Author: Cherian Varghese

Categories
Daily Market Feed Post Market Analysis

Bullishness Confirmed in Nifty? – Post-Market Analysis

NIFTY started the day at 19,767 with a gap-up of 77 points. After moving up to 19,840 levels, the index consolidated in a 50-point range throughout the day. Nifty closed at 19,811, up by 121 points or 0.62%.

Nifty chart October 11 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,554 with a gap-up of 194 points. After moving up to 44,700 levels, the index consolidated with a negative bias till yesterday’s closing levels of 44,400. BNF closed at 44,516, up by 156 points or 0.35%.

Bank Nifty chart October 11 - post-market analysis | marketfeed

All indices except Nifty PSU Bank (-0.73%) closed flat-to-green. Nifty Auto (+0.92%) moved up the most.

Major Asian markets closed up to 1.5% in the green. France’s CAC40 is currently trading in the red, while Germany’s DAX and the UK’s FTSE100 are trading in the green.

Today’s Moves

Hero MotoCorp (+4.17%) was NIFTY50’s top gainer. Brokerage firm CLSA has upgraded its rating on the stock to ‘Buy’ and raised the target price to ₹3,701 per share (from ₹3,142 earlier).

Laxmi Organics (+11.43%) surged after the company raised ₹259 crore through a qualified institutional placement (QIP).

Vodafone Idea (+7.2%) rose after the telco moved the Supreme Court regarding its Adjusted Gross Revenue (AGR) dues plea, with the apex court agreeing to consider the matter.

HCL Tech (-1.28%) was NIFTY50’s top loser. The IT major is expected to report growth in the constant currency revenue in Q2 FY24 after a consecutive decline in the previous two quarters.

Bank of Baroda (-3.31%) fell sharply after RBI suspended the bank from onboarding new customers on its ‘bob World’ app.

Markets Ahead

Nifty has hit our target of 19,800 levels and faced resistance from the gap-filling levels of 19,840 and stayed there. Bank Nifty is also holding the upper levels and might continue the up-move if today’s lows are not breached.

Nifty: The immediate support for the index is near 19,780. Meanwhile, the immediate resistance to watch out for is the 19,880 level. A breakout from there could take Nifty up to 19,946 and 20,000 levels eventually.

Bank Nifty: The immediate support is near 44,400. A breakdown from this level might take the index down to 44,180 and 44,080. On the other hand, 44,750 is the immediate resistance to watch out. A breakout from there may give us targets of 45,000 and 45,100.

Being Bank Nifty expiry today, the market was more or less calm and consolidating. Tomorrow’s Nifty expiry can be trending based on the breakdown or breakout levels. So watch out for the key levels.

Tata Consultancy Services (TCS) has kick-started the results season! The IT major reported a 9% year-on-year (YoY) growth in consolidated net profit for the quarter ended September 2023 (Q2 FY24) to ₹11,342 crore. Consolidated revenue grew nearly 8% YoY to ₹59,692 crore in Q2.

What levels are you watching out for Nifty tomorrow? Let us know in the comments section below!

Please tune in to The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Post Market Analysis

Short Covering Takes Nifty Up! Nifty Realty Surges 4% – Post-Market Analysis

NIFTY started the day at 19,565 with a gap-up of 53 points. The index crossed the important resistance zone of 19,600 and gradually moved up throughout the day to 19,720 levels. Nifty closed at 19,689, up by 177 points or 0.91%.

Nifty chart October 10 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,027 with a gap-up of 161 points. The index consolidated within a 70-point range till 12 PM. Then, BNF witnessed a short covering rally of 400 points on the upside. BNF closed at 44,360, up by 473 points or 1.08%.

Bank Nifty chart October 10 - post-market analysis | marketfeed

All indices closed well in the green. Nifty Realty (+4.01%), Nifty PSU Bank (+2.08%), and Nifty Metal (+2.05%) moved up the most.

Major Asian markets closed mixed (Japan’s Nikkei rose 2.4%). European markets are currently trading over 1% in the green.

Today’s Moves

Coal India (+5.3%) was NIFTY50’s top gainer. The stock hit a fresh 52-week high of ₹303.9 after brokerage firm Nuvama said the company could offer the triple benefits of volume growth, improved e-auction prices, and a possible all-time high dividend in the second half of FY24.

Nifty Realty hit a high of 612.25 (its highest level since 2009) amid strong business updates from real estate players for the Q2 FY24 and H1 FY24 period.

Prestige Estates (+8.5%), Sobha (+6.9%), Godrej Properties (+5.65%), and DLF (+3.86%) were top gainers in Nifty Realty.

