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Last Week in Nifty

Nifty opened the week at 16,770 on Monday and was incredibly bullish for the week.

With many green days, the index ended at 17,340 with power. Except for Wednesday, all days Nifty closed 100-150 points in the green.

The broader markets also recovered with the realty index going up more than 10% last week. 

With positivity from Jerome Powell’s statements on the U.S. economy, all global markets were rallying.

Reliance gained power and touched fresh 52-week highs by gaining nearly 6% last week. HDFC Bank also gained in the week with the bullishness we expected last week.

Bharti Airtel gained more than 10% in the week, with fundraising plans and noting increasing tariffs by Chairman Sunil Mittal.

Auto stocks were generally weak even though the index ended in green. Auto sales data were not great for Maruti and M&M. Tata Motors showed a good increase in sales for August.

Zomato shot up to all-time highs with more than a 15% gain this week to near Rs 150. Major investor of the company, Info Edge also closed with gains of nearly 5%.

Laxmi Organics also gained 10% in the week, now extending gains more than 160% after their IPO in March. 

Bank Nifty shot up in the week gaining more than 3%. The index gained to cross even 37,000 for the first time since February. However, the index closed below this mark for the week.

GDP data came out highly positive for the last quarter in India. The U.S. showed an unemployment rate at a 17-month low even while reporting lower than expected jobs growth.

Foreign Institutional Investors returned as buyers and net bought Rs 6,867 crores worth of shares in the week. Domestic Institutional Investors have sold for over Rs 1,421 crores this week and started booking profits.

Week Ahead in Nifty

Volatility is slowly returning in the market with India VIX moving 10% up this week. Profit booking mentality is taking over the market.

Heavyweights Reliance and HDFC Bank might take a small rest after their rallies in August. Reliance still has power with its fresh breakout in the last week.

The highest call OI stands at 17,00 followed by 16,500. Highest Put OI is at 17,000 followed by 17,200. 

16,500 will be the first important support zone for the zone for Nifty with stronger support at 16,300. 

Bank Nifty has formed high call option interest at the 37,000 mark, indicating some slowdown in the index. We will have to keep watching this level in the index and if it will be broken.

There are only 4 trading days this week, with Friday being a holiday on account of Ganesh Chathurthi.

IIP Data, which shows the industrial output for the month of July is coming out on Friday. The data is expected to come positive and give the bull rally some validation.

Market experts are expecting Nifty to touch 17,500 soon, but profit booking continues as a fear. The 17,200 and 17,000 levels will act as good supports going ahead.

Brent Crude Oil prices showed a breakout in the charts, and we can expect higher petrol prices is the only certainty we have for the coming week.

What do you think will happen to Nifty this week? Will the market see profit booking or continue the rally? Let us know what you think in the comments section of the marketfeed app.

Last Week in Nifty

Nifty opened the week at 16,592 on Monday and fell down sharply. There was good support taken at 16,400, and this level was not seen at all later.

In the rest of the week, Nifty shot up crossing major levels nearby. Nifty ended the week at 16,705 after hitting an all-time high of 16,722.

The broader markets outperformed in the week with smallcap and midcap indices bouncing back up.

Yesterday, US Federal Reserve Chairman Jerome Powell hinted about slowing down bond purchases by the end of 2021, to slow down liquidity in the economy. He also added that there are no plans to change interest rates.

Auto stocks were weak with Maruti falling 3.3% in the bullish week and the auto index was in the red. Tata Motors was however flat and might be a sign of strength for the coming week.

Reliance moved up slowly in the week along with a green closing in HDFC Bank. 

Insurance stocks NIACL and GICRE moved up in the week after FM Nirmala Sitharaman indicated possible privatisation of the companies.

Bank Nifty continued to remain in its consolidation zone around 35,000 and 36,000 if we leave out the Monday fall. Bank Nifty closed the week at 35,627, up nearly 200 points from Monday’s opening.

Metals gained back slowly after last week’s fall with the FMCG index closing with only small gains.

Foreign Institutional Investors net sold Rs 6,833.33 crores worth of shares in the week, with currently the month’s net outflow now over Rs 7,600 crores. Domestic Institutional Investors have bought for over Rs 8,000 crores this month. 

Week Ahead in Nifty

Nifty gave a small breakout by Friday in the week, and bullishness is expected to continue. 16,700 will be good support after opening tomorrow.

