Tag: Bank Nifty

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Daily Market Feed Pre Market Report

Global Markets Rally Up! NIFTY at Important Resistance – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,120 with a gap-up of 130 points. The index continued the up move to 19,175 levels, took resistance there, gave a sharp fall of more than 110 points to 19,065 levels, and moved back up. Nifty closed at 19,133, up by 144 points or 0.76%.

BANK NIFTY started the day at 43,018 with a big gap-up of 317 points. The index moved up with a lot of strength to the resistance zone of 43,300 levels and fell 500 points. It recovered slowly. BNF closed at 43,017, up by 316 points or 0.74%.

U.S. markets closed in the green(+1.7%). The European markets also closed in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in slight green(+0.13%).

GIFT NIFTY is trading in green at 19,354.

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

NIFTY has supports at 19,055, 19,000 and 18,930. We can expect resistances at 19,175, 19,230 and 19,310.

BANK NIFTY has supports at 42,810, 42,640 and 42,450. Resistances are at 43,100, 43,260 and 43,390.

Foreign Institutional Investors net–sold shares worth Rs 1,260 crores. Domestic Institutional Investors net-bought worth Rs 1,381 crores.

INDIA VIX fell to 11.07.

The market had an interesting day for the NIFTY expiry. After a gap-up, the market shot up then crashed and recovered.

Although there was good volatility in NIFTY, the moves were crazy in BANK NIFTY.

Coming back to the market levels, BANK NIFTY took resistance at its 200-day EMA yesterday. Both indices still have major levels in front of them to clear.

NIFTY has an important level at 19,230. BANK NIFTY has 43,360. These levels could get broken today with a gap-up and moves.

Reliance is reaching its 200-day EMA level.

HDFC Bank did not show much bullishness after disbursing a loan of Rs 2,000 crore to Vodafone Idea (Vi). Meanwhile, Vi was up 8%. I feel this shouldn’t be a problem for the bank, and it will bounce back soon.

Behind global markets’ bullishness, there is the U.S. treasury yield falling after the Fed announcement. Dow Jones is reaching a 1-month high.

Auto stocks are also positive with amazing Tata Motors results and auto sales numbers.

Hope you have a good Friday trade today!

We will be entering fresh NIFTY Trades today. You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Flat Nifty Expiry After Surprise Gap Up! – Post-Market Analysis

NIFTY started the day at 19,120 with a gap-up of 130 points. The index continued the up move to 19,175 levels, took resistance there, gave a sharp fall of more than 110 points to 19,065 levels, and moved back up. Nifty closed at 19,133, up by 144 points or 0.76%.

Nifty chart November 2 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,018 with a big gap-up of 317 points. The index moved up with a lot of strength till the resistance zone of 43,300 levels. Then, it gave a sharp fall of more than 475 points to 43,250 levels, took support, and moved up slowly. BNF closed at 43,017, up by 316 points or 0.74%.

Bank Nifty chart November 2 - post-market analysis | marketfeed

All indices closed in green. Nifty PSU Bank (+1.5%) and Nifty Metal (+1.4%) moved up the most.

Major Asian markets closed mixed (Japan’s Nikkei rose 1.1%). European markets are currently trading up to 2.5% in the green.

Today’s Moves

Britannia Industries (+2.96%) was NIFTY50’s top gainer. The company’s Q2 results beat street estimates.

Triveni Turbine (+9.15%) surged after the company reported its highest-ever revenue and EBITDA in Q2 FY24.

Vodafone Idea (+7.42%) moved up after HDFC Bank extended a loan of ₹2,000 crore to help the telco address its pending license fees and fulfil 5G spectrum payment commitments.

Hero MotoCorp (-1.3%) was NIFTY50’s top loser. Profit booking kicked in after the two-wheeler manufacturer reported strong sales data and Q2 numbers.

Shares of Syrma SGS (-12.24%) fell sharply after the company reported weak July-September quarter (Q2) results.

Markets Ahead

When markets opened with a big gap today, it trapped all options sellers from yesterday.  When such gaps are formed, and sellers are trapped, we ideally see a short covering rally on the upside. But after a small up-move, the major indices took resistance, gave a sharp fall, and consolidated. So, there is indecision in the markets, which we can also understand from today’s closing candle.

