Author: Amal M Prashanth

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

Stocks

RBL‘s retail advances grew 32% YoY while wholesale advances grew 

8% YoY for the quarter ended June 2023. The mix of retail: wholesale advances was approximately at 56:44.

BHEL has extended its gas turbines technology agreement with General Electric Technology GmbH Switzerland.

The Board of Suzlon Energy will meet on July 7 to consider a proposal to raise capital in multiple ways.

What to Expect Today?

NIFTY opened with a gap-up at 19,408 and took support at 19,300. The initial dip was bought back and NF crossed day-high to take resistance at 19,470. NF closed at 19,389, up by 66 points or 0.34%.

BANK NIFTY opened with a small gap-up at 45,314 and moved down. Buy-on-dip kicked in and the index fired. 45,600 was crossed and BN closed at 45,301, up by 143 points or 0.32%.

IT rallied by 1%.

The US markets remained shut on account of Independence day. 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 flat at 19,500.

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

NIFTY has supports at 19,300, 19,265, 19,230 and 19,200. We can expect resistances at 19,400, 19,435 and 19,450.

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 19,400. The highest put OI build-up also is at 19,300. PCR is 1.5.

BANK NIFTY has the highest call OI build-up at 45,200. The highest put OI build-up is at 45,000. PCR is 1.5.

INDIA VIX  is at 11.7.

Foreign Institutional Investors net-bought shares worth Rs 2,000 crores. Domestic Institutional Investors net-sold shares worth 800 crores.

The market saw some profit booking but there was strength left in buyers. What amused me was the insane premium movement. Option sellers might have had a hard day.

As we discussed on Monday, 45,100 was a trap for short players. We were discussing how important it was to wait even if 45,100 is broken as it is not just a support level but the top of a support zone.

We can watch 45,800 on the upside to see a further up-move.

Fed Minutes will be released tonight. We will get more clarity on their stance on further rate hikes. Powell had said that there could be more rate hikes as there is a need to control inflation.

There is a trendline in Nifty if you look into last two days’ chart as we discussed in the Stock Market Show.

Do you think there is going to be a big profit booking considering the vertical rally we had? Or is it going to be a consolidation followed by another rally? Let us see if 20,000 or 18,500 will be touched first.

I will watch 19,230 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!

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

Stocks

IndusInd Bank‘s promoter IndusInd International Board is planning to raise $1.5 billion in capital to increase the stake in the lender and other strategic objectives.

Reliance Jio has launched Jio Bharat Phone, which will enable existing 250 million feature phone users with internet enabled phones. The beta trial for the first 1 million Jio Bharat phones begins from July 7.

Avenue Supermarts, which operates retail chain DMart, has reported Rs 11,584 crore standalone revenues for the first quarter ending June.

What to Expect Today?

NIFTY opened with a gap-up at 19,253 and gave a quick rally yesterday. There was intraday profit booking but the dip was bought and NF faced resistance at day-high. Nifty closed at 19,322, up by 133 points or 0.7%.

BANK NIFTY opened with a gap-up at 44,985 and gave a huge buying right after opening. There was rejection from 45,370 and consolidation followed. BN closed at 45,158, up by 411 points or 0.92%.

FIN NIFTY opened with a gap-up at 20,156 and rallied. 20,400 offered resistance and FIN NIFTY moved down to consolidate. FN closed at 20,254, up by 196 points or 0.98%.

IT moved down by 0.3%.

The US markets closed flat to green the European markets moved down.

The Asian markets are trading mixed with Nikkei 1% in the red.

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

GIFT NIFTY is trading flat at 19,460.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,265, 19,230 and 19,200. We can expect resistances at 19,335, 19,400 and 19,450.

BANK NIFTY has supports at 45,100, 45,000 and 44,780. Resistances are at 45,370, 45,500 and 45,600.

FIN NIFTY has supports at 20,240, 20,120 and 20,000. We can expect resistances at 20,300, 20,400 and 20,450.

NIFTY has the highest call OI build-up at 19,300. The highest put OI build-up also is at 19,300. PCR is 1.5.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500. PCR is 1.5.

FIN NIFTY has the highest call OI build-up at 20,400. The highest put OI build-up is at 20,000. PCR is 0.9.

INDIA VIX  spiked to 11.5.