IndusInd Bank (-0.56%) was NIFTY50’s top loser. 

Suzlon Energy (-4.7%) fell for the second consecutive session after the stock was placed on the Direct Stage IV Additional Surveillance Measures (ASM) framework.

Markets Ahead

Markets reversed with strength today, and we saw buying pressure across all indices. However, there could be a retracement until the hurdles of 19,800 in Nifty and 44,500 in Bank Nifty are crossed.

Nifty: The immediate resistance for Nifty is near the 19,720 level. A breakout from here could take the index to 20,000 levels (which is a larger target based on the inverted Head & Shoulder pattern). The first target on the upside can be 19,800. The support to watch out for is near the previous swing of 19,650. A breakdown may take the index down to 19,600 levels and consolidate.

Nifty chart | marketfeed

Bank Nifty: The index is moving in a channel with rejection from 23% Fibonacci levels. So if 44,400 is breached, we can expect a target of 44,800 and 45,000 eventually. Meanwhile, a breakdown from 44,300 could take the index down to 44,100 and 44,000.



As per reports, Indian indices bounced back today as global conditions improved, including a decline in crude oil prices and reduced worries about U.S. interest rates.

Tomorrow is Bank Nifty expiry day! What levels will you be watching?

Did you get trapped in today’s short-covering market? Let us know in the comments section below!

Please tune in to The Stock Market Show at 7 PM on our YouTube channel.

Categories
Market News Top 10 News

Maruti Suzuki Plans Capex of Rs 1.25 Lakh Cr Till FY31 – Top Indian Market Updates

"Bangalore, India - January 29, 2013: Signage at a car showroom belonging to Maruti Suzuki India Ltd. in Bangalore, India. The company is a subsidiary of Japan's Suzuki Motor Corporation, and has been the leader in the Indian car market for two and half decades with a capacity of 1.7 million cars annually."

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

Maruti Suzuki plans total capex of ₹1.25 lakh crore till 2030-31

Maruti Suzuki India is planning capital expenditure (capex) of up to Rs 1.25 lakh crore until 2030-31. The company’s strategy involves expanding its current product lineup from 17 models to 28 while increasing its production capacity. The automaker aims to have a total production capacity of 40 lakh units annually by 2030-31.

Read more here.

Prepared with business continuity plan for Haifa port: Adani Ports

Adani Ports & Special Economic Zone Ltd (APSEZ) said it is closely monitoring the conflict concentrated in south Israel, whereas its Haifa Port is situated in the north. The overall contribution of Haifa in APSEZ’s numbers is relatively small at 3% of the total cargo volume. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality,” APSEZ’s spokesperson said in a statement.

Read more here.

Inox Green Energy to divest 100% stake in Gujarat wind farm

Inox Green Energy Services (IGESL) has signed a term sheet to sell its 100% stake in Nani Virani Wind Energy Pvt Ltd (NVWEPL) as part of a strategy to become debt-free. NVWEPL owns a 50MW operational wind farm in Gujarat. The wind farm was commissioned in May this year.

Read more here.

ITC Hotels brand ‘Storii’ to set up presence in West Bengal

ITC Hotels announced the signing of its first ‘Storii’ property in Kolkata, West Bengal. The property will be located near the metropolis and is expected to open in early 2024. It will have 30 keys/rooms. ITC Hotels has three ‘Storii’ properties present in Goa and Dharamshala.

Read more here.

Magenta Mobility partners with Tata Motors to deploy EVs

Magenta Mobility has signed a Memorandum of Understanding (MoU) with Tata Motors to deploy 500 Ace EVs for last-mile delivery services. With Tata Motors, Magenta aims to drive sustainability in intra-city logistics in India by reducing the carbon footprint in the last-mile and mid-mile freight segment. 

Read more here.

Paytm introduces guest checkout solution

Paytm Payments Services Ltd (PPSL) has introduced an Alternate ID (ALT ID)-based Guest Checkout solution for merchants, enhancing cardholder safety and streamlining transactions.  With this solution, customers can make purchases as guests without storing sensitive card information on e-commerce/merchant websites. PPSL is a wholly-owned subsidiary of One97 Communications Ltd (which operates Paytm). 

Read more here.

SC to hear Jet Airways lenders’ plea against JKC on Oct 12

The Supreme Court (SC) indicated it would hear the plea by grounded airline Jet Airways’ lenders on October 12. The lenders are challenging the National Company Law Appellate Tribunal’s (NCLAT) order granting Jalan Kalrock Consortium (JKC) more time to make payments to them. JKC is the successful bidder for Jet Airways.

