Tag: GIFT NIFTY

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Daily Market Feed Pre Market Report

U.S. Market Recovers. NIFTY to Open Strong – Pre-Market Analysis Report

The U.S. market fell yesterday as a reaction to Moody’s rating agency downgrading the outlook on 10 banks in the country.

Here are some of the major updates that could move the markets today:

Stocks

Coal India reported a fall in consolidated profit of 10.1% on-year to Rs 7,941.4 crore, but still beating street estimates.

Oil India reported a standalone profit of Rs 1,613.4 crore, down 9.78% YoY.

Prestige Estates reported consolidated profit at Rs 267 crore, up 30.3% YoY despite lower revenue.

Aarti Industries reported a 48.5% YoY fall in consolidated profit at Rs 70 crore, as revenues also fell.

Major results today: Tata Power, ZEEL, Trent, Sula Vineyards, IRCTC, Kalyan, Berger Paints.

What to Expect Today?

NIFTY started the day at 19,630, with a small gap-up. But a quick fall was seen. Support was taken at yesterday’s low and a small bounce was seen. NIFTY closed the day at 19,570, down by 26 points or 0.13%. 

BANK NIFTY started the day at 44,926 and had another day of consolidation. It tried to break out in the morning but took resistance at Friday’s high. BANK NIFTY closed the day at 44,964, up by 127 points or 0.28%. 

The U.S. markets closed in the red but recovered heavily from day-lows. The European markets closed in the red.

The Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in the green at 19,601.

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

NIFTY has supports at 19,566, 19,530 and 19,438. We can expect resistances at 19,617, 19,658, and 19,720. PCR is at 0.82.

BANK NIFTY has supports at 44,794, 44,600, 44,277 and 44,000. Resistances are at 45,229, 45,472, and 45,635. PCR is at 0.84.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,500. PCR is at 0.82.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 45,000. Interesting to see the high straddle buildup at this level. PCR is at 0.84.

Foreign Institutional Investors net-sold shares worth Rs -711 crores. Domestic Institutional Investors net-bought worth Rs 537 crores.

INDIA VIX jumped 2% up to 11.32.

U.S. markets had an amazing recovery through the day, even though they still closed in the red. It went from 1.3% in the red to just 0.45% in red.

NIFTY technicals indicate consolidation with a bearish bias. There are once again heavy call sellers in the market.

The 45,000 strike is turning into a straddle for Bank Nifty with a high pu selling yesterday. This means that an up move in Bank Nifty will NOT immediately trigger short-covering moves, it would take some time.

China’s inflation is down 0.3% YoY with disappointing trade data. Global markets look unreactive to the news.

Just two more trading sessions to expiry and surely it will be a dhamaka. Tomorrow, we have both RBI policy meeting and U.S. inflation data coming out.

I expect markets to trade inside our ranges for today like FinNifty yesterday. Do keep in mind the supports and resistances marked above for further levels in case of big moves.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

GIFT NIFTY in Red ahead of Key Data – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Godrej Consumer reported a consolidated profit of Rs 318.8 crore for the quarter, falling 7.6% YoY due to one-time costs.

Tata Chemicals reported a profit of Rs 523 crore for Q1, falling 11.8% YoY due to lower margins.

RailTel received a work order for monetisation of a city network infrastructure on revenue sharing model. The estimated total revenue from the contract is Rs 70 crore over 10 years.

PB Fintech (Policybazaar) reduced its losses to Rs 12 crore for Q1, compared to a loss of Rs 204 crore last year.

Sobha registered a profit of Rs 12.05 crore for the quarter, growing 165% over the year-ago period despite a fall in operating performance.

Major results today: Coal India, Hindalco Industries, Adani Ports, Oil India, Prestige Estates Projects

What to Expect Today?

NIFTY started the day at 19,559, with a small gap-up. Support was taken around Friday’s high, but started moving up by noon. NIFTY closed the day at 19,597, up by 80 points or 0.41%. 

BANK NIFTY started the day at 44,934 and had a consolidation day. It was the narrowest trading zone since June 28 for the index. BANK NIFTY closed the day at 44,837, down by 42 points or 0.09%. 

US markets closed in the green. The European markets closed flat.

The Asian markets are trading mixed, as they wait for China’s inflation data tomorrow.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in the red at 19,646.

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

NIFTY has supports at 19,566, 19,530 and 19,438. We can expect resistances at 19,617, 19,658, and 19,720. PCR is at 1.08. Heavy put selling was seen yesterday.

