Tag: Reliance share

Today’s Market Summarised

A breakout day again with markets closing at the day’s high.

NIFTY opened the day at 17,393 and shot up. After crossing the level of 17,500, the index consolidated. Further breakout was seen in the afternoon and ended up moving more than 250 points from the opening level. NIFTY ended the day at 17,625, up 271 points or 1.57%.

BANK NIFTY opened the day at 35,612 and saw buying. Once 36,000 was broken, the index moved another 500 points from there till closing time. Bank Nifty ended the day at 36,421, up 940 points or 2.65%.

NIFTY BANK (+2.6%), FIN NIFTY (+2.4%) and the PSU Bank (+2.1%) index moved more than 2% in the day. NIFTY METAL (+1.9%) also moved up along with AUTO (+1.6%).

Asian markets closed mostly in the green. European markets are trading in the green, with FTSE being closed.

News Picks

Coal India(+6.3%) moved up after saying that Coal output was up 3.3% to 60.2 MT in December 2021. It closed as the top-gainer in NIFTY 50.

Other than Coal India, other Nifty Metal stocks remained positive for the day. Tata Steel(+2.7%) closed up along with Hind Copper (+2.4%), Vedanta(+3.6%), SAIL (+2.7%) and Jindal Steel (+2.2%).

The auto sector remained generally positive with the auto sales data coming out. Eicher Motors (+4.9%) and Tata Motors (+3.1%) moved up the most. Ashok Leyland (+4.2%) also moved up.

Bajaj Finance (+3.4%) and Bajaj Finserv (+3.5%) closed among the top-gainers of NIFTY 50. Other finance stocks including ICICI Bank(+3.3%), IndusInd Bank (+2.7%) and HDFC Bank (+2.7%) also gained.

RBL Bank ends with gains of 4.4% today after a sharp decline last week. Federal Bank (+5%) moved up after reporting a healthy 12% YoY increase in loans.

LTI (+2.7%) hit a fresh 52-week high in the day. LTTS(+2.2%) moved up after saying it will consider Q3 results and dividend on Jan 18th. TCS(+2.1%) moved up from IT stocks in NIFTY 50.

Pharma stocks were beaten down even in the bullish market today. Cipla (-1.4%) closed as the top-loser in NIFTY 50 along with Dr Reddy (-1.1%) and Divi’s Lab (-0.58%).

With demand returning, infrastructure stocks saw buying in the day. Grasim (-2.4%), Ambuja Cement (+2.5%), Ramco Cement (-2.2%) and UltraTech (+1.7%) were among the many to move up.

M&M Financial (-2.2%) reports a loan disbursement of Rs 2,750 crores with a 42% (YoY) growth. The stock moved up.

Greaves Cotton (+12.9%) and Olectra (+5%-UC) moved up in the day along with other EV stocks.

Markets Ahead

Markets shot up for the opening day of the 2022 calendar year. On Friday, we had discussed that the 50-day moving average was crossed and sustained. The bearish trendline in NIFTY was also broken on Friday.

Today was the follow-up to this breakout. As we can see, NIFTY has found resistance at the previous swing high from December 13th.

Today, Bank Nifty also gave a breakout and gave the market confidence. The index however found resistance today at its 50-day Exponential Moving Average. We will hopefully see a breakout in the coming days as well.

India’s December Manufacturing Markit India PMI came out at 55.5 vs 57.6 last month. It is indicating a slight slowdown even though growth is being seen.

Going ahead, we can expect NIFTY to continue its bullishness and recover. Support can be expected at 17,350 along the 50-day EMA below which bears will take strength again.

Does your portfolio look better for New Year’s than in December? Let us know in the comments section of the marketfeed app! Again, wishing you a very good year ahead!

Today’s Market Summarised

NIFTY opened the day at 17,247 and gave a breakout crossing the major resistance of 17,325. The index consolidated in a range of 35 points and moved up in the second half to face resistance at 17,400. 

NIFTY ended the day at 17,354, up 150 points or 0.87%.

BANK NIFTY opened the day at 35,134 and crossed 35,500 in just 30 minutes. Consolidation in a zone of 200 points followed and Bank Nifty ended the day at 35,482, up 418 points or 1.19%.

All the major sectoral indices closed in the green. NIFTY IT(+0.11%) consolidated after hitting another all-time high yesterday. NIFTY METALS(+1.94%) recovered yesterday’s drop completely.

Asian markets closed in the green with HANG SENG moving up by more than 1% as prices of Chinese tech stocks listed in the US surged. European markets are trading in the red except DAX.

News Picks

Hindalco(+5.7%) closed as Nifty 50’s top gainer after its business rival Alcoa Corporation  announced  temporary shut down of aluminium production at its plant. National Aluminium(+3.4%) also moved up.

