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Daily Market Feed Post Market Analysis

Key Levels Taken Out! Bearishness Continues – Post-Market Analysis

NIFTY started the day flat at 19,286. After an initial up-move to 19,350 levels, the index fell 270 points to 19,075. During the decline, Nifty tried taking support at 19,200 levels, took rejection near yesterday’s low, and continued the fall. The index consolidated post 1:30 PM and finally closed at 19,122, down by 159 points or 0.83%.

Nifty chart October 25 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,308 with a gap-up of 157 points.  After an initial consolidation, the index fell nearly 600 points from the intraday high (continuing the fall from yesterday). BNF closed at 42,832, down by 319 points or 0.74%.

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

All major indices except Nifty PSU Bank (+0.17%) and Nifty Metal (+0.15%) closed in the red. Nifty Media (-1.6%) and Nifty IT (-1.03%) fell the most.

Major Asian markets closed in the green. European markets are currently trading up to 0.4% in the red.

Today’s Moves

Coal India (+1.37%) was NIFTY50’s top gainer. ICICI Securities has maintained a ‘Buy’ advisory on the stock and raised its target price from ₹325 to ₹395. 

Welspun India (+11.2%) hit a one-year high after the company posted strong Q2 results on the back of higher demand for home linens.

Amber Enterprises (+6.49%) jumped after several analysts raised the stock’s target price even as the company’s losses for Q2 FY24 widened over last year.

Infosys (-2.7%) was NIFTY50’s top loser. The stock turned ex-dividend today.

Shares of Jubilant Pharmova (-7.7%) fell sharply today.

Markets Ahead

Bearishness continues in the Indian market! Nifty and Bank Nifty have broken down major supports. After this fall, the indices might undergo volatility or a small retracement.

Nifty: The important support for the index is near 18,900 levels, which is a bit far from the spot. It is a major target that could be expected in the coming days. The index may retrace a bit in between. Meanwhile, the major resistance will now be 19,200 levels (the earlier support levels). If that level is crossed, the targets could be 19,260 and 19,350.

Bank Nifty: The next major support to consider in BNF is 42,500. The major resistance level to watch out for will be 43,000. If that level is breached, we can expect the index to move up to 43,180 and 43,450 levels. But for a major trend reversal, the index has to cross 43,700.

Major indices have stretched a lot on the downside over the past few days. So a retracement or some profit booking could be seen going forward, which can take the markets up a little. But look for sell-on-rise opportunities only till major resistances are crossed.

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Daily Market Feed Pre Market Report

Green Opening Loading. Watch out for Reliance AGM! – Pre-Market Analysis Report

jio financial services pre-market report | marketfeed

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

Stocks

Reliance Industries will be in focus ahead of the 46th annual general meeting(AGM) today. It will be at 2 PM.

The removal of Jio Financial Services from Sensex and other BSE indices has been postponed to September 1st. It will be taken off from NIFTY 50 on August 29th.

BEL has received new defence and non-defence orders worth Rs 3,289 crore during July and August. BEL has now received orders of Rs 11,380 crore in current financial year.

What Happened on Friday?

NIFTY started the week at 19,320 and slowly moved up till Wednesday. On Thursday, the market opened with a big gap up and hit an intraday high of 19,584 before falling heavily. Friday saw a gap-down opening and another weak closing. NIFTY closed the week at 19,265, down by 55 points or 0.28%.

BANK NIFTY started the week at 43,935 with a small gap-up. After two normal days, Wednesday was a big green candle day in the index. After hitting a weekly high of 44,949 on Thursday, the index fell back sharply by nearly 1,000 points. BANK NIFTY closed the week at 44,496, up by 296 points or 0.67%. 

U.S. markets closed in the green on Friday. The European markets also closed slightly in the green.

What to Expect Today?

The Asian markets are trading in the green.

The U.S. Futures are trading slightly in the green.

GIFT NIFTY is trading slightly in green at 19,272.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 19,240, 19,200 and 19,120. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,150, 43,950, 43,840. Resistances are at 44,520, 44,600 and 44,800.

FINNIFTY has supports at 19,550 and 19,500. Resistances are at 19,700, 19,735 and 19,800.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.67.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.81.

FINNIFTY has the highest call OI buildup at 20,000. There is high put OI buildup at 19,600. PCR is at 0.86.

