Tag: markets today

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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!

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Daily Market Feed Pre Market Report

Results Season Craziness! Can Reliance Save NIFTY? – Pre Market Analysis

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

Stocks

Infosys reported a profit of Rs 5,945 crore for the quarter, down 3 percent QoQ and cut revenue expectations for the whole financial year. Infy ADR dropped -8.41% in the U.S.

Hindustan Unilever registered an 8% YoY increase in profit at Rs 2,472 crore for the quarter ended June FY24, with growth in all key segments.

Larsen & Toubro said the board of directors will meet on July 25 to consider the buyback of shares

Jio Financial Services(JFL), a subsidiary of Reliance Industries, has been valued at Rs 1.66 lakh crore following an hour-long special trading session at ₹261.85/share. The combined price of is higher than expected.

Major results today: Reliance Industries, HDFC Life, Dodla, DLF, JSW Steel, Ultratech Cement.

What to Expect Today?

NIFTY opened with flat at 19,831 and initially moved down. Being the weekly expiry, index saw volatility but bounced back strongly from 19,760. After this, an intense 230 point rally took NIFTY up to the close at 19,979, up by 146 points or 0.74%. 

BANK NIFTY opened with a small gap-up at 45,725 and looked much more strong. It slowly moved up in the afternoon, but gave a breakout above the all-time high. The index closed at 46,186, up by 517 points or 1.13%.

The general US markets closed mixed, as tech stocks pushed NASDAQ down 2%. The European markets closed higher.

The Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading down at 19,866, after Infy’s fall.

All the factors combined indicate a gap-down opening.

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

BANK NIFTY has supports at 46,000, 45,900 and 45,800. Resistances are at 46,253, 46,300, and 46,500.

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 in the money 46,000. The highest put OI build-up is also at 46,000.

Foreign Institutional Investors net-bought shares worth Rs 3,370 crores. Domestic Institutional Investors net-sold shares worth Rs 193 crores.

INDIA VIX is at 11.78.

Bank Nifty showed consistent strength throughout the day, and once it broke the all-time high gave multiple bursts of strength. Both indices closed at fresh all-time highs. Reliance saw a net positive move after the demerger.

The best moves are the ones without any news or reason. And the time for the looks to have temporarily ended in NIFTY with the starting of results season.

Expect a gap-down opening in NIFTY with Infosys volatility. And expect intraday volatility from Reliance results. If both stocks start moving down, NIFTY would see strong good pull-back towards 19,750 zones.

Bank Nifty option chain remains interesting. With a huge straddle buildup at 46,000, OI indicates that further rally is not optimal. But a breakout, and short-covering can only be expected if another round of fireworks push it above 46,700, which is quite far away.

ICICI Bank, Kotak Mahindra Bank and Yes Bank will be in focus ahead of their results tomorrow.

With it being the monthly expiry series, we can expect some calm before the storm next Thursday. The fresh all-time high made yesterday near 20,000 might be defended till then.

I will watch 19,845 on the downside in NIFTY. 19,920 can be watched on the upside.

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

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Daily Market Feed Pre Market Report

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!

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Daily Market Feed Post Market Analysis

Will Nifty Hit 20,000 Soon?- Post-Market Analysis

NIFTY started the day at 19,802 with a gap-up of 53 points. Initially, the index started moving higher to 19,840 levels (which was a pivot level resistance). Then, profit booking kicked in, and Nifty fell till the support zones of 19,730 levels. Then, it gave a huge recovery to hit a fresh all-time at 19,851. Nifty closed at 19,833, up by 83 points or 0.42%.

Nifty chart July 19

BANK NIFTY (BNF) started the day at 45,622 with a gap-up of 211 points. Unlike Nifty, Bank Nifty consolidated today within a 200 point-range between 45,700 and 45,500. BNF closed at 45,669, up by 258 points or 0.57%.

Bank Nifty chart July 19

All indices closed flat-to-green today. Nifty PSU Bank (+1.95%) and Nifty Media (+1.1%) moved up the most.

