Category: Post Market Analysis

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Panic Selling in the Markets. Pharma Stocks Surge! – Post-Market Analysis

NIFTY started the day at 19,463 with a gap-down of 62 points. Initially, the index tried moving up, but the earlier support of 19,500 now turned into resistance. After forming a double top near the 19,500 zone, the index crashed without a retracement till 19,300 and then gave a sharp recovery of 100 points like yesterday to 19,400 levels. Nifty closed at 19,381, down by 144 points or 0.74%. 

BANK NIFTY (BNF) started the day at 44,862 with a gap-down of 132 points. Initially, the index tried moving above 45,000, but that level acted as a strong resistance. Similar to Nifty, Bank Nifty also fell nearly 750 points to the low of 44,300 levels (which is also a support zone). Then, there was a small retracement to 44,600. BNF closed at 44,513, down by 482 points or 1.07%. 

All indices except Nifty Pharma (+1.04%) and Nifty Media (+0.91%) closed in red. Nifty Realty (-1.78%) fell the most. 

Major Asian markets closed mixed (Japan’s Nikkei fell 1.6%). European markets are currently trading in the red.

Today’s Moves

Adani Ent (+2.39%) was NIFTY50’s top gainer. The company posted a 44% YoY increase in net profit to ₹674 crore, while revenue fell 38% YoY to ₹25,438 crore.

IRFC (+12.6%) hit a 52-week high of ₹45.3 today. IRFC and RITES signed an agreement to explore avenues of mutual collaboration in the railway ecosystem and transport infrastructure sector. Read more reasons for the stock’s recent rally here.

Pharma stocks Mankind Pharma (+9.1%), Laurus Labs (+5.4%), Lupin (+4.1%), Gland Pharma (+3.1%), and others showed strong grains in a weak market.

UPL (-3.02%) was NIFTY50’s top loser. The stock hit over a 2-year low on weak June quarter results.

Vedanta (-6.65%) fell up to 9% after a block deal took place on the exchanges wherein ~16.5 crore shares of the company worth ₹4,270 crore changed hands.

Godrej Properties (-5.2%) fell after the company said its pre-sales declined by 11% YoY to ₹2,250 crore as delayed launches adversely affected bookings. 

Markets Ahead

As said in yesterday’s post-market report, the target of 19,300 in Nifty was achieved today. But 44,150 in Bank Nifty is yet to be achieved.

Markets are clearly under selling pressure without any retracement. So tomorrow, we can expect a range-bound movement if the market opens with a big gap up or gap down. If the market opens flat and breaches today’s low, more bearishness can kick in.

Nifty: The important support for Nifty is now clearly 19,300. If that level is breached, the index can fall to 19,200 levels. The important resistance to watch out for is the 19,400-420 region, and 19,500 can be achieved if this resistance is crossed.

Bank Nifty: The important support for Bank Nifty is at 44,500 and the important resistance will be 44,750. A breakdown from 44,500 can give us a target of 44,150 and a breakout from 44,750 can give us targets of 45,000-200.

The markets are still under selling pressure. So even if there’s an up-move, it can be just a pullback, and the markets can continue to fall in the coming days.

If one played safely on today’s expiry day, it could’ve been an easy day for non-directional option sellers as well. Option buyers might have found it difficult to capture the trade as there was no retracement given for an entry.

Meanwhile, India’s services activity recorded the fastest growth rate in 13 years on strong demand. S&P Global’s India Services Purchasing Managers’ Index rose from 58.5 in June to 62.3 in July.

How did your expiry go? 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!

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Bearishness Continues. What to Expect on Weekly Expiry? – Post-Market Analysis

NIFTY started the day at 19,655 with a gap-down of 78 points (below the important support zone of 19,700). It was a straight fall of 250 points from the day’s high to the low of 19,424 levels! In between, the index tried to consolidate near 19,500 zones, but couldn’t sustain it. Post 2:30 PM, the index recovered over 100 points from 19,420 levels. Nifty closed at 19,526, down by 207 points or 1.05%. 

Nifty chart weekly expiry - Aug 2

BANK NIFTY (BNF) started the day at 45,234 with a gap-down of 357 points (near the support zones of 45,300). The index fell below important supports to 44,700 levels. After falling more than 650 points, BNF retraced a bit and closed at 44,995, down by 596 points or 1.31%. 

