Tag: bank nifty expiry

What Happened Yesterday?

NIFTY started the day at 19,539 with a gap-down of 100+ points. The index fell a bit again but took support and shot up. But by the end of the day, most strength was lost and NIFTY closed at 19,512, down by 141 points or 0.72%.

BANK NIFTY started the day at 44,057 with a gap-down of 302 points. After opening, the index fell another 315 points to the support zones of 43,800 levels. There was a V-shaped recovery, but strength was lost towards closing. BANK NIFTY closed at 43,886, down by 474 points or 1.07%.

U.S. markets closed in green on Friday. The European markets closed in red.

What to Expect Today?

Asian markets are in good green.

The U.S. Futures are trading in green(+0.18%).

GIFT NIFTY is trading in red at 19,614.

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

NIFTY has supports at 19,490, 19,440 and 19,360. We can expect resistances at 19,580, 19,605 and 19,640.

BANK NIFTY has supports at 43,840, 43,680 and 43,500. Resistances are at 43,960, 44,100 and 44,280.

NIFTY has the highest call OI build-up at 19,800. The highest put OI buildup is at 19,500. PCR is neutral at 0.88.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI buildup is also at 44,000. PCR is bearish at 0.71.

Foreign Institutional Investors net–sold shares worth Rs -967 crores. Domestic Institutional Investors net-bought worth Rs 2,661 crores.

INDIA VIX is down to 11.40.

The market has factored in the war between Israel-Hamas, with Asian markets going up by 1-2% today.

American markets have also moved up after a gap-down opening. So unless there is any fresh news or a jump in crude oil prices, our market will not be affected.

Coming back to our markets, it is the start of the results season! And because of this, even after the market fall, NIFTY IT closed in the green.

TCS will be flagging off the Q2 results season for NIFTY 50 stocks tomorrow. Expect some volatility in major IT stocks for the week.

There will be good support at 19,500 as we can see from the put buildup. Meanwhile, BANK NIFTY is still confused and both the largest call and puts are at 44,000.

So in my opinion, the market should be regaining confidence and strength now that the effect of the news is factored in.

Let’s hope for a positive day in the market where even FINNIFTY can hold strong!

Watching the levels of 19,550 and 19,750 in FINNIFTY for the expiry today. Trade well!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

Last week, NIFTY started at 19,622 on Tuesday with a gap-down. There was a big dip on Wednesday, where the index touched its lowest since September 1st. Thursday and Friday were bullish and NIFTY closed at 19,653, up by +0.08% or up by 15 points in the week.

BANK NIFTY started the week at 44,561 and was generally weaker. Including Wednesday’s fall, 3 out of 4 day candles were in the red. Friday saw recovery and BANK NIFTY closed at 44,360, down by 0.42% or 189 points from last Friday.

U.S. markets closed in green on Friday. The European markets closed in green.

What to Expect Today?

Asian markets are mostly on holiday, others are trading mixed.

The U.S. Futures are trading in red(-0.5%).

GIFT NIFTY is trading in red at 19,640(-0.64%).

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

NIFTY has supports at 19,490, 19,440 and 19,360. We can expect resistances at 19,580, 19,605 and 19,640.

BANK NIFTY has supports at 44,120, 43,960 and 43,840. Resistances are at 44,280, 44,400 and 44,520.

NIFTY has the highest call OI build-up at 20,000. The highest put OI buildup is at 19,600. PCR is neutral at 0.99.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI buildup is at 44,300. PCR is bearish at 0.88.

Foreign Institutional Investors net–sold shares worth Rs -783 crores. Domestic Institutional Investors net-bought worth Rs 90 crores.

INDIA VIX is down to 10.30.

The war between Israel and Palestinian militants adds geopolitical risk to a market recovering from a recent fall.

This is definitely the headline topic for today as Dow Jones trades 0.5% in the red. The same gap-down is expected in NIFTY.

The RBI Monetary policy went according to expectations last week as there was no interest change. Hence there was good put selling in the market.

Now, the thing to be seen is, how weak NIFTY will be. Technically speaking, the direct impact on our economy in this war is much lower than the Russia-Ukraine war.

The hope was initially for a positive week following last Friday. Let’s see how the important supports are being respected today.

The hope is that since the impact on India is low, a knee-jerk reaction fall will be followed by a good recovery today and tomorrow.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day at 19,521 with a gap-up of 85 points. After some volatility till noon, NIFTY consolidated in a small range. NIFTY closed at 19,545, up by 109 points or 0.56%.

