Tag: crudeoil

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Another Gap-Up Opening! Buzz in HDFC Stocks – Share Market Today

News Shots 

Infosys is shifting its services from Russia to its other global delivery centres.

Dr Reddy’s Laboratories said it has inked a pact with Novartis AG to acquire the cardiovascular medicine brand Cidmus in India for $61 million (about Rs 463 crore).


Indian Oil Corporation said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast.

Maruti Suzuki India aims to sell 4-6 lakh CNG units in the current fiscal year depending upon the supply situation of essential components.

HDFC said it has posted a 12 per cent growth in individual loans at Rs 8,367 crore for the fourth quarter ended March 31.

HDFC board approves merging of HDFC Investments and HDFC Holdings with parent company HDFC. There is also an announcement of the merger of HDFC and HDFC Bank themselves which will make it India’s largest company!

What to expect? 

On Friday, NIFTY opened with a small gap-down at 17,438 and moved higher. There was resistance around 17,550 which was broken towards the end. 17,600 was broken with heavy strength and NIFTY closed the day at 17,670, up by 206 points or 1.18%.

BANK NIFTY opened lower at 36,253 and a fantastic rally followed. 37,000 was crossed and BNF finally closed the day at 37,149. Up by 775 points or 2.13%.

All the sectors moved higher whereas Pharma consolidated.

The US markets and the European markets closed in the green on Friday.

The Asian markets are trading mixed. The U.S. Futures trading in red and the European futures are trading higher.

SGX NIFTY is trading at 17,723 indicating a gap up opening.

NIFTY has supports at 17,600, 17,400 and 17,320. We can expect resistances at 17,800, 17,900 and 18,000.

BANK NIFTY has supports at 36,800, 36,500 and 36,300. Resistances are at 37,400, 38,000 and 38,200.

NIFTY has the highest call OI build-up at 18,000. The highest put OI build-up is at 17,500.

BANK NIFTY has the highest call OI build-up at 38,000 and the largest put OI build-up is at 36,500.

INDIA VIX is at 18.4.

Foreign Institutional Investors net bought shares worth Rs 1,900 crores. Domestic Institutional Investors net sold shares worth Rs 183 crores. 

That was a very strong close for NIFTY on Friday. Also, there was a price burst in the last hour leading to a close above 17,650. The next level to watch would be 17,800 and for the same reason, where pre-market settles is crucial. 17,800 is a major resistance and considering the pace of the up-move, we cannot rule out the chance for a profit-booking.

There is no major positive update from Ukraine except for Putin’s warning that Russia would mandate payment in Rubles for other goods as well.

I will be watching 17,800 on the upside and 17,500 on downside for the beginning of the week. There is also a buzz around HDFC and HDFC Bank, so watch out for movement in these stocks!

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New Financial Year! Sgx Nifty Down – Share Market Today

News Shots 

Vedanta entered into certain long term power security agreements for green and renewable energy (RE) power for Hindustan Zinc, Bharat Aluminum Company and Vedanta (Jharsuguda Aluminium Operations) via captive power projects. These projects will be created through dedicated special purpose vehicle (SPV) for each entity.

Nuvoco Vistas Corporation made timely payment of redemption amount and interest for its non-convertible debentures of Rs 400 crore.

Sterlite Technologies signed the definitive agreement to sell its 64.98% stake in Maharashtra Transmission Communication Infrastructure (MTCIL). Total consideration of Rs 43 crore agreed to be received in multiple tranches.

Ruchi Soya Industries board has approved issue price at Rs 650 per equity share for its follow-on public offer.

H G Infra Engineering: subsidiary Gurgaon Sohna Highway Private Limited has received the provisional certificate for the project in Haryana.

What to expect? 

NIFTY opened with a small gap-up at 17,522 and moved in a downward channel. Though there were volatile moves, it was net consolidation and NIFTY closed the day at 17,465, down by 34 points or 0.19%.

BANK NIFTY opened at 36,464 and started moving down. But this was followed by a good up-move where BNF faced rejection and a sell-off followed. BANK NIFTY managed to close in the green at 36,374,up by 39 points or 0.11%.

FMCG moved up whereas Pharma fell.

The US markets closed in the red. The European markets also moved down yesterday.

The Asian markets are trading mixed. The U.S. Futures and the European futures are trading higher.

SGX NIFTY is trading at 17,463 indicating a gap-down opening.

NIFTY has supports at 17,440, 17,390, 17,350 and 17,250. We can expect resistances at 17,620, 17,700 and 17,800.

BANK NIFTY has supports at 36,250, 36,000, 35,900 and 35,700. Resistances are at 36,500, 36,600, 36,900 and 37,000.

INDIA VIX is at 20.5.

Foreign Institutional Investors net bought shares worth Rs 3,000 crores. Domestic Institutional Investors net bought shares worth Rs 1,100 crores. 

The US and European Futures were in the green just before opening whereas Asian markets were down as the PMI data from China was unsatisfactory. However, Crude oil prices fell as the US announced plans to release strategic oil reserves. This led to the gap-up.

