Tag: Bank Nifty

Categories
Daily Market Feed Post Market Analysis

Peaceful Nifty Expiry. Markets at Breakout Levels! – Post-Market Analysis

post-market analysis | marketfeed
Relax, refresh and recharge words on office table with computer, coffee, notepad, smartphone and digital tablet

NIFTY started the day flat at 19,828. After an initial up-move to 19,875 levels, the index fell sharply to the 19,800 support levels and consolidated the rest of the day. Nifty closed at 19,802, down by 9.85 points or 0.05%.

BANK NIFTY (BNF) started the day flat at 43,452. The index had a calm day following yesterday’s volatility. It consolidated within a range of 100 points, roughly between 43,550 and 43,650. It can also be seen as a consolidation between the significant resistance at 43,700 and the support at 43,500. BNF closed at 43,577, up by 127 points or 0.29%.

All indices except Nifty Pharma (-1.57%) and Nifty IT (-0.59%) closed flat-to-green. Nifty Realty (+1.03%) moved up the most.

Major Asian markets closed mixed. European markets are currently trading mixed.

Today’s Moves

Hero MotoCorp (+4.52%) was NIFTY50’s top gainer. The stock has rallied over 15% in nine days after the company reported record festive sales.

Shares of EID Parry (+8.37%) surged after promoters divested a 2.27% stake in the company for ₹190 crore through an open market transaction.

HPCL (+6.94%) moved up with strength as crude oil prices dropped sharply after OPEC+ postponed its meeting to decide on oil output.

Honasa Consumer (Mamaearth) hit a 20% upper circuit after the company reported a 94% YoY growth in Q2 net profit.

Cipla (-7.93%) was NIFTY50’s top loser. The US Food & Drug Administration issued a letter that flagged data issues at the pharma company’s unit in Madhya Pradesh.

Tube Investments (-8.25%) fell sharply today.

Markets Ahead

Being the weekly expiry for Nifty, the index remained stable and maintained its upper levels. Bank Nifty also sustained its upper levels after recovering from yesterday. However, both Nifty and BNF need to overcome their respective major resistances to achieve a clear breakout.

Nifty: The index has immediate support near 19,800. If there’s a breakdown from this level, the index may decline to 19,700 and 19,630 levels. Meanwhile, the resistance to monitor is approximately at 19,860. A breakout from this level might lead to targets of 20,000.

Bank Nifty: A major resistance to watch out for in BNF is 43,700. A breakout from this level could potentially lead to targets of 43,900 and the round level of 44,000. On the other hand, the immediate support lies near 43,500 levels. If there’s a breakdown from there, the index may decline to 43,200 levels.

India VIX remains steady, and the markets are currently stable. Confirmation of a reversal and an uptrend may occur with a further breakout from key resistance levels. In the event of a positive market reversal, you could focus more on Bank Nifty as it’s further away from the all-time high (ATH) compared to Nifty. This suggests that BNF has the potential to move swiftly to cover the gap.

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

Reliance Near Crucial Levels. NIFTY Expiry Volatility? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day flat at 19,784. Initially, Nifty rose to yesterday’s high of 19,830 levels, took rejection there, and experienced a sharp decline of nearly 120 points to the support level at 19,700. Then, it bounced back 120 points! Nifty closed at 19,811, up by 28 points or 0.14%.

BANK NIFTY started the day flat at 43,663. The index made higher lows and fell nearly 460 points to 43,230 levels. Then, it made a sharp retracement of 245 points. BNF closed at 43,449, down by 239 points or 0.55%.

U.S. markets closed in the green. 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 in green at 19,896.

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

NIFTY has supports at 19,790, 19,750, 19,720 and 19,640. We can expect resistances at 19,840, 19,870 and 19,920.

Foreign Institutional Investors net–sold shares worth Rs 306 crores. Domestic Institutional Investors net-bought worth Rs 721 crores.

INDIA VIX fell to 11.86.

BANK NIFTY had a rather volatile day of expiry yesterday. It was mostly down trending for the day, with textbook support levels. But towards the last 2 hours, the index moved back up.

This would have caused trouble to intraday option sellers once again, indicating that expiry trading is indeed getting tougher.

