Tag: nifty Bees strategy

Today’s Market Summarised

Nifty opened the day with a gap-up at 15,064 and took support, as expected. The index crossed 15,100 without much issue but started taking resistance near 15,130. The opening range was taken as support after 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 with a gap-up but formed a red candle today. The index was not able to break the high made on Friday and took resistance near 36,450. Bank Nifty fell steadily to close the day under the 36,000 level at 35,983, up 0.92%. It was the first red day candle in Bank Nifty since 29 January.

Nifty Auto along with Metals performed the best in the day, followed by IT and Realty. PSU banks fell more than 1%, after many days of gains.

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

News Picks

Shares of Mahindra & Mahindra jumped up to hit the upper circuit as the market bounced back from Friday’s fall. There are also reports stating that Amazon is reportedly in talks with Mahindra Electric to source electric three-wheelers for global operations. Shares closed at 7.39% up in the day.

Shares of Tata Motors jumped in early trade then flew near the end of the day after strong consolidation. China has reported higher sales for passenger vehicles, and is a good market for Jaguar Land Rover. The company has also announced Jaguar I-Pace(electric vehicle) in India. Commerce industry has also announced roadmap for Free Trade Agreement with UK, which may benefit JLR.

Shares of Godrej Consumer Products fell with huge volatility after the announcement of the company’s Q3 results. Profits went up 12.8% YoY to Rs 502 crore, revenue up 10%. But margins remained flat. Britannia also fell after Friday’s results announcement.

Most major stocks in Nifty Auto closed in the green with only Bajaj Auto closing flat. Auto ancillary stocks including Mothersumi and BharatForge closed with gains above 4%.

Battery stocks including Exide India and Amaraja Batteries closed well in the green today. This was probably after the Delhi Govt’s push for EVs in the short-term, with tenders being invited for setting up of charging stations. Tata Chemicals also gained more than 2% along with Tata Power.

Carbon and graphite product manufacturing companies including HEG(up more than 10%) and Graphite India(up 20%) closed with huge gains. As we do know, Graphite materials remain among the most used material in lithium-ion batteries. This is part of the EV rally, and these stocks have been rallying a lot.

In fact, all major stocks from the house of Tata mentioned above including Titan and Voltas (excluding Tata Communications) closed with gains as rumours of Tata Sons buying back shares of its companies surfaced. 

All IT stocks went up in the Nifty IT index, except for LTI. Info Edge closed more than 5% up, followed by Coforge, Mphasis, Mindtree and Infy.

Markets Ahead

Auto and IT were set to be the top performers of the day, with them being muted through last week. This was definitely good to see. 

Reliance also contributed nearly 20 points to Nifty today, in a day when 40 out of 50 Nifty stocks closed in the green. 

ICICI Bank was the top contributor Bank Nifty but that honour in Nifty went to Infosys who has closed with a highly bullish candle for the day. We may see some more movement in Large-Cap IT companies if the general market helps.

Nifty has closed in the green for the 6th day in a row, hitting fresh all-time highs. 15,000 will be taken as good support in the coming days, along with 14,800 and 14,400. If the global markets rally sustains, we may see Nifty at 15,500 very soon. Move your pieces intelligently, pick out the sectors which will rally next.

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

Today’s Market Summarised

For Nifty, 15,000 acted as a strong resistance today. After opening at a strong gap-up at 14,972, the index tried to move up but could not sustain the rally above 15,000. It fell with a lot of volatility as Banks moved up but almost every other sector fell sharply. Nifty closes the day at 14,924 up 28 points or 0.19%.

Bank Nifty again rallied more in the early hours of trade today. After opening with a big gap-up at 35,754, the index jumped up with power from SBI hitting upper circuit and HDFC Bank rallying. After creating a high, the index of banks cooled down and fell to take support at 36,000. This was broken afternoon, and Bank Nifty closed below the opening range at 35,654, up 309 points or 0.88%.

Nifty Pharma performed the best in the day as a sector, followed by Metals then Banks.

Asian markets have closed in the green. European markets are currently trading flat to green.

News Picks

Shares of SBI gained right from day open with almost 8-9% gap-up. It went on to hit 10% upper circuit, and even tried to touch the 15% mark. The stock was bullish after crossing its all-time high, just like we had talked yesterday. The stock has gained nearly 40% since Monday morning. Announced better than expected results yesterday.

Shares of Tata Steel again back to its usual self by gaining nearly 5% for the day. The stock has been rebounding from a very good level of Rs 600.

Axis Bank shares fell along with ICICI Bank today to pull Bank Nifty down. Both stocks have good weightage in the index.