Nifty: The immediate support for the index is near the 19,100 level. If Nifty breaches that level, it could fall and test 19,050 and 19,000 eventually. Meanwhile, the major resistance to watch out for is 19,175 levels (today’s high). If that is taken out, we can expect targets of 19,200 and 19,250.

Bank Nifty: The immediate support to watch out for is near 42,800 levels. A breakdown from there can give us targets of 42,400 and 42,200. On the other hand, the immediate resistance is near 43,100 levels. A breakout from there might give us targets of 43,300 and 43,500.

Yesterday, the US Federal Open Market Committee (FOMC) held interest rates steady at a 22-year high of 5.25-5.50% for the second time in a row. The US economy remains resilient despite high interest rates, while inflation still remains above the US Federal Reserve’s 2% target level. Meanwhile, the Bank of England holds rates at 5.25% and rules out quick rate cuts to help its economy.

It was a confusing and volatile expiry for Nifty! We hope you managed your positions well! Let us know how the weekly expiry went in the comments below!

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Daily Market Feed Pre Market Report

Interest Rate Unchanged. Bullish Day in NIFTY? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,064 with a small gap-down of 15 points. After opening, the index fell more than 120 points intraday in a channel pattern. Nifty closed at 18,989, down by 90 points or 0.47%.

BANK NIFTY (BNF) started the day at 42,694 with a gap-down of 150 points. Throughout the day, the index consolidated in a 180-point range between 42,600 and 42,780 levels. BNF closed at 42,700, down by 145 points or 0.34%.

U.S. markets closed in the green(+0.67%). The European markets also closed in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in slight green(+0.11%).

GIFT NIFTY is trading in green at 19,215.

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

NIFTY has supports at 19,000, 18,930 and 18,850. We can expect resistances at 19,055, 19,150 and 19,230.

BANK NIFTY has supports at 42,640, 42,450 and 42,270. Resistances are at 42,815, 43,100, 43,260 and 43,390.

In NIFTY, the option chain is indicating a range of 18,800-19,100 for today’s expiry. Put to call ratio is 0.68, indicating bearishness.

Foreign Institutional Investors net–sold shares worth Rs 1,816 crores. Domestic Institutional Investors net-bought worth Rs 1,622 crores.

INDIA VIX is slightly higher at 12.04.

The volatility in the U.S. markets continued with the U.S. Federal Reserve’s interest rate decision yesterday.

Fed Chair kept the interest rate unchanged at the 22-year high. This prompted market to move up.

There is a high call OI interest at the 19,100 for NIFTY. This means two things; it could be a tough level to break, and that once it is broken it could give a good upside move.

BANK NIFTY has its 200-day EMA at 43,350 at Monday’s high. This will be an important resistance zone for the index.

GST collections are at the second-highest ever at Rs 1.72 lakh crore in October, up 13% YoY.

As I said yesterday too, it is the beginning of the month, so watch out for economic data including auto sales. 

Let us see if bulls can give a proper breakout! Hope you have a good NIFTY expiry today!

You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Bearishness Continues. Trending Weekly Expiry For Nifty? – Post-Market Analysis

nifty post-market analysis | marketfeed

NIFTY started the day at 19,064 with a small gap-down of 15 points. After opening, the index fell more than 120 points intraday in a channel pattern. Nifty closed at 18,989, down by 90 points or 0.47%.

Nifty chart November 1 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 42,694 with a gap-down of 150 points. Throughout the day, the index consolidated in a 180-point range between 42,600 and 42,780 levels. BNF closed at 42,700, down by 145 points or 0.34%.

Bank Nifty chart November 1 - post-market analysis | marketfeed

All indices except Nifty Realty (+1.5%), Nifty Media (+0.88%), Nifty Pharma (+0.35%), and Nifty PSU Bank (+0.32%) closed in the red. Nifty Metal (-1.4%) fell the most.

Major Asian markets closed flat-to-green (Japan’s Nikkei rose 2.4%). European markets are currently trading mixed.

Today’s Moves

Sun Pharma (+2.54%) was NIFTY50’s top gainer. The company posted a 5% year-on-year (YoY) rise in net profit to ₹2,375.51 crore in Q2; beating estimates.

Shares of Blue Star (+5.6%) moved up after the company reported robust Q2 results, aided by a strong order book and a rise in demand for air conditioners.

Vodafone Idea (+8.02%) hit a 21-month high of ₹13.54 on hopes of equity infusion by December.

