NIFTY started the day at 19,612 with a gap-up of 47 points, hitting a fresh all-time high! The index initially came down to 19,560 levels (which was also the previous swing high from Thursday). Then, there was no looking back as Nifty kept moving up, making higher low patterns. The index hit a record high of 19,731.85 today! Nifty closed at 19,711, up by 146 points or 0.75%.

BANK NIFTY (BNF) started the day at 44,951 with a gap-up of 131 points (near a resistance zone). Then, the index fell to 44,700 support zones, consolidated till 1 PM, and gave a breakout on the upside to cross another important resistance of 45,100 zones. Bank Nifty touched 45,500 levels after 3 PM. BNF closed at 45,449, up by 630 points or 1.41%.

All indices except Nifty Auto (-0.32%) closed flat-to-green today! Nifty Media (+3.15%), Nifty PSU Bank (+2.25%), and Nifty Finserv (+1.25%) moved up with strength.

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

Today’s Moves

SBIN (+2.8%) was NIFTY50’s top gainer. 

HDFC Bank (+2.09%) moved up after reporting a 30% YoY increase in net profit to Rs 11,952 crore in Q1, meeting street estimates.

Sterling & Wilson Solar (+15.6%) surged after the company’s net loss narrowed in Q1 on the back of strong domestic engineering, procurement & construction (EPC) operations.

ONGC (-1.68%) was NIFTY50’s top loser. The govt has decided to implement an increase in windfall tax on crude oil production by ₹1,600 per tonne.

Route Mobile (-8.45%) crashed after reports said promoters will sell their entire 57.56% stake in the company for ₹5,922 crore.

Angel One (-7.05%) fell after NSE imposed a penalty of ₹1.67 cr on Angel One for violating regulatory norms.

Markets Ahead

Bank Nifty, which had been underperforming earlier, has now joined the party and helped Nifty hit an all-time high (ATH) again because of good results from HDFC BANK.

Nifty: The index clearly looks strong. Now, the important support that can be watched will be 19,600 and 19,570 levels. There are no major resistances as it’s at ATH. However, the round level of 19,700 can be looked into. According to Pivot levels, 19,800 can be the next target if Nifty doesn’t fall below the support zones.

Bank Nifty: The index has turned bullish by crossing the important resistance zone of 45,100. It is now above 45,500. So if the up-move continues, we can expect Bank Nifty also to hit its ATH at 45,650 zones. The 45,500 round level can still act as good resistance and the 45,100 zone can act as good support. If these levels are breached, it could trigger a good move in the index.

Fin Nifty: As tomorrow is Fin Nifty expiry, 20,450 can act as the first resistance and then 20,600. The important supports to watch are 20,220 levels and 20,140 levels.

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

NIFTY started the day at 19,495 with a gap-up of 110 points (above yesterday’s selling zone— trapping all the option sellers who sold near 19,450). The index went on to hit an all-time high (ATH) of 19,567 and consolidated in the first half. Nifty triggered panic selling after 1:30 PM and the index fell to the 19,380 support zone. Nifty closed at 19,413, up by 29 points or 0.15%.

BANK NIFTY (BNF) started the day at 45,009 with a gap-up of 369 points. The index couldn’t cross the resistance zone of 45,100, took a rejection, and gave a sharp fall of 480 points till 44,600 zones. BNF closed at 44,665, up by 25 points or 0.06%.

Nifty PSU Bank (-2.38%) and Nifty Media (-1.88%) fell heavily, while Nifty IT jumped 1.75%. 

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

Today’s Moves

TCS (+2.47%) was NIFTY50’s top gainer. The IT firm posted a 17% YoY rise in net profit to ₹11,074 crore in Q1 FY24, beating street estimates.

Hindalco Industries (+2.4%) gained after it announced plans to sell land worth ₹595 crore.

Tejas Networks (+11.2%) jumped on the back of strong volumes. The stock witnessed its biggest single-day gain since November 2019.

PowerGrid (-3.5%) was NIFTY50’s top loser. 

Federal Bank (-5.59%) fell after posting a 42% YoY rise in net profit to ₹854 crore in Q1 FY24, falling short of analysts’ estimates.

Markets Ahead

NIFTY gave moves in both directions— first hitting an all-time high and then a sell-off till support zones. Bank Nifty was not as strong as Nifty from the beginning itself.

As said in yesterday’s post-market report, every uptick is being sold, and we saw that happening today in both Nifty and Bank Nifty.

