Tag: GIFT NIFTY

What Happened Yesterday?

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

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

U.S. markets closed flat. The European markets closed in the green.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,809.

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

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

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

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

INDIA VIX is higher at 11.82.

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

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

The PCR values in BNF indicate extreme bearishness.

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

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

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

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

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

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

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

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

What to Expect Today?

Asian markets are trading mostly in the red.

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

GIFT NIFTY is trading flat at 19,789.

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

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

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

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

INDIA VIX is higher at 11.64.

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

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

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

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

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,486 with a gap-down of 38 points. After opening, the index further fell nearly 80 points with volatility. Then, it consolidated throughout the day in a 25-point upward channel. Nifty closed at 19,443, down by 82 points or 0.42%.

BANK NIFTY started the day at 43,915 with a gap-down. Similar to Nifty, BNF fell more than 200 points with wild moves. Then, the index rebounded 200 points in just 20-25 minutes and consolidated for the rest of the day. BNF closed at 43,891, down by 105 points or 0.24%.

U.S. markets closed in the green(+1.43%). The European markets closed in the green.

What to Expect Today?

Asian markets are trading in the green.

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

GIFT NIFTY is trading in green at 19,735.

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

NIFTY has supports at 19,440, 19,366 and 19,309. We can expect resistances at 19,500, 19,440 and 19,493.

BANK NIFTY has supports at 43,835, 43,680 and 43,560. Resistances are at 43,960, 44,160 and 44,225.

Foreign Institutional Investors net–sold shares worth Rs -1,244.44 crores. Domestic Institutional Investors net-bought worth Rs 830 crores.

INDIA VIX is at 11.18.

FINNIFTY’s expiry on Monday was a volatile one! Even though the market closed flat, FINNIFTY saw a lot of big intraday candles causing trouble.

Even after Sunday’s gap-up on Muhurat, and Monday’s slight red, NIFTY is still trading between the expected range of 19,230-19,640.

The market now is indicating a big gap-up after the U.S. markets moved up. It shot up after the U.S. CPI fell to 3.2% vs the expected 3.3%.

Now the expectation when inflation falls is that the Fed will pause its interest rate hikes going ahead.

And now today, there is the BANK NIFTY expiry with the highest call OI at 44,000. But the interesting thing to note is that there was a high put OI buildup nearby too.

Even a move up to 44,200 can be a controllable gap-up for the market. Will it be a short-covering rally is the question for today. NIFTY also has high call selling at 19,500.

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day flat at 19,457 and traded in a tight zone. There was huge volatility in the first 30 minutes. Later, the index tried moving up but took resistance at the opening levels (19,460) and fell gradually. Nifty closed at 19,395, down by 48 points or 0.25%.

BANK NIFTY started the day flat at 43,626. Unlike Nifty, BNF was bullish and moved up more than 300 points to 43,880 levels. Post 12 PM, there was a slow correction till 43,650. BNF closed at 43,683, up by 25 points or 0.06%.

U.S. markets closed in the red(-0.65%). The European markets closed in the red.

What to Expect Today?

Asian markets are trading in the red.

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

GIFT NIFTY is trading in red at 19,381.

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

NIFTY has supports at 19,366, 19,309 and 19,230. We can expect resistances at 19,440, 19,493 and 19,560.

BANK NIFTY has supports at 43,680, 43,560 and 43,470. Resistances are at 43,830, 43,960 and 44,160.

Foreign Institutional Investors net–sold shares worth Rs -1,712.33 crores. Domestic Institutional Investors net-bought worth Rs 1,512 crores.

INDIA VIX is at 10.98.

NIFTY expiry closed in a very predictable way. Even with the aggressive option sellers, the index traded between 19,400 and 19,500 for most of the day.

This has helped the market get settled down after Tuesday’s craziness.

U.S. markets have cooled down and continue the consolidation at the top. So there is a chance that NIFTY will also take a pause near the current Fib retracement level.

U.S. Fed Chair, Jerome Powell, continued his stance that restricting inflation down to 2% over time is the goal and they are not yet there.

Overall, NIFTY has taken resistance for the last 2 days near 19,440 which is important in the daily charts.

This brings a zone for NIFTY to trade in this week to between 19,230 and 19,460. Both are near important Fibonacci levels and strong technical levels.

