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Nifty Hits Record High at 20,000! What Next? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,890 with a gap-up of 70 points (above important resistance levels). The index continued the up move gradually to hit a fresh all-time high of 20,008.15 by moving 140 points from the intraday low to high. Nifty closed at 19,996, up by 176 points or 0.89%.

Nifty chart September 11 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 45,340 with a gap-up of 194 points. Initially, the index consolidated near the previous high of 45,350 levels. Then, it eventually gave a breakout and moved up 400 points from the intraday low to 45,600 levels. BNF closed at 45,570, up by 414 points or 0.92%.

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

All indices except Nifty Media (-0.33%) closed in the green. Nifty PSU Bank (+3.13%) moved up the most.

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

Today’s Moves

Adani Ports (+6.96%) was NIFTY50’s top gainer.

Adani Ent (+3.8%) also closed well in the green today. As per reports, promoters have boosted their holdings in the Adani Group companies as part of an ongoing strategy to recover from the negative publicity.

SJVN (+20%) zoomed after the company’s green energy arm signed a power purchase agreement with Bhakra Beas Management Board to develop an 18 MW solar power project.

ITI (+19.97%) jumped after the company said it has developed a laptop and micro PC in association with Intel Corporation.

Coal India (-1.12%) was NIFTY50’s top loser. 

Natco Pharma (-7.7%) fell sharply after the company was named a defendant in an antitrust lawsuit in the US last week.

Markets Ahead

As mentioned in our earlier post-market report, Nifty and Bank Nifty are yet to catch up to our target of a record high. As markets have been stretched out a lot without much of a retracement, major indices could face some rejection near their all-time highs. Moreover, the increase in India Vix by nearly 6% today indicates a similar scenario. So wait for proper price action to sell. If the rally continues, it’s wise to stay with the trend.

Nifty: The index is at an all-time high! The immediate resistance to watch out for will be 20,000 round levels. If there’s a big gap, some profit booking could be seen. And if there’s a gap-down, we could witness a retracement. So, the important support now is 19,930 levels. A breakdown from there can give us targets of 19,870 and 19,820.

Nifty is also respecting a trendline (as shown below). So watch out for the breakdown from this trendline for a retracement.

Bank Nifty: The important support for the index is near 45,400. A breakdown from there can give us targets of 45,150 and 45,000. Meanwhile, the important resistance to watch out for is near the 45,700 level. A breakout could give us targets of 46,000 and 46,250 levels eventually. 

As per market experts, investors’ optimism about India’s role in the G20 summit outweighed concerns about crude oil prices hitting $90. Today’s up-move in Nifty was mainly driven by a rise in heavyweights like Reliance and banks.

Do you think Nifty will move past 20k tomorrow? Let us know in the comments section of the marketfeed app.

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Nifty to Hit All-Time High Soon? – Post-Market Analysis

NIFTY started the day at 19,774 with a gap-up of 47 points. After an initial down move till yesterday’s closing, the index moved up gradually to 19,870 levels. Nifty closed at 19,819, up by 92 points or 0.47%.

Nifty chart Sept 8 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,953 with a gap-up of 75 points. After consolidating near the opening levels, the index gave a breakout from the important resistance of 45,000 and moved up 400 points to 45,380 levels. BNF closed at 45,156, up by 469 points or 1.06%.

Bank Nifty chart Sept 8 - post-market analysis | marketfeed

All other indices except Nifty Realty (+2.12%), Nifty Auto (+0.67%), and Nifty PSU Bank (+0.32%) closed flat-to-red. Nifty Media (-0.97%) fell the most.

Major Asian markets closed up to 1.3% in the red. European markets are currently trading in the red.

Today’s Moves

Coal India (+2.96%) was NIFTY50’s top gainer. The stock has surged nearly 22% in a week!

Stocks related to the power sector were in high demand today. NTPC (+2.63%), PFC (+12.23%), REC (+10.02%), and Tata Power (+1.95%) moved up.

Sobha (+10.89%) jumped after HDFC Securities said it expects a potential upside of around 66% in the stock over the next 12 months.

Eicher Motors (-0.93%) was NIFTY50’s top loser. 

Natco Pharma (-3.5%) fell after the company was named a defendant in an antitrust lawsuit in the U.S.

Markets Ahead

As discussed earlier, the markets have turned bullish and buy-on-dips can be planned. The targets of 19,840 in Nifty and 45,370 in Bank Nifty were hit, and the bullishness could continue till immediate supports are breached.

