Tag: nifty next

Last Week

NIFTY opened the week with a gap-up at 17,393 and had a rather bullish close on Monday. The index continued the rally on Tuesday and Wednesday. However, the FED minutes forced NIFTY to open with a huge gap-down on Thursday and the index closed below 17,750. There was recovery on Friday and the NIFTY closed the week at 17,813, up 459 points or 2.64% on a week to week basis.

BANK NIFTY had a very bullish week after opening with a gap-up at 35,612. The index closed just below 36,500 on Monday and continued the rally until global negativity led to a gap-down opening on Thursday. However, BANK NIFTY tried to recover towards the close on Thursday and moved up on Friday before profit-booking by DIIs brought the index down to a close at 37,740, up 2,258 points or 6.36%.

There was profit-booking in NIFTY IT, owing to the recent rally and global sell-off in tech stocks. Hong Kong’s Tech index is at its lowest since May 2020.

Midcap and Small cap stocks followed the general trend.

Foreign Institutional Investors net bought shares worth 1,000 crores last week. Domestic Institutional Investors net bought shares worth 3,300  crores.

The Manufacturing PMI was 55.5, which is expansion but at a slower pace. The Services PMI also was lower, at 55.5 and fell short of expectations.

The US markets had a bearish week. NASDAQ was the most affected index. The European markets were not as bearish as the US market but looked tired. However, FTSE had a good week. DOW JONES closed flat and FTSE closed in the green on Friday which is a positive indication. 

The Fed Minutes on Wednesday gave a pause to the rally in the US markets. The Minutes indicated that the interest rates will be hiked much earlier than expected. This led to a fall in the US market on Wednesday and this impacted the markets worldwide on Thursday.

Oil prices increased on supply worries as Kazhakstan is seeing an uprise. Also, there is a fall in output from Libya.

The US bond yields have gone up to 1.76%. 

Week Ahead

NIFTY has supports at  17,800, 17,725, 17,700, 17,650, 17,600, 17,550, 17,500, 17,400, 17,325.  We can expect resistances at 17,850, 17,900, 17,950, 18,000 and 18,040, 18,100, 18,200.

Nifty has the highest call OI build up at 18,000.

The highest put OI build up is at 17,500.

BANK NIFTY has supports at 37,700, 37,500, 37,300, 37,200, 37,000 and 36,900. and resistances at 37,800, 38,000, 38,100, 38,350, 38,500, 38,800 and 39,000.

The highest call OI build-up is at 38,000 and the highest put OI Build-up is at 37,000.

There will be no nationwide lockdown and this is a relief for the market. However, statewide restrictions will be imposed as the cases are rising.

DIIs were net sellers on Friday and this is happening after a very long gap. However, the quantity is little and both DIIs and FIIs were net buyers last week. This gives confidence to the bulls. 

We have results of large-cap stocks coming up this week starting with IT stocks on Wednesday. Infosys, TCS and Wipro results will be announced on Wednesday and HCL Tech results will be announced on Friday. HDFC Bank will announce the results on Saturday.

CPI Inflation for December will be announced on Wednesday in the evening. The industrial output data also will be out on the same day. Looking at global cues, we have inflation data to be released by USA and China on Wednesday.

BANK NIFTY had a fantastic week with a rally of over 2000 points and the index has to be closely watched this week. If banks continue their momentum, NIFTY can break the hurdle of 18,000 which has the largest call OI build-up. Reliance and TCS will have to stay strong as they did last week to help NIFTY to attain a close above 18,000 this week.

Do you think that Banks will be able to take NIFTY above 18,000 this week? Let us know in the comments section below.

Last Week

NIFTY opened the week with a huge gap-down at 16,840 and started falling on Monday due to Omicron worries. Support was taken at 16,410 and moved up on Tuesday, Wednesday and Thursday with intermittent profit booking. 17,000 was crossed in a gap-up opening on Thursday but the index faced stiff resistance at 17,100. NIFTY opened with a gap-up on Friday but selling kicked in and the index closed the week at 17,004, up 19 points or 0.11% on a week-to-week basis. 

BANK NIFTY had a rather bearish week, opening with a huge gap-down at 35,226 followed by a fall up to 34,000. The index took resistance at 35,000 multiple times and finally broke the level on Wednesday towards the close. BANK NIFTY tested 35,500 on Thursday but failed. The index moved down below 34,600 on Friday and finally closed the week at 34,857, down 762 points or 2.14% on a week-to-week basis.

