Tag: NIFTY expiry

Categories
Daily Market Feed Post Market Analysis

Nifty Closes Below 19,000 On Monthly Expiry! – Post-Market Analysis

NIFTY started the day at 19,027 with a gap-down of 95 points.  Then, it fell sharply by 195 points to 18,850 levels. Post 11:30 AM, the index mostly consolidated in a nearly 70-point range. Nifty closed at 18,857, down by 264 points or 1.39%.

Nifty chart October 26 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 42,708 with a gap-down of 124 points.  Initially, the index crashed 610 points to 42,105. For the rest of the day, BNF traded in a 270-point zone (with a positive bias) to close at 42,280, down by 551 points or 1.29%.

Bank Nifty chart October 26 - post-market analysis | marketfeed

All major indices closed in the red. Nifty Metal (-1.6%), Nifty Auto (-1.59%), and FIN NIFTY (-1.57%) fell the most.

Major Asian markets closed in the red (Japan’s Nikkei fell 2.1%). European markets are currently trading up to 1% in the red.

Today’s Moves

Axis Bank (+1.7%) was NIFTY50’s top gainer. The lender reported a 10% YoY rise in net profit to ₹5,863 crore in Q2; beating street estimates.

Prism Johnson (+12.02%) jumped on the back of strong volumes.

Sonata Software (+8.2%) hit a 52-week high after the IT services provider announced its Q2 FY24 earnings.

Mahindra & Mahindra (-4.06%) was NIFTY50’s top loser. It fell amid huge selling pressure in auto stocks.

Bajaj Finance (-3.54%) and Bajaj Finserv (-3.16%) fell today. Bajaj Finserv Mutual Fund launched its banking and PSU fund today.

Delta Corp (-5.45%) fell sharply after yesterday’s strong up-move. The Bombay High Court provided interim relief to the company by retraining tax notices worth over ₹16,000 crore it received from the Directorate General of GST Intelligence (DGGI).

Markets Ahead

Nifty has fallen for the sixth straight session, its longest losing streak since February 2023! India VIX, a measure of market volatility, jumped by 10% on the monthly F&O  expiry day, signalling a sense of unease in our markets.

As long as Nifty stays below 19,000, we can expect bearish sentiments to continue, possibly reaching levels between 18,800 and 18,725. However, if the index manages to break through the 19,000 mark, there could be a small bounce back, potentially pushing it towards 19,100-19,150.

The Israel-Hamas conflict remains a significant challenge for geopolitical stability, which can impact global stock markets. Elevated US Treasury bond yields are also posing a major threat.

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Post Market Analysis

Key Indices Mimic Previous Movements Ahead of Expiry Day! – Post-Market Analysis

NIFTY started the day at 19,369 with a gap-down of 65 points. The index started moving up after the initial red candles and tried to break the previous day’s high with the help of a 3 PM move. Even though there were no follow-up candles, the index closed in slight green. Nifty closed at 19,465, up by 30 points or 0.16% 

Nifty chart - Aug 16 - post-market analysis

BANK NIFTY (BNF) started the day at 43,726 with a gap-down of 364 points. The index struggled a lot to recover as it faced strong rejection from the 44k zone. BNF closed at 43,946, down by 144 points or 0.33%. 

Bank Nifty chart - Aug 16 - post-market analysis

All other indices except Nifty Metal (-0.94%) closed in green. Nifty Media (+1.2%) and Nifty Realty (+1.1%) moved up the most. 

Major Asian markets closed in the red. European markets are currently trading flat-to-red.

Today’s Moves

Apollo Hospitals (+2.51%) was NIFTY50’s top gainer. The pharma company’s MD gave forward-looking commentary on its business on Monday.

Cochin Shipyard (+17.4%) hit a new 52-week high of ₹822 after posting strong Q1 results.

JBM Auto (+10.13%) jumped after the Union Cabinet approved ‘PM-eBus Sewa’ for boosting city bus operations.