The banking system liquidity deficit, which is the ready cash available to banks to meet needs, has come down to a 5-year low. This was caused by the GST payment outflows and might cause some additional pressure on the banking index today.

US crude prices crashed yesterday night but recovered today. Production cuts scheduled for this weekend were postponed. Have an eye out for related stocks.

Talking about NIFTY expiry today, we have straightforward levels to watch out for. PCR is neutral with OI data indicating a trading range of 19,800 plus or minus 85 points.

Even after this trading range, keep an eye out for the levels which we have discussed above. Overly aggressive trades are supposed to be avoided, as the index is in the mood for intraday trend reversals.

Do have a lookout for Reliance, if it touches the 2,400 mark back again today.

We will be continuing 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!

Categories
Daily Market Feed Post Market Analysis

Nifty Up, Bank Nifty Down! – Post-Market Analysis

BSE - post-market analysis | marketfeed

NIFTY started the day flat at 19,784. Initially, Nifty rose to yesterday’s high of 19,830 levels, took rejection there, and experienced a sharp decline of nearly 120 points to the support level at 19,700. Then, it bounced back 120 points! Nifty closed at 19,811, up by 28 points or 0.14%.

Nifty chart November 22- post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 43,663. The index made higher lows and fell nearly 460 points to 43,230 levels. Then, it made a sharp retracement of 245 points. BNF closed at 43,449, down by 239 points or 0.55%.

Nifty PSU Bank (-1.14%) fell the most, while Nifty IT (+0.74%) moved up the most.

Major Asian markets closed mixed. European markets are currently trading flat-to-green.

Today’s Moves

BPCL (+3.63%) was NIFTY50’s top gainer. The company’s board will meet on November 29 to consider interim dividend for FY24.

CG Power (+19.9%) surged after the company said it would set up an outsourced semiconductor assembly and test facility in India.

Share of Vardhman Textiles (+9.06%), RSMW (+8.8%), Donear Industries (+10.4%), and others were in demand due to analysts’ optimistic outlook for the textile industry.

IndusInd Bank (-2.11%) was NIFTY50’s top loser. The bank’s promoters have denied claims of raising funds by pledging their stake.

Markets Ahead

Both Nifty and Bank Nifty had their fair share of volatility today. While Nifty fell and recovered, Bank Nifty declined and recovered half of the fall— indicating a lack of strength in BNF when compared to Nifty. Even after these volatile moves, it’s surprising to note that India Vix has cooled down.

Nifty: The immediate level to monitor is 19,800 (where the maximum straddle Open Interest is concentrated). Depending on the price action from this level, the index could potentially move upward to 19,860 and 20,000 levels eventually.

Bank Nifty: The previous swing low at 43,200 levels could serve as immediate support. If there’s a breakdown from 43,500, potential targets could be 44,000 and 43,500. On the other hand, 43,200 may act as a significant resistance. A breakout from there might lead to targets of 43,700 and 43,800.

Considering the weakness in BNF, taking advantage of sell-on-rise opportunities might be a smart approach until 43,500 is crossed. 19,800 holds significance for tomorrow’s Nifty weekly expiry. Monitoring the price action around these levels is crucial, and planning a directional trade accordingly could be a strategic move.

Even though the US Federal Reserve adopted a cautious stance in its minutes and refrained from indicating a rate cut, the Indian market managed to recover from the day’s correction and ended with small gains. Meanwhile, 4 out of 5 IPOs have been fully subscribed!

Have you applied for any IPO this week? Let us know in the comments section below!

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

Fed Reserve Indicates Caution. BANK NIFTY Signals Upside? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,770 with a gap-up of 77 points (well above the important resistance zone). After initial consolidation, the index moved up to 19,830 levels but faced rejection. It then fell back to the opening levels and consolidated. Nifty closed at 19,783, up by 89 points or 0.45%.

BANK NIFTY started the day at 43,790 with a gap-up of 207 points. The index mostly consolidated during the first half, but gave a sharp fall to 53,585 levels after 1 PM. Then, BNF bounced back and later consolidated. BNF closed at 43,689, up by 104 points or 0.24%.

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

What to Expect Today?

Asian markets are trading mostly in the green.