NIFTY IT moved up by 2.95%. NIFTY MEDIA went down by 1.54% whereas other sectors consolidated. 

Movement in Midcap and Small-cap stocks was similar to the large-cap stocks.

Foreign Institutional Investors have net sold shares worth 33,000 crores this month. Domestic Institutional Investors net bought shares worth 27,000 crores.

The US markets too fell on Monday but recovered the fall and moved even higher to close the week well in the green. S&P 500 is only a few points below the all-time high.

The European markets also recovered the fall by Thursday. It was a four-day week for most of the markets.

A letter by the Centre to the states on Wednesday said that Omicron is at least three times more transmissible than the Delta variant. However, the Omicron worries have eased now.

WEEK AHEAD

NIFTY has supports at 17,000, 16,900, 16,820 and 16,770.  We can expect resistances at 17,100, 17,200, 17,250 and 17,325.

Nifty has the highest call OI build up at 17,500 followed by 17,200. 

The highest put OI build up is at 16,500, followed by 17,000.

BANK NIFTY has supports at 34,800, 34,600, 34,400 and 34,000 and resistances at 35,230, 35,330, 35,530, 35,700 and 36,000.

The highest call OI build-up is at 36,000 and the highest put OI Build-up is at 34,000.

The Omicron worries have eased now and the UK Government scientists said that Omicron has milder symptoms than the Delta variant. 

We had no global market cues during the market hours on Friday as it was the Christmas holidays. Let us watch how US futures perform in the morning along with the Asian Markets. 

Domestic Institutional Investors turned out to be net sellers on Friday after a long time. But the figure is low, standing at Rs 42 crores. FII selling is still a concern for the investors. 

NIFTY was able to close above 17,000 despite the fall on Monday and FII selling that is challenging the market since the beginning of the month. However BANK NIFTY does not look strong enough to move higher. The index is not much higher than the Pre-Covid level.  If there is enough support by BNF, there is chance for the market to cross 17,300. 

Will NIFTY touch 16,700 or 17,300 first? Let us know in the comments section below.

Last Week

Markets recovered after a heavy sell-off on Monday and closed near the month’s high.

NIFTY opened the week nearly flat at 17,209 and fell more than 200 points. But the index gained back over the course of the next 4 trading days, and NIFTY closed the week at 17,511, up 309 points or 1.7% for the week. 

BANK NIFTY also followed a similar pattern. The index opened on Monday at 36,252 and fell. After moving down below 36,000 on Monday, the index moved back up and closed above 37,100 on Friday. BANK NIFTY closed the week at 37,105, up 857 points or 2.37% from Monday’s opening.

NIFTY Metal closed 5% up and NIFTY Media was 9% up. Smallcap index outperformed the market.

Many stocks including BSE, IEX, CDSL and Reliance’s media stocks including TV18 Broadcast saw heavy buying in the week.

Foreign Institutional Investors(FIIs) have net sold again for Rs 9,200 crores worth of equity shares in the week. Domestic institutional investors(DIIs) net bought Rs 7,200 crores worth of shares during the week. 

Week Ahead

Inflation in the U.S. rose at the highest rate since 1982 at 6.2%. However, the markets there did not react very negatively to this data.

India’s Consumer Price inflation data is coming out tomorrow and wholesale data on Wednesday.

There are four IPOs lined up this week: Medplus Health Services, Data Patterns, HP Adhesives and Supriya Lifescience.

SGX Nifty closed in the green yesterday, at 16,625.

NIFTY has supports at: 17,500, 17,400, 17,325, and 17,200. There are resistances at  17,550, 17,600, 17,750 and 17,800.

BANK NIFTY has supports at 37,000, 36,850, 36,650, 36,500, 36,250, 36,000.. Immediate resistances to watch out are 37,250, 37,400, 37,500, 37,800, 38,000.

In NIFTY, the highest call OI build-up at 18,000, followed by 17,500.

The highest put OI build-up is at 17,400, followed by 17,200.

The highest call OI build-up is at 38,000 and the highest put OI Build-up is at 37,000 (At The Money).

