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No Strength in the Market! – Post-Market Analysis

NIFTY started the day at 19,417 with a small gap-up of 23 points. Throughout the day, the index consolidated within just a 60-point range! Nifty closed at 19,396, up by 2.85 points or 0.01% 

Nifty chart August 22 - post-market analysis

BANK NIFTY (BNF) started the day at 44,125 with a gap-up of 123 points. Similar to Nifty, Bank Nifty also consolidated within a 150+ point range throughout the day with negative bias. BNF closed at 43,993, down by 8.75 points or 0.02%. 

Bank Nifty chart August 22 - post-market analysis

All indices except Nifty PSU Bank (-0.49%), Nifty Pharma (-0.2%), Nifty IT (-0.11%), and Nifty Finserv (-0.1%) closed flat-to-green. Nifty Metal (+0.85%) moved up the most.

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

Today’s Moves

Adani Ent (+2.21%) was NIFTY50’s top gainer. ​​Kempas Trade & Investment (a promoter group company) acquired 2.53 crore shares of Adani Enterprises between August 7-18, raising its overall stake in the company to 69.87%.

BHEL (+10%) hit a six-year high of ₹112.85. The company secured an order worth ₹4,000 crore from a wholly-owned subsidiary of Adani Power yesterday.

Linde India (+9.86%) hit a 52-week high of ₹5,900 after the company said it expects healthy growth from the healthcare sector and expansion in the steel sector.

BPCL (-1.46%) was NIFTY50’s top loser. 

Tamilnad Mercantile Bank (-5.2%) fell after its massive 19% rally yesterday. The company has partnered with fintech platform provider Jocata to offer digital lending products to customers.

Markets Ahead

Both indices tried moving up, but there wasn’t enough strength in the market. Nifty and Bank Nifty have been mostly consolidating over the past few trading sessions, and this indicates that there could be a directional breakout or breakdown in the coming days.

Nifty: The immediate support zone for Nifty is 19,380 and 19,350 levels. The immediate resistance is 19,420— and a breakout from this level can give us targets of 19,490, 19,500 and eventually 19,600. On the downside, we can expect a target of 19,300 (a very strong support).

Bank Nifty:  The index has been in a very tight consolidation within a range between 44,100 and 43,700. Let’s wait for a breakout or breakdown from these levels with a re-test for further confirmation of the direction.

Fin Nifty: The index had a bearish day as it fell 130 points from the day’s high. But as the fall was slow and gradual, it never gave trouble for non-directional option sellers. 19,650 remains strong as a resistance level, and 19,500 can act as an immediate support zone.

As per reports, the strong US economy is supporting global growth and global equity markets. However, the sharp spike in US bond yields (the 10-year yield at 4.34% is the highest since 2007) is negatively affecting the flow of capital to emerging markets like India. If bond yields go down and inflation softens, things might improve.

How was FIN NIFTY expiry? Let us know in the comments section of the marketfeed app.

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Markets at Resistance Zones! Jio Financial Gets Listed – Post-Market Analysis

Nifty - post-market analysis | marketfeed

Post-Market Analysis for August 21, 2023:

NIFTY started the day at 19,320 with a small gap-up of 10 points (above the support zone of 19,300). Initially, the index tested the 19,300 round level, and then there was a steady up-move of 120 points to 19,420 levels (which is also a major resistance zone). Nifty closed at 19,393, up by 83 points or 0.43% 

Nifty chart Aug 21 - post-market analysis

BANK NIFTY (BNF) started the day at 43,952 with a gap-down of 101 points. The index moved in the range of the first 5min candle initially, and then gradually went up to 44,100 levels to make a triple-top near that zone. It took rejection there and fell nearly 150 pts after 3 PM. BNF closed at 44,002, up by 150 points or 0.34%. 

Bank Nifty chart Aug 21 - post-market analysis

All indices except Nifty PSU Bank (-0.6%) and Nifty Media (-0.29%) closed in green. Nifty Metal (+1.3%) moved up the most. 

Major Asian markets closed mixed. European markets are currently trading up to 1.1% in the green.

Today’s Moves

Bajaj Finance (+2.7%) was NIFTY50’s top gainer.

Tamilnad Mercantile Bank (+18.19%) hit a 52-week high of ₹581 amid buying action in banking and financial sector stocks. 

NMDC Steel (+12.49%) surged after reports stated that the company’s disinvestment process could pick up after its new plant gets commissioned.