Shares of ZEEL fell nearly 14% hitting multiple lower circuits. Analysts had noted that the free cash flow of the company will reduce with its new and upcoming investments.

Shares of Mahindra & Mahindra fell marginally as the company announced worse than expected Q3 numbers due to one-time hit from Ssangyong unit. The company announced Q3 net profit up 42% at Rs 1,268 crore, as revenue grew 11%. Still looks like a very strong growth to me.

All but two stocks in the Auto index closed in the red today. Even the two green stocks, Exide and Bajaj Auto were very much flat.

IT stocks mostly fell through the day, with only Naukri ending in the green from the index. IT stocks have been falling for the past many days, and were not part of the Nifty’s rally this week.

Pharma stocks continued to rebound from their lows and ended as the top gaining sector. DivisLab, TorrentPharma and Dr Reddy closed among the top-gainers in the day.

StoveKraft listed with gains and closed 15% above IPO price.

Markets Ahead

Nifty and Bank Nifty ended at all-time highs with the best week in indices in last ten months or so. Bank Nifty posted 16.6% gains for the week while PSU Banks index gained more than 25%. Glad that the analysis gone wrong from yesterday was overcompensated by the analysis gone right on SBI.

An interesting fact for today is that Nifty has doubled from its COVID-crash. Fueled by recovery with vaccine hopes, liquidity in global markets because of low-interest rate and increased participants in the market, Nifty has rallied like crazy. In fact, even Bank Nifty has doubled.

Take a chill pill, and have some tea while you think about this rally. Soak it in and draw some charts and find new opportunities over the weekend.

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

Today’s Market Summarised

Nifty continues on and on. With banks staying very very bullish and ITC jumping, Nifty touched new all-time highs today. After opening at a small gap-down at 14,768, Nifty took support at 14,700 and started moving up. It moved up then consolidated, moved again then consolidated again. And slowly Nifty crossed 14,900 and closed at 14,895, up 105 points or 0.71% for the day.

Bank Nifty beating all expectations and moving up even above huge huge resistance of 35,000. SBI led the rally along with Kotak Bank. After opening with a gap-down at 34,452, the index fell and took support at 34,240(check charts, it is a good level). It consolidated near to 35,000 for more than 90 minutes, then started moving up with the huge boost from SBI near the end. Bank Nifty closed at 35,344, up 586 points or 1.69% for the day.

Nifty PSU Bank ended with big gains(+5.9%) lead by SBI and Canara Bank. FMCG also did well(up 2.4%) on the back of ITC rally.

Asian markets closed mixed, with most indices even closing in the red. IT was the index which closed in the red, with just small losses.

News Picks

Shares of ITC gained after 12pm with huge strength on the back of big volumes and closed as the top gainer in Nifty 50.

Shares of SBI gained towards the end of the day as the bank published better than expected results. Net interest income rose 4% from last year Q3 to Rs 28,820 crore. Net profits fell 7% YoY to Rs 5,196 crore on higher provisions for bad loans. The stock alone pushed up Bank Nifty by 250 points today.

Shares of ApolloTyres closed 7.2% up to as the company posted amazing results yesterday. You can read this article to know why tyre stocks have been rallying off-late. Balkrishna Industries also gained 6.26%.

Jubilant Food bounced back from yesterday, closing more than 6.7% up. Along with ITC it took the FMCG index up. Also, Procter & Gamble India share price hit a new 52-week high after the company reported a Q2 profit jump of 84%.

PSU banks rallied in the day, along with positivity from SBI. Indian Bank gained more than 15%, and Bank of Baroda gained more than 6%. These stocks have no weightage in Bank Nifty.

Godrej Properties fell by more than 3.5% as the company reported net profit down 69% YoY to Rs 14 crore for Q3. Total income fell 28% YoY to Rs 306 crore.

Tata Power reported net profit up 22% YoY to Rs 318 crore for Q3. Revenue is up 7.4% to Rs 7,598 crore. Shares closed up 6.4% in expectation of good results.

Markets Ahead

What a week of rallies for Nifty and Bank Nifty. By weekly, I mean from last weekly expiry to this expiry. After touching 13,600 last Friday, Nifty rallied more than 1300 points to close near its all-time high today! Bank Nifty rally for this expiry has been even more staggering rallying almost 6,000 points since last Thursday’s low.

Really did expect Nifty and Bank Nifty to take some rest today. And did not feel Bank Nifty would cross 35k today. Did not expect Nifty to cross 15k and this worked right for the week. Analysis need not always be right, right? 

The monetary policy announcement for tomorrow will be an important event, although no significant changes will be announced. With SBI looking largely bullish, and near its all-time highs can expect some more rally if that level is broken.