BANK NIFTY started the day at 44,181 with a gap-up of 217 points. After opening, the index fell gradually and then shot back up to fresh day-high. After this, it slowly fell and closed at 44,213, up by 249 points or 0.57%.

U.S. markets closed flat yesterday. The European markets closed mixed.

What to Expect Today?

Asian markets are mostly trading in the green, except Japan.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in green at 19,609.

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

NIFTY has supports at 19,490, 19,440 and 19,360. We can expect resistances at 19,580, 19,605 and 19,640.

BANK NIFTY has supports at 44,120, 43,960 and 43,840. Resistances are at 44,280, 44,400 and 44,520.

NIFTY has the highest call OI build-up at 19,600. The highest put OI buildup is at 19,500. PCR is bearish at 0.92.

Foreign Institutional Investors net–sold shares worth Rs 1,864 crores. Domestic Institutional Investors net-bought worth Rs 521 crores.

INDIA VIX is down to 10.94.

The market did get pulled into the level of 19,420 by yesterday’s opening but fell further. 

NIFTY showed much more strength than the rest of the market yesterday and closed with a small green candle.

The RBI Monetary Policy meeting is starting at 10 AM today. The expectation is that rates will be kept unchanged, following how the U.S. Fed has also moved.

There are no surprises expected in the meeting, but still, the market might be volatile around this time, so do keep an eye out for that!

BANK NIFTY is not showing good positivity based on yesterday’s chart. Hoping that it will help give a turnaround and power to the market.

The VIX falling sharply back to 10.9 regions is an indication that the fall might be over for now. Will be watching NIFTY for potential upsides today.

As the last day of the trading week, we can also get a glimpse of the expectations from the markets next week.

Hoping for a positive week where NIFTY touches 19,720!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day at 19,446 with a gap-down of 82 points. The index continued the fall till 19,375, gave a small retracement, and fell further to 19,330 levels. It then gave a strong rebound of nearly 115 points— reaching the day’s high of 19,460 levels. Nifty closed at 19,436, down by 92 points or 0.47%.

BANK NIFTY started the day at 44,108 with a gap-down of 290 points. After opening, the index fell to 43,900 levels— breaching the emotional and round level support of 44,000. Post 12 PM, the index mostly consolidated. BANK NIFTY closed at 43,964, down by 435 points or 0.98%.

U.S. markets closed slightly in the green yesterday. The European markets closed mixed.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in green at 19,501.

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

NIFTY has supports at 19,440, 19,360 and 19,310. We can expect resistances at 19,500, 19,560 and 19,640.

BANK NIFTY has supports at 43,960, 43,840 and 43,680. Resistances are at 44,150, 44,280 and 44,400.

NIFTY has the highest call OI build-up at 19,600. The highest put OI buildup is at 19,400. PCR is bearish at 0.85.

Foreign Institutional Investors net–sold shares worth Rs -4,424 crores. Domestic Institutional Investors net-bought worth Rs 1,769 crores.

INDIA VIX is at 11.65.

The market did get pulled into the level of 19,420 by yesterday’s opening but fell further. 

The interesting thing to note was how the day candle behaved. It was a doji candle with a strong lower wick which indicated buying in the dip. The index also managed to close just above our support level.

We will need support from the international markets to stop the fall around this zone.

We currently have only calls sold in the market for the NIFTY expiry today. Will be entering fresh Bank NIFTY positions.

There is a fresh expectation that the market will stay around this zone and take support today. Even though NIFTY fell yesterday, the number of puts sold in the market by the day-closing was higher.

For the expiry, expecting NIFTY to trade between 19,600 and 19,350. Let’s hope for a good trading day!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started yesterday flat at 19,622 and had a big fall of 140 points. Even though 19,500 was broken, there was a bounce back immediately. There was good consolidation for the rest of the day. NIFTY closed at 19,528, down by 109 points or 0.56%.

BANK NIFTY started the flat at 44,566 and fell 300 points in 15 minutes.  But after this fall, there was a good consolidation within a 170-point range. BANK NIFTY closed at 44,399, down by 185 points or 0.42%.

U.S. markets closed in the red yesterday. The European markets also closed in the red.

What to Expect Today?

Asian markets are trading in the red.

The U.S. Futures are trading in red.

GIFT NIFTY is trading slightly in red at 19,436.50.

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

NIFTY has supports at 19,500, 19,440 and 19,360. We can expect resistances at 19,560, 19,640 and 19,720

BANK NIFTY has supports at 44,280, 44,200 and 43,960. Resistances are at 44,600, 44,800 and 44,900.

