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Markets Fall Sharply from the Morning High. LIC at 1-Month High – Post Market Analysis

The market moves down in the second half and loses the early gains.

NIFTY opened the day at 15,913 with a gap-up and shot up. The index even briefly crossed the 16k mark but quickly fell from there. The fall intensified after 1:30 PM and a 240-point fall was seen from the day-high. NIFTY closed at 15,810, down by 24 points or 0.15%.

BANK NIFTY started the day above 34k at 34,114. It moved up nearly 250 points but took resistance at the high made on June 10th. An incredible fall of 600+ points brought the index back below. Bank Nifty ended the day at 33,815, down by 125 points or 0.37%.

All sectoral indices closed with consolidation in the day. Only NIFTY Media (-0.9%) moved well.

Major Asian markets closed mixed today. European markets are all trading in the red currently.

Today’s Moves

PowerGrid (+1.6%) touched a 2-week high and closed as the top-gainer in NIFTY 50.

RBL Bank (-6.9%) fell sharply again after deposit growth for the month of June did not impress investors.

ITC (-1.7%) saw a small profit booking and closed as the top-loser from NIFTY. As we discussed yesterday, 292-302 is a very crucial zone for ITC in the daily charts.

LIC (+1.5%) touched a near 1-month high and closed above Rs 700 for the day.

Markets Ahead

After the U.S. markets remained closed yesterday, our markets opened with a gap-up tracking futures prices.

But afternoon, all U.S. Futures and European markets fell into the red and pulled us down along with them.

Let’s point out the major reasons for the afternoon fall.

  • Nifty hit 16k for the first time in three weeks and a profit booking was obvious.
  • India Rupee continued its weakness against the US dollar.
  • U.S Futures were trading green in the morning. But later, they fell from highs and turned red.
  • US markets were on holiday yesterday. They may not continue the greenery from Friday and are expected to open in the red.
  • Saudi Aramco raised August’s oil price for Asian customers by $2.80 a barrel from July to $9.3 a barrel.

Nifty once again failed to make a daily candle close above 15,900. Zooming in, Nifty’s struggle above 16k is crystal clear. 

It feels like institutions are preparing our market for this expiry by making it undirectional. Today’s trading has brought a lot of opportunities and risks for this Thursday. 

The level for Bank Nifty is 34,000. Check its day candle chart since January 2021 and you will find too many wicks in the 34,000-34500 region.

HDFC Bank is trading near the major support near 1350 and ICICI Bank has support in the 695-700 region. This makes Bank Nifty more interesting.

According to S&P, India’s Services PMI grew at the fastest pace in 11 years in June 2022 to 59.2 from 58.9 in May. 

Did you catch today’s fall? Let us know in the comments down below.

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FMCG Stocks Outperform as Markets Close at Day-High. Bank Nifty up 1.2% – Post Market Analysis

Markets move up on the first day of the week.

NIFTY opened the day flat at 15,753 and was volatile. Eventually, it moved down and strongly bounced back up to the day high. After 2:45 PM, there was a breakout and the index moved up. NIFTY closed at 15,835, up by 83 points or 0.53%.

BANK NIFTY started the day at 33,613 flat and moved sideways. It traded in a 230-point zone for more than 5 hours and then gave a strong breakout. It nearly touched the 34k mark before the market closed. Bank Nifty ended the day at 33,940, up by 401 points or 1.20%.

NIFTY FMCG, NIFTY Bank, Nifty Finserv and NIFTY PSU Bank closed well in green. Meanwhile, NIFTY Metal fell by nearly 1%.

Major Asian markets closed mixed today. European markets are all trading in the green.

Today’s Moves

Hindustan Unilever(+4.07%), Britannia(+3.24%), ITC(+2.66%) and Tata Consumer(+1.47%) were among the major FMCG stocks that closed in the top gainers of NIFTY. ITC continued onto multi-year highs

IndusInd Bank(+3.07%), ICICI Bank(+2.30%), Axis Bank(+1.62%) and SBI(+1.42%) kept the banking indices up. IndusInd Bank reported healthy growth in deposits and loan disbursements.

After Edelweiss said ONGC’s gas price hike from October 2022 will be positive for city gas distribution companies, Gujarat Gas(+4.87%) shot up.

Avenue Supermarkets(+3.15%) or Dmart shares moved up after the company reported Q1FY23 sales of Rs 9,806 crore, a growth of 95% compared to last quarter.