The fall was led by Reliance. This can be attributed to Jio losing users and crude oil prices falling as Reliance has major earnings from oil refining.

Putin said that the gas supply will be halted if the payment is not made in Rubles. He added that special accounts have been created for the purpose of transferring Forex and the bank would then buy Rubles.

Foreign Institutional Investors turning buyers is a very good sign for our market. 

We have data coming out today. GST data and Auto sales data are the main ones. We can also watch European Union CPI inflation data.

I will be watching 17,550 on the upside and 17,350 on the downside.

With yesterday’s expiry, it is end to the financial year where we saw Nifty giving a returns of 19%.  How was your financial year? Let us know in the comments section.

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Crude Oil Drops and Sgx Nifty Rallies – Share Market Today

News Shots 

Tata Steel transferred its entire stake in Tata Steel Special Economic Zone Limited to Tata Steel Utilities and Infrastructure Services for consideration other than cash. 

Nazara Technologies subsidiary Nazara Pte Ltd (Nazara Singapore) will invest $2.5 million in BITKRAFT Funds. Out of which $0.875 million will invest upfront while the balance investment amount of $1.625 million will be deployed over a period of three years.

ONGC’s two-day offer for sale issue will close on March 31. 

Axis Bank has acquired Citibank’s India consumer business from Citibank N.A. and the NBFC consumer business from Citicorp Finance (India), as going concerns, without values being assigned to individual assets and liabilities to either business. The bank has executed business transfer agreements with Citibank N.A. and Citicorp Finance (India) on March 30. The cost of acquisition is Rs 12,325 crore.

Quess Corp board has approved the transfer of digital business undertaking of the company comprising Qjobs, Worq, and Dash as a going concern on a slump sale basis to the company’s subsidiary Billion Careers Private Limited (BCPL), for Rs 5.04 crore. 

Godrej Properties has acquired a nine-acre land parcel in the residential micro-market of Pimpri-Chinchwad in Pune. The development will primarily be for a group housing project.

What to expect? 

NIFTY opened with a gap-up at 17,450. There was profit booking as it was a huge gap-up but an immediate up-move followed. Resistance at 17,500 pushed the index lower to even 17,420 but the index finally managed to close at 17,498, up by 173 points or 1%.

BANK NIFTY opened with a gap-up at 36,205 and followed the trend of the general market. But there was a sideways market in the second half and BANK NIFTY closed at 36,334, up by 486 points or 1.36%.

Metals fell.

The US markets closed in the red. The European markets were mixed with FTSE moving up and DAX closing 1.4% in the red.

The Asian markets are down. Nikkei is flat. The U.S. Futures and the European futures are trading higher.

SGX NIFTY is trading at 17,588 indicating a gap-up opening.

NIFTY has supports at 17,450, 17,390, 17,350 and 17,250. We can expect resistances at 17,620, 17,700 and 17,800.

BANK NIFTY has supports at 36,250, 36,000, 35,900 and 35,700. Resistances are at 36,450, 36,600, 36,900 and 37,000.

NIFTY has the highest call OI build-up at 18,000 followed by 17,500 and 17,800. The highest put OI build-up is at 17,200 followed by 17,500.

BANK NIFTY has the highest call OI build-up at 37,000 and the largest put OI build-up is at 36,000.

INDIA VIX dropped to 20.6.

Foreign Institutional Investors net bought shares worth Rs 1,400 crores. Domestic Institutional Investors net bought shares worth Rs 1,200 crores. 

Apollo Hospitals will replace Indian Oil Corporation in NIFTY50 from today. Bank of Baroda will replace RBL in Bank Nifty. This is done as a part of the semi-annual index review.

The Cabinet has approved amendment in mega power policy 2009 for Provisional Mega Power Projects. Watch Tata Power.

RBI has released the schedule of Monetary Policy Committee meetings with next meeting on 6th April. We will have to see whether the repo rate will be hiked or not.


TRAI data indicated that Jio lost 9 Million users in January whereas Airtel gained 7 lac users.

US released the GDP data for the quarter and the growth is 6.9% which is around the expected 7%. The US markets reacted negatively to the news as it is lower.

Biden said that the US will be releasing crude oil from the strategic reserves soon and this led to the drop in the crude oil prices. The prices have fallen by 4%. This will be good for our market.

Thought the US futures are in the green, we do not have enough support from Asian markets which are down due to the unsatisfactory PMI data from China as a result of the lockdown related restrictions. At the same time, Nikkei recovering well from gap-down opening is a good sign.

Ukraine President Zelensky said that the Russia has not yet withdrawn forces and is adding forces in Kyiv. Russia gave an explanation for the same saying that it is a measure to prevent Ukrainian forces from moving to the east. There were contradictory updates from the zone. The latest update is that the Russian representative said there has been no progress in the talks.