Reliance and HDFC Bank movements are expected to continue. These stocks are the heavyweights of Nifty.

The highest call OI stands at 16,700 and 17,000. Highest Put OI is at 16,600 followed by 16,700. The strong call and put Open Interest at 16,700 indicate consolidation for the week. 

16,500 will be the first important support zone for the zone for Nifty with stronger support at 16,300. 

Bank Nifty struggle continues and the support at 35,000 will have to be watched. The breakout we expect might also be around the corner as the open interest data shows slight bullishness.

GDP Data for the first quarter of FY22 will be released on Tuesday. Manufacturing PMI, auto sales data and more are also expected in the first week of September.

Jerome Powell’s remarks had pushed up SGX Nifty to above 16,800 yesterday. But the Afghanistan blasts and retaliation by the U.S. forces creating fear in the market.

Retail participants are planning to stay away from trading on September 1st, with #notradingday trending on Twitter. This is to show protest against SEBI’s new margin rules, which lower leverages for intraday trading. We may also see reduced volumes in the market.

What do you think will happen to Nifty this week? Will you be observing the #notradingday on September 1st? Let us know in the comments section of the marketfeed app.

Last Week in Nifty

Nifty opened the week at 16,518 and moved up in the first 2 days of the week. On Wednesday, the market opened with a huge gap-up following a news in HDFC Bank’s counter. 

Thursday was a holiday on account of Muharram, and markets moved down with a huge gap-down on Friday. Nifty closed at 16,450, with a red candle for the week.

HDFC Bank opened with a huge gap-up on Wednesday after the Reserve Bank of India allowed the bank to start accepting credit card applications again.

Bank Nifty moved down after consolidation and closed at 35,033, with a red candle in the week.

FMCG stocks saw heavy buying in the week as smart money rolled into ‘safer’ sectors including FMCG and IT.

Midcaps and smallcaps continued their correction in the week, with most stocks closing in the red.

Metals fell heavily, especially on Friday with reports that international iron prices had fallen sharply. The index fell more than 7% in the week.

CarTrade listed in the market in the red after its IPO. Is this the beginning of unsuccessful IPOs.

Foreign Institutional Investors net sold Rs 4,314.4 crore worth of shares in the week, with currently the month’s net outflow now at Rs 819 crores.

Week Ahead in Nifty

Nifty is expected to hold steady in the week, just like the last. Even with the bearish sentiment, Nifty showed net consolidation in the week.

The uncertainties surrounding Reliance was over last week, and the stock had moved up. More up movement is expected. A similar case is seen with HDFC Bank now, and the stock may calmly move up next week.

Midcaps and smallcaps are expected to remain volatile this week, with the money continuing to move to largecaps.

The highest call OI stands at 16,600. Highest Put OI is at 16,000 and 16,400 levels. It is the monthly expiry this week, and we may see some volatility in the week with the tight open interest zones also.

16,290 will be the first support zone after which 16,000 is the next support for Nifty in the near term. 

Bank Nifty continues to struggle near the 35,200-35,300 levels. A breakout is expected in the index soon, with the index continuing to underperform. 

The air of confusion around HDFC Bank is now over, and the stock may slowly move up now. SGX Nifty is up more than 100 points and Monday may see a gap-up in the market.

What do you think will happen this week? Will Nifty see some correction? Or do you think there will be a bounce back in the coming week? Let us know in the comments section of the marketfeed app.

Last Week in Nifty

Nifty continued its breakout for the second week, rallying from nearly 15,500 to now closing at 16,500.

Heavyweights pushed the index up with IT stocks the main strength for the market. From Monday to Thursday, a proper consolidation was seen 

FIIs continued to be net buyers this week and Nifty closed at 16,529, up more than 275 points or 1.7% from Monday’s open.

Bank Nifty could not continue the rally and cross last week’s high. The index 340 points or 0.95% up in the week but below the 36,200 mark.

IT stocks turned bullish with Nifty 50 stocks including Infosys, TechM and TCS hitting fresh high market capitalisations. 

Midcaps and smallcaps turned bearish once again with both indices down more than 1%. The indices had fallen sharply on fears that BSE is likely to bring additional measures to prevent unusual movement in mid and smallcaps with weekly, monthly and quarterly upper and lower circuits.

Foreign Institutional investors pumped in Rs 879.2 crore while Domestic Institutions bought for Rs 636.38 crores in the equity market.

