to adjust the strikes and end in green.

US Retail sales came out less strong than expected.

It could be a buy-on-dip day as some profits booking has already happened. The candle on Monday was so big that the bulls would protect their positions vigorously.

There are strong support zones in BN and there could be a down-move followed by a recovery trapping the bears.

I will watch 19,650 on the downside in NIFTY. 19,820 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Can We Get a Follow-up? – Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

LTIMindtree has reported consolidated net profit of Rs 1,151 crore for the quarter ended June, which is higher by 4% year-on-year.

Tata Elxsi has posted a meagre 2% rise in net profit at Rs 189 crore for the first quarter ended June. Revenue from operations during the quarter, however, rose 17%.

HPCL said India’s gasoline demand will likely recover from late August, while diesel consumption is expected to stay weak.

What to Expect Today?

NIFTY opened flat at 19,590 and rallied. There was a huge up-move once BN joined and short covering took Nifty to another all-time high. The index closed at 19,711, up by 147 points or 0.75%.

BANK NIFTY opened with a small gap-up at 44,965 and moved down. The index consolidated in a range for a long time and then gave a quick rally. BN closed at 45,450, up by 630 points or 1.41%.

IT moved up by 0.31%.

The US markets closed higher and the European markets closed in the red.

The Asian markets are trading mixed.

The U.S. Futures and European futures are trading lower.

GIFT NIFTY is trading higher at 19,773.

All the factors combined indicate a flat to gap-up opening.

NIFTY has supports at 19,600, 19,500 and 19,450. We can expect resistances at 19,750 and 19,800.

BANK NIFTY has supports at 45,370, 45,230 and 45,000. Resistances are at 45,650, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,600. 

BANK NIFTY has the highest call OI build-up at 45,500. The highest put OI build-up is at 45,000.

Foreign Institutional Investors net-bought shares worth Rs 70 crores. Domestic Institutional Investors also net-bought shares worth 60 crores.

INDIA VIX spiked by 6% to 11.3.

It was a huge rally that happened yesterday and Bank Nifty has covered the entire range of red candles with a single green candle. One day is all it took to kill the bears. Let us see if there is a follow-up.

NF is approaching 20K. As you know, it took a long period for NF to reach 19K from 18K and it seems like NF is compensating for the same.

HDFC has fired up after the results came out better than expected despite a rise in NPA.

Since it is an unexplored terrain, we do not know where resistances in Nifty are. Let us closely watch the resistances in Bank Nifty. 

Looking at the structure, it could be a buy-on-dip day as it is huge buying that is happening.

Traders with bearish view will have to stick to their small SL plan today to avoid extending their losses.

I will watch 19,600 on the downside in NIFTY. 19,800 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Eyes on HDFC Bank – Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Avenue Supermarts Ltd reported a mere 2% rise in net profit for the quarter ended June to Rs 695 crore, despite a double-digit growth in revenue.

Shares of HDFC Bank, LTIMindtree, and Tata Elxsi will be in focus today as the companies will announce their first quarter results.

Leading broker Angel One has been from onboarding new authorised persons (APs) for alleged failure to monitor the operations of its APs.

What to Expect Today?

NIFTY opened with a gap-up at 19,495 on Friday. There was weakness in the morning due to the long unwinding on Thursday. The market picked up and rallied, especially in the last hour. NF closed at 19,564, up by 151 points or 0.78%.

BANK NIFTY opened with a gap-up at 44,861. It was a down-trending day till 3 PM. There was a huge up-move at 3 PM and BN closed at 44,819, up by 154 points or 0.35%.

IT shot up by 4.5%.

The US markets and the European markets closed mixed with a negative bias.

The Asian markets are trading lower.

The U.S. Futures and European futures are trading lower.

GIFT NIFTY is trading at 19,633.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,500, 19,450 and 19,385. We can expect resistances at 19,600, 19,650 and 19,700.

BANK NIFTY has supports at 44,650, 44,500 and 44,440. Resistances are at 44,950, 45,100 and 45,370.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,500. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500.

Foreign Institutional Investors net-bought shares worth Rs 2,600 crores. Domestic Institutional Investors net-sold shares worth 800 crores.

INDIA VIX is at 10.7.