IDFC First Bank jumped 5.58% after the Q1FY23 business update showed that loans grew 6.7% compared to the last quarter.

ONGC(-3.85%) and OIL(-5.70%) continued their falls from Friday and closed deep in the red.

Markets Ahead

Reliance took support at the near 3-month low of Rs 2,366 and bounced back, even while ONGC continued its Friday fall.

Even after the gap-down opening, it took support at this exact zone and moved back up showing strength. But the stock could break this zone in the coming days and pull NIFTY down along with it so definitely keep a watch.

NIFTY moved up in the day but is still not in a recovery zone. Meanwhile, Bank Nifty has closed at its highest point since the 13th of June fall.

This must be noted along with the rise in FMCG stocks.

Are you holding ITC in your portfolio? Let us know in the comments down below.

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Reliance Falls 8% but NIFTY Stays Stable. ITC at 3-Year High – Post Market Analysis

Reliance Drags Nifty Down, But Other Heavy Weights Erase The Loss.

NIFTY opened the day at 15,703 and consolidated there for a few minutes. Then Reliance dragged the index to a day low, a fall of nearly 200 pts. Nifty was able to take support from 15,500 and recover 1.8% from there. NIFTY closed at 15,752, down by 28 points or 0.18%.

BANK NIFTY started the day at 33,264 with a gap down of 160 pts. The fall in Nifty did not affect Bank Nifty since it had strong support around 33,100 levels. The index was making Higher Highs and Higher Lows throughout the day. Bank Nifty ended the day at 33,539, up by 114 points or 0.34%.

All the indices closed in the green. Nifty Finserv (+0.95%), Nifty FMCG (+2.8%), and Nifty Realty (+1.5%) closed with major changes.

Major Asian markets closed in the red today. European markets are all trading slightly in the green.

Today’s Moves

ITC (+3.9%) hit a 3-year high and closed as the Nifty 50 Top Gainer. 

All the FMCG stocks closed in green, led by Britannia (+3.4%), Dabur (+3%), GodrejCP (+3.1%), HUL (+2.3%), Marico (+2.7%), Tata Consumer (+1.8%), UBL (+2.9%) and McDowell (+3.8%).

People always tend to park their money in the defence sector when the market is unclear.

Reliance (-7.2%) fell after India Government raised export duty on Diesel and Petrol. 

Shares of ONGC (-13.5%) OIL (-14.9%), Chennai petro (-5.1%), and MRPL (-10%-LC) also saw a sharp fall after the government imposed a tax on domestic crude oil production.

HindPetro (+5.1%) and BPCL (+3.2%) moved up as an increase in the supply of local crude is expected to cool off local prices.

Energy related stocks- PowerGrid (-2.5%), GAIL (-1.9%), NTPC (-1.2%), Coal India (-1.2%) fell down.

Heavyweight including HDFC Bank (+0.43%), INFY (+1.2%), HDFC (+1.8%), ICICI Bank (-0.47%), TCS (+1.4%) and Kotak Bank (+0.40%) recovered around 2% from day lows to save Nifty.

Bajaj Finance (+3.9%) and Bajaj Finserv (+3.5%) also moved up.

Tata Motors (+0.22%), Maruti (+0.80%), Eicher Motors (-0.41%), Bajaj Auto (-2.2%), and Ashok Leyland (-1%) reported their June month sales numbers. They did not make many movements because the Auto sector was already in a rally. Most of them reported better than estimated sales.

Federal Bank (+3.8%) moved up as the bank approved fundraising of Rs 12,000 crore via debt and equity.

SpiceJet (+2.7%) and Indigo (+2.7%) gained as India tightened rules for the export of gasoline and jet fuel.

India has raised the import tax on gold to 12.5% from 7.5%. Muthoot Fin (+6.8%) and Manappuram (+3.7%) closed in the green. Also, Muthoot Finance received approval to open 150 new branches.

Markets Ahead

Today’s first one hour was completely controlled by Reliance. It fell more than 8% from yesterday’s close- A very unusual action from a heavyweight. Even though some buying came at 2,370 level, the stock couldn’t recover. 

The market needed help from all the other heavyweights to neutralise the Reliance effect. Reliance contributed 134 negative points to Nifty. 

Once again Nifty closed in the red and Bank Nifty in the green. Bank Nifty had an uptrend intraday after some days.

