Tag: nifty Bees strategy

Today’s Market Summarised

NSE systems crashed in the day with no trades being executed in the exchange after 11:40 am. With negligible volumes in BSE stocks compared to their NSE counterparts, many traders would surely have suffered. Many orders were also squared off on BSE by brokers to prevent huge losses but only ended up increasing confusion. It is still why or how this happened.

Nifty opened with a gap-up and went up before getting stuck around 10:20 am. But still, only the indices tickers were stuck and stock prices including Nifty Futures prices were moving. At around 11:40 am, trading was halted on the NSE. After many hours of confusion, it resumed at 3:45 pm with Nifty flying back up to 15,000. Nifty closed the day 14,982, up 274 points or 1.86% up. Definitely a freak show in the market today.

Bank Nifty opened the day and went flying up in the first hour of trading. While NSE crashed, shares of private banks were doing exceptionally well on BSE. And just continuing that, Bank Nifty was highly highly bullish. It went up more than 1300 points from the day’s low and closed at 36,452, up 1335 points or 3.8% for the day.

Banks were the most bullish today, along with the Fin Nifty index(up 3.4%). Media closed 1.5% up. No other sector closed above 1%. 

Global markets are mixed, both Asian and European.

News Picks

Shares of Coal India closed 5.48% up in the day as the PSU said it would consider a second interim dividend for this financial year in its meeting of the board of directors scheduled on March 5.

Private banks flew up in the day, with the government lifting embargo on Govt business to private banks. With this, private sector banks can now carry out government-related banking transactions such as taxes and other revenue payment facilities, the Department of Financial Services stated in a press release today. Shares of HDFC Bank went up to close 5% up, Axis Bank and ICICI Bank jumped as well. Industry leaders welcomed this move. Finance Minister tweet included “Private banks can now be equal partners in development of the Indian economy”.

UPL shares closed 2% down after yesterday’s sharp rally.

Cabinet has approved a PLI scheme of Rs 15,000 crore for pharma sector. Patented drugs, anti-diabetes drugs and auto-immune drugs will be promoted to “make India Aatmnirbhar in manufacturing of high-quality drugs”.

The Union Cabinet is set to approve a PLI scheme for electronics, medical devices. Sources say that the PLI scheme could have an investment of over Rs 7,000 crore.

Cabinet has cleared PLI to boost manufacturing of laptops, tablets, PCs and servers.

Shares of Airtel jumped up with the launch of companies new advertising business, Airtel Ads.

Markets Ahead

Such a crazy day in the market. NSE shutting down, and markets remaining open till 5 pm in a day! A lot of traders would have lost money even if it was not their fault today, myself included. But such is the nature of events that unfurled today.

With the government’s new announcement allowing private banks to carry out govt-related transactions, the index got a huge boost. In fact this is the reason why Bank Nifty went up to touch 36,000 and even 36,500 today. The index has closed highly bullish and might continue its rally tomorrow.

Nifty has touched 15,000 with relative ease today. We can see the index going up and retaining bullishness if banks support it.

Also bullish on the all-out announcements of Production Linked Incentive schemes by the government. This will help us grow our economy and along with it our markets in the long term.

Still a crazy crazy day in the market, definitely one that I will never forget! Rumours of cyber attack is floating around, but my question is who would be responsible for the losses incurred by retailers today?

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-up at 14,782 and tried to move down. Support was taken at 14,650, and the index could not even reach yesterday’s lows. With a lot of confidence, Nifty moved up 200 points in one hour but fell soon and consolidated. Nifty closed the day at 14,707, up 32 points or 0.22%. 

Bank Nifty closed in the red today unlike Nifty. After opening with a gap-up at 35,554, the index moved down pulling Nifty as well. It went back up breaking the opening range but could not sustain. Over the day it slowly came down and even broke yesterday’s low. Support was taken at 35,000. But mainly the index consolidated. Bank Nifty closed the day at 35,116, down 140 points or 0.40%. Expecting HDFC Bank and Kotak Bank to support the index tomorrow.

Metals again shot up, with a gain of 3.89% in the Nifty Metal Index. Nifty Realty gained 2.7% after falling yesterday. No other sectoral index gained/lost more than 1% today.

European markets are all currently trading in the red. Asian markets have mostly closed in the green.

News Picks

Shares of UPL opened with a gap-down after news of a fire at the company’s Gujarat plant. But share prices showed no negative reaction, closing nearly 5% up in the day.

Metal stocks jumped up sharply in the day. First hoping everyone caught today’s rally in metal stocks. Iron-ore prices have reached a nearly 10-year high on the global markets. Tata Steel closed as the top gainer in Nifty 50 today gaining more than 6.5%. SAIL(up 6.54%), Hindalco(up 5.36%) and Jindal Steel(up 4.74%) are other notable movements.

In fact, commodity prices all over the world have been hitting multi-year highs. Hindustan Copper from yesterday has again closed 18% up today.

Shares of Cochin Shipyard jumped nearly 8% in the day after receiving a Rs 10,000 crore order from the Indian Navy. Just a reminder that the market capitalization of the company is not even half the size of this order, at Rs 4,600 crore.

Shares of Page Industries, maker of Jockey, went up more than 5% after appointing V S Ganesh as CEO.

Tata Motors jumped 6.4% up with 300 being strong support for the stock, and the company expecting to grab 10% market share in India soon. Micro-SUV codenamed Hornbill is expected to push up the company’s sales by the end of next financial year. Shares of Maruti fell 1.64%.

Petrol pricing has gone up again, and Union Petroleum Minister has pointed out international price variations as the reason. Shares of oil and gas companies went up in the day, including that of manufacturers, refiners and sellers. Reliance shares closed nearly 1% up. ONGC, BPCL, HPCL, IOC shares gained.

