Tag: Bank Nifty

What Happened yesterday?

NIFTY started the day with a gap-down at 21,434. After the first 2 candles, it was consolidation for NIFTY inside an 80-point zone for the rest of the day. NIFTY closed at 21,418, down by 38 points or 0.18%.

U.S. markets closed flat(+0.15%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 21,482.

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

NIFTY has supports at 21,400, 21,360 and 21,290. We can expect resistances at 21,500, 21,550 and 21,600.

In NIFTY, the highest put OI is at 21,300 and the highest call OI is at 21,500. PCR is 0.96.

BANKNIFTY has supports at 47,760, 47,600 and 47,500. We can expect resistances at 47,960, 48,200 and 48,500.

In BANKNIFTY, the highest put OI is at 47,000 and the highest call OI is at 48,000. PCR is 0.86

FINNIFTY has supports at 21,420, 21,380 and 21,300. We can expect resistances at 21,470, 21,560 and 21,600.

In FINNIFTY, the highest put OI is at 21,400 and one of the highest call OI is at 21,500. PCR is 0.83.

Yesterday, Foreign Institutional Investors net–sold shares worth Rs Rs 33 crores. Domestic Institutional Investors net–bought shares worth Rs 413 crores.

INDIA VIX is up to 13.90, the highest daily close since March.

The market opened with a gap-down yesterday, after a whole week of gap-up action.

And throughout the whole day, there was high call selling across the market. Put to call ratio for all indices indicates that call sellers are more active this week.

This does not have to mean that the market is set for a fall or big profit booking is coming. It is just an indication that, along with the global markets, we are also ready to consolidate near the top.

Today, for the FINNIFTY expiry, there is a high call selling at 21,500 zone. The index is likely to stay below it till 2:30 PM. On the lower side, Thursday’s and Friday’s low of 21,380 is what you should have in mind.

If FINNIFTY breaks out and performs today, it could be just the right indication for bulls to take up the rest of the market!

All the best for your trades today!

We will be modifying our NIFTY and BANK 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!

What Happened on Friday?

NIFTY started Friday with a gap-up at 21,298 and briefly dipped. But since this opening was at an all-time high, there was huge buying interest. Multiple rounds of rally took the index up to 21,500 regions. NIFTY closed at 21,456, up by 274 points or 1.29%.

U.S. markets closed in the green(+0.15%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading in the red.

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

GIFT NIFTY is trading in green at 21,486.

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

NIFTY has supports at 21,400, 21,360 and 21,290. We can expect resistances at 21,500, 21,550 and 21,600.

In NIFTY, the highest put OI is at 21,300 and the highest call OI is at 22,000. PCR is 1.46.

BANKNIFTY has supports at 47,965, 47,760 and 47,600. We can expect resistances at 48,200, 48,500 and 48,800.

In BANKNIFTY, the highest put OI is at 48,000 and also the highest call OI is at 49,000. PCR is 1.16.

FINNIFTY has supports at 21,470, 21,380 and 21,300. We can expect resistances at 21,560, 21,600 and 21,680.

In FINNIFTY, the highest put OI is at 21,400 and one of the highest call OI is at 21,600. PCR is 1.06.

On Friday, Foreign Institutional Investors net–bought shares worth Rs Rs 9,239 crores. Domestic Institutional Investors net–sold shares worth Rs 3,077 crores.

INDIA VIX is up to 13.12.

With the Federal Reserve in the U.S. holding interest rates steady on Wednesday night, the market started rallying to fresher highs. 

We had said that when the Dow hits a fresh all-time high, the 21k mark will be a piece of cake for NIFTY. And that is exactly what happened. 

While the U.S. market cooled out on Friday, ours closed at another all-time high.

On Friday, the silent player pushing the market up was IT stocks. The IT index hit a 20-month high, with a 4.5% intraday rally.

Bets are forming for this week’s expiry, but for now, it looks like bulls are still confident. NIFTY’s high put selling indicates that in the next 2 weeks, even 22,000 is in the grabs.

Today, the focus will be on FII-heavy stocks including old-time favourites Bajaj Finance, HDFC Bank and  Infosys. PSU Bank rally is also expected to continue.

We will be modifying our NIFTY and BANK 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!

What Happened on Friday?