Reliance (-1.4%) was NIFTY50’s top loser. Shares of Jio Financial Services got listed at ₹265 on BSE and ₹262 on NSE today. The stock hit a 5% lower circuit after listing.

Tanla Platforms (-5.76%) fell sharply after the company said it will be ending its partnership with Vodafone Idea in November.

Brightcom Group (-4.9%) shares were locked in lower circuit despite the company claiming it posted strong Q1 FY24 results.

Markets Ahead

Major indices are currently trading near resistance zones, but good support was taken from important levels in both Nifty and Bank Nifty. The indices are still in a downtrend over the past 4 weeks. And if there’s a gap down or down move after a flat opening tomorrow, the indices can turn bearish again. If there’s a gap up above the resistance zone or a flat opening with upside movement, we can expect the indices to turn bullish. 

Nifty: The index is at the top of the down-trending channel. The important resistance to watch out for is clearly 19,420 levels, and the important support zone is 19,300 and 19,350 levels (which is also the previous swing). A breakout on the upside will clear the down-trending channel resistance and horizontal resistance to give an up-move till 19,500-520 levels.

Bank Nifty: The index is currently trading within a range, consistently encountering resistance around the 44,100 mark and finding support near the 43,750 level. A potential upward breakout could lead to targets of 44,300 and even 44,500, while a breakdown may set targets at 43,400.

Fin Nifty: Being Fin Nifty expiry tomorrow, it’s crucial to monitor key levels. The significant support level to observe is today’s low of 19,500. On the other hand, the imp resistance point is at 19,620, where the index has faced repeated rejections. A successful breakout above this could lead to targets of 19,700 and 19,770. On the other hand, if there’s a breakdown, targets could be at 19,440 and 19,340 levels.

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

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Bearish Weekly Closing in Nifty! Big Move Incoming? – Post-Market Analysis

NIFTY started the day at 19,301 with a gap-down of 63 points. The index tried moving up initially, but it took rejection from yesterday’s low of 19,330 levels and fell to 19,250 levels. Then, it mostly consolidated in a 50-point range. Post 1:30 PM, good buying kicked in, which took the index all the way up to 19,375 levels. However, the index couldn’t sustain the up-move and fell back below 19,300 zones. Nifty closed at 19,310, down by 55 points or 0.28% 

Nifty chart August 18 - post-market analysis

BANK NIFTY (BNF) started the day at 43,724 with a gap-down of 166 points. The index mostly consolidated throughout the day between 43,770 and 43,960 levels with a negative bias. BNF closed at 43,851, down by 40 points or 0.09%. 

Bank Nifty chart August 18 - post-market analysis

All indices except Nifty Media (+0.65%), Nifty PSU Bank (+0.23%), Nifty FMCG (+0.22%), and Nifty Metal (+0.2%) closed in the red. Nifty IT (-1.47%) fell the most.

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

Today’s Moves

Adani Ent (+3.94%) was NIFTY50’s top gainer. Adani Ports (+%), Adani Green (+6.5%), Adani Power (+6.3%), and Adani Trans (+6.04%) rose sharply today.

Adani Group stocks were in focus after reports suggested that the Abu Dhabi National Energy Company PJSC (TAQA) is planning an investment of up to $2.5 billion in the group’s power business. However, both parties have denied all reports.

Vardhman Textiles (+7.9%) surged on the back of strong volumes.

Hero MotoCorp (-2.14%) was NIFTY50’s top loser.

TCS (-2%), Mphasis (-2.09%), INFY (-1.6%), TechM (-1.7%), Wipro (-1.4%), and other IT stocks fell today.

Manappuram Finance (-3.89%) fell the most in over three months after a block trade.

Markets Ahead

Markets are holding the major support levels but are clearly bearish and facing selling pressure in every uptick. On a weekly time frame, both indices have closed in the red for the 4th consecutive week.

If there’s a negative opening on Monday, we can expect the bearishness to continue!

Nifty: The index closed just above 19,300 zones but is still under heavy selling pressure. The immediate supports to watch out for are 19,300 and 19,250 levels (the lows from today and Wednesday). The immediate resistance will be 19,400 levels.

On a daily time frame, Nifty is moving in a down-trending channel. If there’s a gap-up opening, the markets could take a pause and be volatile. On the other hand, a weak opening can trigger a fall to 19,200 and 18,900 levels.