Nifty: The index is near a very important resistance zone of 19,850-870. A breakout from this level can take the index to the all-time high (ATH) of 19,990 levels. Now, the important support zone for Nifty will be the previous swing of 19,730 levels. A breakdown from there with a re-test may take the index down to 19,680 and 19,630 levels.

Bank Nifty: The index finally broke out. Now, the immediate support to watch out for will be 45,150. A breakdown from there can take the index down to 45,000 and 44,800 levels. The immediate resistance would be 45,350. A breakout from that level can give us targets of 45,740.

The indices are on a strong uptrend. Many market participants are likely to buy during price dips, aiming to push the markets higher. This strategy is expected to continue until the key breakout levels of 19,640 in Nifty and 45,000 in Bank Nifty are maintained.

Meanwhile, global markets have stabilized today, while the U.S. Dollar appeared to be on its longest winning streak since 2014, thanks to a strong U.S. economy. Investors are anticipating that central banks will keep interest rates unchanged in the next two weeks.

How did this week go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

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

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Bullishness Confirmed in Nifty!  – Post-Market Analysis

NIFTY started the day at 19,598 with a small gap-down of 12 points. After an initial fall of 50 points to 19,550 levels, the index made a strong uptrend rally of nearly 200 points to 19,750 levels. Nifty closed at 19,727, up by 116 points or 0.59%.

Nifty chart Sept 7 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 44,418. The index moved up nearly 350 points till 44,700 zones, took rejection, and fell till the opening levels. But then, similar to Nifty, BNF also showed bullishness and rose to 44,900. BNF closed at 44,878, up by 469 points or 1.06%.

Bank Nifty chart Sept 7 - post-market analysis | marketfeed

All indices except Nifty FMCG (-0.4%) and Nifty Pharma (-0.32%) closed flat-to-green. Nifty Realty (+1.48%) moved up the most.

Major Asian markets closed up to 1.3% in the red. European markets are currently trading mixed.

Today’s Moves

Coal India (+7.1%) was NIFTY50’s top gainer. The stock hit over a four-year high of ₹274.75.

Cochin Shipyard (+20%) hit a 52-week high of ₹1,146.15 on the back of a strong business outlook.

Other defence stocks like Mazagon Dock Shipbuilders (+9.5%) and Paras Defence (+4.08%) closed with strong gains today. 

Tata Consumer (-2.3%) was NIFTY50’s top loser. Yesterday, the FMCG company denied reports that it was in talks to buy a stake in Indian snack food chain Haldiram’s.

GSFC (-7.3%) fell sharply today.

Brightcom Group (-5.04%) fell for the eleventh consecutive session. The stock has been in a free fall as the company battles an investigation regarding the impairment of assets worth ₹868 crore via its international subsidiaries.

Markets Ahead

We knew about the importance of 19,600 levels in Nifty and talked about how if this level was crossed, we could expect a turnaround in the markets. And we witnessed this in both Nifty and Bank Nifty today.

Now, we could consider buying during dips in Nifty. In Bank Nifty, focus on the 45,000 round level. If it holds, it’s important to watch for the resistance level to be crossed for confirmation in the banking index as well.

Nifty: The major resistance level has been broken and the index gave a breakout. Now, the important support for Nifty will be the 19,620-640 zone. A breakdown from there can give us targets of 19,560 and 19,500. The immediate resistance to watch out for will be 19,740. A breakout from this level will take the index to 19,780 and 19,840 levels.

Bank Nifty: Reversal levels and important round level resistance is at 45,000. If there’s a breakout from 45,000, we could consider a buy-on-dips strategy with a target of 45,120 and 45,370 levels. The immediate support level to watch out for is 44,550-600. A breakdown from there can give us targets of 44,200 and 44,000.

Thursdays are now dedicated to Nifty expiry. As a result, the open interest (OI) per strike has doubled. Today, there were an astonishing 10 lakh open contracts. This surge is because Bank Nifty traders have shifted their positions to Nifty after closing their positions in Bank Nifty expiry on Wednesday.

When a large number of contracts go into trouble, it can trigger a rapid short-covering rally. This is precisely what happened today. The low volatility (low Vix) market today created problems for non-directional option sellers as call premiums surged 10 to 20 times within a short period in the second half of the day. This forced all call sellers to book losses. On the other hand, it was a favourable day for directional traders who accurately predicted the upside and held their positions until the end.