Tata Steel (-1.86%) was NIFTY50’s top loser.

Hindustan Copper (-6.23%) fell sharply after the company posted weak numbers for Q1 FY24.

Markets Ahead

Key indices replicate Monday’s movements! After the opening red candle, both Nifty and Bank Nifty started moving up, similar to Monday.

Try to draw a trendline connecting tomorrow’s first two swing low points, and if this trendline is broken, it might bring a proper movement (if the initial trend is to the upside). You can also use a 200 exponential moving average (EMA) in the 5 mins chart to get more clarity.

Major weakness is being built up as both Nifty and Bank Nifty create lower lows and lower highs for more than a week.

I will be watching Nifty’s 19,500 (resistance), 19,360, 330, 300 (immediate support) and 19,250 (major support) tomorrow.

In Bank Nifty, let’s mark 44,100,44,200 (resistances) and 44,600 and 44,540 as major levels for expiry day.

Inflation (CPI) numbers have been a supporting factor for the Indian market for many months. Now, recently released above-expected inflation numbers are bringing more weakness to our market

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

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

Categories
Daily Market Feed Post Market Analysis

Nifty Hits Fresh All-Time High Above 19,500! – Post-Market Analysis

NIFTY started the day at 19,385 with a small gap-down of 12 points. The index showed strength right from the start, crossed the previous all-time high (ATH) and resistance zone of 19,440 levels and consolidated there for the most part of the day. It eventually gave a breakout after 2 PM and crossed 19,500 round levels. Nifty closed at 19,497, up by 98 points or 0.51%.

BANK NIFTY (BNF) started the day at 45,106 with a gap-down of 92 points (near the support zone of 45,000-100). Similar to Nifty, Bank Nifty moved up and faced multiple rejections from 45,400 zones. BNF closed at 45,339, up by 188 points or 0.42%.

All indices except Nifty IT (-0.12%) closed flat-to-green. Nifty Realty (+2.25%) and Nifty Media (+1.71%) moved up the most.

Major Asian markets closed deep in the red. European markets are currently trading over 1% in the red.

Today’s Moves

M&M (+4.98%) was NIFTY50’s top gainer.

Reliance (+2.1%) contributed most to NIFTY’s up-move today.

CEAT (+18.7%) surged to hit a 52-week high of ₹2,512.20. As per reports, today’s jump in tyre stocks can be related to the latest automobile launches in the premium segment.

Hindustan Zinc (+7.85%) moved up after the company said its board will meet on July 8 to consider and approve an interim dividend for FY24.

Eicher Motors (-2.65%) was NIFTY50’s top loser. The stock has fallen 11% since Monday after Harley Davidson and Triumph launched affordable bikes in the premium segment.

JBM Auto (-12.65%) crashed a day after BSE said it will replace HDFC in the BSE 500 index.

Markets Ahead

As mentioned in yesterday’s post-market report, Nifty could hit the 19,500 round level if the 19,440 resistance is crossed— and that happened today! In Bank Nifty, we said that 45,600 levels may be tested if the market sustains 45,000 zones. Today, the index went up till 45,400 zones and closed there.

NIFTY: The index has been moving with a lot of strength with the help of Reliance. Now, the major psychological resistance level is Nifty is the ATH (19,512) or the round level of 19,500. The immediate support to look out for will be 19,440 zones. If this support is breached, the index could come down to 19,350. If there’s a breakout, there would be no technical targets as it’s at an ATH. However, psychological targets could be 19,550 and 19,600.

BANK NIFTY: The index looks much weaker than Nifty. It is stuck in a zone between 45,400 and 45,100. A breakout or breakdown from these zones can give us targets of 44,700 on the downside and 45,600 on the upside.

Today’s weekly expiry was more or less easy with good premiums for option sellers as the calls were not spiking and puts were compensating well.

Meanwhile, Asian and European stock markets are experiencing a decline today as traders analysed the slow economic growth.