We were expecting a tick mark-like price action as we discussed on Friday’s Pre Market Analysis. The reason is that there was long unwinding on Thursday. The market moved exactly like a tick mark but there was a huge up-move at 3 PM.

Bank Nifty saw immense short covering towards the end. Will there be a continuation to the up-move? 45,000 is going to be the testing zone.

India’s Wholesale Price Inflation came out at -4%, better than expected. As we discussed earlier, negative figures are fine for now.

We do not have major events this week from the global front. However, there are results coming out and more importantly, Reliance demerger.

HDFC Bank will announce their results today. Let us watch the stock closely. It is more important this time as the weightage has increased.

I will watch 19,385 on the downside in NIFTY. 19,600 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Is it Time to Exhibit Strength? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Wipro reported a nearly 12% year-on-year (YoY) rise in consolidated net profit for the quarter ended June to Rs 2,870 crore. Consolidated revenue increased 6% to Rs 22,831 crore.

Shares of Bandhan Bank, JSW Energy and Just Dial will be in focus today as the companies will report their first quarter results.

Shares of Senco Gold will debut on the exchanges today after a strong response for its IPO.

What to Expect Today?

NIFTY opened with a gap-up at 19,469 and rallied heavily. The index formed a new All-time high and consolidated at the top. There was a huge fall in the second half and the index closed at 19,413, up by 29 points or 0.15%.

BANK NIFTY opened with a gap-up at 44,894 and moved higher. The index faced resistance near 45,100 and started falling slowly. 44,940 was broken and the fall intensified. BN closed at 44,665, up by 26 points or 0.06%.

IT closed 1.75% higher.

The US markets and the European markets closed higher.

The Asian markets are trading higher.

The U.S. Futures and European futures are trading lower.

GIFT NIFTY is trading flat at 19,555.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,360, 19,320, 19,265 and 19,200. We can expect resistances at 19,435, 19,500, 19,550 and 19,600.

BANK NIFTY has supports at 44,560, 44,440 and 44,280. Resistances are at 44,720, 44,950, 45,100 and 45,370.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500.

Foreign Institutional Investors net-bought shares worth Rs 1,200 crores. Domestic Institutional Investors net-sold shares worth 2,200 crores.

INDIA VIX is at 10.9.

The story we discussed on the Stock Market Show played out yesterday. We were expecting the put OI to increase with a possible up-move and in case that happens, it would be the perfect recipe for a fall.

There were stiff resistances for Bank Nifty and those played their role. When long unwinding joined, there came the big fall.

Let us see if we get an up-move today because that is what we usually see after long unwinding. At the same time, we cannot expect a very big up-move, unlike it happens during short covering.

The global markets are supportive as of now. Looking at data and cues, there is no weakness. US PPI came out at its best in three years.

I will watch 19,360 on the downside in NIFTY. 19,500 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Global Markets Fire Up! Nifty to Follow or Fall? Pre Market Analysis

Up light arrows and speed lines on dark blue background, copy space composition, growth competition technology concept.

Here are some of the major updates that could move the markets (NIFTY) today:

Stocks

HCL Technologies Ltd reported a nearly 8% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 3,534 crore.

Dr Reddy’s Labs announced that its Biologics License Application (BLA) for its proposed biosimilar rituximab candidate DRL_RI has been accepted for a substantive review by USFDA.

Technology major TCS reported a nearly 17% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 11,074 crore.

What to Expect Today?

NIFTY opened with a gap-up at 19,508 yesterday. It was crazy price action that we saw in Nifty. The markets moved down and closed at 19,384, down by 55 points or 0.28%.

BANK NIFTY opened flat at 44,888 and exhibited range-bound volatility. The index fell finally and closed at 44,639, down by 106 points or 0.24%.

IT closed 0.71% lower.

The US markets and the European markets rallied.

The Asian markets are trading higher.

The U.S. Futures and European futures are trading higher.

GIFT NIFTY is trading 130 points higher at 19,555.

All the factors combined indicate a gap-up opening.

NIFTY has supports at 19,360, 19,320, 19,265 and 19,200. We can expect resistances at 19,435, 19,500, 19,550 and 19,600.

BANK NIFTY has supports at 44,560, 44,440 and 44,280. Resistances are at 44,720, 44,950, 45,100 and 45,370.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500.