NIFTY started the day flat at 20,965 and went up briefly above the 21k mark. But after initial rejection, the index traded in a 60 point range between 20,950-21,010 for the rest of the day. NIFTY closed at 20,997, up by 27 points or 0.13%.

U.S. markets closed in the green(+0.43%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading in the green.

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

GIFT NIFTY is trading in green at 21,143.

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

NIFTY has supports at 20,950, 20,850 and 20,800. We can expect resistances at 20,950, 21,010 and 21,100.

In NIFTY, the highest put OI is at 19,900 and the highest call OI is at 21,100. PCR is 0.92.

BANKNIFTY has supports at 47,200, 46,950 and 46,500. We can expect resistances at 47,300, 47,500 and 47,800.

In BANKNIFTY, the highest put OI is at 47,500 and also the highest call OI is at 47,500. PCR is 1.16.

FINNIFTY has supports at 21,185, 21,100 and 21,060. We can expect resistances at 21,250, 21,320 and 21,350.

In FINNIFTY, the highest put OI is at 21,000 and one of the highest call OI is at 21,400. PCR is 0.91.

Foreign Institutional Investors net–bought shares worth Rs +1,261 crores. Domestic Institutional Investors net–bought worth Rs 1,034 crores.

INDIA VIX is up to 12.75.

The U.S. markets gave a breakout to fresh 2023 highs ahead of Consumer Price Inflation data today. The market is hoping for lower inflation, which could trigger an interest rate cut in the coming months.

Our market is also signalling it would open at a fresh all-time high.

The only question now is, can FININIFTY and BANKNIFTY break out of their bearish price action from yesterday and play along with NIFTY’s positivity?

For FINNIFTY expiry today, I expect the index would trade between 21,100 and 21,400. You can plan your trades based on the premiums at the opening.

Infosys ADRs in the U.S. signal a 2% gap-down as its CFO Nilanjan Roy resigned. You can watch for a gap down and then move back up.

We will be modifying our NIFTY and BANK 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!

What Happened on Friday?

NIFTY started the day flat at 20,930 and went up to the 21k level. From there, it moved back down to Thursday’s low. There was a sharp recovery after 1:30 PM. NIFTY closed at 20,969, up by 68 points or 0.33%.

U.S. markets closed in the green(+0.36%). The European markets closed in the green.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in small red at 21,073.

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

NIFTY has supports at 20,950, 20,850 and 20,800. We can expect resistances at 20,950, 21,000 and 21,100.

In NIFTY, the highest put OI is at 19,900 and the highest call OI is at 21,100. PCR is 0.96.

BANKNIFTY has supports at 47,200, 46,950 and 46,500. We can expect resistances at 47,300, 47,500 and 47,800.

In BANKNIFTY, the highest put OI is at 47,000 and one of the highest call OI is at 47,500. PCR is 1.24.

Both institutions were net buyers last week. Foreign Institutional Investors net–bought shares worth Rs +9,285 crores. Domestic Institutional Investors net–bought worth Rs 4,296 crores.

INDIA VIX is at 12.46.

NIFTY traded below and took resistance at the 21,000 level. As we have discussed, this is an important psychological level for the next day.

RBI also affirmed on Friday that the repo rates are being held at the same level for another few months. This and the U.S. Fed holding their rates will definitely interest institutional investors to invest in the market.

Dow Jones is back to its 52-week high level on Friday. 

There is an important Federal Reserve meeting tomorrow and the day after. This will reveal more details about the last rate hike of the year. The general expectation is that there will be no rate hike.

So what is going to change? The market and traders are follow this event to see if rate cuts are going to be enacted in March.

If this does happen, then the market is all set for further positiveness. Let’s wait for the minutes of the meeting!

We will be modifying our NIFTY and BANK 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!

What Happened Yesterday?

NIFTY started the day flat at 20,940 and fell to Wednesday’s low. The opening level was the day high and the market consolidated from there. NIFTY closed at 20,901, down by 36 points or 0.17%.

U.S. markets closed in the green(+0.17%). The European markets closed in the red.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading slightly flat.

GIFT NIFTY is trading in small red at 21,073.

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

NIFTY has supports at 20,850, 20,800 and 20,720. We can expect resistances at 20,950, 21,000 and 21,100.