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

Today’s Market Summarised

Just 13 days after Nifty touched all-time highs, it is back again. After opening near the all-time high level with a gap-up, Nifty created a huge red candle in the first 10 minutes and took support near 14,580. From there the index slowly went back up and touched a new high of 14,868. Calming down, the index closed at 14,789, up 142 points or 0.97% for the day.

Bank Nifty once again bullish in the day. After opening with a gap-up, the index took support at 34,000 and flew back up. Even though not as bullish or crazy as the last two days, the index of banks went up 900 points from there. Bank Nifty cooled down near the end of the day to close at 34,758, up 490 points or 1.43%.

Nifty Pharma rebounded strongly, and was followed by Nifty Metals and Banks. Realty and FMCG sector closed in red. 

Most Asian markets closed in the green while European markets are currently trading flat to green.

News Picks

Shares of IndusInd Bank jumped up to close up 7.47%. The stock has seen an absolutely bullish rebound along with the market. Morgan Stanley had also raised the target price on the stock, which it touched today. Share was up more than 13-14% intraday.

Energy PSUs PowerGrid, Coal India and NTPC featured among the top-gainers, calmly continuing their rally after the budget announcement.

Absolutely the day of Pharma stocks as many featured in the top gainers’ list, along with Pharma being the best performing index of the day. Some stocks including AstraZeneca India were in an absolutely unnecessary fall but took support at good levels. Dr Reddy, Divislab, Cipla and SunPharma were among the top gainers.

ShreeCem and UPL featured in the top-losers section after rallying for many days. PVR also fell 3%.

FMCG stayed flat as Jubilant Food fell 2% after reporting flat revenue growth YoY for Q3. Net profit is up 21% at Rs 125.1 crore. 

Tata Motors fell towards the end of the day after going up till Rs 341. Still the stock closed up 2.8% up. 

Shares of Indigo Paints fell more than 5% after the stock posted a 110% gain from IPO price yesterday.

Finance stocks including Shriram Transport Finance, M&M Finance, Power Finance Corp and Cholamandalam Finance gained between 4-7% in the day.

Bharti Airtel reported a net profit of Rs 853 crore vs a Rs 1035 crore loss last year. Revenue is up 20% YoY to Rs 21,947 crore for Q3. Average Revenue Per User(ARPU) of Q3 is at Rs 166 compared to 135 last year. Last quarter ARPU was Rs 162.

Markets Ahead

Going long on Nifty when it broke the all-time high around 10:10 am was definitely a good move that you could have caught today. Also, I am having a bearish view that Nifty would not cross 15,000 tomorrow.

The huge open interest build-up at 15,000 is an indication but also that Reliance is not very strong as well with Future vs Amazon deal still being stuck. HDFC Bank the range of 1578-1580 can be watched as the stock has taken resistance there multiple times.

Global markets are seeing some profit booking with Europe falling very sharply in the afternoon. I am also expecting a continued rebound in pharma stocks if the market supports along with possible rally of midcap financial stocks.

And hoping everyone who bought some Nifty BeEs with me last week is sitting in some worry-free profits.

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

Today’s Market Summarised

The surprises with Nifty continues. With continued power from yesterday’s Union Budget, Nifty was powered up throughout the day and charged ahead. It has closed today with more than 1,000 points from Friday’s closing level.

As was expected, Nifty opened with a gap-up at 14,483 and went up flying. And it stopped and took resistance at nearly the same point as Nifty’s all-time high near 14,730-’750. That level is meant for another day I guess. After touching that level, Nifty quickly fell to take support at 14,500. Then, Nifty slowly moved up from this spot to close at 14,647, up 366 points or 2.57%.

Bank Nifty also followed a very similar pattern. It opened with a very significant gap-up at 33,637 and went up more than 1000 points in less than 20 minutes. After coming back down, the index consolidated in a very volatile range and closed at 34,267 up 1178 points or 3.56%.

Nifty Realty and Nifty Auto continued to fire till the end of day and overtook Bank Nifty as the top gaining sectors. Nifty Media also did well in the day. All indices closed in green today.

Asian markets have all closed in the green today just like yesterday. European markets are also in the green.

News Picks

Tata Motors shares rocked in the day to go up 15%. What less can be said about this. The share has broken many technical resistances and soared high in the day to close as Nifty 50’s top gainer. Surely the increase in Domestic Sales and exports of the company would have helped, as we talked in the pre-market report and scrappage policy announced yesterday. Ashok Leyland also went up more than 8.4%.