How did expiry day trading go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

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

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Nifty Closes Above 19,600 Amid Volatility – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,581. Initially, the index consolidated in a 50-point range till 11:30 AM, broke down from the consolidation, and gradually fell to 19,490 levels. Then, it gave a sharp rebound of nearly 145 points, thanks to a 3 PM move. Nifty closed at 19,611, up by 36 points or 0.18%.

Nifty chart - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,494 with a small gap-down of 37 points. Similar to Nifty, Bank Nifty consolidated initially in a nearly 150 range. Then, the index fell gradually to 44,205 levels. After taking support there, BNF rebounded around 325 points! BNF closed at 44,409, down by 123 points or 0.28%.

Bank Nifty chart - Post-Market Analysis | marketfeed

All other indices except Nifty FMCG (+1%), Nifty Pharma (+0.9%), and Nifty Media (+0.2%) closed in flat-to-red. 

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

Today’s Moves

Tata Consumer Products (+3.85%) was NIFTY50’s top gainer. Reuters reported that Tata Group’s consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram’s. 

FACT (+18.8%) surged on the back of strong volumes. The stock has rallied more than 350% over the past year.

Sugar stocks Balrampur Chini Mills (+2.03%), EID Parry (+8%), Shree Renuka Sugar (+5.34%), Rana Sugars (+5.52%), and others moved up after Avlean, the world’s largest sugar trader, said it expects a year of sugar shortages.

Vodafone Idea (+10%) moved up in the final minutes of trading.

Axis Bank (-1.67%) was NIFTY50’s top loser.

IRFC (-4.8%) fell sharply today after zooming more than 55% in the seven previous trading sessions.

Markets Ahead

Nifty: The index is currently testing a major resistance around 19,600. We can’t confirm today’s 3 PM breakout as a major one, and a day candle close above 19,650 can be watched. In the upcoming days, we can watch 19,500 as an important support.

A good breakout from 31,500 happened in Nifty IT. Let’s see if it will sustain or not.

Bank Nifty: The index is presently in a phase of consolidation, and a breakout can be expected in the coming days. The 43,750-44000 is acting as a demand zone. Also, 44,280 can be watched as an intraday support.

HDFC Bank is trying to make a bounce back from the 1578 level, but ICICI Bank continues to face resistance from the downtrend line.

A sudden jump in crude oil prices has had a ripple effect across the globe— reviving concerns regarding inflation and the U.S. Federal Reserve possibly raising interest rates. This made U.S. bond yields go up, and foreign investors stopped buying in the Indian market. However, our markets are resilient today. Investors still believed things would get better, and that helped the market recover from the initial shock.

How did Bank Nifty expiry go? Let us know in the comments section of the marketfeed app.

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

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Consolidation at the Top! Breakout or Breakdown? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,564 with a gap-up of 36 points. Throughout the day, the index consolidated within just a 55-point range between 19,530 and 19,580 levels. Nifty closed at 19,574, up by 46 points or 0.24%.

Nifty chart September 5 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,625 with a small gap-up of 47 points. Unlike Nifty, Bank Nifty showed weakness today. After making a double top near 44,700 levels, the index fell more than 250 points to 44,400 levels. BNF closed at 44,532, down by 46 points or 0.1%.

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

All other indices except Nifty Finserv (-0.17%) closed flat-to-green. Nifty Media (+3.19%) moved up the most.

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

Today’s Moves

Apollo Hospital (+3.31%) was NIFTY50’s top gainer. The company launched an ‘enhanced connected care’ program to improve its patient monitoring system. 

MMTC (+20%) hit 20% upper circuit on the back of strong volumes. The stock has rallied 50% in 3 trading sessions.

Raymond (+9.85%) hit a 52-week high of 2,240 today after brokerage firms Jefferies and Motilal Oswal initiated coverage on the stock with a ‘Buy’ rating.

UltraTech Cement (-1.49%) was NIFTY50’s top loser. 

Angel One (-3.75%) fell sharply. The company’s gross client acquisitions rose 64.9% YoY and 19% over last month to 7.3 lakh.

Markets Ahead

Markets are near resistance zones and holding major levels. A breakout on the upside can take the markets further up. And if rejection is taken, the indices can continue the down move with strength.

Nifty: The major resistance level for the index is at 19,600, which is also the Fibonacci rejection level of 50% drawn from the all-time high (ATH) of 19,990 levels. A breakout from 19,600 can confirm the trend reversal, and markets can turn bullish. We could plan to buy on dips, but if Nifty breaks the current support zones of 19,520, the index can again fall to 19,460 and 19,360 levels.