Yesterday’s gainers Kotak Bank, HDFC Bank and Adani Ports corrected today and featured in Nifty 50’s top losers.

Bharti Airtel has tied up with global chipmaker Qualcomm for rollout of its 5G network in India. Interestingly, Reliance Industries had last year raised about $97 million(nearly Rs 700 crore) from Qualcomm’s investment arm for Jio.

With the rupee strengthening more against the dollar, IT and Pharma stocks remained weak in the day. IT had contributed to Nifty’s quick rally till 14,850 today but cooled down over the day.

With Nifty consolidating, the Nifty Midcap 50 index gained 1.46% led by Apollo Hospitals and Page Industries. Nifty Smallcap 100 also gained nearly 1%.

Markets Ahead

Markets have consolidated today, with Nifty comfortably trading between yesterday’s large ranges. To be honest, when markets closed yesterday, I was expecting another bloodbath today before reversing on Thursday. But when Dow Jones hit its all-time highs after midnight, I had some hope that today might not be as bad as yesterday.

But again I see this as a pullback and will be watching out for today’s high in the coming trading sessions as resistance. Bullish position only when Nifty closes above 15,100.

Interestingly European markets are all in the red. Let’s keep an eye out for how the US Markets close tonight.

Yesterday’s low continues to be the support, and if broken may see Nifty touching 14,500 as we discussed yesterday.

US Stimulus will get passed by the House this week, a point which we discussed could trigger a rally in global markets. It is expected to come into effect within 3 weeks. The global rally in commodities is also taking the shine off of equity markets, but again this is just a short term phenomenon until institutions reshuffle portfolios.

Looking forward to good trading opportunities in the upcoming sessions. Also do note that day after tomorrow is the weekly and monthly expiry for stock and index options. Expecting violent consolidation.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-down and what a day it was after this. 15,000 being a crucial zone saw rejection from buyers. And the index started falling. 14,900, 14,800 and 14,750 acted as temporary supports for the index. But this turned out to be not enough. Nifty went on to touch a day low of 14,631 in the day. That is a movement of nearly 400 points from high to low for the index. Nifty closed the day at 14,675, down at 306 points or 2.04%, quite near to its day low.

Bank Nifty opened the day at 35,842 and tried to go up with the power of some private banks. From day high to the low, Bank Nifty fell nearly 1,000 points. Only HDFC Bank and Kotak Bank(which were top-losers for many days) closed in the green in Bank Nifty. Bank Nifty closed the day at 35,257, down 584 points or 1.63%. It was definitely not as bearish as Nifty today.

Metals were the sector that performed okay for the day, in fact, it was the only sector to close in green. Media, IT and Realty indices in NSE fell the most with a nearly 3% fall each.

European markets are trading in the red and falling further. Asian markets have closed mixed for the day.

News Picks

Shares of Adani Ports remained strong through the day. The company had last day formed a subsidiary to carry out the business of dredging and sale material. It closed as Nifty’s top gainer for the day. It is now the 27th largest company in our country.

Metal stocks shined in the day as Chinese industries started opening up after the Chinese New Year. Hindalco, JSWSteel and Tata Steel led the rally in Nifty 50.

With copper prices going up in the global markets, Hindustan Copper shares jumped nearly 15% in the day. Hindalco also jumped, being a producer of copper.

Shares of Torrent Power hit a fresh 52-week high after the company emerged as the highest bidder for the crucial Dadar & Nagar Haveli and Daman & Diu discoms.

With new restrictions in Mumbai coming up on theatres, shares of PVR and Inox fell nearly 6% each.

With the Rupee reaching an 11-month high against the dollar, export-based stocks including IT and Pharma stocks fell sharply over the day. Only 1 stock from the IT closed in the green. No share from pharma closed in the green.

Shares of Amara Raja Batteries gained nearly 3% as the company said it has opened the country’s first technology hub to develop lithium-ion cells, at its Andhra Pradesh facility.

Shares of Jubilant FoodWorks gained over 5.5% after acquiring Fides Food Systems from the Netherlands. The company had also announced its expansion to many countries last Friday.

With Ford putting all talks with M&M on hold, shares of the Indian automaker fell nearly 5% for the day to be Nifty’s top-loser.

Markets Ahead

Nifty has broken key supports and fallen sharply. We had discussed 2 weeks ago how the index may fall to 14,700 ranges if it closes below 15,000. And I was expecting a fall today as well. But definitely not by this magnitude. 

14,800 and 14,750 were broken easily and this is when we see the effect of gravity. The index finds it easier to move down than to go up. And while falling down there need only be just such technical reasons. Like, imagine if you are falling from a hill, you will only keep falling harder as the fall continues. Even if you do stop and get up, the journey back up will be a bit hard.

If US markets are also going in the red tonight, I see further correction in the market. Nifty may even go to 14,500 soon. So what is the learning you can get from the market? Supports and resistances are meant to be broken. And when they are broken, you can expect a good movement.

India VIX was very high in the fall today, indicating that this is a proper fall. In fact, it has closed at the highest level in the last 6 months.

There are no cues for the economy this time like we had the Union Budget in the last fall. The only possible cue this time is maybe the US stimulus. Otherwise, after the fall is done, we may see just a small pullback and consolidation in the index.

Stock specific moves will continue, and trading opportunities will always exist in the market. Just have to move along with the trend.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened with a gap-down at 15,081 and was volatile through the first many hours of the day. Between 11:30 am and 1:30 pm, Nifty traded in a 60-point range around yesterday’s low as an indication of a big movement. Just after 2 pm, the index broke its opening range and fell sharply with almost every index falling in this time. A day low was created near 14,900 and the index quickly rebounded back up nearly 100 points to 15,000 levels. Nifty closed just below 15k at 14,981.75, down 137.20 points (0.91%).