India Finance Minister said that June GST Collection is at 1.45 lakh crore compared to 1.41 lakh crore in May. June GST collection is 56% compared to the same month of last year.

Today India Rupee hit 79 against US Dollar for the first time. How is it going to affect Foreign Institutional Investments?

India’s Manufacturing PMI index by S&P was reported at 53.9 in June against 54.6 in May.

Did you buy Reliance shares when it fell to 2,370 levels? Let us know your thoughts in the comments section of the marketfeed app!

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Markets Consolidate and Close Flat for the June Month Expiry – Post Market Analysis

NIFTY opened the monthly expiry day at 15,774 and shot up to test resistance in the 15,850-880 region. Then it fell nearly 1% to day’s low. European markets opened with a huge cut, but to surprise, Nifty tried to recover after 12:30 PM. NIFTY closed at 15,780, down by 18 points or 0.12%.

BANK NIFTY started the day at 33,180 and gave a false bullish indication in the first 30 minutes. The 33,350 level acted as a super support today, helping the index to end with gains. Bank Nifty ended the day at 33,425, up by 155 points or 0.47%.

Only Nifty Bank (+0.47%) and Nifty Finserv (+0.42%) closed in the green while Nifty Auto (-1.2%), Nifty IT (-1%), Nifty Metal (-2%), Nifty Realty (-1.1%) and Nifty PSU Bank (-1%) moved down.

Major Asian markets except China closed in the red today. China’s June factory activity is showing growth, with relaxations in Covid restrictions. European markets are all currently down more than 2% due to recession fears.

Today’s Moves

IOC shares closed above Rs 74 as the stock started trading ex-bonus today.

Oil stocks had a red day, led by BPCL (-2.5%),OIL (-3.8%), GAIL (-2.9%), ONGC (-1.6%), HindPetro (-3%), and Chennai Petro (-3.9%).

Banking stocks- Axis Bank (+1.8%), SBIN (+1.4%) and Kotak Bank (+1.1%) featured in the Nifty 50 Top Gainers list.

Insurance stocks HDFC Life (+1.6%), ICICI PruLi 9+1.3%), and SBI Life (+1.3%) moved up, but no luck for LIC (-0.68%).

All the stocks from Nifty Metal fell more than 1%. JSW Steel (+2%), Jindal Steel (-3.3%), National Aluminum (-3.3%), SAIL (-2.1%), Tata Steel (-1.6%), and Vedanta (-3.9%) are notable names.

MCX (+2.6%) moved up as SEBI approved FPIs to trade in commodity derivatives.

MTAR Tech (+2.1%) secured an order worth Rs 175 crores.

Cipla (-3.2%) once again closed in the red. The stock is trading at a support region near Rs 900.

Wonderla Holidays (+3.5%) will develop an amusement park project in Bhuvaneswar. VGuard (+1.9%) also ended in the green.

Devyani International (+3.6%) opened its 1000th outlet and will be opening another thousand outlets in the coming years.

Zomato (-6%) turns out to be the new word for going South.

Markets Ahead

The first quarter of the 2023 Fiscal Year ended today and Nifty is down nearly 10% compared to the previous quarter. This is the biggest Q1 fall since 2008.

Nifty opened the monthly expiry day with some hope for the bulls. But the scene was different after the first 30 minutes. It is good for our market to consolidate in this region, especially when European markets are having negative cues.

Bank Nifty managed to close in the green while Nifty ended with small loss. Post-Covid levels in the 33,000-350 region is giving good support to Bank Nifty.

Heighweights showed higher volumes in the last half an hour when traders started to close their monthly expiry positions.

India Finance Minister said that Rupee depreciation will impact the economy, but still, that’s not a worry because our currency is relatively better placed against the dollar.

The 2,660-2,685 zone is a major resistance for Reliance. We all know what happened earlier when the zone was broken.

How was this quarter for you, Loss or Profit? Every day is a learning opportunity!  Let us know your thoughts in the comments section of the marketfeed app!

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Global Cues Help NIFTY Move Up. M&M Continues Breakout- Post Market Report

A calm end to the week. Nifty Auto stocks performs again.

NIFTY opened the day at 15,657 with a gap-up of 100pts. The index had a less volatile day, moving mostly in a 100 pts region. 15,630 – yesterday’s resistance acted as a good support today. Nifty closed at 15,699, up by 142 points or 0.92%.