NIFTY has the highest call OI build-up at 19,700. The highest put OI buildup is at 19,500. PCR is bearish at 0.74.

BANK NIFTY has the highest call OI build-up at 45,000 and 44,500. The highest put OI buildup is at 44,300. PCR is bearish at 0.75.

Foreign Institutional Investors net–sold shares worth Rs -2,034 crores. Domestic Institutional Investors net-bought worth Rs 1,361 crores.

INDIA VIX is at 11,78.

Last week’s low was tested by NIFTY yesterday, and the market quickly bounced back up. Even though there was no strength for a big rally, the market remained fairly calm after the initial fall.

October has started off with bearishness, and now the international markets are also looking to fall. Dow Jones closed 1.2% in the red, and this indicates a gap-down opening for us today.

If we are looking at the Fib retracement levels, the support level to watch out for is around 19,420. The market might get pulled into that with a gap-down.

We currently have only calls sold in the market, and depending on the premiums might sell calls more aggressively.

The market was expected to consolidate, but let’s see how much the gap-down affects it!

In BANK NIFTY, I will be watching out for 43,900 and 44,600.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day at 19,761 with a small gap-up. The index fell and tried to bounce back, but started falling again before bouncing up to hit the day-high. NIFTY gave a sharp fall of nearly 260 points and closed at 19,523, down by 192 points or 0.98%.

BANK NIFTY started the day at 44,700 with a gap-up of 110 points. Similar to NIFTY, BANK NIFTY also fell but bounced back to the day-high. But after this, the index gradually fell 500 points. BANK NIFTY closed at 44,300, down by 287 points or 0.64%.

U.S. markets closed in the green today. The European markets closed in the red.

What to Expect Today?

Asian markets are closed for a festival holiday.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in green at 19,659.

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

NIFTY has supports at 19,500, 19,440 and 19,360. We can expect resistances at 19,560, 19,640 and 19,720

BANK NIFTY has supports at 44,280, 44,200 and 43,960. Resistances are at 44,600, 44,800 and 44,900.

NIFTY has the highest call OI build-up at 19,700. The highest put OI buildup is at 19,500. PCR is bearish at 0.72.

Foreign Institutional Investors net–sold shares worth Rs -3,364 crores. Domestic Institutional Investors net-bought worth Rs 2,711 crores.

INDIA VIX increased sharply to 12.82, the highest since May.

After the good green candle on Wednesday, it was interesting to see how the monthly expiry will affect the market.

It was interesting to see NIFTY open with a gap-up and not break 19,800 on the upside. And once 19,600 was broken, a further fall was expected.

Now that the ‘crazy’ monthly expiry is done, it would be interesting to see how October turns out.

If we are looking at the Fib retracement levels, NIFTY has broken a lot of support levels. The support level to watch out for is around 19,420 and the next important resistance to look for is 19,720.

Even though we expected another trend, even this week’s trend was defined by how last Friday performed.

So let’s watch out for how the market turns out today to get a view of next week!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day flat at 19,682. The index consolidated within a 60-point range throughout the day between 19,640 and 19,700. NIFTY closed at 19,664, down by 9.85 points or 0.05%.

BANK NIFTY started the day flat at 44,722 with a small gap-down of 43 points. The index consolidated in a 130-point range with a bearish bias— moving in a channel. BANK NIFTY closed at 44,624, down by 141 points or 0.32%.

U.S. markets closed well in the red today. The European markets closed in red.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading in the green(+0.17%).

GIFT NIFTY is trading flat at 19,609.

All the factors combined indicate a flat opening in the market.

NIFTY has supports at 19,640, 19,560, 19,500. We can expect resistances at 19,780, 19,870 and 19,950.

BANK NIFTY has supports at 44,600, 44,520 and 44,280. Resistances are at 44,800, 44,900 and 45,100.

NIFTY has the highest call OI build-up at 19,800. The highest put OI buildup is at 19,600. PCR is bearish at 0.82.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,000. PCR is bearish at 0.75.

Foreign Institutional Investors net–sold shares worth Rs -693 crores. Domestic Institutional Investors net-bought worth Rs 714 crores.

INDIA VIX increased slightly to 11.18.

It was a day of high consolidation yesterday, with FINNIFTY giving a lot of profits for non-directional traders.

And NIFTY has closed flat with indecision for the second day. The index has managed to hold on and consolidate around the same level once again.

Even though the U.S. markets fell 1% yesterday, Asian markets have not fallen much and GIFT NIFTY is also flat. So our expectation will be a flat opening.

PCR is still bearish and indicates that the market has some downside potential. We will have to watch for Monday’s high and low to make informed decisions regarding the trend. 