Bank Nifty: The index is still in our volatile zone between 44,500 and 43,400. Bank Nifty can continue to be volatile and hit stop losses on both sides as long as it trades in this range. The immediate resistance now will be 44,100 and immediate support will be 43,650 levels.

Do wait for the volatile range to be broken to get better clarity on the upcoming trend.

Meanwhile, Jio Financial Services will list on NSE and BSE on Aug 21. Reliance moved up with strength following the news today.

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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Selling Continues! Reliance, ITC Drag Nifty – Post-Market Analysis

Post-Market Analysis for Aug 17, 2023:

NIFTY started the day at 19,450 with a small gap-down of 14 points. From opening itself, the index was under selling pressure, and it fell steadily to 19,320 levels— a fall of nearly 120 points. Then, it gave a small retracement and closed at 19,365, down by 99 points or 0.51% 

Nifty chart Aug 17 - post-market analysis

BANK NIFTY (BNF) started the day at 43,897 with a gap-down of 49 points. While Nifty was weaker, Bank Nifty went sideways and moved between 43,750 and 44,050 levels. BNF closed at 43,891, down by 55 points or 0.13%. 

Bank Nifty chart Aug 17 - post-market analysis

All indices except Nifty PSU Bank (+1.4%) and Nifty Realty (+0.12%) closed in the red. Nifty FMCG (-0.89%) fell the most.

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

Today’s Moves

Adani Ports (+4.32%) was NIFTY50’s top gainer on the back of strong volumes.

Apar Industries (+9.8%) surged after the company’s management gave a positive outlook on its business.

Cochin Shipyard (+9.4%) continued its strong rally after posting robust Q1 FY24 results. The stock has zoomed 40% in three trading sessions.

ITC (-2.05%) was NIFTY50’s top loser. The company’s board approved the demerger of its hotels business yesterday. Meanwhile, analysts said that the next-term outlook for ITC remained strong.

Heavyweight stock Reliance (-1.4%) also dragged down the markets.

IRFC (-7.02%) fell sharply after reports stated that the Indian government was planning to sell its stake in the company.

Markets Ahead

Both indices gave mixed signals today: Nifty was weak, while Bank Nifty was holding strong. If we look broadly, we can say that the indices are mostly consolidating within a range.

Nifty The index is stuck in a range between 19,300 and 19,500— and these levels could act as strong support and resistance levels, respectively. But the immediate resistance to watch out for is 19,420. If the support level is breached, Nifty can give us targets of 19,200 and 18,900 eventually. Meanwhile, the upside target of 19,630 can be attained if the market crosses 19,500.

Bank Nifty: The index is still in our volatile zone between 44,500 and 43,400. Bank Nifty can continue to be volatile and hit stop losses on both sides as long as it trades in this range. So wait for this range to be broken.

The day was fairly easy for both option buyers and sellers!

As per reports, there are two negative factors weighing on global stock markets now: (1) US Federal Reserve’s minutes indicate that one more rate hike may be needed in this rate-hiking cycle to curb inflation. (2) Chinese macro data indicate that the economy is slowing more-than-expected earlier, and this will impact global economic growth.

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

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Key Indices Mimic Previous Movements Ahead of Expiry Day! – Post-Market Analysis

NIFTY started the day at 19,369 with a gap-down of 65 points. The index started moving up after the initial red candles and tried to break the previous day’s high with the help of a 3 PM move. Even though there were no follow-up candles, the index closed in slight green. Nifty closed at 19,465, up by 30 points or 0.16% 

Nifty chart - Aug 16 - post-market analysis

BANK NIFTY (BNF) started the day at 43,726 with a gap-down of 364 points. The index struggled a lot to recover as it faced strong rejection from the 44k zone. BNF closed at 43,946, down by 144 points or 0.33%. 

Bank Nifty chart - Aug 16 - post-market analysis

All other indices except Nifty Metal (-0.94%) closed in green. Nifty Media (+1.2%) and Nifty Realty (+1.1%) moved up the most. 

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

Today’s Moves

Apollo Hospitals (+2.51%) was NIFTY50’s top gainer. The pharma company’s MD gave forward-looking commentary on its business on Monday.

Cochin Shipyard (+17.4%) hit a new 52-week high of ₹822 after posting strong Q1 results.

JBM Auto (+10.13%) jumped after the Union Cabinet approved ‘PM-eBus Sewa’ for boosting city bus operations.