Bank Nifty opened the day with a gap-down at 36,395 and was volatile just like Nifty. It consolidated around yesterday’s low for more than an hour and fell sharply as profit booking continued. The index tried to move back up but 36,000 acted as a resistance. Bank Nifty closed at 35,841, down 745 points or 2.04%.

Every sectoral index closed in the red today with Nifty PSU Bank falling nearly 5%. Auto and finance stocks fell sharply. IT and FMCG stocks fell the least.

European markets are trading mixed at the time of our markets close. Asian markets are also trading mixed for the day.

News Picks

Shares of IndusInd Bank stayed strong even as Bank Nifty fell over the day. This happened as the bank confirmed yesterday that promoters had completed over Rs 2,000 crores capital injection to the bank via conversion of warrants.

Shares of GAIL went up to close at Rs 145 as buyback was confirmed opening next Wednesday. Buyback is for 6.97 crore shares at a rate of Rs 150/share.

Shares of IDFC First Bank closed 7.4% up in the day as the bank approved raising Rs 3,000 crore through the equity route. The management also said that the fund will be used for the future growth of the bank, as they see great potential. It had gone up nearly 12% intraday.

Shares of Dr Reddy’s jumped in the day as the company announced they had initiated the process for receiving emergency approval for their Covid vaccine, Sputnik-V.

Shares of DLF moved as Swedish retail giant Ikea signed a deal with the company for a 48,000 sq. feet project in Noida. Also at a good level of Rs 300 and can be watched if it takes support on Monday.

Reliance tried to sustain above the 2,100 range but failed yet again. Even with just a 0.5% gain, it was Nifty’s biggest contributor giving 9 points to the index.

Many outperforming shares from last week fell sharply in the day. Adani Enterprises fell nearly 10% intraday between 1 and 2 pm. SBI fell, Tata Motors fell again and many many more. Is this a sign of caution, that profits are being booked now that markets have peaked?

Shares of General Insurance Corporation of India closed 20% up just like yesterday. New India Assurance Company closed nearly 13% up. Yesterday there were rumours of privatisation of the two government-owned companies.

Shares of Marico jumped nearly 2% as the company launched instant noodles under ‘Saffola Oodles’ brand to compete with Nestle’s Maggi and ITC’s Yippee. Not a fan of the name.

Markets Ahead

Nifty closed the week with losses after touching fresh all-time highs. This reminds me of 2 weeks ago when the same happened. A sharp correction, even sharper than today, was seen after Nifty hit a high then. We all know how fast the bounce-back was.

Nifty closing below 15,000 and Bank Nifty closing below 36,000 is significant. Nifty has not closed below 15,000 even once after it jumped over the level on Feb 8th. But Bank Nifty is just at last weeks levels.

Money flowing into IT stocks may continue over the next day, as overperforming sectors face correction. 

Midcaps and smallcaps indices fell as well indicating that the fall is not part of any consolidation. 

Global markets continuing to be in green means that there is still hope that it is not a big fall. Also, Bitcoin has jumped and nearly touched $1 Trillion in market cap beating gains of all listed securities around the world.

Nifty would have to close above 15,100 and Bank Nifty above 36,300 to say that the indices have not become bearish.

Only Nifty Metal and Nifty PSU Bank closed with gains for the week. Also, Smallcaps and Midcaps indices were net positive this week!

Was joking to my friends about how I would give Nifty a salute if it closes above 15k. The ‘official’ or weighted average close is below 15,000, but the last traded price of the index is above it!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-up at 15,242 and struggled to sustain it. The index consolidated around the 15,240 line we had drawn yesterday with IT stocks going up and private banks moving down. Just after 11 am, even IT stocks came under selling pressure and Nifty was dragged down. The index broke yesterday’s low with ease and took support at last Friday’s low near 15,080. Nifty then consolidated to close at 15,118, down 89 points or 0.59% for the day.

Bank Nifty opened with a gap-up boosted by SBI and HDFC Bank opening with gaps. A clear trend was seen in the index with respect being given to yesterday’s low of 35,760. Once this line was broken strongly, almost every bank in the index fell and took Bank Nifty nearly 750 points down from day-high. Bank Nifty closed the day at 36,587, down 323 points or 0.88%.

Nifty PSU Banks has closed as the top gainer, now for the third day in a row, gaining 5.6% today. Nifty IT and Nifty Metal closed over 1% in the green, while Nifty Auto and Fin Nifty closed more than 1% in the red.

European markets are all trading mixed, just like other Asian markets. A negative bias is seen all around.

News Picks

Public Sector Companies were generally the outperformers of the day. Even if you look at Nifty, 7 out of top 10 gainers were PSUs. Read on for possible reason why.

Public sector banks continued their rally in hopes of privatisation. No stock in the Nifty PSU Bank index closed in the red today with multiple small bank stocks even hitting upper circuits. Bank of Baroda jumped 13.6% up. SBI opened with a huge gap-up as Morgan Stanley set a target of Rs 600 for the stock.

PM Narendra Modi had announced in a speech yesterday that investments in the gas sector to promote ‘One Nation One Gas Grid’ project. He had also mentioned natural gas will be brought under the GST Regime, thereby even reducing prices. Stocks related to gas flew, including ONGC(up 8.26%) who closed as Nifty’s top gainer.

Shares of GAIL jumped 6.5%, with Indraprastha Gas, Mahanagar Gas, Indraprastha Gas and even Petronet LNG shares jumped up.

PowerGrid continued its dream rally after the budget, again breaking many technical levels. NTPC shares gained 4% but took resistance at a good zone and 104-108 can be watched in the coming days.

Shares of petroleum retailers shares jumped up in the day, as PM Modi tried to defend the high prices of petroleum by blaming previous governments for not cutting import dependency. Petrol prices had also increased across the country. IOC, HindPetrol and BPCL gained 4-5% in the day.