With VIX dropping, the premium has melted in deeper strikes and this will make it difficult for the conservative option sellers on the expiry day. There is a good straddle built at 17,500 with a sum of around 120 points. This coincides with the upper resistance of 17,620. I will be closely watching for rejection at this level if there is an up-move.

Remember that we had a premium sum of 180 last week. This means that there is a drop by 33% indicating drop in volatility. Let us watch 17,390 on the downside.

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Mixed Reaction to the Positive Shift in Peace Talks – Share Market Today

News Shots 

GAIL India approved second interim dividend of Rs 5 per equity share, 50% of the paid up share capital.

Lupin received U.S. FDA approval for its Abbreviated New Drug Application (ANDA), Vigabatrin for Oral Solution USP, 500 mg to market a generic equivalent of Sabril for Oral Solution, 500 mg of Lundbeck Pharmaceuticals.

The Reserve Bank of India has allowed HDFC Bank to resume new digital initiatives, removing all previous curbs.

The Reserve Bank of India has barred Paytm Payments Bank from adding new customers.

Tech Mahindra acquired Thirdware Solutions for $42 million.

IDBI Bank executed an investment agreement in National Asset Reconstruction Company for 5% stake.

Torrent Power completed acquisition of Surya Vidyut that operates 156 MW Wind power plants spread across the states of Gujarat, Rajasthan, and Madhya Pradesh.

What to expect? 

NIFTY opened with a small gap-down at 16,537 and had a consolidating day. There was an up-move which was stopped by the resistance 16,700. The index closed at 16,630, up 56 points or 0.2%.

BANK NIFTY also had a flat day. There was a good buying pressure in the morning but the index chose to consolidate in the second half. BANK NIFTY closed the day at 34,546, up 70 points or 0.2%.

Pharma moved higher.

The US markets closed in the red. The European markets had a green close.

The Asian markets are mixed with Nikkei trading higher and Hang Seng trading well in the red . The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 16,555. All the factors combined indicate a flat opening.

NIFTY has supports at 16,500, 16,450 and 16,320. We can expect resistances at 16,650, 16,700 and 16,800.

BANK NIFTY has supports at 34,150, 34,000 and 33,600. Resistances are at 34,800, 35,200 and 35,500.

NIFTY has the highest call OI build-up at 17,000 and the largest put build-up at 16,000.

BANK NIFTY has the largest call OI build-up at 36,000 and the largest put OI build-up at 33,000.

INDIA VIX  is at 25.3.

Foreign Institutional Investors net sold shares worth Rs 2,300 crores. Domestic Institutional Investors net bought shares worth Rs 1,700 crores. 

The war has intensified with Russian forces inching closer to Kyiv. Though there were positive sentiments in the markets after Putin said that there has been a positive shift in the talks, Ukraine’s foreign minister said that there has been no ceasefire and absolutely no progress in the talks. Zelensky hopes for an end to the war in talks but he added that if the war continues, he and his men are ready to fight till death.

The latest update from the war zone is that both the Russian and Ukrainian representatives have said that there are positive outcomes in the new talks that were conducted online and a result will be attained in the coming days, leading to positivity in the Global futures.

The market will first react to the Industrial Output data which came out at 1.3% against an expected 0.9%. We have February CPI data to be out today.

Another major concern we have now is the Covid spread in China. Lockdown has been imposed in some of the cities as cases are spreading at a much higher rate.

It is going to be a tough time for BANK NIFTY with HDFC Bank getting sold heavily. Being a heavyweight, it is continuously dragging both the major indices.

I will be watching 16,700 on the upside and 16,450 on the downside. 

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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US Inflation Again at a 40 Year High – Share Market Today

News Shots 

Colgate Palmolive Managing Director and CEO Ram Raghavan has been promoted to president of the company’s enterprise oral care division.

Wipro announced a long-term partnership with Pandorum Technologies for development of technologies that shorten time-to-market and maximise patient outcome during R&D and clinical trials of regenerative medicine.

Indraprastha Gas eceived a letter of intent from the Petroleum and Natural Gas Regulatory Board for for development of CGD network in Banda, Chitrakoot and Mahoba in Uttar Pradesh.

Infosys announced a multi-year transformational collaboration with International Tennis Hall of Fame, making the company ITHF’s official digital innovation partner and title sponsor of the annual ATP Tour tournament — the Infosys Hall of Fame Open.

What to expect? 

NIFTY opened with a huge gap-up at 16,757 and moved down. But 16,610 offered a good support. However, NIFTY was unable to cross the day-high. There was a major sell-off in the noon and NIFTY closed the day at 16,594, up 250 points or 1.53%.

BANK NIFTY also opened with a gap-up at 34,953. The index moved up further but was pushed down by the resistance at 35,400. The second half sell-off took the index down and BANK NIFTY closed the day at 34,476, up 660 points or 1.95%.

All sectors except for IT moved higher.

The US markets closed in the red yesterday. The European markets fell.

The Asian markets are trading well in the red now.. The U.S. Futures and the European futures are trading in the red.

SGX NIFTY is trading at 16,520 indicating a gap-down opening.