Foreign Institutional Investors net-sold shares worth Rs 1,200 crores. Domestic Institutional Investors net-bought shares worth 400 crores.

INDIA VIX is at 10.9.

Though the US markets closed in the green, you can see that Dow Jones had broken the day-low in the second half. The up-move was contributed by the IT stocks mainly.

See how Reliance reversed in the second half yesterday. Keep an eye on Previous-day-low.

HDFC merger will get completed today and there will be volatility because of inflows and outflows.

HCL Tech and TCS have announced their results as mentioned above. See how the stocks perform keeping positivity in the global IT stocks in mind.

There are strong resistances and supports in the market. OI says there are strong resistances rather than supports and this means there could be proper short covering in case there is a good up-move.

I will watch 19,360 on the downside in NIFTY. 19,500 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Divergence! Selling to Continue? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Shares of TCS and HCL Tech will be in focus as the companies will announce their first quarter earnings today.

Adani Enterprises has raised Rs 1,250 crores by allotment of 125,000 secured, unrated, unlisted, redeemable, non-convertible debentures.

Mahindra and Mahindra reported total sales of Rs 59,924 units for the month of June. This compares with 51,319 units sold in the same month last year.

What to Expect Today?

NIFTY opened with a gap-up at 19,431 yesterday and rallied. The index almost touched all-time high and then fell. The index broke the major levels and closed at 19,439, up by 84 points or 0.43%.

BANK NIFTY opened with a gap-up at 44,998 and rallied. There was resistance taken at 45,100, the hourly chart level and gave a huge fall after breaking 44,940. There was another 300 points fall and BN closed at 44,745, down by 116 points or 0.8%.

IT closed 0.45% higher.

The US markets closed higher. The European markets also closed higher.

The Asian markets are trading mixed with Nikkei trading 0.7% lower.

The U.S. Futures and European futures are trading flat.

GIFT NIFTY is trading 65 points higher at 19,550.

All the factors combined indicate a gap-up opening.

NIFTY has supports at 19,400, 19,320, 19,265 and 19,200. We can expect resistances at 19,500, 19,550 and 19,600.

BANK NIFTY has supports at 44,800, 44,500 and 44,280. Resistances are at 44,950, 45,100, 45,370 and 45,660.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,400. PCR is 0.9.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500. PCR is 0.6.

Foreign Institutional Investors net-bought shares worth Rs 1,200 crores. Domestic Institutional Investors net-sold shares worth 7 crores.

INDIA VIX is at 11.

There was divergence yesterday as you can see on the chart. Bank Nifty broke the day-low and closed in the red whereas NF protected the day-low and closed in the green.

Option sellers who delayed their exit might have landed in trouble.

Bank Nifty had three weak red candles in the day-chart. Do you think this is going to be a pull-back and another trending move is to come? Probably, the selling can continue. It seems that the buyers are slowly losing control in the market.

Germany inflation came out as expected at 6.1%.

US Inflation will be released today. The figure is expected to ease from 5.3% to 5.1% and it will be out at 6 PM IST.

Our inflation data also will be out today at 5:30 along with Industrial production data and Manufacturing Output.

Note that Bank Nifty looks bearish and a further sell-off can be expected in the coming days. Will divergence come to an end by Nifty joining the party?

I will watch 19,400 on the downside in NIFTY. 19,525 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

 Can the Gap-up Sustain? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Vadilal Industry has clarified on reports that Bain Capital is looking to buy a stake in the company. It said there is no such information

Shares of JSW Steel and Dr Reddy‘s will be in focus today as the companies will turn ex-dividend.

Tata Communications arm has entered into a share purchase agreement to acquire remaining equity ownership of Oasis Smart Sim Europe SAS.

What to Expect Today?

NIFTY opened with a gap-up at 19,405 and moved up to take resistance at 19,435. It was a range-bound day but there was volatility. NF closed at 19,356, up by 24 points or 0.12%.

BANK NIFTY opened flat at 44,980 and showed some deviation from the general market. After volatile moves, the index closed at 44,680, down by 64 points or 0.14%.

IT moved down by 1.2%.

The US markets closed higher. The European markets also closed in the green.

The Asian markets are trading higher.

The U.S. Futures and European futures are trading flat to green.

GIFT NIFTY is trading 90 points higher at 19,490.

All the factors combined indicate a gap-up opening.