Adani Enterprises (-3.3%) was NIFTY50’s top loser. 

Jindal Steel (-7.69%) fell sharply despite posting good Q2 results yesterday.

Markets Ahead

As discussed yesterday, the rise in India Vix, overall selling pressure, and rejection from Fibonacci levels, along with a flat opening, pulled the markets down.

Nifty: The immediate resistance to watch out for in Nifty is 19,030. The index has important support at 18,940 levels. If the index breaches the resistance on the upside, the index could move up to 19,100 and 19,140 levels. But if there’s a flat opening tomorrow and the movement continues, 18,940 may be the first target, followed by 18,850 levels.

Bank Nifty: The index is now in a clear range. A breakout from this range of 42,760 might take the index up to 43,000 and 43,350 levels. Meanwhile, a breakdown from 42,600 may take the index down to 42,400 and 42,150.

As it was the weekly Bank Nifty expiry today, option sellers would’ve found it quite easy since the index consolidated. Option scalpers also had decent opportunities as the index was volatile within a range.

Meanwhile, RBI governor Shaktikanta Das said that GDP growth for the second quarter of FY24 is likely to surpass expectations based on early indicators. RBI had projected a GDP growth of 6.5% for Q2, which aligns with the full-year growth forecast for FY24.

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Daily Market Feed Pre Market Report

Fed Interest Rate Decision & BANKNIFTY Levels! – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,232 with a gap-up of 92 points. There was an immediate sell-off till the previous swing or support zones of 19,100. Then, Nifty consolidated with a bit of volatility and gave a negative closing at 19,079, down by 61 points or 0.32%.

BANK NIFTY started the day at 43,356 with a gap-up of 317 points. It quickly came under selling pressure and fell to yesterday’s breakout levels of 42,800. Then, the index tried moving up but could not give a breakout. BANK NIFTY closed at 42,845, down by 193 points or 0.45%.

U.S. markets closed in the green(+0.4%). The European markets also closed in the green.

What to Expect Today?

Asian markets are mostly trading in the green.

The U.S. Futures are trading in slight red(-0.19%).

GIFT NIFTY is trading flat at 19,131.

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

NIFTY has supports at 19,055, 19,000 and 18,930. We can expect resistances at 19,150, 19,230 and 19,310.

BANK NIFTY has supports at 42,810, 42,450 and 42,270. Resistances are at 43,100, 43,260 and 43,390.

In NIFTY, the option chain is indicating a range of 19,000-19,200 for Thursday expiry. Put to call ratio is 0.76, indicating bearishness.

In BANK NIFTY, the option chain is indicating a range of 42,500-43,000 for today’s expiry. Put to call ratio is at 0.85, indicating bearishness.

Foreign Institutional Investors net–sold shares worth Rs 696 crores. Domestic Institutional Investors net-bought worth Rs 340 crores.

INDIA VIX is slightly higher at 11.82.

U.S. markets were volatile yesterday, with a fall initially and closing in the green. This volatility is ahead of the Federal Reserve interest rate decision tonight.

The expectation is for interest rates to remain flat, but traders will be more interested to hear from Fed Chair Jerome Powell what the future holds.

FINNIFTY expiry was calm, if you keep aside the first 15 minutes. The hope from BANK NIFTY is the same today.

BANK NIFTY has some strong levels to watch out for, especially on the call side. Put sellers are also looking to make sure 42,500 is protected. 

Meanwhile, for Reliance, India has hiked windfall tax on petroleum crude to Rs 9,800/ton from Rs 9,050/ton with effect from today. Have a watch out if weakness is seen.

It is also the beginning of the month, so watch out for economic data including auto sales starting today. 

Hope you have a good BANK NIFTY expiry today!

You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Rejection from the Top! More Fall Incoming? – Post-Market Analysis

NIFTY started the day at 19,232 with a gap-up of 92 points. There was an immediate sell-off till the previous swing or support zones of 19,100. Then, Nifty consolidated with a bit of volatility and gave a negative closing at 19,079, down by 61 points or 0.32%.

Nifty chart October 31 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,356 with a gap-up of 317 points (near the 50% Fibonacci rejection levels). It quickly came under selling pressure and fell to yesterday’s breakout levels of 42,800. Then, the index tried moving up but 43,000 round levels acted as resistance and pushed the index down. BNF closed at 42,845, down by 193 points or 0.45%.