Read more here.

Premium collection falls for life insurers in August

Premiums in the life insurance sector witnessed a drop of 13% year-on-year (YoY) to ₹30,716 crore in September 2023. Life Insurance Corporation’s (LIC) premium collection in September dropped by 27% YoY. The life insurer’s premium collection fell 25% YoY in the first half of FY24. LIC has lost 9.7% market share in the first six months of FY24 over last year.

Read more here.

Fitch upgrades Tata Steel rating to ‘BBB-‘

Tata Steel Ltd’s (TSL) long-term issuer default rating was upgraded to investment grade by Fitch Ratings with a stable outlook, following less uncertainty and financial risk from its UK operations. Fitch Ratings upgraded the issuer default rating from BB+ to BBB -. It also raised the rating on Tata’s $1 billion notes due July 2024 issued by unit ABJA Investment Co. to BBB- from BB+. 

Read more here.

Cipla stake sale plan faces hurdle as promoters differ on valuation: Report

According to an ET report, the stake sale plan of Cipla Ltd has come across a hurdle as the promoters are reportedly not aligned with the common valuation. Differences among founders may lead to a delay in the deal until a common consensus is reached over the valuation. Cipla’s promoter group currently controls around 33% of the company’s shares. Reports have said that the family members could sell some or all of their stakes in Cipla.

Read more here.

Categories
Daily Market Feed Post Market Analysis

Nifty Falls Sharply Amid Israel-Palestine Conflict! – Post-Market Analysis

NIFTY started the day at 19,539 with a gap-down of 114 points. The index fell to 19,480 initially and gave a sharp recovery of nearly 110 points. However, Nifty couldn’t sustain the up-move and fell gradually to near the day’s low again. Nifty closed at 19,512, down by 141 points or 0.72%.

Nifty chart October 9 - post-market analysis

BANK NIFTY (BNF) started the day at 44,057 with a gap-down of 302 points. After opening, the index fell another 315 points to the support zones of 43,800 levels. Then, BNF moved up sharply till the opening levels, couldn’t sustain the up-move, and eventually fell to give a negative closing at 43,886, down by 474 points or 1.07%.

Bank Nifty chart October 9 - post-market analysis

All indices closed in red. Nifty PSU Bank (-3.09%) and Nifty Metal (-1.4%) fell the most.

Major Asian markets closed mixed. France’s CAC40 and Germany’s DAX are currently trading in the red, while the UK’s FTSE100 is trading in the green.

Today’s Moves

Dr Reddy’s Labs (+1.29%) was NIFTY50’s top gainer.

Oil India (+5.24%) rallied to an 8-year high of ₹318.4 as crude oil prices soared amid the Israel-Hamas war.

TCS (+0.47%) hit a 52-week high of ₹3,679 after the IT major said it plans to consider a share buyback on Oct 11.

Adani Ports (-4.89%) was NIFTY50’s top loser. The company, which runs Haifa Port in Israel, said it is ‘fully alert’ regarding the situation at the port and taking measures to ensure the safety of its employees. 

PSU banking stocks Bank of Maharashtra (-6.6%), UCO Bank  (-6.5%), IOB (-6.31%), Central Bank (-6.3%), PSB (5.8%) and others fell sharply today.

Markets Ahead

The Indian market is under selling pressure due to global negativity. Nifty has taken rejection from the 38% Fibonacci levels, and BNF at its 23% Fib level. India Vix shot up by 10%, which indicates that volatility and bearishness would continue.

Nifty: The important support to watch out for is today’s low of 19,480. A breakdown from there could take the index down to 19,445 and 19,400. The immediate resistance for Nifty is near 19,540, and a breakout may give us targets of 19,580 and 19,640 levels.

Bank Nifty: The important support for BNF is near the 43,800 zone. A breakdown from there could give us a target of 43,550 levels. The immediate resistance to watch is near 44,000 levels. A breakout from here may take the markets up to 44,200 and 44,300 levels.

A rise in Vix indicates bearishness. So look for breakdowns in case of directional trades!

The Israel-Hamas war has led to heightened geopolitical risks. Oil prices have increased due to fears of disruption in the West Asia region. Market analysts expect bond yields to go up and stock markets to fall if the war continues.