BANK NIFTY started the day at 33,434 and fell into a consolidation mode.The index moved in a 220 pts region, using 33,450 as a support. Bank Nifty closed the day at 33,627, up by 492 points or 1.4%.

All sectoral indices except Nifty IT (-0.9%) closed in the green today. Nifty Bank (+1.4%), Nifty Auto (+1.9%), Nfty Media (+2.5%), Nifty Metal (+1.6%) and Nifty PSU Bank (+1.9%) closed with good gains.

Major Asian markets closed in the green today. European markets are all trading 1-2% in the green.

Today’s Moves

Once again Nifty Auto stocks stole the show. M&M(+4.3%), Hero MotoCorp (+3.2%), and Eicher Motors (+2%) featured in the Nifty 50 Top Gainers list.

Hero MotoCorp has increased the prices of its scooters and motorcycles by up to Rs 3,000. 

All the stocks from Nifty Bank and Nifty PSU Bank closed in the green. Bandhan bank (+2.9%), Federal Bank (+2.7%), ICICI Bank (+2%), IDFC First Bank (+4.2%), IndusInd Bank (+2.7%) moved the most from Bank Nifty.

S&P has affirmed a stable outlook for ICICI Bank (+2%). 

Only eight stocks from Nifty 50 closed in the red and five of them are from IT sector. TechM (-1%) and INFY (-0.78%) fell the most.

Mindtree (-2.8%), LTI (-2.4%), Mphasis (-2.1%), LTTS (-2.1%) also moved down. 

Dwarikesh Sugar (+8.9%) shot up after increasing the distillery capacity at Dwarikesh Dham unit.

Nazara Technologies closed above the 600 level after the bonus issue today. The stock was down 70% from its 52-week high before the bonus issue.

Route Mobile (+5.6%) once again moved up after the buyback plan.

Canara Bank (+2.2%) has approved raising up to Rs 9,000 crore via debt instruments in this fiscal year.

Thomas Cook (+8.5%) saw the highest volume in June as the promoter group bought 2.81 crore shares via the open market.

Markets Ahead

15,700-750 region is the next immediate resistance zone for Nifty. As we discussed yesterday, the weekly setup is indicating more upside movement if this zone is broken. On the downside, we can watch 15,630 as immediate support.

Many global IT companies are reporting good quarterly numbers. Will there be a strong pre-result rally in Nifty IT in the coming weeks?

Nifty Auto made the biggest weekly gain of more than 6% since February 2021. It will continue to be under the radar as monthly sales numbers are expected next week.

Nifty Metal ended as the worst performer of the week, down 3%. 

Michael Patra, Deputy Governor of RBI said today that the monetary policy action is in the direction and inflation will fall into limits during next Jan-march period. This gave some confidence to the market.

Global cues are currently supportive. Where do you see the Nifty next week? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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Crazy Expiry Day Ends with Markets in Green! Auto Stocks Move up – Post Market Report

NIFTY opened the day at 15,451 and moved nearly 180 pts up to find resistance at 15,630. At this point all the indices were trading well in the green, indicating an uptrend day. Surprising everyone, the index then fell more than 250 pts from the day’s high. 

NIFTY added more thrill to the expiry by bouncing 200 pts from the day low and closed at 15,556, up by 143 points or 0.93%.

BANK NIFTY started the day at 32,927 and the index was no different compared to Nifty. It fell nearly 800 pts from the day high and then recovered 600+ points from there. Bank Nifty closed the day at 33,135, up by 289 points or 0.86%.

All sectoral indices closed in the green today. Nifty Auto (+4.3%) had an interesting day along with Nifty IT (+1.9%), Nifty Media (+1.5%), Nifty Pharma (+1.5%) and Nifty Realty (+1.6%).

Major Asian markets except Taiwan closed in the green today. European markets are all trading flat to red.

Today’s Moves

Nifty Top Gainers list is ruled today by Nifty Auto stocks. Maruti(+6.2%), Hero MotoCorp (+5.9%), Eicher Motors (+5.8%), M&M (+4.4%), Bajaj Auto (+4.1%), and Tata Motors (+3.5%) found its own place.

UPL (+3.3%) bounced back after hitting a fresh 52-week yesterday.

It wasn’t a good day for energy related stocks. Reliance (-1.6%), GAIL (-1.4%), Torrent Power (-1%), Power Grid (-1%), NTPC (-0.85%) closed in the red.