Nifty: Now, the index is at a major support zone of 19,400. If there’s a breakdown, Nifty can fall to the next important support zone of 19,340 and eventually to 19,300. The important resistance levels to watch out for will be the 19,480-500 zone (the previous swing high) and 19,560 (the all-time high).

Bank Nifty: The index took good rejection from the important resistance zone of 45,100, and that can be noted. The important support level to watch is 44,500. Bank Nifty is still in the downward channel and back at the lower side of the channel. If it breaks down from the channel and 44,500 is breached, we can expect Bank Nifty to fall to 44,200 levels.

Being an expiry today, everyone was expecting some bullishness because of the gap-up. But the huge sell-off created trouble for all the non-directional option sellers today. 

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

NIFTY started the day at 19,497 with a gap-up of 58 points. The index faced resistance around the 19,500 level and experienced a decline towards the support zone at 19,440.  Then, Nifty broke the 19,440 support zone, fell to yesterday’s low (19,400 level), took support there, and rebounded. The previous support levels at 19,440-19,450 now turned into resistance, and Nifty fell around 90 points towards the 19,360 level after 3 PM. Nifty closed at 19,384, down by 55 points or 0.28%.

BANK NIFTY (BNF) started the day at 44,872 with a gap-up of 127 points. The index mostly consolidated throughout the day within a 150-point range between 44,900 and 44,750 zones. It finally broke-down towards the end to 44,600 levels. BNF closed at 44,639, down by 105 points or 0.24%.

Nifty IT (-0.71%) fell the most, while Nifty PSU Bank rose 0.8% 

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

Today’s Moves

ONGC (+1.85%) was NIFTY50’s top gainer.

Mazagon Dock Shipbuilders (+8.79%) hit a record high of ₹1,751 today. The company is expected to secure new orders soon.

Elgi Equipments (+12.9%) hits a 52-week high of ₹623 after the manufacturer raised its revenue target for FY26. The company also received a 10-year supply order from Siemens.

Adani Ent (-1.44%) was NIFTY50’s top loser. The company raised ₹1,250 crore with its first rupee bond market foray since the Hindenburg report.

Delta Corp (-23.19%) crashed after the GST Council shocked the gaming industry by levying a 28% uniform GST on online gaming, casinos, and horse racing.

Markets Ahead

Nifty and Bank Nifty are clearly showing weakness. It’s a sell-on-every-rise market! Currently, both indices are at their respective support levels: 19,350 for Nifty and 44,500 for Bank Nifty.

Nifty: The important supports in Nifty are 19,350 and 19,300 levels and resistance now is 19,450. A breakdown and re-test from 19,350 will give us a target of 19,300 and 19,190 gradually (gap-filling levels).

Bank Nifty: The index has been moving in a downward channel after hitting an all-time high (ATH) and has been respecting it. BNF is currently at the bottom of the channel and the round-level support of 44,500 is nearby. If there’s a breakdown of these levels, the index could fall to 44,200 support zones. And if there’s a bounce from this level, Bank Nifty will be back in the channel and resistance can be watched near 44,800 zones (which is the previous swing high).

Ahead of Weekly Expiry, both indices have moved in both directions and have been volatile. So if there’s a breakdown from the current levels, tomorrow’s expiry can be trending. So watch out for the supports mentioned above!

TCS has kicked off the results season. The IT firm reported a 17% YoY rise in net profit to ₹11,074 crore in Q1 FY24, beating estimates.

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

Today’s post-market report got delayed due to technical issues. We apologize for the inconvenience caused.

NIFTY started the day at 19,400 with a gap-up of 69 points. The index initially moved up to 19,440 zones and then there was a sell-off immediately till the 19,350 zones, which is now acting as a crucial support. Nifty closed at 19,355, up by 24 points or 0.12%.

BANK NIFTY (BNF) started the day at 44,958 with a small gap-up of 33 points. Initially, the index went up to 45,200 levels (which was also Friday’s high) and then moved down gradually to 44,750 levels. BNF closed at 44,860, down by 64 points or 0.14%.

All indices except Nifty Metal (+1.69%) closed in the red. Nifty IT (-1.24%) fell the most. 

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

Today’s Moves

Reliance (+3.85%) was NIFTY50’s top gainer. The company has fixed July 20 as the record date for the demerger of its financial services arm Reliance Strategic Investments. It has also decided to reduce the equity share capital of Reliance Retail.

Mazagon Dock Shipbuilders (+8.6%) surged after reports said India’s submarine fleet is set to strengthen with additional Kalvari Class Submarines.