NIFTY has resistances at 16,650, 16,700 and 16,800. We can expect supports at 16,500, 16,450 and 16,320.

BANK NIFTY has supports at 34,150, 34,000 and 33,600. Resistances are at 34,800, 35,200 and 35,500.

Open Interest data will not help much today.

INDIA VIX  dropped to 25.6.

Foreign Institutional Investors net sold shares worth Rs 2,000 crores. Domestic Institutional Investors net bought shares worth Rs 900 crores. 

DAX had moved up very well on hope of an end to the war. The US markets also moved up and as a result, Asian markets opened with a gap-up and continued the rally. Nifty followed the global sentiments and opened with a gap-up. Huge intraday volatility was expected as it was a big gap-up and also, the election results were to be declared. We had a major sell-off in the second half disrupting the positions of traders.

Zelensky said that Putin will not stop with Ukraine and the west will have to put an end to it. The Ukaine foreign ministry said that there has been no progress in ceasefire. However, UK defence ministry reported less air activity. There is still uncertainty in the zone.

The election results were appealing to the market as the ruling party BJP could retain power in Uttar Pradesh and got into power in other states as well. Punjab saw the rise of AAP as expected. This will be a boost to the market sentiments.

The US inflation data was out at 7.9%, a 40 year high again. This has led to the negative sentiments in the global markets now.

I will be looking at 16,750 on the upside and 16,400 on the downside.

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Elections Results: Get Ready For A Volatile Expiry! Share Market Today

 News Shots 

Jindal Stainless (Hisar) became the first company producing coils, sheets and plates in the country to be certified with AS 9100D Certification—a quality management system for aviation, space and defence organisations.

Bharti Airtel agreed to aquire a little over 9% equity stake in Avaada CleanTN Project, a special purpose vehicle for owning and operating the captive power plant. The deal value is pegged at Rs 7.88 crore.

Future Lifestyle received termination notices on sub-leased properties from Reliance entities. Notices pertain to 34 Central stores and 78 Brand Factory stores that contribute 55-65% of retail revenue operations.

PNB Housing Finance approved proposal to raise Rs 2,500 crore by way of issue of equity shares on rights issue basis to eligible shareholders.

Uttam Sugar has redeemed 1,00,000, 6.50% non-cumulative redeemable preference shares of Rs 100 each.

Restaurant Brands Asia has completed acquisition of 87.75% stake in Burger King Indonesia (PT Sari Burger Indonesia).

What to expect? 

NIFTY opened with a gap-up at 16,082 and moved up. It spent time at 16,150 before a fantastic breakout. There was resistance at 16,320 in the noon but NIFTY managed to break the level and close at 16,345, up 332 points or 2.07%.

BANK NIFTY opened flat at 33,159 and showed weakness. The index consolidated till noon before it gave a breakout that has begun the gap-filling. BANK NIFTY closed the day at ,815, up 657 points or 1.98%.

All sectors except for Metals moved higher.

The US markets closed more than 2% in the green. The European markets gave a fantastic rally with DAX moving up by nearly 8%.

The Asian markets are trading well in the green now. The U.S. Futures and the European futures are trading slightly in the red.

SGX NIFTY is trading at 16,630 indicating a huge gap-up opening.

NIFTY has supports at 16,320, 16,240 and 16,170. We can expect resistances at 16,410, 16,500 and 16,610.

BANK NIFTY has supports at 33,600, 33,200 and 32,900. Resistances are at 34,150, 34,400 and 34,800

NIFTY has the highest call OI build-up at 17,000 followed by 16,800 and the highest put OI build-up is at 16,000 followed by 16,200.

BANK NIFTY has the highest call OI build-up at 35,000 and the highest put OI build-up at 33,000 ignoring the deeper strikes.

INDIA VIX  dropped to 27.5.

Foreign Institutional Investors net sold shares worth Rs 4,800 crores. Domestic Institutional Investors net bought shares worth Rs 3,300 crores. 

With Zelensy saying Ukraine no longer has expectation of joining NATO as he believes NATO is not prepared to confront Russia, the markets moved higher. This is because it was the demand for NATO membership that sparked the invasion. The world expects a shift to diplomatic dialogues from this aggressive war. Also, Putin said that they have no intention to overthrow the government in Ukraine. All these point out a possibility of an end to the war.

However, we must not forget the sanctions that have been imposed on Russia. These will continue to have an impact on the global economy. Also, the war would end only if all the demands of Russia are met as we discussed yesterday. As you know, any war has much longer repercussions in every aspect.

The European markets had a phenomenal rally yesterday. DAX moved up by nearly 8% in a single day! Crude oil prices have fallen though still at a higher price compared to the pre-war period.

IT was firing in the morning and BANK NIFTY was struggling. But the Banking sector broke out of the consolidation zone in the noon and contributed heavily to NIFTY. Looking at the charts, IT is just at the swing point and Bank Nifty is on the way to fill the gap. Be it Nifty or Bank Nifty, both the indices spent enough time consolidating before giving a fine breakout and sustained the move in the second half adding confidence to the bulls.