The U.S. Futures are trading in green.

GIFT NIFTY is trading in green at 19,865.

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

NIFTY has supports at 19,750, 19,720 and 19,640. We can expect resistances at 19,790, 19,840 and 19,870.

BANK NIFTY has supports at 43,680, 43,560 and 43,470. Resistances are at 43,780, 43,840 and 43,960.

Foreign Institutional Investors net–sold shares worth Rs -455 crores. Domestic Institutional Investors net-bought worth Rs 721 crores.

INDIA VIX is higher at 12.23.

From the FOMC meeting minutes released yesterday, we got an idea of how the U.S. Federal Reserve is proceeding with interest rate hikes.

Fed officials agreed at their last policy meeting that they would proceed “carefully” and only raise interest rates if progress in controlling inflation failed. Do note that this is the minutes of the meeting from October 31st, and just confirms expectations.

Yesterday’s FINNIFTY expiry was one of the most consolidating ever. The index traded in a 40-point zone and gave good profits for option sellers.

Today in BANK NIFTY, there is a tight range for option sellers between 43,500 and 44,000. There was high option writing on both sides of the index yesterday.

Even though the U.S. market fell yesterday night, there are 2 things supporting the global markets. One is the minutes of the meeting indicating that reckless interest rate hikes will no longer take place. The other is still the Dow Jones and NASDAQ are above their recent breakout levels.

So with this, and nearby put selling, I would say BANK NIFTY is more likely to move up today.

We will be continuing 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!

Categories
Daily Market Feed Post Market Analysis

Bank Nifty Holding Down Nifty! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,770 with a gap-up of 77 points (well above the important resistance zone). After initial consolidation, the index moved up to 19,830 levels but faced rejection. It then fell back to the opening levels and consolidated. Nifty closed at 19,783, up by 89 points or 0.45%.

BANK NIFTY (BNF) started the day at 43,790 with a gap-up of 207 points. The index mostly consolidated during the first half, but gave a sharp fall to 53,585 levels after 1 PM. Then, BNF bounced back and later consolidated. BNF closed at 43,689, up by 104 points or 0.24%.

All indices except Nifty PSU Bank (-0.35%), Nifty IT (-0.18%), and Nifty FMCG (-0.16%) closed in the green. Nifty Metal (+1.2%) moved up the most.

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

Today’s Moves

SBI Life Insurance (+2.7%) was NIFTY50’s top gainer. 

RattanIndia Ent (+17.1%) hit a 52-week high after the company’s subsidiary, Neobrands, launched its casual fashion brand.

Coal India (-3.9%) was NIFTY50’s top loser. The drop came after the stock traded ex-dividend.

KPIT Tech (-7.28%) fell sharply after Kotak Institutional Equities downgraded the stock to “Sell”, with a target price of ₹940.

Shares of ONGC (-3.36%) turned ex-dividend today.

Markets Ahead

Bank Nifty is currently holding key resistance levels and is unable to cross them. Meanwhile, Nifty was trying to move up, but Bank Nifty was holding it down. We could expect a directional move soon, depending on whether there is a breakout or breakdown from the current levels.

Nifty: The crucial support level to watch is around 19,750. A breach of this level could lead the index to fall to around 19,700 levels (potentially filling the gap). On the other hand, a breakout from the resistance at 19,800 might push the index upward to 19,860 levels.

Bank Nifty: The major resistance is located near 43,700, coinciding with the highest Open Interest (OI) in weekly contracts. A breakout from that level could potentially trigger a short-covering rally, pushing the index to 44,000 and 44,200. Meanwhile, a breakdown from 43,650 may lead the index down to 43,500 and 43,000 eventually.

Considering tomorrow’s weekly expiry for Bank Nifty and the recent consolidation, we could expect a directional move in BNF. So keep a close watch on breakout and breakdown levels and make trading decisions accordingly!

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

Pleasant FINNIFTY Expiry? BNF Recovery Loading – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day flat at 19,731 and tried to move up. Then, it fell sharply to 19,670 and consolidated in a nearly 45-point range for the rest of the day. Nifty closed at 19,694, down by 37 points or 0.19%.