Bank Nifty chart weekly expiry - Aug 2

All indices closed in red today. Nifty PSU Bank (-2.6%) and Nifty Metal (-2%) fell the most. 

Major Asian markets closed up to 2.4% in the red. European markets are currently trading in the red.

Today’s Moves

Divi’s Labs (+1.4%) was NIFTY50’s top gainer on the back of strong volumes.

Indiabulls Housing Finance rose 5.37% today. Last week, the company’s board approved raising up to ₹35,000 crore via the issue of debt securities. It has also approved a final dividend of ₹1.25 per share for FY23.

Hero MotoCorp (-3.5%) was NIFTY50’s top loser. The two-wheeler manufacturer’s total sales declined by 12% YoY to 3.91 lakh units in July.

PSU banking stocks Canara Bank (-3.9%), Bank of Baroda (-3.1%), PSB (-3.1%), SBIN (-2.19%), IOB (-2.9%), and others moved down with strength today.

Redington India (-10.37%) fell sharply amid weak Q1 FY24 results.

Markets Ahead

Markets are clearly bearish now. Being a weekly expiry tomorrow, markets can be volatile and might continue the downtrend. 

Nifty: Now, the important support level to watch out for is today’s low of 19,400. The important resistance to watch out for is the 19,570 zone. A breakout on the upside will create some volatility, and the index might move sideways. But if there’s a breakdown and the market falls below 19,400, we can expect a target of 19,300.

Bank Nifty: The index is between the support zone of 44,500 and 45,300 resistance. In this zone, BNF can act sideways and become volatile. If there’s a breakdown from 44,500 round levels, we can expect a target of 44,150. A breakout on the upside can give us a target of 45,750.

Both indices might be volatile within a range for tomorrow’s expiry. So watch out for the levels mentioned above, and plan your trades accordingly!

Meanwhile, global stock markets have fallen after Fitch Ratings downgraded the US sovereign credit from AAA to AA+, citing “a steady deterioration in standards of governance” and the US government’s growing debt burden.

FIIs net sold for ₹1,877.84 crore in the Indian markets, while DIIs net sold for ₹2.23 crore.

What levels are you watching out for weekly expiry tomorrow? 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!

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Nifty Closes Below 19,750. IT Stocks Gain – Post-Market Analysis

NIFTY started the day at 19,784 with a small gap-up of 30 points. Initially, the index moved up to the round levels of 19,800, took rejection, and fell to breach the important support zone of 19,750. Then, it went down to 19,700 levels and strong buying kicked in. The index mostly consolidated within the 19,700 and 19,800 zones today. Nifty closed at 19,733, down by 20 points or 0.1%. 

BANK NIFTY (BNF) started the day at 45,740 with a gap-up of 88 points. After initial consolidation, the index faced selling pressure. BNF fell below the 45,600 support zone and came down to 45,470 zones (which was the previous day’s swing). It then bounced back, but 45,600 acted as resistance. BNF closed at 45,592, down by 58 points or 0.13%. 

All indices except Nifty IT (+1.2%), Nifty Metal (+0.18%), and Nifty Pharma (+0.06%) closed in the red. Nifty Realty (-1.7%) fell the most. 

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

Today’s Moves

Coal India (+4.8%) was NIFTY50’s top gainer. The company posted a 13.4% YoY growth in coal production at 53.6 million tonnes (MT) in July.

NCLAT has listed IDBI’s (+8.6%) appeal against ZEEL for a hearing tomorrow.

TechM (+2.5%), LTTS (+3.18%), HCL Tech (+1.95%), TCS (+0.9%), and other IT stocks showed strong gains.

PowerGrid (-5.3%) was NIFTY50’s top loser. The company posted disappointing Q1 results and announced a 1:3 bonus issue.

Kei Industries (-6.5%) crashed to 8% after reporting a 17% YoY rise in net profit to ₹121.4 crore in Q1.

DLF (-3.3%) fell after promoters sold stake worth ₹1,086 crore in the real estate company.

Hero MotoCorp (-3.1%) fell sharply after the Enforcement Directorate conducted raids at the residence of the company’s chairman Pawan Munjal.

Markets Ahead

After the buying seen yesterday, our markets seem stuck in a range. A breakout or breakdown from these levels can give us good moves.

Nifty: The index is currently facing rejection from 19,750 levels, which could act as the first resistance. If that level is crossed, we can expect the index to move to 19,840 levels. If the index falls below 19,750, a round level target of 19,700 could act as strong support. And if 19,700 is breached, we can expect Nifty to fall to 19,600 as well.