BANK NIFTY has supports at 44,600, 44,277 and 44,000. Resistances are at 45,229, 45,472, and 45,635. PCR is at 0.71.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,400.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500.

Foreign Institutional Investors net-sold shares worth Rs 1,892 crores. Domestic Institutional Investors net-bough worth Rs 1,080 crores.

INDIA VIX jumped 5% to 11.10.

U.S. markets have moved up overnight, ahead of the country’s inflation data on Thursday night. This comes even after Fed members said further interest rate hikes would be necessary, and the bond market is ready for a breakout.

NIFTY technicals and options data indicate bullishness for the week, while Bank Nifty does not. 

For FINNIFTY, I will be selling 19,900-20,200 to start off the day. If premiums are higher, even further away strikes will be looked at.

It is interesting to see that our market might open flat even with U.S. 1% in the green. Bank Nifty option sellers will be happy, as there was heavy call writing yesterday.

Speaking of this, do be aware that there are 3 lakh+ contracts at the 45k call strike. This would be a very tough resistance to break and will turn into a support once broken.

Do be aware that on Thursday morning 10 AM, RBI will be having its policy meeting where the expectation is for interest rates to remain unchanged.

So till then, markets are most likely to trade in a range.

Follow along with Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Can Markets Break the Volatile Consolidation? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Britannia reported a consolidated profit of Rs 455.45 crore for the quarter, growing 35.65% YoY with an increase in revenue and margins.

Bank of Baroda reported an 87.7% YoY growth in profit at Rs 4,070.1 crore, even with higher provisions for bad loans. Deposits and loans saw high growth.

ICICI Bank has received approval from RBI to increase shareholding in ICICI Lombard Insurance up to an additional 4%.

Delhivery’s net loss fell to Rs 89.5 crore for the quarter, compared to a loss of Rs 399.3 crore last year.

BHEL has reported a higher net loss of Rs 343.9 crore for Q1, compared to a loss of Rs 188 crore in the same period last year. Revenue grew 7%.

Balkrishna Industries, the tyre maker, has reported a consolidated profit of Rs 331.9 crore, up 8% YoY. Margins increased even as revenue fell.

Major results today: PB Fintech, Barbeque-Nation Hospitality, Sun Pharma Advanced Research (SPARC), Tata Chem, Torrent Pharma, Ramco Cements and Olectra.

What Happened on Friday?

NIFTY started the week at 19,666, ready for a bounce back. But Tuesday, Wednesday and Thursday were good red candles. Support was taken around 19,300 on Thursday, and NIFTY closed the week at 19,517, down by 149 points or 0.75%. 

BANK NIFTY started the week at 45,546 and followed a similar pattern to NIFTY. There was a move of 1,500 points from the week’s high to the low, as the index took support at 44,280. BANK NIFTY closed the week at 44,879, down by 667 points or 1.46%. 

What to Expect Today?

On Friday, the US markets closed in the red. The European markets however closed in the green.

The Asian markets are trading flat to green.

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

GIFT NIFTY is trading slightly in the green at 19,620.

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

NIFTY has supports at 19,438, 19,400 and 19,300. We can expect resistances at 19,566, 19,617, and 19,658.

BANK NIFTY has supports at 44,600, 44,277 and 44,000. Resistances are at 45,229, 45,472, and 45,635.

NIFTY has the highest call OI build-up at 19,600 The highest put OI build-up is at 19,400 and.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500. 

Last week, Foreign Institutional Investors net-sold shares worth Rs -566 crores. Domestic Institutional Investors net-bough worth Rs 366 crores.

INDIA VIX is back to 10.56 levels.

U.S. jobs data on Friday did not cause any major surprises for the market.

However, Asian markets are trading cautiously ahead of China’s trade balance for Tuesday and inflation data on Wednesday.

International crude oil prices have increased 20% in the last 2 months and might cause troubles in the Indian markets if it moves higher.

NIFTY is now trading inside the consolidation zone of early July. The technicals and options data indicate that an upward rally might be limited for the week.

Bank NIFTY has reached back to early June consolidation levels.

A close below 19,330 levels will indicate bearishness for NIFTY, but looks like the market will hold up above that easily.

Breaking 19,650 levels will indicate strength in the market.

Friday’s craziness with Bank Nifty might be seen throughout the week. Look out for movements in IndusInd Bank and ICICI Bank.