BANK NIFTY started the day flat at 43,591. The index initially showed strength by moving up to the 43,700 resistance zone. Then, it made a double-top and fell to 43,500 levels. After all the volatile moves, the index consolidated and BNF closed flat at 43,584, up by 1 point or 0.00%.

U.S. markets closed in the green. 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 flat at 19,805.

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

NIFTY has supports at 19,640, 19,560 and 19,500. We can expect resistances at 19,720, 19,790 and 19,870.

BANK NIFTY has supports at 43,470, 43,390 and 43,260. Resistances are at 43,680, 43,840 and 43,960.

FINNIFTY has supports at 19,486, 19,450 and 19,400. Resistances are at 19,560, 19,620 and 19,700.

Foreign Institutional Investors net–sold shares worth Rs -645.72 crores. Domestic Institutional Investors net-bought worth Rs 77 crores.

INDIA VIX is higher at 12.14.

The U.S. market gave a breakout yesterday and hit a 3-month high. On the back of this, even our market has the potential to move up.

The recent changes in RBI rules for banks looks to be already factored in for BANK NIFTY. So now, all that’s left to look at are levels.

The PCR values in BNF still indicate extreme bearishness. PCR is at 0.68.

NIFTY has the highest call OI at 19,800 and the highest put OI at 19,700. PCR is at 0.72.

FINNIFTY has a high call OI at 19,700 and the highest put OI at 19,400. PCR is at 0.79.

There is a chance for the index to move back up, with buying from FIIs. The action of DIIs is not expected much.

Till 19,800, NIFTY would be behaving well. Even FINNIFTY has some breathing room for its expiry today on both sides. So without quick moves in the index, the expiry day could go well.

We will be continuing 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!

Categories
Daily Market Feed Post Market Analysis

Consolidation in Nifty and Bank Nifty! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,731. The index initially rose to 19,750 levels, fell 50 points, and moved up with strength to 19,755 levels (the day’s high). Then, it fell sharply to 19,670 and consolidated in a nearly 45-point range for the rest of the day. Nifty closed at 19,694, down by 37 points or 0.19%.

Nifty chart November 20 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 43,591. The index initially showed strength by moving up to the 43,700 resistance zone. Then, it made a double-top and fell to 43,500 levels. After all the volatile moves, the index consolidated and BNF closed flat at 43,584, up by 1 point or 0.00%.

Nifty Auto (-0.76%) fell the most, while Nifty IT (+0.6%) moved up the most today.

Major Asian markets closed mixed. UK’s FTSE100 is currently trading in the red, while France’s CAC40 and Germany’s DAX (+2%) are trading in the green.

Today’s Moves

Divi’s Labs (+2.02%) was NIFTY50’s top gainer. The stock extended gains for the fourth day in a row. 

Tata Investment Corp (+15.17%) rallied ahead of Tata Technologies’ IPO on Nov 22.

Latent View (+9.25%) surged on the back of strong volumes.

Adani Enterprises (-2.67%) was NIFTY50’s top loser. As per a Reuters report, Indian investigators aim to resume a probe into Adani Group. The inquiry focuses on suspected coal import overvaluation.

Bajaj Finance (-2.11%) fell after the lender temporarily suspended issuing member ID cards to customers following RBI’s order.

Shares of Balkrishna Industries (-5.51%) fell sharply, extending losses for the second straight session. 

Markets Ahead

The Indian markets are currently holding near crucial resistance levels. However, the rise in India VIX and a PCR of 0.73 suggest a degree of bearish sentiment (especially in Bank Nifty). Given that both indices have been trading in a range, a decisive breakout or breakdown from these levels could lead to significant moves in the respective directions.

Nifty: The critical support level to monitor is around 19,660. If there’s a breakdown from this level, potential targets in the index could be 19,600 and 19,500. On the other, the resistance to keep an eye on is at 19,720. A breakout from this level might lead to targets of 19,760, 19,800, and 19,860.

Bank Nifty: The key resistance level to monitor is at 43,800. A breakout from this level could propel the index to 44,000 and 44,200 levels. Meanwhile, the support level to keep an eye on is around 43,400. A breakdown from this level might lead to targets of 43,000 and 42,500 eventually.