SEBI has approved LIC IPO. This would mean that there will be pressure on the big players to keep the market strong enough to be prepared for the IPO. It would also mean that liquidity will get sucked out of the secondary market. 

The highlight of the day is the election results. The outcome of five states will be out today including Uttar Pradesh. If the ruling party BJP suffers a setback in UP, it can lead to a fall in the markets. So the conservative traders can wait for the counting to settle a bit to get an overall picture and then only enter as there can be huge volatility.

Where the Pre-Market settles will be significant today as Sgx Nifty shows quite a big gap. 16,700 should be the upper limit for the expiry day unless news drives the market.

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US Bans Russian Energy Imports; Oil on Boil! Share Market Today

News Shots 

Dish TV has disclosed the results of its annual general meeting held on Dec. 30, after SEBI’s order directing it to do so. All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing.

Zydus Lifesciences subsidiaries entynl Therapeutics and BridgeBio Pharma executed an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection.

Bharat Forge subsidiary Kalyani Strategic Systems has incorporated Sagar-Manas Technologies, a joint venture with Open Joint Stock Company Dastan Transnational for up-gradation and manufacturing/ providing solutions for marine and defence products.

Atul has completed the expansion of its Sulphur Black manufacturing facility, thus increasing the production capacity from 9,800 tonnes per annum to 26,000 tonnes per annum.

Indian Overseas Bank has reduced the base rate to 8.10% from the existing of 9.10% effective from March 10, 2022.

Jindal Stainless said it sources majority of its nickel from scrap, and dependence on Russia for raw material is minimal.

What to expect? 

NIFTY opened the day with a gap-down at 15,755 and moved up. But the index faced resistance at 15,900 and started falling. There was a good bounce-back in the second half and NIFTY shot up by 350 points in the end, closing the day at 16,013, up 150 points or 0.95%.

BANK NIFTY opened with a gap-down at 32,560. The index took support just below 32,200 and moved up by nearly 1,000 points, closing the day at 33,158, up 287 points or 0.87%.

Metals went down by 1.5% yesterday after a good up-move on Monday.

The US markets had one of the most volatile days finally closing the day 0.5% in the red. The European markets could close flat yesterday after opening with a gap-down.

The Asian markets are mixed. The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 15,931 indicating a gap-down opening.

NIFTY has supports at 15,940, 15,900, 15,750 and 15,670. We can expect resistances at 16,130, 16,240, 16,340 and 16,410.

BANK NIFTY has supports at 32,800, 32,500 and 32,200. Resistances are at 33,250, 33,550 and 34,000.

NIFTY has the highest call OI build-up at 17,000 and the highest put OI build-up is at 15,000.

BANK NIFTY has the highest call OI build-up at 34,500 and the highest put OI build-up at 32,000. 

INDIA VIX  is at 29.33.

Foreign Institutional Investors net sold shares worth Rs 8,100 crores. Domestic Institutional Investors net bought shares worth Rs 6,500 crores. 

The US has imposed a ban on Russian energy imports. The UK also has decided to phase out Russian imports by the end of 2022. This has taken crude oil prices back to $130. France continues to support Ukraine through military supplies and said that more sanctions on Russia are under consideration.

President Zelensky said that Ukraine is no longer pressing for NATO membership as he thinks NATO is not yet ready to take Ukraine in. This is an indication that the war may end soon. But the repercussions will last longer. Also, Russia no longer has the only demand of Ukraine withdrawing from NATO request and the war will be over only if all the demands of Russia are met.

Nirmala Sitharaman said in India Global Forum that the government sees scope for revenue in crypto through taxes. She added that 45 unicorns in two years is a huge achievement for Indian youth.

With European markets moving up after opening, our markets also moved up closing above 16,000 which is a good sign. However, it will be hard for the market to have an up-move with such a huge fall from the high. 

IT is performing well. TCS moved up by more than 3% yesterday. There was also a significant contribution from BANK NIFTY in the second half. It is very important for NIFTY to close above 16,000 today. 

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Global Markets Down; Sgx Nifty Indicating Another Gap-Down Opening – Share Market Today

News Shots 

NLC India declared interim dividend of Rs 1.5/share.

Metro Brands declared interim dividend of Rs 1.5 per share. Chief Operating Officer Sahel Kamdar resigned.

Future Retail shareholders and creditors to meet on April 20-21 to discuss the Reliance deal.

SEBI passed an interim order against Dish TV, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations.

Geojit Financial Services promoter BNP Paribas sold 80,000 shares on Feb. 28.

Hinduja Group bought 2.96 lakh shares (0.03% stake) of Indusind Bank at Rs 839 apiece.

What to expect? 

NIFTY opened the day with a huge gap-down at 15,863 and moved further down. There was a bounce back to 15,940 but there was strong resistance which led the index to close at 15,863, down 382 points or 2.35%.