Please tune in to The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Post Market Analysis

Nifty Consolidates Above 19,520. RBI Announcement Tmrw! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,521 with a gap-up of 85 points. After an initial consolidation, the index fell sharply to hit the day’s low at 19,485 levels. From there, Nifty moved up 90 points with strength to near 19,580. It consolidated in a 60-point range for the remaining part of the day. Nifty closed at 19,545, up by 109 points or 0.56%.

Nifty chart October 5 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,181 with a gap-up of 217 points. After opening, the index fell gradually to hit 44,110 levels. From there, Bank Nifty rose sharply by 285 points to hit 44,390 levels (day’s high). Then, it slowly fell over 205 points from the day’s high, making lower-lows along the way. BNF closed at 44,213, up by 249 points or 0.57%.

Bank Nifty chart October 5 - post-market analysis | marketfeed

All indices except Nifty PSU Bank (-0.51%), Nifty Pharma (-0.3%), Nifty Metal (-0.25%), and Nifty FMCG (-0.1%) closed in the green. Nifty Media (+1.58%) moved up the most.

Major Asian markets closed in the green (Japan’s Nikkei rose 1.7%). European markets are currently trading mixed.

Today’s Moves

L&T (+2.06%) was NIFTY50’s top gainer. The company’s Buildings & Factories segment secured several ‘large’ projects across various business units.

Infibeam Avenues (+13.2%) broke its 2-day losing streak and surged up to 14% on the back of strong volumes.

Shares of Sobha (+6.48%) moved up after the company recorded sales worth ₹1,723.8 crore in Q2 FY24, a growth of 48.1% YoY.

PowerGrid (-1.26%) was NIFTY50’s top loser. 

Marico (-4.9%) fell sharply after the company said its consolidated revenue in Q2 FY24 would be lower due to price correction and forex impact.

Markets Ahead

Continuous net selling from FIIs is causing a lot of pressure in the Indian market. Nifty opened in the green and continued in the green zone. This might be a reflection of weekly expiry and cannot be considered an indication of reversal in the market.

But you can keep your faith in Nifty’s 19,250 zone, which can trigger fresh buying in equities. Also, you can mark the 19,520 level as short-term and intraday support.

Yesterday’s hammer formation in Nifty is slightly invalid now because the index couldn’t form a connecting green candle today.

RBI’s interest rate decision will be announced tomorrow at 10 AM.

Question of the day: Why do you think Trent Limited has two brands (Zudio and Westside) in the same market segment?

How did Nifty expiry go? Are you in net profit or loss? Let us know in the comments below!

Please tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Recovery From Lows? Bullish Expiry for Nifty? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,446 with a gap-down of 82 points. The index continued the fall till 19,375, gave a small retracement, and fell further to 19,330 levels. It then gave a strong rebound of nearly 115 points— reaching the day’s high of 19,460 levels. Nifty closed at 19,436, down by 92 points or 0.47%.

Nifty chart October 4 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,108 with a gap-down of 290 points. After opening, the index fell to 43,900 levels— breaching the important round level support of 44,000. Then, BNF tried moving up, but the round levels acted as resistance and pushed the index down to 43,850 levels. Post 12 PM, the index mostly consolidated. BNF closed at 43,964, down by 435 points or 0.98%.

Bank Nifty chart October 4 - post-market analysis | marketfeed

All indices except Nifty IT (+0.3%) and Nifty FMCG (+0.22%) closed in the red. Nifty PSU Bank (-2.83%) fell the most.

Major Asian markets closed flat-to-red (Japan’s Nikkei fell 2.28%). European markets are currently trading mixed.

Today’s Moves

Adani Enterprises (+3.2%) was NIFTY50’s top gainer. Abu Dhabi-based IHC has increased its stake in the company to over 5%.

Shares of Tata Investment Corp (+6.3%) are up 40% so far for the year, which is its best annual performance since 2009.

Adani Wilmar (+5.8%) snapped its 4-day fall. The shares jumped up to 9% today on the back of strong volumes.

Axis Bank (-4.3%) was NIFTY50’s top loser. A report suggested that the bank is likely to raise up to ₹10,000 crore through a QIP in the coming weeks. Axis Bank called the report speculative and incorrect. 

Indiabulls Housing (-7.1%) fell sharply. The stock came under NSE’s F&O ban for October 4. In other news, the company will be renamed Samman Capital soon.

Maruti Suzuki (-2.1%) moved down after the automaker received a draft assessment notice for unpaid dues worth ₹2,160 crore from the Income Tax department for FY2019-20.

Markets Ahead

Markets are looking weak. It gave a decent fall without much retracement. Now, the markets are holding major long-term support zones. Nifty made a hammer candlestick in the daily time frame, whereas Bank Nifty looks bearish. So if the indices breach the important levels discussed below, they may turn into a bearish trend for the rest of the quarter.

