Tag: pre market report

What Happened Yesterday?

NIFTY started yesterday at 24,236 with a gap-up and fell. After a fall of close to 160 points, it recovered nearly half of it. Mostly there was sideways movement after this. NIFTY ended the day at 24,123, down by 18 points or 0.07%.

U.S. markets closed in green, with NASDAQ and S&P 500 moving back to all-time. The European markets closed in the red.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in green at 24,329, up by 99 points.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 24,050, 23,910 and 23,800. We can expect resistances at 24,200, 24,300 and 24,500.

BANKNIFTY has supports at 52,000, 51,800 and 51,600. We can expect resistances at 52,390, 52,620 and 53,000. 

Foreign Institutional Investors net–sold shares worth Rs 2,000 crores. Domestic Institutional Investors net–bought shares worth Rs 648 crores.

INDIA VIX is now at 13.64.

The market is now comfortably trading above the 24k mark. In today’s gap-up, we will see an opening near yesterday’s level.

HDFC Bank is near a 52-week high and contributed most to NIFTY’s move yesterday. The bank’s ADR is also up more than 4% on the New York Stock Exchange after it reported lower FII Holding for last quarter. This is in line with the MSCI Index’s requirement of keeping FII shareholding below 55.5% and could see higher weightage to the Morgan Stanley index.

Reliance is creating a flag pattern after the recent rally. If the trendline is broken, we can see more rallies on the upper side.

NIFTY IT is also rallying ahead of the results season. TCS results will come out on July 11th. The index is 3% away from its 52-week high.

Fed Chair Jerome Powell also said in a speech yesterday that rate cuts can only be expected once inflation is successfully kept around 2% in the U.S. Further minutes of last month’s FOMC meeting will be out tonight.

Otherwise, the only things to look forward to are price-action trades in the market and HDFC Bank moves!

We will be continuing our BANKNIFTY trades and NIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday at 23,887 and fell. After taking support at 23,800, the market saw a good rally powered by IT stocks. A move of 170+ points in the last 1 hour helped NIFTY end the day at 24,044, up by 175 points or 0.74%.

U.S. markets closed in green. The European markets closed mixed.

What to Expect Today?

Asian markets are trading mostly in the green.

The U.S. Futures are trading in slight green.

GIFT NIFTY is trading in green at 24,209, up by 162 points.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 24,050, 23,910 and 23,800. We can expect resistances at 24,200, 24,300 and 24,500.

BANKNIFTY has supports at 52,600, 52,300 and 52,000. We can expect resistances at 53,000, 53,200 and 53,500. 

Foreign Institutional Investors net–bought shares worth Rs 7,658 crores. Domestic Institutional Investors net–sold shares worth Rs 3,605 crores.

INDIA VIX is now at 14.15.

NIFTY hit the 24k mark yesterday and first saw rejection. But with a surprise move towards the end, a 170+ point rally in 1 hour on the monthly expiry!

It was mostly a day where FIIs took the market up, after their bearish bets on futures last week. Good market sentiment and some short-covering were helpful.

IT stocks mostly held their ground and helped the market rally. The IT index was up more than 2%.

NIFTY took support in the upper channel after 10 days of consolidation. The current rally has strength for this reason.

Let’s see if the indices can flex their muscles on a Friday, especially with the gap-up opening at 24,200. So today is a fair game, a purely speculative market with a bullish bias and no levels to watch.

Reliance raised tariffs on Jio heavily, so do watch out for movement in the stock. Reliance has already rallied 6% in the last 2 days.

We have PMI data coming out next week, and the Fed FOMC Meeting Minutes on Wednesday.

We will be continuing our BANKNIFTY trades and entering fresh NIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started last week at 23,570 with a gap-up at an all-time high. Over the 4-day trading week, multiple gap-ups were seen with a high created at 23,667. NIFTY ended the week at 23,501, up by 35 points or 0.15%.

U.S. markets closed mixed. The European markets closed in the red.

What to Expect Today?

Asian markets are trading mostly in the red.

The U.S. Futures are trading in the red.

GIFT NIFTY is trading in red at 23,375, down by 96 points.

All the factors combined indicate a gap-down opening in the market.

NIFTY has supports at 23,500, 23,420 and 23,350. We can expect resistances at 23,600 and 23,700.

BANKNIFTY has supports at 51,580, 51,270, 51,000. We can expect resistances at 51,800, 52,000, 52,300. 