Asian Paints (+3.4%) gained more investor confidence after Promoter released a pledge of 2.8 lakh shares on June.13

IRB Infrastructure (+7.1%) closed in the green as the company received Rs 308 crore from IRB Pathankot Toll Road out of a total claim of Rs 419 crore.

Spandana Sphoorty (+20%-UC) shot up after the company said that its board and the founder Ms. Padmaja Reddy (Ex-MD) have resolved their issues.

Route Mobile (+8.5%) saw strong buying after the company announced its plan to consider proposal of buyback on June 28.

Markets Ahead

Do you remember those days when we all considered Nifty as less volatile?

Nifty was in an uptrend till 11 am and then it created a downtrend in the next two hours. Interestingly, during all the India VIX was so calm and closed just 1.9% down. As we discussed earlier Nifty is highly unpredictable now and has momentum on both sides. 

Talking about Bank Nifty it looks like the index has strong support in the pre- Covid high near the 32,650 regions. We should be watching for a good weekly green candle from there to get some relief.

Vedanta is trading at the 220 region which has been acting as a major level since 2008. Keep a watch on the stock.

In the daily candle, Nifty is giving some positivity around the 15,350 region and RSI indicator is also supporting this. We may see some greenery in the near term, but don’t forget, ‘sell on rise’ is not yet over.

Today was a trap for both sellers and buyers. How was your day? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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Market Loses Gains from Yesterday. Metals Crash Again – Post Market Report

Markets lose most of yesterday’s gains and move down.

NIFTY opened the day at 15,563 with a gap-down and moved down. After a fall of nearly 140 points, the index tried to bounce back but fell again. By closing time, the index reached the day-low. NIFTY closed the day at 15,413, down by 225 points or 1.44%.

BANK NIFTY started the day with a gap-down at 33,104. After a 350-point fall in the first 20 minutes, the index mostly moved sideways for the day. Ending near the day-low, Bank Nifty closed the day at 32,845, down by 346 points or 1.04%.

All sectoral indices closed in the red today. NIFTY Metal (-4.8%), NIFTY Media (-3.5%) and NIFTY Realty (-2.1%) fell the most today.

Major Asian markets closed in the red today. European markets are all trading in the red.

Today’s Moves.

BPCL (+1.5%) closed in the top-gainers of NIFTY 50 as traders expect the international crude oil price fall to help the company. Hindustan Petro also moved up.

However, oil exploration stocks including ONGC (-3%), Reliance (-3%) and OIL (-2.3%) closed in the red.

Similar to recent days Nifty Metal and Nifty Media stocks were crushed down again. Hindalco (-6.7%), Tata Steel (-5.2%) and JSW Steel (-4.4%) closed in the red from NIFTY 50.

National Aluminum (-6.2%), Jindal Steel (-5.9%), Vedanta (-5.9%), and Hindustan Copper (-7.3%) also fell.

From the Media sector, Dish TV (-7.7%), Network18 (-5%), SUNTV (-8.7%) and ZEEL (-4.6%) fell heavily.

Indigo (+1.1%) moved up after May’s Domestic air passenger traffic increased 11% from April. SpiceJet (-6.8%) however looks weak and hit its lowest since April 2020.

NIFTY 50’s fertiliser stock UPL (-6.2%) fell to hit a 52-week low.

Shares of Matrimony (+6.6%) gained after approving the buyback of shares at a price of Rs 1150/share. The current market price is around Rs 800.

Markets Ahead

International Brent crude has weakened with fear of a fall in demand. The U.K.’s inflation data for May also remain high at 9.1%.

The U.S. Dow Jones had moved up yesterday night but the Futures data today shows weakness.

Tomorrow is the weekly expiry, the second last one for the month of June. We can expect volatility in the market.

Indian Rupee fell to 78.28 per US Dollar to a record low. More and more Foreign Investments are being pulled from the country

Our market is also looking weak but the obvious support at 15,200 may take care of it for tomorrow. On the upper side, yesterday’s high could act as an intraday resistance.

Are you investing in these dips? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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NIFTY Bounces Back from Lows. Titan up 5% – Post Market Report

A strong recovery rally across the market as international stocks move back up.

NIFTY opened the day at 15,460 with a gap-up. After an initial fall, the index started flying up. After breaking the 15,500 resistance, there was no looking back till a day-high was created around 2 PM. NIFTY closed the day at 15,638, up by 288 points or 1.88%.