Nifty: The immediate resistance for the index is near 19,480-500 levels. The important support level is near today’s low of 19,300 levels. Looking at the reversal from the bottom, the index could move a little higher tomorrow. If 19,500 is crossed, Nifty may be choppy and volatile till 19,560 levels are crossed. After that, 19,640 and 19,700 could be targets on the upside. A breakdown of 19,400 may give us targets of 19,340 and 19,280 eventually.

Bank Nifty: The immediate resistance to watch out for is near 44,000, and the next resistance is at 44,200 levels. A breakout from these levels could give us targets of 44,370 and 44,500 eventually. A breakdown from today’s low may give us targets of 43,720 and 43,630. 

The 3-day meeting of the RBI’s Monetary Policy Committee (MPC) to deliberate on interest rates started today. Its outcome is due on October 6 (Friday).

How did BNF expiry go? Let us know in the comments below!

Do tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Markets Holding Key Levels! Bearish Bank Nifty Expiry? – Post-Market Analysis

post-market analysis

NIFTY started the day at 19,622 with a small gap-down of 16 points. Right after opening, the index fell 140 points to 19,480 levels. It later consolidated in a nearly 70-point range throughout the day. Nifty closed at 19,528, down by 109 points or 0.56%.

Nifty chart Oct 3 - post-market analysis

BANK NIFTY (BNF) started the day flat at 44,566. After the flat opening, the index fell sharply by 320 points to 44,240 levels. It later consolidated within a 170-point range. BNF closed at 44,399, down by 185 points or 0.42%.

Bank Nifty chart Oct 3 - post-market analysis

All indices except Nifty PSU Bank (+2.38%), Nifty Media (+1%), and Nifty Realty (+0.46%) closed in the red. Nifty Auto (-1.2%) fell the most. 

Major Asian markets closed flat-to-red. UK’s FTSE100 is currently trading in the green, while Germany’s DAX and France’s CAC40 are in the red.

Today’s Moves

Bajaj Finance (+2.01%) was NIFTY50’s top gainer.

Metro Brands (+12.36%) surged and hit a fresh 52-week high of ₹1,298. The stock is up nearly 160% from its IPO price.

Ujjivan Small Finance Bank (+9.06%) jumped today. The company’s board will convene next month for the proposed scheme of amalgamation with its holding company, Ujjivan Financial Services Ltd.

ONGC (-3.78%) was NIFTY50’s top loser. Stocks of oil companies were under pressure after the Ministry of Petroleum & Natural Gas hiked domestic natural gas prices by 7% as of Sept. 30.

Delta Corp (-4.1%) fell sharply after the 28% Goods & Service Tax (GST) on online gaming came into effect on October 1. 

Markets Ahead

Markets moved in the same channel as discussed in our previous post-market report. Nifty and Bank Nifty are holding their important support zones. But clearly, there’s selling pressure in the markets, and we can see that every uptick is being sold into.

Nifty: The next important support for Nifty is 19,480. A breakdown from this level may give us targets of 19,400 and 19,350. The immediate resistance will be 19,560-600 levels. Meanwhile, a major hurdle on the upside is 19,740 levels. A breakout from there could give us targets of 19,800 and 19,860.

Bank Nifty: The immediate support in Bank Nifty is near the low of the channel near 44,300 levels. A breakdown from there could give us targets of 44,240, 44,180, and 44,000 eventually. The immediate resistance to watch out for is the round level of 44,500.

Being Bank Nifty expiry tomorrow, the index may give a directional movement after today’s consolidation. So watch out for the key support and resistance levels to trade accordingly.

As per market experts, rising U.S. bond yields and strength in the U.S. Dollar are prompting FIIs to pull funds from the market! 

What levels are you watching out for BNF expiry tomorrow? Let us know in the comments below!

Do tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Bullish Harami Formed! Markets to Reverse? – Post-Market Analysis

NIFTY started the day flat at 19,581 with a gap-up of 58 points. Initially, the index tried moving up, but the 19,600 zone acted as resistance. Nifty consolidated near that resistance and gave a good breakout, followed by a 125-point rally till the important resistance zone of 19,730-40 levels. After 2:30 PM, the index fell sharply to close at 19,638, up by 114 points or 0.59%.

Nifty chart Sept 29 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,445 with a gap-up of 145 points. Right from the beginning, BNF made higher low patterns. The index moved up gradually by 400 points to 44,750 levels and took resistance there. BNF closed at 44,484, up by 287 points or 0.64%.