Foreign Institutional Investors net-bought shares worth Rs 2,000 crores. Domestic Institutional Investors net-sold shares worth 400 crores.

The market was unbelievably strong in the first hour. BN was firing but IT did not see a major move yesterday. 

Consolidation looks tricky and may trap traders. There would be a tendency to take positions once the consolidation zone is broken. But, one should go for larger quantities without Day-high or Day-low getting broken.

Even if these levels are broken, it is hard to go with huge quantities as shorting is dangerous in such a strong market and also, the risk-reward is not favourable as there could be support offered by Friday’s close after gap-filling.

Going long full-on after such a momentum move is a bit hard as well. However, it is fine to go long once FIN NIFTY sustains above 20,400. There is a huge call OI build-up there and it means there can be short covering once the level is broken. But one should be careful about fakeouts as well.

The US markets will remain shut tonight on account of Independence day.

I will watch 19,200 on the downside in NIFTY. 19,335 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Warburg Pincus affiliate has offloaded 0.3% stake in Bharti Airtel Ltd through a block deal on Friday for Rs 1,649 crore.

The merger of HDFC Bank and Housing Development Finance Corporation (HDFC Ltd) will be effective July 1.

TVS Motor Company expects growth momentum to continue in the current fiscal, with the overall economy anticipated to grow at a robust pace and a continuous improvement in the road infrastructure.

What to Expect Today?

NIFTY opened with a gap-up at 19,058 on Friday. The rally continued and 19,200 was touched. NF closed at 19,189, up by 217 points or 1.14%.

BANK NIFTY opened with a gap-up at 44,667 and showed divergence initially. Support was taken near 44,500 and the index rallied. There was a resistance at 44,800 and BN closed at 44,747, up by 420 points or 0.95%.

IT rallied and closed 2.5% in the green.

The US markets and the European markets moved higher on Friday.

The Asian markets are trading higher.

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

GIFT NIFTY is trading higher at 19,370.

All the factors combined indicate a gap-up opening.

NIFTY has supports at 19,000, 18,850 and 18,770. We can expect resistances at 19,200 and 19,300.

BANK NIFTY has supports at 44,500, 44,300 and 44,170. Resistances are at 44,800 and 45,000.

FIN NIFTY has supports at 20,000, 19,950 and 19,880. We can expect resistances at 20,100 and 20,200.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is 1.6.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500. PCR is 1.5.

FIN NIFTY has the highest call OI build-up at 20,100. The highest put OI build-up is at 20,000. PCR is 1.5.

INDIA VIX  is at 10.8.

Foreign Institutional Investors net-bought shares worth Rs 6,000 crores. Domestic Institutional Investors net-sold shares worth 1,000 crores.

What a strong week our markets had! Nifty created a new all-time high on Wednesday and it was a holiday on Thursday. The index broke 19K as well on Friday and continued to move up by another 200 points.

Gift Nifty will replace Sgx Nifty from today and NSE has taken the ownership of Nifty futures trading in Singapore Stock Exchange and transferred to Gift City.

HDFC Bank- HDFC merger has been completed. 

There was some divergence in Bank Nifty if you look at the initial price action in Nifty. 

FIIs are puring in money and this is taking the index higher without profit booking. What is ideal for the rally would be a consolidation somewhere here and then a further breakout later after gaining strength.

All the best for the New Quarter!

I will watch 19,000 on the downside in NIFTY. 19,250 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals on Wednesday.

Tata Consultancy Services (TCS) has banned six employees and six business associate firms for violating ethical conduct following whistleblower allegations around a recruitment scandal.

ICICI Securities today announced that it will become a wholly-owned subsidiary of its parent company ICICI Bank upon delisting.

In a Rs 4,140 crore bulk deal, SB Adani Family Trust sold 1.8 crore shares of Adani Enterprises at Rs 2,300.

What to Expect Today?

NIFTY opened with a gap-up at 18,890 on Wednesday. There was a small pull-back and the index rallied heavily. ATH was taken out and NF closed at 18,972, up by 155 points or 0.82%.

BANK NIFTY opened with a gap-up at 44,341, filled the gap and rallied. The index moved up and touched 44,500. BN closed at 44,328, up by 206 points or 0.47%.

IT closed 0.15% in the green.

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

The Asian markets are trading higher except for Nikkei.

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

SGX NIFTY is trading higher at 19,175.