Follow along with Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

NIFTY Back to Consolidation Zone. SBI Results Out Today – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Bharti Airtel registered a profit of Rs 1,612.5 crore for Q1, falling 46.4% QoQ impacted by a one-time foreign exchange loss of Rs 3,416 crore.

Eicher Motors has registered its highest-ever quarterly revenue, EBITDA and profit. Profit shot up 50.4% year-on-year to Rs 918.3 crore

Paytm has recorded merchant payment volumes at Rs 1.47 lakh crore for July 2023, growing 39% YoY. The loan distribution business is growing at 148% YoY.

LIC Housing Finance registered a 43% YoY growth in profit at Rs 1,323.7 crore for the quarter, beating estimates.

Hindalco Industries has won the bid to mine the Meenakshi West coal mine in Odisha.

Titan reported a 4% fall in net profit at Rs 753 crores. Margins of the company fell.

Indigo reported a net profit of Rs 3,090 crore, beating street estimates. Revenue jumped up 30% YoY.

HPCL reported a net profit of Rs 6,765.5 crore for Q1, v/s net loss of Rs 8,557.12 crore last year. It is still lower than expected as margins fell.

Major results today: State Bank of India, M&M, Britannia Industries, Shipping Corp, IDFC, Devyani International

What Happened Yesterday?

NIFTY started the day at 19,463 with a gap-down of 62 points. Initially, the index tried moving up, but 19,500 now turned into resistance. Failing to break the level, a crash without a retracement to 19,300 was seen. NIFTY closed at 19,381, down by 144 points or 0.74%. 

BANK NIFTY started the day at 44,862 with a gap-down of 132 points. It tried moving above 45,000 but found resistance. A fall of 750 points was seen after which BANK NIFTY closed at 44,513, down by 482 points or 1.07%. 

What to Expect Today?

US markets closed in the red. The European markets also closed in the red.

The Asian markets are trading mixed.

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

GIFT NIFTY is trading slightly in the green at 19,486.

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

NIFTY has supports at 19,300, 19,240 and 19,200. We can expect resistances at 19,438, 19,513, and 19,566.

BANK NIFTY has supports at 44,280, 44,150 and 44,000. Resistances are at 44,600, 44,900 and 45,229.

NIFTY has the highest call OI build-up at 19,500 and 20,000. The highest put OI build-up is at 19,400 and 19,200. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 45,500. 

Foreign Institutional Investors net-sold shares worth Rs -317 crores. Domestic Institutional Investors net-bough worth Rs 1729 crores.

INDIA VIX cooled 9% to 11.18.

The international markets did not show strength or a bounce back yesterday, even though NIFTY held on strong till noon. But just after noon, the 19,400 level was broken and another quick 100-point fall was seen. A bounce is what we expected but breaking important levels meant more fall.

NIFTY has now fallen 3% from its all-time high.

Support was taken at the level of 19,300 which was the level from early July in NIFTY. Bank NIFTY has reached back to early June consolidation levels.

You can expect consolidation from these zones with a very low chance of falling below 19,000. A quick rally back to all-time highs is not expected unless triggered by huge FII buying.

Otherwise, expecting a trading range of 19,100-19,650 for this week which will change according to market conditions.

Watch out for SBI volatility around the results, this may create some buzz!

We will be entering our new Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

U.S. Markets also Fall. NIFTY to Open Flat – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

JSW Steel signed a joint-venture deal with Japan’s JFE Steel to produce cold-rolled silicon steel. The project cost is Rs 5,500 crore and will be financed by a mix of equity and debt.

Vedanta’s promoter group Twin Star Holdings is looking to sell a 4.3% stake via a block trade, for at least Rs 4,136 crore. 16 crore shares are being sold at a floor price of Rs 258.5/share, at a discount of 5% on Wednesday’s closing price.

Both houses of Parliament have cleared the Amendment Bill which opens up mining of deep-seated minerals like lithium mining to private players. 

Sheela Foam approved raising up to Rs 1,200 crore via Qualified Institutional Placement, and another Rs 600 crore via bonds.

Hindalco Industries has won the bid to mine the Meenakshi West coal mine in Odisha.

Titan reported a 4% fall in net profit at Rs 753 crores. Margins of the company fell.

Indigo reported a net profit of Rs 3,090 crore, beating street estimates. Revenue jumped up 30% YoY.