Tata Steel (-1.86%) was NIFTY50’s top loser.

Hindustan Copper (-6.23%) fell sharply after the company posted weak numbers for Q1 FY24.

Markets Ahead

Key indices replicate Monday’s movements! After the opening red candle, both Nifty and Bank Nifty started moving up, similar to Monday.

Try to draw a trendline connecting tomorrow’s first two swing low points, and if this trendline is broken, it might bring a proper movement (if the initial trend is to the upside). You can also use a 200 exponential moving average (EMA) in the 5 mins chart to get more clarity.

Major weakness is being built up as both Nifty and Bank Nifty create lower lows and lower highs for more than a week.

I will be watching Nifty’s 19,500 (resistance), 19,360, 330, 300 (immediate support) and 19,250 (major support) tomorrow.

In Bank Nifty, let’s mark 44,100,44,200 (resistances) and 44,600 and 44,540 as major levels for expiry day.

Inflation (CPI) numbers have been a supporting factor for the Indian market for many months. Now, recently released above-expected inflation numbers are bringing more weakness to our market

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

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Supports Respected! Nifty Closes Above 19,400 – Post-Market Analysis

NIFTY started the day at 19,383 with a gap-down of 44 points. Within just 10min of opening, the index fell nearly 130 points to 19,260— breaching the support zones of 19,300. After the fake breakdown, Nifty moved up sharply by nearly 200 points throughout the day to 19,460 levels. Nifty closed at 19,434, up by 6.25 points or 0.03% 

Nifty chart Aug 14 - post-market analysis

BANK NIFTY (BNF) started the day at 44,066 with a small gap-down of 132 points. In the first 10min, the index fell over 300 points to 43,770 levels. It then slowly moved up to 44,200 levels— a rally of more than 430 points from the day’s low. BNF closed at 44,090, down by 108 points or 0.24%. 

Bank Nifty chart Aug 14 - post-market analysis

All other indices except Nifty Media (+0.8%), Nifty IT (+0.68%), and Nifty FMCG (+0.49%) closed in the red. Nifty Metal (-2.1%) fell the most. 

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

Today’s Moves

LTIMindtree (+1.68%) was NIFTY50’s top gainer on the back of strong volumes.

Olectra Greentech (+9.59%) broke its 5-day losing streak, surging up to 10% today.

Mazagon Dock Shipbuilders (+7.6%) jumped after the company’s Chairman Sanjeev Singhal said he anticipates a strong FY25 with major order deliveries.

Adani Ent (-3.29%) was NIFTY50’s top loser. Other Adani Group stocks also fell sharply after Deloitte Haskins & Sells resigned as the statutory auditor of Adani Ports.

Nykaa (-8.14%) crashed after several brokerage firms highlighted challenges in the company’s growth in their post-earnings stock reviews. 

Markets Ahead

As mentioned earlier, the markets were weak, and a flat or gap-down opening could take the indices further down. And that’s what happened today. After the gap-down, Nifty went on to hit our target of 19,300, and Bank Nifty was in our volatile zone.

Nifty: There is strong buying from 19,300 levels, but the markets can still be bearish until the 19,500 resistance is breached. In that case, the index may turn bullish and go on to hit targets of 19,630. If today’s swing of 19,350 is breached, the index will test 19,300 again, and if that’s broken, Nifty can fall to bigger targets of 19,200 and 18,900 in the coming weeks.

Bank Nifty: The index is looking weaker than Nifty, and is still in our volatile zone between 44,500 and 43,400. Bank Nifty can continue to be volatile and hit stop losses on both sides, so wait for this range to be broken.

Finnifty: The index moved in a similar pattern as Bank Nifty today. Being expiry today, it was relatively easy for non-directional option sellers as the IV (which spiked initially) was cooling off gradually.

Meanwhile, India’s retail inflation surged 7.44% on an annual basis in July, compared to 4.81% in June. The sharp rise can be attributed to a steeper-than-expected increase in vegetable prices (especially tomatoes) over the past month.

How did FIN NIFTY expiry trading go? Let us know in the comments section of the marketfeed app.

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The markets will remain closed tomorrow on account of Independence Day. marketfeed wishes all our readers a very Happy Independence Day!