Even as markets fell, metal shares held strong. HindCopper went up 12.28%, followed by SAIL at 3.5%. Private companies did not perform well.

Shares of Naukri jumped back 8%, just like we had hoped it would last day. Click here to read more about the company. IT companies also performed generally well in the day, after many days of losses. Infosys was strong in the morning as the company is closing a $1.5 Billion(~Rs 10,500 crore) with Pfizer.

Shares of HDFC and HDFC Bank were once again heavily sold in the day, with both of them closing nearly 2% down.

Remember GMM Pfaudler? Well, the stock has gone up nearly 17% today after jumping 5% up yesterday. The company had acquired a majority stake in the global business of Pfaudler Inc. Check out this article about the shares meteoric rise, and controversies.

Shares of Insurance Companies jumped up in the day as reports of them increasing premiums on life insurance plans hit the market. New India Assurance jumped 20%. Caught an opportunity in SBI Life today on our watchlist today!

Markets Ahead

One reason why all the top gainers today were PSUs could be that there were rumours regarding centre getting higher dividend incomes from profitable PSUs this financial year. This will help the government meet its growing need for funds. Finance Ministry also asked the RBI outrightly for higher dividend in the upcoming financial year, according to sources in Business Standard.

So as these government companies are likely to declare higher than usual dividends, investors piled up to buy more stocks and hence took them up. This was the reason why today’s most gainers(even check Nifty Metal gainers) were government-run. This could also be the reason why shares like ONGC, GAIL, SBI and PowerGrid went up in the last few days as insiders would have had this news.

Infosys pushed Nifty up by 9 points, closely followed by Asian Paints and ONGC.

HDFC and HDFC Bank did not reverse but fell further in the day. These two companies alone pulled Nifty down 53 points today. Hoping they will be the ones stopping the next round of falls. This will probably happen only as global markets turn green, as they are FII favourite stocks. On that note, Foreign Institutions would also have had less participation in the market leading to Nifty’s fall. Or did the smart money just move all-in to PSUs which have low weightages on many indices? Let’s wait for the NSE data to come out in the evening.

Nifty and Bank Nifty have clearly broken out of there uptrends. Let’s hope 15,000 is respected by Nifty or we may have to see further fall in the index even up to 14,500 levels.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened with a gap-down after many days at 15,285 levels and started falling. It fell and took support at 15,200. The line we drew at 15,240 was once again respected throughout the day. Nifty then bounced back up till yesterday’s closing level. It then tested this level again before falling sharply 140 points. Nifty then consolidated to close at 15,208, down 105 points or 0.68%.

Bank Nifty traded inside yesterday’s range and saw proper consolidation within this range. After opening with a gap-down just above 37,000, the index of banks fell to take support at yesterday’s low. It then moved sharply up around 600 points, taking Nifty up as well. Bank Nifty started falling pulling down Nifty too and consolidated to close at 36,910, down 187 points or 0.51%.

Nifty PSU Banks once again closed as the top gainer, gaining 5.9% in the day. The only other major sectoral index to close in green was Nifty Media(up 2.18%). Fin Nifty, Nifty IT and Nifty Pharma fell more than 1% each.

European markets are all trading in the red, along with our markets. Asian markets also moved into the red for the day.

News Picks

PSU Bank index again hit a high today after yesterday’s 4 banks again went up 20%. Bank of India, along with Central Bank, Maharashtra Bank and IOB again at 20% up! They jumped up on hopes of privatisation by the government. SBI too gained 2.34% in a day when Bank Nifty closed in the red.

Auto stocks closed mixed in the day with Nifty Auto index up only 0.28%. MotherSumi gained another 6.4%, thereby going up nearly 30% since results were announced last week. Other auto ancillary stocks, Bosch and Bharatforge closed more than 1% up.

Hero MotoCorp from the auto index closed as the top gainer in Nifty with a 3.54% gain as it regained all losses from the last 2 days of fall.

Adani Ports closed among the top-gainers as completion of Dighi Port acquisition made investors bullish on the stock. Resumed consolidating through the day. Check out this article to know why you should look into the company.

Shares of PowerGrid moved up again, closing up 2%. We had discussed how the stock has been shooting up since budget day.

Reliance continued its momentum even going on to near 2,100 levels. It closed up 1.15%. Contributed 16 points to Nifty today.

Shares of Nestle India closed 2.76% down for the day, as Oct-Dec quarter profit numbers of the company failed to impress investors.

All shares from the Nifty IT index fell today with Naukri again falling the most. Investors are getting concerned on the delay of Zomato’s IPO. Click here to read more about the company.

Every stock in the Nifty Pharma index except Biocon closed in the red today. Along with the IT stocks fall, we can make an intelligent guess that this is because of the strengthening rupee, which is under Rs 73 vs the dollar now. Also, it means that Biocon has some strength in the stock.

Shares of Greaves Cotton gained nearly 20% in the day, as the engineering company reported over 50% growth in revenue last week. They also stand to gain from the upcoming EV boom in the country, with related products. Shares have gained 30% in the last week.

Shares of Sterlite Tech, HFCL and ITI gained more than 10% each as the government approved over Rs 12,000 crore PLI scheme for telecom equipment.

Markets Ahead

Nifty has closed in the red today. It has also formed 5 red candles in the daily chart in the last 10 days. Very interesting to see the index consolidating along with global markets near all-time highs.

Kotak Bank and HDFC Bank tried to move up in the morning but fell sharply after 12 pm today. Together these 2 stocks pulled Nifty down by 50 points today.

Shares of Adani Enterprises closed flat in the day, but once again tested the 800 level. It can be watched in the coming days.

The weakness in IT and Pharma stocks continued. Waiting for a clear indication of a reversal.

Even Japanese markets fell today after consolidating near its all-time highs. It is a very clear indication of a pause in global sentiments ahead of the US stimulus. We had also talked about how there might be lower participation from Foreign Investors today, as US bond yields are increasing ahead of the stimulus.