HPCL reported a net profit of Rs 6,765.5 crore for Q1, v/s net loss of Rs 8,557.12 crore last year. It is still lower than expected as margins fell.

Major results today: Adani Enterprises, Adani Power, Bharti Airtel, Dabur 

What to Expect Today?

NIFTY started the day at 19,655 with a gap-down. It moved down from the first candle while respecting technical supports. After touching a day-low of 19,423, the index bounced 100 points. NIFTY closed at 19,526, down by 207 points or 1.05%.

BANK NIFTY started the day at 45,234 near an important zone. The index continued to fall, and went till near 44,700 levels. BANK NIFTY closed at 4,995, down by 596 points or 1.31%. 

US markets closed in the red, with NASDAQ down 2%. The European markets closed in the red.

The Asian markets are mostly trading in the red.

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

GIFT NIFTY is trading slightly in the green at 19,515.

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

NIFTY has supports at 19,513,19400 and 19,300. We can expect resistances at 19,566, 19,617, 19,658 and 19,760.

BANK NIFTY has supports at 44,900, 44,730 and, 44,600. Resistances are at 45,229, 45,472 and 45,635.

NIFTY has the highest call OI build-up at 19,800 and 19,600. The highest put OI build-up is at 19,500 and 19,400. PCR is at 0.56.

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,000. PCR is at 0.57. 

Foreign Institutional Investors net-sold shares worth Rs -1877 crores. Domestic Institutional Investors net-sold worth -2 crores.

INDIA VIX jumped 9% to 11.27.

Yesterday’s big news was the U.S. credit rating downgrade by Fitch. This resulted in our market falling more than 1%.

When the U.S. markets opened, it looked like it would not fall much but eventually fell more than 1%.

Our market was driven by the news, added to the rolling away of aggressive put sellers at 19,700 and 19,600.

Watch out for Adani Enterprises’ results today.

NIFTY has treated it as the correction it was waiting for but still held strong over 19,500. Bank Nifty however fell into the previous consolidation zone in the daily charts.

With it being the monthly expiry, do have a watch out for volatility carried on from yesterday. If the international markets stabilise, we may see an upward towards the second half with the aggressive sellers at 19,600 rolling away!

We will be trading Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Markets to Open Lower with U.S. Ratings Downgrade – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Rating agency Fitch downgraded the US credit rating by one step to AA+, citing expected fiscal deterioration over the next three years and growing general government debt burden.

Stocks

Maruti Suzuki produced 1.86 lakh vehicles in July, up 1% YoY. Maruti is also going to acquire a 100% stake in Suzuki Motor Gujarat(SMG) from the Japanese parent company – Suzuki Motor Corporation. This was one of the major issues with long-term investment in the stock – Why You Should NOT Invest in Maruti Suzuki.

TVS Motors has announced sales volume at 3.26 lakh units for July 2023, up 4% YoY. This was majorly contributed by domestic business, while exports fell. Electric scooter sales doubled from last year.

Hero Motocorp’s 2 offices and the residence of the executive chairman were raided yesterday by the Enforcement Directorate. 

DLF promoter and chairman emeritus sold his entire stake of 0.59% in the company for Rs 730 crores.

Royal Enfield reported total sales growth of 32% year-on-year to 73,117 motorcycles. Contributed by domestic growth, exports dropped 20%.

Major results today: Titan, Ambuja Cements, HPCL, Indigo, Mankind Pharma, Godrej Properties, IOB

What to Expect Today?

NIFTY started the day at 19,784 with a small gap-up. It tried to move up but failed, and eventually consolidated with a bearish bias. NIFTY closed at 19,733, down by 20 points or 0.1%.

BANK NIFTY started the day at 45,740 and consolidated. But after 1 hour, it lost strength and moved down. BANK NIFTY closed at 45,592, up 58 points or 0.13%.

US markets closed mixed. The European markets closed in the red.

The Asian markets are mostly trading in the red.

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

GIFT NIFTY is trading in the red at 19,747.

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

NIFTY has supports at 19,760, 19,660, 19,617 and 19,566. We can expect resistances at 19,784, 19,846 and 19,920.

BANK NIFTY has supports at 45,472, 45,230, and 44,900. Resistances are at 45,860, 46,000, and 46,240.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,600 and 19,700. PCR is at 0.79.

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,500. Call sellers in the 45,500 straddle running away. PCR is at 0.76. 