NIFTY has supports at 19,320, 19,265 and 19,200. We can expect resistances at 19,400, 19,435 and 19,520.

BANK NIFTY has supports at 44,800, 44,500 and 44,280. Resistances are at 44,950, 45,100, 45,370 and 45,660.

FIN NIFTY has supports at 20,000, 19,950 and 19,880. We can expect resistances at 20,100, 20,165, 20,250 and 20,315.

NIFTY has the highest call OI build-up at 19,400. The highest put OI build-up also is at 19,400. PCR is 0.7.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up also is at 45,000. PCR is 0.7.

FIN NIFTY has the highest call OI build-up at 20,200. The highest put OI build-up is at 20,000. PCR is 0.6. 

Foreign Institutional Investors net-bought shares worth Rs 600 crores. Domestic Institutional Investors net-bought shares worth 300 crores.

INDIA VIX is at 11.5.

There is positivity in the global markets. Let us see if there is an impact on our markets.  There has been some negativity in the price action in our markets. There will be a gap-up opening but we will have to see if this gap-up sustains.

Hope you remember how the expiry day was for option sellers on last Tuesday. Be careful while you are adjusting your positions.

For option buyers, it would have been a good day if you were able to switch the views yesterday. 

There was some divergence in BN and NF yesterday but overall price action was similar.

Germany inflation will be out today.

We have major events tomorrow. Watch the US markets closely tonight.

I will watch 19,265 on the downside in NIFTY. 19,435 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Correction Phase? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Reliance Industries has fixed July 20 as the record date for the demerger of its financial services arm Reliance Strategic Investments.

Hindustan Zinc‘s Board has approved an interim dividend of Rs 7 per equity share for the current financial year which will incur an expenditure of Rs 2957 crore for the Vedanta subsidiary.

BajajAuto said bookings for the newly launched Speed 400 and Scrambler 400x have crossed 10,000. The company is looking to ramp up production due to overwhelming response.

What to Expect Today?

NIFTY opened with a gap-down at 19,443 on Friday. There was an up-move to hit 19,520 but then profit booking kicked in. 19,435 was broken on the downside and the index continued the down-move. NF closed at 19,332, down by 166 points or 0.85%.

BANK NIFTY opened with a gap-down at 45,147 and had a bearish day. BN closed at 44,925, down by 415 points or 0.92%.

IT moved down by 0.8%.

The US markets closed in the red. The European markets ended mixed.

The Asian markets are trading higher except for NIKKEI.

The U.S. Futures and European futures are trading slightly lower.

GIFT NIFTY is trading 25 points lower at 19,410.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,320, 19,265 and 19,200. We can expect resistances at 19,375, 19,435 and 19,520.

BANK NIFTY has supports at 44,800, 44,500 and 44,280. Resistances are at 45,100, 45,370 and 45,660.

FIN NIFTY has supports at 20,000, 19,950 and 19,880. We can expect resistances at 20,165, 20,250 and 20,315.

NIFTY has the highest call OI build-up at 19,400. The highest put OI build-up also is at 19,400. PCR is 0.7.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up also is at 45,000. PCR is 0.7.

FIN NIFTY has the highest call OI build-up at 21,000. The highest put OI build-up is at 19,500. PCR is 0.6. The next largest OI is at 19,800 PE and 20,300 CE.

Foreign Institutional Investors net-bought shares worth Rs 9,000 crores. Domestic Institutional Investors net-sold shares worth 7,000 crores.

This week is going to be crucial as there are going to be rebalancing moves regarding HDFC Bank. The merger will come into effect on 13th July and MSCI will do the replacement. Note that this is an expiry day.

Has correction begun? We have had a steep rally for which the retracement can also be big. Profit booking has begun and we have to see how long it can continue.

We have some Fed officials’ speeches tonight. 

Watch the IT stocks as the results are going to be out soon, starting from Wednesday and we are expecting weak results.

If Nifty opens flat, wait for a while before jumping into the trades. See how the initial price action is. It could be a small rise and then a fall or an immediate down-move if it is a correction phase that the market has stepped into.