Foreign Institutional Investors(FIIs) are selling more and more. But we are still seeing Domestic Institutional Investors buying. The level of 37,000 looks to be a good support for the Bank Nifty index. Looking for NIFTY to consolidate between 17,200 and 17,600 and if moving beyond this zone we might see more movements. What do you think? Let us know in the comments section down below!

Last Week

Markets continued their sell-off, this week with newfound power over fears of a mutation of the Covid-19 virus.

NIFTY opened the week nearly flat at 17,796 and fell sharply on Monday. In the next three days, the market showed signs of stabilising. But Friday saw another big crash. NIFTY closed the week at 17,026, down 770 points or 4.32% for the week. 

BANK NIFTY also followed the rest of the market by falling. The index opened on Monday with a small gap-up at 38,232 and fell. When everyone thought support would be found at the 37k mark, the index opened below it on Friday and crashed further. BANK NIFTY closed the week at 36,025, down 2195 points or 5.74% from Monday’s opening.

All sectoral indices except NIFTY PHARMA which was boosted by the Covid fear. NIFTY AUTO(-8.5%) was the most affected sector. 

Midcap and smallcap stocks also suffered in the week, even though smallcap index fell less than the midcap and large-cap indices. 

Reliance showed strength and closed in the green for the week with the 6% jump on Thursday.

Our markets and other global peers fell sharply after new restrictions were announced by governments in reaction to the new virus mutation. You can read more about the fall here.

Oil prices saw a sharp fall on Friday and are down nearly 10% this week. WTI Crude prices are at $68/barrel, a 20% fall in two weeks.

Foreign Institutional Investors(FIIs) have net sold a heavy Rs 21,000 crores worth of equity shares in the week. Domestic institutional investors(DIIs) could not keep up but bought Rs 11,000 crores worth of shares during the week. 

Week Ahead

Countries have started banning flight services from the affected regions including Botswana, South Africa and Hong Kong. But it is too early to conclude that the new variant will have adverse impacts as the world worries.

In between all this, if the U.S. Federal Reserve reduce economic support at a faster rate, FIIs would sell more as they are doing now. Money may also fall to Chinese markets as there is an expectation that the government there may ease policies.

There are three IPOs lined up this week: Go Fashion, Star Health(backed by Rakesh Jhunjhunwala) and Tega Industries. Will be interesting to see how they perform in the bearish market scenario.

SGX Nifty closed in the red yesterday, at 16,882.

NIFTY has supports at Supports: 16,915, 16,880, 16,850, 16,720, 16,610, and 16,500. There are resistances at 17,100, 17,200, 17,325 and 17,450.

BANK NIFTY has supports at 36,000, 35,700, 35,500, 35,300 and 35,000. Immediate resistances to watch out are 36,500, 36,650, 36,800 and 37,000.

In NIFTY, open interest data for the monthly options indicate heavy call buildups everywhere, indicating bearishness. There is high call option writings at 17,500 and the largest put option writing is at 17,000. 

The highest call OI build-up is at 37,000 and the highest put OI Build-up is at 35,000.

Current technical analysis indicates support at 17,000 with Fibonacci Retracement level here. The next support at 16,700 will be at the 10% fall mark from all-time highs for NIFTY.

Foreign Institutional Investors(FIIs) continue to be heavy sellers. Most European countries have expanded Covid-19 booster vaccination shots and tightened restrictions overnight. How do you think NIFTY will open tomorrow morning? Let us know in the comments section down below!

Last Week

Markets failed to hold gains from the previous week and saw selling pressure on the 4-day trading week.

NIFTY opened the week slightly higher at 18,140 and fell on Monday. Interestingly, on all four days of the short trading week, the market fell after opening. By the last day of the week, NIFTY took support near November’s low of 17,900. NIFTY closed the week at 17,764, down 376 or 2.07% for the week. 

BANK NIFTY continued its second straight week of decline. The index opened on Monday with a small gap-up at 38,849 and fell for all days of the week. BANK NIFTY took support at the all-time high from February budget week at 37,750 and closed the week at 37,976, down 874 points or 2.24% from Monday’s opening.

NIFTY AUTO and FMCG consolidated in the week. All major sectoral indices fell. Metals have taken a blow, moving down by more than 5%.

Reliance fell more than 4% in the week and reached its support zone of 2,450. The top 4 private banks – HDFC Bank, ICICI Bank, Kotak Bank and Axis Bank are looking weak. SBI is trying to show strength along with other smaller PSU Banks.