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

NIFTY has supports at 18,950, 18,850 and 18,770. We can expect resistances at 19,000, 19,050 and 19,100.

BANK NIFTY has supports at 44,280, 44,170, 44,100 and 44,000. Resistances are at 44,440, 44,520 and 44,700.

INDIA VIX  is at 10.9.

Foreign Institutional Investors net-bought shares worth Rs 12,000 crores. Domestic Institutional Investors net-sold shares worth 1,000 crores.

And it is all-time high! Investors must be really happy, unlike option sellers.

We were discussing about the trapped call sellers. There were short sellers in the market and that was evident from the futures pricing and the OI build-up. When there was an up-move, they had to cover their positions further propelling the up-move.

Bank Nifty is trading at the highest point but look at the individual stocks. They are trading far away from their all-time high levels.

FIIs had a huge buying day on Wednesday. Yesterday was a holiday on account of Eid. You would be on a long vacation but if you are trading today, make sure that you watch 44,170 on the downside before going for shorting opportunities, though it is not advisable. There can be quick bounces from there. 

This is the last trading day of the quarter. How was the quarter for you?

I will watch 18,850 on the downside in NIFTY. 19,000 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

HDFC Ltd bought 0.7% additional stake in its subsidiary HDFC Life through open market transactions on Tuesday.

SBI will acquire the entire 20% stake held by SBI Capital Markets in SBI Pension Funds.

The delisting of mortgage lender HDFC is likely to earn India’s sixth largest IT company LTIMindtree a ticket to the elite Nifty50 group of stocks.

The Competition Commission of India (CCI) has approved Aditya Birla Fashion’s acquisition of TCNS Clothing.

What to Expect Today?

NIFTY opened with a gap-up at 18,750, moved down, took support near PDL and rallied. There was a huge short covering and the index closed at 18,817, up by 126 points or 0.68%.

BANK NIFTY opened with a gap-up at 43,805, took support near 43,680 and rallied. The index broke all the major levels in the up-move and closed at 44,121, up by 480 points or 1.10%.

IT closed 0.73% in the green.

The US markets rallied and the European markets closed in the green.

The Asian markets are trading mixed with Nikkei trading higher and the Chinese markets trading in the red.

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

SGX NIFTY is trading higher at 18,865.

All the factors combined indicate a gap-up opening.

NIFTY has supports at 18,770, 18,650 and 18,550. We can expect resistances at 18850, 18,890 and 18,950.

BANK NIFTY has supports at 44,100, 44,000 and 43,850. Resistances are at 44,170, 44,280 and 44,440.

NIFTY has the highest call OI build-up at 18,900. The highest put OI build-up is at 18,700. PCR is 1.1.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up also is at 44,000. PCR is 1.5.

INDIA VIX  is at 10.8.

Foreign Institutional Investors net-bought shares worth Rs 2,000 crores. Domestic Institutional Investors net-sold shares worth 2,000 crores.

It was a huge short covering yesterday. Let us see if the up-move continues today. OI build-up says there are trapped call option sellers especially in Bank Nifty.

We will have to wait till 11 AM to see which direction the market takes. We usually see reversals at this time.

Holiday was shifted from Wednesday to Thursday and thus, today is the expiry day. 

NSE also came up with an update regarding BN expiry: The expiry day will continue to be on Thursday rather than Friday after BSE’s request.

HDFC-HDFC Bank demerger news saw a follow-up saying the current date of delisting, 13th July is tentative only. 

As mentioned above, see what happens around 11 AM before major decisions.

I will watch 18,770 on the downside in NIFTY. 18,890 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Sapphire Foods India promoter is likely to sell 3 million shares through a block deal, Bloomberg reported. The floor price is set at Rs 1345-1391 per share.

City Union Bank Board has approved raising capital up to Rs 500 crore through the QIP route.

BLS International Services subsidiary BLS E-Services approved fund raising through an IPO. The size of the offer, price and other details will be determined in due course.

Bharti Airtel has announced changes to its leadership team in Airtel Business. Ajay Chitkara, CEO Airtel Business, has decided to move on from Airtel. He will continue with the company until the third week of August 2023.

What to Expect Today?

NIFTY opened with a small gap-up at 18,694, tried to move up and fell to have a range-bound day. 18,650 acted as a major support. The index closed at 18,691, up by 0.14%.