In BANK NIFTY, between 43,260 and 43,840 are levels to keep an eye out for.

We will be entering our fresh NIFTY trades and continuing our BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day flat at 19,404. After an initial 60-point fall in the first 5 minutes, the index attempted to recover but didn’t succeed, and fell again. Then, Nifty moved took support from 19,330 levels and shot back up even breaking the day’s high. Nifty closed at 19,406, down by 5 points or 0.03%.

BANK NIFTY started the day flat at 43,598. Right after the market opened, the index quickly fell more than 200 points. A while later, the index shot up nearly 520 points from the day-low! BNF closed at 43,737, up by 118 points or 0.27%.

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

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in red at 19,525.

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

NIFTY has supports at 19,366, 19,309 and 19,230. We can expect resistances at 19,440, 19,493 and 19,560.

BANK NIFTY has supports at 43,680, 43,560 and 43,470. Resistances are at 43,830, 43,960 and 44,160.

In NIFTY, the highest call OI is at 19,500 and the highest put OI is at 19,300. PCR is 0.99.

In BANK NIFTY, there is high call OI buildup at 44,000 and high put OI at 43,500. PCR is at 1.24, showing bullishness.

Foreign Institutional Investors net–sold shares worth Rs 497 crores. Domestic Institutional Investors net-bought worth Rs 700 crores.

INDIA VIX is at 11.19.

The market gave some crazy movements, and ended with a rally yesterday. Both FINNIFTY and BANK NIFTY gained more than 1% each from the day-low in last 3 hours.

It looks like a day where on the lower side, put sellers got in trouble and got in trouble in the call side also.

The U.S. markets are holding strong near the top, giving our market some confidence.

Have a watch out for the OI levels in BANK NIFTY expiry today. The levels are once again tight, which might cause options short covering in either side.

Especially watching SBI and ICICI Bank as they are looking dangerous in their hourly charts. Don’t forget the BANK NIFTY levels too!

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,345 with a gap-up of 115 points. It traded in a sideways channel till 2 PM. Gave a breakout above the day-high and kept on moving up till the last candle. NIFTY closed at 19,411, up by 181 points or 0.94%.

BANK NIFTY started the day at 43,627 with a big gap-up of 310 points. There was an immediate sell-off to 43,400 levels. But the earlier resistance now acted as support, and the index moved up till the opening levels. BNF closed at 43,619, up by 301 points or 0.7%.

U.S. markets closed in the green(+0.10%). The European markets closed in the red.

What to Expect Today?

Asian markets are trading in the red.

The U.S. Futures are trading in slight red(-0.17%).

GIFT NIFTY is trading in red at 19,450.

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

NIFTY has supports at 19,366, 19,309 and 19,230. We can expect resistances at 19,440, 19,493 and 19,560.

BANK NIFTY has supports at 43,560, 43,470 and 43,390. Resistances are at 43,680, 43,830 and 43,960.

FINNIFTY has supports at 19,500, 19,450 and 19,425. Resistances are at 19,560, 19,620 and 19,700.

In NIFTY, the highest call OI is at 19,500 and the highest put OI is at 19,300. PCR is 1.08

In BANK NIFTY, there is high call OI and put OI at 43,500. PCR is at 1.10.

In FINNIFTY, the highest call OI is at 19,600 and the highest put OI is at 19,400. PCR is 1.11.

Foreign Institutional Investors net–sold shares worth Rs 549 crores. Domestic Institutional Investors net-bought worth Rs 595.70 crores.

INDIA VIX fell to 11.10.

The market has moved up with gap-ups over the last many days, and not much bullishness intraday. This is how it was expected for the market.

NIFTY has crossed the 19,230 mark and moved up much above it yesterday. Bank Nifty also reached its highest in the last 2-weeks.

There are very few news-based movements expected in this week. So it will be international markets impacting ours, and technical levels to watch out for.

The fall in US 10 Year bond yields has stopped, and this in a way indicates that market rally has lost its full strength. The U.S. markets also closed with Dojis, after 5 back to back green candles.

Now the expectation today from the market is gap-down with consolidation. There are no good reasons for big moves, except our own technical levels.

Have a watch out for FINNIFTY and the aggressive option sellers overnight. If the 19,400 level is crossed downward, we can expect bulls to cover their positions for today’s expiry.