Following today’s consolidation, the upcoming FINNIFTY expiry tomorrow could be volatile. So stay alert for directional movements and trade with caution.

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

Flat Opening. Will BNF Continue Bearishness? – Pre-Market Analysis Report

closing bell | marketfeed

What Happened Yesterday?

NIFTY started Friday at 19,674 with a gap-down of 91 points. After opening, the index made a strong recovery of more than 130 points to 19,800 levels. For the rest of the day, it consolidated in a range with a negative bias. Nifty closed at 19,731, down by 33 points or 0.17%.

BANK NIFTY started the day at 43,656 with a gap-down of 504 points (below the 44,000 support zones). After initial volatility, 43,800 acted as strong resistance, and the index consolidated with a negative bias. BNF closed at 44,161, down by 577 points or 1.31%.

U.S. markets closed flat. 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 flat at 19,809.

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

NIFTY has supports at 19,720, 19,640 and 19,560. We can expect resistances at 19,790, 19,870 and 19,920.

BANK NIFTY has supports at 43,470, 43,390 and 43,260. Resistances are at 43,680, 43,840 and 43,960.

Foreign Institutional Investors net–sold shares worth Rs 565 crores. Domestic Institutional Investors net-sold worth Rs 477 crores.

INDIA VIX is higher at 11.82.

Friday was mostly a day of consolidation for NIFTY, where it closed flat even while BANK NIFTY fell 1%. 

BNF had bearishness because of the news that RBI increased the cost of funds to banks and the capital adequacy ratio. This would mean, lower loans being sold to new customers, as well as a lower percentage of unsecured loans.

The PCR values in BNF indicate extreme bearishness.

NIFTY has the highest call OI at 19,800 and the highest put OI at 19,700. PCR is at 0.86.

FINNIFTY has a high call OI at 19,800 and the highest put OI at 19,300. PCR is at 0.79.

But BANK NIFTY’s PCR is the weakest at 0.59. This indicates extreme bearish action over the weekend in the index. It is also reaching the 200-day exponential moving average at around 43,300.

For the weekly expiry, I am expecting calmness in NIFTY this time. But for the other indices, we expect a good action, especially since BNF is having such a bearish tone, We will have to see how the levels are respected for today.

We will be continuing 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!

Categories
Daily Market Feed Post Market Analysis

Momentum Lost in Nifty and Bank Nifty! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,674 with a gap-down of 91 points. After opening, the index made a strong recovery of more than 130 points to 19,800 levels. For the rest of the day, it consolidated in a range with a negative bias. Nifty closed at 19,731, down by 33 points or 0.17%.

Nifty chart Nov 17 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,656 with a gap-down of 504 points (below the 44,000 support zones). After initial volatility, 43,800 acted as strong resistance, and the index consolidated with a negative bias. BNF closed at 43,583, down by 577 points or 1.31%.

Other indices except Nifty PSU Bank (-2.39%), FIN NIFTY (-0.9%), and Nifty IT (-0.25%) closed in the green.

Major Asian markets closed mixed. European markets are currently trading in the green.

Today’s Moves

SBI Life Insurance (+3.97%) was NIFTY50’s top gainer. The stock extended gains for the third day in a row.

Tata Investment Corp (+20%) surged on account of value unlocking opportunity with Tata Technologies IPO. The public offer opens for subscription on November 22.

Varroc Engineering (+16.8%) surged on the back of strong volumes.

State Bank of India (-3.69%) was NIFTY50’s top loser. 

RBL Bank (-7.7%), Aditya Birla Capital (-5.6%), SBI Card (-5.14%), and other banking and NBFC stocks crashed after the RBI tightened the norms for personal loans and credit cards.

Markets Ahead

Markets gave a strong closing on a weekly time frame. Looking at the daily timeframe, there is a retracement of 38% in the Fibonacci levels for Bank Nifty. However, it’s important to note that this retracement is for the uptrend from 42,100 levels. When examining the same retracement levels from 46,300 levels, it coincides with the 50% rejection zone. This suggests a bearish sentiment on an even larger time frame.

On the other hand, Nifty looks stronger than Bank Nifty, and no retracement was observed. So if Bank Nifty shows weakness, there is a possibility that Nifty might experience a slight dip as well.