How did expiry trading go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Categories
Daily Market Feed Post Market Analysis

Nifty Closes Lower for 3rd Straight Session. SBI Falls 2% – Post-Market Analysis

NIFTY started the day at 18,287 with a gap-up of 105 points, exactly coinciding with the 50% rejection levels of Fibonacci from the recent high of 18,400 and the low made around 18,110 levels yesterday. 

The index fell right from the beginning. It made a double-top pattern near 18,250 and continued the fall to 18,100 levels (an important support zone from yesterday). NIFTY closed at 18,129, down by 51 points or 0.27%.

BANK NIFTY started the day at 44,006 with a gap-up of 308 points. It consolidated between 43,100 and 42,850 for most part of the day. In the second half, the index broke down from the consolidation and took support from the trendline it has been respecting since March 16. Bank Nifty closed at 43,752, up by 53 pts or 0.12%.

All indices except NIFTY Bank and NIFTY Finserv (+0.32%) closed in red. NIFTY Realty (-2.37%), NIFTY PSU Bank (-1.9%), and NIFTY Pharma (-1.2%) fell the most.

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

Today’s Moves

Bajaj Finance (+1.26%) was NIFTY50’s top gainer. 

Restaurant Brand Asia (+14.2%) surged amid media reports that various private-equity firms and Jubilant Foodworks are among entities in talks to buy Everstone’s stake in the company.

Honeywell Automation (+7.3%) jumped up to 9% intraday on heavy volumes following strong Q4 results.

Divi’s Labs (-3.5%) was NIFTY50’s top loser. 

ITC (-1.85%) fell even after the company reported a 23% YoY increase in net profit to Rs 5,175 crore in Q4 (beating street estimates).

SBIN (-2.06%) moved down today. The bank’s Q4 results exceeded analysts’ estimates.

GNFC (-8%) fell sharply even after revenue hit a record high in Q4 and the board declared its highest-ever dividend.

Markets Ahead

Nifty clearly seems to be more bearish and is at an important support zone of 18,050 – 100 levels. If this level is breached, we can expect the index to correct till 17,800 levels. On the upper side, 18,250-300 can act as resistance.

Bank Nifty (BNF) seems to be sideways and has been moving in a range. It has taken support from a long-term trendline. If BNF breaches the important support level of 43,650, re-tests, and continues the fall, we can expect the index to fall further to 43,400 and 43,000. On the other hand, 44,050 can act as immediate resistance, and if that level is breached, BNF could even cross its all-time high.

There was SBI results-induced volatility in our markets today. The fall in SBI and ITC shares added to the pressure on investors to book profits.

The European markets are trading higher as US debt ceiling talks make progress. President Joe Biden and congressional leaders are inching closer to a deal to raise the debt ceiling and avoid a default.

How was expiry trading? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Categories
Daily Market Feed Post Market Analysis

Consolidation Continues! – Post-Market Analysis

NIFTY started the day at 18,113 with a gap-down of 33 points. It was another pure consolidation day with Nifty moving within a tight range of 40 pts for most of the day. The 18,100 level acted as an intraday resistance multiple times. The index closed at 18,089, down by 57 pts or 0.32%.

BANK NIFTY started the day at 43,154 with a gap-down of 197 points. The index was trying to move up after the gap-down opening, with 43,110 as a support and 43,320 as a resistance. The index closed at 43,312, down by 39 pts or 0.09%

All indices except NIFTY FMCG (+0.78%), NIFTY Media (+0.28%), and NIFTY Realty (+0.28%) closed in red today. NIFTY IT (-1%) fell the most.

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

Today’s Moves

HUL (+1.4%) was NIFTY50’s top gainer after positive commentary from the FMCG company’s top management.

Asian Paints (+1.04%) moved up after crude oil prices hit a 5-week low overnight. (Crude oil is a key raw material for manufacturing paints)

Engineers India (+14.9%) surged today on the back of strong trading volumes. 