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

Today’s Moves

NTPC (+2.7%) was NIFTY50’s top gainer. Goldman Sachs has initiated coverage on the stock with a ‘Buy’ rating.

Tata Teleservices (+10.4%) surged on the back of strong volumes.

TV18 Broadcast (+9.16%) jumped after the company reported a 52% YoY increase in its consolidated net profit at Rs 91.20 crore for Q1.

Hindalco (-1.19%) was NIFTY50’s top loser. 

Network18 (-7.54%) fell after the company said its net loss widened to ₹38.73 crore in Q1 FY24.

Markets Ahead

Nifty is looking more bullish when compared to Bank Nifty. A lot of positive Q1 results have been boosting the index.

Nifty: Now, the important support level for Nifty will be 19,730, and the major resistance will be 19,880 (which is a pivot point resistance). If there’s a flat opening and Nifty moves higher, the index can move higher till the resistance zone. If the index falls below 19,830 levels, it can come down to the support levels mentioned above.

Bank Nifty: The index has moved in a range. So if there is a range breakout or breakdown from 45,700 levels and 45,500 levels, respectively, BNF can fall to 45,335 levels. On the upside, it could move to 45,890 levels.

Being weekly expiry tomorrow, both indices can be volatile. So watch out for all important levels and plan your trades accordingly.

In other news, UK’s inflation stood at 7.9% for June 2023, below the 8.2% that economists predicted. Euro Area’s June consumer prices rose 5.5% YoY in June vs an estimate of 5.5% growth.

FIIs have net bought for ₹1,165.47 crore today, while DIIs have net sold for ₹2,134.54 crore.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

What levels are you watching out for expiry tomorrow? Let us know in the comment section of the marketfeed app.

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Daily Market Feed Pre Market Report

Profit Booking! More Up-move Loading? Pre Market Analysis

Up light arrows and speed lines on dark blue background, copy space composition, growth competition technology concept.

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

Stocks

ICICI Lombard‘s net profit increased 12% year-on-year to Rs 390 crore for the first quarter ended June.

Himadri Speciality has reported net profit of Rs 86 crore in the first quarter. Revenue from operations, meanwhile, came in at Rs 951 crore.

Shares of Tata Communications, L&T Finance, and Bank of Maharashtra will be in focus as the companies will announce their first quarter results.

What to Expect Today?

NIFTY opened with a gap-up at 19,798 and had a volatile day. The index moved in a range of 200 points and closed at 19,749, up by 38 points or 0.19%. It was long unwinding we saw in Nifty as profit booking kicked in.

BANK NIFTY opened with a gap-up at 45,794 and formed a double top. There was a huge down-move to 45,370 and a bounce that got sold off quickly. BN closed at 45,410, down by 38 points or 0.09%.

IT moved up by 1.06%. 

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

The Asian markets are trading mixed.

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

GIFT NIFTY is trading flat at 19,800.

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

NIFTY has supports at 19,690, 19,600, 19,500 and 19,450. We can expect resistances at 19,820, 19,850 and 19,800.

BANK NIFTY has supports at 45,370, 45,230 and 45,000. Resistances are at 45,650, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,600. 

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

Foreign Institutional Investors net-bought shares worth Rs 2,100 crores. Domestic Institutional Investors also net-bought shares worth 1,300 crores.

INDIA VIX moved up by 4% to 11.7.

That intraday red candle would have been a surprise to the bullish players. The indices moved down all of a sudden. Though there was a recovery move, it was quickly sold off. 

It was a volatile day. However, option buyers who could execute the entries and exits well would have been able to land in profits. Option sellers who could not cut losses quickly would have found it hard to adjust the strikes and end in green.

US Retail sales came out less strong than expected.

It could be a buy-on-dip day as some profits booking has already happened. The candle on Monday was so big that the bulls would protect their positions vigorously.

There are strong support zones in BN and there could be a down-move followed by a recovery trapping the bears.