BANK NIFTY opened with a huge gap-down at 33,250. The index had gone down below the Pre Covid level but the last hour buying added some points to BANK NIFTY. The index closed at 32,871 , down 1536 points or 4.47% down.

Auto fell by more than 4% whereas Metals moved up by 2%.

The US markets fell heavily in the second half. The European markets fell yesterday with DAX closing more than 3% in the red.

The Asian markets are nearly 1% down. The U.S. Futures are flat whereas the European futures aretrading in the green.

SGX NIFTY is trading at 15,750 indicating a gap-down opening.

NIFTY has supports at  15,700, 15,600 and 15,500. We can expect resistances at 15,940, 16,000  and 16,130.

BANK NIFTY has supports at 32,500, 32,400 and 32,000. Resistances are at 33,000, 33,200 and 33,500.

NIFTY has the highest call OI build-up at 16,500 and the highest put OI build-up is at 15,000 excluding deep strikes.

Similarly, BANK NIFTY has the highest call OI build-up at 34,500 and the highest put OI build-up at 32,000. 

INDIA VIX  is at 29.33.

Foreign Institutional Investors net sold shares worth Rs 7,500 crores. Domestic Institutional Investors net bought shares worth Rs 5,300 crores. 

With the reports that the US is consulting with the European nations to decide on cutting imports of crude oil from Russia as we discussed yesterday, crude oil spiked and this led to the heavy fall we saw. The Asian markets and the European markets were significantly down in the first half but the European markets were able to recover to an extent. 

The EU nations are reportedly planning to reduce the dependency on Russian gas by 80%. Putin has threatened to cut the gas supply through Nord Stream 1. White House said that it is going to be tough time ahead.

Another highlight of the day was the NSE glitch where the indices did not get updated on time. This is why you can see a huge red candle in many platforms. Make sure that you stay away from the market on days with such glitches once you get the first indication. 

The exit polls results were out yesterday as the final phase of the elections is over. It favoured BJP in Uttar Pradesh and AAP in Punjab. Let us wait for the results on Thursday.

After Macron’s request to Putin, humanitarian corridors were opened in multiple cities in Ukraine. The World Court hearing has begun on Ukraine invasion but Russia did not appear. Also, there were reports that Russia demanded Ukraine to consider Crimea as Russian territory, recognise Donetsk and Luhansk and also make changes to their constitution.

I will be watching 15,600 on the downside.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Crude Oil Touches $130; Markets Down – Share Market Today

  News Shots 

Wipro appointed Nicolas (Nic) Parmaksizian as chief executive officer of Designit.

Reliance Industries announced opening of Jio World Centre in Mumbai’s Bandra Kurla Complex.

BKT commenced commercial production of Brown Field Expansion and Debottlenecking Project at BHUJ Plant. The production of tyres will be increased upto 50,000 MTPA.

Rajratan Global Wire approved stock split of one share of Rs 10 each into five shares of Rs 2 each on March 16.

Info Edge invested Rs 91 crore in Asia Network for 76% stake

Nazara Technologies approved issuance Rs 25 crore of shares to shareholders of Datawrkz, to hold 33% stake in Datawrkz after deal.

What to expect? 

NIFTY opened the day with a gap-down at 16,362 on Friday. The sell-off continued but support was taken at 16,130 and bounced back. Resistance at 16,450 pushed NIFTY down and the index closed at 16,245, down 253 points or 1.53%.

BANK NIFTY opened with a gap-down at 34,574 but managed to find support at 34,100. The index attempted to cross 35,000 but there was stiff resistance and the index closed at 34,408, down 537 points or 1.54%.

Auto and Metals continued to fall whereas IT closed in the green.

The US markets closed in the red but the fall was much less compared to the European markets that closed more than 3% in the red.

The Asian markets fell heavily with Nikkei and Hang Seng trading more than 3% in the red. The U.S. Futures and the European futures are trading lower, DAX futures being 3% in the red.

SGX NIFTY is trading at 15,800 indicating a huge gap-down.

NIFTY has supports at 16,130, 16,000, 15,900 and 15,600. We can expect resistances at 16,340, 16,410 and 16,500.

BANK NIFTY has supports at 34,000, 33,900 and 33,400. Resistances are at 34,900, 35,000 and 35,250.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000. The highest put OI build-up is at 15,000 followed by 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 33,000. It is a wide range as it is uncertainty ruling the market. 

INDIA VIX  is at 28.

Foreign Institutional Investors net sold shares worth Rs 7,600 crores. Domestic Institutional Investors net bought shares worth Rs 4,700 crores. 

There are reports that the US is consulting with the European nations to decide on cutting imports of crude oil from Russia. This has led to the spike in crude oil, which is now at $130! With this, markets worldwide have fallen heavily.

 As you know, the elections are getting over today in India and you can expect a hike in the fuel prices leading to overall inflation. The UP exit polls will be out tonight.

FIIs continue their selling spree. They have net sold shares 7,600 crores on Friday and the weekly figures stand at Rs 23,000 crores.