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Bearishness to Continue? – Post-Market Analysis

Post-market analysis for Aug 11, 2023:

NIFTY started the day at 19,554 with a gap-up of 11 points. The index made a nearly 70-point red candle at opening (crossing yesterday’s low and the round level support of 19,500) and made lower lows to hit 19,440 levels. At 1 PM, the index made a sharp rebound of 40 points in a single candle but couldn’t sustain it as the selling pressure kicked in. Then, the index continued the fall to breach the day’s low. Nifty closed at 19,428, down by 114 points or 0.59% 

Nifty chart Aug 11 - post-market analysis

BANK NIFTY (BNF) started the day at 44,568 with a small gap-up of 26 points. Bank Nifty fell 250 points in the first 5min itself (breaching the important support zone of 44,500) and fell to 44,270 levels. The index then consolidated within a 150-point range with volatility and broke down from the consolidation at 3 PM. BNF closed at 44,199, down by 342 points or 0.77%. 

Bank Nifty chart Aug 11 - post-market analysis

All indices except Nifty PSU Bank (+1.25%) closed in red. Nifty Media (-1.8%) fell the most. 

Major Asian markets closed mixed (the Chinese market fell 2%). European markets are currently trading in the red.

Today’s Moves

HCL Tech (+3.2%) was NIFTY50’s top gainer. The IT major announced a global strategic partnership with Verizon for managed network services.

Indian Overseas Bank (+13.36%) rallied after CARE Ratings assigned a fresh rating of CARE A1+ to the bank’s proposed certificate of deposits of ₹10,000 crore.

Kalyan Jewellers (+11.5%) jumped after HSBC raised its target price for the jewellery stock after the company posted its Q1 earnings.

IndusInd Bank (-2.3%) was NIFTY50’s top loser.

Apollo Tyres (-8.2%) crashed after the company reported lower-than-expected revenue growth in Q1.

Alkem Labs (-7.7%) fell sharply after the company reduced its India business revenue growth forecast to “high single-digit” from low double digits for FY24. BofA sees a downside of 15% to ₹3,500 for the stock.

Markets Ahead


The Indian markets are still looking very weak.

Nifty: The index has closed near the support zone of 19,420. So if there’s a flat or gap down opening on Monday, the index can further fall to 19,360 and 19,300 eventually. The important resistance level to watch out for is 19,500.

Nifty has filled the gap created near 19,420 levels and has taken support. So the index might move back up from here or take a pause. If the fall continues, then the levels mentioned above could be achieved.

Bank Nifty: The immediate support for the index can be 44,200 levels, and the major resistance will be 44,500 levels. But Bank Nifty is in a volatile zone between 44,500 and 43,400. So as long as the index is in this zone, there can be movements happening on both sides.

Monday’s opening will be crucial. If there’s a flat opening and selling continues or if it’s a gap-down opening, both indices may continue to fall.

The inflation rate in the US climbed 3.2% YoY in July, as compared to analyst expectations of 3.3%. This data is the key metric the US Federal Reserve will consider in deciding whether to continue raising interest rates. On the other hand, India’s industrial production fell to 3.7% in June 2023, compared to 5.3% in May 2022 and 12.6% in June 2022.

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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Volatile Expiry as RBI Keeps Repo Rate Unchanged at 6.5%! – Post-Market Analysis

Post-Market Analysis for August 10, 2023:

NIFTY started the day at 19,605 with a gap-down of 27 points. The index initially consolidated till 10 AM. Soon after RBI made its monetary policy announcements, the markets fell sharply from 19,620 zones to 19,500 levels, took support, and then gave a sharp recovery of 100 points to 19,600 zones. Then, it again fell to the day’s low of 19,500 and eventually consolidated near 19,550. Nifty closed at 19,543, down by 89 points or 0.46% 

Nifty chart Aug 10 - post-market analysis

BANK NIFTY (BNF) started the day at 44,797 with a gap-down of 83 points. Initially, the index moved up to 45,000 levels. After 10 AM, it fell sharply by nearly 500 points in 20 mins to 44,500 zones and took support there. Then, Bank Nifty tried to make a recovery but did not have enough strength, and it mostly consolidated for the rest of the day to close at 44,541, down by 338 points or 0.76%. 

Bank Nifty chart Aug 10 - post-market analysis

All indices except Nifty Media (+6.6%) and Nifty Metal (+0.68%) closed in the red. Nifty FMCG (-0.91%) fell the most.

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

Today’s Moves

Adani Enterprises (+1.8%) was NIFTY50’s top gainer. 