Nifty: The key support levels for the index are at 19,600 and 19,500. If there’s a breakdown from 19,630, potential targets could be 19,500 and 19,400. On the other hand, the major resistance level to monitor is around 19,860. A breakout from there might set a target of 20,000.

Bank Nifty: A vital support level to monitor is around 43,400. A breakdown from this level could confirm short-term bearishness, with potential downside targets at 43,000 and 42,500. On the other hand, significant resistance is evident near 44,800, while the immediate resistance lies at 44,000. A breakout from there could cause the index to rise to 44,400 and 44,800.

The Indian stock market displayed a mixed performance today, marked by a decline in financial stocks as RBI tightened consumer lending rules. Meanwhile, global markets have been strong due to the easing U.S. interest rate outlook and a decline in oil prices.

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

Consolidating Friday? Flat Opening Expected – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day flat at 19,674. From the day-low, there was a proper rally to 19,880 levels. But what was interesting was the final 30 mins of trading, with a fall of 150 points. Nifty closed at 19,765, up by 89 points or 0.46%.

BANK NIFTY also had a cold start, with initial consolidation. It gave a breakout and then tried to spike till yesterday’s high. BANK NIFTY also faced rejection for the second time, resulting in a sharp fall of over 350 points in just 30 minutes. BNF closed at 44,161, down by 40 points or 0.09%.

U.S. markets closed slightly in the red(-0.14%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading mostly in the red.

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

GIFT NIFTY is trading flat at 19,789.

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

NIFTY has supports at 19,720, 19,640 and 19,560. We can expect resistances at 19,790, 19,870 and 19,920.

BANK NIFTY has supports at 44,060, 43,960 and, 43,835. Resistances are at 44,160 44,277 and 44,400.

Foreign Institutional Investors net–bought shares worth Rs 957 crores. Domestic Institutional Investors net-bought worth Rs 705 crores.

INDIA VIX is higher at 11.64.

Another crazy move in the market for Thursday’s NIFTY expiry. The index moved within the expected ranges, but the last 30-minute move was the crazy part!

The U.S. markets have consolidated after multiple days of bullish moves. This indicates our market could consolidate from here as well.

The PCR values when the day began in NIFTY was already bullish, and the breakout above levels was in-line with expectations.

But looking forward, BANK NIFTY is seeing more call selling for the upcoming week of trade. Will be interesting to see if the trend continues on into the weekend.

We will be continuing 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!

Categories
Daily Market Feed Post Market Analysis

20,000 Loading for Nifty? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,674. After initially falling to the previous swing levels of 19,630, there was no looking back! The index rallied nearly 250 points, moving from the intraday low of 19,627 to 19,875 levels. Even though the index tried to take resistance at 19,700 and 19,800 along the way, it consistently moved up. In the final 30 mins of trading, there was a notable decline of 150 points— bringing the index down to 19,725 levels. Nifty closed at 19,765, up by 89 points or 0.46%.

BANK NIFTY (BNF) started the day at 44,251 with a gap-up of 50 points. After consolidating within yesterday’s range until 11:00 AM, the index experienced a breakout, surging over 100 points to reach 44,400 levels. However, it faced resistance, leading to a decline. Despite attempting to return to those levels, the index faced rejection for the second time, resulting in a sharp drop of over 350 points in just 30 minutes. BNF closed at 44,161, down by 40 points or 0.09%.

All indices except Nifty PSU Bank (-0.24%) and Nifty FMCG (-0.15%) closed flat-to-green. Nifty IT (+2.69%) moved up the most.

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

Today’s Moves

Hero MotoCorp (+3.2%) was NIFTY50’s top gainer. The two-wheeler maker marked its highest-ever festive retail sales, surpassing the 14 lakh unit mark.

Alok Industries (+9.79%) surged on the back of strong volumes.

Coforge (+6.7%), Mphasis (+4.23%), TCS (+2.7%), TechM (+2.8%), and other IT stocks rallied for the second day in a row, supported by softer-than-expected inflation data in the US. 

PowerGrid (-1.45%) was NIFTY50’s top loser. The stock turned ex-dividend today.