Bank Nifty: The important 50% fib rejection is near 45,000 round levels. But the immediate resistance level to watch out for is 44,800. The immediate support is near 44,400 levels, and a breakdown from there can take the index down to 44,000.

Fin Nifty: Being FINNIFTY expiry today, India Vix was at all-time lows below 11 and option premiums were very low. This created some confusion for option sellers. The index was bearish throughout the day— moving down gradually. As the fall was not quick, the implied volatility (IV) and premiums didn’t spike much, which could have created some trouble for option buyers. But it was a relatively easy expiry for option sellers.

The G20 Summit will kick off on Sept 8 in New Delhi. Leaders representing the world’s 20 major economies will address and seek resolutions for concerns like digital transformation, climate financing, Sustainable Development Goals (SDGs), food security, and other pressing issues.

How did Fin Nifty expiry go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on marketfeed’s YouTube channel!

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V-Shaped Recovery From Lows! Retracement or Trend Reversal Next? – Post-Market Analysis

NIFTY started the day flat at 19,258. Right from the first 5 min candle, the index moved up with strength, making higher lows, and moving up over 200 points to 19,460 levels. Nifty closed at 19,435, up by 181 points or 0.94%.

Nifty chart September 1 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 43,996. The index initially fell to 43,830 levels. But similar to Nifty, Bank Nifty also gave a strong upward rally of more than 700 points from the intraday low to resistance levels of 44,500 levels. BNF closed at 44,436, up by 446 points or 1.02%.

Bank Nifty chart September 1 - post-market analysis | marketfeed

All indices except Nifty Pharma (-0.56%) closed in green. Nifty Metal (+2.8%) moved up the most.

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

Today’s Moves

NTPC (+4.7%) was NIFTY50’s top gainer. The company said it will partner with Oil India to explore collaborations in the renewable energy, hydrogen space.

BHEL (+12.29%) surged after the company received an order worth ₹15,530 crore from state-run NTPC.

Stocks in the railway sector: RailTel (+15.5%), IRFC (+11.06%), RVNL (5.5%), and IRCTC (+2.43%) moved up with strength today.

Cipla (-0.9%) was NIFTY50’s top loser. 

Brightcom Group (-5%) hit lower circuit for the 8th straight session since SEBI’s interim order.

Markets Ahead

Both indices witnessed strong buying at crucial support levels— covering the fall from the previous two sessions. This could just be a retracement of the fall from highs. So it’s essential to see if the markets break major resistance levels for a confirmed reversal.

Nifty: On a 2-hour time frame, the index is moving in a range between 19,240 and 19,460 levels— giving moves on both sides. The index has to cross the 19,600 zone for a trend reversal (which also represents the 50% Fibonacci levels). Till then, the immediate resistance will be 19,460 levels. If that’s breached, 19,520 and 19,600 levels could be the targets. The important support to watch out for is the 19,390-400 levels. And if that’s broken, the index can fall to 19,360 and 19,300 levels again.

Nifty 2hr chart | marketfeed

Bank Nifty: The index is also moving in a very wide range between 43,800 and 44,800 levels, giving volatile moves. This up-move can still be a retracement as the 50% Fib level in BNF at 45,000 has to be crossed for trend reversal. Until then, the index will still be under a bearish trend. Now, the important resistance is 44,500— and a breakout from there can give us targets of 44,800 and 45,000. The immediate support level to look out for is 44,200. A breakdown from that level can give us targets of 44,000 and 43,800.

Today’s market up-move can be attributed to positive global signals, a domestic manufacturing PMI that exceeded expectations, and encouraging GDP growth data.  India’s S&P Global Purchasing Managers’ Index (PMI) surged to 58.6 in August from July’s 57.7— reaching its highest point since May.

How did this week go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

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

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Supports Not Held! Bearish Monthly Expiry? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,433 with a gap-up of 90 points (near the resistance zone of 19,420 levels). The index tried to hold those levels by consolidating within a very small range of nearly 30 points. But after 2 PM, the index broke down from 19,420 levels, filled the gap made at opening, and closed near the support zone of 19,350. Nifty closed at 19,347, up by 4.8 points or 0.02%.

Nifty chart August 30 - post-market analysis

BANK NIFTY (BNF) started the day at 44,706 with a gap-up of 211 points. After a small up-move, the index took rejection at 44,780 levels and gradually fell around 630 points to 44,150 levels. BNF closed near the important support level at 44,232, down by 262 points or 0.59%.

