Tag: Bank Nifty

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Daily Market Feed Pre Market Report

Monthly Expiry Today! Levels to Watch after Gap-Down? – Pre-Market Analysis Report

What Happened Yesterday?

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. The index consolidated post 1:30 PM and closed at 19,122, down by 159 points or 0.83%.

BANK NIFTY 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%.

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

What to Expect Today?

Asian markets are trading in the red, with Japan and Korea 2% down.

The U.S. Futures are trading in red(-0.20%).

GIFT NIFTY is trading in red at 19,023.

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

NIFTY has supports at 19,055, 19,000 and 18,900. We can expect resistances at 19,230, 19,310 and 19,370.

BANK NIFTY has supports at 42,815, 42,650 and 42,450. Resistances are at 43,000m 43,100 and 43,260.

For NIFTY, the highest call OI Buildup is at 19,500 and the highest put OI buildup is at 19,000. PCR is at 0.55.

For BANK NIFTY, the highest call OI Buildup is at 43,000 and the highest put OI buildup is at 42,000. PCR is at 0.48.

Foreign Institutional Investors net–sold shares worth Rs 4,236 crores. Domestic Institutional Investors net-bought worth Rs 3,569.36 crores.

INDIA VIX is at 11.31.

It has been two days of back-to-back fall in the market, with NIFTY breaking the important 3-month low of 19,230. 

With today being the monthly expiry, you can expect some more volatility. The current expectation is definitely that there would be more downside till 19,000 in NIFTY.

NIFTY was in a crazy bull rally during July when it was in this zone. So the support levels have a lot of gaps between them. Falls and bounces might be quick, so keep that in mind!

Axis Bank reported a net profit of Rs 5864 crore for the July-September FY24 quarter, a 10% YoY jump and better than street estimates. Meanwhile, TechM profits fell heavily to 62% YoY.

The Asian markets are continuing to move down after opening in red. With this expectation of a gap-down, how NIFTY behaves at 19,000 will be crucial. If that level is broken, the nearby major support will be the 200-day EMA at 18,850.

Let us see what the monthly expiry holds! 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

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

Recovery Day for the Market? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,521 with a gap-down of 21 points. Once 19,500 was broken it was a free fall in the market. Including the last 30 minutes fall, Nifty closed at 19,281, down by 260 points or 1.34%.

BANK NIFTY (BNF) started the day at 43,822 with a small gap-up of 99 points. Despite the gap-up, it was the index that fell the most. Once 43,600 was broken, the index quickly fell 500 points more. BANK NIFTY closed at 43,151, down by 571 points or 1.31%.

U.S. markets closed in the red on Monday, and recovered on Tuesday. The European markets were also similar.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in green(+0.24%).

GIFT NIFTY is trading in red at 19,309.

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

NIFTY has supports at 19,227, 19,050 and 19,000. We can expect resistances at 19,310, 19,370 and 19,440.

BANK NIFTY has supports at 43,100, 43,000 and 42,815. Resistances are at 43,260, 43,390 and 43,470.

For NIFTY, the highest call OI Buildup is at 19,600 and the highest put OI buildup is at 19,000. PCR is at 0.57.

For BANK NIFTY, the highest call OI Buildup is at 44,000 and the highest put OI buildup is at 43,000. PCR is at 0.46.

Foreign Institutional Investors net–bought shares worth Rs 252 crores. Domestic Institutional Investors net-bought worth Rs 1,111 crores.

INDIA VIX is at 10.90.

Monday was a bloodbath in the market for the FINNIFTY expiry. The trend of expiries being difficult to trade continued and this time the market fell by a lot.

And tomorrow is the monthly expiry, and the market trend will have to be shown today. On Monday, we were waiting to see if there was a recovery to sell puts in the market, but it was a day of fall. 

It might be difficult for the market to give a reversal confirmation today. BANK NIFTY is at its 5-month low and has broken the 200-day EMA.

While going back up, all the earlier supports will act as resistances. And with BNF being more bearish than NIFTY generally, you will need good support from Banks for this up-move.

Global markets are trying to stabilise after their Monday night fall.

Once again, the market is overly bearish. There are very few puts sold for the monthly expiry. Let us see if that changes at the beginning of the day.