I will watch 19,650 on the downside in NIFTY. 19,820 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!

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Daily Market Feed Post Market Analysis

Nifty and Bank Nifty Hits Fresh Highs! – Post-Market Analysis

NIFTY started the day at 19,787 with a gap-up of 76 points— hitting a record all-time high again! Initially, a small profit booking was seen till 19,750 zones. From there, Nifty continued the rally to 19,820 levels and then saw a sharp fall to 19,700 round levels. The index consolidated with a positive bias for the rest of the day. Nifty closed at 19,749, up by 37 points or 0.19%.

BANK NIFTY (BNF) started the day at 45,754 with a gap-up of 305 points— hitting an all-time high. The index initially moved up to 45,900 levels and a small profit booking kicked in till 45,650 levels. Then, it moved back to the day’s high, made a double-top pattern, and came under selling pressure to 45,300 levels (which was also a previous resistance zone that now acted as support). The index immediately rebounded 300 points and another round of sell-off happened till the day’s low again. BNF closed at 45,410, down by 38 points or 0.09%.

All indices except Nifty IT (-1.06%) closed flat-to-red today. Nifty Media (-1.84%) and Nifty PSU Bank (-1.23%) fell the most. 

Major Asian markets closed mixed. European markets are currently trading flat.

Today’s Moves

Infosys (+3.67%) was NIFTY50’s top gainer. The IT major secured a five-year deal worth $2 billion from an existing client. The company will post its Q1 results today.

Godrej Agrovet (+5.6%) after the Telangana govt allotted 47,000 acres for its oil palm business.

Polycab India (+5.4%) after net profit in Q1 FY24 beat analysts’ estimates.

HDFC Life (-1.59%) was NIFTY50’s top loser.

CCL Products (-8.6%) crashed after the company’s operating margins for Q1 fell by 115 basis points to 16.23%.

Markets Ahead

Nifty and Bank Nifty are clearly bullish as we’ve been mentioning in the previous post-market reports. The targets of 19,800 in Nifty and the ATH of Bank Nifty were hit today and the indices moved according to our analysis.

Both indices have rallied without giving much of a retracement, and every dip is getting bought. But looking at the fall from their respective all-time highs, Nifty and Bank Nifty might come under some selling pressure if there’s a follow-up tomorrow.

Nifty: The major support for Nifty will now be 19,700 zones (which was today’s low) and the major resistance will be the 19,750-780 zones, where the index faced multiple rejections. The next major resistance will be the 19,820 zone. So a breakout from 19,750-780 with a re-test may give a first target of 19,820 and then 19,840 eventually (which is also a pivot level).

Bank Nifty: The index is now at a support zone near 45,300-350. If support is being taken from here, we can expect Bank Nifty to move up to 45,560 zones and then eventually to 45,850 zones (which is near an all-time high and that can act as a major resistance).

Fin Nifty was as volatile as Bank Nifty today! Every 5min candle movement was huge— causing trouble to both option buyers and option sellers. In this kind of choppy expiries, money management and following proper rules will be the biggest weapon for traders.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

How did FIN NIFTY expiry go? Let us know in the comments section of the marketfeed app.

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Daily Market Feed Pre Market Report

Can We Get a Follow-up? – Pre Market Analysis

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

Stocks

LTIMindtree has reported consolidated net profit of Rs 1,151 crore for the quarter ended June, which is higher by 4% year-on-year.

Tata Elxsi has posted a meagre 2% rise in net profit at Rs 189 crore for the first quarter ended June. Revenue from operations during the quarter, however, rose 17%.

HPCL said India’s gasoline demand will likely recover from late August, while diesel consumption is expected to stay weak.

What to Expect Today?

NIFTY opened flat at 19,590 and rallied. There was a huge up-move once BN joined and short covering took Nifty to another all-time high. The index closed at 19,711, up by 147 points or 0.75%.