PayTM saw heavy selling after getting listed on the market at a discount on Thursday. The stock is now overall nearly 27% from its IPO price.

Oil prices saw a correction sharply in the week with the Brent Crude Futures falling below $80/barrel. There has been a fall of nearly 11% in the last 11 days in US Oil prices.

There were new COVID restrictions in Europe after a fresh rise in cases, followed by riots against the same in the Netherlands. FTSE is down, however, the indices from France and Germany closed up for the week. 

Foreign Institutional Investors(FIIs) have net sold Rs 4,411 crore worth of equity shares in the week. But Domestic institutional investors(DIIs) kept up again and bought Rs 3,927 crores worth of shares during the week. For this month, FIIs have net sold nearly Rs 10,000 crores while DIIs have net bought for nearly the same amount.

Week Ahead

One major news that came out over the weekend is that Reliance and Saudi Aramco have withdrawn themselves from the potential deal in an O2C business. Reliance also withdrew the proposal filed before the National Company Law Tribunal (NCLT) to separate O2C business from the company.

This means that there will be no investment from Saudi Aramco into Reliance, which would have been the largest inbound investment in the Indian company’s history.

The controversial Farm Laws have been repealed after protests, ahead of the upcoming state elections. Let’s see how FMCG reacts as they were supposed to receive PLI upon enactment. 

It is the monthly expiry of Futures and Options in the Indian market this Thursday, and we may get to see volatile trading sessions.

Energy supply concerns ahead of winter in Europe.

SGX Nifty closed in the red yesterday, at 17,678.

NIFTY has supports at 17,750, 17,690, 17,500 and 17,375. There are resistances at 17,800, 17880, 17,950 and 18,000. 

BANK NIFTY has supports at 37,750, 37,500, 37,350, 37,000 and 36,500. Immediate resistances to watch out are 38,000, 38,350, 38,500 and 39,000.

The open interest data for the monthly options indicate that NIFTY might trade between 17,500 and 18,000 this week. A move outside this zone might trigger more movement in that direction. 

Bank Nifty data indicates consolidation around the 38,000 mark with a volatile week ahead.

Foreign Institutional Investors(FIIs) selling has sold heavily for almost all months since April this year. This does not give any confidence for the market which is now searching for a reason to take support and move back up.

Can BANK NIFTY take support at its Budget Week Highs? Will Relinace see a huge gap-down opening with news of the Saudi Aramco deal called off or has it already been factored in? Let us know what you think in the comments section of the marketfeed app.

Last Week

Bulls of Dalal Street continued to keep a tight grip on the market for a second week, preventing falls in NIFTY.

NIFTY opened the week with a gap-up at 18,040 and fell heavily on Monday. This was gained back intraday and the market moved higher but fell on the next three days of the week. On Friday, bulls helped NIFTY to touch the weekly high and close with gains. NIFTY ended the week at 18,102, up 62 points or 0.3% from Monday’s opening. 

BANK NIFTY was highly bearish for the week. The index opened on Monday with a small gap-up at 39,674 and fell for the first four days of the week. After taking support at 38,350 level on Thursday, BANK NIFTY bounced back to close the week at 38,733, down 991 points or 2.21% from Monday’s opening.

IT, energy and Auto stocks did well in the market last week while Banks and Pharma stocks fell. Adani stocks did well in the market with Adani Enterprises hitting a 52-week high.

Nykaa was listed with good listing gains and moved up further, now more than 100% up from its IPO price with a market capitalisation of more than Rs 1.1 lakh crores. PayTM IPO was completely subscribed last week and will be listed on the market by Thursday.

U.S. Inflation data came out at the highest rate since 1990, signalling that the Federal Reserve would soon be forced to increase interest rates.

IndusInd Bank opened with a big gap-down and continued falling with complaints from an insider group. You can read more about it here.

Foreign Institutional Investors(FIIs) have net sold Rs 4,901 crore worth of equity shares in the week. But Domestic institutional investors(DIIs) kept up and net bought Rs 5393 crores worth of shares during the week. 

Week Ahead

Major corporate results from NIFTY 50 companies are now over. This Monday, our markets will react to the Q2 results from Hero MotoCorp, Grasim, Coal India, and ONGC published last day.

India’s retail inflation rate came out on Friday after market hours, and the numbers increased slightly to 4.48% in the month of October. It was 4.35% in September this year, and 7.6% in October last year.