Cement stocks rocked throughout the day, as the market realised how beneficial the budget was for these stocks. ShreeCements gained 7.7% while UltraCements gained 6.6%. Grasim also followed UltraCemCo with 5.72% gains.

Shares of SBIN gained 7.2% as the government’s continued faith in PSU banks brought in positivity to the stock. It was one of the top performers in Bank Nifty followed by HDFC Bank gaining more than 5.6%.

After Customs duty on metals was reduced in the budget, metal stocks in the country got confidence from the promise that the price hike in steels won’t be looked at negatively. The customs duty decrease might help the steel prices to stabilise a bit, and remove negative eyes from the sector which has seen big price hikes in steel. Hindalco, JSW Steel gained, even when SAIL fell 5%(it has still gained 7% in the last 7-days).

Shares of Realty stocks went up with cement stocks and builders stocks going up. Godrej Properties, DLF and Pheonix Ltd posted good gains in the day.

L&T also gained 4.92% in the day, with infra stocks going up following the budget. You can read about stocks which will benefit from the budget here.

Shares of Power Grid went up 3% while Siemens went up 7.86% after positive declarations for power companies.

Media index rallied with ZEEL, SunTV and PVR giving good movements. Shares like ZEEL have bounced from a beautiful rebound from its 214-level. Check the charts, and maybe there are many many such rebounds waiting to happen.

Escorts reported a revenue increase of 24% YoY increase in net profit at Rs 2,042.2 crore. Net profit is up 85% YoY at Rs 286.4 crore.

Dixon reported a revenue up 120% YoY to Rs 2,182 crore, with an increase in net profit up 134% YoY at Rs 61.6 crore. The company has also approved a 1:5 stock split.

HDFC’s net interest income rose 26% year-on-year to Rs 4,608 crore in Q3. Net profit of the nation’s largest mortgage financier declined 65% YoY to Rs 2,926 crore in the quarter.

Indigo Paints listed with stellar gains, with over 100% profits being booked by the lucky ones allotted a lot in IPO.

Markets Ahead

Bank Nifty has again gained in the day posting stellar gains. But like was discussed in the pre-market report, it was time for other sectors to shine today. Autos flew sharply with the boost from Tata Motors who is on a stellar bull run.

Nifty has gone up and took resistance at its all-time high. This sudden reversal in sentiments may see a lot of index or stock futures shorters to book losses. This might be the reason for the wide gap between Nifty and Bank futures price vs spot yesterday, although it has stabilised a bit today.

Making it clear, rallies like this are amazing opportunities that the markets offer once in a while. Try to make use of it. Keep watching for Reliance, it has crossed and closed above 1900 with a lot of confidence after noon.

The global markets going green is also bringing in a lot of positivity to the index. This is one reason why I am once again bullish on the market. As long as global markets look good, our market being strong by itself will continue the rally. Even if Nifty does slow down, there will be a lot of stock opportunities. So as is always, the search for more and more ‘multi-bagger’ stocks for your portfolio should continue.

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

Today’s Market Summarised

While Friday was dominated by bears, today was the day of bulls. And what a historic day for Indian financial markets. The Union Budget was well received by the market, and by well received I mean very well received. The highest gain during a budget session since 1997 where Nifty rose 6%, which was known as the ‘Dream Budget’.

After opening with a very small gap-up at 13,766, Nifty consolidated and fell till around 11 am. But once the budget presentation started in the parliament, there was no looking back for Nifty. There was so much much power that the rally went on to last even till the end of the day. Nifty crossed several key resistance zones including 14,000 and went up to close the day at 14,281, up 646 points or 4.74%. The unbelievable rally, what a day!

Bank Nifty was even more bullish in the day. With so many announcements for the benefits of banks, including divestment of SBI, the index rallied with so much power. Bank Nifty went up from 30,984 to 33,300 in the day. The index closed at 33,089, up 2,523 points or 8.26% for the day.

Bank Nifty was the best performing sector in the day. Metals gained more than 4.8% while Auto went up 4.2%. Pharma closed in the red, down 0.55%.

Asian markets have all closed in the green today. European markets are also in the green. Did our markets push up others today?

News Picks

Shares of IndusInd Bank stood as the top gainer in the Nifty 50 index. Shares of the company rose as the positivity in Bank Nifty took every banking stock up. ICICI Bank was up more than 12.44% at market close. The stock had also gained well on Friday.

PSU Banks including SBI(up 10.44%) rose after Finance Minister’s plans in the budget to divest stake and also pump in funds to the sector. Bank of Baroda and PNB also went up 8.60% and 7.2% respectively.