BANK NIFTY opened with a small gap-up at 44,965 and moved down. The index consolidated in a range for a long time and then gave a quick rally. BN closed at 45,450, up by 630 points or 1.41%.

IT moved up by 0.31%.

The US markets closed higher and the European markets closed in the red.

The Asian markets are trading mixed.

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

GIFT NIFTY is trading higher at 19,773.

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

NIFTY has supports at 19,600, 19,500 and 19,450. We can expect resistances at 19,750 and 19,800.

BANK NIFTY has supports at 45,370, 45,230 and 45,000. Resistances are at 45,650, 45,800 and 46,000.

NIFTY has the highest call OI build-up at 20,000. The highest put OI build-up is at 19,600. 

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

Foreign Institutional Investors net-bought shares worth Rs 70 crores. Domestic Institutional Investors also net-bought shares worth 60 crores.

INDIA VIX spiked by 6% to 11.3.

It was a huge rally that happened yesterday and Bank Nifty has covered the entire range of red candles with a single green candle. One day is all it took to kill the bears. Let us see if there is a follow-up.

NF is approaching 20K. As you know, it took a long period for NF to reach 19K from 18K and it seems like NF is compensating for the same.

HDFC has fired up after the results came out better than expected despite a rise in NPA.

Since it is an unexplored terrain, we do not know where resistances in Nifty are. Let us closely watch the resistances in Bank Nifty. 

Looking at the structure, it could be a buy-on-dip day as it is huge buying that is happening.

Traders with bearish view will have to stick to their small SL plan today to avoid extending their losses.

I will watch 19,600 on the downside in NIFTY. 19,800 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!

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Daily Market Feed Post Market Analysis

Market Falls Into Uncertainty. Waiting for Inflation Data – Post-Market Analysis

NIFTY opened the day at 17,859 with a slight gap-up of 2 points. The index fell 150+ pts from the opening high and took support from the 17,720 level. Nifty closed the day at 17,770, down 85 points or 0.4%.

BANK NIFTY started the day at 41,563 with a slight gap-up of 4 pts. The fall in the index had more momentum and every recovery was easily sold-off. It’s a good relief that it was able to trade above 41k support. Bank Nifty closed the day at 41,282, down by 277 pts or 0.6%.

Nifty Media (-2.4%), Nifty PSU Bank (-2.5%), Nifty IT (-1.8%), & Nifty Realty (-1.6%) fell the most today. Only Nifty FMCG (+0.04%) closed in green today.

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

Today’s Moves

Titan (+2%) moved up after it announced a 1:1 bonus share issue on Saturday.

Oil India (+7.8%) rallied today after it reported a record profit in the Oct-Dec quarter (Q3) on better pricing and higher production.

State-owned NTPC (+1.7%) said it will start generating 2,000 megawatts (MW) of nuclear energy by 2032, 4,200 MW by 2035, and eventually scale up to 20,000 MW by 2050.

SBI (-2.8%) fell after exchange filings revealed that three Adani Group companies pledged additional shares to SBICAP Trustee Company (a subsidiary of the bank).

Adani shares declined as the group cut its revenue growth target by 50%. Adani Enterprises (-7%), Adani Ports (-5.4%), Adani Green (-5%), and Adani Trans (-5%) fell heavily today.

Markets Ahead

Just after the opening, Nifty fell heavily for one hour, and it was a pretty scary movement. This is because the index easily broke the 17,780-800 support zone. Please remember it has been showing weakness for the last many days, and NIFTY falling below 17,780 again is not a good sign. Though it took support from 17,700, today’s candles might bring uncertainty into the market. 

In Bank Nifty, I will be watching 41,000 as the major support.

We have Fin Nifty expiry tomorrow. Mark 18,450, 18,400, 18,560, and 18620 as major levels for tomorrow.

India’s CPI data will be out today at 5:30 PM.

Do you expect the inflation rate to fall below estimates, considering the fall in crude oil prices and rate hikes? Let us know in the comments section of the marketfeed app!