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Daily Market Feed Post Market Analysis

Selling from ATH! Small-Cap, Mid-Cap Stocks Fall – Post-Market Analysis

volatility - post-market analysis | marketfeed

NIFTY started the day at 20,110 with a huge gap-up of 113 points. Right after opening, the index fell 195 points to 19,900 in the first 45 mins. It immediately bounced back over 100 points to 20,000 levels. The index was very volatile in this 100-point range throughout the day, making intraday moves of more than 650 points! Nifty closed flat at 19,993, down by 3.15 points or 0.02%.

BANK NIFTY (BNF) started the day at 45,893 with a gap-up of 323 points. Similar to Nifty, BNF fell 500 points to 45,400 levels initially and immediately bounced back another 200 points to 45,600 levels. The index was volatile in this range— making intraday moves of 1,700 points. BNF closed at 45,511, down by 59 points or 0.13%.

All indices except Nifty IT (+1.03%) and Nifty Pharma (+0.12%) closed flat-to-red. Nifty Media (-4.3%) fell the most. Nifty Smallcap 100 (-4.1%) and Nifty Midcap 100 (-3.05%) closed deep in the red.

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

Today’s Moves

TCS (+2.8%) was NIFTY50’s top gainer. The stock hit a 52-week high of ₹3,589.90 today after the IT major partnered with Dassault Systems as part of the Living Heart Project.

ITI (+12%) continued its strong up-move after the company said it has developed a laptop and micro PC in association with Intel Corporation. 

Brightcom Group (+4.8%) gained after the troubled company announced a reduction in its pledged shares.

PowerGrid shares turned ex-bonus today. The company had declared the issuance of bonus shares in a 1:3 ratio, which means 1 bonus share for every 3 shares held by shareholders as on the record date (Sept 12).

Sugar stocks Shree Renuka Sugars (-5.3%), Dalmia Bharat Sugar (-6.4%), EID Parry India (-5.1%), Balrampur Chini Mills (-4.5%), Bajaj Hindustan Sugar (-10.5%), and others fell sharply after the govt asked sugar mills to provide details of sales between May and August by today.

Markets Ahead

The Indian markets have faced rejection after the gap-up opening— exactly like how we discussed in yesterday’s post-market report. This is just a retracement, and markets can still be bullish till important support zones are breached.

Nifty: Now, the immediate support to watch out for is 19,900 levels. A breakdown from 19,975 levels (the previous swing) could take the index down to 19,900 and 19,820 levels. Meanwhile, immediate resistance is at 20,000 round levels, and the next important resistance is today’s high or all-time high (ATH) of 20,100 levels. A breakout from 20,000 may take the index to 20,100 and above (the targets can be trailed).

Bank Nifty: The immediate support in Bank Nifty is near 45,300 levels. A breakdown from there could give us a target of 45,000. The immediate resistance is near 45,600; a breakout from this level can give us a target of 45,850 again.

FIN NIFTY: Being Fin Nifty expiry today, the index was also volatile. It created spikes on the put sides initially, but the premiums cooled down later. The index was trading in a 100-point range with volatile moves after the initial fall of 200 points from the opening.

Make sure directional trades are taken only after confirmation and re-test of the levels.

How did FIN NIFTY expiry go? Let us know in the comments section of the marketfeed app.

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

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Daily Market Feed Post Market Analysis

Bullishness Confirmed in Nifty!  – Post-Market Analysis

NIFTY started the day at 19,598 with a small gap-down of 12 points. After an initial fall of 50 points to 19,550 levels, the index made a strong uptrend rally of nearly 200 points to 19,750 levels. Nifty closed at 19,727, up by 116 points or 0.59%.

Nifty chart Sept 7 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 44,418. The index moved up nearly 350 points till 44,700 zones, took rejection, and fell till the opening levels. But then, similar to Nifty, BNF also showed bullishness and rose to 44,900. BNF closed at 44,878, up by 469 points or 1.06%.

Bank Nifty chart Sept 7 - post-market analysis | marketfeed

All indices except Nifty FMCG (-0.4%) and Nifty Pharma (-0.32%) closed flat-to-green. Nifty Realty (+1.48%) moved up the most.

Major Asian markets closed up to 1.3% in the red. European markets are currently trading mixed.

Today’s Moves

Coal India (+7.1%) was NIFTY50’s top gainer. The stock hit over a four-year high of ₹274.75.

Cochin Shipyard (+20%) hit a 52-week high of ₹1,146.15 on the back of a strong business outlook.

Other defence stocks like Mazagon Dock Shipbuilders (+9.5%) and Paras Defence (+4.08%) closed with strong gains today. 

Tata Consumer (-2.3%) was NIFTY50’s top loser. Yesterday, the FMCG company denied reports that it was in talks to buy a stake in Indian snack food chain Haldiram’s.

GSFC (-7.3%) fell sharply today.

Brightcom Group (-5.04%) fell for the eleventh consecutive session. The stock has been in a free fall as the company battles an investigation regarding the impairment of assets worth ₹868 crore via its international subsidiaries.