Bank Nifty chart August 30 - post-market analysis

All other indices except Nifty PSU Bank (-0.3%) closed flat-to-green. Nifty Realty (+1.42%) moved up the most.

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

Today’s Moves

Tata Steel (+2.13%) was NIFTY50’s top gainer. The stock has hit a 7-month high.

Uflex (+19.99%) zoomed on the back of strong volumes. The company recently appointed Rashmi Verma as an independent and non-executive director for 3 years.

BSE (+6.36%) announced that all futures & options contracts of BSE Bankex will expire on Monday instead of Friday. The new rules come into effect on October 16.

10 crore shares of Zomato (+5.39%) traded in 6 block deals during the pre-market session today.

PowerGrid (-1.61%) was NIFTY50’s top gainer.

Shares of Brightcom Group (-5.04%) hit lower circuit again. The company announced the resignation of Chairman Suresh Reddy and CFO Narayana Raju amidst a crackdown by SEBI.

Markets Ahead

Bank Nifty is looking very weak compared to Nifty. The indices could still be in a down-trend till the major resistance of 19,500 in Nifty and 45,000 in Bank Nifty are crossed.

Nifty: The index gave a closing near 19,350 zones. A flat opening and a down move or a gap-down opening could take the index down to 19,300 and 19,240 levels. Meanwhile, a flat opening and up-move or a gap-up opening will take Nifty back up to 19,420 levels. And if that resistance is broken, 19,500 can be tested.

Bank Nifty: The index has taken support from a trendline and also the horizontal support of 44,200. If 44,200 is breached, the index could fall to 44,000 and 43,750 levels. The important resistance level to watch out for will be 44,500.

Being a monthly expiry tomorrow, we can expect the index to be volatile and give moves on both sides as the indices are near important levels. So trade with caution!

Today, positive global sentiments initially boosted the Indian market. Weak monthly job openings data raised expectations of a pause in interest rate hikes by the US Federal Reserve. Moreover, Chinese banks’ decision to lower mortgage rates has favourably impacted Indian metal stocks. 

However, weak economic data from Europe has led to weakness in the global markets, which caused the Indian market to fall as well in the second half.

What levels are watching out for expiry tomorrow? Let us know in the comments section of the marketfeed app.

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Calm Fin Nifty Expiry! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,374 with a gap-up of 68 points. The index immediately fell below the resistance levels of 19,360 levels and mostly moved in a very small range of 40 points throughout the day between 19,320 and 19,360 levels. Nifty closed at 19,342, up by 36 points or 0.19%.

Nifty chart August 29 - post-market analysis

BANK NIFTY (BNF) started the day at 44,655 with a gap-up of 161 points. Initially, the index fell to 44,500 levels. Then, similar to Nifty, BNF also consolidated within a range of 100-120 points and closed exactly at yesterday’s closing price of 44,495.

Bank Nifty chart August 29 - post-market analysis

All indices except Nifty PSU Bank (-0.49%), Nifty FMCG (-0.33%), and Nifty Pharma (-0.27%) closed flat-to-green. Nifty Realty (+1.69%) and Nifty Metal (+1.28%) moved up the most.

Major Asian markets closed in the green. European markets are currently trading in the green.

Today’s Moves

Hindalco (+2.18%) was NIFTY50’s top gainer. 

Other metal stocks like Jindal Stainless (+3.68%), NALCO (+2.54%), Jindal Steel (+3.12%), Tata Steel (+1.6%), etc., also moved up with strength. 

BEML (+13.17%) surged on the back of a strong order book position of over ₹10,000 crore.

Bharti Airtel (-1.74%) was NIFTY50’s top loser. In a block deal, 1.1 cr shares (0.16% equity) of the telecom company worth ₹922.8 crore changed hands at an average of ₹852.9 per share.

Union Bank (-6.3%) fell sharply today. The bank raised equity capital of ₹5,000 crore through a qualified institutional placement (QIP) on Aug. 25, 2023.

Markets Ahead

Buyers are trying to hold the important support levels of 19,300 in Nifty and 44,500 in Bank Nifty. Both indices haven’t crossed the levels we discussed in yesterday’s post-market analysis, and consolidated today.

Nifty: The immediate support for Nifty will be 19,300, and immediate resistance will be 19,360 levels. A breakout from here could give us a target of 19,420, and a breakdown can give us targets of 19,240 and 19,100, eventually.