A gentle reminder that it is NOT the BANK NIFTY expiry today. Both NIFTY and BANK NIFTY will be expiring tomorrow.

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

Fin Nifty Falls 200 Points in 10 Mins on Expiry Day! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,521 with a gap-down of 21 points. After a small consolidation initially, the index broke the round level support of 19,500 and continued to move down strength to 19,255 level— a fall of nearly 300 points from the day’s high! Nifty closed at 19,281, down by 260 points or 1.34%.

Nifty chart October 23 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,822 with a small gap-up of 99 points (near the resistance zone of 43,800). The index initially fell to the 43,600 swing low (created last Friday). Then, it mostly consolidated till 2:30 PM, post which there was a fall of more than 575 points to 43,000 levels. The intraday fall was 800 points from the day’s high to the day’s low! BNF closed at 43,151, down by 571 points or 1.31%.

Bank Nifty chart October 23 - post-market analysis | marketfeed

All major indices closed in red. Nifty Media (-4.98%), Nifty PSU Bank (-3.7%), and Nifty Metal (-3.26%) fell the most.

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

Today’s Moves

Mahindra & Mahindra (+0.4%) was NIFTY50’s top gainer.

BSE (+7.52%) moved up sharply after the exchange said it would increase transaction charges on the equity derivatives segment, with effect from November 1.

Shares of CreditAccess Grameen (+7.4%) hit a 52-week high on the back of strong Q2 results and a rise in FY24 revenue guidance.

LTI Mindtree (-3.97%) was NIFTY50’s top loser. The stock has been witnessing a correction since the IT firm reported its Q2 results last week.

Laurus Labs (-9.6%) fell sharply after the pharma company reported a decline in net profit and revenue in Q2.

Markets Ahead

The Indian stock markets were under severe selling pressure post 2:30 PM today— there was a fall of more than 550 points in Bank Nifty, 200 points in Fin Nifty, and 150 points in Nifty! Now, all these indices are at major long-term support zones. If those supports are breached, we could see more bearishness in the markets.

Nifty: As you can see in the chart below, Nifty is at a very important support zone of 19,200-250 levels. If that level is breached, the index may fall to 18,800 levels. On the other hand, the important hurdle to cross on the upper side would be 19,500 levels.

Bank Nifty: Bank Nifty broke the important support zone near 43,500. Now, the 43,000 round level can still be considered as support. If that level is breached, we could expect a further decline to 42,600 levels. Meanwhile, the important resistance to watch out for will be 43,600 levels.



Our markets fell sharply today after the benchmark 10-year US treasury note rose above 5%. Moreover, deepening conflict in the Middle East has hurt investor sentiments in the overall Asian markets.

The Indian markets will be closed tomorrow (Oct 24) on account of Dussehra!

marketfeed wishes all our readers a very happy and prosperous Dussehra!

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Daily Market Feed Pre Market Report

Can NIFTY Stay Above 19,500? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started last week at 19,737 and tried to move up. Monday and Tuesday were slightly in green, before it started the fall on Wednesday. Nifty closed at 19,542, down by 208 points or 1.06% from last Friday.

BANK NIFTY started last week at 44,207 and then moved up. Tuesday and Wednesday saw good red candles. With further gap-downs, BANK NIFTY closed the week at 43,723, down by 600 points or 1.35% from last Friday.

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

What to Expect Today?

Asian markets are trading in the red.

The U.S. Futures are trading slightly in green(+0.04%).

GIFT NIFTY is trading in red at 19,476.

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

NIFTY has supports at 19,490, 19,440 and 19,366. We can expect resistances at 19,560, 19,640 and 19,720.

BANK NIFTY has supports at 43,680, 43,480 and 43,390. Resistances are at 43,840, 44,000 and 44,150.

Foreign Institutional Investors net–bought shares worth Rs 456 crores. Domestic Institutional Investors net-bought worth Rs 8 crores.

INDIA VIX is at 10.86.

The market has closed with a solid weekly red candle. And right now how it opens is crucial for the week.

The market will be very close near 19,500 when it opens. The way it responds around is what we have to see. 

It is the FINNIFTY expiry today, with the highest call OI at 19,700 and the highest put OI at 19,400. PCR is at 0.75.