Separately, factory output increased by 3.1% in September as measured by the Index of Industrial Production(IIP).

Listing of PB Fintech (operator of Policybazaar and Paisabazaar) will be on 15 November, Monday. The IPO was 16 times oversubscribed and is expected to open with a listing gain.

Energy supply concerns ahead of winter in Europe. I feel that there can be another round of strength in the Energy stocks in our market. Keep an eye out on heavyweights including Reliance and midcaps.

SGX Nifty closed in the green yesterday, at 18,173.50.

NIFTY has supports at 18,050, 18,000, 17,950, 17,880, 17,835, and 17,800.There are resistances at 18,175, 18,230, 18,320, 18,400, 18,500 and 18,600. Expecting a wild market with moves between 17,800-18,500 this week.

BANK NIFTY has supports at 38,600, 38,500, 38,350, 38100 and 38,000. Immediate resistances to watch out are 38,900, 39,000, 39,300, 39,500, 39,750 and 40,000.

On Friday, NIFTY had its largest call OI at the 18k mark. Once this was broken, we saw a rally in the index. Similarly in BANK NIFTY, the largest call OI is at 39,000 while the largest put OI is at 38,500. If there is a move breaking any of these levels, we can expect a more significant trend to that side.

What do you think will happen to Nifty and Bank Nifty this week? Can Banks recover from last week’s 2%+ fall? Let us know what you think in the comments section of the marketfeed app.

Last Week

NIFTY opened the week with a gap-up at 17,788 and started moving up. Though the index tried to break 18,000, it fell by some points on Tuesday, only to open with a gap-up on the next day. But Nifty failed to sustain the gap-up and fell below 17,800. As always, SBI results made the market volatile towards the end of the day taking NIFTY to expire at 17,830. 

There was one hour of Muhurat trading on Thursday, where the index opened with a gap-up and the short week ended at 17,917, up 129 points or 0.73% from Monday’s opening. Otherwise, it was just a 3-day week for the Indian markets due to Diwali.

BANK NIFTY opened on Monday with a gap-up at 39,446, followed by an initial down move. The index started its up move and tried to break 40,000 multiple times. But the momentum could not be sustained, and BANK NIFTY fell on Wednesday. There was volatility following SBI results. BANK NIFTY closed the week after Muhurat trading at 39,574, up 128 points or 0.32% from Monday’s opening.

All the major sectors saw a recovery in the last week.

Foreign Institutional Investors(FIIs) have net sold Rs 687 crore worth of equity shares in the week. Domestic institutional investors(DIIs) net bought Rs 344 crores worth of shares during the week. The figures are much lower than what we saw last week where there was a huge sell off by FIIs.

Week Ahead

The Global markets look rather positive, with benchmark indices creating all-time highs.

Even this week, multiple companies including 8 from NIFTY 50 are announcing results – 

Britannia Industries, Mahindra & Mahindra, Tata Steel, Coal India, Grasim Industries, Hero MotoCorp, Hindalco Industries and ONGC.

Also, Zomato will be announcing its results this week.

The U.S. Federal Reserve Policy meeting turned out to be a non-event as the outcome was in line with the expectations: Bond purchases to be slowly brought down by $15 billion per month, starting this month. Currently, the Fed purchases $120 Billion worth of bonds every month.

Inflation data for October can be watched as the world is concerned about global supply crunch. Also, Industrial output data for September will be released this week.

The highest call OI stands at 18,000 followed by 18,300. The highest Put OI build up is at 17,800, followed by 17,500.

SGX Nifty closed in the green yesterday, at 17,968.

India VIX, which measures the expected volatility in the market, decreased to 15.75. 

NIFTY has supports at 17,880, 17,835, 17,800, 17,750, 17,710, 17,650 and 17,610. There are resistances at 17,950, 18,000, 18,175, 18,250, 18,320 and 18,400.

BANK NIFTY has supports at 39,500, 39,300, 39,000, 38,900 and 38,780. Resistances to watch out are 39,750, 40,000, 40,175, 40,400 and 40,500.

There is very little possibility that NIFTY will go below 17,600 this week. If the index opens with a gap-up tomorrow, whether NIFTY succeeds in sustaining above 18,050 or not will be crucial for the rest of the month.