RVNL (+9.9%) continued its rally. The company was granted the ‘Navratna’ status by the Department of Public Enterprises earlier this week. The stock is up 26% in 3 days.

Adani Ent (-4.2%) was NIFTY50’s top loser. Adani Group stocks are in the headlines after Shah Dhandharia & Co (mentioned in Hindenburg Research’s report) resigned as the statutory auditor of Adani Total Gas.

Manappuram Finance (-12%) crashed after ED searches premises linked to the company and its promoter VP Nandakumar’s residence on money laundering charges.

Markets Ahead

Our Indian market is showing no major weakness now, but it is facing hurdles because of the banking sector crisis in the US market. 

The US Federal Reserve’s decision on interest rate hike will be out today at 11:30 PM. If everything is within expectations, we would have a consolidation expiry tomorrow.

You can watch two levels in Bank Nifty tomorrow- 42,940 and 43,550. We can expect a panic selling in Bank Nifty to 42,500 levels if 42,880 is broken.

If you check the volumes in major banks, it is very evident that big players were trying to keep Bank Nifty above 43k.

All eyes on US markets! If the US market closes with a good loss today and we open in the green tomorrow, then we can expect a clear fall during the first half.

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

Categories
Daily Market Feed Post Market Analysis

Nifty Closes Above 200-Day EMA Ahead of Interest Rate Decision Tmrw – Post-Market Analysis

NIFTY started the day at 17,422 with a small gap-up of 24 points. The index was completely in an uptrend mode, though it faced multiple intraday resistances. NIFTY closed at 17,558, up by 159 points or 0.91%. 

BANK NIFTY started the day at 40,972 with a gap-up of 159 points. The index moved close to 41,000 throughout the day. The index closed at 40,999, up by 186 pts or 0.46%.

NIFTY FMCG (+1.36%), NIFTY IT (+1.2%), and NIFTY Finserv (+1.1%) moved up the most. NIFTY PSU Bank (-0.79%) and NIFTY Auto (-0.55%) were the only indices that closed in the red.

Major Asian markets closed mixed. The German and French markets are currently trading in the red. UK’s FTSE 100 is in green.

Today’s Moves

LT (+4.04%) was NIFTY50’s top gainer. The company has secured multiple contracts worth more than Rs 7,000 crore in the Middle East region.

HDFC Bank (+2.6%) moved up as both advances and deposits grew at a rapid pace in the March quarter (Q4 FY23). HDFC also surged 2.93%.

Nykaa (+7.7%) rallied after 5.54 million shares worth Rs 75.5 crore exchanged hands in a block deal.

Auto stocks Ashok Leyland (-4.4%), Eicher Motors (-2.35%), M&M (-1.2%), and Maruti (-0.6%) moved down today.

PNB Housing Finance (-14.3%) crashed by nearly 18% on the record date (April 5) of its rights issue.

Markets Ahead

The RBI will announce its interest rate decision tomorrow at 10 AM.

A 25 bps is expected by the market, and if there is a change from this, the markets may turn volatile.

We can watch two resistance in Nifty tomorrow- 17,535 and 17655.

It will be very important to watch 41,120 levels in Bank Nifty after RBI updates. On the downside, the 40,550-600 zone can be considered.

Nifty’s and HDFC Bank’s structures look very bullish now, and I will be watching today’s highs. Keep in mind that Nifty has closed above the 200- Day EMA today, but is reaching the upper end of the downtrend channel.

Reliance is continuously testing the resistance trendline in the daily candle chart. Will it be a villain for Nifty or can a breakout be expected?

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

Categories
Daily Market Feed Post Market Analysis

Highly Volatile Expiry Day – Post-Market Analysis

NIFTY started the day at 16,994 with a gap-up of 22 points. The index was super volatile throughout the day. It moved down nearly 145 points to 16,850. It made higher lows but failed to withstand the resistance above 17,000. NIFTY closed the day at 16,985, up by 13 points or 0.08%. 