Russia is continuing its invasion of Ukraine. Putin allowed ceasefire for evacuation of cities on humanitarian grounds but there were reports of ceasefire violations. He said that the western sanctions are equal to a declaration of war and a no fly zone if imposed will be seen as direct involvement in the war. There was no clear resolution in the previous round of talks and the third round of talks is expected to happen on Monday but Putin wants all of the Russian demands to be accepted.

The markets may touch the 15,600-15,900 zone which will be a strong support zone. Let us see what happens here.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Daily Market Feed Pre Market Report

Markets Down Again; Nifty To Open With a Gap-down – Share Market Today

  News Shots 

Vodafone Idea will raise up to Rs 4,500 crore by issuing 338.35 crore preferential equity shares to entities controlled by promoters Vodafone Group Plc and Aditya Birla Group.

SJVN will receive a loan of Rs 1,537 crore from State Bank of India and Rs 319.04 crore from Punjab National Bank for a hydel project in Himachal Pradesh and solar power project in Uttar Pradesh, respectively.

LT Foods has acquired 51% stake in Golden Star Trading Inc. through its subsidiary LT Foods America Inc. with a call option to acquire 49% stake after three years.

IndiaMart Intermesh has entered into an agreement to invest Rs 17.01 crore in Zimyo for 10% stake.

Gujarat Alkalies received a patent from the US Patent and Trademark Office for process for production of hydrazine hydrate.

What to expect? 

NIFTY opened with a gap-up at 16,736. But the gap-up was sold into. This was followed by a steeper fall even breaking 16,500 in the second half. NIFTY finally closed the day at 16,498, down 108 points or 0.65%.

BANK NIFTY opened with a gap-up at 35,683 and fell heavily. 34,900 was closely watched by the market participants breaking which we would see a huge fall. But BANK NIFTY was able to close the day at 34,944, down 428 points or 1.21%.

Metals and IT closed in the green.

The US markets closed in the red yesterday. The European markets also moved down.

The Asian markets are down with NIKKEI trading 2% in the red. The U.S. Futures and the European futures are trading lower.

SGX NIFTY is trading at 16,250 indicating a huge gap-down.

NIFTY has supports at 16,370, 16,250 and 16,000. We can expect resistances at 16,570, 16,660 and 16,700.

BANK NIFTY has supports at 34,900, 34,700 and 34,500. Resistances are at 35,230, 35,330 and 35,650.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 35,000.

INDIA VIX  is just below 30, at 29.2.

Foreign Institutional Investors net sold shares worth Rs 6,600 crores. Domestic Institutional Investors net bought shares worth Rs 4,800 crores. 

As Jerome Powell said on Wednesday that Fed would go for a 25 basis points hike rather than an aggressive 50 basis points hike, the US markets moved higher on Wednesday and that boosted the market sentiments in Asia. As a result, NIFTY opened with a gap-up. The Asian markets closed in the green but our gap-up was sold into. The story does not end there. We fell even further. 

The fact that we import 85% of the crude oil draws the correlation of our economy to the crude oil prices. Crude oil had almost touched $120 and this might have been a major factor for the fall. The US futures stood strong when we were falling indicating the localisation of negativity.

FII selling is another major reason. Look at the figures of FII selling for the past days and you will be amused by the aggression.

There were reports that the largest nuclear power plant in Ukraine was attacked by Russia. This led to the drastic fall in US futures which has recovered to an extent now. The Foreign Minister tweeted that if the plant explodes, it could be much more disastrous than the Chernobyl explosion. However, it is reported that the strike was outside the perimeter and the shelling has stopped. Also, there is no radiation level rise at the plant.

The level of 34,900 in BANK NIFTY continues to be the saviour for the market yesterday as well. But we will have to accept the magnitude of negativity in the financial sector. I will be watching 16,250 today.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Daily Market Feed Pre Market Report

Expiry Day Special: US Rebound – Share Market Today

 News Shots 

Vedanta board has approved a third interim dividend of Rs 13 per equity share for the financial year 2021-22. 

Swan Energy said the board on March 5 will consider fundraising of up to Rs 2,000 crore.

Hind Rectifiers received orders worth Rs 57.32 crore in February 2022.

Mukand sold its land in Thane for Rs 806.14 crore. It has executed an agreement for the sale of said land of 47 acres.

Tantia Constructions bagged a Rs 42.2 crore contract from South Eastern Railway for the construction of a major bridge between Basta and Rupsa.

ABB India completed the sale of its turbocharger business to Turbocharging Industries and Services India.

What to expect? 

NIFTY opened with a gap-down at 16,614 and after a small up-move, fell step by step making lower highs and lower lows. But there was a quick buying in the second half which was sold into. There was a last-minute blast and NIFTY closed the day 16,606, down 188 points or 1.12%.

BANK NIFTY opened with a huge gap-down at 35,553. There was a heavy fall but 34,900 could provide a good support from where the index bounced and closed at 35,372, n 833 points or 2.3%.

Metals rallied for another day.