Auto stocks gained as the Finance Minister announced the scrappage policy. Ashok Leyland gained more than 10%, while Tata Motors gained more than 6.43% followed by M&M at 6%.

All shares in the Realty index gained as the Finance Minister announced many realty schemes, mainly affordable housing plans. DLF gained more than 10% followed by Indiabulls Real Estate going up by nearly 8%.

Pharma index fell mainly with Cipla and Dr Reddy falling in the day. The sector did not see any ‘special’ benefits in the budget. 

Shares of Titan, Manappuram and MuthootFin gained in the day as the proposal to decrease import duties on precious metals resonated well with market participants.

Markets Ahead

Bank Nifty has touched fresh all-time highs. And Nifty is still nearly 500 points away from its post-covid highs. Will be very interesting to see how this turns out in the coming days. Bank Nifty Feb futures was also just 300-400 points away from hitting Upper Circuit(10%) near the end of the day. The fact that many stocks were at key supports after Friday’s fall also made it a very technical rebound.

While I maintain my position of turning bullish once Nifty crosses 14,000, expecting a small correction after today’s freak show of a rally. 

Traders who kept stoplosses would have maybe been in trouble, as the volatility was huge in the day. Although scalping positions and well thought of SLs would have surely made this one of the best days in your trading career. 

Well, today was the day for option buyers with the markets trending into one direction. Sellers would have faced a huge loss today, while intelligent sellers would not have entered at all. Although, even here I would still say that market could have trapped you multiple times if profits were not booked. Scalpers paradise. All in all, a very satisfying day indeed. 

To be clear, Nifty is rallying like this for the first time since April last year just after the Covid crash. And this my friends is the second Nirmala Candle which you just witnessed today. Open the 1-Day charts to checkout how beautiful it looks. We will be covering all updates from this years budget in a separate article today. Stay tuned!

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

Today’s Market Summarised

The absolute slaughter of bulls in the market today. Each time Nifty tried to raise its head, got pushed down with more power. After opening with a huge gap-up at 13,954, Nifty quickly formed multiple red candles and started moving down. The index tried to take support at 13,800 but fell more. 

Then at 2 pm, something interesting happened. With banks suddenly skyrocketing, it was as if Nifty had gained some new life. It rallied more than 150 points in 30 minutes. The index then in the next 40 minutes fell 280 points. Can you imagine such high volatility! If you can’t then check out the chart below! Nifty regained some losses and closed the day at 13,634, down 182 points or 1.32%

Bank Nifty was the one who again closed above yesterday’s level. After opening with a gap-up at 30,700, the index fell a bit but then consolidated around 30,500 level. The index was relatively calm, just like the sea is before a storm. After 2 pm, Bank Nifty shot up nearly 600+ points then came down and by the market close, it was back at the same level. But unlike Nifty, the index of banks still closed in the green. Bank Nifty closed the day at 30,565, up 207 points or 0.68%.

Bank Nifty closed in the green today, along with Nifty Realty on the expectation of a good budget announcement. Every other sector fell with Metal, IT and Auto sectors falling more than 2%.

Asian markets closed in the red today. European markets are also in the red.

News Picks

Shares of IndusInd Bank closed as the top-gainer in Nifty 50, ahead of Q3 results announcement today. The market is eyeing for a positive result from the private banker and good commentary from management. The stock had also taken good support and closed above Rs 800 yesterday. Check weekly and daily charts to understand the importance of the level.

Shares of SunPharma jumped more than 7% intraday after 2 pm. The company announced a net profit of Rs 1,852.48 crore, up more than 100%. Other incomes of the company aided the jump beating market expectations. We had talked how results of Pharma companies related to COVID-19 medicines may be good, while that of others may be bad. Is this part of that? 

After ending COVID drug Avigan trials in Kuwait after poor results, and worse than expected Q3 results, Dr Reddy’s fell more than 5.52% today to become Nifty’s top loser. The company posted a Q3 consolidated net profit of Rs 19.8 crore as compared to losses last year but was still much below expectations. The stock has taken support at early August 2020 levels and can be watched for more movements.

Shares of Maruti continued to fall from yesterday, with all auto stocks generally coming under selling pressure. The company had announced a 24% YoY jump in net profits but a fall in margins.

Shares of Tata Steel fell more than 3.64% as the company’s talks for selling Dutch business to Swedish company SSAB failed. We had discussed this deal many weeks earlier, where Tata Steel was expected to reduce their debts with proceeds from the sale. Unfortunate. Weekly charts are not looking good with many temporary supports being broken. You can check out how perfect resistance at 730-740 region was taken before the stock started falling and now support at 595-600 is taken.