Running in good profits for the week, hoping it will continue like this!

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,241 with a gap-up of 108 points. For the most part of the trading session, the index consolidated in a small range of 40 points between 19,270 and 19,230. Nifty closed at 19,230, up by 97 points or 0.51%.

BANK NIFTY started the day at 43,318 with a big gap-up of 301 points. The index also consolidated in a 165-point range between 43,250 and 43,415 levels today. BNF closed at 43,318, up by 301 points or 0.7%.

U.S. markets closed in the green(+0.66%). The European markets closed mixed.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in slight green(+0.07%).

GIFT NIFTY is trading in green at 19,452.

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

NIFTY has supports at 19,230, 19,170 and 19,050. We can expect resistances at 19,310, 19,370 and 19,440.

BANK NIFTY has supports at 43,250, 43,100 and 42,960. Resistances are at 43,390, 43,470 and 43,560.

In NIFTY, the highest call OI is at 19,300 and the highest put OI is at 19,200. PCR is 0.77.

In BANK NIFTY, the highest call OI at 44,000 and the highest put OI is at 43,000. PCR is at 1.01.

Last week, Foreign Institutional Investors net–sold shares worth Rs 5,520 crores. Domestic Institutional Investors net-bought worth Rs 3,538 crores.

INDIA VIX fell to 10.88.

Last week in NIFTY was a green candle reaching our exact resistance of 19,230. The Fed Reserve announcement on Wednesday night, helped the market move up with gap-ups on the last 2 days.

This all helped NIFTY move up just nearly 1% for the week. Meanwhile, international markets like the U.S. rallied 4%+ just last week

NIFTY still has not closed above the 19,230 mark. So with today’s gap-up, it will be interesting to see if the market can sustain above this mark.

SBI posted a net profit increase of 8% YoY to ₹14,330 crore, higher than expectations. We can see the effect on the stock, and other PSU Banks in the market today.

But other than this, there are no other major market events this week.

Have a look at the US10Y bond yields on TradingView. It has fallen from its peaks in the last 3 days, and at the same time market has rallied back up.

So, this week’s general expectation is for the market to move up. There is good call OI at 19,300, and it may trigger some green movement at the beginning of the day.

Expecting a good start to the week. All the best for your trading day!

We will be continuing our NIFTY and BANK NIFTY trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,120 with a gap-up of 130 points. The index continued the up move to 19,175 levels, took resistance there, gave a sharp fall of more than 110 points to 19,065 levels, and moved back up. Nifty closed at 19,133, up by 144 points or 0.76%.

BANK NIFTY started the day at 43,018 with a big gap-up of 317 points. The index moved up with a lot of strength to the resistance zone of 43,300 levels and fell 500 points. It recovered slowly. BNF closed at 43,017, up by 316 points or 0.74%.

U.S. markets closed in the green(+1.7%). The European markets also closed in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in slight green(+0.13%).

GIFT NIFTY is trading in green at 19,354.

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

NIFTY has supports at 19,055, 19,000 and 18,930. We can expect resistances at 19,175, 19,230 and 19,310.

BANK NIFTY has supports at 42,810, 42,640 and 42,450. Resistances are at 43,100, 43,260 and 43,390.

Foreign Institutional Investors net–sold shares worth Rs 1,260 crores. Domestic Institutional Investors net-bought worth Rs 1,381 crores.

INDIA VIX fell to 11.07.

The market had an interesting day for the NIFTY expiry. After a gap-up, the market shot up then crashed and recovered.

Although there was good volatility in NIFTY, the moves were crazy in BANK NIFTY.

Coming back to the market levels, BANK NIFTY took resistance at its 200-day EMA yesterday. Both indices still have major levels in front of them to clear.

NIFTY has an important level at 19,230. BANK NIFTY has 43,360. These levels could get broken today with a gap-up and moves.

Reliance is reaching its 200-day EMA level.

HDFC Bank did not show much bullishness after disbursing a loan of Rs 2,000 crore to Vodafone Idea (Vi). Meanwhile, Vi was up 8%. I feel this shouldn’t be a problem for the bank, and it will bounce back soon.

Behind global markets’ bullishness, there is the U.S. treasury yield falling after the Fed announcement. Dow Jones is reaching a 1-month high.