ZEEL (+16.5%) surged and hit a 52-week high of ₹290.70 after the National Company Law Tribunal (NCLT) approved its proposed merger with Sony India.

Jubilant Pharma (+11.3%) rallied on the back of strong volumes.

Asian Paints (-2.79%) was NIFTY50’s top loser. One of the company’s employees was booked for stealing confidential info, causing ₹6 crore loss to the firm.

RattanIndia Enterprises (-7.85%) fell sharply after the company posted its Q1 results today.

Markets Ahead

Nifty and Bank Nifty were extremely volatile on expiry day, and there’s still selling pressure that can be seen in both indices.

Nifty: The important round level support now in Nifty would be 19,500 and the major resistance to look out for is 19,600 levels. A breakout from 19,600 can give us targets of 19,690 and 19,720 (gap-filling levels) and a breakdown from 19,500 could give us targets of 19,420 and 19,390.

Bank Nifty: The index is currently at the support zone of 44,400-500. The immediate resistance will be 44,700 levels. A breakdown of the support levels can give us targets of 44,280 and 44,000. A breakout can give us targets of 45,000 and 45,150 levels.

Meanwhile, the Reserve Bank of India (RBI) has retained the key policy repo rate at 6.5%. It has also maintained the gross domestic product (GDP) growth projection for FY24 at 6.5%. 

According to an Economic Times report, the RBI’s decision to enforce an additional Cash Reserve Ratio (CRR) of 10% of Net Demand and Time Liabilities (NDTL) on banks severely impacted market sentiment today.

Now, all eyes will be on US inflation figures. This data holds significant importance for the global market as it seeks insights into the potential direction of the US Fed’s policy.

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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Volatility Ahead of Interest Rate Decision! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,578. Initially, the index broke yesterday’s low of 19,520 levels and fell sharply to 19,470. It then consolidated near those levels till 1 PM. In the second half, the index started moving back up and gave an insane rally of nearly 180 points (aided by Reliance and ITC). Nifty closed at 19,632, up by 61 points or 0.32% 

Nifty chart Aug 9 - post-market analysis

BANK NIFTY (BNF) started the day flat at 44,973. Similar to Nifty, BNF also continued the down-trend, fell by nearly 400 points to 44,530 levels, and consolidated. In the second half, good buying kicked in, and the index shot back up 400 points. However, it couldn’t cross the day’s high. BNF closed at 44,880, down by 83 points or 0.19%. 

Bank Nifty chart Aug 9 - post-market analysis

Nifty Realty (-1.24%) and Nifty PSU Bank (-0.1%) also closed in the red. Nifty Media and Nifty Metal jumped >2%!

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

Today’s Moves

Dr Reddy’s Labs (+3.7%) was NIFTY50’s top gainer. The stock hit a record high of ₹5,883.75 today. As per reports, market participants are looking for opportunities created by potential shortages caused by damages at Pfizer’s injectable plant in the US.

RattanIndia Enterprises (+19.93%) surged on the back of strong volumes. The stock has jumped nearly 36% over the past month.

V-Guard Industries (+10.3%) rallied after the company posted robust financial results for Q1 FY24. Its revenue from operations rose 19.3% YoY to ₹1,214.76 crore in Q1, while net profit stood at ₹64.22 crore, up 20% YoY.

Divi’s Labs (-2.8%) was NIFTY50’s top loser.

Hikal (-4.05%) fell after the pharma company said it has moved back to profitability in Q1.

EPL (-4.2%) fell up to 5% after reports said analysts are worried about the pace of the packaging company’s revenue growth.

Markets Ahead

Ahead of RBI’s interest rate decision and weekly expiry for NIFTY and BANK NIFTY tomorrow, the indices made huge intraday moves today. Strong buying was seen at lower levels. So we can expect more volatility and news-based movement tomorrow as well.

Nifty: The immediate support levels to watch out for in Nifty will be 19,600 and 19,560. The important resistance zones will be 19,680 and a gap-filling zone of 19,720. A breakdown from 19,600 levels will push the market down further. And for the up-move to sustain, the index has to come down to 19,600 levels, take support, and move up to the targets of 19,680 and 19,720.

Bank Nifty: Now, the important resistance in Bank Nifty is the round level of 45,000-100, and the important support will be 44,500-600 levels. The index can be volatile between these levels. If the index gives a breakout from 45,100, we can expect a target of 45,400 and 45,600 eventually. A breakdown from 44,500 can give us targets of 44,300 and 43,900.