There are fewer puts sold in the market yet, so watch out after 9:30 if this happens.

BANK NIFTY is also near 43,400, which has to be watched. 

Hoping that the week will not be a good fall, and consolidation will be seen. If this is the case, we will sell more puts as the market stabilises.

Do keep in mind that tomorrow is a holiday in the market, and it is the monthly expiry week!

And we will be continuing to monitor trades on NIFTY and BANK NIFTY today. Both expiries will be on Thursday. 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!

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Daily Market Feed Pre Market Report

Global Markets in Red. Can NIFTY Stay Above 19,500? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,545 with a big gap-down of 126 points. The index took support near the round levels of 19,500, and moved back up. Nifty closed at 19,624, down by 46 points or 0.24%.

BANK NIFTY started the day at 43,616 with a gap down of 272 points. After the big gap-down, the index rose sharply till yesterday’s closing levels of 44,000, and then kept on being volatile. BANK NIFTY closed at 43,754, down by 134 points or 0.31%.

U.S. markets closed flat in the red. The European markets were also in red.

What to Expect Today?

Asian markets are trading in the red.

The U.S. Futures are trading slightly in red(-0.04%).

GIFT NIFTY is trading in red at 19,529.

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

NIFTY has supports at 19,490, 19,440 and 19,366. We can expect resistances at 19,560, 19,640 and 19,720.

BANK NIFTY has supports at 43,680, 43,480 and 43,390. Resistances are at 43,840, 44,000 and 44,150.

Foreign Institutional Investors net–sold shares worth Rs -1,093.47 crores. Domestic Institutional Investors net-bought worth Rs 736.15 crores.

INDIA VIX is at 10.89.

The market kept trading above 19,500 with ease yesterday. A green candle was formed in the daily charts.

But today, it looks like the market is in a mood to move down again. The U.S. markets have fallen, and the Asian markets are also in the red.

Since we are going into the weekend, most likely our market will not try to go against international cues.

But 19,500 is there as an important support nearby, and if that is held, then the market conditions will still be okay.

BANK NIFTY is much weaker and is near its low from May 2023. It will have to hold above 43,400 to maintain some strength over the weekend.

Some added volatility can be expected for the upcoming monthly expiry week, and also for the fact that multiple stocks are still pending to announce their quarterly results. ICICI Bank and Kotak Bank are coming out tomorrow.

And we will be entering fresh trades on NIFTY and BANK NIFTY today. Both expiries will be on Thursday. 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!

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Daily Market Feed Post Market Analysis

Sharp Recovery After Gap Down. Bearishness to Continue? – Post-Market Analysis

closing bell | marketfeed

NIFTY started the day at 19,545 with a big gap-down of 126 points. The index took support near the round levels of 19,500, moved up to 19,600, consolidated, and gave a breakout till yesterday’s closing levels of 19,680. After taking rejection there, the index fell back to 19,600 levels. Nifty closed at 19,624, down by 46 points or 0.24%.

Nifty chart October 19 - post-market analysis

BANK NIFTY (BNF) started the day at 43,616 with a gap down of 272 points. After the big gap-down opening, the index rose sharply till yesterday’s closing levels of 44,000, took rejection, fell to 43,750 levels, and shot back up to 44,060. Then, the index gradually fell to 43,750 levels again. BNF closed at 43,754, down by 134 points or 0.31%.

Bank Nifty chart October 19 - post-market analysis

All indices except Nifty Auto (+0.5%), Nifty Media (+0.14%), and Nifty FMCG (+0.14%) closed flat-to-red. Nifty Metal (-0.88%) fell the most.

Major Asian markets closed mixed (Japan’s Nikkei fell 1.9%). European markets are currently trading in the red.

Today’s Moves

Bajaj Auto (+6.7%) was NIFTY50’s top gainer. The stock hit a 52-week high of ₹5,495 after the two-wheeler manufacturer reported strong Q2 results.

Shares of PSU civil construction company NBCC (India) Ltd (+9.5%) have zoomed over 60% in 3 months.

LTI Mindtree (+6.6%) jumped after the IT major posted Q2 earnings yesterday.

Wipro (-2.98%) was NIFTY50’s top loser. The company reported flat overall growth in Q2 due to the macroeconomic slowdown and cutbacks in discretionary spending in global markets.