Bank Nifty chart Sept 29 - post-market analysis | marketfeed

All indices except Nifty IT (-0.3%) closed in the green. Nifty Pharma (+2.6%), Nifty Media (+1.96%), and Nifty Metal (+1.9%) moved up the most!

Major Asian markets closed flat-to-green. European markets are currently trading up to 1% in the green.

Today’s Moves

Hindalco (+5.65%) was NIFTY50’s top gainer. 

Glenmark Pharma (+9.8%) surged after rating agency S&P Global revised the company’s outlook to positive on the back of the proposed stake sale of Glenmark Life Sciences (GLS).

Shares of Vedanta (+6.84%) rose after the company announced the allotment of debentures worth ₹2,500 crore. The company also declared a demerger to split its business into six listed entities.

Adani Enterprises (-2.42%) was NIFTY50’s top loser. Yesterday, Abu Dhabi’s International Holding Company (IHC) decided to exit its investment in Adani Green Energy and Adani Energy Solutions.

Navin Fluorine International (-13.66%) crashed after Radhesh Welling resigned as the company’s Managing Director. 

Markets Ahead

Both Nifty and Bank Nifty showed buying pressure and tried to recover from yesterday’s fall. However, both indices couldn’t cross or close above their respective resistance levels or yesterday’s high. Indices are still under selling zones. So markets can turn bullish only after important levels are breached.

Nifty: The current swing of 19,600 can act as immediate support. And a major support to watch out for in Nifty is 19,500. A breakdown from these levels may give us targets of 19,400 and 19,350. Meanwhile, a major hurdle on the upside is 19,740 levels. A breakout from there could give us targets of 19,800 and 19,860 levels. A breach of 19,860 levels can indicate a reversal and markets to turn bullish again. 

Nifty is moving in a flag and pole pattern. So a breakout can confirm the upward movement.

Bank Nifty: The immediate support to look out for is near the round levels of 44,500. A breakdown from these levels may take the index to 44,350 and 44,200 levels. The important resistance is near today’s high of 44,780-800. A breakout could give us targets of 44,900 and 45,000. More importantly, 45,200 has to be crossed for a trend reversal.

Bank Nifty has been moving in a channel, and the channel high may be respected!

How did this week go? Are you in net profit or loss? Let us know in the comments below!

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Uncategorized

Nifty Falls 275 Points on Monthly Expiry! IT Stocks Decline – Post-Market Analysis

NIFTY started the day flat at 19,761 with a gap-up of 45 points. Initially, the index fell 90 points to 19,670 levels, made a double-bottom, rose 80 points to 19,750 levels, and took rejection. Then, it gave a sharp fall of nearly 260 points till 19,490. Nifty closed at 19,523, down by 192 points or 0.98%.

Nifty chart Sept 28 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,700 with a gap-up of 112 points. Similar to Nifty, BNF gave a sharp fall of 200 points till the round levels of 44,500 initially, made a double-bottom, shot up 200 points till the day’s high, and took resistance. Then, the index fell gradually to 44,250 levels– a fall of 500 points! BNF closed at 44,300, down by 287 points or 0.64%.

Bank Nifty chart Sept 28 - post-market analysis | marketfeed

All other indices closed in the red. Nifty IT (-2.19%) and Nifty FMCG (-1.9%) fell the most!

Major Asian markets closed mixed. European markets are currently trading mixed.

Today’s Moves

Larsen & Toubro (+1.52%) was NIFTY50’s top gainer. The stock hit a 52-week high of ₹3,050.5 after brokerage firm UBS increased its price target for L&T from ₹3,040 to ₹3,600 per share.

MCX (+8.24%) surged after the company confirmed that it will implement a new web-based Commodity Derivatives Platform (CDP) next week.

CE Info Systems (+7.4%) jumped up to 11% on the back of strong volumes. The stock hit a 52-week high of ₹2,108.95 today.

Tech Mahindra (-4.59%) was NIFTY50’s top loser.

IT stocks LTI Mindtree (-3.16%), Wipro (-2.48%), Infosys (-1.88%), TCS (-1.46%), and others fell sharply.

Shares of HAL have split in the ratio of 1:2. The shares, which had a face value of ₹10 before Sept 28, have halved and are trading at a face value of ₹5 each now.

Berger Paints (-5.6%) fell after Kotak Institutional Equities downgraded the stock to ‘Sell’, citing weak demand and rising competition.