Week Ahead in Nifty

Nifty was expected to be in consolidation last week, and was in exactly such a mood till Thursday.

On Friday, the index rallied up and crossed 16,500. The close was bullish and we may see a gap-up opening tomorrow.

Most Nifty 50 stocks have completed their results announcements for the April-Jun quarter and many underperformed. If you look at the charts of many Nifty50 stocks, they are still far from their 52-week highs.

4 stocks will be listing in the market tomorrow with us most interested in Devyani International’s listing.

Expecting consolidation in the general market along with a recovery rally in smaller stocks.

The highest call OI stands at 16,800. Highest Put OI is at 16,400 levels. This indicates bullishness with or consolidation with lot more put contracts being made in the market.

As we talked last week, 16,000 will act as a strong a strong support for Nifty in the near term. 

Bank Nifty would need to close above 36,200 to confirm bullishness and shoot up. The index is still quite far from its 52-week highs and a rally could take Nifty to higher levels.

FIIs did return as strong buyers in the market, and Nifty did rally this week. Can keep an eye on Nifty50 stocks which have been underperforming, including auto stocks.

Reliance also had a bullish close on Friday. If there is one thing that the market does not like, it is uncertainity. Now that the confusion regarding Reliance-Future Group deal is over, the stock may give a breakout soon.

What do you think will happen this week? Will Nifty continue its rally? Can midcaps recover, or will Mintu continue to flow into largecaps? Let us know in the comments section of the marketfeed app.

Last Week in Nifty

Indian markets broke their 2-month consolidation in a 500 point zone last week and rallied to fresh all-time highs. The market opened with Nifty at 15,874 on Monday, more than 100 points up from the previous Friday’s close.

As we said in last week’s article, a close above 16,000 will confirm Nifty’s bullishness and push it higher to 16,200 and above as happened. 

The first week of August saw FIIs returning as net buyers in the market, and Nifty closing the week at 16,238, more than 3% and 450 points up.

Bank Nifty finally outperformed by touching the 36,000-mark for the first time since March. The index of banks was boosted by results from SBI. ICICI Bank and SBI touched fresh 52-week highs, and HDFC Bank and Kotak Bank rallied 5-7% each after the July sell-offs.

Bank Nifty also closed more than 1200 points or 3.5% up from previous week’s close.

The Vodafone Idea craziness continued with the stock falling to Rs 4.6 after Kumar Mangalam Birla’s resignation from the Chairman post of the company and UK’s Vodafone saying they are not interested in pumping any more capital to Vi. The stock however closed 19% up on Friday after the Government sought to remove the retrospective tax.

With the confusion in Vodafone Idea’s camp, Bharti Airtel moved up more than 6% in the week. The stock is near its 52-week high now. Reliance was up nearly 5% for the week before falling on Friday afternoon after the Supreme Court ruled in favour of Amazon in the Future Retail deal.

It was a week of the heavyweights with HDFC also moving more than 6%, breaking out after announcing results on Monday. 

IT, Auto, Realty and FMCG stocks also gained in the week were financial stocks outperformed. Meanwhile, Midcap and Smallcap stocks stayed flat as money flowed into the heavyweight stocks.

Foreign institutional investors turned net buyers in the first week of August for more than Rs  2,616 crores. They had sold heavily in July in the cash market for Rs 23,193 crores.

Week Ahead in Nifty

Market experts see positivity in the return of FIIs as net buyers in the cash market. This trend may continue is what many investors feel. The breakout from the 2-month consolidation zone has given strength to Nifty to go up even further.

More Nifty 50 are set to report Q1 earnings including Tata Steel, ONGC, Coal India, Shree Cement, Power Grid, BPCL, Eicher Motors, Hero MotoCorp, and Grasim Industries. A total of 1,900 companies are set to announce their results this week.

For the second week in a row, 4 fresh IPOs are coming including CarTrade, Nuvoco Corporation tomorrow. Aptus Value Housing Finance India and Chemplast Sanmar will open their IPOs on Tuesday.

The highest call OI stands at 16,300. Highest Put OI is at 16,000 levels. 

Nifty closing above 16,200 has confirmed that going ahead 16,000 will be a strong support for the index. 

Bank Nifty closed the week under the 36,000 level, and this level needs to be watched in the coming week as well.