Bank Nifty chart October 31 - post-market analysis | marketfeed

All indices except Nifty Realty (+1.27%), Nifty Media (+0.91%), Nifty FMCG (+0.19%), and Nifty PSU Bank (+0.14%) closed in the red.

Major Asian markets closed mixed. European markets are currently trading up to 1.4% in the green.

Today’s Moves

SBI Life (+3.14%) was NIFTY50’s top gainer. The stock has been moving up after the company reported strong Q2 earnings; a 45% YoY rise in its net profit and a 19% growth in net premium income.

FACT (+10%) surged on the back of long volumes.

Piramal Pharma (+9.48%) rallied up to 13% on positive guidance for the second half of FY24.

Mahindra & Mahindra (-2.62%) was NIFTY50’s top loser. Shares of the company’s subsidiary, M&M Financial Services, have tanked on the back of poor Q2 results.

DCM Shriram (-4.8%) fell sharply after the company posted weak Q2 results today.

Shares of Butterfly Gandhimathi (-7.04%) fell after public shareholders of the company voted against its merger with Crompton Greaves Consumer Electricals.

Markets Ahead

As discussed earlier, major indices are taking proper rejection from Fibonacci levels. The rise in India Vix and selling pressure from the top is indicating some bearishness in the markets. So even if today’s lows are breached, markets can fall further. The up-move in the last two trading sessions (Friday and Monday) can be considered a retracement.

Nifty: The immediate support for the index is near 19,075 (where the markets closed today). If there’s a flat or gap down opening, the index could move down— giving us targets of 19,000 and 18,940 again. On the other hand, the important resistance to watch out for will be today’s high of 19,250. If the index crosses 19,150, we can expect Nifty to test 19,250 again.

Bank Nifty: The index is looking weak. BNF is currently at yesterday’s breakout levels of 42,800. If there is a flat or gap down opening tomorrow, BNF could achieve targets of 42,400 and 42,200 on the downside. If the resistance at 43,075 is taken out, 43,300 can be tested again.

Markets are facing rejections at the top. The rise in India Vix also indicates the markets to be bearish. So you could look for sell-on-rise opportunities, which will be ideal till major resistance zones are breached in Nifty and Bank Nifty.

How was FIN NIFTY expiry? Are you in net profit or loss? Let us know in the comments section!

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Daily Market Feed Pre Market Report

Bulls Take Control Again! Flat Opening Loading? – Pre-Market Analysis Report

post-market analysis | marketfeed

What Happened Yesterday?

NIFTY started the day flat at 19,053. Right after opening, the index came crashing down till Friday’s low— a fall of nearly 145 points. It recovered nearly 220 points from the day’s low. Nifty closed at 19,140, up by 93 points or 0.49%.

BANK NIFTY started the day at 42,721 with a small gap-down of 60 points. After falling 420 points initially till Friday’s close, the index recovered 720 points— touching a high of 43,110 levels. BANK NIFTY closed at 42,782, up by 501 points or 1.19%.

U.S. markets closed in the good green(+1.5%). The European markets closed in the green.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading in slight red(-0.15%).

GIFT NIFTY is trading flat at 19,208.

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

NIFTY has supports at 19,100, 19,055, and 19,000. We can expect resistances at 19,230, 19,310 and 19,366.

BANK NIFTY has supports at 42,810, 42,450 and 42,270. Resistances are at 43,100, 43,260 and 43,390.

FINNIFTY has supports at 19,230, 19,150 and 19,090. Resistances are at 19,320, 19,400 and 19,450.

Foreign Institutional Investors net–sold shares worth Rs 1,761 crores. Domestic Institutional Investors net-bought worth Rs 1,328 crores.

INDIA VIX is at 11.49.

Short covering triggered most of the moves in our market yesterday. Despite moving down initially, Friday’s low was taken as support and a big move was seen back up.

Reliance pushed the market up, contributing a good chunk of move in NIFTY. HDFC Bank also tried moving up. Despite this, both stocks are still under their 200-day EMAs.

The U.S. markets are up 1-1.5% but GIFT NIFTY has not reacted yet. Since Asian markets are all in the red, and our markets moved up yesterday, there might not be a big opening movement.