Havells India fell more than 11.6% today, as the stock rallied to fresh all-time highs in yesterday’s bear market. Today it was caught by the bears and pushed down. The stock had rallied 32% in a month.

Reliance showed signs of recovery by trading in green, but fell sharply after 2 pm.

Markets Ahead

Well, it was a tough day for traders with no stop losses. And it would have been an amazing day for traders who quickly understood the trend and booked profits without getting too greedy. 

As I do believe, trading is a lot about the emotions of an individual. We have a good weekend ahead of us, with lots of time to study charts and prepare good trading setups for ourselves. Well, investors, you know what to do. Buy the dips and HOLD(as they say in WallStreetBets). But do remember to make sure that your portfolio only has gems, absolute gems of their industries in it. I know, some stocks will keep giving quick and good returns even when the market falls. But trust me on this, in the case of a larger correction to 13,500 or even lower, you want to be holding good shares of good companies.

But do remember that Monday will be the Union Budget Presentation. Markets will be volatile, maybe much more than today. Also, option buyers do remember that since a lot of people are hoping for big movements after the budget to both sides, there will be high premiums in the market at every strike which can work against you. So even if you see market moving in your direction, premiums might fall. Please keep that in mind.

That being said, have a chill and amazing weekend. I know some of us would be closing the week with red portfolios, but do remember the end goal is to take intelligent decisions that will help us protect our capital. Study well, and sleep well. Share this article if you felt it was helpful! And leave a comment down below about any of your thoughts.

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

Today’s Market Summarised

Nifty continued its fall today, with markets breaking key supports again. After opening the day at 13,836 with a gap-down, Nifty took support at 13,800 and bounced up to create a day high as seen in the chart below. It then went on to consolidate before falling again. The index recovered losses near the end to close at 13,817, down 150 points or 1.07%.

Bank Nifty surprisingly closed in the green today with Axis Bank posting some refreshing results that apparently excited the market. After opening at 29,931 with a big gap-down, the index traded with volatility in a 540 point range within ranges of day-low and yesterday’s low till 3 pm. The index respected 30,000 level for a while then broke out to close at 30,358, up 73 points or 0.24% for the day.

All major indices except Bank Nifty closed in the red today. Realty and IT fell more than 2.2%.

All global markets including European and Asian have closed in the red today. Even all US Markets closed in red yesterday.

News Picks

Shares of Axis Bank closed more than 6% up as markets welcomed the 36% YoY drop in profits. Net Interest Income(NII) however rose 14% and many analysts have seen this as a good indication for long term targets.

Other banking stocks, including SBIN and ICICI Bank, also closed in the green today. The stocks came back from greens after noon hours. However, HDFC Bank closed more than 2.7% down.

Energy stocks including IOC, BPCL, ONGC and GAIL featured in the top-gainers list ahead of rumours of more stake sales in the Union Budget. Reliance fell nearly 1% in the day even though it tried to move up in the morning.

FMCG stocks which jumped yesterday fell sharply today. Hindustan Unilever fell by 3.8%, along with ITC(down 1.92%), McDowells(down 7.83%), UBL(down 1.35%). Shares of Jubilant Foodworks went up 2.67%.

Similarly, IT stocks fell over the day after going up yesterday. Wipro, HCLTech and TCS featured in the top-losers.

Maruti reported a 24% year-on-year rise in net profit to Rs 1,941 crore, with revenue up 13%. The company sold more cars in India and also increased exports. Margins were reduced after an increase in raw material costs like steel. The stock came under heavy profit booking and closed 3.6% down in the day.

Shares of Laurus Labs spiked intraday as the company announced a net profit jump of 271% at Rs 272.8 crore from Rs 73.5 crore. Stock prices have nearly gone up by 4 times since last January.

Markets Ahead

With 5 days of losses in Nifty, Bank Nifty has stayed afloat above 30,000 for the day. And similarly, Nifty has closed above 13,800. This is giving me some hope to the fact that there might a slight confusion in the market if it actually needs to fall more. 

Again, let us watch out for how international markets are performing tonight. It is indeed not a happy sight when seeing every global market in the red. True recovery of smart money may only be seen when FIIs return into the market, and that will happen only when global markets stabilise. 

Again wondering, Domestic Institutional Investors are selling because of mass withdrawal from mutual fund schemes by retailers for pumping it into real estate and what not. So will DIIs start buying in large numbers anytime soon? Or is the market just going to keep on falling with DIIs keeping on ending up as net sellers?

Private Banks pulled back in the final hours of the day. We can discuss what a short squeeze is in the coming days, hopefully in the jargons section. Also hope you have seen what is happening in the Game Stop counter in the US. Nothing related to today’s market, but yea just a fun fact.