Kalyan Jewellers (-4.94%) fell sharply after brokerage firm ICICI Securities downgraded the stock from ‘Buy’ to ‘Add’.

Markets Ahead

Nifty was on steroids and moved with a lot of strength! As discussed in yesterday’s post-market report, Indian markets have turned bullish and buying on dips would be an ideal strategy. As we highlighted, focusing on long-side trades in Nifty was a wise move, given the index’s potential for upward movement. This strategy has proven to be effective in today’s market session.

Both indices experienced a significant drop in the last half-hour of trading. Whether this is merely profit booking or an indication of more incoming declines remains to be seen.

Nifty: The immediate resistance to watch out for is 19,800. A breakout from there could give us targets of 19,870 (today’s high) and 19,910. Meanwhile, the support can be seen near 19,700 levels (the earlier resistance now acting as support). A breakdown from there may give us targets of 19,635 and 19,500 eventually.

Bank Nifty: There is clear resistance near 44,400 levels. A breakout from there may take the index up to 44,500. The major support to look out for is the 44,000 round levels. A breakdown could give us targets of 43,800 and 43,700.

Bank Nifty is looking weaker than Nifty. If there’s a flat or gap-down opening tomorrow, considering short trades in both indices could be a strategic move. On the other hand, if there’s a minor correction following a big upward rally and the index opens flat and moves upward, planning buy-in-dips trades might be a suitable approach.

Being Nifty expiry today, option sellers would have been in trouble as CE premiums were seeing gamma spikes. Option premiums were very erratic, and the last 150-point fall created panic for PE sellers as well.

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Post Market Analysis

Nifty Closes Near 19,700 After Big Gap-Up! – Post-Market Analysis

nifty post-market analysis | marketfeed

NIFTY started the day at 19,651 with a gap-up of 208 points. The index formed a 75-point red candle (5-min chart) at opening. Following this, it consolidated within a nearly 30-point range till 1 PM, gave a breakout of the consolidation, and gradually rose to 19,690 levels amidst some volatility. Nifty closed at 19,675, up by 231 points or 1.19%.

Nifty chart November 15 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,398 with a gap-up of 507 points. The index formed a 205-point red candle at opening! Then, it fell sharply to 44,165 levels and consolidated in a 95-point range for the rest of the day. BNF closed at 44,201, up by 310 points or 0.71%.

All indices closed in green. Nifty Realty (+2.95%) and Nifty IT (+2.59%) moved up the most.

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

Today’s Moves

Eicher Motors (+5.5%) was NIFTY50’s top gainer. The stock continued its strong up-move after the automaker posted better-than-estimated Q2 results.

Network18 (+10%) surged on the back of strong volumes.

Bajaj Finance (-1.86%) was NIFTY50’s top loser. 

Shares of Rajesh Exports (-8.05%) hit a three-year low after the company’s Q2 profit fell 88% YoY to ₹45.3 crore.

Natco Pharma (-4.48%) fell sharply despite the company reporting a 6x jump in net profit to ₹369 crore in Q2.

Markets Ahead

Both Nifty and Bank Nifty have crossed their important resistance levels, indicating a bullish trend.

Nifty: The crucial resistance to monitor is at 19,700. A breakout from this level might lead Nifty to touch 19,850. On the other hand, the immediate support stands at 19,650. If there’s a breakdown from this point, the index might experience a decline to 19,580 and 19,500 eventually. Given the current bullish trend in the markets, considering buying opportunities during each dip could be a strategic approach.

Bank Nifty: The critical support level to keep an eye on is 44,150. If this level is breached, BNF could potentially decline to the gap-filling zone at 43,900. Meanwhile, a breakout from 44,300 (resistance level) could propel BNF upward, reaching 44,300 initially and eventually climbing to 44,500.

There seems to be more space for Nifty to move on the upside than Bank Nifty. So you could take your trades accordingly!

The big gap-up today was influenced by positive global signals, particularly the softer-than-expected inflation data in the US and the UK. This suggests optimism regarding a potential end to the interest rate cycle (bond yields have also come down). Moreover, the decline in India’s CPI inflation further contributed to the improved market sentiment.

Please join The Stock Market Show at 7 PM on our YouTube channel.