Foreign Institutional Investors net-sold shares worth Rs 4,638 crores in the week. Domestic Institutional Investors net-bought worth Rs 1,414 crores for the week.

INDIA VIX is higher, at 12.08. 

Markets worldwide are in the green as Fed Chair Jerome Powell pointed to signs of continued economic growth and strong consumer spending but indicated that the central bank would “proceed carefully” with additional interest rate hikes.

Reliance’s AGM is expected to bring in volatility to the stock. Do watch out for crazy moves, in fact, avoid it if you can at 2 PM.

This week is already expected to be volatile, so let’s see what happens with today’s gap-up. There is heavy call writing near the spot price for NIFTY, so it will be interesting to see how the market behaves in case of a gap-up.

Considering all international markets are green, we can expect NIFTY to show bullishness today. A close above 19,400 is essential to display stability.

Bank NIFTY and FINNIFTY are currently showing more strength than NIFTY. So do watch out for afternoon strength in these indices.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or our website for trades!

Make sure you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Global Markets Down Ahead of Fed Chair Speech – Pre-Market Analysis Report

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

Stocks

Paytm’s promoter Antfin is likely to sell a 3.6% stake today at a floor price of Rs 880.10 per share.

Astra Microwave Products has bagged orders worth Rs 158 crore for the supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and other Defence PSUs.

The Government of Singapore bought Amber Enterprises shares worth Rs 113 crores via open market transactions.

Telecom data for the month of June showed both Reliance Jio and Airtel adding subscribers, while Vodafone Idea continued to lose subscribers.

What Happened Yesterday?

NIFTY started the day at 19,535 with a gap-up of 91 points and moved up. But from the day-high, it gave a fall of 200 points and gave a very bearish closing below 19,400. NIFTY closed at 19,386, down by 57 points or 0.29% 

BANK NIFTY started the day at 44,704 with a gap-up of 225 points. After the initial strength, the index fell 500 points from the day’s high to 44,430 levels. BANK NIFTY closed at 44,496, up by 17 points or 0.04%. 

U.S. markets closed in the red. The European markets closed flat to red.

What to Expect Today?

The Asian markets are trading in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in red at 19,275.

All the factors combined indicate a gap-down opening in the market.

NIFTY has supports at 19,360, 19,300 and 19,240. We can expect resistances at 19,400, 19,438, and 19,500.

BANK NIFTY has supports at 44,277,  44,150 and 44,100. Resistances are at 44,600, 44,800 and 44,950.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.59.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.86.

Foreign Institutional Investors net-bought shares worth Rs 1,524 crores. Domestic Institutional Investors net-bought worth Rs 5,796 crores.

INDIA VIX is at 11.70. 

Yesterday was a very volatile day in the market. Early short covering and then heavy selling came and took the markets down heavily.

Huge block deals also kept FII buying numbers in the green, despite the market falling.

The U.S. market also opened well in the green after good results but fell heavily towards the end of the day. Markets around the world are looking ahead to an important speech from Fed Chair Jerome Powell at Jackson Hole.

Big stocks, including Reliance, showed a lot of volatility yesterday. Note that the Crude Oil prices are cooling down internationally.

I hope you kept your capital safe in yesterday’s tricky moves. Congrats to whoever came out profitable. 

We expect an even crazier monthly expiry next week, with a volatile trading session today!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

Divi’s Labs Reports 13% YoY Rise in Net Profit in Q1 – Top Indian Market News

Divi’s Labs Q1 Results: Net profit rises 13% YoY to Rs 557 crore

Divi’s Laboratories Ltd reported a 13.2% YoY increase in consolidated net profit to Rs 557.11 crore for the quarter ended June (Q1 FY22). Net profit has increased by 10.9% when compared to the previous quarter. Its total income rose 14.2% YoY (or 10.2% QoQ) to Rs 1,997 crore during the same period. The pharma company’s foreign exchange (forex) gain stood at Rs 20 crore in Q1, compared to Rs 5 crore in the corresponding quarter last year.

Read more here.

PM Modi pushes for higher exports in post-pandemic world

Prime Minister Narendra Modi has asked industry representatives in India to look at ways to increase exports. This move could help boost employment in our economy, which is still recovering from a Covid-19-induced slowdown. The Central government has set a target of $400 billion worth of merchandise exports in the current financial year (FY22). India has met nearly a third of its annual target in the first four months of FY22.