U.S markets closed on Friday near their record highs. We will be adding how the Futures of these global markets and Asian markets are performing in our pre-market report, tomorrow morning. 

If FIIs return as strong buyers in the market, then NIFTY is likely to rally more this week. But current personal expectations are that Nifty will be consolidating this week as individual stock specific rallies continue. 

Midcaps and smallcaps will have to be watched, to see if they continue consolidation or move up more.

Reliance’s movements will have to be watched closely after Friday’s fall.

What do you think will happen this week? Will Nifty continue its rally? Or are you expecting consolidation? Let us know in the comments section of the marketfeed app.

Last Week in Nifty

Another week with bulls and bears unable to move the market to either side. After opening at 15,856 on Monday, Nifty made 4 red candles in the 5 trading days and even tested 15,500. 

Support from DIIs continued to be strong and Nifty ended the week at 15,763, down nearly 0.6% from Monday’s opening. 

Metals are back into the bullish mode with policy changes from the Chinese government, increasing tariffs on exports. IT stocks also saw buying with Infy, TechM, Coforge and many more hitting fresh 52-week highs. TechM jumped 7% on Friday after the results.

IDFC First Bank announced Rs 630 crores loss due to higher provisions. Bandhan Bank reported lower profits in Q1.

Auto stocks, Pharma, FMCG and Banks saw selling pressure in the week. Realty remained somewhat stable.

Reliance was bearish throughout the week, moving down on all 5-days after its results on Monday. Looking for a trendline breakout in the week, as the stock has reached its more than 2-month lows.

Foreign institutional investors sold heavily in July in the cash market for Rs 23,193 crores. This was the highest since March 2020, the month of the Covid crash. Out of this, more than Rs 10,000 crores was from last week alone.

But despite this, Nifty 50 has not fallen at all in July as Domestic Institutional Investors bought for Rs 18,393 crores this month, the highest since March 2020.

Week Ahead in Nifty

Markets this week are set to open with reaction to results from Nifty 50 companies UPL and Britannia. Bandhan Bank had also announced lower profits as provisions for bad loans increased.

There will also be announcements of auto sales data in the first days of the week. PMI numbers will be watched by investors this week, as last month’s data was below estimates due to the second wave and lockdowns.

Even on the monthly expiry, Nifty showed net consolidation even with the volatility. Nifty continues to consolidate between 15,500 and 16,000.

More Nifty 50 are set to report Q1 earnings including HDFC, Bharti Airtel, SBI, Titan, M&M, Cipla, Adani Ports, Hindalco Industries and Divis Labs. National Aluminium’s and Hindalco’s results will be watched by traders to predict Nifty Metal movements.

Berger Paints, Indigo Paints, JK Tyre, Tata Consumer, Tata Power, ZEEL, Apollo Tyres, Indiabulls Housing, BEML and Adani Enterprises are some other stocks announcing results.

4 fresh IPOs are coming this week – Devyani International, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics. Devyani is likely to see the highest investor interest as it is the operator of Pizza Hut and KFC in India. Glenmark LifeSciences will list this week after a successful IPO.

The highest call OI stands at 15,900. Highest Put OI is also at a very aggressive 15,700 level. But there are currently many more call option contracts currently active in the market.

Nifty has closed below the 15,800 and Bank Nifty also was weak and closed below the 35,000 level. Even with intraday fall on Wednesday, Nifty has failed to close below 15,630. More weakness will be seen if this happens. The next major support will be at 15,450, with many more smaller levels in between.

On the other side, a close above 16,000 will confirm Nifty’s bullishness and push it higher to 16,200 and above.

Bank Nifty also has good support at 34,000, if closing below may result in bearishness.

Global markets including S&P 500 and NASDAQ closed slightly in the red on Friday night. We will be adding how the Futures of these global markets and Asian markets are performing in our pre-market report, tomorrow morning. 

Last week, we talked about how Nifty was in a mood to consolidate and more or less was what we saw. Nifty broke the 15,630 support once again but domestic institutions supported and pushed the index higher. Clearly, DIIs are supporting the market even when FIIs sell. Whose money will dry out first is the question.

I feel that the results from SBI and HDFC along with Auto Sales data and first week’s trend will be a deciding factor for Nifty this month.

What do you think will happen this week? Will FIIs return as net buyers in August after 4 consecutive months of selling? Or will DIIs finally run out of money to invest in the market? Let us know in the comments section of the marketfeed app.