Reduce your positions or follow a proper system tomorrow, as the markets are volatile!

We have U.S. inflation data coming out tomorrow. On the other hand, China slipped into deflation for the first time in more than two years in July as the country struggled to revive demand.

What levels are you 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

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NIFTY started the day at 19,627 with a gap-up of 29 points (near the resistance zone of 19,600). Immediately after opening, there was a sell-off of nearly 100 points to 19,530 levels. Then, the index tried moving up but there wasn’t enough strength, and it consolidated. Nifty closed at 19,570, down by 26 points or 0.13%. 

Nifty chart - Aug 8 post-market analysis

BANK NIFTY (BNF) started the day at 44,888 with a small gap-up of 51 points. With the help of ICICI Bank, the index moved up initially to 45,100 levels, took resistance, and mostly consolidated in a small range of 120 points between 45,050 and 44,900. BNF closed at 44,964, up by 126 points or 0.28%. 

Bank Nifty chart - Aug 8 post-market analysis

All other indices except Nifty Metal (-1.1%), Nifty Auto (-0.31%), Nifty FMCG (-0.28%), and Nifty Realty (-0.18%) closed in green. Nifty PSU Bank (+3.3%) moved up the most. 

Major Asian markets closed mixed. European markets are currently trading up to 1% in the red.

Today’s Moves

Hero MotoCorp (+3.8%) was NIFTY50’s top gainer. The company reported that it has received over 25,000 bookings for the Harley-Davidson X440.

SBI Life (+3.59%), Cipla (+3.5%), and Dr Reddy’s Labs (+0.48%) hit their respective 52-week highs today.

Gland Pharma (+20%-UC) rallied after posting a 41% YoY rise in Q1 revenue yesterday, aided by its acquisition of French pharma group Cenexi.

Adani Ent (-2.98%) was NIFTY50’s top loser amid broader weakness in the market.

Policybazaar (-4.7%) fell after the company’s loss narrowed from ₹204 crore in Q1 FY23 to ₹11.9 crore in Q1 FY24.

Markets Ahead

Nifty is looking weak, while Bank Nifty is looking strong. But overall, the markets are still under selling pressure for the short term. So major resistances have to be breached for markets to turn bullish again.

Nifty: The index is now taking the 50% rejection from the Fib levels. So 19,650 is the major resistance for Nifty. There is also a trendline resistance that Nifty is respecting. So till this level, the markets may stay bearish. Now, the major support for Nifty is clearly the round levels of 19,500 levels.

A breakout from 19,650 levels can give us a target of 19,740 and a breakdown from 19,500 can give us a target of 19,380.

Bank Nifty: The index is looking strong compared to Nifty, and is in a range between 45,100 and 44,780. A breakdown from these levels can give us targets of 44,500 and 44,300. A breakout can give us targets of 45,470 and 45,740 eventually.

Finnifty: The index moved sideways today, and was volatile in a range of 120 points. Being an expiry, it was easy for non-directional players to trade as Fin Nifty is also moving in a range. A breakout or a breakdown is possible, so watch out for 20,100 as resistance and 20,000 as support levels.

The Reserve Bank of India (RBI) will hold its policy meeting on Thursday, where the expectation is for interest rates to remain unchanged. Meanwhile, the US dollar strengthened ahead of the release of US, Chinese economic data.

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

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Pharma, IT Stocks Lift Nifty – Post-Market Analysis

NIFTY started the day at 19,576 with a gap-up of 59 points (above the important resistance level of 19,500). The index initially fell and took support at 19,524 levels. Then, it made a 60-point up-move, fell back to the 19,530 zone, consolidated for a bit, and made a sharp move till 19,620 (the day’s high). Nifty closed at 19,597, up by 80 points or 0.41%. 

BANK NIFTY (BNF) started the day at 44,993 with a gap-up of 114 points (above the resistance level of 44,750). The index fell to 44,770 levels, consolidated with a positive bias, and gradually hit the strong resistance zone at 45,000. From there, it fell sharply by nearly 215 points. BNF closed at 44,837, down by 42 points or 0.09%. 

All indices except Nifty PSU Bank (-0.6%) closed flat-to-green. Nifty Pharma (+1.56%) and Nifty IT (+1.13%) moved up the most. 