Bank Nifty: The make-or-break level will be 44,500 as the index closed exactly there. A gap down could take the index to 44,430 and 44,350 on the downside. Meanwhile, 44,670 and 44,750 levels can be watched on the upside.

Fin Nifty: The index had a very calm day as the index consolidated throughout the day within the 50-point range (near 19,800). So it was an easy day for option sellers today.

Heavyweight stock Reliance Industries has fallen for the fourth consecutive trading session, exerting downward pressure on Nifty! This marks the first time in three months that RIL has experienced such sustained losses.

How did FIN NIFTY expiry go? Are you in net profit or loss today? Let us know in the comments section of the marketfeed app.

marketfeed wishes all our readers a VERY HAPPY ONAM! 🌼

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Markets Back to Supports! Reliance Falls 1% Amid AGM – Post-Market Analysis

NIFTY started the day at 19,298 with a gap-up of 32 points. Initially, the index faced a small resistance near the 19,300 level and fell till Friday’s low. Then, it gradually moved to 19,360 levels (more than a 115-point rally), where it took resistance. The index slowly fell back to 19,300 levels over the last 1½ hours (during Reliance’s AGM). Nifty closed at 19,306, up by 40 points or 0.21%.

Nifty chart August 28 - post-market analysis

BANK NIFTY (BNF) started the day at 44,253 with a small gap-up of 22 points. After the initial consolidation, Bank Nifty moved up nearly 410 points from the intraday low of 44,200 to 44,610— crossing the important resistance of 44,500. BNF closed at 44,494, up by 263 points or 0.6%. 

Bank Nifty chart August 28 - post-market analysis

All indices except Nifty IT (-0.46%) and Nifty FMCG (-0.23%) closed in the green. Nifty Realty (+0.94%) moved up the most. 

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

Today’s Moves

PowerGrid (+2.69%) was NIFTY50’s top gainer on the back of strong volumes.

Indiabulls Housing Finance (+10.99%) surged. Recently, the company repaid ₹2,232 crore of external commercial borrowings (ECBs) raised in 2018 from foreign banks.

Reliance (-1%) was NIFTY50’s top loser. The company held its Annual General Meeting today. The next generation of Ambani family – Isha, Akash and Anant Ambani – will join the board of RIL. Mukesh Ambani will remain as the Chairman for 5 years.

Brightcom Group hit a 5% lower circuit after the Enforcement Directorate (ED) carried out multiple searches at various locations of the company.

Markets Ahead

Markets took support from the lows created on Friday and gave a small retracement. As the markets were under huge selling pressure, there was not enough strength to see a quick up-move. But the indices are holding the low levels.

Nifty: The index has closed above the important resistance of 19,300. That level can now act as immediate support. But the major support will be the 19,240 zone. And if there’s a gap down or flat opening below 19,300, 19,240 levels will be tested again, and the index might even fall to 19,100 and 18,900 levels.

Meanwhile, the immediate resistance to look out for will be today’s high of 19,360. A breakout from there can give us targets of 19,420 and 19,475. 

Bank Nifty: The index couldn’t close above 44,500, but the buying strength is still there. If there’s a gap-up opening or flat opening followed by an up-move, the index can move further up to 44,950 levels. In that case, the support zone to watch will be 44,500 levels. If there’s a gap down opening or negative movement after opening, BNF can fall to 44,200 levels (which was today’s swing and there’s also a trendline support drawn from last week’s low).

Markets have not turned bullish completely and major resistance of 19,500 in Nifty and 45,000 in Bank Nifty have to be crossed to expect a reversal. Till then, the indices can be sold in every uptick.

Fin Nifty: Being Fin Nifty expiry tomorrow, the important support zone to watch is 19,500-520 levels. The important resistance is 19,900. A breakout from today’s high of 19,800 will take the index to 19,900 and eventually to 20,000 levels. A breakdown from 19,740 levels will take the index down to 19,600 levels and can be choppy in this zone.

What levels are you watching out for FIN NIFTY expiry? Let us know in the comments section of the marketfeed app.

marketfeed wishes all our readers a VERY HAPPY ONAM! 🌼

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5th Bearish Weekly Closing in Nifty! – Post-Market Analysis

NIFTY started the day at 19,297 with a gap-down of 89 points (below the important support zone of 19,300). Throughout most of the day, the index consolidated in a 70-point range. But in the end, it gave a bearish closing— breaching the previous weekly low. Nifty closed at 19,265, down by 120 points or 0.62%.