BANK NIFTY opened flat to gap-up at 43,730 and fell to compensate for the gap-up and consolidated. The index closed flat at 43,641.

IT closed 0.13% in the green.

The US markets closed lower and the European markets closed slightly in the red.

The Asian markets are trading mixed with Nikkei trading in the red and the Chinese markets trading higher.

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

SGX NIFTY is trading higher at 18,730.

All the factors combined indicate a flat opening.

NIFTY has supports at 18,650, 18,550, 18,500 and 18,420 We can expect resistances at 18,685, 18,750 and 18,850.

BANK NIFTY has supports at 43,500, 43,350 and 43,265. Resistances are at 43,680, 44,000 and 44,100.

FIN NIFTY has supports at 19,500, 19,470 and 19,370. We can expect resistances at 19,540, 19,600 and 19,650.

NIFTY has the highest call OI build-up at 18,800. The highest put OI build-up is at 18,600. PCR is 0.8.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up is at 43,500. PCR is 0.8.

FIN NIFTY has the highest call OI build-up at 19,700. The highest put OI build-up is at 19,500. PCR is 0.8.

INDIA VIX  is at 11.2.

Foreign Institutional Investors net-sold shares worth Rs 400 crores. Domestic Institutional Investors net-bought shares worth 300 crores.

As we discussed yesterday, let us watch 43,350 on the downside in BN. That is a major level for positional players. 44,000-44,170 zone is crucial. Hope you remember the significance of 44,170 in the hourly chart. 

See how many times Nifty took support at 18,650. The level gets weaker with bounces taking place. Once this level is broken, there can be a major fall.

It is FIN NIFTY expiry and the premiums are low as VIX stays the same. I will be watching 19400-19650 strangle premiums at opening.

The market will remain shut tomorrow on account of Eid. Midcap expiry will take place today because of the same.

I will watch 18,650 on the downside in NIFTY. 18,750 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Zydus Life’s arm Zydus Animal Health and Investments to acquire 6.5% stake of Rising Sun Holdings in Mylab.

HDFC Life Insurance said it has received a demand notice of more than Rs 942 crore for non-payment of GST.

Rail Vikas Nigam Ltd emerged as the lowest bidder from Maharashtra Metro Rail Corporation for design and construction of elevated metro viaduct.

Dr Reddy’s Laboratories announced its entry into the trade generics business in India with the launch of its new dedicated division ‘RGenX’.

Graasim‘s Board approved the issue of non-convertible debentures on private placement basis, for an amount not exceeding Rs 2,000 crore, in one or more tranches.

What to Expect Today?

NIFTY opened with a small gap-down at 18,746 on Friday. It was a range-bound day with 18,650 as bottom and 18,750 as high. NF closed at 18,665, down by 106 points or 0.56%.

BANK NIFTY opened flat at 43,673 and had a nearly flat day. Though there was an up-moev, the sellers were strong and BN closed at 43,623, down by 102 points or 0.23%.

IT closed 0.89% in the red.

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

The Asian markets are trading in the red except for NIKKEI.

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

SGX NIFTY is trading lower at 18,810.

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

NIFTY has supports at 18,550, 18,500 and 18,420 We can expect resistances at 18,6585, 18,750 and 18,850.

BANK NIFTY has supports at 43,500, 43,350 and 43,265. Resistances are at 43,680, 44,000 and 44,100.

FIN NIFTY has supports at 19,500, 19,470 and 19,370. We can expect resistances at 19,540, 19,600 and 19,650.

NIFTY has the highest call OI build-up at 18,800. The highest put OI build-up is at 18,000. PCR is 0.8.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up is at 443,500. PCR is 0.85.

FIN NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,500. PCR is 0.8.

INDIA VIX  is at 11.2.

Foreign Institutional Investors net-sold shares worth Rs 300 crores. Domestic Institutional Investors net-sold shares worth 700 crores.

Though there were news regarding coup in Russia spreading, the global markets have ignored those.

Let us watch 43,350 on the downside in BN. That is a major level for positional players. 44,000-44,170 zone is crucial. Hope you remember the significance of 44,170 in the hourly chart. 

Nifty is stronger than BN. However, 18,550 is a major level to protect for the bulls. 18,900, being just above the All-time high can be watched.

European Central Bank Chair Lagarde will speak tonight. Let us see if the US markets react to it.