Foreign Institutional Investors net-sold shares worth Rs -92 crores. Domestic Institutional Investors net-bought worth 1,035.69 crores.

INDIA VIX is at 10.28.

Reliance dragged the market down yesterday, while HDFC Bank and Infy moved it up.

The market was trying to stay up and consolidate near this zone before a breakout. But looks like the global markets are not playing along!

A gap-down of 50 points is expected and you know the major levels to watch out for from above. The put sellers at 19,700 will be okay, as they are mostly straddle positions. If the market moves towards 19,600 levels, the sellers there will cover their positions and drag NIFTY down to 19,500 zones.

Global markets which were consolidating near their all-time highs, might see a small correction, but not expecting huge reactions as we can see from U.S. futures.

So watch out for initial weakness, but a rebound towards the second half of the day if European markets move to green.

Tomorrow is the first expiry of the August series. Hope you have a strong 2 days of trading ahead!

We will be trading Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Can FinNIFTY Expiry Trigger Fresh Breakout? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Maruti Suzuki recorded a 145.4% YoY growth in standalone profit at Rs 2,485.1 crore for the quarter, with a 22% growth in revenue.

Power Grid reported a 6% year-on-year decline in standalone profit at Rs 3,542.65 crore.

South Indian Bank’s board has approved the raising of funds up to Rs 1,000 crore from the issuance of equity shares, and Rs 500 crore through bonds.

Europe-based financial group Societe Generale has bought a 1.08% stake in Bandhan Bank from the open market for Rs 382 crores.

Major results today: Adani Total, Welspun, Triveni Turbine, GMDC, Thyrocare

What to Expect Today?

NIFTY started the day at 19,666 with a small gap-up. After the initial fall, it took support and moved up. The 3 PM candle also gave a breakout and NIFTY closed at 19,753, up by 107 points or 0.55% from last week.

BANK NIFTY started the week at 45,546 and fell 200 points. But support was taken like NIFTY and the index hit fresh day-highs. BANK NIFTY closed at 45,651, up 183 points or 0.4%.

US markets closed in the green. The European markets closed flat.

The Asian markets are mostly trading in green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,883.

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

NIFTY has supports at 19,660, 19,617 and 19,566. We can expect resistances at 19,760, 19,846 and 19,920.

BANK NIFTY has supports at 45,472, 45,230, and 44,900. Resistances are at 45,860, 46,000, and 46,240.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,600. There was a high put OI buildup yesterday, with call sellers rolling away farther. PCR is still bearish at 0.85.

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,500. The call sellers at 45,500 rolled away aggressively, bringing PCR to 0.90.

Last week, Foreign Institutional Investors net-sold shares worth Rs 701 crores. Domestic Institutional Investors covered up for it by buying shares worth Rs 2488 crores.

INDIA VIX is at 10.41, its worst-ever monthly closing level.

The July month’s candle has closed strongly which indicates the continued presence of bulls. The short covering of 19,800 is still possible if NIFTY aggressively tries to move up today, the strike is just 50 points away.

Otherwise, markets are indicating consolidation with a bullish bias in technicals, even as FIIs sell. Let us see if the PCR shifts to indicate this sentiment today and tomorrow.

Global markets are also consolidating near their all-time highs.

For the Fin NIFTY expiry, the levels to watch out for are very clear between 20,200 and 20,420. A breakout in HDFC Bank can contribute to a move above 19,800 for NIFTY too!

As a new month starts, industrial data will soon start coming out. The U.S. Jobs data also will come out this week, which should not move the market if there are no big surprises.

Hope you have an amazing trading day 🔥

We will be trading Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Fresh Start for the Week. Will Call Sellers Cause Trouble? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Marico reported a consolidated profit of Rs 436 crore for the quarter ended June FY24, rising 15.6% over the corresponding period last fiscal

Shree Cement has started commercial production at its clinker grinding unit in West Bengal with a cement capacity of 3.0 MTPA.

UCO Bank announced a profit of Rs 223 crore for the quarter ended June FY24, growing 80.8% YoY.

United Breweries, maker of Kingfisher beer maker, reported fall in profit of 15.8% YoY to Rs 136.2 crore.

IDFC First Bank recorded a 61% YoY growth in profit at Rs 765 crore for the quarter, driven by growth in core operating income.

Equitas Small Finance Bank recorded a profit of Rs 191 crore for the quarter, rising 97% over last year.

SBI Cards registered a 5% YoY fall in profit at Rs 593 crore for the quarter.