Nifty chart August 25 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,276 with a gap-down of 220 points. The index initially gave a sharp fall to 44,000 levels, made a double bottom, and tried moving up. But the opening levels of 44,300 zone acted as resistance. BNF closed at 44,231, down by 264 points or 0.59%. 

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

All indices closed in the red today. Nifty PSU Bank (-1.51%) and Nifty Realty (-1.31%) fell the most. 

Major Asian markets closed up to 2% in the red. European markets are currently trading in the green.

Today’s Moves

Bajaj Finserv (+2.4%) was NIFTY50’s top gainer. Nomura has double-upgraded the stock to ‘Buy’.

KFin Tech (+11.29%) surged on the back of strong volumes. Brokerage firm Jefferies has initiated coverage on the stock with a target price of ₹500.

Shares of Vodafone Idea (+9.4%) rallied amid reports that the struggling telecom operator has received term sheets from several potential investors. 

Dr Reddy’s Labs (-2.17%) was NIFTY50’s top loser.

Shoppers Stop (-12.7%) crashed after the company’s MD and CEO Venugopal Nair announced his resignation.

Markets Ahead

As discussed in the earlier post-market reports, the targets of 44,000 in Bank Nifty and 19,250 levels in Nifty are achieved, which gives us confirmation that indices have turned bearish.

Nifty has closed below a very important long-term support zone of 19,300. It has also breached the previous week’s low, where the index has taken support near 19,250 levels. And if Bank Nifty also joins the party, both indices may turn into near-term bearishness and continue to move further down.

Nifty: In the next trading session, bearishness can be confirmed if the index opens flat and crosses below today’s low of 19,230 levels. Look out for sell-on-rise opportunities! If there’s a huge gap down, the index can retrace and continue the fall again. If there’s a gap-up, Nifty can be choppy. So on the downside, the targets will be 19,000 and 18,900 levels. On the upside, the index has to give a closing above 19,300; so wait for confirmation.

Bank Nifty: The index took support from the round levels of 44,000. But the overall trend is bearish. So if the index falls below today’s low of 44,000 levels (after opening flat), the first target of 43,700 can be achieved. On the other hand, the index has to cross 44,350 levels for an up-move. 

But as the indices are bearish, if there’s a huge gap-up on gap-down after proper price action, look for sell-on-rise opportunities till 44,500 is crossed back again.

Global markets are awaiting comments from Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium (7:30 PM IST) to understand the potential direction of US monetary policy.

How did this week go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

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Nifty Falls Ahead of Jackson Hole Meeting. Bearishness to Continue? – Post-Market Analysis

NIFTY started the day at 19,535 with a gap-up of 91 points (above the important psychological round level resistance of 19,500). It moved with a lot of strength to 19,580 levels, where the index made an evening star pattern, and gave a fall of nearly 200 points to 19,370 (day’s low)— not respecting any supports in between and gave a very bearish closing below 19,400. Nifty closed at 19,386, down by 57 points or 0.29% 

Nifty chart August 24 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,704 with a gap-up of 225 points. Similar to Nifty, Bank Nifty also moved up with a lot of strength initially to 44,950 levels. That level acted as resistance, and the index fell 500 points from the day’s high to 44,430 levels.  BNF closed at 44,496, up by 17 points or 0.04%. 

Bank Nifty chart August 24 - post-market analysis | marketfeed

Nifty PSU Bank saw a decline of 0.65% today, while Nifty IT (+0.6%) gained the most.

Major Asian markets closed up to 2% in the green. European markets are currently trading in the green.

Today’s Moves

BPCL (+1.87) was NIFTY50’s top gainer. 

Indiabulls Real Estate (+10.45%) surged on the back of strong volumes.

Coforge (+9.72%) zoomed after 1.54 crore shares (26% stake) of the company changed hands in a block deal.

Stocks of companies related to the Chandraayan-3 mission Paras Defence & Space Tech (+6.07%), MTAR Tech (+3.8%), and others moved up with strength.

Reliance (-1.68%) was NIFTY50’s top loser. However, reports indicate that experts are optimistic about RIL stock in the wake of QIA’s investment in Reliance Retail.

Brightcom Group (-4.98%) continued its sharp fall. Yesterday, SEBI barred the company’s CEO and CFO from the Board of Directors due to alleged financial fraud. The stock has crashed ~15% in 5 days.

Markets Ahead

As said in our earlier post-market reports, Bank Nifty is looking stronger than Nifty. Today, while Nifty was crashing, Bank Nifty was holding strong. However, both indices have given a closing below major support zones— 19,400 in Nifty and 44,500 in Bank Nifty.