NIFTY has call OI resistance at 24,000 and 23,500. High put OI support can be seen at 23,000. PCR is at 0.91, slightly bearish.

BANKNIFTY has call OI resistance at 53,000. High put OI support can be seen at 52,000. PCR is at 1.08, slightly bullish.

Last week, Foreign Institutional Investors net–bought shares worth Rs 9,102 crores. Domestic Institutional Investors net–bought shares worth Rs 9,574 crores.

INDIA VIX is now at 13.18.

It is the monthly expiry week in the market, and NIFTY and BANKNIFTY futures are trading at a discount to the spot.

Last week was yet another week of gap-ups and red candles for NIFTY. But today we will be starting off with a good gap-down.

IT stocks saw a good gap-up and rally on Friday following Accenture’s results in the U.S. We can expect these stocks to fall less than the rest of the market, looking at how Accenture stock closed on Friday.

NIFTY has found it hard to stay above the resistance around the 23,600 zone. As discussed in this video, the index will likely consolidate for a while before another breakout.

There are currently no significant local or international cues to watch.

There are a few stocks I am watching for further breakouts – Berger and Rossari.

We will be continuing our BANKNIFTY trades and NIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday at 23,587 and moved down. It took support in the first hour, and slowly moved back up. With another red day candle, NIFTY ended the day at 23,567, up by 51 points or 0.22%.

U.S. markets closed mixed. The European markets closed in the green.

What to Expect Today?

Asian markets are trading mostly in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in green at 23,600, flat.

All the factors combined indicate a flat opening in the market.

NIFTY has supports at 23,500, 23,420 and 23,350. We can expect resistances at 23,600 and 23,700.

BANKNIFTY has supports at 51,580, 51,270, 51,000. We can expect resistances at 51,800, 52,000, 52,300. 

Foreign Institutional Investors net–bought shares worth Rs 415 crores. Domestic Institutional Investors net–sold shares worth Rs -325 crores.

INDIA VIX is now at 13.34.

The U.S. markets hit another all-time high even yesterday’s market.

The markets are saying that there is resistance around the 23,600 zone. This will be interesting to watch as Fridays are usually when the market moves according to free forces.

BANKNIFTY has given a breakout above its upward-trending channel. The expiry on Wednesday gave the index enough volatility to do this and move up 1,500 points. It is now very close to the 52k mark, but won’t be easy to cross. 

If it does, it will single-handedly mark the revival of HDFC Bank along with it. The stock moved up 3% on Wednesday and is now 20% up from its 52-week low. 

There are no significant local or international cues to watch for currently.

We will be continuing our BANKNIFTY trades and entering fresh NIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday with a 100+ point gap-up at 23,570 and moved down. It took support at 23,500 and then traded sideways for the day. NIFTY ended the day at 23,557, up by 92 points or 0.39%.

U.S. markets closed in small green. The European markets also closed in the green.

What to Expect Today?

Asian markets are trading mostly in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in green at 23,660, up by 60 points.

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

NIFTY has supports at 23,500, 23,420 and 23,350. We can expect resistances at 23,600 and 23,700.

BANKNIFTY has supports at 50,250, 50,100 and 50,000. We can expect resistances at 50,500, 50,670 and 51,000. 

NIFTY has the highest call OI resistance at 24,000 and 23,800. The put OI supports are at 23,400 and 23,500. PCR is at 1.19, indicating bullishness.

BANKNIFTY has the highest call OI resistance at 50,500. The put OI supports is at 50,000. PCR is at 1.22, indicating bullishness.

Foreign Institutional Investors net–bought shares worth Rs 2,569 crores. Domestic Institutional Investors net–bought shares worth Rs 1,555 crores.

INDIA VIX was flat at 12.96.

The trend of gap-up opening and a fall continued for the 6th trading day in NIFTY.

NASDAQ and the S&P500 in the U.S. scaled fresh all-time highs backed by AI stocks

BANKNIFTY turned bullish after so many days, but other stocks like Maruti and ITC had intraday falls. This kept NIFTY below opening levels.

The 23,600 level is one which I expected NIFTY to find difficulty in breaking. But if that level is being broken with strength, further upward momentum could be seen.