Auto stocks are also positive with amazing Tata Motors results and auto sales numbers.

Hope you have a good Friday trade today!

We will be entering fresh NIFTY Trades today. You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,064 with a small gap-down of 15 points. After opening, the index fell more than 120 points intraday in a channel pattern. Nifty closed at 18,989, down by 90 points or 0.47%.

BANK NIFTY (BNF) started the day at 42,694 with a gap-down of 150 points. Throughout the day, the index consolidated in a 180-point range between 42,600 and 42,780 levels. BNF closed at 42,700, down by 145 points or 0.34%.

U.S. markets closed in the green(+0.67%). The European markets also closed in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in slight green(+0.11%).

GIFT NIFTY is trading in green at 19,215.

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

NIFTY has supports at 19,000, 18,930 and 18,850. We can expect resistances at 19,055, 19,150 and 19,230.

BANK NIFTY has supports at 42,640, 42,450 and 42,270. Resistances are at 42,815, 43,100, 43,260 and 43,390.

In NIFTY, the option chain is indicating a range of 18,800-19,100 for today’s expiry. Put to call ratio is 0.68, indicating bearishness.

Foreign Institutional Investors net–sold shares worth Rs 1,816 crores. Domestic Institutional Investors net-bought worth Rs 1,622 crores.

INDIA VIX is slightly higher at 12.04.

The volatility in the U.S. markets continued with the U.S. Federal Reserve’s interest rate decision yesterday.

Fed Chair kept the interest rate unchanged at the 22-year high. This prompted market to move up.

There is a high call OI interest at the 19,100 for NIFTY. This means two things; it could be a tough level to break, and that once it is broken it could give a good upside move.

BANK NIFTY has its 200-day EMA at 43,350 at Monday’s high. This will be an important resistance zone for the index.

GST collections are at the second-highest ever at Rs 1.72 lakh crore in October, up 13% YoY.

As I said yesterday too, it is the beginning of the month, so watch out for economic data including auto sales. 

Let us see if bulls can give a proper breakout! Hope you have a good NIFTY expiry today!

You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 19,232 with a gap-up of 92 points. There was an immediate sell-off till the previous swing or support zones of 19,100. Then, Nifty consolidated with a bit of volatility and gave a negative closing at 19,079, down by 61 points or 0.32%.

BANK NIFTY started the day at 43,356 with a gap-up of 317 points. It quickly came under selling pressure and fell to yesterday’s breakout levels of 42,800. Then, the index tried moving up but could not give a breakout. BANK NIFTY closed at 42,845, down by 193 points or 0.45%.

U.S. markets closed in the green(+0.4%). The European markets also closed in the green.

What to Expect Today?

Asian markets are mostly trading in the green.

The U.S. Futures are trading in slight red(-0.19%).

GIFT NIFTY is trading flat at 19,131.

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

NIFTY has supports at 19,055, 19,000 and 18,930. We can expect resistances at 19,150, 19,230 and 19,310.

BANK NIFTY has supports at 42,810, 42,450 and 42,270. Resistances are at 43,100, 43,260 and 43,390.

In NIFTY, the option chain is indicating a range of 19,000-19,200 for Thursday expiry. Put to call ratio is 0.76, indicating bearishness.

In BANK NIFTY, the option chain is indicating a range of 42,500-43,000 for today’s expiry. Put to call ratio is at 0.85, indicating bearishness.

Foreign Institutional Investors net–sold shares worth Rs 696 crores. Domestic Institutional Investors net-bought worth Rs 340 crores.

INDIA VIX is slightly higher at 11.82.

U.S. markets were volatile yesterday, with a fall initially and closing in the green. This volatility is ahead of the Federal Reserve interest rate decision tonight.

The expectation is for interest rates to remain flat, but traders will be more interested to hear from Fed Chair Jerome Powell what the future holds.

FINNIFTY expiry was calm, if you keep aside the first 15 minutes. The hope from BANK NIFTY is the same today.

BANK NIFTY has some strong levels to watch out for, especially on the call side. Put sellers are also looking to make sure 42,500 is protected. 

Meanwhile, for Reliance, India has hiked windfall tax on petroleum crude to Rs 9,800/ton from Rs 9,050/ton with effect from today. Have a watch out if weakness is seen.

It is also the beginning of the month, so watch out for economic data including auto sales starting today. 