MMTC (-9.95%) fell sharply today. The stock has crashed nearly 20% in 2 days on reports that the govt may shut down the company.

Markets Ahead

Bank Nifty made very volatile moves today. Meanwhile, Nifty tried recovering from the lows but faced rejection from the resistance zones.

Nifty: The important support to watch out for is 19,600. A breakdown from there may take the index down to 19,500 levels. The earlier resistance in Nifty will now act as support. The resistance to look out for will be 19,680 levels, and a breakout from there could give us targets of 19,720 and 19,800.

Bank Nifty: The immediate support in BNF is near today’s low and round levels of 43,500. This is an important long-term support zone as you can see in the chart below. A closing below that zone on a daily or weekly time frame could confirm long-term bearishness. On the other hand, the resistance zone is 44,000, and BNF needs to close above that for some bullishness or reversal.

Premiums in Nifty contracts today and Bank Nifty contracts yesterday experienced insane gamma spikes in Out of the Money (OTM) options. The premiums shot up from ₹1 to ₹25-20 in Nifty today and ₹15 premiums spiked to ₹300 yesterday in Bank Nifty! This creates panic situations for option sellers, whereas such moves reward option buyers if they’re in the right direction.

How was Nifty expiry? Are you in net profit or loss? Let us know in the comments below!

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Daily Market Feed Pre Market Report

Can NIFTY Hold onto 19,500 Support? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day flat at 19,820. After forming a big red candle at opening, the index tried to move up but faced resistance at 19,840 once again. Then it gave a sharp fall of nearly 170 points (forming lower lows along the way) and mostly consolidated after 12 PM. Nifty closed at 19,671, down by 140 points or 0.71%.

BANK NIFTY started the day flat at 44,404. The index fell over 500 points after 10 AM and consolidated for the rest of the day. BANK NIFTY closed at 43,888, down by 520 points or 1.17%.

U.S. markets closed flat in the red. The European markets were also in red.

What to Expect Today?

Asian markets are trading in the red.

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

GIFT NIFTY is trading in red at 19,570.

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

NIFTY has supports at 19,640, 19,580 and 19,490. We can expect resistances at 19,720 and 19,790.

BANK NIFTY has supports at 43,840, 43,680 and 43,480. Resistances are at 44,000, 44,150 and 44,280.

NIFTY has highest calls sold at 19,800. The highest puts are sold at 19,600. PCR is overly bearish at 0.67.

Foreign Institutional Investors net–sold shares worth Rs 1,831 crores. Domestic Institutional Investors net-bought worth Rs 1,469 crores.

INDIA VIX is at 10.96.

In Bank NIFTY yesterday, quick moves posed a threat to traders. Even though PCR was indicating bearishness, there was good put-selling in the index. Once the market started going down, these sellers had to run for cover and pulled down the index even further.

Bajaj Finance fell over 2% after announcing its results yesterday. The market found out a reason to push it down.

Only Pharma stocks showed strength in the market yesterday.

NIFTY has some key supports that you can watch for. But Bank Nifty looks to be a bit worrying at the moment. It has also broken a long-term trendline from June 2022, which is not a good sign.

NIFTY will have to stay afloat above 19,500 to have some hope today. Let us see how the market opens and performs. Trade safe for the NIFTY expiry today!

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!

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Daily Market Feed Post Market Analysis

More Profit Booking in Nifty! No Nearby Supports – Post-Market Analysis

Social media icons themed border on a red background vector

NIFTY started the day flat at 19,820. After forming a red candle at opening, the index tried to move up but faced resistance at 19,840 levels. Then it gave a sharp fall of nearly 170 points (forming lower lows along the way) and mostly consolidated after 12 PM. Nifty closed at 19,671, down by 140 points or 0.71%.

Nifty chart October 18 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 44,404. The index fell over 500 points after 10 AM and consolidated in a 135-point range for the rest of the day. BNF closed at 43,888, down by 520 points or 1.17%.

Bank Nifty chart October 18 - post-market analysis | marketfeed

All indices except Nifty Pharma (+0.78%), Nifty Media (+0.27%), and Nifty Auto (+0.08%) closed in the red. Nifty PSU Bank (-1.67%) fell the most.