For the BANKNIFTY expiry, most positions are built on the put side across the market. Traders are expecting a bullish to sideways index. For larger moves, watch the 50,000 – 50,500 zone,

We will be continuing our NIFTY and BANKNIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday with a big gap-up at 23,480 and moved down. It could not sustain at the all-time high levels and fell back to Thursday’s trading zone. After the initial fall, markets mostly traded in a 60-point zone. NIFTY ended the day at 23,398, up by 76 points or 0.33%.

U.S. markets closed mixed. The European markets closed in the green.

What to Expect Today?

Asian markets are trading mostly in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 23,420, up by 15 points.

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

NIFTY has supports at 23,350, 23,200, 23,100 and 23,000. We can expect resistances at 23,400 and 23,500.

BANKNIFTY has supports at 49,750, 49,680, 49,500 and 49,300. We can expect resistances at 50,000, 50,100 and 50,250. 

Foreign Institutional Investors net–sold shares worth Rs -3,033 crores. Domestic Institutional Investors net–sold shares worth Rs -553 crores.

INDIA VIX cooled down to 13.48.

Markets have been giving gap-ups back to back since June 5. Even today, we can expect this trend to continue. In the last 4 gap-ups, we have had red candles in the day.

Usually, Friday is the day where options players let the market rally. So hoping to see some moves to 23,500 and then see some consolidation!

Do remember that NIFTY is trading outside a very bullish channel, and eventually it would come back and continue inside the older trendlines. 

Keep an eye out for HDFC Bank and Reliance today.

We will be entering fresh NIFTY trades and continuing our BANKNIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday with a gap-up at 23,330 and moved up to fresh all-time highs. It later consolidated in a 60-point zone. After 2 PM, it started falling and moved back to the opening levels. NIFTY ended the day at 23,323, up by 58 points or 0.25%.

U.S. markets closed mixed. The European markets closed in the green.

What to Expect Today?

Asian markets are trading mostly in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in green at 23,446, up by 80 points.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 23,200, 23,100 and 23,000. We can expect resistances at 23,310, 23,400 and 23,500.

BANKNIFTY has supports at 49,680, 49,500 and 49,300. We can expect resistances at 50,000, 50,100 and 50,250. 

In NIFTY, there is high call OI resistance at 23,500 and 23,400. Put sellers are active at 23,000 and 23,200. PCR is 0.89, indicating slight bearishness.

Foreign Institutional Investors net–bought shares worth Rs 426 crores. Domestic Institutional Investors net–bought shares worth Rs 233 crores.

INDIA VIX cooled down slightly to 14.38.

Just before the market opened yesterday, GIFT NIFTY rallied up and gave us a gap-up opening. And some of that volatility was seen as BNF hit crossed 50k in the first hour of trade.

Still the markets closed flat as they were expecting important data from the U.S. And now it’s out!

Inflation data was better than expected, but markets cooled down when Fed announced they expect only a single rate cut this year.

Still, NASDAQ and S&P500 continued on their all-time high runs mostly following Apple. But looking at how Accenture stock performed, I would not expect those gains in our IT stocks today.

For NIFTY’s expiry today, I think a larger push towards fresh highs is what we will see. There might be a tendency for the market to move up through gap-ups and slow intraday movements.

I would watch 23,400 and 23,500 on the upper side. And if the trend is to reverse, keep an eye on the levels of 23,150 and 22,950.

We will be entering fresh BANKNIFTY trades today. You can check out our marketfeed app or our website for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday flat at 23,288 and had a volatile opening. It eventually went up to near 23,400 but lost all gains in the last hour of trade. NIFTY ended the day at 23,264, up by 5 points or 0.02%.

U.S. markets closed mixed. The European markets closed in red.

What to Expect Today?

Asian markets are trading mostly in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in red at 23,290, down by 50 points.

All the factors combined indicate a flat to gap-down opening in the market.

NIFTY has supports at 23,200, 23,100 and 23,000. We can expect resistances at 23,310, 23,400 and 23,500.

BANKNIFTY has supports at 49,680, 49,500 and 49,300. We can expect resistances at 50,000, 50,100 and 50,250. 

In NIFTY, there is high call OI resistance at 23,500. Put sellers are active at 23,000 and 23,200. PCR is 0.89, indicating bearishness.

In BANKNIFTY, there is high call OI resistance at 50,000. Put sellers are active at 49,000 and 49,500. PCR is 0.78, indicating bearishness.

Foreign Institutional Investors net–sold shares worth Rs 111 crores. Domestic Institutional Investors net–bought shares worth Rs 3,193 crores.