I will watch 19,265 on the downside in NIFTY. 19,435 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed

Dalal Street Week Ahead: Nifty Analysis For July Second Week

LAST WEEK

NIFTY opened the week with a gap-up at 19,253 and rallied. The up-move continued on Tuesday but there was consolidation on Wednesday with 19,375 zone as support. The index broke Tuesday’s high of 19,435, retested and moved up on Thursday. There was a correction on Friday and the index closed at 19,331, up by 143 points or 0.74%.

BANK NIFTY opened with a gap-up at 44,985 and had an 800 points range last week. 45,370 acted as resistance though there was a breakout to hit 45,800 on Tuesday. There was an immediate rejection followed by consolidation. 45,370 acted as a resistance on Thursday as well. There was profit booking on Friday and BN closed at 44,925, up by 178 points or 0.4%.

IT closed flat.

Foreign Institutional Investors net-bought shares worth Rs 9,000 cr last week.

Domestic Institutional Investors net-sold shares worth Rs 7,000 crores.

The global markets moved down last week. The US markets closed 2-3% in the red and the European markets closed 3-4% lower. The Asian markets also closed 2-3% lower except for the Chinese markets.

MONDAY

Gift Nifty replaced Sgx Nifty.

US markets had a half day on Monday and an off on Tuesday on account of Independence day.

India Manufacturing PMI came out at 57.8 against an expectation of 58. Still, it is an expansion.


TUESDAY

It was an insane premium move on Tuesday and option sellers might have lost big.

Services PMI came out at 58.5 lower than the estimate of 60.5.

WEDNESDAY

Fed Minutes said that there will be hikes in the future though at a slower pace to control inflation. Minutes hit the markets negatively because it revealed that the decision to pause was not unanimous and there were so many members standing for hikes.

THURSDAY

Beautiful price action in Nifty breaking 19,435.

FRIDAY

Aggressive shifting of call OI to 45,000, 45,100 and 45,200. This led to some short covering in the second half but the bears won it in the end.

Gift Nifty is at 19,385.

INDIA VIX is at 11.5.

WEEK AHEAD

NIFTY has supports at 19,320, 19,265 and 19,200. We can expect resistances at 19,375, 19,435 and 19,520.

BANK NIFTY has supports at 44,800, 44,500 and 44,280. Resistances are at 45,100, 45,370 and 45,660.

FIN NIFTY has supports at 20,000, 19,950 and 19,880. We can expect resistances at 20,165, 20,250 and 20,315.

NIFTY has the highest call OI build-up at 19,400. The highest put OI build-up also is at 19,400. PCR is 0.7.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up also is at 45,000. PCR is 0.7.

FIN NIFTY has the highest call OI build-up at 21,000. The highest put OI build-up is at 19,500. PCR is 0.6. The next largest OI is at 19,800 PE and 20,300 CE.

Major events of the week:

MONDAY

Fed Officials speeches

TUESDAY
11:30 Germany CPI


WEDNESDAY

17:30 India CPI, Industrial Production, Manufacturing Output

18:00 US CPI

THURSDAY

11:30 UK Construction Output, UK GDP, Industrial data 

          EU Industrial data

18:00 US PPI


FRIDAY

12:00 India WPI

India Inflation is expected to remain flat as food prices are rising but crude oil prices are remaining flat.

US inflation is expected to ease a bit.

Corporate earnings start this week.

Wednesday: TCS, HCL

Thursday: Wipro

IT results are expected to be weak.

IPO
Utkarsh Small Finance Bank

Cyient DLM

Kaka Industries and Ahasolar Technologies

HDFC Bank and HDFC merger comes into effect on July 13.

Global indices have included HDFC Bank and thus, we can expect a volatile week as there will be a lot of inflows and outflows.

Breaking 19,435 on the downside was a major move in Nifty. Do you think a correction phase has kicked in?

I will watch 19,200 on the downside in NIFTY. 19,520 can be watched on the upside.

Let us know your expectations for the week in the comments section!

Categories
Daily Market Feed Pre Market Report

Can Global Negativity Bring Our Market Down? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Titan registered a 20% year-on-year (YoY) revenue growth for the June quarter, with all the key consumer businesses witnessing double-digit growth in the quarter.

FMCG major Dabur India‘s consolidated business is expected to register a growth of over 10% for the first quarter ended June.

Adani Green announced that it intends to raise funds to the tune of Rs 12,300 crore through the qualified institutional placement (QIP) route.

What to Expect Today?