BANK NIFTY started the day at 39,061 with a gap-up of 10 points. After reaching the day low in the morning, the index moved nearly 2% to the day high. The index closed at 39,132, up by 81 pts or 0.21%.

NIFTY Media (+4.1%), NIFTY FMCG (+1.14%), and NIFTY Realty (+1.11%) closed well in green. NIFTY Metal (-2.58%) fell heavily today.

Major Asian markets closed in the red. European markets are currently trading ~1% up.

Today’s Moves

BPCL (+6.2%) was NIFTY50’s top gainer. Shares of oil marketing companies (OMCs) gained as global crude oil prices were trading at the lowest level in more than a year due to recent volatility in US and European markets, following fears of a global bank crisis.

Asian Paints (+2.5%) and Berger Paints (+2.2%) rose for the second straight day as crude oil prices fell. (Crude oil is a primary raw material for manufacturing paint.)

Zee Entertainment (+9.3%) surged as reports said the company will repay dues worth $10 million to IndusInd Bank. 

Zomato (+4.5%) shot up after it announced the liquidation of its subsidiary in Jordan.

Metal stocks fell heavily today. Shares of Welspun Corp, National Aluminium, JSW Steel, SAIL, Tata Steel, Jindal Steel & Hindalco closed 1.8-5.1% in the red.

Reliance Industries (-0.5%) touched a fresh 52-week low of ₹2,202 in intraday trade.

Markets Ahead

Nifty has reached the bottom part of the downtrend channel today and took support. I will be closely looking at the 16,750-800 support zone to find the market trend. 

In Bank Nifty, you can watch 37,900-38,000 levels as a support in the coming weeks. 

Today’s buying sentiments might be a trap for retailers, be alert!

Yesterday in the US, IT-powered NASDAQ closed without major losses. But our Nifty IT closed in the red today while major indices ended with small gains.

The SVB and Credit Suisse crises might go away soon as they are not directly linked to the Indian economy. In fact, Credit Suisse’s shares are 16% up on London Stock Exchange now. Let’s see how it moves in today’s U.S. market.

After breaking 2300 support, Reliance is showing super weakness. It might find support at the 2100 region and prepare for huge buying in the stock.

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

Categories
Daily Market Feed Post Market Analysis

Range-Bound Expiry Tomorrow? – Post-Market Analysis

NIFTY opened the day at 17,665 with a gap-down of 45 points. After taking support from yesterday’s close, there was a steady up-move of 160 points to close the day at 17,754, up by 42 points or 0.24%. 

BANK NIFTY started the day at 41,178 with a gap-down of 172 pts. It consolidated in a range of 150 points throughout the day, then gave a breakout of the consolidation zone, and also yesterday’s closing resistance to close at 41,577, up by 226 pts or 0.55%.

NIFTY Auto (+0.85%), NIFTY PSU Bank (+0.69%), NIFTY Media (+0.54%) moved up the most. NIFTY Realty (-0.68%), NIFTY Pharma (-0.49%) & NIFTY IT (-0.38%) closed in the red today.

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

Today’s Moves

IndusInd Bank (+4.79%) surged after reports suggested that RBI is likely to extend the private-sector lender’s CEO Sumant Kathpalia’s tenure by three years.

Shares of Adani Enterprises, Adani Ports, Adani Green, Adani Total Gas, and Adani Transmission closed 2.8-5% in the green. GQG Partners’ founder Rajiv Jain said his firm would likely expand its investment in the Adani Group.

HAL (+5.6%) moved up after India’s defence ministry signed a Rs 6,800-crore contract with the company to procure 70 basic trainer aircraft.

Bajaj Finance (-2.25%) was NIFTY50’s top loser. Ambit Capital said the company’s assets growth is likely to slow down and assigned a “Sell” rating to the stock.