BANK NIFTY started the day with a gap-up at 32,981. After a small fall, the index of banks bounced back from 32,800 and shot up. A total 800-point rally was seen from the day-low with a fall near closing. Bank Nifty ended the day at 33,191, up by 507 points or 1.55%.

All sectoral indices closed in the green. NIFTY Media (+5.4%), NIFTY PSU Bank (+4%), NIFTY Realty (+3.6%), NIFTY Metal (+3.9%) and NIFTY IT (+3.1%) gained back the most.

Major Asian markets closed in the green today. European markets are all trading in the green.

Today’s Moves.

All stocks from NIFTY 50 closed in the green or flat.

Titan (+5.9%) bounced back up from multi-month lows and closed as the top-gainer in NIFTY 50 after the stock featured in Macquarie’s Asia ‘buy’ list.

Hindalco (+5.5%), JSW Steel (+4.7%) moved up from the metals sector. SAIL (+6%), Hindustan Copper (+7.4%) and Ratnamani (+12%) also jumped back.

Adani Total (+20%) closed at an upper circuit and gained back from the last 2 days’ fall. Sugar stock Eid Parry (+17.6%) and Gujarat State Fertiliser (+17.4%) also moved up sharply.

Goa Carbon (+15.5%) shot up after resuming operations at its Goa plant.

Markets Ahead

The market bounced back today with equal strength from all stocks and NIFTY reclaimed the 15,600 mark.

But if we observe the important levels of NIFTY, the 15,750 zone is a zone it was respecting for many months. Now that the market is below it, the level may act as a resistance while moving back up.

Bank Nifty is also bouncing back from its 52-week low, and if NIFTY reclaims the 15,750 zone we can say that the market has stabilised a bit.

NIFTY Midcap and Smallcap are also trying to recover from a year’s low. 

The major boost was given by U.S. Dow Jones Futures opening the week in the green today. Currently, the index future is up 1.6%. Let us see how their market performs tonight.

Did you catch the rally today? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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Midcap Sell-Off Continues. HDFC Twins Keep NIFTY in Green – Post Market Report

Markets open the week in green with HDFC Twins looking strong.

NIFTY opened the week at 15,334, nearly flat. After opening, the index took support from its 52-week low and continued Friday’s consolidation. NIFTY closed the day at 15,350, up by 56 points or 0.37%.

BANK NIFTY started the day with a slight gap-up at 32,873. Yesterday’s support at 32,480 was taken and the index bounced back twice. Bank Nifty ended the day at 32,684, down by 58 points or 0.18%.

NIFTY FMCG (+1.8%) and NIFTY Finserv (+0.96%) moved up. NIFTY Metal (-3.9%), NIFTY Media (-2.5%) and NIFTY PSU Bank (-2.4%) closed in the red.

Major Asian markets closed mixed in the day. European markets are all trading in the green.

Today’s Moves

The Bombay High Court has restricted Sebamed from comparing to that Hindustan Unilever’s Dove, Pears and Lux. The stock closed as the Nifty 50 top gainer, up 4%. 

Other FMCG stocks – Dabur (+3.3%), GodrejCP (+4.6%), Marico (+2.4%) and Nestle (+1.9%) also moved up.

HDFC Bank (+2.5%), HDFC (+4%) and Infosys (+1.9%) helped Nifty to close in the green, contributing 93 pts to the index. 

But Reliance (-1.8%) fell today. 

ONGC(-5%), BPCL (-1.6%), GAIL (-5.6%), ATGL (-7.4%), Reliance (-1.8%), OIL (-10.8%), MRPL (-18.9%), Chennai Petro (-15.2%) and IOC (-1%) closed in the red, following the weakness in crude oil prices.

Gaining from the crude oil fall, Asian Paints (+3.1%), Berger Paints (+3.2%) and Nerolac (+3%) performed well.

While Nifty went into consolidation, Nifty Metal (-3.9%) was getting hammered in the background. Coal India (-3.1%), Hindalco (-3.6%), Hind Copper (-9.4%), Hind Zinc (-3%), Jindal Steel (-4.8%), NMDC (-3.6%).

National Aluminum (-6.8%), SAIL (-5.1%), Tata Steel (-5%), Vedanta (-12.6%), and Welcorp (-8.6%) took the hit.

Metal stocks have been falling since Govt imposed export duty.

Cement related stocks – UltraTech Cement (+3%), Shree Cements (+2%), Ramco Cements (+2.4%), JK Lakshmi (+3%) and Grasim (+2%) moved up.