Major results today: Maruti Suzuki, GAIL, PowerGrid, UPL, Bosch, Petronet, Adani Green.

What to Expect Today?

NIFTY started last week at 19,748 with a small gap-down. By Tuesday, it fell and tried to recover. Week’s low was created on Friday. And NIFTY closed at 19,646, down by 99 points or 0.6% from last week.

BANK NIFTY started the week at 46,131 and tried to take support at 46k multiple times.  Thursday was the highest opening ever for the index, but then crashed. BANK NIFTY closed at 45,468, down -1.31%, week on week.

US markets closed in the green. The European markets also closed in the green.

The Asian markets are all trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,786.

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

NIFTY has supports at 19,560, 19,500 and 19,430, 19,300. We can expect resistances at 19,750, 19,800 and 19,890.

BANK NIFTY has supports at 45,220, 44,860 and 44,600. Resistances are at 45,650,  45,930, and 46,225.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,600. There was an aggressive option selling on Friday. And the PCR is bearish, 0.63.

BANK NIFTY has a straddle at 45,500, with PCR at 0.68.

Last week, Foreign Institutional Investors net-sold shares worth Rs 3,000 crores. Domestic Institutional Investors covered up for it by buying shares worth Rs 5,200 crores.

INDIA VIX is flat at 10.13.

With this week having very less possibility of news-based movements, and the monthly expiry being done, the chances exist for another good move.

For Monday, it will be interesting to see how aggressive option sellers will be on the call side. If more and more calls are added while the support at 19,500 is defended in the next 2 days, it could indicate bullishness with a chance of short covering.

The global markets are also bullish, even after the Fed interest rate hike.

The technicals indicate a wick in the closing of July’s monthly candle. If today is a green day, the July candle will end strong.

Do have an eye on crude oil’s 4% rally, which may limit our markets even while global markets move up.

We will be trading Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

U.S. GDP Increases. Will Market Follow F&O Data? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

U.S GDP expanded by 2.4% on an annual basis in the April to June quarter, higher than the expected 1.8%. Crude Oil also remains strong.

Stocks

Adani Enterprises’ subsidiary has raised a working capital loan facility of Rs 3,231 crore from two foreign banks, for its integrated solar module manufacturing facility.

Indian Hotels reported 31% YoY jump in net profit to Rs 222.4 crore.

Indus Towers reported a 182% YoY growth in profit at Rs 1,348 crore for the quarter, on the back of good operating performance and the highest quarterly tower additions in company’s history.

Major results today: IOC, M&M Financial, Marico, Equitas Small Finance Bank, Laxmi Organics, SBI Cards

What to Expect Today?

NIFTY started the day at 19,850 with a gap-up of 72 points, and tried to move up. But it gave a continuous fall to 19,600 and recovered post 3 PM. NIFTY closed at 19,659, down by 118 points or 0.6%.

BANK NIFTY started the day at 46,285 with a gap-up of 223 points. The index consolidated even while NIFTY was falling, but eventually fell 750 points from the day high. BANK NIFTY closed at 45,579, down by 383 points or 0.8%.

US markets closed in the red. The European markets closed in the green.

The Asian markets are trading mostly in the red, with Japan’s Nikkei down 1.35%.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,767.

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

NIFTY has supports at 19,600, 19,550 and 19,500. We can expect resistances at 19,670, and 19,750.

BANK NIFTY has supports at 45,600, 45,470 and 45,230. Resistances are at 45,900, 46,000, and 46,240.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is also at 19,800.

BANK NIFTY still has strong call OI build-up at 46,000. The highest put OI build-up is also at 46,000.

Foreign Institutional Investors net-sold shares worth Rs 3,979 crores. Domestic Institutional Investors net-bought shares worth Rs 2,528 crores.

INDIA VIX is flat at 10.51.

With yesterday’s monthly expiry, volatility was definitely expected. And as traders and institutions carry forwarded their trades to next month, all of NIFTY’s move were fast.

The futures OI data indicate that the August Futures were not heavily sold as yesterday’s fall. Options also indicate that 19,800 has a huge straddle buildup already for next week with a combined premium of 237 points.

There is enough space for the indices to swing throughout the week, with the premiums of the straddle.

The technicals still indicate that there is bullishness in the market. But today’s gap-down will decide if this view stays relevant. The U.S. GDP numbers and crude oil movements are indicating that the general economy is also in decent shape, for now.