Olectra Greentech (+4.5%) has skyrocketed over 30% in 2 days on the back of winning a mega order worth ₹10,000 crore.

Titan (-3.13%) was NIFTY50’s top loser. Morgan Stanley has downgraded the stock to ‘Equal Weight’, citing a temporary pause in its outperformance in the near term.

Prism Johnson (-5.7%) fell heavily after the company’s board approved the transfer of freehold land parcels aggregating 1,420 acres to Ramco Cements.

Markets Ahead

Bank Nifty is looking bearish compared to Nifty, and it has come near the support level of 44,700. Nifty has now taken support at 19,350 levels and consolidated.

Nifty: The important support to look out for is 19,350 zones and the next major support will be 19,300. The resistances to watch out for will be the previous swing of the 19,400 zone and the major resistance of 19,440. A breach on the lower side of 19,300 can trigger a fall to 19,200 and fill the gap. On the upside, a breakout of 19,440 can make a move to 19,470 and 19,500 eventually.

Bank Nifty: The important support now in Bank Nifty is 44,700 and the resistance will be 45,000. As the index is looking weak and making higher lows, a high probability of a down-move can be anticipated till a target of 44,500. A breakout on the upside can give us targets of 45,200 and 45,400.

Tomorrow is FIN NIFTY expiry, and we can expect volatility if major indices are stuck in the ranges mentioned above. And if the levels are breached, then it could trigger a big rally!

This week is going to be important because there will be significant changes happening with HDFC Bank. On July 13th (expiry day), the HDFC-HDFC Bank merger will officially take place, and MSCI will make the necessary replacements in its index.

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

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

NIFTY started the day at 19,422 with a gap-down of 74 points. From the opening, Nifty made a decent rally till 19,524, creating another all-time high (ATH)! But the index immediately saw a huge sell-off to 19,350 levels, made a small pull-back, and then continued the fall again to 19,300 levels. Nifty closed at 19,331, down by 165 points or 0.85%.

BANK NIFTY (BNF) started the day at 45,118 with a gap-down of 221 points. Unlike Nifty, Bank Nifty didn’t have enough strength and was bearish throughout. The index gave a sharp fall to 44,850 levels and tried moving up. But the earlier support zone of 45,000 acted as resistance, and the index fell again. BNF closed at 44,925, down by 414 points or 0.92%.

All indices except Nifty Media (+3.91%), Nifty PSU Bank (+0.98%), and Nifty Auto (+0.29%) closed in the red. Nifty FMCG (-1.53%) fell the most.

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

Today’s Moves

Tata Motors (+2.9%) was NIFTY50’s top gainer. The automaker reported a strong jump in its Jaguar-Land Rover (JLR) sales during the April-June quarter.

Olectra Greentech (+9.5%) jumped after securing an order for 5,150 electric buses worth ₹10,000 crore from the Maharashtra government.

ideaForge nearly doubled IPO investor wealth on Day 1 with a 94% listing gain! The stock debuted at ₹1,300 on NSE.

ZEEL (+8.8%) surged on the back of a large block deal.

Adani Ports (-2.8%) was NIFTY50’s top loser. As per reports, the promoters of the Adani Group will continue to sell holdings in group companies in the coming months.

Hindustan Unilever (-2.1%) fell after hitting a fresh 52-week high of Rs 2,769.65 during the day.

Markets Ahead

We saw good corrections in major indices today, and they are at major support zones: 19,300 in Nifty and 44,800 zones in Bank Nifty.

As we said in yesterday’s post-market report, if Nifty breaks the 19,440 level, we can see a fall to 19,350— and we saw that happen today! In Bank Nifty, we said that if the 45,100 zone is breached, we can expect a target of 44,700 (which is also the gap-filling region).

Nifty: The index is at a very important support zone of 19,300, and the resistance to be watched is the ATH at 19,520 zones. On an hourly time frame, the index is taking support according to the Fibonacci levels. If there is a breakdown from there, we can expect targets of 19,150 on the downside and the second target can be 19,020 in the coming week. If Nifty retraces from here, we can see another round of rally on the upside.

Bank Nifty: The index is looking much more weak than Nifty. It has broken down from the consolidation zone in which it was trading (45,400 and 45,100). Now, the immediate support is 44,700 and resistance will be 45,000 zones. If the support levels are beached, the index can fall to 44,500 zones. If the index goes back above 45,000, it can be in the sideways zone again.