What do you think will happen to Nifty this week? Will the index cross and sustain above 18,000? Or will we see profit booking? Let us know what you think in the comments section of the marketfeed app.

Last Week

The first three days of the week opened with gap-ups but Thursday and Friday saw heavy profit booking. The largest weekly fall in the last 8 months for NIFTY.

NIFTY opened the week with a gap-up at 18,229 and even went below the 18k mark intraday and bounced back. From Monday’s low, it moved up 370 points to Wednesday’s high. On Thursday and Friday, it was heavy selling in the market.

On Friday, NIFTY ended the week at 17,671, down 560 points or 3.07% from Monday’s opening.

BANK NIFTY opened on Monday with a big gap-up at 40,961 continuing last week’s power. It touched an all-time high above 41,800 and fell more than 3,400 points from there to Friday’s low. BANK NIFTY closed the week at 39,115, down 1,850 points or 4.5% from Monday’s opening.

Private banks led the heavy profit booking, with ICICI Bank being an exception after opening with a huge gap-up on Monday.

All sectoral indices closed in the red, with Private Banks IT, metal and realty indices falling heavily. Unlike last week, NIFTY Midcap and Smallcap did not fall as much as NIFTY.

Foreign Institutional Investors(FIIs) have net sold Rs 15,700 crore worth of equity shares in the week. Domestic institutional investors(DIIs) net bought Rs 9,427 crores worth of shares during the week. With this, FIIs have sold more than Rs 25,572 crores to date this month while DIIs net bought just Rs 4,500 crores.

Week Ahead

Markets in the U.S including Dow Jones and S&P 500 are trading at their all-time highs, with a rally last week.

Even this week, multiple companies including 6 from NIFTY 50 are announcing results – HDFC, Tata Motors, Bharti Airtel, State Bank of India, Sun Pharma, Eicher Motors and Divis Laboratories.

The U.S. Federal Reserve Policy meeting is scheduled to be held on November 2-3, should be watched out for because there is a possibility of the beginning of lower economic support in mid-November.

As the month starts, we will see multiple economic data from India also coming out. In the first week, we can expect auto sales data and corresponding volatility in those stocks.

The highest call OI stands at 18,000 followed by 19,000 and 18,500. There is once again low put buildup across the market with Highest Put OI at 17,500 followed by 17,000.

SGX Nifty closed below 17,814 yesterday, in the green from yesterday.

India VIX, which measures the expected volatility in the market, decreased by 5% this week.

The index has now shown bearishness in the weekly and monthly charts. Even the NIFTY Smallcap and Midcap indices have formed a huge wick if you look at the monthly charts. In case the next candle closes below this current monthly candle, we can expect a bearish market going ahead.

There is a 50-day moving average in NIFTY around Friday’s low. So we can take a candle closing under 17,600 would indicate bearishness. The 18,000 mark could act as a good resistance even with the expected gap-up opening tomorrow.

BANK NIFTY has supports at 39,000, 38,900, 38,780, 38,600 and 38500. Resistances are 39300, 39500, 39,750 and 40,000.

The November Future for NIFTY data shows that fewer contracts have been rolled over from last month, which is relatively low in comparison with the last couple of months. The level to watch for bullishness is the all-time high for the index.

What do you think will happen to Nifty this week? Will we see a bounce back from the moving average levels? Or will we see further profit booking? Let us know what you think in the comments section of the marketfeed app.

Last Week

The week gone by was one of intense profit booking in the market.

NIFTY opened the week with a big gap-up at 18,500 and formed a red candle. On Tuesday, the index opened at 18,600 but fell again. In fact, all 5 days of the week saw gap-ups and then a fall.

On Friday, the market tried to take support near Thursday’s lows and Nifty closed the day at 18,114, down 384 points or 2.08% from Monday’s opening.

Bank Nifty however showed strength throughout the whole week. The index opened at 39,800 on Monday and saw profit booking in the first 3 days of the week. On Thursday and Friday, the indices made strong green candles and closed at fresh all-time highs. Bank Nifty closed the week at 40,323, up 293 points or 0.73%.

Kotak Bank, ICICI Bank and HDFC were among the ones which kept NIFTY from falling below the 18k mark in the week.

All sectoral indices except Bank Nifty closed in the red for this week. Metal, FMCG, Pharma and Realty indices closed with losses of more than 5% this week.