Today is the FINNIFTY expiry and I have shared the levels I will be watching above. Hoping that it will be consolidation after multiple weeks of volatile expiries. PCR values indicate bulls are more confident, and that the market might hold its shape.

Once FINNIFTY enters the consolidation zone(draw a rectangle in daily charts), there could be smaller movements from there.

In other news, Chris Wood, Global Head of Equity Strategy at Jefferies, has warned that a 25% market correction looms If BJP loses in 2024.

But for now, anyway, put sellers have regained some confidence and the market is moving up! The question is will FINNIFTY support it today!

You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Recovery Seen in Nifty and Bank Nifty! – Post-Market Analysis

NIFTY started the day flat at 19,053. Right after opening, the index came crashing down till Friday’s low— a fall of nearly 145 points. After taking support at 18,940, the index bounced back/moved up with strength to 19,160 levels. It recovered nearly 220 points from the day’s low. Nifty closed at 19,140, up by 93 points or 0.49%.

Nifty chart October 30 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 42,721.40 with a small gap-down of 60 points. After falling 420 points initially till the previous day’s close, the index recovered 720 points— touching a high of 43,110 levels. BNF closed at 43,039, up by 501 points or 1.19%.

Bank Nifty chart October 30 - post-market analysis | marketfeed

All indices except Nifty Auto (-0.9%) and Nifty FMCG (-0.42%) closed flat-to-green.

Major Asian markets closed mixed (Japan’s Nikkei fell 0.95%). European markets are currently trading in the green.

Today’s Moves

BPCL (+3.57%) was NIFTY50’s top gainer. The company reported a net profit of ₹8,243.55 crore for Q2 FY24 as marketing margins improved.

Shares of Vodafone Idea (+6.8%) rallied over 8% to a two-week high ahead of its quarterly earnings call. On Friday, the telco said it will make significant investments to roll out 5G network and expand 4G coverage.

Supreme Industries (+7.4%) reported strong Q2 financial performance.

UPL (-3.58%) was NIFTY50’s top loser. The company reported a net loss of ₹189 crore for Q2 and cut FY24 revenue & EBITDA guidance.

SBI Cards (-5.07%) fell sharply over 7% after most market analysts cut its FY24 earnings estimate. 

Markets Ahead

The Indian stock markets have been volatile lately. Today, we witnessed a sharp fall followed by a recovery. We can see that buyers are trying to support the markets, but there are major resistance levels ahead that have to be taken out for the markets to turn bullish again.

Nifty: The immediate resistance for Nifty is near 19,160 levels. If that is breached, the index may move up to the 19,240 resistance level. Meanwhile, a breakdown from the previous swing support of 19,090 could bring the index down to 19,000 and 18,950 levels, which would indicate major bearishness again.

Bank Nifty: The immediate resistance for BNF is near 43,050. A breakout from this level might take the index up to 43,350. On the other hand, the immediate support to watch out is near the previous swing of 42,900. A breakdown from there could bring the index back to 42,700 and 42,400.

Both indices are near their respective Fibonacci rejection levels. So if there’s a negative price action tomorrow, the index can turn bearish again. For a bullish reversal, 50% fib rejection levels of 43,350 in Bank Nifty and 19,350 in Nifty have to be crossed.

Market sentiment remains cautious in the short term, with investors closely monitoring geopolitical tensions in West Asia, upcoming corporate earnings, and key economic data, (including PMI figures for October).

How did trading in November go? Are you in net profit or loss?

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Daily Market Feed Pre Market Report

Reliance Results Impact! Market Ready to Move Up? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 18,928 with a gap-up of 71 points on Friday. The index continued to move up 150 points by crossing the key resistance of 19,000 round levels till Wednesday’s low of 19,080 levels. Nifty closed at 19,047, up by 190 points or 1.01%.

BANK NIFTY started the day at 42,555 with a gap-up of 275 points. BNF gradually continued the up-move till Wednesday’s closing levels of 42,840 levels— making a nearly 360-point intraday movement on the upside! BNF closed at 42,782, up by 501 points or 1.19%.

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

What to Expect Today?

Asian markets are trading mixed, but Japan is 1% in the red.

The U.S. Futures are trading in green(+0.33%).

GIFT NIFTY is trading flat at 19,094.

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

NIFTY has supports at 19,000, 18,830 and 18,745. We can expect resistances at 19,055, 19,110 and 19,230.