In NIFTY, the highest put OI is at 20,000 and the highest call OI is at 21,000. PCR is 1.14.

BANKNIFTY has supports at 46,500, 46,240 and 46,000. We can expect resistances at 46,950, 47,200 and 47,500.

In BANKNIFTY, the highest put OI is at 46,500 and the highest call OI is at 47,000. PCR is 0.98.

Both institutions were net sellers yesterday. Foreign Institutional Investors net–sold shares worth Rs -1,564 crores. Domestic Institutional Investors net–sold worth Rs 9 crores.

INDIA VIX has increased to 12.64.

NIFTY traded between 20,850 and 20,950 in a 100-point zone yesterday. If you are avoiding the first few candles, it was tighter consolidation. Was good to see that the put side was defended throughout the day, indicating current strength in the market.

As we discussed last day, if you think the Indian markets are moving up based on just the election news, you will be wrong. The global markets have also been on a roll over the last month.

And currently, the U.S. markets are just 2% away from their all-time highs from Jan 2022. If it breaks out, our market also breaking out above 21,000 will be a piece of cake

Today’s highlight is the RBI Monetary Policy Committee meeting minutes coming out at 10 AM. RBI Governer will be announcing the last interest rate decision before the Union Budget in Feb.

The broad expectation is that rates will be held at current levels. Do watch out for volatility in the markets around this time. You know the levels to watch! 

Have a watch out for IT stocks, as NASDAQ continues its rally.

We will be entering fresh NIFTY trades and modifying our BANK 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!

What Happened Yesterday?

NIFTY started the day at 20,928 with a gap-up. After opening, there was a good consolidation till noon. From there, it went down till Tuesday’s low by 1:30 PM and bounced back to the day-high. NIFTY closed at another fresh all-time high of 20,937, up 82 points or 0.40%.

U.S. markets closed in the red(-0.19%). The European markets closed in the green.

What to Expect Today?

Asian markets are all trading in the red.

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

GIFT NIFTY is trading in small red at 21,041.

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

NIFTY has supports at 20,850, 20,800 and 20,720. We can expect resistances at 20,950, 21,000 and 21,100.

In NIFTY, the highest put OI is at 20,800 and the highest call OI is at 21,000. PCR is 1.06.

Foreign Institutional Investors net–sold shares worth Rs -79.88 crores. Domestic Institutional Investors net-bought worth Rs 1,372 crores.

INDIA VIX has increased to 13.74,.

NIFTY fell to the 20,850 level by 1:30 PM and was expected to consolidate. But from there, the index suddenly found power and bounced back up to the day-high.

BANK NIFTY traded between the levels we discussed – 47,200 and 46,700.

But interestingly, even with NIFTY’s bounce back, call sellers did not get less aggressive. 

For the weekly expiry today, there is a high call OI at 20,950 and above. There is good put OI at 20,900 and below. The option sellers are maintaining a neutral position overnight.

With GIFT NIFTY indicating a gap-down opening, if the market needs to be neutral, 20,900 will have to be taken out only slowly. If there is a sudden fall, then profit booking and covering of puts together will pull the index down.

So the expected trading range of 20,850-21,000 remains, with a bit of caution on the put side in the opening phase. 

Have a great NIFTY weekly expiry!

We will modify our NIFTY trades and enter new BANK 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!

What Happened Yesterday?

NIFTY started the day at 20,813 with a gap-up. After opening, there was a big fall till the last day’s high. From there, it bounced back to 20,850 and then fell again. Adani stocks and ICICI Bank helped NIFTY close at another fresh all-time high of 20,855, up by 168 points or 0.81%.

U.S. markets closed in the red(-0.22%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading in the green.

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

GIFT NIFTY is trading in small green at 21,040.

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

NIFTY has supports at 20,850, 20,800 and 20,720. We can expect resistances at 20,900, 20,950 and 21,000.

BANKNIFTY has supports at 46,750, 46,600 and 46,400. We can expect resistances at 47,080, 47,200 and 47,500.

Foreign Institutional Investors net–bought shares worth Rs 5,223.51 crores. Domestic Institutional Investors net-sold worth Rs 1,399 crores.

INDIA VIX has increased to 13.46.