Markets Ahead

We knew about the importance of 19,600 levels in Nifty and talked about how if this level was crossed, we could expect a turnaround in the markets. And we witnessed this in both Nifty and Bank Nifty today.

Now, we could consider buying during dips in Nifty. In Bank Nifty, focus on the 45,000 round level. If it holds, it’s important to watch for the resistance level to be crossed for confirmation in the banking index as well.

Nifty: The major resistance level has been broken and the index gave a breakout. Now, the important support for Nifty will be the 19,620-640 zone. A breakdown from there can give us targets of 19,560 and 19,500. The immediate resistance to watch out for will be 19,740. A breakout from this level will take the index to 19,780 and 19,840 levels.

Bank Nifty: Reversal levels and important round level resistance is at 45,000. If there’s a breakout from 45,000, we could consider a buy-on-dips strategy with a target of 45,120 and 45,370 levels. The immediate support level to watch out for is 44,550-600. A breakdown from there can give us targets of 44,200 and 44,000.

Thursdays are now dedicated to Nifty expiry. As a result, the open interest (OI) per strike has doubled. Today, there were an astonishing 10 lakh open contracts. This surge is because Bank Nifty traders have shifted their positions to Nifty after closing their positions in Bank Nifty expiry on Wednesday.

When a large number of contracts go into trouble, it can trigger a rapid short-covering rally. This is precisely what happened today. The low volatility (low Vix) market today created problems for non-directional option sellers as call premiums surged 10 to 20 times within a short period in the second half of the day. This forced all call sellers to book losses. On the other hand, it was a favourable day for directional traders who accurately predicted the upside and held their positions until the end.

How did expiry day trading go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune in to The Stock Market Show at 7 PM on our YouTube channel!

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Daily Market Feed Post Market Analysis

Markets at Resistance Zones! Jio Financial Gets Listed – Post-Market Analysis

Nifty - post-market analysis | marketfeed

Post-Market Analysis for August 21, 2023:

NIFTY started the day at 19,320 with a small gap-up of 10 points (above the support zone of 19,300). Initially, the index tested the 19,300 round level, and then there was a steady up-move of 120 points to 19,420 levels (which is also a major resistance zone). Nifty closed at 19,393, up by 83 points or 0.43% 

Nifty chart Aug 21 - post-market analysis

BANK NIFTY (BNF) started the day at 43,952 with a gap-down of 101 points. The index moved in the range of the first 5min candle initially, and then gradually went up to 44,100 levels to make a triple-top near that zone. It took rejection there and fell nearly 150 pts after 3 PM. BNF closed at 44,002, up by 150 points or 0.34%. 

Bank Nifty chart Aug 21 - post-market analysis

All indices except Nifty PSU Bank (-0.6%) and Nifty Media (-0.29%) closed in green. Nifty Metal (+1.3%) moved up the most. 

Major Asian markets closed mixed. European markets are currently trading up to 1.1% in the green.

Today’s Moves

Bajaj Finance (+2.7%) was NIFTY50’s top gainer.

Tamilnad Mercantile Bank (+18.19%) hit a 52-week high of ₹581 amid buying action in banking and financial sector stocks. 

NMDC Steel (+12.49%) surged after reports stated that the company’s disinvestment process could pick up after its new plant gets commissioned.

Reliance (-1.4%) was NIFTY50’s top loser. Shares of Jio Financial Services got listed at ₹265 on BSE and ₹262 on NSE today. The stock hit a 5% lower circuit after listing.

Tanla Platforms (-5.76%) fell sharply after the company said it will be ending its partnership with Vodafone Idea in November.

Brightcom Group (-4.9%) shares were locked in lower circuit despite the company claiming it posted strong Q1 FY24 results.

Markets Ahead

Major indices are currently trading near resistance zones, but good support was taken from important levels in both Nifty and Bank Nifty. The indices are still in a downtrend over the past 4 weeks. And if there’s a gap down or down move after a flat opening tomorrow, the indices can turn bearish again. If there’s a gap up above the resistance zone or a flat opening with upside movement, we can expect the indices to turn bullish. 

Nifty: The index is at the top of the down-trending channel. The important resistance to watch out for is clearly 19,420 levels, and the important support zone is 19,300 and 19,350 levels (which is also the previous swing). A breakout on the upside will clear the down-trending channel resistance and horizontal resistance to give an up-move till 19,500-520 levels.

Bank Nifty: The index is currently trading within a range, consistently encountering resistance around the 44,100 mark and finding support near the 43,750 level. A potential upward breakout could lead to targets of 44,300 and even 44,500, while a breakdown may set targets at 43,400.

Fin Nifty: Being Fin Nifty expiry tomorrow, it’s crucial to monitor key levels. The significant support level to observe is today’s low of 19,500. On the other hand, the imp resistance point is at 19,620, where the index has faced repeated rejections. A successful breakout above this could lead to targets of 19,700 and 19,770. On the other hand, if there’s a breakdown, targets could be at 19,440 and 19,340 levels.

What levels are you watching out for FIN NIFTY expiry tomorrow? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!