BANK NIFTY has supports at 42,270, 42,000 and 41,830. Resistances are at 42,810, 43,000 and 43,100.

Foreign Institutional Investors net–sold shares worth Rs 1,500 crores. Domestic Institutional Investors net-bought worth Rs 313 crores.

INDIA VIX is at 10.90.

The market showed good bullishness on Friday, with BANK NIFTY even closing at the day-high. The bears got a bit of shock as NIFTY crossed 19k once again.

Reliance results came out after the market hours on Friday. Net profit rises 30% YoY to Rs 19,878 crore despite a dip in O2C revenue. We will have to wait and watch how the stock opens today.

Today the level to watch out for in NIFTY will be 19,100 on the upper side. If NIFTY can break this in the first half, it would indicate that the bullishness from Friday is continuing.

PCR levels of NIFTY and BANK NIFTY are still bearish, but better than last week. 

Once Reliance impact is done today, the next thing to do would be the Fed Interest Rate decision on Wednesday.

The week is starting fresh today. Trade safe!

You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Nifty Finds Support, Reclaims 19,000! What Next? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 18,928 with a gap-up of 71 points (above the resistance level of 18,900). The index continued to move up 150 points by crossing the key resistance of 19,000 round levels till Wednesday’s low of 19,080 levels. Nifty closed at 19,047, up by 190 points or 1.01%.

Nifty chart October 27 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 42,555 with a gap-up of 275 points (above the 42,500 resistance zone). BNF gradually continued the up-move till Wednesday’s closing levels of 42,840 levels— making a nearly 360-point intraday movement on the upside! BNF closed at 42,782, up by 501 points or 1.19%.

Bank Nifty chart October 27 - post-market analysis | marketfeed

All major indices closed in the green. Nifty PSU Bank (+4.1%), Nifty Media (+2.58%), and Nifty Realty (+1.95%) moved up the most.

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

Today’s Moves

Axis Bank (+3.16%) was NIFTY50’s top gainer for the second day in a row. The lender reported robust Q2 FY24 results on Wednesday.

Jubilant Pharmova (+16.9%) surged on the back of strong volumes. The pharma company will post its Q2 results today.

Swan Energy (+12.2%) rallied up to 19% to hit a 52-week high. The company has completed the upfront payment for acquiring Reliance Naval & Engineering Ltd through the National Company Law Tribunal’s resolution plan.

Dr Reddy’s Labs (-0.45%) was NIFTY50’s top loser. 

Sterlite Tech (-9.25%) fell sharply after the company reported a 59% YoY decline in net profit to ₹28 crore in Q2.

Shares of Westlife Food (-6.7%) fell after the QSR operator posted mixed Q2 earnings.

Markets Ahead

After the continuous selling pressure over the last six trading days, the Indian markets retraced a bit today. Major indices moved back up from good support zones, but this doesn’t confirm or guarantee the change in the trend. It can just be a retracement, and markets can continue to fall in the upcoming days if yesterday’s low levels are breached!

Nifty: The index is currently taking resistance from the 23% Fibonacci retracement levels. The immediate resistance to watch out will be at 19,080 levels. A breakout from these levels can take Nifty up to 38% retracement levels at 19,250 and 50% retracement levels at 19,350. Meanwhile, the supports to watch out for are near 19,000 and 18,900 levels. A breakdown from there can take the index further down to 18,650 levels.

The trend can change only if Nifty crosses the 50% retracement level.

Bank Nifty: The index is also near its 23% fib retracement level of 43,100. That level can act as immediate resistance. On the other hand, 42,600 can act as immediate support and there’s a major support zone at 42,000 round levels. A breakdown from these support zones can take the index down to 40,800 in the coming weeks or months. But if the markets take support and move back up, 38% and 50% fib retracement levels of 43,700 and 44,200, respectively, can be the targets.

Bank Nifty has to cross 44,200 for a trend reversal or change. If not, the selling may continue.



How did this week go? Are you in net profit or loss? Let us know in the comment section below!

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Daily Market Feed Pre Market Report

NIFTY at Crucial Support. Can Reliance Results Help? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,027 with a gap-down of 95 points. Then, it fell sharply by 195 points to 18,850 levels. Post 11:30 AM, the index mostly consolidated in a nearly 70-point range. Nifty closed at 18,857, down by 264 points or 1.39%.