The PLI scheme in telecom equipment was an expected one but still took the specific stocks up. These stocks may continue performing well in the medium term. Also, domestic telecom players like Airtel and Vi also set to benefit from lower equipment cost, especially for 5G.

Highly bullish on the stocks benefitting from 5G and the stocks benefitting from the EV revolution in the long term.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty witnessed a huge intraday fall but closed flat for the day with high volatility. After once again opening with a huge gap-up at 15381, market kept going up for the first 20 minutes to touch a fresh all-time high of 15,432. It fell from that level to take support at the opening range, but broke that level for good after 11 am. Then there was no looking back. 

Just ahead of 2 pm, Nifty touched a low of 15,242, down 190 points from the day high. If you remember, we had marked 15,240 as an important line. Open the charts and you will understand. Nifty then recovered a bit to close at 15,313, down just 1 point or 0.01%.

Bank Nifty too opened with a gap-up but fell sharper than Nifty. After opening at 37,550, Bank Nifty quickly jumped up to create newer highs with the help of private banks. But this was not sustained and the index fell after crossing the opening range with a big red candle. 37,000 acted as support but even this was broken with the index falling even further. The index fell nearly 1,000 points intraday.

Bank Nifty recovered a bit to close just at 37,098, down 207 points or 0.56%.

Nifty Metal closed as the best performing sector in the day, gaining nearly 2.9%. PSU Banks index closed 1.6% up. No other sector closed more than 1% up in the day. Nifty IT fell 1.5% in the day, with no other sector closing more than 1% down.

European markets are all trading flat, taking rest after multiple days in green. Those Asian markets which were open also traded in the flat to the green zone.

News Picks

PSU energy and power stocks including ONGC, PowerGrid and NTPC featured as the top-gainers in Nifty 50. IOC also featured in the list of gainers.

Shares of Axis Bank and ICICI Bank featured as the top losers today, after being the top gainers yesterday. Like childhood friends, they continue to move together pulling Nifty down by 33 points. They helped in Bank Nifty’s fall today even as Kotak Bank(up 1.7%, crossed Rs 2,000 zone) and HDFC Bank(up 0.62%) stayed in the green.

RBL Bank and Bandhan Bank shot up through the day, with good volumes even as Bank Nifty fell. Once again reminding you that midcaps will perform when the major indices are consolidating. 

PSU Banks moved up in the day, with their index closing strongly in green when Bank Nifty fell. Bank of India, along with Central Bank, Maharashtra Bank and IOB all closed 20% up just today! They jumped up on hopes of privatisation by the government. None of them have weightage in Bank Nifty, hence they did not contribute.

Tata Steel and Hindalco closed among the top-gainers after many days of needless falls. They helped in pushing the metal index up. Steel consumption is about to go up with the Ministry of Road Transport and Highways issuing orders for the usage of any different types of steel for the construction of highways. Jindal Steel also gained 7.79% in the day. SAIL gained 3%, along with National Aluminium and NMDC.

Shares of Reliance gained today to close above Rs 2,050. It was going up in the morning while Nifty was falling. Contributed 17 points to Nifty today.

Apollo Hospitals gained 3.6% again after the company’s positive results last day.

Shares of Naukri fell 7.7% as the IT sector remained bearish. Profits of the company have been falling for 5 quarters in a row, but the stock will surely continue its rally back up after finding support. Only 3 out of 7 stocks in the Nifty IT index closed in green. 

Shares of Adani Enterprises was up nearly 5-6% intraday, even touching the Rs 800 mark. It fell to close in the green, above 2% up for the day.

Shares of Trent went up more than 7% today. You can check out the article we wrote on the company yesterday, here.

Shares of HEG and Graphite India again went up in the day, gaining more than 15% each. These companies build important components in the manufacture of batteries and will be useful in the Electric Vehicle revolution. Shares of Tata Power also went up 4%.

Markets Ahead

Just as expected Nifty closed flat for the day. And again as expected it was a good volatile consolidation. I believe that the primary reason for Nifty’s consolidation today was the lack of cues from the US markets yesterday, which were closed. The analysis that Nifty would touch 15,400 by this expiry worked anyway. Helped in managing my swing and options positions accordingly.

The breakout in Kotak Bank looks interesting. Study the charts. Also Adani Ports seems to have broken out of a long uptrend move, and might see some consolidation before further movement. Might be a good point for investors if you could catch a dip in the stock.

Currently, as we speak, US Futures are trading with a premium. If this is sustained, then we might see Nifty gain some strength again tomorrow.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Just as we discussed last day, if everything does go well over the weekend, Nifty would be touching fresh highs. And it has indeed touched fresh highs. After opening with a gap-up in the day at 15,270 above the all-time highs, Nifty consolidated for a while as different sectors worked to keep the index at the level but soon broke out. After trading in a tight 90-point range, Nifty closed bullish at 15,314, up 151 points or 1% for the day.

Unlike Nifty, Bank Nifty was bullish throughout the day. Every stock from the index closed in green today with the index of banks moving nearly 1,000 points from the day’s open. Last day the index had ended at a good high and was surely going to bullish today. After creating higher highs, Bank Nifty closed the day at 37,306, up 1197 points or 3.32% for the day. It was the top-gaining sectoral index.

Bank Nifty once again closed as the top-gaining index, closely followed by Nifty Financial Services at 2.87%. Realty gained more than 1.5%. No sector closed more than 0.5% down in the day.

European markets are all trading in the green. Those Asian markets which were open also traded in the green.

News Picks

Shares of Axis Bank and ICICI Bank mainly pushed Bank Nifty up. The stocks have been continuously rallying for the past many weeks. ICICI Bank is at all-time highs, and Axis Bank took resistance at its all-time high today. Can be watched in the coming days as well.