NIFTY opened flat at 19,392, took support from yesterday’s consolidation zone and rallied heavily. The previous day’s high was broken and retested to give another up-move. NF closed at 19,497, up by 99 points or 0.51%.

BANK NIFTY opened flat at 45,082 and continued consolidation. The index broke the trendline we were talking about on TSMS and rallied to close at 45,340, up by 188 points or 0.42%.

IT moved down by 0.12%.

The US markets closed in the red. The European markets ended deep in the red.

The Asian markets are trading much lower.

The U.S. Futures and European futures are trading flat.

GIFT NIFTY is trading 70 points lower at 19,475.

All the factors combined indicate a gap-down opening.

NIFTY has supports at 19,435, 19,370, 19,340 and 19,300 and 19,265. We can expect resistances at 19,500, 19,600 and 19,700.

BANK NIFTY has supports at 45,100, 45,000 and 44,780. Resistances are at 45,370, 45,650 and 45,800.

INDIA VIX  is at 11.8.

Foreign Institutional Investors net-bought shares worth Rs 2,600 crores. Domestic Institutional Investors net-sold shares worth 2,400 crores.

Bank Nifty has broken the trendline on the upside and reached the next target of 45,370. There was a possibility of another up-move here but the global cues are rather unfavourable. This will make the zone of 45,100-45,000 crucial.

Nifty also has a buying zone below but crossing 19,435 can be a weakness. Despite the fall in the European markets, we saw strength in our markets yesterday. It will be hard for our market to rally today in the background of bleeding global markets. 

The US Jobs data came out stronger than expected and it means the chances for hikes are higher now.

Today is the weekly close and the bulls look very safe now. At the same time, there can be a steeper correction as the rally we had was vertical.

I will watch 19,435 on the downside in NIFTY. 19,500 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

Categories
Daily Market Feed Pre Market Report

Negative Global Cues – Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Adani Wilmar has delivered strong double-digit volume growth at 25% for the first quarter ended June. However, sales declined 15%, mainly due to sharp drop in edible oil prices.

The Reserve Bank of India has granted approval to Tata AMC to acquire a stake in DCB Bank up to 7.5%.

RRP Infra Projects Ltd has been received a letter of acceptance for a new project worth Rs 289 crore

What to Expect Today?

NIFTY opened flat at 19,389 and consolidated. There was a 3 PM rally and NF closed flat at 19,398.

BANK NIFTY opened flat at 45,209 and underperformed. There was a bearish consolidation and the index closed at 45,152, down by 150 points or 0.33%.

IT moved up by 0.38%.

The US markets closed slightly in the red. The European markets moved down.

The Asian markets are trading lower.

The U.S. Futures and European futures are trading in the red.

GIFT NIFTY is trading lower at 19,465.

All the factors combined indicate a flat to gap-down opening.

NIFTY has supports at 19,340, 19,300, 19,265 and 19,230. We can expect resistances at 19,400, 19,435, 19,450 and 19,500.

BANK NIFTY has supports at 45,100, 45,000 and 44,780. Resistances are at 45,370, 45,650 and 45,800.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. PCR is 1.3.

BANK NIFTY has the highest call OI build-up at 45,500. The highest put OI build-up is at 45,000. PCR is 1.1.

INDIA VIX  is at 11.9.

Foreign Institutional Investors net-bought shares worth Rs 1,600 crores. Domestic Institutional Investors net-sold shares worth 400 crores.

The trendline we discussed was broken but there was no proper trade over there as the market had strong buyers. The 3 PM rally is a proof for the buying interest though it could have been due to the covering of existing shorts.

We can watch Bank Nifty’s zone of 45,100 to 45,000. Once this level is broken, there can be further down-move but it would be hard as there are strong buyers in the zone. Watch the morning price action carefully.

Fed Minutes said that the officials wanted to take a pause to get more time. But unlike earlier thought, there was difference in opinion and there were members who wanted hikes. There could be more hikes coming up but at a slower pace.

The global markets are not favourable now for an up-move. Let us see how our markets react just after opening.

The last Fin Nifty expiry was disastrous for many option sellers due to the insane premium movement. So, be careful today.

I will watch 19,340 on the downside in NIFTY. 19,435 can be watched on the upside.

Join us on the Expiry Day Live Trading on YT!

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!