BANK NIFTY started the day at 42,708 with a gap-down of 124 points. Initially, the index crashed 610 points to 42,105. For the rest of the day, the index slowly tried to move up. BANK NIFTY closed at 42,280, down by 551 points or 1.29%.

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

What to Expect Today?

Asian markets are trading in the green, with Japan at 1.5% up.

The U.S. Futures are trading in green(+0.33%).

GIFT NIFTY is trading in red at 19,005.

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

NIFTY has supports at 18,830, 18,745 and 18,612. We can expect resistances at 19,000 19,055 and 19,110.

BANK NIFTY has supports at 42,270, 42,000 and 41,830. Resistances are at 42,454, 42,700 and 42,900.

Foreign Institutional Investors net–sold shares worth Rs -7,702 crores. Domestic Institutional Investors net-bought worth Rs 6,558 crores.

INDIA VIX is at 11.73.

NIFTY took near-perfect support at the 200-day EMA mark of 18,850 yesterday. Breaking 19k was nearly immediate yesterday.

For the monthly expiry week, NIFTY moved down nearly 4% from last Thursday. And today, we have some strength being shown by international markets.

U.S. GDP numbers came out well yesterday, with data showing that the US economy grew 4.9% in the third quarter. U.S. markets still faced some selling and are near a 6-month low.

Today, the general sentiment of the market is that there is an upward room till 19k mark from here. There is good support forming around the 200-day EMA mark and OI level of 18,800.

Reliance Industries’ result is coming out today, the largest company in India, and the last from major NIFTY 50 companies. The oil-to-chemicals business is expected to see muted growth. 

The moves of Reliance around this support zone for NIFTY will be crucial. But results will be announced only after market hours.

Watching NIFTY between the trading zones of 18,850 and 19,000 today. Trade safe!

We will be entering fresh trades today. You can check out our trades on marketfeed app or our website!

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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Daily Market Feed Post Market Analysis

Nifty Closes Below 19,000 On Monthly Expiry! – Post-Market Analysis

NIFTY started the day at 19,027 with a gap-down of 95 points.  Then, it fell sharply by 195 points to 18,850 levels. Post 11:30 AM, the index mostly consolidated in a nearly 70-point range. Nifty closed at 18,857, down by 264 points or 1.39%.

Nifty chart October 26 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 42,708 with a gap-down of 124 points.  Initially, the index crashed 610 points to 42,105. For the rest of the day, BNF traded in a 270-point zone (with a positive bias) to close at 42,280, down by 551 points or 1.29%.

Bank Nifty chart October 26 - post-market analysis | marketfeed

All major indices closed in the red. Nifty Metal (-1.6%), Nifty Auto (-1.59%), and FIN NIFTY (-1.57%) fell the most.

Major Asian markets closed in the red (Japan’s Nikkei fell 2.1%). European markets are currently trading up to 1% in the red.

Today’s Moves

Axis Bank (+1.7%) was NIFTY50’s top gainer. The lender reported a 10% YoY rise in net profit to ₹5,863 crore in Q2; beating street estimates.

Prism Johnson (+12.02%) jumped on the back of strong volumes.

Sonata Software (+8.2%) hit a 52-week high after the IT services provider announced its Q2 FY24 earnings.

Mahindra & Mahindra (-4.06%) was NIFTY50’s top loser. It fell amid huge selling pressure in auto stocks.

Bajaj Finance (-3.54%) and Bajaj Finserv (-3.16%) fell today. Bajaj Finserv Mutual Fund launched its banking and PSU fund today.

Delta Corp (-5.45%) fell sharply after yesterday’s strong up-move. The Bombay High Court provided interim relief to the company by retraining tax notices worth over ₹16,000 crore it received from the Directorate General of GST Intelligence (DGGI).

Markets Ahead

Nifty has fallen for the sixth straight session, its longest losing streak since February 2023! India VIX, a measure of market volatility, jumped by 10% on the monthly F&O  expiry day, signalling a sense of unease in our markets.

As long as Nifty stays below 19,000, we can expect bearish sentiments to continue, possibly reaching levels between 18,800 and 18,725. However, if the index manages to break through the 19,000 mark, there could be a small bounce back, potentially pushing it towards 19,100-19,150.

The Israel-Hamas conflict remains a significant challenge for geopolitical stability, which can impact global stock markets. Elevated US Treasury bond yields are also posing a major threat.

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