HDFC Bank rallying up more than 2% also did well for Nifty today. The stock has also touched its new highs today and is in uncharted territories along with Bank Nifty.

Tata Motors closed up 2.4% in the day as a confident company said future models of Jaguar will be built exclusively on a pure electric architecture. JLR is generating a lot of free cash flow and aims to be net-debt free by 2025.

Motherson Sumi continued its rally from Friday and closed up nearly 7% for all the reasons we had discussed, including great results and positive commentary.

After reporting a 49% year-on-year increase in net profits to Rs 134 crore, Apollo Hospitals jumped up to close more than 12.5% up in the day. 

Shares of Chola Finance gained more than 13.7% in the day to touch fresh highs. Many financial companies performed well in the day, as was Ti Investments India, another company from Murugappa Group also hit their new high today, up nearly 6%. 

Many Adani Group companies again performed well in the day with Adani Enterprises closing more than 6% up. Adani Transmission closed more than 8.5%. But a correction was seen in all the group stocks near the end of the day.

Shares of Amaraja Batteries closed nearly 6% down as the earnings numbers from the company failed to excite the markets.

Markets Ahead

Another day of gains for Nifty, and such a happy sight as well seeing Bank Nifty back to power again after the consolidation. We all know and had talked about what would happen once a stock/index consolidates. It will give a strong move to one side, and Bank Nifty flew up today. 

Bulls were testing out and looking to outperform and so they did. Also, just as we discussed in the pre-market report today, FII favourite stocks were very likely to perform today. Bank Nifty and Nifty has gained closed near their day-highs saying that we may see more up move.

And HDFC, HDFC Bank and Airtel performed with the exception of Reliance. You can look into the top gainers from Nifty 50 today and see that high holding by Foreign Institutional Investors(FIIs) would be a common theme in most of them, including Bajaj Finance and Axis Bank.

Also last Friday, we had talked about how Adani Enterprises was on the list of Top 50 companies by market cap in India. With the rally taking it to higher highs, will we maybe even see it on Nifty 50 soon? That would actually mean a lot of funds potentially flowing in to the stock.

Check out our article on Trent, and see why it may be the Tata Group’s next multi-bagger stock.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty once again consolidated in the day closing the day with just losses of 10 points. The index opened the day with a small gap-up and after some violent consolidation, tried to move up. The all-time high zone acted as a good resistance and the index fell. And then just after 1 pm, Nifty fell 150 points intraday as profit booking kicked in. European markets also opened and fell around 1:30 pm.

When global markets started recovering, Nifty also recovered a bit to close at 15,163, down 10 points or 0.07% for the day.

Bank Nifty also consolidated in a tight 600-point range, but closed as the top gaining sector of the day. 4 out of the top 10 gainers in Nifty 50 today were banks. The index opened with a slight gap-up at 35,764 and moved up. This was helped with HDFC Bank making a huge green candle in the first minutes of trading.

SBI, Axis Bank and ICICI Bank also went up in the day. The intraday fall did not affect the index much, which almost touched its all-time high today. Bank Nifty closed the day at 36,108, up 356 points or 1%.

Bank Nifty closed as the top gaining sector, and was the only one to close with more than 1% gains. Nifty Metal fell more than 1.7%, and was followed by Nifty FMCG and Nifty Pharma.

European markets are trading flat to red in the day. Consolidation was also seen in Asian markets, whichever were open.

News Picks

Adani Ports closed as the top gainer in the day in Nifty 50. The gains were supported by Container Corp’s positive results and rally. We have written a well-laid out article on why the stock could rally even more, you can read it here.

Shares of Container Corp closed up 9.7% as rumours of Railways approving a land lease agreement surfaced. A lot of positivity surrounding the stock, along with last weeks good results announcement.

Shares of ITC fell to close down 4% in the day, with results not impressing the market. This sentiment brought down the entire pharma sector with only 2 stocks from Nifty FMCG closing in the green. Shares of PGHH gained more than 3% from the index, as they reported a 77% YoY increase in profit after tax for the last quarter.

Motherson Sumi reported a 2.7 times increase in net profits to Rs 1,268 crore, along with a 14% increase in revenue to Rs 17,092 crore. Shares of the company skyrocketed after this from reds to close more than 10% up in the day. They also said net debt is now the lowest out of the last 14 quarters. 

Again from the same sector, Bharat Forge reported a Rs 210 crore net loss in the third quarter compared to a profit of Rs 40 crore last year. Shares did not fall much as the losses included an exceptional loss of Rs 299.4 crore, which market already factored in. Revenue fell 5.9% YoY.

Adani Enterprises gained more than 9% today as promoters revoked more pledges, as we discussed in the morning report. It entered the list of top 50 companies in India by market capitalization. 

Shares of SpiceJet and Indigo opened with a gap-up then fell sharply as news hit of DGCA increasing minimum and maximum charges on domestic airlines.

Shares of Ashok Leyland fell more than 5% as the company reported net losses for Q3. 

Shares of Bosch fell 3.74% as the company reported a 3% YoY fall in net profits to Rs 184 crore, blaming it mainly on the semi-conductor shortage.

Markets Ahead

Another green week for Nifty with gains of 1.6%. IT and Realty sector performed the best in the week, both gaining nearly 3%. PSU Banks index corrected more than 2.3%, while FMCG also fell 2%.

But more importantly, as we have discussed, when Nifty consolidates is the time when Midcaps and Smallcaps shine the best. Nifty Smallcap index closed more than 3.9% up in the week. Nifty Midcap also gained more than 2%.

I feel that midcaps will generally outperform large caps in the coming years, and have included a midcap fund as well in my portfolio.

IT stocks rebounded like we discussed yesterday. In fact, the top gainers in the morning were all IT stocks for a bit. SBI took support at last weeks low and did not fall. 