“At present, our exports are about 20% of GDP. Considering the size of our economy, our potential, the base of our manufacturing and service industry, it has the potential to grow a lot,” said PM Modi.

Read more here.

Bank of Baroda Q1 Results: Net profit at Rs 1,208 crore

Bank of Baroda reported a standalone net profit of Rs 1,208 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 864 crore in the corresponding quarter last year (Q1 FY21). Net interest income (NII) increased by 15.7% YoY to Rs 7,892 crore in Q1 FY22. The gross non-performing assets (GNPA) ratio stayed flat at Rs 8.86% compared to the previous quarter. Bank of Baroda’s provisions fell 23% YoY to Rs 5,349 crore in the April-June quarter of FY22.

Read more here.

Johnson & Johnson’s Covid-19 vaccine gets approval for emergency use in India

Global healthcare major Johnson & Johnson (J&J) has received Emergency Use Authorisation (EUA) for its single-dose Covid-19 vaccine in India. The vaccine will be brought to our country through a supply agreement with homegrown vaccine marker Biological E Limited. Studies have shown that J&J’s vaccine is 66% effective in preventing cases of moderate-to-severe illness and 85% effective against severe cases of Covid-19.

Read more here.

Affle India Q1 Results: Net profit rises 90% YoY to Rs 35 crore

Affle (India) Ltd reported a 90.3% YoY increase in consolidated net profit to Rs 35.72 crore for the quarter ended June (Q1 FY22). Net profit has declined by 38.9% when compared to the previous quarter. Its revenue from operations rose 69.85% YoY to Rs 152.47 crore during the same period. Affle (India) is a leading provider of mobile advertising services through information technology and software development services.

Power Mech Projects: Net profit declined by 12% QoQ to Rs 31 crore

Power Mech Projects Ltd reported an 11.86% quarter-on-quarter (QoQ) decline in consolidated net profit to Rs 31.43 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 32.6 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 17.35% QoQ (but increased by 126.8% YoY) to Rs 628.05 crore during the same period. 

Amber Enterprises Q1 Results: Net profit falls 83% QoQ to Rs 12 crore

Amber Enterprises India Ltd reported an 83.5% QoQ decline in consolidated net profit to Rs 12.42 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 22.4 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 55.5% QoQ (but increased by 172.4% YoY) to Rs 715.02 crore during the same period. Amber Enterprises provides solutions to air conditioner original equipment manufacturers (OEMs) and original design manufacturers (ODMs) in India.

Quick Heal Technologies Q1 Results: Net profit falls 75% YoY to Rs 6.18 crore

Quick Heal Technologies Ltd reported a 75.23% YoY decline in consolidated net profit to Rs 6.18 crore for the quarter ended June (Q1 FY22). Net profit has declined by 84.44% when compared to the previous quarter. Its total income fell 23.5% YoY (or 45% QoQ) to Rs 61.03 crore during the same period. Pune-based Quick Heal Tech is a leading IT security solutions company.

DCB Bank Q1 Results: Net profit falls 57% YoY to Rs 33 crore

DCB Bank reported a 57.4% YoY decline in consolidated net profit to Rs 33.76 crore for the quarter ended June (Q1 FY22). Net profit has declined by 56.7% when compared to the previous quarter. Its total income rose 1.5% YoY to Rs 965.67 crore during the same period. The gross non-performing assets (GNPA) ratio increased to 4.87% in Q1 FY22, compared to 2.44% in Q1 FY21 and 4.09% in Q4 FY21. Provisions for bad loans stood at Rs 155.54 crore in the April-June quarter of FY22, up 85% YoY.

Read more here.

Dodla Dairy Q1 Results: Net profit rises 12% YoY to Rs 36 crore

Dodla Dairy Ltd reported an 11.9% YoY increase in consolidated net profit to Rs 36.07 crore for the quarter ended June (Q1 FY22). Net profit has jumped 276.5% when compared to the previous quarter. Its total income rose 12.8% YoY to Rs 514.65 crore during the same period. Dodla Dairy is an integrated dairy company based in South India. It produces and sells milk, ghee, flavoured milk, curd, etc.