Hope you have a good BANK NIFTY expiry today!

You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day flat at 19,053. Right after opening, the index came crashing down till Friday’s low— a fall of nearly 145 points. It recovered nearly 220 points from the day’s low. Nifty closed at 19,140, up by 93 points or 0.49%.

BANK NIFTY started the day at 42,721 with a small gap-down of 60 points. After falling 420 points initially till Friday’s close, the index recovered 720 points— touching a high of 43,110 levels. BANK NIFTY closed at 42,782, up by 501 points or 1.19%.

U.S. markets closed in the good green(+1.5%). The European markets closed in the green.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading in slight red(-0.15%).

GIFT NIFTY is trading flat at 19,208.

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

NIFTY has supports at 19,100, 19,055, and 19,000. We can expect resistances at 19,230, 19,310 and 19,366.

BANK NIFTY has supports at 42,810, 42,450 and 42,270. Resistances are at 43,100, 43,260 and 43,390.

FINNIFTY has supports at 19,230, 19,150 and 19,090. Resistances are at 19,320, 19,400 and 19,450.

Foreign Institutional Investors net–sold shares worth Rs 1,761 crores. Domestic Institutional Investors net-bought worth Rs 1,328 crores.

INDIA VIX is at 11.49.

Short covering triggered most of the moves in our market yesterday. Despite moving down initially, Friday’s low was taken as support and a big move was seen back up.

Reliance pushed the market up, contributing a good chunk of move in NIFTY. HDFC Bank also tried moving up. Despite this, both stocks are still under their 200-day EMAs.

The U.S. markets are up 1-1.5% but GIFT NIFTY has not reacted yet. Since Asian markets are all in the red, and our markets moved up yesterday, there might not be a big opening movement.

Today is the FINNIFTY expiry and I have shared the levels I will be watching above. Hoping that it will be consolidation after multiple weeks of volatile expiries. PCR values indicate bulls are more confident, and that the market might hold its shape.

Once FINNIFTY enters the consolidation zone(draw a rectangle in daily charts), there could be smaller movements from there.

In other news, Chris Wood, Global Head of Equity Strategy at Jefferies, has warned that a 25% market correction looms If BJP loses in 2024.

But for now, anyway, put sellers have regained some confidence and the market is moving up! The question is will FINNIFTY support it today!

You can check out our trades on marketfeed app or our website!

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

What Happened Yesterday?

NIFTY started the day at 18,928 with a gap-up of 71 points on Friday. The index continued to move up 150 points by crossing the key resistance of 19,000 round levels till Wednesday’s low of 19,080 levels. Nifty closed at 19,047, up by 190 points or 1.01%.

BANK NIFTY started the day at 42,555 with a gap-up of 275 points. BNF gradually continued the up-move till Wednesday’s closing levels of 42,840 levels— making a nearly 360-point intraday movement on the upside! BNF closed at 42,782, up by 501 points or 1.19%.

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

What to Expect Today?

Asian markets are trading mixed, but Japan is 1% in the red.

The U.S. Futures are trading in green(+0.33%).

GIFT NIFTY is trading flat at 19,094.

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

NIFTY has supports at 19,000, 18,830 and 18,745. We can expect resistances at 19,055, 19,110 and 19,230.

BANK NIFTY has supports at 42,270, 42,000 and 41,830. Resistances are at 42,810, 43,000 and 43,100.

Foreign Institutional Investors net–sold shares worth Rs 1,500 crores. Domestic Institutional Investors net-bought worth Rs 313 crores.

INDIA VIX is at 10.90.

The market showed good bullishness on Friday, with BANK NIFTY even closing at the day-high. The bears got a bit of shock as NIFTY crossed 19k once again.

Reliance results came out after the market hours on Friday. Net profit rises 30% YoY to Rs 19,878 crore despite a dip in O2C revenue. We will have to wait and watch how the stock opens today.

Today the level to watch out for in NIFTY will be 19,100 on the upper side. If NIFTY can break this in the first half, it would indicate that the bullishness from Friday is continuing.

PCR levels of NIFTY and BANK NIFTY are still bearish, but better than last week. 

Once Reliance impact is done today, the next thing to do would be the Fed Interest Rate decision on Wednesday.

The week is starting fresh today. Trade safe!

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