The Midcap and Smallcap indices in NIFTY also saw selling, with both of them falling between 4-5%.

Over the week, many stocks announced their results and there were many stock specific movements. As an example, we can look at Federal Bank which rallied more than 10% in the week.

Chemical stocks, IRCTC, IEX and other stocks which were trending in the previous weeks fell sharply.

Foreign Institutional Investors(FIIs) have net sold Rs 7,353 crore worth of equity shares in the week. Domestic institutional investors(DIIs) also net sold Rs 4,504 crores worth of shares during the week. With this, FIIs have sold more than Rs 10,000 crores to date this month.

Week Ahead

Markets in the U.S including Dow Jones and S&P 500 are trading near their all-time highs, with NASDAQ still a bit far from this mark.

On Monday, the market will first react to results from Reliance and ICICI Bank. Reliance Q2FY22 results showed net profit jumped 11% YoY to Rs 13,680 crores, beating street estimates. Do check out this article to see an in-depth analysis of Reliance Q2 results.

ICICI Bank‘s 30% YoY jump in net profit also beat Street estimates by a big margin.

Asian Paints reported nearly a 30% YoY fall in net profits blaming it on inflation and rising crude oil prices.

20 companies from NIFTY 50, for a total weightage of more than 25% are set to announce their results this week including Kotak Bank, Axis Bank and L&T.

The highest call OI stands at 18,200 followed by good call writing in 18,300, 18,400 and 18,500. There is low put buildup in the market with Highest Put OI is at 18,000 followed by 18,500.

The oil prices in the international markets are going up again with Brent crude futures hitting a fresh three-year high of $86.10. Coal and gas prices also continue to move up.

SGX Nifty closed below 18,152 yesterday, slightly in the green.

India VIX, which measures the expected volatility in the market, increased by 11.29% this week.

If you plot a channel in NIFTY from late July, you can see that the index has now taken support at the lower level of this channel. If the market bounces back, the resistances to watch out in Nifty would be 18,300, 18,450 and 18,600 on the way up.  

On the lower side, the first support zone to be watched out for is at 18,000, and then at 17,900 and 17,680.

There are also two IPOs this week Nykaa and Fino Payments Bank, which we will surely be covering.

What do you think will happen to Nifty this week? Will we see support taken at 18,000 or further profit booking? Let us know what you think in the comments section of the marketfeed app.

Last Week

Nifty jumped up over the last 5 days, gaining back losses from the last week.

NIFTY opened the week with a small gap-up at 17,615 and reached 17,885 by Wednesday. There was a big fall on Wednesday after which Thursday and Friday saw recovery. By Friday, the index touched an all-time high and closed at 17,895, up 290 points or 1.64%. If we include Monday’s gap-up, it was a more than 360 points gain in the week.

The Wednesday fall was sponsored by gas prices in Europe sharply moving up, causing concerns of inflation. This was temporarily solved by Russian President Vladimir Putin promising increased gas supplies to Europe.

Bank Nifty opened at 37,392 and moved up consistently even with the Wednesday fall. The level of 38,000 was not broken, and the index closed at 37,775, up 380 points or 1% from Monday’s opening.

Reliance was a big mover in the week along with IT and Auto stocks. Financials also slowly moved up while FMCG saw profit booking.

Nifty IT moved up in the week, taking good support ahead of the Q2 results season. TCS result was announced on Friday after market hours.

TCS results were better than market expectations, with a ​​9% year-on-year growth in its consolidated net profit for the September quarter to Rs 9,624 crores. Shares of the company had hit their 52-week highs on Friday.

Auto stocks saw heavy buying in the week with Tata Motors reaching fresh 52-week highs after reports that it could take over Ford’s Chennai plant.

Market linked stocks including IEX, CDSL, MCX, BSE gave breakouts and moved up in the week.

Chemical stocks moved up generally with Chinese supplies moving down after power shortage in the country. Energy stocks in the country saw some selling pressure with concerns of a power outage in the country, Tata Power asked Delhites to use electricity with care.

Foreign Institutional Investors(FIIs) have net sold Rs 3,686 crore worth of equity shares in the week.

To balance this out again, Domestic institutional investors(DIIs) net bought Rs 3,458 crore worth of shares during the week.

Week Ahead

U.S. Inflation data is expected to come out this week. The Jobs Data from the country was worse than expected last week. The inflation rate from India is also set out to come this week.