Do remember that today is not the BANK NIFTY expiry, it is tomorrow. For the monthly expiries, both NIFTY and BANK NIFTY continue to have Thursday expiries.

And the volatility that usually arrives with a monthly expiry can be expected and watched out for today and tomorrow!

Meanwhile, keep an eye on the U.S. VIX chart, which has moved up 50% in the last 10 days. VIX usually rises like this around a good market fall.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day flat at 19,678 and fell sharply to 19,600. It then moved up by 130 points to 19,730 levels to make a double top. After the volatility, NIFTY came back to the opening levels and closed at 19,674, up by 0.3 points or 0.00%.

BANK NIFTY started the day flat at 44,615. The index gave multiple swings of more than 300 points, including showing bullishness around noon. BANK NIFTY closed at 44,766, up by 154 points or 0.35%.

U.S. markets closed recovered and closed in the green on Friday. The European markets closed in the red.

What to Expect Today?

Asian markets are trading in the red.

The U.S. Futures are trading in the red(-0.33%).

GIFT NIFTY is trading in the red at 19,656.

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

NIFTY has supports at 19,640, 19,560, 19,500. We can expect resistances at 19,780, 19,870 and 19,950.

BANK NIFTY has supports at 44,600, 44,520 and 44,280. Resistances are at 44,800, 44,900 and 45,100.

NIFTY has the highest call OI build-up at 19,800. The highest put OI buildup is at 19,500. PCR is bearish at 0.81.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,000, 44,500 and 44,700. PCR is bearish at 0.81.

FINNIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,600. PCR is bearish at 0.84.

Foreign Institutional Investors net–sold shares worth Rs 2,333 crores. Domestic Institutional Investors net-bought worth Rs 1,579 crores.

INDIA VIX increased slightly to 10.90.

BAJAJ Twins gained on the news that Bajaj Finance is going to raise ₹8,200 crores. If not for their rally, NIFTY would have ended in the red yesterday.

The fall in HDFC Bank had been paused for yesterday, and we saw consolidation. Today’s trend in the stock will be crucial for the FINNIFTY expiry.

Again, Friday’s indication was that this week might continue to be bearish. And the current strategies on the marketfeed app are also expecting the same.

There was no good put selling yesterday as we expected, and PCR is still bearish.

Yesterday’s candle was a perfect indecision candle in NIFTY and green candles in BANK NIFTY and FINNIFTY. I will be watching the low and high of yesterday’s Doji candle to understand a trend in the market.

And if the market stabilises and moves up from here, will be selling some puts to follow the trend!

For the FINNIFTY expiry, watch out for a strong support at 19,600 with a resistance being expected at 19,800!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day flat at 19,744. The index was highly volatile in a 140-point range throughout the day. After failing to break the 19,800 resistance twice, the index fell back to the day low by closing. NIFTY closed at 19,742, down by 68 points or 0.34%.

BANK NIFTY started the day at 44,707 with a gap-up of 83 points. It tried moving up but took rejection at 45,000 and fell. It again gave a bounce to the day’s high, but eventually fell again to Thursday’s low. BANK NIFTY closed at 44,612, down by 11 points or 0.03%.

U.S. markets closed in the red on Friday. The European markets closed flat.

What to Expect Today?

Asian markets are trading mixed.

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

GIFT NIFTY is trading in the green at 19,700.

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

NIFTY has supports at 19,640, 19,560, 19,500. We can expect resistances at 19,780, 19,870 and 19,950.

BANK NIFTY has supports at 44,600, 44,520 and 44,280. Resistances are at 44,800, 44,900 and 45,100.

NIFTY has the highest call OI build-up at 19,800. The highest put OI buildup is at 19,700. PCR is bearish at 0.81.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500. PCR is bearish at 0.69.

FINNIFTY has the highest call OI build-up at 20,000 and 20,100. The highest put OI build-up is at 19,400 and 19,600. PCR is bearish at 0.57.

Last week, Foreign Institutional Investors net–sold shares worth Rs 8,681 crores. Domestic Institutional Investors net-bought worth Rs 1,940 crores.

INDIA VIX decreased to 10.66.

HDFC BANK in the last week alone has fallen by 8%, and pulled down NIFTY by a lot. Reliance had also broken a trendline and moved down a bit.

Interestingly, NIFTY has by now given up more than 50% gains from the recent rally of September.

Friday indicated that this week might continue to be bearish. But let’s keep hope that this will turn around.

Markets have fallen by quite a bit in the week of the Fed Interest rate decision. And now would be a good time to stabilise.