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

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

NIFTY started the day at 19,405 with a small gap-up of 16 points. The index formed a 55-point candle at opening (5-min chart), and Nifty consolidated in this range itself for the most part of the day. A few false breakdowns and immediate reversals were seen in the index. And with a strong up-move after 2:45 PM (supported by ICICI Bank, ITC, HUL), Nifty closed at 19,398, up by 9.5 points or 0.05%.

BANK NIFTY (BNF) started the day at 45,169 with a gap-down of 131 points. The index fell till the 45,000 round levels and shot back up to 45,400 round levels. BNF consolidated in this range throughout the day with negative bias. BNF closed at 45,151, down by 131 points or 0.33%.

Nifty FMCG (+1.8%), Nifty Auto (+1.6%), and Nifty Media (+1.49%) closed well in the green. 

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

Today’s Moves

Bajaj Auto (+5.7%) was NIFTY50’s top gainer. The company launched two new bikes today— Triumph Speed 400X and Scrambler 400 X.

Samvardhana Motherson Intl (+6.05%) said it will acquire a majority stake (81%) in Japan-based auto-part maker Yachiyo Industry’s four-wheeler (4W) business.

MRPL (+12.05%) surged on the back of strong volumes.

HDFC Bank (-3.18%) was NIFTY50’s top loser. The stock experienced profit-booking after a 5-day rally and reporting provisional updates for Q1 FY24. HDFC also closed 3.2% in the red.

Suzlon Energy (-4.9%) fell ahead of the company’s board meeting on July 7 to raise funds within a year of its rights issue.

Markets Ahead

Both Nifty and Bank Nifty have been consolidated within a range after the crazy rally. Now, we have clear resistances and supports to look at and take views accordingly.

Nifty: Important resistance to look out for will be the all-time high (ATH) level of 19,430 zones and the important support zone of 19,300. If the levels are breached on the upside, Nifty can give us an immediate target of 19,500 round levels. If the strength is still intact, we can expect the index to move to 19,550 and 19,600 eventually. if there’s a breakdown on the lower side, 19,250 and 19,200 can be our first targets.

Bank Nifty: The important resistance level to watch now is 45,400 or today’s high. The 45,000 round level can be an important support. If there’s a breakout on the upside, the index can test the ATH of 45,600 zone again. If there’s a breakdown on the downside, we can expect the index to come down to 44,700 and then 44,500.

According to Fibonacci levels, Nifty could further move up and then face a healthy correction to 19,250. Bank Nifty is already at fib support, and if this round level support is breached, it can give healthy correction till 44,800 fib supports.

As it’s a weekly expiry tomorrow, markets can be volatile within a range or give us trending moves as well. Expiry days have been volatile lately. So trade with good money management, proper position sizing, and always following a system.

All markets are eagerly waiting for the release of FOMC meeting minutes today for more information on the US Federal Reserve’s rate-hike path.

In other news, India’s services PMI fell to a three-month low of 58.5 in June from 61.2 in May. However, it still reflects strong demand even as prices charged to consumers rose.

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

NIFTY started the day at 19,406 with a gap-up of 84 points— hitting an all-time high (ATH) again! The index saw a good profit booking of 120 points and came down to 19,300 round levels. It took support there, shot up again to 19,430 levels to hit an ATH (19,434.15) after crossing the day’s high, and finally cooled down. Nifty closed at 19,389, up by 66 points or 0.34%.

BANK NIFTY (BNF) started the day at 45,310 with a gap-up of 152 points. Similar to Nifty, BNF fell down till the 45,000 round levels initially. From there, the index rallied more than 650 points to 45,650 levels, gave a retracement, and finally consolidated towards the end. BNF closed at 45,301, up by 143 points or 0.32%.

All indices except Nifty Auto (-0.48%) and Nifty Realty (-0.18%) closed in green. Nifty PSU Bank (+1.89%) moved up the most.

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

The US markets will remain closed today on account of Independence Day.

Today’s Moves

Bajaj Finance (+7.19%) was NIFTY50’s top gainer on the back of strong Q1 performance. Bajaj Finserv (+5.8%) also moved up.

Hero Moto Corp (+4.5%) and Harley Davidson announced the debut of their most-affordable X440 in India to take on Eicher’s Royal Enfield.

Aster DM Healthcare (+13.5%) surged after reports indicated that private equity firm Fajr Capital is in talks to acquire a majority stake in the company’s Gulf business.

Eicher Motors (-6.3%) was NIFTY50’s top loser. The stock fell heavily after the Hero MotoCorp announcement of its bike launch.

Shares of Kansai Nerolac Paints turned ex-bonus today.