Nifty: Today, the index took support near 19,350-360 levels, and that can be viewed as immediate support. Breaching of these levels can give us targets of 19,300 and 19,250 on the downside. The immediate resistance to watch out for will be 19,400-420 levels. The upside move can be slow after the huge sell-off. But if 19,400 is crossed, 19,500 can be re-tested and the down move could continue.

Bank Nifty: The bearish head and shoulder pattern in Bank Nifty is intact, and the index couldn’t give a closing above it. BNF has been under selling pressure. Now, the immediate support/resistance will be 44,500 levels as the markets have closed just near it. If the market stays below 44,500 levels, 44,200 will be the first target, and 44,000 will be the second target. On the upside, BNF can face multiple rejections. So, wait for confirmation for bullish trades.

Being an expiry today, 19,500 put sellers who sold after the gap-up opening got trapped as markets reversed from there and fell. For non-directional option sellers, it was comparatively easier to manage as puts were gradually increasing. But a directional market is never good for non-directional option sellers, so they must have been a slight loss.

All eyes will be on Federal Reserve Chair Jerome Powell, who is headlining the Jackson Hole conference on Friday. He is expected to outline the US Fed’s positions on rate adjustments and inflation in the near term, among other things.

How was expiry day trading? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

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Bullish Weekly Expiry? – Post-Market Analysis

Financial Trading Concept with Green UP Arrow and a Stock Market Chart as a Background. 3D Render

NIFTY started the day at 19,439 with a gap-up of 42 points (near an important resistance zone). It immediately fell to 19,360 support levels after opening. After 10 AM, the index showed strength as banking stocks moved up, gradually crossed the day’s high (19,450 levels), and consolidated. Nifty closed at 19,444, up by 47 points or 0.25% 

Nifty chart August 23 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,064 with a gap-up of 71 points. Initially, the index came down to the round levels of 44,000 and took support. Then, there was no looking back and Bank Nifty showed a lot of strength on the upside— moving nearly 570 points to 44,500 zones! BNF closed at 44,479, up by 485 points or 1.1%. 

Bank Nifty chart August 23 - post-market analysis | marketfeed

All indices except Nifty FMCG (-0.49%), Nifty Metal (-0.13%), and Nifty Pharma (-0.13%) closed flat-to-green. Nifty PSU Bank (+1.7%) moved up the most.

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

Today’s Moves

Hindalco (+2.4%) was NIFTY50’s top gainer. The company plans to invest ₹2,000 crore in a copper & e-waste facility and ₹2,000 crore in a project with Indian Railways.

MMTC (+10.13%) jumped on the back of strong volumes.

Adani Enterprises (-6.2%) was NIFTY50’s top loser. 

Shares of Adani Group companies Adani Trans (-7.26%), Adani Power (-7.07%), and Adani Green (-4.3%) fell despite the conglomerate reporting a 42% YoY rise in pre-tax profit to ₹23,532 crore in Q1.

Brightcom Group (-4.9%) fell sharply after SEBI barred the company’s Chairman & CEO Suresh Kumar Reddy and CFO Narayan Raju from holding any directorial positions.

Markets Ahead

Banking stocks displayed notable strength today, which helped Bank Nifty move up with much more strength than Nifty. Adani Enterprises weighed down Nifty’s performance. Markets have given a good closing above the previous resistances of 19,420 in Nifty and 44,100 in Bank Nifty.

Nifty: The index is now out of the descending channel and gave a closing above it. However, Nifty still has a round level resistance near 19,500. To sustain the upward movement, Nifty must achieve a closing above this level. A breakout from 19,500 can give us targets of 19,600 and 19,640. Meanwhile, the immediate support levels to watch out for will be 19,420-400. A breakdown can give us targets of 19,360 and 300 eventually.

A flat opening with consolidation or a gap-up opening can be positive for the markets tomorrow. A gap-down opening might introduce volatility within a certain range for the index.

Bank Nifty: The index closed below the major round level resistance of 44,500. A breakout on the upside can give us targets of 44,750 and 45,000 eventually. The immediate support level to watch out for is near 44,300 level. A breakdown below 44,300 can push the index to 44,100 and 44,000 levels.

On a daily time frame, the index is at the resistance zone of an inverted Head and Shoulder pattern. So watch out if it’s being respected or giving a strong breakout!

What levels are you watching out for weekly expiry tomorrow? Let us know in the comments section of the marketfeed app.

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