The US markets moved up significantly yesterday, closing around 1.8% in the green. The European markets also closed in the green.

The Asian markets are trading higher now. The U.S. Futures are flat and the European futures are trading slightly in the green.

SGX NIFTY is trading at 16,675. All the factors combined are indicating a gap-up opening.

NIFTY has supports at 16,600, 16,555, 16,500 and 16,370. We can expect resistances at 16,700, 16,840, 16,900 and 17,000.

BANK NIFTY has supports at 35,230, 35,000, 34,900 and 34,500. Resistances are at 35,650, 35,900, 36,000 and 36,300.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 35,000.

INDIA VIX  is just below 30, at 29.2.

Foreign Institutional Investors net sold shares worth Rs 4,300 crores. Domestic Institutional Investors net bought shares worth Rs 3,100 crores. 

Jerome Powell testified to Congress yesterday and he said that the Fed will go for a rate hike this month which was expected. The question was whether it would be a 25 basis point hike or a 50 point hike. The Fed Chairman said that he is inclined to a 25 basis points hike. This was good news for the markets to recover.

The UN General Assembly slammed the Russian invasion and asked Russia to withdraw the troops. Two of the Russian oligarchs have called on Russia to end the war immediately. These news will not be influential in stock markets worldwide as it is uncertainty fundamentally that the markets are afraid of. 

Crude Oil price was the highlight yesterday as it touched $114 since the US sanctions have become a hurdle for commodity movement from and to Russia. Nirmala Sitharaman said that we will face supply issues in edible oil and other items. OPEC+ said that they will stick to April input increase as expected but did not discuss the war impact. The rise in prices will lead to inflation and a difficult environment for businesses.

It was the financial stocks that weighed the index down but there was a good up-move in the last minute. We had got a clue about the institutional move at around 1 pm with that impulsive reversal. However, BANK NIFTY will be in a vulnerable zone if it is around the 34,900 level breaking which the sector may touch 34,500. There will be fear in the sector as long as FIIs sell aggressively. A close above 36,200 can give confidence to the bulls.

I expect NIFTY to stay below 16,900 for this expiry unless there is a major breakout. 16,400 can be watched on the downside if there is a major negative news. I know that I am talking about a wide range. But this is a news-driven market and you should be prepared for wild moves. The premium is high everywhere and if you trade wisely, you will be able to gain from the decay. If you are an option buyer, make sure that you go behind larger moves only or you will fall prey to theta. 

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Sgx Nifty At 16,500! Can Nifty Recover? Share Market Today

 News Shots 

Eicher Motors reported that their sales went up 7.3% YoY to 5,856 units in February.

Future Enterprises said that there is no immediate impact on deal with Generali after court order on Future Generali stake sale restraint.

Page Industries Managing Director Sunder Genomal has tendered his resignation.

Tata Steel subsidiary Tata Steel Advanced Materials will acquire 90% stake in Ceramat Pvt for consideration of Rs 90,000.

Sterlite Technologies has announced a collaboration with Analog Devices to develop 5G Open RAN radio units.

EaseMyTrip will consider allotment of bonus shares on March 3.

What to expect? 

NIFTY opened with a major gap-down at 16,506 and after a round of selling, the index rallied by more than 400 points. NIFTY closed the day at 16,794, up 135 points or 0.81%.

BANK NIFTY also opened with a gap-down at 35,970. The index underperformed NIFTY. Though there was selling pressure, BANK NIFTY took support at 35,900 and closed the day at 36,205, down 225 points or 0.62%.

Metals moved up by nearly 5%.

The US markets closed deep in the red. The European markets fell heavily.

The Asian markets are trading lower now. The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 16,500 indicating a gap-down opening.

NIFTY has supports at 16,600, 16,535, 16,370 and 16,250. We can expect resistances at 16,700, 16,840, 16,900 and 17,000.

BANK NIFTY has supports at 35,900, 35,650, 35,230 and 35,000. Resistances are at 36,300, 36,550, 37,000 and 37,250.

NIFTY has the highest call OI build-up at 17,500 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 38,000 and the highest put OI build-up at 35,000.

INDIA VIX  increased to 28.6.

Foreign Institutional Investors net sold shares worth Rs 3,900 crores. Domestic Institutional Investors net bought shares worth Rs 4,000 crores. 

NIFTY has finally closed above 200 dma. At the same time, we are seeing a chance for a major gap-down and this will test the resilience of our market again.

Belarus troops may go in seeing the developments at the border and if this happens, things will turn worse. 12 Russian diplomats have been dismissed by the US. Russia has warned of retaliation.

Oil prices have gone up again, trading now at $109 which is a major concern for our market. Fed rate hike is another major concern as a Fed official said yesterday that there is a need for more frequent hikes and by larger increments.

Reliance moved up significantly contributing to NIFTY’s up-move on Monday. HDFC twins lagged behind, closing in the red. Let us keep an eye on these stocks.

I will be watching 16,370 on the downside if there is a major fall in the coming days.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!