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

Today’s Market Summarised

Who can save Nifty now? Just the day after Republic Day celebrations, India’s financial markets have taken a huge dip and fallen below multiple supports.

After opening with a gap-down at 14,201, the first candle in Nifty beautifully took resistance at yesterday’s low. It continued this fall across the whole day, making lower highs and lower lows. Nifty even fell below 14,000 level without much effort. The index closed the day at 13,967, down 271 points or 1.91%.

Bank Nifty was also bearish, but fell much much more. After opening flat near yesterday’s close, it tried to go up and touched a high of 31,280. From there, it was honestly surprising to see how easy the index fell more than 1100 points from the day high to the day low. Bank Nifty closed the day at 30,284, down 913 points or 2.93%.

All indices except NIFTY FMCG closed in the red today. Last day it was Pharma who was in the green, and today even it has closed more than 2% down. IT managed to close nearly only 0.6% down.

Asian markets traded mixed, but generally are looking very flat. European markets are all in the red at the time of our market close.

News Picks

IT companies who fell during the last Nifty fall managed to stay in the green today. While heavyweights TCS and Infosys fell(along with Naukri who is seeing a LARGE correction), TechM and Wipro managed to close more than 2% up.

Insurance companies’ share went up with SBI Life up 2.19% and HDFC Life marginally up in a bearish market.

ITC being ITC went against the market and closed more than 1.35% up in the day. FMCG stocks including beverages companies UBL(up 4.22%) and McDowell-N(up 1.55%) went up in the day while Jubilant Foodworks fell 3%. 

Shares of Marico who were trading in the green all day till 2 pm fell SHARPLY ahead of the results announcement and gained back almost all losses just as fast. You have to open the charts to believe the volatility. The company announced a 13% year-on-year rise in profits to Rs 312 crores.

Shares of Hindustan Unilever fell till noon before slowly closing back in green. After market hours, the company announced that net profit is up 18.9% YoY to Rs 1921 crores, for Q3.

Last weeks outperformers, including Tata Motors and Hero Moto Corp featured in the top-losers section in Nifty 50 today.

Shares of Nifty heavyweight Reliance, fell more than 2.37% today. The stock pulled the Nifty 50 index down 39 points. Global ratings agency Macquarie had announced 12-month target price of Rs 1,350 per share for the stock, which saw a lot of fear being spread in the market.

Shares of HDFC Bank fell more than 3.64% as sell-off in financial stocks got even stronger than last many days. The stocks together pulled Nifty 50 down 53 points while pulling Bank Nifty down 310 points. 

HDFC also fell 3.31%. That means Reliance, HDFC and HDFC Bank alone pulled Nifty down by 130+ points in today’s 270 point fall.

Markets Ahead

Over the last 4 days, Nifty has fallen more than 750 points while Bank Nifty has fallen more than 2500 points. 

Smallcap stocks performed better today in the entire market space. The index ended up by 0.1% midcap index fell 1.6%.

What is a bit interesting to me is the thought of if markets are just in a “correction” phase or a falling phase. With over 10 stocks from the Nifty 50 closing in the green, there is clearly some buying interest left in the market. But in the cases of all previous sharp corrections, very few stocks would have closed in the green. Global markets are falling too, with Europe also in red. Maybe this is the actual fall everyone has been waiting for? 

Meanwhile, India’s capital city is also under a lot of international investor’s eyes as clashes between protesting farmers and Police erupted. Keep a watch of this situation along with the Central Govt’s official stand on the issue, and maybe even for the Prime Minister’s announcement.

The US Federal Reserve meeting is expected to not have a very positive outlook on the economy. Along with this, our budget announcement is awaited by Monday. Markets will remain cautious and may trade sideways with a bearish view as profits/losses are booked. 

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

Today’s Market Summarised

Another day, another fall. Nifty opened with a gap-up at 14,479 and started forming back to back red candles. What’s funny is that almost every stock, along with the indices had opened at their all-day highs and fell today. After trying to recover quite a few times, Nifty gave in and fell sharply after 1:30 pm and closed at 14,238, down 133 points or 1.33%.

Bank Nifty opened at 31,524 again with a gap-up and fell sharply to take support at 31,000. After flying back up 700 points, the index consolidated only to fall again after noon. Bank Nifty closed the day at 31,198, up 31 points or 0.1% today.

All indices except NIFTY PHARMA closed in the red. NIFTY PHARMA gained 1.7% whereas NIFTY ENERGY & NIFTY IT shed 2.8% and 1.7% respectively.

Asian markets mostly traded mixed. European markets are all in the red.