INDIA VIX cooled down 10% to 14.76.

Our market is consolidating and gave a flat closing yesterday. FINNIFTY option sellers would have had a good day!

In BANKNIFTY expiry today, follow the trail of option sellers at 49,500 and 50,000. Any move outside of these zones can be watched for a good trade.

And after the expiry today, VIX is unlikely to fall too much. There are 2 major events coming up tonight. First is the U.S. inflation data, followed by the Fed Interest rate decision.

Expectation is that interest rates will remain flat, with a guidance on at least 1 rate cut this year.

So local cues and consolidation for the BNF expiry, and international cues for tomorrow’s NIFTY expiry. That is the expectation!

We will be continuing to stay out of trading today. You can check out our marketfeed app or our website by Thursday for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday flat at 23,321 and touched a fresh all-time high. The level of 23,400 was hit and then the index started seeing profit booking. This was followed by sideways movements till 2 PM, and then a last-hour fall. NIFTY ended the day at 23,259, down by 30 points or 0.13%.

U.S. markets closed in slight green. The European markets closed in red.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading in slight red.

GIFT NIFTY is trading in green at 23,282, up by 40 points.

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

NIFTY has supports at 23,250, 23,100 and 23,000. We can expect resistances at 23,310, 23,400 and 23,500.

BANKNIFTY has supports at 49,680, 49,300 and 48,900. We can expect resistances at 49,915, 50,000 and 50,250. 

FINNIFTY has supports at 22,095, 22,000 and 21,900. We can expect resistances at 22,200, 22,300 and 22,500. 

In NIFTY, there is high call OI resistance at 23,500. Put sellers are active at 23,000. PCR is 0.82, indicating bearishness.

In BANKNIFTY, there is high call OI resistance at 50,000. Put sellers are active at 49,000. PCR is 0.68, indicating bearishness.

Foreign Institutional Investors net–bought shares worth Rs 2,572 crores. Domestic Institutional Investors net–bought shares worth Rs 2,764 crores.

INDIA VIX cooled down to 16.39.

The market has now cooled down and entered a temporary consolidation zone. The moves above the all-time high from here could only be with gap-ups. 

But today doesn’t look to be that day. NIFTY will be opening nearly flat, and is expected to be in a sell-on-rise mode like yesterday.

For the FINNIFTY expiry, any move outside 22,100-22,300 has the potential to be big. I am expecting a trading range mostly inside it.

On NIFTY,  23,150 is the max pain for the week. It could get attracted to this region.

You can check out the marketfeed app for our NIFTY, BANK NIFTY options trade updates!

All the best for the day!

What Happened Yesterday?

Yesterday was undoubtedly one of the craziest trading days in our stock market’s history. It was the biggest single-day fall for NIFTY since March 2020 with even fear of market-wide lower circuit getting triggered at a 10% fall.

NIFTY started yesterday with a gap down at 23,179 and saw a 700+ point fall in 20 minutes. The key trigger was early polling results showing wildly different numbers from the exit poll, and even PM Modi lagging in votes. 

After every bounce, there was further selling until the market bottomed out at 21,280. NIFTY ended the day at 21,884, down by 1,379 points or 5.93%.

U.S. markets closed in slight green. The European markets closed in the red.

What to Expect Today?

Asian markets are trading mixed.

The U.S. Futures are trading in green.

GIFT NIFTY is trading in green at 22,061, up by 100 points.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 21,800, 21,480 and 21,270. We can expect resistances at 21,260, 21,400 and 21,870. 

BANKNIFTY has supports at 47,200, 46,700 and 46,100.  We can expect resistances at 47,600, 48,080 and 48,400. 

In NIFTY, there is high call OI resistance at 22,000. Put sellers are active at 21,500. PCR is 0.52, which is indicating high fear.

In BANKNIFTY, there are no significant OI buildups near the current spot price. PCR is at 0.41.

Foreign Institutional Investors net–sold shares worth Rs 12,436 crores. Domestic Institutional Investors net–sold shares worth Rs 3,318 crores.

INDIA VIX shot up 27% to 26.74.

In the first candle of 300+ points fall, it was clear the market was going to swing wildly yesterday. Just when polling started around 9 AM, GIFT NIFTY started falling.

For now, NDA is going to form the government with a 20-seat majority. BJP’s allies have confirmed their support for the formation of a government. However, the market will remain shaky for a while as the BJP is still dependent on its allies.