Bank Nifty: BNF is looking weaker than Nifty. 45,600 is acting as a strong resistance. If the index stays below this level, we can expect targets of 45,470 (today’s low) and 45,300. If there’s a breakout on the upside, we can expect a target of 45,800 and the round levels of 46,000 eventually.

Nifty Finserv moved in a range today. So it was an easy expiry for non-directional option sellers.

Meanwhile, the S&P Global Purchasing Managers’ Index (PMI) fell marginally to 57.7 in July from 57.8 in June. The rates of output and new order expansion remained slightly lower than in June. However, companies continued to grow their workforce and purchasing activities in response to these developments.

How was FIN NIFTY expiry? 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!

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Technicals Indicate Market-Wide Consolidation. SBI to Breakout This Week? – Post-Market Analysis

Post-Market Analysis for July 31, 2023:

NIFTY started the day at 19,666 with a small gap-up of 20 points. The index formed a 75-point red candle at opening (5-min time frame) and took support at 19,597 levels. From there, Nifty gradually moved up to 19,700 zone, consolidated for over 3 ½ hours, and made a sharp up-move at 3 PM to 19,770 levels. Nifty closed at 19,753, up by 107 points or 0.55%.

Nifty chart - July 31, 2023

BANK NIFTY (BNF) started the day at 45,546 with a gap-up of 78 points. The index formed a 190-point red candle at opening and took support at 45,360. Then, it slowly moved up, consolidated between 45,450 and 45,580 levels for nearly 3 ½ hours, and broke out of the consolidation to hit the day’s high at 45,695. BNF closed at 45,651, up by 183 points or 0.4%. 

Bank Nifty chart - July 31, 2023

All indices except Nifty FMCG (-0.6%) closed in the green. Nifty Metal (+1.7%) moved up the most. 

Major Asian markets closed up to 1.3% in the green. European markets are currently trading flat-to-green.

Today’s Moves

NTPC (+3.9%) was NIFTY50’s top gainer. The company’s net profit fell 6% YoY to ₹4,871 crore in Q1 FY24, with revenue up 19%. 

BLS International (+14.2%) surged on the back of strong volumes.

Natural gas distributor GAIL (+1.36%) rose to a near five-year high after UBS double-upgraded the stock.

Maruti Suzuki (+1.56%) posted its Q1 results after market hours today. Net profit jumped 2.5x YoY to ₹2,485 crore; revenue rises 22%.

Apollo Hospital (-3.2%) was NIFTY50’s top loser.

Piramal Enterprises (-5.7%) fell sharply after posting poor financial performance in Q1 FY24. The company has also announced a ₹1,750 crore stock buyback.

Markets Ahead

A smart ending to the month, which indicates stability in the upcoming days. Let’s dive into technical analysis this week.

Nifty will continue its strength till it falls below the 19,560-600 zone, in which Friday’s day low lies. There is a high chance of consolidation this week in the 19,560-860 region.

I will be watching only three levels in Bank Nifty tomorrow, 45,200 (support), 45,750 and 45,920 (resistance). It has been in a stellar rally recently— 13% in 5 months!

Keep an eye on SBI’s ₹620 level as technicals indicate a super breakout.

I will be watching 20,200 as an expiry day support in FIN NIFTY for tomorrow.

Look out for important economic data like India’s manufacturing & services PMI, auto sales data, and others this week!

What levels are you watching out for FIN NIFTY expiry tomorrow? 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!

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Weak Weekly Closing for the Month – Post-Market Analysis

Post-Market Analysis for July 28, 2023:

NIFTY started the day flat at 19,659. Throughout the day, the index mostly consolidated with a negative bias. After moving down to the support level of 19,600, Nifty gave a small breakdown, went to the earlier swing of 19,560 levels, and reversed back to close at 19,646, down by 13 points or 0.07%.

Nifty chart post-market report - July 28

BANK NIFTY (BNF) started the day at 45,560 with a gap-down of 118 points. Similar to Nifty, Bank Nifty also mostly consolidated within a 250-point range between yesterday’s closing and 45,300 major support levels. BNF closed at 45,468, down by 211 points or 0.46%. 

Bank Nifty chart post-market report - July 18

Nifty Realty (+1.8%) and Nifty Media (+1.38%) closed well in green, while Nifty IT (-0.8%) fell the most. 