Nykaa (-3.21%) fell after rating agency Macquarie said it sees a 23% downside in the stock and flagged profitability concerns.

Aptus Value Housing Finance Ltd (-6.04%) fell heavily after reports said Cholamandalam is planning a takeover of the company.

Markets Ahead

I loved today’s Nifty chart very much as it respected technicals well. It took good support from the 17,600 range, faced resistance from yesterday’s low around 17,700 and a beautiful breakout at 3 PM. I am expecting FIIs to be net buyers today.

ICICI Bank created a double-bottom breakout today. I will expect upside movements in the stock, even if it retraces back to 867 levels.

Bank Nifty had a very confusing chart setup today. It took support from 41,100 and bounced back. But it closed 120 pts away from the 41,700 resistance. Even if Bank Nifty breakout from these levels, watch how the large time frame candle reacts in the 41,800-42,000 zone.

As we discussed on Friday, I don’t expect a long breakout now as most market participants are very confused, and 17,800 will be a major resistance.

All set for expiry day tomorrow? What levels in NIFTY, BANK NIFTY will you be looking at? Let us know in the comments section of the marketfeed app!

Categories
Daily Market Feed Post Market Analysis

NIFTY Breaks Losing Streak. Metal Stocks Rally – Post-Market Analysis

NIFTY opened the day at 17,360 with a gap-up of 56 points. It was an up-trending day with lesser momentum. The index broke the 17,435 resistance zone towards the end. NIFTY closed the day at 17,450, up by 146 points or 0.85%. 

BANK NIFTY started the day at 40,473 with a gap-up of 204 pts. The index moved up and saw a small profit booking. But took support from 40,420 and showed strength again. The index closed at 40,698, up by 429 or 1.07%.

All sectoral indices closed in the green today. NIFTY Metal (+3.9%), NIFTY PSU Bank (+2.9%), NIFTY Media (+1.9%) & NIFTY IT (1.4%) showed strong gains.

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

Today’s Moves

Adani Group stocks have been rising since yesterday, with its flagship Adani Enterprises (+14.7%) leading from the front. The group is reportedly trying to build up investor confidence by raising funds from multiple sources to pay off its massive liabilities.

Metal stocks SAIL, Hindalco, Vedanta, Jindal Steel, and Welspun Corp ended 3-5% higher.

Deepak Nitrite (+2.6%) gained after the US imposed an anti-dumping duty on imports of Sodium Nitrite from India. [Sodium Nitrite is a flagship product of the company, for which it commands a market share of nearly 70% domestically].

Axis Bank (+2.49%) completed the acquisition of Citigroup’s India consumer business from Citibank N.A. and NBFC consumer business from Citicorp Finance (India) Ltd.

Britannia (-1.84%) was NIFTY50’s top loser. Meanwhile, PowerGrid (-1.5%) fell even after it secured an order to establish an inter-state transmission system in Gujarat.

Markets Ahead

Nifty taking a rest from nine consecutive red day candles is a relief.

Nifty is currently in a major resistance zone that contains 17,450, 17490, and 17,520 levels.

Two intraday support levels are ready for tomorrow: Bank Nifty’s 40,520 and Nifty’s 17,435.

HDFC is forming a good setup to bounce above 2700 levels.

February GST collection came out at Rs 1.5 lakh crore, up 12.9% compared to last year.

India’s manufacturing PMI slowed down to a 4-month low of 55.3 in February. It was higher than a Reuters poll expectation of 54.3.

Which levels are you looking out for in NIFTY/BANK NIFTY for expiry tomorrow? Let us know in the comments section of the marketfeed app!

Categories
Daily Market Feed Post Market Analysis

Bank Nifty at 40,000! Nifty Near Major Supports! – Post-Market Analysis

NIFTY opened the day at 17,574 with a gap-up of 20 points. After the opening fall, the index took support from the 17,450 zone and tried to recover. But Nifty couldn’t hold that recovery and closed the day at 17,511, down by 43 points or 0.25%. 