Nifty Smallcap and Nifty Midcap are giving breakouts and need to be watched.

India VIX fell more than 10% this week, closing down at 15.66.

RBI Governor Shaktikanta Das surprised investors by saying that the RBI will no longer continue its bond buying programme. This caused the dollar index to touch multi-month highs.

Many companies in the Indian market are set to announce their Q2 results this week including big names like Infosys, Wipro and TechM.

The highest call OI stands at 18,000 followed by 18,500. Highest Put OI is at 17,800 and followed by 17,000 and 17,700.

Keep an eye out for IT stocks this week, as results season will continue to create movement in the index. As we discussed and expected last week, they did give some movement.

After Reliance’s breakout, I think it’s time to look into HDFC Bank ahead of its results on Saturday. We may see some volatile consolidation in Bank Nifty this week.

The U.S. markets opened with a gap-up on Friday, and closed flat. SGX Nifty closed below 17,867 yesterday, slightly in the green.

Even if the Q2 results are in line with market expectations, we may see some volatile movements. I feel it’s more important to look into the small & midcap indices as they are at all-time highs on Friday.

The resistance to watch out in Nifty would surely be the all-time high near 17,950. If this is crossed and sustained, we can expect a move till 18,000, 18,100 and more. The first support to be watched out for is at 17,650 and then at 17,450.

What do you think will happen to Nifty this week? Will we see a breakout to fresh all-time highs? Or are you expecting a correction? Let us know what you think in the comments section of the marketfeed app.

Last Week

Nifty’s worst week in many months was seen in the last 5 trading sessions. 

NIFTY opened the week with a gap-up at 17,932 and tested the all-time high. On all 5 days of the week, Nifty closed in the red. Nifty closed at 17,532, down 400 points from Monday’s opening, down 2.2%.

Bank Nifty closed more than 1,100 points down from its Monday’s opening.

Financials and Banking stocks closed in the red along with IT stocks. It was mostly a week of profit booking all around the global markets.

Energy stocks shot up in the week with Oil & Gas, Power, Metals going up as the international power shortage became more intense. The CPSE(Central Public Sector Enterprises) stocks shot up in the week with this strength.

Reliance closed above Rs 2,500 and ended in the green as the general market closed in the red.

Auto sales data came out on Friday, as the month of October began. Maruti reported significantly lower sales for the month of September and blamed it on the semiconductor shortage. Tata Motors and Mahindra reported as expected sales and closed the week in green.

Oyo filed its Draft Red Herring Prospectus with SEBI for its nearly Rs 1 lakh crore IPO. Reports say that LIC will also file for its IPO this week.

Foreign Institutional Investors(FIIs) have net sold Rs 6,092 crore worth of equity shares in the week.

To balance this out and keep Nifty above 17,500, Domestic institutional investors(DIIs) net bought Rs 4,305 crore worth of shares during the week.

Week Ahead

China’s Evergrande issue continues to be a silent issue for the markets around the world. On the other side of the world, in the U.S. we can see political issues leading to a possible default on their bonds for the first time.

India VIX tried to move up in the week but closed at 17.21 slightly in the red. 

The highest call OI stands at 18,500 followed by 18,000. Highest Put OI is at 17,400 and 17,500 followed by 17,000.

Around the world, risk of Covid and fears are decreasing with vaccination rates speeding up.  

Auto stocks along with Pharma are trying to give a breakout. Keep a watch on them. Energy stocks have been rallying and might see more breakouts this week.

The U.S. markets opened with a gap-down on Friday, and closed in the green. SGX Nifty closed below 17,651 yesterday, more than 120 points in the green.

The Q2 results are around the corner and IT stocks as always will report their numbers first. With most stocks near good supports, we can expect a small jump ahead of results.

With the quarter ended in September, we can expect some fund flows from international institutions to come into the market. 

Nifty is expected to keep the 17,450 as good support. 20-Exponential Moving Charges(EMA) is also near this range. As you may remember, this is also near the previous all-time high resistance for Nifty.

Nifty and Bank Nifty may see some consolidation this week with 17,450 as support and 17,800-’900 as resistance. Bank Nifty is expected to see reduced interest as funds flow into other underperforming indices including IT and Pharma.

What do you think will happen to Nifty this week? Let us know what you think in the comments section of the marketfeed app.