Markets Ahead

As we’ve said in the earlier post-market reports, the Indian markets have clearly turned bullish. We are seeing a good rally across most indices and every dip is being bought. For perspective, Nifty rallied nearly 3% or 500 points in just 3 trading days after the breakout. Bank Nifty has surged 1,500 points or 3.3% in 3 days.

On the daily charts, there has been a constant gap up and continuation of the trend without any retracement. The markets need some consolidation or retracement for new buyers to join and the rally to sustain.

Being a weekly expiry on Thursday, we can expect the market to pause or take a retracement to attract fresh buyers. For that, the important supports to watch in Nifty are 19,300 (today’s low) and 19,250. The resistance to watch would be 19,500 round levels.

In Bank Nifty, the major support will be the 45,000 round levels and 45,500 could act as an important resistance. But as today’s high was made at 45,600 zones, that can also be considered as a strong resistance.

If the support is breached in Nifty, we can expect the index to have a healthy retracement till 19,200 zones. On the upside, the ATH and psychological round levels can be kept as targets.

As today was FIN Nifty expiry, the insane volatility created trouble for all option sellers. There was no decay in puts till the very end and calls were spiking. This is quite normal when India Vix is at low levels and it started to rise. So trade with proper money management and risk in the coming days.

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

NIFTY started the day at 19,076 with a gap-up of 104 points— hitting an all-time high (ATH) again! As it’s at ATH and there are no resistances that can be watched on the upside, only psychological levels will play a major role. Ever since opening, Nifty has been moving up gradually to 19,200 round levels. Nifty closed at 19,189, up by 216 points or 1.14%.

BANK NIFTY (BNF) started the day at 44,666 with a gap-up of 338 points and hit ATH. Nifty has been on a bullish trend, and now BNF has also joined the party. After opening, the index faced some profit booking and came down to near yesterday’s high. After that, BNF moved up slowly till 44,787. BNF closed at 44,747, up by 419 points or 0.95%.

All indices closed flat-to-green today. Nifty IT (+2.5%) Nifty Auto (+2.07%), and Nifty PSU Bank (+2.06%) moved up the most.

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

Today’s Moves

M&M (+4.2%) was NIFTY50’s top gainer. The company has achieved the 9 lakh production milestone for Scorpio.

Other auto stocks Hero MotoCorp (+2.8%), Maruti Suzuki (+2.6%), and Tata Motors (+1.5%) also moved up with strength.

Asset management companies Nippon Life India Asset Management (+11.6%) and HDFC AMC (+11.98%) surged today! 

Adani Ports (-2.28%) was NIFTY50’s top loser.

MCX (-8.6%) crashed after the exchange extended the support services being provided by its existing software vendor, 63 Moons Technologies, for six months.

Shares of CreditAccess Grameen (-5.8%) fell on reports that its promoter is likely to sell a stake in the company through block deals.

Markets Ahead

Markets have turned bullish as said in Wednesday’s post-market report! Today, Nifty, Banknifty and Fin Nifty have hit all-time highs!

As the indices are at ATH, there are no major resistances to watch out for other than psychological round levels or price action. In Nifty, today’s 19,200 zones can be watched as resistance. In Bank Nifty, the 45,000 levels can be tested. Meanwhile, on the downside, 19,140 (the previous swing) and 19,100 levels can be watched as immediate support in Nifty. 44,450 – 500 levels could be important support levels in Bank Nifty.

If the indices open with a gap up on Monday, there could be a profit booking. After making a price action, the indices can continue the upside move. But if there’s a gap-down opening, sellers will be active as they are getting the opportunity to sell at the top and buyers are trapped— so that can also trigger a fall.

In other news, the Indian rupee ended June with its highest gains since January on the back of strong foreign fund inflows into equity markets.

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

NIFTY started the day at 18,908 with a gap-up of 90 points— hitting an ATH! Then, the index saw a small profit booking to 18,860 levels. The earlier rejection zone of 18,880 acted as support, and there was no looking back! Nifty made higher lows and just kept going up till 19,000 round levels, where it faced rejection. Nifty closed at 18,972, up by 154 points or 0.82%.

BANK NIFTY (BNF) started the day at 44,419 with a gap-up of 298 points (above the earlier resistance zone of 44,200). It came down to the 44,200 levels, which acted as a support zone. The index kept moving higher to the round levels of 44,500, and then profit booking kicked in. BNF closed at 44,327, up by 206 points or 0.47%.