Major Asian markets closed mixed. Germany’s DAX and France’s CAC40 are currently trading in the red, while UK’s FTSE 100 is trading in the green.

Today’s Moves

NTPC (+3.9%) was NIFTY50’s top gainer. Yesterday, the company reported the declaration of the second unit of 660 MW capacity at Barh Super Thermal Power Station.

Intellect Design Arena (+19.7%) jumped after posting strong Q1 results.


Godfrey Phillips (+8.6%) continued its up-move after the company posted a 68.6% YoY risein consolidated net profit to ₹220.97 crore for Q1.

Bajaj Finserv (-1.8%) was NIFTY50’s top loser. The company’s net profit rose 48% YoY to ₹1,943 crore in Q1 FY24.

Supreme Industries (-7.8%) fell sharply after posting weak Q1 results. 

Markets Ahead

Markets took a pause after a huge fall yesterday (monthly expiry). Nifty has given a negative closing on a weekly time frame. This is the first negative closing for Nifty after a strong rally (from 18,900 to 19,990 levels).

Nifty: The major support zone in Nifty is clearly 19,600 levels, and the important resistance now will be 19,700. A breakdown from this support can give us a target of 19,560 and 19,520, while a breakout on the upside can give us a target of 19,750 and 19,820.

Bank Nifty: The next important support level for the index is 45,300, and major resistance would be 45,600. A breakout from 45,600 can give us a target of 46,200 and a breakdown can give us a target of 45,000 and 44,800 eventually.

In the next trading session, major bearishness could hit the markets if the market moves below today’s low and a trend reversal will also be confirmed.

US gross domestic product (GDP) expanded by 2.4% annually in the April-June quarter, surpassing the expected 1.8%. Despite robust economic data from the US, crude oil futures traded lower today morning. Look out for important economic data like India’s manufacturing & services PMI, auto sales data, and others next week!

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!

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Blood Bath on Monthly Expiry! – Post-Market Analysis

Post-Market Analysis for July 27, 2023:

NIFTY started the day at 19,850 with a gap-up of 72 points (above the resistance zone of 19,840). Right from the beginning, Nifty started moving down with strength. It gave a continuous fall to 19,600! Yes, a 250+ point down-move! Post 3 PM, there was a strong recovery of 100 points. Nifty closed at 19,659, down by 118 points or 0.6%.

BANK NIFTY (BNF) started the day at 46,285 with a gap-up of 223 points (near the important resistance zone of 46,200). When Nifty was falling initially, Bank Nifty tried to stay at its opening levels but eventually gave a breakdown and fell 750 points from the day’s high to the low of 45,570 levels. BNF closed at 45,679, down by 383 points or 0.8%. 

All indices except Nifty Pharma (+3.05%), Nifty Realty (+2.1%), and Nifty PSU Bank (+0.5%) closed in the red. Nifty PSU Auto (-1.2%) fell the most.

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

Today’s Moves

Cipla (+9.6%) was NIFTY50’s top gainer. The company posted a 45% YoY rise in consolidated net profit to ₹996 crore for Q1 FY24; beating street estimates.

Godfrey Phillips (+10.7%) zoomed up to 16% after the company posted a 68.6% YoY rise in consolidated net profit to ₹220.97 crore for Q1. 

Netweb Technologies‘ shares listed at ₹947 on NSE, at a premium of 89.4% compared to the issue price of ₹500.

M&M (-6.3%) was NIFTY50’s top loser. The shares fell after the company disclosed plans to pick up a stake in RBL Bank.

RVNL (-6.15%) fell after the company’s two-day offer for sale (OFS) kicked off today.

Markets Ahead

In yesterday’s post-market analysis, we clearly stated that the indices are experiencing selling pressure, and we anticipate a directional move on monthly expiry.

A huge gap-up was formed in our markets because of the US Federal Reserve’s interest rate decision. But immediately after opening, the gap was sold into— indicating that markets are now under selling pressure.

Nifty: The major support for Nifty will be the round level of 19,600, and the major resistance will be 19,700. A breakdown from these levels can give us a target of 19,560 and 19,520. A breakout from 19,700 can give us a target of 19,750 and 19,840 eventually.