As we get to the end of the week, the expectation is an initial gap-down opening with a recovery towards the middle of the day.

We will be entering new positions on our Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Fed Interest Hike as Expected. Who Will be the Villain for Monthly Expiry? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

US Fed hikes interest rates to highest level since 2001 to a range between 5.25-5.5%, which is in line with expectations.

Stocks

Axis Bank reported profit lower than expected profits at Rs 5,797.1 crore for the quarter, but still jumping 40.5% YoY.

Dr Reddy’s recorded an 18% YoY growth in consolidated profit at Rs 1,402.5 crore, but profit margins fell.

Tech Mahindra had a disappointing result announcement as profit fell 39% YoY to Rs 692.5 crore.

Netweb Technologies will get listed today. The final offer price has been fixed at Rs ₹500/share.

Tata Consumer Products registered 22% YoY growth in consolidated profit at Rs 338 crore with growth under all verticals.

The Government of India is going to sell up to 7.09 crore equity shares (3.4%) of RVNL via offer for sale today and tomorrow. Floor price has been fixed at Rs 119 per share, down 14% from current price

Cipla Q1 Results showed profit increasing 45% YoY to Rs 996 crore, beating estimates..

Major results today: Nestle India, ACC, Bajaj Finserv, Indian Hotels, IEX, JK Cement

What Happened Yesterday?

Yesterday, NIFTY started at 19,733 with a gap-up of 52 points above a resistance zone. With help from Reliance, it quickly moved up but later consolidated. A sharp fall was seen at 2:35 PM. Nifty closed at 19,788, up by 97 points or 0.5%.

BANK NIFTY (BNF) started the day at 45,935 and moved up slowly. It continued trading in an upward channel with 46,000 acting as a good resistance. BANK NIFTY closed at 46,062, up by 217 points or 0.47%. 

US markets closed slightly in the green. The European markets closed in the red.

What to Expect Today?

The Asian markets are trading mostly in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,867, in the green.

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

NIFTY has supports at 19747, 19,630 and 19,550. We can expect resistances at 19,846, and 19,920 then at 20,000.

BANK NIFTY has supports at 45,900, 45,635 and 45,470. Resistances are at 46,253, 46,400, and 46,500.

NIFTY has the highest call OI build-up at 20,000 and 19,800. The highest put OI build-up is at 19,700.

BANK NIFTY still has strong call OI build-up at 46,000. The highest put OI build-up is also at 46,000.

Foreign Institutional Investors net-bought shares worth Rs 922 crores. Domestic Institutional Investors also net-bough shares worth Rs 470 crores.

INDIA VIX increased 12% to 10.45.

The market is still indicating technical bullishness, including yesterday’s up-move. Both foreign and domestic institutional investors also continued buying.

Even with the hike in Federal Reserve’s interest rates in the U.S, global markets are looking okay as it was expected. But do not rule out volatility in the Indian market as FII selling may attract big movements.

The straddle buildup at 46,000 has continued throughout the week. The chance of a strong short-covering rally is also less on the upper side as most players are enjoying good decay.

Do not look at OI made on the last many days to take active trades today, as they are already in good profits. Only look at the intraday change in OI to determine your positions.

This being the monthly expiry, there is a high chance of volatility in the second half. But I am not expecting any record highs to be created or the support levels of 45,230 on BNF and 19,500 on NIFTY to be broken. If the respective levels are broken with at least 1 hour to go, market may turn trending.

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Consolidation for Monthly Expiry? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Tata Motors said it will cancel DVR shares and issue ordinary shares which will take shareholding of the promoter group down by 3.16%. Reported a consolidated net profit of Rs 3,203 crore for Q1, back to profits due to good sales from Jaguar Land Rover.

Union Bank of India has entered into a strategic partnership with IBM to act as a system integrator in its digital push. The bank has embarked on Project Sambhav to create a Digital bank.

Piramal Enterprises said it will consider a share buyback proposal on July 28.

Larsen & Toubro agreed to buy back 2.4% of equity capital, at a max price of Rs 3,000 per share, for a total of Rs 10,000 crore. Net profit of the company jumped 46.5% YoY to Rs 2,493 crore, and beating estimates.

SBI Life reported a 46.2% YoY increase in net profit at Rs 380 crore for Q1.

Major results today: Axis Bank, BPCL, Cipla, Dr Reddy’s Laboratories, Punjab National Bank, Shree Cement, Tech Mahindra, Bajaj Finance.