Nikkei is trading higher against the sentiments in the global markets. Will NF be able to follow Nikkei?

As we discussed in the Dalal Street Week Ahead, the weekly candle is red. The major swing point of 18,685 on the day-chart has been broken. Is it going to be a double-top reversal?

I will watch 18,550 on the downside in NIFTY. 18,750 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

The Board of PNB Housing Finance has approved issuance of NCDs in tranches aggregating up to Rs 5,000 crore on a private placement basis

A Board meeting of BPCL will be held on June 28 to consider the various modalities for capital infusion including rights issue, for achieving energy transition, net zero and energy security objectives.

ONGC starts 3.6MMSCMD Panna gas evacuation through a new pipeline.

Vedanta clarifies on the news reports related to sale of sterlite copper plant in Thoothukudi. The company said the reports are wrong, baseless and incorrect.

What to Expect Today?

NIFTY opened flat at 18,859 yesterday and had an extremely volatile day. All-time high was not taken out and there was immense selling pressure. There was a huge recovery and a bigger fall. NF closed at 18,771, down by 86 points or 0.45%.

BANK NIFTY opened flat at 43,889, consolidated and fell. There were huge swings. BN finally closed at 43,724, down by 134 points or 0.31%.

IT closed 0.74% in the red.

The US markets closed higher except for DOW. The European markets closed in the red.

The Asian markets are trading deep in the red.

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

SGX NIFTY is trading lower at 18,810.

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

NIFTY has supports at 18,755, 18,710 and 18,685. We can expect resistances at 18,820, 18,890, 18,950 and 19,000.

BANK NIFTY has supports at 43,680, 43,500, 43,430 and 43,265. Resistances are at 43,860, 44,000 and 44,100.

INDIA VIX  is at 11.5.

Foreign Institutional Investors net-sold shares worth Rs 700 crores. Domestic Institutional Investors net-bought shares worth 200 crores.

The market was insanely volatile yesterday. Aggressive option sellers would have got a big hit with crazy moves. At the same time, option buyers got a good deal with lower premiums.

All-time high level continued to act as a resistance level. There was a strong fight there. Finally, the sellers won the game.

Looking at the global markets, it is positivity from the Wall Street as there was a recovery in the broader index. But Nikkei is trading deep in the red.

Watch 43,400 on the downside. Once 43,350 is broken, you can confirm weakness positionally. However, an intraday move may not mean weakness. We should wait for a good close in larger timeframes.

Bank of England surprised the investors with a 50 basis points hike in place of a 25 basis points hike. 

It is weekly close and hence, price action is crucial in the second half  today.

I will watch 18,685 on the downside in NIFTY. 18,820 can be watched on the upside.

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Carlyle to offload its entire stake in internet logistics firm Delhivery through a block deal.

The Board of NTPC is scheduled to meet on June 24 to consider and approve the issue of bonds up to Rs 12,000 crore.

Nest and TCS expand strategic partnership to provide enhanced member experience. The contract value was signed for £840 million with an initial tenure of 10 years.

LTIMindtree today launched Canvas.ai, an enterprise-ready generative AI platform designed to accelerate the concept-to-value journey for businesses using mindful AI principles.

Zee Entertainment has reached a settlement with markets regulator SEBI with respect to alleged insider trading norm breach in 2019, and has paid Rs 7 lakh towards the same.

What to Expect Today?

NIFTY opened with a gap-up at 18,853 and tried moving up. There was a proper rejection and a dip. The dip was bought and a rally followed. NIFTY closed at 18,857, up by 40 points or 0.21%.

BANK NIFTY opened with a small gap-up at 43,902 and took resistance at 43,940. The index came down to 43,700 and there was a bounce. BN closed at 43,859, up by 93 points or 0.21%.

IT closed 0.33% in the green.

The US markets closed lower yesterday. The European markets also closed in the red.

The Asian markets are trading mixed with Nikkei trading flat. Chinese markets and Hang Seng remain closed on account of the Dragon boat festival.

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

SGX NIFTY is trading lower at 18,870.

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

NIFTY has supports at 18,790, 18,755, 18,710 and 18,685. We can expect resistances at 18,890, 18,950 and 19,000.

BANK NIFTY has supports at 43,680, 43,500, 43,430 and 43,265. Resistances are at 43,940, 44,000 and 44,100.