News Picks

GRASIM gained the most among NIFTY 50 after the company formally announced their entry to the paint sector. The stock was up by 6.55% at closing. On the contrary shares of a potential future competitor, Asian Paint fell by more than 3%.

Despite the index falling sharply, UPL continued its rally. UPL closed the day by gaining more than 3.7%. 

HDFC BANK is up by 1.3% and AXIS BANK is up by 2.1%. Both these stocks held up BANK NIFTY in the day. AXIS BANK rallied as the company is set to announce their Q3 results day after. HDFC Bank may soon see its ban on Digital 2.0 reversed. 

Kotak Bank witnessed a sharp fall with heavy volatility after the Q3 results were announced during market hours. Profit booking kicked in the stock even as the bank reported a 16% jump in net profit over a year earlier to Rs 1,853 crore. 

Shares of Reliance fell the most among Nifty 50 stocks, by falling over 5.3% just today. This was after the company announced its results on Friday after market hours. 

Apollo Tyres fell more than 8.8% as profit booking kicked into the stock.

Pharma stocks rallied on the expectation that the sector will benefit in the upcoming budget. Cipla gained mostly on the expectation of good results. I feel pharma companies with good exposure to Covid medicines would go up, while others might see corrections as results will disappoint.

Markets Ahead

With tomorrow being a holiday, markets were trading cautiously. The fall and consolidation were to be expected around the budget, after which it may be highly volatile. I do expect Nifty to give respect to 14,000 as key support and maybe bounce back up. But again, if this a global trend of falling markets, then we have to be prepared for further falls.

Are the bulls just waiting for their big move? Retailers selling and squaring off in the panic may result in greater fall, and this is when big players would come in and enjoy the discount sale. Keep watching for a stimulus from the US Government, which might push the market again into buying mode again. I would say, don’t keep a clear bearish view until the market falls below 14,000.

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

Today’s Market Summarised

A proper day of correction in Nifty. Markets falling calmly through the day with lower highs and lower lows. After opening at 14,590, Nifty tried to move up but could not. The trend was quite clear around 11 am, when Nifty broke its opening range. Nifty fell consistently to close near the day low at 14,371, down 218 points or 1.5%.

Bank Nifty who traded sideways yesterday, broke down in today’s market. After opening above 32,121, the index fell more than 1000 points over the day, and closed the day at 31,167, down 1,019 points, or 3.17%.

Even after Bank Nifty fell 3%, it was not the worst-performing sector of the day. Metals fell 3.89%, and Auto was up in the bear market 1.43%.

European markets fell today, with the Asian markets also in the red. It is definitely a global phenomenon. 

News Picks

Shares of Bajaj Auto jumped a further 10% today. They had announced a 23% Year-on-Year rise in net profits to Rs 1,560 crores last day. Shares of Eicher(manufacturer of Royal Enfield Bikes) also gained again. Hero MotoCorp gained 3.93%. 

Metals and Banks featured heavily among the top losers of the day. Asian Paints also fell after 3 days of rallies.

Shares of Biocon fell more than 10.9% over the day as net profits of the pharma company fell 19% YoY. Managing Director of the company stepped down following the results announcement. We had talked about Pharma companies maybe declaring disappointing results. Is this another indication?

Indigo Paints IPO is closing today with almost 100x subscription. Have you applied?

Shares of Bandhan Bank closed in the top-losers, down by 7% today, after results disappointed investors. 

Stocks which have over-rallied are the ones which have fell the most. Including SAIL, Bandhan Bank, RBL Bank and Asian Paints.

Markets Ahead

With global markets also correcting, is this the fall everyone has been waiting for? Or will Nifty shoot up like it did all the previous times! This is definitely a question that investors would be having in their head, as they decide on when to enter a stock and when to exit. 

One can never time the market, is what I believe. Even if it enters a sideways trend, or a bearish trend, or even jumps back up to new highs, there are only two things which can make you money. Either get into intelligent trades or invest with systematic investment plans(SIPs) where you keep on buying in dips. All traders need is a trending market, so enjoy it while it’s trending!

I have been buying a few units of Nifty BeEs every time the market falls. Even in intraday falls. Because I believe that the markets will go up in the long term. And you can never know for sure which stock would bounce back faster than others. So in the long term, I will be sitting on a LOT of Nifty BeEs, which would be averaged by every fall in the market. This is something which I follow and do, and might not work for you. But yes, long term and averaging in dips will save me that I am sure. Just food for thought.

Keep watching for global cues, and data and new policies from the US. This will greatly affect our markets in the week ahead. Have a chill weekend, and don’t forget to up your game in between.

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