The market is now technically bearish. NIFTY and BANKNIFTY took good support at their 200-day EMA levels. This level has to be watched as an important indicator of future bearishness.

However, the 200-EMA level is always a good point to buy more based on historical moves. So even if you assume further weakness, I consider it as a good starting point to buy into the market.

Let’s see if NIFTY can crawl its way back into the channel.

We will be continuing to stay out of trading today. You can check out the marketfeed app for new trades!

All the best for the day!

What Happened Yesterday?

NIFTY started yesterday with a huge gap-up at 23,338 and saw profit booking. The first 5-minute candle fell almost 200 points. Throughout the day, the market slowly recovered back to the day high. NIFTY ended the day at 23,263, up by 733 points or 3.25% for the week.

U.S. markets closed mixed. The European markets also closed mixed.

What to Expect Today?

Asian markets are trading mostly in slight red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in red at 23,441, down by 10 points.

All the factors combined indicate a flat opening in the market.

NIFTY has supports at 23,200, 23,095, 23,000. We can expect resistances at 23,300, 23,400, 23,500. 

FINNIFTY has supports at 22,570, 22,430 and 22,270. We can expect resistances at 22,700, 22,800 and 22,900. 

In NIFTY, there is high call OI resistance at 23,500 and 24,000. Put sellers are active at 23,000. PCR is 0.89.

In FINNIFTY and BANKNIFTY, there are no high contract buildups near the spot price. PCRs indicate that more call options are being sold in both indices.

Foreign Institutional Investors net–bought shares worth Rs 6,850 crores. Domestic Institutional Investors net–sold shares worth Rs 1,913 crores.

INDIA VIX crashed 15% to 20.93.

The market was crazy yesterday as expected. It crashed down after the initial gap-up opening, but then went back up slowly. 

BANKNIFTY closed at the day-high and has to be watched again today.

And today is the vote counting day. Expecting market volatility with a further crash in VIX, which could trap option buyers.

In NIFTY, 23,500 is an important level to watch. High resistance is expected at that level.

On the lower side, do watch 23,200 and 23,100 in NIFTY. 

We will be continuing to stay out of trading today. You can check out our marketfeed app or our website by Thursday for new trades!

All the best for the day!

Welcome back to Pre-Market Reports by marketfeed. We deeply apologies for the missed articles in between. See you here every single day from now for a simple and honest market analysis at 8:30 AM!

What Happened Yesterday?

GIFT NIFTY is going crazy with a 3.5% gap-up. Read more to find out why!

NIFTY started last Monday with a gap-up at an all-time high of 23,038 and saw profit booking. All 5 trading days last week closed with red candles. NIFTY ended Friday at 22,530, down by 426 points or 1.83% for the week.

U.S. markets closed in green. The European markets also closed in the green.

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading in the green.

GIFT NIFTY is trading in super green at 23,500, up by 805 points or 3.57%.

All the factors combined indicate a huge gap-up opening in the market.

NIFTY has supports at 22,600, 22,510 and 22,350. We can expect resistances at 22,710, 22,780 and 22,900. Watch out for 23,500 and 23,600.

In NIFTY, there is a high call OI resistance at the 23,000 level. Put sellers are active at 22,500. PCR is 0.76.

In BANKNIFTY, there are contracts built all over. There is a high call OI resistance at 50,000. The nearest put option support is at 48,500.

Last week, Foreign Institutional Investors net–sold shares worth Rs 7,754 crores. Domestic Institutional Investors net–bought shares worth Rs 14,935 crores.

INDIA VIX had increased 13% last week to 24.60.

The market is going to go crazy today after the exit poll results on Friday night. The numbers showed high confidence that BJP and allies would win 370+ seats in the current Lok Sabha elections.

Adani stocks had performed well on Friday as if they knew this rally would come on Monday. Expect BANKNIFTY also to go crazy today.

Call option sellers are going to be blown out of the park, but hopefully, a crash in VIX will limit losses to a certain extent. We stayed out of the market this week due to high volatility and low liquidity.

Official election results will be announced tomorrow. The market will continue to be volatile. Do not take aggressive positions today, as profit booking can hit any time.

As we had said earlier, the Fib retracement level of 22,415 turned out to be a game-changer in the last 2 weeks of the market. Once that was broken, the market started going crazy.

We will be continuing to stay out of trading today. You can check out our marketfeed app or our website by Thursday for new trades!

All the best for the day!