Adani Wilmar closed in the 5% lower circuit as the company slashed the prices of its edible oils by Rs 10. 

DGCA has started an investigation on SpiceJet Patna- Delhi flight fire and two other air incidents, involving the IndiGo (-5%) and SpiceJet (-6.6%) flights.

All the PSU Banks closed in the red ahead of Finance Minister’s review meeting with the chiefs. Bank Of Baroda (-4.1%), Canara Bank (-3.4%), IOB (-3.7%), J&K Bank (-4.3%) fell the most. SBIN moved down by 1.4%.

Markets Ahead

Consolidating Nifty and Bank Nifty are the most dangerous ones because they are really close to important support zones. Keeping 15k and 14,750 as Nifty supports in mind, we really need just a quick movement on the downside to reach there. 

Even though Nifty and Bank Nifty were resting, Nifty Midcap100 (-2.2%) and Smallcap100 (-3.2%) continued the fall indicating that the market is still in a mood for a sell-off.

Bank of America said that the US economy has a 40% chance of being in a recession next year as inflation remains high. The U.K is also having a recession fear. 

2 days of confusing green candles in NIFTY. If recovery does occur, the level to look out for would be 15,750 on the upper side.

Do you think the market will reverse from here? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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Markets End the Week in Red. Titan Hits Fresh 52-Week Low – Post Market Report

Markets stay flat as bulls and bears fight after yesterday’s fall.

NIFTY opened with a slight gap-down at 15,306. The index fell to the 15,200 level but managed to bounce back up. Mostly the index moved sideways with huge volatility. NIFTY closed the day at 15,293, down by 67 points or 0.44%.

BANK NIFTY started the day with a gap-down at 32,743 and fell. The index took support near 32,300 and shot back up. The day was filled with such falls and upmoves. Bank Nifty ended the day at 32,743, up by 126 points or 0.39%.

NIFTY Pharma (-2.1%) and NIFTY IT (-1.4%) fell in the day. FMCG (-0.97%) and Auto (-1.1%) stocks also had a tough trading session.

Major Asian markets closed mixed in the day. European markets are all trading in the green currently.

Today’s Moves.

Bajaj Finance (+2.5%) and Bajaj Finserv(+2.4%) closed as the top-gainers after falling sharply yesterday.

Titan (-6%) fell more than 6% in the day, hitting the lowest since last August.

Sun TV (+5.7%) moved up after Kotak Equities upgraded its view on the stock.

Rama Steel Tubes (+4.8%) board has scheduled its meeting on July 05 to consider and approve the

sub-division of equity shares.

Delta Corp (+12.3%) closed very well as its gaming arm filed IPO papers with SEBI.

Rajesh Exports (+6.2%) has confirmed the news saying that the company is setting up an e-display unit in Telangana, an investment of Rs 24,000 crore.

Wipro (-4%) fell sharply today, and is down 45% from its all-time highs.

Markets Ahead

Nifty has formed a red weekly candle again, marking the lowest close since the week ended May 24 of last year. It’s time to add 14,900-15,000 as the next major support zone to the watch list. 

Considering the performance in recent weeks, we must be watching 14k also as a strong support, which is near to the Fibonacci level.

It is not easy to digest that the market has given up one year’s gain. Bank Nifty has fallen nearly 5% this week compared to last week.

But Reliance is trading at a higher level and showing strength. Now that the shock of the interest rate hike is done, Reliance can act as a boost for NIFTY.

The U.S. market futures are trading higher, and might end in green tonight. Along with global market movements, we can watch if NIFTY manages to close above the 15,750 zone in the coming week.

U.S markets will closed on Monday, enter your trades keeping this in mind.

How did this week go for you? Let us know in the comments section of the marketfeed app!

ee you at The Stock Market Show at 7 PM!

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Daily Market Feed Post Market Analysis

NIFTY Falls to 52-Week Low on Interest Rate Hikes. Metals Crash Most – Post Market Report

Market hits a new 52-week low and reaches the oversold zone after the Federal Reserve’s interest rate hike.

NIFTY opened with a gap-up of 140 points at 15,832. But from here, there was a constant selling pressure which saw the index breaking multiple supports. A total 500 points fall was seen from the day-high and NIFTY closed the day at 15,360, down by 331 points or 2.11%.