Bank Nifty: The index is in a very broad range between 45,600 and 46,200, and can be volatile in this region. Currently, the index is at the bottom support zone of 45,600. If there is a breakdown on the downside, the index can give us a target of 45,300 and 45,000. If it moves up back into the zone, 46,000 can be watched as the target and the first resistance.

Being monthly expiry today, you could have made decent returns if your analysis pointed towards the right direction! 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 into The Stock Market Show at 7 PM on our YouTube channel!

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Trending Monthly Expiry? – Post-Market Analysis

NIFTY started the day at 19,733 with a gap-up of 52 points (above the important resistance zone of 19,700). There was a good upside movement till 19,820 levels initially. After that, the index mostly consolidated within a 45-point range till 2:40 PM and then broke down from the consolidation. Nifty closed at 19,788, up by 97 points or 0.5%.

Nifty chart - July 26

BANK NIFTY (BNF) started the day at 45,935 with a gap-up of 90 points. Throughout the day, the index consolidation with a positive bias in a channel. The resistance level of 46,000 still acted strong, and there was no good breakout from there. BNF closed at 46,062, up by 217 points or 0.47%. 

Bank Nifty chart - July 26

All indices closed flat-to-green today. Nifty PSU Bank (+1.5%) and Nifty Realty (+1.19%) moved up the most. 

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

Today’s Moves

L&T (+3.3%) was NIFTY50’s top gainer. The stock hit a 52-week high of ₹2,673.85 on the back of strong Q1 results and buyback announcement.

Reliance (+1.6%) rose up to 3% after reports revealed that the Qatar Investment Authority (QIA) is in talks to buy a stake in Reliance Retail Ventures.

Tata Motors DVR (+12%) surged after Tata Motors decided to cancel the differential voting rights (DVRs) to further simplify the capital structure. Tata Motors will issue 7 ordinary shares for every 10 DVR shares held.

Bajaj Finance (-2.28%) was NIFTY50’s top loser. The company posted a 32.4% YoY rise in consolidated net profit to ₹3,437 crore for Q1 FY24, beating street estimates.

Can Fin Homes (-9.4%) fell sharply after the company reported that employees at one of its branches committed fraud of nearly ₹38.53 crore.

Markets Ahead

The Indian market is still looking weak, and today’s move can be just another retracement from the bottom levels for further fall to come.

Nifty: The major support now in Nifty will be 19,750 and the important resistance to watch out for is 19,840 levels. If there’s a breakdown from 19,750, we can expect the index to come down to 19,700 and then to 19,620 levels eventually. A breakout on the upside could give us targets of 19,880 and 19,900.

Bank Nifty: If today’s parallel channel is breached on the downside (below 46,000), the index can give us a target of 45,620 levels. A breakout on the upside can give us a target of 46,200 and 46,350.

Being a monthly expiry tomorrow, both indices can be volatile with directional moves. So trade cautiously and watch the levels mentioned above!

Meanwhile, the US Federal Reserve is expected to hike interest rates again at today’s Federal Open Market Committee (FOMC) meeting by 25 basis points to 5.5% (versus 5.25% earlier).

What levels are you watching out for expiry tomorrow? 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!

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Volatile Monthy Expiry! Metal Stocks Shine – Post-Market Analysis

NIFTY started the day flat at 19,729 with a gap-up of 57 points. The index immediately fell, taking rejection from the earlier support zone of 19,700. It moved down till yesterday’s low of 19,660 zones (making lower lows), gave a strong pull-back to the 19,700 zone, and took rejection there. Then, Nifty gave a good fall to 19,620 levels and took support from there to move again sharply to the rejection zone of 19,700. Nifty closed at 19,680, up by 8.25 points or 0.04%.

NIFTY chart - July 25

BANK NIFTY (BNF) started the day at 46,154 with a gap-up of 231 points. The index fell to the 45,900-600 support zones but couldn’t sustain. After the breakdown and re-test of those levels, Bank Nifty further fell to 45,600 levels to take support and gave a huge recovery till the rejection zone of 45,900 zones. BNF closed at 45,845, down by 78 points or 0.17%. 

Bank Nifty chart - July 25

Nifty Metal (+2.94%) and Nifty Media (+1.5%) moved up the most, while Nifty PSU Bank (-1.4%) fell sharply. 

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

Today’s Moves

Hindalco (+3.82%) was NIFTY50’s top gainer. 