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

Today’s Moves

Cipla (+3.16%) was NIFTY50’s top gainer.

IRB Infra (+6.6%) surged on the back of strong volumes.

Bajaj Finance (-2.8%) was NIFTY50’s top loser. The company’s Q2 results failed to meet street estimates.

HUDCO (-10.78%) fell sharply after the Indian govt said it would sell up to 7% stake in the company through an offer for sale (OFS).

Biocon (-6.3%) moved down after the US Food & Drug Administration (FDA) classified its Malaysian insulin manufacturing facility as Official Action Indicated (OAI).

Markets Ahead

There is no point in talking about the Israel-Hamas issue again and again. But it has brought a lot of confusion in the global economy.

“Will crude oil price continue to rise?”
“Will inflation rates jump again?”
“Should we expect another rate hike?”
“USD-INR is testing the resistance at 83.2. Will there be more weakness?”

What will investors do at this point? They will simply exit their portfolio with every rise and wait for a dip.

Nifty has fallen below its immediate support at 19,780. But we will see a good inflow of cash if it touches the 19,480 level.

Bank Nifty has made a weak pattern after retracing to 44,660 resistance. HDFC Bank is not giving an indication of a bounce back, as the major support is far away at the 1,470 zone.

What about ICICI Bank? The current chart structure indicates major support near the 929-933 zone ahead of its results on October 21.

Please tune in to The Stock Market Show at 7 PM on our YouTube channel.

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Daily Market Feed Pre Market Report

BANK NIFTY Expiry. Will it Consolidate? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,849 with a gap-up of 120 points. The index moved down immediately and traded in a 60-point zone. NIFTY closed at 19,811, up by 79 points or 0.4%.

BANK NIFTY (BNF) started the day at 44,589 with a gap-up of 350+ points. After falling and consolidating near 44,500 levels, the index fell sharply afternoon. At the end of the day, BANK NIFTY closed at 44,409, up by 183 points or 0.42%.

U.S. markets closed flat in green. The European markets were in the green.

What to Expect Today?

Asian markets are trading mixed.

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

GIFT NIFTY is trading in red at 19,804.

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

NIFTY has supports at 19,790, 19,720 and 19,640. We can expect resistances at 19,840, 19,870 and 19,950.

BANK NIFTY has supports at 44,220, 43,960 and 43,840. Resistances are at 44,520, 44,600 and 44,800.

NIFTY has highest calls sold at 20,000. The highest puts are sold at 19,700. PCR improved to 0.93.

BANK NIFTY has highest calls sold at 43,000. The highest puts are sold at 44,500. PCR improved to 0.71.

Foreign Institutional Investors net–bought shares worth Rs 263 crores. Domestic Institutional Investors also net-bought worth Rs 112 crores.

INDIA VIX is down to 10.69.

NIFTY gave another day of consolidation after the initial gap-up. HDFC Bank results contributed to the green, but the stock made just under 1% move.

FINNIFTY expiry also turned out to be consolidating. 

Bajaj Finance results came out after market hours, and profits went up 26% YoY. There is a chance for a good move in the stock. 

It is the BANK NIFTY expiry today, and the upper resistance of 44,600 is important. The level has been taken as a resistance in day-candles 3 times in the last 2 weeks. Even though there are more calls sold in the market, especially at 44,500, the index is majorly giving signs of consolidation.

Similarly, NIFTY has been testing the 19,840 resistance for quite some time. Let us see if there is enough positivity in the market to break this zone!

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!

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Daily Market Feed Pre Market Report

Global Markets in Green & HDFC Bank Results – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,737 with a small gap-down of 14 points. The index moved up to the 19,780 resistance zone and consolidated between 19,730 and 19,780 (a 50-point range) for most part of the day. NIFTY closed at 19,731, down by 19 points or 0.1%.

BANK NIFTY (BNF) started the day at 44,204 with a gap-down of 87 points. After falling and taking support at 44,045 levels, the index rose nearly 310 points to 44,350 levels. After 11:30 AM, BNF consolidated with a negative bias to close at 44,225, down by 62 points or 0.14%.

U.S. markets closed flat in green(+0.9%). The European markets were in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading slightly flat.

GIFT NIFTY is trading in green at 19,805.