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

Today’s Moves

Divi’s Lab (+4.41%) was NIFTY50’s top gainer.

M&M (+4.25%) moved up after the company’s Q1 results beat analysts’ estimates. Most brokerage firms have reiterated their bullish view on the stock.’

Polymed (+14.47%) rallied on the back of strong volumes.

Britannia (-2.89%) was NIFTY50’s top loser. The company reported Q1 FY24 earnings below street estimates, partly due to higher expenses. 

Aditya Birla Fashion (-4.9%) fell nearly 7% after the apparel company’s margins fell 640 basis points year-on-year to 11% in Q1.

Markets Ahead

Bank Nifty is forming a perfect consolidation! After the bounce back from 44,275 support, the index is currently facing huge resistance from 45k. BNF is not showing any upside strength, but there are chances for the index to make a visit to 44,600.

HDFC Bank (1648) and ICICI Bank (974) don’t look strong, and they are near their immediate support levels.

IT and Pharma stocks are helping Nifty to stay above 19,400! Keep an eye on the 19,560-570 zone for intraday trades.

FIIs net sold for ₹1,892.77 crore in the Indian markets today, while DIIs net bought for ₹1,080.8 crore.

It’s an action-packed week as the US will report its inflation numbers. Moreover, the Reserve Bank of India will announce its monetary policy decision. 

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

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Bearish Weekly Closing in Nifty – Post-Market Analysis

Post-Market Analysis for August 4, 2023:

NIFTY started the day at 19,462 with a gap-up of 81 points. Throughout the day, the index was trading between or stuck between yesterday’s high and today’s opening levels of 19,500 and 19,440, respectively. Nifty closed at 19,517, up by 135 points or 0.7%. 

Nifty chart - Aug 3 post-market analysis

BANK NIFTY (BNF) started the day at 44,754 with a gap-up of 241 points. Initially, the index fell to yesterday’s closing price and support zone of 44,500 levels. Then, it gave a strong up-move till 45,100, fell 500 points back to 44,600 zones, and then took resistance back at 44,900-45,000 levels. BNF closed at 44,879, up by 366 points or 0.82%. 

Bank Nifty - Aug 4 post-market analysis

All indices except Nifty PSU Bank (-0.7%) and Nifty Auto (-0.33%) closed flat-to-green. Nifty IT (+1.5%) moved up the most.

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

Today’s Moves

Cipla (+3.7%) was NIFTY50’s top gainer. World’s largest private equity fund, Blackstone, is set to submit a non-binding bid to acquire the entire 33.47% promoter stake in Cipla.

Zomato (+10.07%) surged after posting its first-ever profit of ₹2 crore in Q1.

IT stocks Coforge (+2.58%), Wipro (+2.3%), TechM (+2.84%), LTIM (+1.46%), TCS (+1.28%) and others moved up with strength.

SBIN (-2.9%) was NIFTY50’s top loser. The bank’s net profit jumped 178% YoY to ₹16,884 crore; beating street estimates.

JM Financial (-7.12%) fell heavily after its Q1 number disappointed investors.

Mahanagar Gas (-5.75%) shares fell even as profit nearly doubled in Q1.

Markets Ahead

Markets are at important long-term support zones: 19,300 for Nifty and 44,200-500 zones in Bank Nifty. If there’s global positivity and a breakout on the upside, we can expect the markets to move further up!

Nifty: The important support zone for Nifty is clearly 19,300 (but the immediate support can be 19,400). The next resistance level to watch out for is 19,500 zones. A breakout from 19,520 levels can give us targets of 19,600 and 19,730 levels in the coming week. A breakdown can give us targets of 19,300 and then eventually 18,900 in the coming weeks.

Bank Nifty: The major support in Bank Nifty is a larger zone between 44,200-500. The important resistance will be 45,000. A breakdown from the support zone can give us a target of 43,000. A breakout on the upper side can give us targets of 45,300 and 45,750 in the coming week.

Markets had a bearish week. But if there’s a follow-up, it can turn into major bearishness for a few months. If support is taken at the levels mentioned above, the markets can bounce back!

Meanwhile, reports say the U.S. jobs report on Friday will help the Federal Reserve understand how its changes in monetary policy are affecting things. It could also tell the Fed if the U.S. economy is slowing down enough to skip another increase in interest rates.

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 into The Stock Market Show at 7 PM on our YouTube channel!