Metal stocks Tata Steel (+3.25%), JSW Steel (+3.2%), NTPC (+2.4%), NALCO (+2.9%), Hindustan Copper (+5.4%), and others surged today.

Jyothy Labs (+19.9%) rallied after its net profit jumped 102% to ₹96.25 crore on the back of moderating input costs and a stable demand environment in Q1 FY24.

Asian Paints (-4.04%) was NIFTY50’s top loser. The company’s consolidated net profit rose 53% YoY to Rs 1,550 crore; beating street estimates.

ITC (-1.9%) continued its fall after announcing the demerger of its hotel business.

Olectra Greentech (-9%) shares have fallen 21% in 7 days. BSE and NSE have placed the stock under the long-term ASM framework.

Markets Ahead

Markets have turned bearish, and the levels mentioned in yesterday’s post-market analysis acted as planned. Our targets of 19,560 in Nifty and 45,500 in Bank Nifty are still intact. So if there’s a follow-up tomorrow, those targets could be hit!

Nifty: Now, the important resistance is clearly 19,700 and the important support is near 19,560 (which also coincides with the falling channel pattern low). If there’s a flat opening tomorrow below 19,700, Nifty can have another round of sell-off tomorrow. On the other hand, if there’s a breakout from the 19,700 level, the index can move to the 19,770 resistance level.

Bank Nifty: The index is now below the support zone of 45,900 and has turned bearish. But on a 5 min chart, there’s a bullish head and shoulder pattern that’s been formed. So if the index crosses 45,800 tomorrow, we can expect it to fall to today’s low and eventually till the 45,500 level. If there’s a breakout from 46,000 levels, Bank Nifty can move to 46,250 as the first target.

FIN NIFTY was super volatile like Nifty and Bank Nifty on expiry day. The index made some crazy moves, creating trouble for both option buyers and sellers. But if you were a safe/conservative option seller, you would have made money!

Meanwhile, business activity in the U.S. slowed to a five-month low in July, dragged down by decelerating service-sector growth. The Federal Open Market Committee’s (FOMC) meeting will begin today. Investors are expecting the group to raise interest rates by 25 basis points to their highest level since 2001.

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

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Markets Take a Pause Due to ITC, Reliance – Post-Market Analysis

NIFTY started the day flat at 19,748. The index was volatile within a 100-point range between 19,780 and 19,680 with a bearish bias. It has been moving in a downward channel since Friday. Nifty closed at 19,672, down by 72 points or 0.37%.

BANK NIFTY (BNF) started the day at 46,131 with a small gap-up of 56 points. Similar to Nifty, BNF fell sharply after 11:30 and consolidated in a 230-point range for the remainder of the day. The index has also formed a triangular pattern. BNF closed at 45,923, down by 152 points or 0.33%. 

All indices except Nifty Pharma (+0.4%), Nifty Realty (+0.2%), Nifty PSU Bank (+0.1%), and Nifty Auto (+0.17%) closed in the red. Nifty FMCG (-1.7%) fell the most.

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

Today’s Moves

SBI Life (+2.05%) was NIFTY50’s top gainer on the back of strong volumes. 

Aarti Drugs (+18.6%) surged after the company approved plans for a buyback of 6.65 lakh fully paid-up equity shares. The floor price for the buyback is set at ₹900 per share, which is over 72% higher than the stock’s closing price on Friday.

ITC (-3.89%) was NIFTY50’s top loser. The company’s board has given in-principle approval for the demerger of its hotel business.

Kotak Bank (-3.7%) fell sharply despite reporting better-than-expected Q1 results.

Tejas Networks (-8.1%) crashed after the company’s net loss widened sequentially in the April-June (Q1) quarter.

Hikal (-7.28%) moved down after the Gujarat Pollution Control Board (GPCB) asked the pharma company to close down its plant in Bharuch for alleged violation of environmental norms.

Markets Ahead

Both Nifty and Bank Nifty are at crucial support zones and can give good moves on either side tomorrow.

Nifty: The index is now below its support of 19,700. But if there’s a flat or gap down opening, the index can further come down to the 19,560 level. If there’s a gap up and further up-move, the index can go back into the consolidation zone of 19,800 and 19,700.

Bank Nifty: 45,900 in Bank Nifty is a very important support zone. A breakdown from here can give us the target till the round levels of 45,500 and then eventually to 45,200 zones. But looking at the triangular pattern Bank Nifty has formed, a breakout on the upside is more likely to happen and if the market goes up tomorrow, we can expect a target of 46,400.