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

NIFTY has supports at 19,720, 19,640 and 19,560. We can expect resistances at 19,790, 19,840 and 19,870.

BANK NIFTY has supports at 44,220, 43,960 and 43,840. Resistances are at 44,520, 44,600 and 44,800.

FINNIFTY has supports at 19,800, 19,733 and 19,700. Resistances are at 19,900, 20,000 and 20,120.

FINNIFTY has highest calls sold at 20,000. The highest puts are sold at 19,500 and 19,800. PCR is bearish at 0.79.

Foreign Institutional Investors net–sold shares worth Rs -593.66 crores. Domestic Institutional Investors net-bought worth Rs 1,184 crores.

INDIA VIX is up to 11.07.

Market gave a good consolidating Monday. Still the levels to watch out for the week have not been broken 19,720 – 19,840.

HDFC Bank results came out after market hours, and profits went up 50% YoY. 

Non-Performing Assets have increased quite a bit, due to the calculation changes after the merger. But most of this was already expected after the historic merger with HDFC.

We will be seeing the Bajaj Finance results also coming out today. All this with the FINNIFTY expiry will be creating a lot of volatility in the index today.

The impact of these results along with the premium moves that we saw last Tuesday, will definitely cause a fear for retailers.

Leave the first 10 minutes to HDFC Bank to give a move. If the market stabilises in this time, it would be a good time to enter a trade. 

Meanwhile keep an eye on NIFTY’s immediate levels also!

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!

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Indecision in the Markets! – Post-Market Analysis

NIFTY started the day at 19,737 with a small gap-down of 14 points. The index moved up to the 19,780 resistance zone and consolidated between 19,730 and 19,780 (a 50-point range) for most part of the day. Nifty closed at 19,731, down by 19 points or 0.1%.

Nifty chart October 16 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,204 with a gap-down of 87 points. After falling and taking support at 44,045 levels, the index rose nearly 310 points to 44,350 levels. After 11:30 AM, BNF consolidated with a negative bias to close at 44,225, down by 62 points or 0.14%.

Bank Nifty chart October 16 - post-market analysis | marketfeed

All indices except Nifty Metal (+0.0%), Nifty PSU Bank (+0.72%), and Nifty Auto (+0.45%) closed in the red. Nifty Pharma (-0.46%) fell the most.

Major Asian markets closed in the red (Japan’s Nikkei fell 2%). European markets are currently trading flat-to-green.

Today’s Moves

Hero MotoCorp (+2.02%) was NIFTY50’s top gainer. The company said it aims to sell more than 13 lakh bikes this festive season.

Fertilizer stocks surged today as a result of increased prices due to the Israel-Hamas war. FACT (+19.99%), GSFC (+9.69%), RCF (+6.5%), GNFC (+5.3%), Deepak Fertilisers (+5.2%), and others closed well in the green.

Divi’s Labs (-2.15%) was NIFTY50’s top loser.

Shares of Delta Corp (-8.5%) a hit 3-year low after its subsidiary, Deltatech Gaming,  was notified of a substantial tax liability amounting to ₹6,384 crore on Saturday.

Sterling & Wilson Solar (-5%) continued its decline after the company missed payments to lenders due to liquidity issues.

Markets Ahead

Nifty is taking a pause after creating gaps on a daily time frame. A breakout or breakdown from these levels will give us clarity on which side the Indian markets are headed. India Vix is up by 5% today despite consolidation, which indicates that fear is rising in the overall markets, and a trendy move can be expected.

Nifty: The immediate support is near today’s low of 19,700 levels. A breakdown from there could give us targets of 19,675 and 19,630. The next resistance level to watch out for is 19,780. Between this zone, the index can be choppy. A breakout from there may give us targets of 19,840 and 19,880. Nifty is also at the edge of a trendline breakdown (as shown below). So watch this trendline.

Nifty chart post-market analysis | marketfeed

Bank Nifty: The immediate support to look out for is near 44,200. A breakdown from there might give us a target of 44,020. Meanwhile, BNF has a resistance near 44,300, and a breakout could give us a target of 44,460.

India’s largest private sector lender, HDFC Bank, has reported a 51% year-on-year (YoY) rise in net profit to ₹15,976 crore for the quarter ended September, beating street estimates!

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