BANK NIFTY started the day at 39,983 with a gap-down of 12 pts. After the morning fall and recovery, the index faced strong resistance from the zone above 40,000. The index closed at 40,001, up by 5 points or 0.01%.

NIFTY Media (-1.77%) and NIFTY Realty (-1.78%) fell the most today. NIFTY FMCG (+0.26%), NIFTY Metal (+0.35%), and NIFTY PSU Bank (+0.53%) closed with gains.

Major Asian markets closed mixed. The German and French markets are trading in the green, while the UK markets are currently in the red.

Today’s Moves

Axis Bank (+1.3%) has enabled cross-border transactions in real-time via the UPI network.

Shares of GAIL (+2.6%) rose after a brokerage firm assigned a ‘BUY’ rating to the stock.

Finolex Cables (+7.9%) hit its 52-week high of ₹720 today.

Shipping Corporation of India (+10.75%) gained as the govt approved the demerger of its core and non-core assets.

Asian Paints (-3.2%) was NIFTY50’s top loser. 

ZEEL (-3.7%) fell sharply after the National Company Law Tribunal (NCLT) admitted the company into the corporate insolvency resolution process.

Markets Ahead

We have three major supports to watch in Nifty: 17,490, 17,445, and 17,350.

If today’s low of 17,490 is broken, there could be another fall.

Bank Nifty is testing the 40,000 resistance level now. On the downside, we should watch the 39,400-600 zone as support.

India’s Finance Ministry said that inflation would fall in the second half of the current year on account of measures by RBI.

How was expiry day for you? Let us know in the comments section of the marketfeed app!

Categories
Daily Market Feed Post Market Analysis

NIFTY Ends Flat on Expiry Day – Post-Market Analysis

post-market analysis | marketfeed

NIFTY opened the day at 18,094 with a gap-up of 78 points. Throughout the first half, Nifty was consolidating in a 50-point zone. Then, it gave a breakdown at around 12 PM and moved down slowly to close the day at 18,035, up by 20 points or 0.11%. 

BANK NIFTY started the day at 41,925 with a gap-up of 170 pts. Similar to Nifty, Bank Nifty also traded within a tight range of 130 points. In the second half, Bank Nifty broke down and gradually moved down by 99 points or 0.24% to close at 41,631.

Nifty IT (+1.6%), Nifty Realty (+1.3%), and Nifty Metal (+1.2%) closed well in the green. Nifty Finserv (-0.26%) and NIFTY Auto (-0.22%) fell the most today.

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

Today’s Moves

ONGC (+5.7%) surged after posting strong Q3 results yesterday. Major brokerages said they are bullish on the stock.

TechM (+5.5%) is up more than 11% in 2 days, and at a 2.5-month high.

HAL (+7.3%) has signed multiple agreements with domestic & international entities at the Aero-India 2023 over the past few days.

PI Industries (+8.17%) has extended its rally. The stock has soared <12% in two days on the back of a better growth outlook.

Adani Trans (-4.8%) and ATGL (-5%) fell today as well. Adani Power’s (+4.9%) ₹7,000 crore deal to buy DB Power assets has failed.

IndiGo (-4.4%) declined after shares worth ₹3,221 crore changed hands in a block deal.

Vodafone Idea’s (-3.2%) loss widened by 10% to ₹7,990 crore in Q3.

Markets Ahead

NIFTY near 18,000 round level and Bank Nifty near 41,500 can act as good psychological as well technical support. Bank Nifty gave a break out of the long consolidation zone and level of 41,700 and Nifty close above 18,000 is a good sign.

For a further up move, NIFTY has to break out of the 18,200 crucial resistance and Bank Nifty has to cross the 42,000 resistance zone, then bullishness can be confirmed and a further up move can be expected.

How was expiry day for you? Let us know in the comments section of the marketfeed app!