Meanwhile, Reliance Industries shares fell over 2% today after the company reported lower-than-estimated Q1 earnings. The US will report its manufacturing PMI data tonight.

Being FIN NIFTY expiry tomorrow, major indices can be volatile. Since it’s the monthly expiry also, we can expect some directional moves tomorrow. So trade cautiously if you’re a non-directional player! 

Which 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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Nifty Misses 20,000 by an Inch! – Post-Market Analysis

White golf ball near the hole on the green grass

NIFTY started the day flat at 19,831. The index initially moved down to 19,760 levels (which was a major support zone). Then, Nifty started its upside rally and went up till 19991.7— hitting a fresh all-time high and missing the 20,000 mark by just 9 points! Nifty closed at 19,979, up by 146 points or 0.74%.

BANK NIFTY (BNF) started the day at 45,689 with a small gap-up of 19 points. The index initially consolidated within a small range above the resistance level of 45,700. Then, similar to Nifty, Bank Nifty just moved up throughout the day to hit an all-time high of 46,257. BNF closed at 46,186, up by 517 points or 1.13%.

All indices except Nifty IT (-0.66%) closed flat-to-green. Nifty Pharma (+1.46%) and Nifty FMCG (+1.35%) moved up the most.

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

Today’s Moves

ITC (+2.7%) was NIFTY50’s top gainer. The stock hit a fresh 52-week high of ₹493.7 and its market cap crossed the ₹6 lakh crore mark. 

Polycab (+9.48%) extended gains for the second day after the company reported an 81% YoY increase in its net profit for Q1.

Hatsun Agro Products (+7.5%) jumped over 12% after posting its Q1 results.

Reliance (-7.8%) turned ex-date for demerger of its financial services business.

Infosys (-1.7%) posted an 11% year-on-year (YoY) growth in consolidated net profit to ₹5,945 crore in Q1; missing street estimates.

ABB India (-6.4%) fell after its parent company’s order inflows declined 2% to $8,667 million in CY2023.

Markets Ahead

As mentioned earlier, the Indian markets have turned bullish and both Nifty and Bank Nifty are at their all-time highs.

Nifty: Now, the important resistance for Nifty will be the bigger round level of 20,000 and support will be 19,840 levels. If Nifty crosses the 20,000 mark, it can move further higher to a target of 20,080 as per pivot levels. If the index crosses 19,930, which is the previous swing, a target of 19,888 and 19,840 levels can be achieved.

Bank Nifty: The important support zone now in Bank Nifty will be the round level of 46,000. The major resistance will be today’s high. If there’s a breakout on the upside, the index can move to 46,600 zones according to pivot levels. A breakdown from 46,000 can give us a target of 45,870 and 45,760 levels eventually.

Even though the markets kept moving higher and higher, it was an easy expiry for both option buyers and sellers. How did your expiry day go? Are you in net profit or loss? Let us know in the comment section of the marketfeed app!

Meanwhile, shares of de-merged Reliance Industries (RIL) were discovered at ₹2,580 on NSE and ₹2,589 on BSE after the special pre-opening session organised by the stock exchanges. RIL’s NBFC unit Jio Financial Services’ price came out to be ₹261.85 per share, beating estimates of up to ₹170.

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Daily Market Feed Post Market Analysis

Will Nifty Hit 20,000 Soon?- Post-Market Analysis

NIFTY started the day at 19,802 with a gap-up of 53 points. Initially, the index started moving higher to 19,840 levels (which was a pivot level resistance). Then, profit booking kicked in, and Nifty fell till the support zones of 19,730 levels. Then, it gave a huge recovery to hit a fresh all-time at 19,851. Nifty closed at 19,833, up by 83 points or 0.42%.

Nifty chart July 19

BANK NIFTY (BNF) started the day at 45,622 with a gap-up of 211 points. Unlike Nifty, Bank Nifty consolidated today within a 200 point-range between 45,700 and 45,500. BNF closed at 45,669, up by 258 points or 0.57%.

Bank Nifty chart July 19

All indices closed flat-to-green today. Nifty PSU Bank (+1.95%) and Nifty Media (+1.1%) moved up the most.

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

Today’s Moves

NTPC (+2.7%) was NIFTY50’s top gainer. Goldman Sachs has initiated coverage on the stock with a ‘Buy’ rating.