Markets Ahead

Markets are taking rejections from the high levels. As discussed in the post-market report yesterday, the 23% Fibonacci levels acted as good resistance. The indices continued the fall and hit our targets: 19,560 in Nifty and 44,300 in Bank Nifty.

Both indices are still under a sell-on-rise structure.

Nifty: The immediate support for Nifty is near the 19,500 round levels. A breakdown from there could take the index down to 19,400 levels. The important resistance to watch out for is the 19,560-600 levels. A breakout from these levels may give us targets of 19,700-740. 

Bank Nifty: The immediate support for BNF is near 44,200 levels. A breakdown could give us targets of 44,000. The index has an important resistance near 44,500 levels. A breakout from there can give us targets of 44,700-750.

Every rise is being sold. So wait for vital reversal levels to be crossed for confirmation of a trend reversal and option buying trades.

As per reports, the increased selling activity by foreign institutional investors (FIIs) is one of the main factors contributing to high volatility in the Indian market. FIIs have sold shares worth nearly ₹12,475 crore in September! The US Federal Reserve’s hawkish stance on interest rates has added to the market’s anxiety.

How was monthly expiry trading today? Did you trade in Nifty or Bank Nifty (or both)? Let us know in the comments below!

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Sellers Trapped! Bullish Monthly Expiry? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,637 with a gap-down of 27 points. The index initially fell nearly 100 points till 19,550 levels in an hour. Then, the markets reversed with strength, recovering nearly 175 points from the day’s low to 19,730 levels. Nifty closed at 19,716, up by 51 points or 0.26%.

Nifty chart - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,465 with a gap-down of 160 points. After consolidating initially, the index gave a sharp fall of 300 points to 44,180 levels. Then, similar to Nifty, BNF gave a strong upward rally of 500 points till 44,700 levels. BNF closed at 44,588, down by 36 points or 0.08%.

Bank Nifty chart - post-market analysis | marketfeed

All other indices except Nifty Finserv (-0.13%) closed flat-to-green. Nifty Pharma (+1.19%) moved up the most.

Major Asian markets closed mixed. European markets are currently trading flat-to-red.

Today’s Moves

L&T (+1.8%) was NIFTY50’s top gainer. The company’s ₹10,000 crore share buyback plan was subscribed over 7 times.

ITI Ltd (+7.13%) moved up on the back of strong volumes. The stock has rallied nearly 70% in September after the company said it successfully developed branded laptops and micro PCs under the name ‘Smaash’.

Senco Gold (+14%) surged after Ambit Capital said it’s bullish on the company’s expansion prospects in East India.

Titan Company (-1.47%) was NIFTY50’s top loser.

Vedanta (-6.7%) fell sharply to hit a 14-month low after ratings agency Moody’s downgraded the corporate family rating of parent Vedanta Resources Ltd.

Markets Ahead

Markets reversed with a lot of strength from the lows (with help from Reliance and ITC). But it’s currently taking resistance from important levels (23% Fibonacci levels from the top).

Nifty: The important resistance to watch out for is 19,740, which is also the 23% rejection level. A breakout from this level could give us targets of 19,790 and 19,840. Meanwhile, immediate support for Nifty is near 19,680 levels. A breakdown from there can give us targets of 19,630 and 19,560.

Bank Nifty: The index faces an important resistance near 44,700 levels, which is also the 23% fib level. A breakout from 44,700 could give us targets of 44,800 and 44,900. The immediate support is near 44,500 round levels, and a breakdown from here will give us targets of 44,320 and 44,200.

Being monthly expiry tomorrow, if there is a gap-down, major indices could fall further down. If there’s a gap-up, they could be volatile and bullish.

As per reports, concerns about global interest rates and high crude oil prices are being balanced by positive domestic factors like expected economic growth and the potential for good corporate earnings.

What levels are you watching out for monthly expiry tomorrow? Let us know in the comments section!

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Nifty Closes Flat Again! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,682. The index consolidated within a 60-point range throughout the day between 19,640 and 19,700. Nifty closed at 19,664, down by 9.85 points or 0.05%.

Nifty chart Sept 26 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 44,722 with a small gap-down of 43 points. The index consolidated in a 130-point range with a bearish bias— moving in a channel. BNF closed at 44,624, down by 141 points or 0.32%.

Bank Nifty chart Sept 26 - post-market analysis | marketfeed

All indices except Nifty FMCG (+0.52%), Nifty Auto (+0.35%), Nifty Metal (+0.31%), and Nifty Realty (+0.31%) closed in the red. Nifty Media (-0.86%) fell the most.