What to Expect Today?

NIFTY started the day with a gap-up at 19,729. It was volatile for the FINNIFTY expiry and kept on making sharp moves but ended flat. Nifty closed at 19,680, up by 8.25 points or 0.04%.

BANK NIFTY (BNF) started the day at 46,154 with a gap-up of 231 points. But from the first candle, it could not sustain and started falling. The index had a 300-point fall in 30 minutes at 1 PM but recovered. BANK NIFTY closed at 45,845, down by 78 points or 0.17%. 

US markets closed slightly in the green. The European markets closed slightly in green also.

The Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,711.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,630, 19,550, and 19,440. We can expect resistances at 19,750 and 19,800.

BANK NIFTY has supports at 45,635, 45,470 and 45,230. Resistances are at 46,253, 46,300, and 46,500.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,500 and 19,700. 

BANK NIFTY has strong call OI build-up at 46,000. The highest put OI build-up is also at 46,000, indicating expectation of consolidation around that zone.

Foreign Institutional Investors net-bought shares worth Rs 1,088 crores. Domestic Institutional Investors net-sold shares worth Rs 333 crores.

INDIA VIX fell 12% to 10.23.

BANK NIFTY is forming similar candles to the 4th July week. Even with intraday weakness, the index is still in the breakout zone and bullish. The question is how many days of consolidation will we see.

The same goes for NIFTY as well. The moves without news or reason, which I believe are the best moves, have been paused just temporarily.

Options data is also indicating consolidation coming up for the market, and the BNF straddle buildup at 46,000 continues. 

Have an eye on Punjab National Bank and Axis Bank results for today. Otherwise, the next results announcement I will be looking forward to is SBI in August.

I expect some consolidation with selling ahead of the monthly expiry tomorrow.

And as long as 45,230 on BNF and 19,500 on NIFTY are defended, I will not be overly bearish on the market.

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 Pre Market Report

Crazy OI in Nifty! Short Covering Loading? Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Tata Communications reported a 30% fall in net profit at Rs 382 crore for the first quarter ended June. Revenue from operations, however, jumped 11% to Rs 4,771 crore.

Shares of  HUL, Infosys, Havells, and United Spirits will be in focus today as the companies will announce their first quarter results today.

Federal Bank has launched a QIP (qualified institutional placement) issue and fixed Rs 132.59 as the floor price.

What to Expect Today?

NIFTY opened with a gap-up at 19,810 and moved up. The index saw a down-move and there was a recovery in the second half leading to a volatile day. NF closed at 19,833, up by 84 points or 0.42%. 

BANK NIFTY opened with a gap-up at 45,650 and traded in a range of 200 points. There was an up-move at 3 PM and the index closed at 45,670, up by 258 points or 0.57%.

IT moved up by 1.06%. 

The US markets closed in the green. The European markets closed mixed with DAX closing flat and FTSE rallying.

The Asian markets are trading mixed.

The U.S. Futures and European futures are trading mixed.

GIFT NIFTY is trading at 19,835.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,820, 19,765, 19,740 and 19,725. We can expect resistances at 19,850, 19,900 and 19,950.

BANK NIFTY has supports at 45,485, 45,430 and 45,280. Resistances are at 45,715, 45,750, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,800. 

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,500.

Foreign Institutional Investors net-bought shares worth Rs 1,200 crores. Domestic Institutional Investors also net-bought shares worth 2,100 crores.

INDIA VIX is at 11.6.

Though Bank Nifty was range bounded and did not see a strong 3 PM rally, unlike Nifty, the index outperformed Nifty. Reliance saw a big move before the demerger.

There will be a special session to decide the post-merger price of Reliance. Reliance will start trading only after 10 AM. We can expect Jio Financial Services to be listed in the market in four months.

Watch 1674 and 1688 in HDFC Bank. The IT giants consolidated after a fall in the morning. 

Look at the call OI build-up at 19,850 CE in Nifty. It is so huge despite being a strike just 17 points away from the spot. Imagine the magnitude of short covering that could happen if that level is broken.

In case that happens, see where BN can rally to. The index has been suppressed by the option sellers leading to a range-bound day. A move out of the zone could be a big one.

No major data are coming out this week. Let us focus on the Reliance demerger. UK CPI came out slightly better than the estimates.

I will watch 19,765 on the downside in NIFTY. 19,850 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!