Tata Teleservices (+10.4%) surged on the back of strong volumes.

TV18 Broadcast (+9.16%) jumped after the company reported a 52% YoY increase in its consolidated net profit at Rs 91.20 crore for Q1.

Hindalco (-1.19%) was NIFTY50’s top loser. 

Network18 (-7.54%) fell after the company said its net loss widened to ₹38.73 crore in Q1 FY24.

Markets Ahead

Nifty is looking more bullish when compared to Bank Nifty. A lot of positive Q1 results have been boosting the index.

Nifty: Now, the important support level for Nifty will be 19,730, and the major resistance will be 19,880 (which is a pivot point resistance). If there’s a flat opening and Nifty moves higher, the index can move higher till the resistance zone. If the index falls below 19,830 levels, it can come down to the support levels mentioned above.

Bank Nifty: The index has moved in a range. So if there is a range breakout or breakdown from 45,700 levels and 45,500 levels, respectively, BNF can fall to 45,335 levels. On the upside, it could move to 45,890 levels.

Being weekly expiry tomorrow, both indices can be volatile. So watch out for all important levels and plan your trades accordingly.

In other news, UK’s inflation stood at 7.9% for June 2023, below the 8.2% that economists predicted. Euro Area’s June consumer prices rose 5.5% YoY in June vs an estimate of 5.5% growth.

FIIs have net bought for ₹1,165.47 crore today, while DIIs have net sold for ₹2,134.54 crore.

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

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

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Daily Market Feed Post Market Analysis

Nifty and Bank Nifty Hits Fresh Highs! – Post-Market Analysis

NIFTY started the day at 19,787 with a gap-up of 76 points— hitting a record all-time high again! Initially, a small profit booking was seen till 19,750 zones. From there, Nifty continued the rally to 19,820 levels and then saw a sharp fall to 19,700 round levels. The index consolidated with a positive bias for the rest of the day. Nifty closed at 19,749, up by 37 points or 0.19%.

BANK NIFTY (BNF) started the day at 45,754 with a gap-up of 305 points— hitting an all-time high. The index initially moved up to 45,900 levels and a small profit booking kicked in till 45,650 levels. Then, it moved back to the day’s high, made a double-top pattern, and came under selling pressure to 45,300 levels (which was also a previous resistance zone that now acted as support). The index immediately rebounded 300 points and another round of sell-off happened till the day’s low again. BNF closed at 45,410, down by 38 points or 0.09%.

All indices except Nifty IT (-1.06%) closed flat-to-red today. Nifty Media (-1.84%) and Nifty PSU Bank (-1.23%) fell the most. 

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

Today’s Moves

Infosys (+3.67%) was NIFTY50’s top gainer. The IT major secured a five-year deal worth $2 billion from an existing client. The company will post its Q1 results today.

Godrej Agrovet (+5.6%) after the Telangana govt allotted 47,000 acres for its oil palm business.

Polycab India (+5.4%) after net profit in Q1 FY24 beat analysts’ estimates.

HDFC Life (-1.59%) was NIFTY50’s top loser.

CCL Products (-8.6%) crashed after the company’s operating margins for Q1 fell by 115 basis points to 16.23%.

Markets Ahead

Nifty and Bank Nifty are clearly bullish as we’ve been mentioning in the previous post-market reports. The targets of 19,800 in Nifty and the ATH of Bank Nifty were hit today and the indices moved according to our analysis.

Both indices have rallied without giving much of a retracement, and every dip is getting bought. But looking at the fall from their respective all-time highs, Nifty and Bank Nifty might come under some selling pressure if there’s a follow-up tomorrow.

Nifty: The major support for Nifty will now be 19,700 zones (which was today’s low) and the major resistance will be the 19,750-780 zones, where the index faced multiple rejections. The next major resistance will be the 19,820 zone. So a breakout from 19,750-780 with a re-test may give a first target of 19,820 and then 19,840 eventually (which is also a pivot level).

Bank Nifty: The index is now at a support zone near 45,300-350. If support is being taken from here, we can expect Bank Nifty to move up to 45,560 zones and then eventually to 45,850 zones (which is near an all-time high and that can act as a major resistance).

Fin Nifty was as volatile as Bank Nifty today! Every 5min candle movement was huge— causing trouble to both option buyers and option sellers. In this kind of choppy expiries, money management and following proper rules will be the biggest weapon for traders.

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