Major Asian markets closed up to 1.4% in the red. European markets are currently trading in the red.

Today’s Moves

Eicher Motors (+2.61%) was NIFTY50’s top gainer.  Brokerage firm Jefferies maintained its ‘Buy’ rating on the stock while raising its price target from ₹4,000 to ₹4,150. 

Cochin Shipyard (+11.07%) surged on the back of strong volumes. Defence stocks Garden Reach Shipbuilders and MTAR Tech gained up to 14%. 

As per a report from ICRA, private sector firms are likely to get defence contracts worth ₹60,000 crore in FY25.

Shares of Vodafone Idea (+6.98%) closed at a 20-month high.  The company’s shares have been rising since it announced a 50% payment of its license fees and spectrum usage charge (SUC) dues for the March quarter.

Tech Mahindra (-1.3%) was NIFTY50’s top loser. 

Indiabulls Real Estate (-3.46%) fell after Creditcorp Investment Advisors sold 30.95 lakh shares of the company in a bulk deal.

Markets Ahead

Markets continued to stay at lower levels, and no signs of strength were seen. Two consecutive Doji candles have been formed in the major indices. And depending on the highs and lows getting breached, we can expect the indices to move further in that direction.

Nifty: The current support to watch out for is near 19,630 levels. A breakdown from here could give us a target of 19,500. The important resistance is near the 19,700 levels, and a breakout from there may give us a target of 19,800 on the upside.

Bank Nifty: The immediate support to look out for is near 44,600. A breakdown from this level can give us a target of 44,300. On the other hand, a major resistance for BNF is near 44,800. A breakout from this round level can give us a target of 45,000 and 45,200

It was a relatively easy FIN NIFTY expiry for non-directional option sellers as the markets consolidated. However, option buyers might have had a bad day because of the quick moves in both directions.

The overall sentiment in the Indian markets remains weak as investors exercise caution in the wake of weak global cues and increased selling activity by FIIs.

How did FIN NIFTY expiry go? Let us know in the comments section!

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

Categories
Daily Market Feed Post Market Analysis

Insane Moves in Nifty Ahead of Monthly Expiry! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,678. After opening, the index fell sharply to 19,600 and took support there. It then moved up by 130 points to 19,730 levels to make a double top. The index fell again by 100 points till 19,630 levels. Nifty closed at 19,674, up by 0.3 points or 0.00%.

Nifty chart Sept 25 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 44,615. The index gave multiple swings of more than 300 points initially between 44,700 to 44,400, then 44,400 to 44,950, and finally 44,950-44580. BNF closed at 44,766, up by 154 points or 0.35%.

Bank Nifty chart Sept 25 - post-market analysis | marketfeed

Nifty Realty (+1.52%) closed well in the green, while Nifty IT (-0.78%) fell the most.

Major Asian markets closed mixed. European markets are currently trading in the red.

Today’s Moves

Bajaj Finance (+4.6%) was NIFTY50’s top gainer. The company is reportedly planning a mega fundraise to the tune of $800 million-$1 billion. 

Indiabulls Real Estate (+9.32%) surged on the back of strong volumes.

MCX (+6.6%) rose up to 9% to hit a one-year high of ₹1,952.2 amid reports of the launch of a new trading platform.

Hindalco Industries (-1.98%) was NIFTY50’s top loser. 

Delta Corp (-18.59%) crashed to a 33-month low after the company received tax notices totalling ₹16,822 crore from the Directorate General of GST Intelligence on Friday.

Markets Ahead

The indices have become extremely volatile ahead of monthly expiry— making wild moves on the upside and downside. The resistance levels were respected, and the indices have come down. This indicates that the selling pressure in the markets could continue.

Nifty: The immediate resistance to watch out for is near 19,730 levels. A breakout from this level can give us a target of 19,800 on the upside. The immediate support is near today’s low (19,600 levels). A breakdown from there can make the index fall to 19,500.

Bank Nifty: The immediate support to look out for is near 44,600. A breakdown from this level can give us a target of 44,300. On the other hand, a major resistance for BNF is near 45,000. A breakout from this round level can give us a target of 45,200.

As per reports, investors are confused as major central banks are sending mixed signals. Last week, the U.S. Federal Reserve said it’s not raising interest rates for now but might do so later this year. Meanwhile, the European Central Bank (ECB) and the Bank of England (BoE) suggested they might not raise rates further.

If the US Fed keeps rates high for too long, it could harm the US economy’s chances of a soft landing (a gradual, relatively painless economic slowdown). And that could affect economies worldwide.

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!