Nifty and Bank Nifty have tried testing their all-time highs again today. So the bulls really are trying to outperform. If all goes well over the weekend, we may see Nifty breaking out to form new highs next week.

The India VIX has also fallen 4% to 22.14, showing that volatility has reduced in the week’s close.

Plot a few charts, and find a few companies over the weekend which look good for investment. But do not forget to have a cup of tea and enjoy life, as well. Analyse your P&L and focus on bettering yourself. 

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty closed in the green today, after multiple days of red candles. A proper day of consolidation in the market. Nifty trading in a range of 120 points in the day. After opening with a gap-down at 15,078, Nifty moved up in the first few candles of the day. It then traded sideways, in a 60-point channel for more than 5 hours, before slightly moving up. Nifty closed the day at 15,173, up 66 points or 0.44%.

Much of Nifty’s consolidation was courtesy of Bank Nifty. After opening nearly flat at 35,707, the index of banks traded in a 450 point range today. Just for context, the index moved more than 6,000 points last week. And today it moved less than 1/12th of that. Bank Nifty closed the day at 35,752, down 31 points or 0.09%.

Nifty Energy gained the most in the day, but this was surely because of Reliance’s rally. Nifty Metal gained by more than 1%, while only PSU Bank index fell more than 1%.

Most Asian markets remained mixed in the day, with most of them closing flat. European markets are also trading flat.

News Picks

Hindalco closed as the top-gainer in Nifty 50 after the company announced 90% increase in Net Profit Rs 2,021 crore in December quarter. The stock had been in an uptrend from the morning.

Reliance has jumped back in to the top-gainers list today gaining more than 4%. Was a clear trading opportunity since when the stock crossed Rs 2,000 level. The stock had been bearish for a long while, and with upcoming spectrum auctions, shares of telecoms are seeing a buzz in activity. 

Following the trend, Airtel closed nearly 1% up. Shares of Vodafone Idea closed more than 8% up. All 3 major telecom companies have confirmed participation in the upcoming spectrum auction.

EICHER MOTORS continued yesterday’s fall by closing as the top loser in Nifty 50. The market has not liked the fall in margins of the company in Q3 results.

Shares of Adani Ports continued their journey into all-time highs and found place in the top-gainer’s list today. The company has one of the highest EBITDA margins in a Nifty 50 stock, that means a lot of their revenue contributes to profits.

Shares of SunPharma jumped just after noon as SEBI accepted settling the charges against promoters by a whistle blower that Sun Pharma had diverted funds through related party transactions. It closed in the top-gainers list today.

Shares of MRF fell sharply after results of the company was announced. An increase of 116% in net profits to Rs 511 crore was reported for Q3. Revenue increased 14% to Rs 4,567 crore. I think the market was disappointed about a stock-split not being announced.

Shares of Route Mobile jumped 20% in the day. The share has seen a 30% increase in the last week as they aim for more growth in the American market. Affle India’s shares closed in the 10% upper circuit today, it has also gained 33% in the last week. Tanla Platforms also gained 6% from this positivity.

NSE acquired 26% and GAIL acquired 5% in Indian Gas Exchange, which is a subsidiary of Indian Energy Exchange. Shares of the IEX gained more than 11% in the day. Might see a lot more going ahead. Read about the company IEX here.

Markets Ahead

We had talked about how Nifty would not move much today. The increase in call option contracts at 15,200 was also pointed out. And Nifty has rightly closed below this mark.

MRF’s fall was one of the highlights of the day for me. Had personally wished to see the stock at Rs 1 lakh but had some fun shorting it. Although did not expect it to fall this much. A laughable Rs 3 dividend was declared for the stock which was valued at nearly Rs 98,000 earlier today. MRF closed at 90k for the day.

15,000 continues to be a good support and today 15,050 ranges saw a lot of buying. Reliance getting back into power was one of the reasons for this, otherwise Nifty would surely have fallen to 15,000 today. Reliance contributed more than 65 points to Nifty’s 66 point gain today.

IT stocks have been falling and may see a reversal soon. Also, SBI is forming a really nice consolidation pattern in its 5-minute chart. I am expecting a fall as a correction in the stock.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty moved up and down with a lot of volatility in a 160 point range today. Just like we usually see on Wednesday’s market fell sharply, but then went back up with equal power towards the end of the day. Once again closing flat against yesterday’s close, we could say that Nifty indeed consolidated today.

After opening flat at 15,125, and from the first few candles, it was made clear that the index would be volatile today. The index fell multiple times to 15,000 level, and even broke it once. But strong buying was seen across the board whenever Nifty touched 15k, and the index rebounded to close the day at 15,106, down 2 points or 0.02%.

Bank Nifty turned a bit bearish in the day, but ultimately consolidated and closed in the red. 36,000 was taken as a good resistance and the index could not sustain above this level. It fell below yesterday’s low after trying to take support at 35,500 but gained sharply along with Nifty in the last 30 minutes. Bank Nifty closed at 35,783, down 273 points or 0.76%.

Nifty Realty gained the most in the day, followed by Auto and Pharma. Bank Nifty and Fin Nifty fell the most today.

Asian markets remained mixed in the day. European markets fell after opening and this also reflected in Nifty around 1:30 pm, now trading mixed.

News Picks

The Bajaj Twins – Bajaj Finserv(up 2.8%) and Bajaj Finance(up 1.4%) went up today. Baj Finance seems to have followed Baj Finserv, who was already trading in the green, near the end of the day.

Life insurance companies SBI Life & HDFC Life continued to rally from yesterday. The positive commentary from the HDFC LIFE CEO today gave the insurance sector a major boost. 

SBI General Insurance’s Gross Direct Premium growth of 74% YoY gave some confidence to the market. Data from General Insurance looks good for January.