NIFTY’s rally into the open all-time high continues. The index has moved up nearly 600 points in the first two days of the week.

BANK NIFTY showed strength yesterday though, as expected. It moved up much more than the rest of the market, shooting up nearly 800 points intraday.

This week has been extremely bullish till now. But yesterday, BANK NIFTY started cooling towards the second half. There was a good call option selling happening in BANK NIFTY, as it closed around the 47k mark.

With this and the comparatively small gap-up, we will be seeing an interesting BANK NIFTY expiry today.

NIFTY still has some bullish moves left in it, including from Adani stocks. So do watch if this affects BNF.

Otherwise, the larger level I will watch out for is the 47,200 resistance in BNF. On the lower side, you can watch 46,700.

We will be modifying our NIFTY and BANK 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!

What Happened Yesterday?

NIFTY started the day at 20,183 with a gap-up. After opening, there was a sharp jump to the all-time high level. It took resistance there and gave another breakout. Nifty closed at a fresh all-time high of 20,267, up by 134 points or 0.67%.

U.S. markets closed in the green(+0.85%). The European markets also closed in green.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in huge green at 20,629.

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

NIFTY has supports at 20,221, 20,160 and 20,035. We can expect resistances at 20,290, 20,340 and 20,400.

FINNIFTY has supports at 20,200, 20,120 and 20,000. We can expect resistances at 20,260, 20,300 and 20,330.

Foreign Institutional Investors net–bought shares worth Rs 1,589 crores. Domestic Institutional Investors net-sold worth Rs 1,448 crores.

INDIA VIX fell to 12.38

After opening near the all-time high on Friday, NIFTY gave a strong breakout and rallied above it. One of the few times, an all-time high is not broken with a gap-up.

And now, as I write, the gap-up indicated by GIFT NIFTY is huge. The elections in multiple states had results coming out. 

It indicates that BJP is leading in 4 states of Chhattisgarh, Rajasthan and Madhya Pradesh assembly elections. This is a huge boost for the market ahead of the upcoming 2024 Lok Sabha elections.

And it is a bonus that global markets are also positive.

BJP was expected to win but is winning with a much higher margin than expected. A similar gap-up to today also happened during the 2019 elections but ended with a red-closing.

The previous all-time high will act as good support for the market at 20,225.

Have a watch out for BANK NIFTY, which has not shown as much strength. 

We will be modifying our NIFTY and BANK 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!

What Happened Yesterday?

NIFTY started the day flat at 20,108 with a small gap-up of 12 points. After opening, the index fell sharply by over 100 points to 20,015 levels. It took support there and bounced back up to 20,150 levels with volatility. Nifty closed at 20,133, up by 36 points or 0.18%.

BANK NIFTY started the day at 44,711 with a gap-up of 145 points. After opening, the index fell nearly 500 points to 44,250 levels. Then, it moved in a 200-point range for most part of the day. BNF closed at 44,481, down by 84 points or 0.19%.

U.S. markets closed in the green(+1.6%). The European markets closed in green.

What to Expect Today?

Asian markets are trading mostly in the green.

The U.S. Futures are trading positive.

GIFT NIFTY is trading in green at 20,138.

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

NIFTY has supports at 20,044, 20,000 and 19,960. We can expect resistances at 20,160, 20,200 and 20,250.

Foreign Institutional Investors net–bough shares worth Rs 8,147 crores. Domestic Institutional Investors net-sold worth Rs 781 crores.

INDIA VIX is at 12.69.

For the monthly expiry, the market was more disciplined than usual. Even though BANK NIFTY would have given some trouble to expiry traders, NIFTY was comparatively better.

Our expectation that the market would rally towards the all-time high is also turning out to be true. NIFTY is just 90 points away from the all-time high.

The Dow Jones index from the U.S. closed November with an 8.9% gain, breaking its three-month losing streak. It is also just 2-3% away from all-time highs.

Going forward, the 20k level is likely to be defended aggressively by option sellers. With PCR higher than 1 for the upcoming week, NIFTY also has a bullish flavour for now.

The major upward level to watch out for is the all-time high in NIFTY, and 44,800 is BANK NIFTY. If these are broken, it will set the stage for an amazing December for the Indian markets.

We will be entering our fresh NIFTY and BANK 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!