Although the general market sentiment is bearish, expecting NIFTY to cool down from the recent fall.

The PCR values are indicating bearishness across the market, and more puts will have to be sold today at opening for our view to work. 

HDFC Bank will also have to cooperate with the rest of the market, as it is currently at its lowest since November 2022.

If BANK NIFTY and NIFTY break Friday’s lows after today’s gap-up, then it could once again be a hunting ground for bears. So let’s hope the market stabilises from here!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day at 19,840 with a gap-down of 60 points.  After opening, the index fell more than 100 points. It then tried moving up but then consolidated within a 60-point zone. Nifty closed at 19,742, down by 159 points or 0.8%.

BANK NIFTY started the day at 45,179 with a gap-down of 205 points. After an initial attempt to recover, the index continued to move down throughout the day— falling nearly 680 points. BANK NIFTY closed at 44,623, down by 760 points or 1.68%.

U.S. markets closed well in the red on Friday. The European markets also closed in the red.

What to Expect Today?

Asian markets are trading mixed..

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

GIFT NIFTY is trading in the green at 19,720.

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

NIFTY has supports at 19,640, 19,560, 19,500. We can expect resistances at 19,870, 19,950 and 20,035.

BANK NIFTY has supports at 44,600, 44,520 and 44,280. Resistances are at 44,800, 44,900 and 45,100.

For next week, 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 0.70.

Foreign Institutional Investors net-sold shares worth Rs 3,007 crores. Domestic Institutional Investors net-bought worth Rs 1,158 crores.

INDIA VIX decreased to 10.81.

Markets fell heavily once again yesterday, dragged down by financial stocks. In the 3 trading days of this week, BANK NIFTY has fell more than 1600 points.

Interestingly, NIFTY took support at an important Fibonacci level. If you plot a graph from the base of NIFTY’s rally to its top, the current fall has wiped out 50% of the rally.

And this is an important level to watch out for, which is yesterday’s low.

As we are seeing right now, there is a chance for a gap-up in the market with U.S. Futures in the green along with GIFT NIFTY. 

With the opening strength, and the support at yesterday’s low, today is the chance for NIFTY to stabilise.

As we have been observing, the trend deciding day for next week is usually Friday. So if the market keeps on falling today, the outlook would turn bearish.

IT stocks have been preventing the market from moving down, and today is BANK NIFTY’s chance.

For this to happen, both HDFC Bank and ICICI Bank would need good trend reversals which is not going to be easy.

Let’s see how the Friday goes so that we can watch and analyse for next week!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!

What Happened Yesterday?

NIFTY started the day at 19,980 with a gap-down of 152 points. It initially tried to move up, but 20,050 levels acted as good resistance. The index fell throughout the day. NIFTY closed at 19,901, down by 231 points or 1.15%.

BANK NIFTY started the day at 45,493 with a huge gap-down of 486 points. After opening, the index recovered nearly 300 points to 45,750 levels. But selling pressure kicked in, and the index fell nearly 470 points from the day’s high. BANK NIFTY closed at 45,384, down by 595 points or 1.29%.

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

What to Expect Today?

Asian markets are trading in the red..

The U.S. Futures are trading in the red.

GIFT NIFTY is trading in red at 19,841.

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

NIFTY has supports at 19,860, 19,780 and 19,720. We can expect resistances at 19,920, 20,035 and 20,140.

BANK NIFTY has supports at 45,230, 45,100 and 44,900. Resistances are at 45,470, 45,635 and 45,835.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,900. PCR is highly bearish at 0.59.

For next week, BANK NIFTY has the highest call OI build-up at 45,500. The highest put OI build-up is also at 45,500. PCR is at 0.77.

Foreign Institutional Investors net-sold shares worth Rs 3,110 crores. Domestic Institutional Investors also net-sold worth Rs 573 crores.

INDIA VIX increased to 11.12.

Federal Reserve kept interest rates unchanged, giving the market some strength. But the comments also said that the hikes throughout 2024 will be higher than earlier expected.

As expected, the first two trading days of the week have shown weakness. With the Fed Reserve news, at least the markets won’t crash down.

Asian markets are weak and all are more than 1% in the red. Hence we can expect a gap-down in the market. But still, there are some good levels to watch out for.

It is the weekly expiry for NIFTY today, and some volatility is to be expected. 19,900 is a good support level to watch out for. 

HDFC Bank is at an important support level in the daily charts. Reliance has broken a good bullish trendline and moved down.

Let us hope it is a good trading day in the market!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades for the week. You can check out 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!