EICHERMOT was down by 1.5%. The stocks fell heavily after reporting their Q3 earnings during the later part of the day. The company’s Q3 report was not well received by the analysts and profits were booked in the market. Net profit of ₹532.6 crore was reported for Q3, up nearly 7% YoY. Revenues up 19% YoY at Rs 2,828.3 crore

M&M up by 2.14% & TATA MOTORS up by 1.18%. Both these stocks fell by more than 3% yesterday. M&M was constantly moving throughout the day whereas shares of TATA MOTORS saw a sudden and huge buying demand around 2.30 pm in the afternoon. 

TCS was up by 1.15%. TCS announced that the company will hire around 1,500 technology employees across the UK over the next year. The company said they are committed to invest in UKs economy and technology sector.

HDFC Bank fell the most in Nifty 50 and pulled the index down more than 22 points.

Shares of Tata Steel closed down by 1.28% after profit booking kicked into the stock. The company had announced Q3 results yesterday, returning to profitability.

Shares of Muthoot Finance gained 6.85% after the company reported its profits numbers yesterday. It gained slowly and steadily throughout the day.

Shares of Indiabulls Housing Finance gained sharply after 12 PM to close up by 5.62%. It was among the top gainer in F&O activated stocks. 

MotherSumi gained sharply and hit a fresh 52-week high today. A lot of buying was seen in the stock exactly near 12 noon.

Cipla closed in the top-gainers list after the company said it plans to double share from consumers health business in the next 5 years.

Shares of Dixon closed 7% up in the day, rallying more than 20% since last Thursday. Upcoming share split in the company. 

Shares of MRF gained sharply afternoon to close near Rs 97,000. Just Rs 3,000 to go till the 1-lakh milestone! Q3 results are expected tomorrow. 

Markets Ahead

Nifty has once again consolidated with a red candle. But the rally towards the end was very interesting to see. Almost all stocks and indices jumped, showing that there was a lot of buying interest across the whole market. 

Even across the whole day, when Nifty touched 15,000, there seems to have been a lot of buying like someone did not want the market fall. Possibly a lot of FII buying activity at these ranges was the reason.

With no other big event coming, markets seem to be in a mood to consolidate. The increase in call option contracts at 15,200 and 15,300 also shows that a lot of people don’t want the market to go up in this expiry.

Keep watching for the 15,000 support. Just like how breaking supports can be a trade opportunity, taking support at a level and going up is also a good indication. Keep watching Nifty between the ranges of 15,000 and 15,200. Any movement beyond these ranges will show that there is a change in the consolidation sentiment.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

What a day for a Nifty. Once again proving that Nifty is a trader’s paradise. After opening with a gap-up, Nifty remained volatile and consolidated for the first one hour.

But just after 10:30 am, the index broke out of its opening range. It slowly went up, consolidating along the way and touched the day-high just after 2:30 pm. Then it started falling, and within 50 minutes, the index fell nearly 200 points. Nifty recovered a bit to close the day at 15,109, down 6 points or 0.04%. noon and Nifty set new day-highs. Cooling down, the index closed the day at 15,127, up 203 points or 1.36%.

Bank Nifty opened flat and fell in the first 30 minutes. After taking support near 35,600, Bank Nifty reversed and started moving up 900 points till near 36,500. This resistance was exactly near yesterday’s high. After falling from this level, Bank Nifty fell to close at 36,056, up 72 points or 0.20%.

Only Bank Nifty closed in the green today. Nifty Media, Auto and Pharma sectors fell most in the day.

Asian markets closed flat to green today. European markets are currently trading in the red and definitely contributed to Nifty’s fall.

News Picks

When banks and metals were pulling the index down in the morning, IT stocks helped push up the index. When Banks and Metals started moving up, IT stocks cooled and fell.

Life insurance stocks including SBI Life and HDFC Life gained most in the day in Nifty 50 stocks after falling for many days even in between general market rally.

Asian Paints also featured among the top gainer’s list after continuing its rebound from 2370 level.

IT stocks gained in the early hours of the market but could not sustain. Only Wipro could end on the top-gainers list of Nifty 50.

Auto stocks fell after yesterday’s rally. M&M, Tata Motors and Bajaj-Auto fell among the most in the day.

Muthoot Finance reported a net profit increase 22% YoY to Rs 991.4 crore. Net interest income also increased by 13% to Rs 1,819 crore. Shares jumped after this result to close more than 1% up.

Shares of oil retailers fell even as petrol prices in the country reached all-time highs. IOC was the top-loser in Nifty 50 along with factoring in the Rs 7.5 dividend payout.

Shares of Berger Paints jumped nearly 2% as the company reported a 50% YoY increase in net profits to Rs 274 crore for Q3.

Shares of Tata Chemicals jumped 7.82% touching new all-time highs. It crossed this level with high volumes. Balaji Amines jumped 14% and Aarti Industries also jumped more than 3.5%. Balaji Amines jumped after positive commentary from the management along with an increase in sales volumes with net profits tripling in Q3, with an increase in revenues.

Markets Ahead

Nifty has corrected after the many days of jumping up. Even today, the index touched new highs but the entire market saw a good sell-off after touching 15,250 levels. Bank Nifty has also closed flat in the day. 

15,000 will be taken as a good support tomorrow, and 14,800 can also be watched below. Today’s high, both in Nifty and Bank Nifty can be seen as resistance levels for the next day.

PowerGrid shares are taking resistance at a good level in the monthly charts. Can keep watching. Tried to move up in the day, but fell beautifully afternoon. Fun fact: PowerGrid is also an Internet Service Provider(ISP).

Nifty has broken a channel it was trading in, and might not touch the 15,500 level which we talked about yesterday if support is not taken at 15,000 this week. Try identifying this simple channel in the 5-minute chart. If this channel is not re-entered with a good movement, Nifty will see consolidation ahead.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.