All indices except Nifty Media (-0.67%) closed in green. Nifty Pharma (+1.46%) and Nifty Metal (+1.36%) moved up the most. 

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

Today’s Moves

Adani Ent (+5.15%) was NIFTY50’s top gainer. US-based investment firm GQG Partners and others have bought shares worth $1 billion in the Adani Group.

JBM Auto (+12.6%) surged on the back of strong volumes.

IndiGo (+3.6%) rallied to hit a 52-week high of ₹2,635.15, taking the market cap of the airline past ₹1 lakh crore.

HDFC Life (-2.29%) was NIFTY50’s top loser. Nearly 1.7 crore shares or 0.75% stake of the company changed hands in the block deal window today.

Narayana Hrydatalaya (-3.7%) fell after Kotak Institutional Equities recommended investors to book profits in the stock.

Markets Ahead

NIFTY was today’s star as it was more bullish and kept moving higher and higher with the help of Reliance in the first half and IT, metal stocks in the second half. Meanwhile, Bank Nifty traded mostly in the range of the first 5-min candle. As BNF had already hit an all-time high (ATH) a while ago, there was more bullishness in Nifty.

As we said in the earlier post-market reports, if the important resistances are taken out, we can expect Nifty to hit 19,000 and BNF to hit 44,500. And that’s what happened today! Overall, the markets have turned bullish. Now, the important resistance level that can be watched in Nifty is the clear 19,000 round level or the ATH at 19,011. In Bank Nifty, it’s the 44,500 round level.

The supports to be watched are 18,880 in Nifty and 44,200 zones in BNF. If these important supports are breached, then the indices could turn bearish-to-sideways again.

Even though Nifty was shooting up, we could see the India Vix was also moving up— making it very hard for the option sellers today. Premiums not decaying definitely created some trouble for the expiry traders. If you were following proper risk management and strategy, you could’ve managed your positions well.

The markets will remain closed tomorrow on account of Bakrid. The July series would start on Friday. While the earlier decision to hold Bank Nifty expiries on Friday is now withdrawn by NSE, the change in BNF lot size to 15 is still intact.

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

marketfeed wishes all our readers a very Happy Eid-ul-Adha!

NIFTY started the day at 18,748 with a gap-up of 57 points. The index struggled a lot today to break the resistance at 18,750. Once it was broken, it gave a decent rally to 18,820 levels. Nifty closed at 18,817, up by 126 points or 0.68%.

BANK NIFTY (BNF) started the day at 43,804 with a gap-up of 163 points. Today’s movements in Bank Nifty were unbelievable! When the market opened, we all were looking at the support near 43,500. But it made a strong rally of 400+ pts in the last two hours (supported by the HDFC twins)! BNF closed at 44,121, up by 480 points or 1.1%.

All indices except Nifty FMCG (-0.07%) closed in green. Nifty Realty and Nifty PSU Bank rose >1%. 

Major Asian markets closed mixed. Japan’s Nikkei (-0.49%) posted its longest losing streak of 2023 as tech stocks fell. European markets are currently trading in the red.

Today’s Moves

HDFC Life (+5.8%) was NIFTY50’s top gainer. HDFC (+1.5%) and the group’s other listed stocks traded higher after Chairman Deepak Parekh said the merger of HDFC with HDFC Bank Ltd will be effective July 1. 

FACT (+10.48%) jumped on the back of strong volumes.

Wood-panel stocks like Greenpanel (+8.19%) and Greenlam (+4.7%) gained as analysts see a large market potential

Cipla (-1.24%) was NIFTY50’s top loser.

Brightcom Group (-5%) has fallen over 15% over the past week amidst its legal troubles.

Markets Ahead

Today’s candle is a good follow-up candle in Nifty. Why?

• Yesterday, Nifty took multiple supports from 18,650.
• Today, the index opened above 18,730 resistance and moved down in the morning.
• But it took support from yesterday’s high (the previous day’s resistance).

This setup usually indicates a rally in the second half. You can watch this setup in the future and learn more about it!

Bank Nifty breaking 44,000 resistance with a strong one-hour candle is a good candle. If the 44,170-220 resistance range is broken, more upside movements will be opened for Bank Nifty.

NSE has shifted Bakri Id 2023 market holiday to Thursday from tomorrow, and the June series expiry will be tomorrow.

HDFC Bank-HDFC merger will be completed this week itself. HDFC’s shares will be delisted on July 13.

A lot of interesting market changes are happening in July! HDFC’s delisting, Bank Nifty F&O lot size changed to 15, Bank Nifty expiry on Fridays…

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