BANK NIFTY started the day with a gap-up at 33,676. Just like NIFTY, the index first took support at yesterday’s low. A further fall was seen and the index touched the 32,500 zone. Bank Nifty ended the day at 32,617, down by 722 points or 2.17%.

All sectoral indices closed in the red. NIFTY Metal(-5.24%), Nifty Media (-3.2%) and NIFTY Realty(-2.8%) fell the most.

Major Asian markets closed mixed in the day. European markets are all trading in the red currently.

Today’s Moves.

A big fall after the U.S. Federal Reserve announced a 75 basis points interest rate hike.

Only three Nifty 50 stocks closed in the green, all from the FMCG sector – Nestle (+0.43%), Britannia (+0.15), and HUL (+0.01%).

Metal stocks are always vulnerable to market falls. Tata Steel (-6%), Hindalco (-6%), and Coal India (-5.3%) featured as Nifty 50 Top Losers. 

Adani Ent (-4.6%), HindCopper (-5.3%), JSW Steel (-3%), Jindal Steel (-6.2%), NMDC (-5.3%), SAIL (-4.9%), and VEDL (-8.2%) also moved down.

RBL Bank (-7.7%) continued finding fresh 52-week lows. It is looking like the next Yes Bank for long-term investors.

Tata Motors (-5.1%) said in its annual report that the recent lockdown in China is adversely affecting its operations. Also added that they will be temporarily closing some dealerships and plants.

Spicejet (-6.7%) saw a sharp fall after jet fuel hit an all-time high. Indigo also fell 5%.

Markets Ahead

What looked like it was going to be a bullish day quickly proved otherwise. The U.S. markets had closed with more than 1% gains after the Fed announcement.

Even the last Fed interest rate hike saw the U.S. markets closing in the green, and a deep red on the day after that. Similarly, the Dow Jones Futures are more than 1.9% in the red now. So just like last time, their markets will fall tonight after the green closing on the day of the rate hike.

Our markets predicted this fall and fell today itself. Tightening policies and interest rate hikes will put pressure on global capital markets.

Being the weekly expiry, bears would have made a lot of money in the market. How did your day go? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

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Daily Market Feed Post Market Analysis

NIFTY Consolidates Ahead of Fed Decision. Bajaj Twins Bounce – Post Market Report

Markets continue the volatile consolidation ahead of Fed announcement.

NIFTY opened with a gap-down at 15,749 and was volatile. Overall the index could not break yesterday’s high or low. It traded in a 100-point zone for the whole day but closed near the day-low. NIFTY closed the day at 15,692, down by 39 points or 0.25%.

BANK NIFTY started the day at 33,358 and traded with volatility. It tried to move up and even broke the 33,500 zone afternoon. But after 2 PM, the index fell back by breaking the trendline. Bank Nifty ended the day at 33,339, up by 27 points or 0.08%.

All sectoral indices closed with consolidation. NIFTY Auto(+0.92%) moved the most in the day.

Major Asian markets closed in the red today. European markets are all trading in the green currently.

Today’s Moves.

Bajaj Finserv(+4.17%) and Bajaj Finance(+2.03%) closed among the top-gainers in NIFTY 50. The stocks are bouncing back after Monday’s fall.

Tata Motors(+2.21%) showed strength along with Hero MotoCorp from the auto sector.

Tata Steel(-3.67%) closed as the top-loser in NIFTY 50 after accounting for a Rs 51 dividend.

ONGC(-2.92%), NTPC(-2.15%) and Reliance(-1.21%) fell back in the volatile market.

AU Bank(+4.08%) moved up from the Bank Nifty group of stocks. IGL(+4.01%), PEL(+3.95%) and Polycab(+3.12%) were among other F&O stocks which moved up in the day.

Markets Ahead

Markets are awaiting the U.S. Federal Reserve’s interest rate hike decision tonight. 

Many expect different outcomes from this decision, and this can become a huge factor in tomorrow’s market volatility. Some market participants expect a 50 basis point increase in interest rate, while some fear a higher hike of nearly 75 basis points.

If a higher rate hike is announced, the market might move negatively tomorrow. Again, instead of predicting our situation from the rate hike news, we can look at how the global markets react tonight.

The sharp increase in option premiums and our volatility index towards the market closing indicate high speculation for tomorrow. Also being the weekly expiry, you can expect big moves to either side. Trade with caution or keep away depending on your skill and risk tolerance!

What do you think will happen overnight? Will markets open with a huge gap-up or gap-down? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!