NIFTY has the highest call OI build-up at 19,000. The highest put OI build-up is at 18,800. PCR is 1.05.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up also is at 43,500. PCR is 0.9.

INDIA VIX  is at 11.3.

Foreign Institutional Investors net-bought shares worth Rs 4,000 crores. Domestic Institutional Investors net-bought shares worth 500 crores.

The market broke the pattern of alternate red and green days with a positive close yesterday.

Bank Nifty remained range-bound yesterday. Hope you remember that we were discussing the levels 43,680 on the downside and 43,940 on the upside. The index consolidated between these levels. 

Nifty also was confined to a range but there were trending moves. That would have made option buyers happy along with option sellers. However, lower VIX is a concern for non-directional option sellers.

As we discussed yesterday, we can have a positional short view on the market if BN moves below 43,400. Wait for the market to sustain below the level. At the same time, we cannot easily short Nifty if we see the index below 18,685 as the index is strong now. 18,550 could be a point of reversal.

On the upside, I will watch all-time high for Nifty and 44,000-44,200 zone in BN. If look at the hourly chart, 44,170 is a major level.

NIKKEI is trading flat now. Australian market is trading more than 1% in the red. There was negativity in the US markets after Powell said that higher interest rates are necessary to curb inflation. Usually, we have seen recovery moves happening the next day.

I will watch 18,755 on the downside in NIFTY. 18,900 can be watched on the upside.

Tune in to marketfeed Expiry Day Live Trading today on our Youtube Channel!

Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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

Stocks

Piramal Enterprises is likely to sell its entire stake of 8.34% in Shriram Finance through a block deal, according to reports.

Norway-based Norges Bank has sold partial stake in Archean Chemicals through open market transactions on Tuesday.

Shilpa Medicare board will meet on June 23 to consider a proposal of fund raising by way of rights issue of equity shares.

Pidilite said it will manufacture Litokol and Tenax products from Italy in India. The state-of- the-art manufacturing facilities are located in Amod, Gujarat.

RVNL has clarified on news reports that there is a crack in the JV between the company and TMH, saying it is factually incorrect.

What to Expect Today?

NIFTY opened flat at 18,757 and gave a quick down-move. There was a double bottom breakout and the index rallied heavily. NIFTY closed at 18,817, up by 61 points or 0.33%.

BANK NIFTY opened flat at 43,639 and almost broke down before it rallied. There was a big up-move towards the close and BN closed at 43,767, up by 133 points or 0.30%.

IT closed 0.78% in the green.

The US markets closed lower. The European markets also closed in the red.

The Asian markets are trading lower except for Nikkei.

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

SGX NIFTY is trading lower at 18,865.

All the factors combined indicate a flat opening.

NIFTY has supports at 18,770, 18,710, 18,685 and 18,560. We can expect resistances at 18,830, 18,890 and 19,000.

BANK NIFTY has supports at 43,680, 43,500, 43,430 and 43,265. Resistances are at 43,780, 44,000 and 44,100.

NIFTY has the highest call OI build-up at 18,800. The highest put OI build-up is at 18,700. PCR is 1.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up also is at 43,500. PCR is 0.9.

INDIA VIX  is at 11.1.

Foreign Institutional Investors net-sold shares worth Rs 2,000 crores. Domestic Institutional Investors net-bought shares worth 2,000 crores.

We were discussing extreme volatility in the markets positionally. We got a rally on Wednesday, a fall on Thursday and an up-move on Friday. The pattern continues this week by switching between up-trending and down-trending days.

At the same time, note that VIX is low. This is good for option buyers to an extent as they can get the move by giving a lower premium. Think about option sellers who have to bear with these big moves at a low premium. Conservative option sellers would have been spared.

Positionally speaking, we can have a short view on the market if BN moves below 43,400. Wait for the market to sustain below the level. At the same time, we cannot easily short Nifty if we see the index below 18,685 as the index is strong now. 18,550 could be a point of reversal.

On the upside, I will watch all-time high for Nifty and 44,000-44,200 zone in BN. If look at the hourly chart, 44,170 is a major level.

The global cues are mostly negative from the West to the Chinese markets. However, we have Nikkei trading in the green as of now.

I will watch 18,710 on the downside in NIFTY. 18,830 can be watched on the upside.

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