It was a high demand day for Cements stocks including Ultratech Cements(+2.6%), Shree Cem(+2.1%), Ambuja Cem(+1.7%), JK Cem(+2.7%), India Cements(+2.7%) and others.

Most of all the stocks from Nifty Auto closed in the green expecting good sales data in the coming days. Amara Raja Battery(+2.9%), Bajaj Auto(+1.5%), Bosch(+2.6%), BalKrishna(+2.6%), M&M(+0.95%), Maruti(+1.9%), TVS Motor(+1.8%) and Tata Motors(+2.5%) moved up.

There was strong buying in heavy weights of Nifty Metal and Tata Steel(+0.95%), JSW Steel(1.5%), VEDL(+2.3%) closed in the green.

IDFC(+13.1%)& IDFC First Bank(+1.7%) moved up after IDFC First Bank got an in-principle nod to merge with IDFC & IDFC Financial.

RBL Bank(-2.7%) continued to close in the red after the developments it had during the last weekend.

Indigo Paints(+9.6%) shot up after brokerage firm Motilal Oswal gave a Buy rating on it.

CMS Info was listed with a weak gain at Rs 220 against the issue price of Rs 216 and closed at Rs 238, 10% up.

PB Fintech(+2.2%) rose up after its board approved investment of up to Rs 700 crores in Policybazaar Insurance Brokers.

AstraZeneca(+2.6%) has applied to India for Covishield full market authorization.

The GST Council has unanimously decided to defer the hike in GST on textiles from 5 percent to 12 percent, which was to come into effect from January 1.

Vishwaraj Sugar Industries(+2.3%) has developed technology for sugarcane syrup preservation to enhance ethanol production.

Dilip Buildcon(-7.3%) fell heavily after CBI raided its official and residential premises.

Sunpharma(+1.3%) today tested its 5-year high at 851 and you can analyse the stock in the coming days.

Century Textiles (+4.5%) surged after Antique stock broking marked a BUY call on the stock.

Markets Ahead

NIFTY was near the intersection of a short term bullish channel and a long term bearish channel. The index broke the bearish channel in the first hour itself. This gives hope to the investors. 

NIFTY was fueled by BANK NIFTY that has been consolidating for several days. At the same time, the breakout is not complete without crossing 35,500 which the index struggled to do. 

If BANK NIFTY gives a breakout along with IT that consolidated today after the rally, we can witness a sharp up-move in NIFTY towards 18,000.

As mentioned in the report yesterday, the 50-day Exponential Moving Average was watched in the day and the index has closed above the dynamic resistance and 17,350. This indicates temporary strength. Let us watch 17,600 on the upside in the coming days to confirm strength in the market.

It was great to see a breakout on the last day of the year. Let us continue our journey of learning, investing and trading in the coming year. Wish you a Happy New Year! 

Today’s Market Summarised

Markets move sideways after morning volatility.

NIFTY opened the day at 17,204 and fell 60 points. This fall was gained back in the first 5 minutes and the index made a quick rebound to day-high. From here, consolidation in a wide zone was seen and NIFTY ended the day at 17,203, down just 9 points or 0.06%.

BANK NIFTY opened the day at 34,982 and fell just like NIFTY. and moved up. The index regained and moved in a 200 point zone till 1 PM. Power was seen after this and Bank Nifty ended the day at 35,063, up by 18 points or 0.05%.

NIFTY IT(+1%) continued its breakout while Realty(-0.97%) and Metal(+1.1%) fell in the day. All other sectoral indices consolidated.

Asian markets closed mixed in the day. European markets are trading slightly in the green.

News Picks

Energy company NTPC (+3%) is looking for strategic investors for its renewables unit before IPO next year. The stock closed as NIFTY’s top-gainer.

The IT index is continuing to show strength in the market. HCL Tech (+1.9%), Wipro (+1.4%) and TCS (+1%) closed among the top-gainers in NIFTY 50. Coforge (+3.7%) and Mindtree (+1.8%) also gained.

Cipla (+1.8%) closed among the top gainers along with Dr Reddy (+1.4%) which hit a 2-month high.

Reliance (-1.6%) fell after concerns on Mukesh Ambani’s hurry on passing leadership to his children.

RBL Bank (-9.4%) fell heavily once again after Monday’s bearishness.

Chemical and fertiliser stocks gained in the day. FACT (+9.2%), NFL (+2.2%), RCF (+2.3%) moved up. Interestingly, NIFTY 50 company UPL (-1.5%) fell.

Graphite (+20%) and HEG (+12.7%) gave strong breakouts after yesterday’s bullishness.

Krebs Biochemicals (20%) closed at the upper circuit after its board approved allotting 1 crore redeemable non-convertible preference shares worth Rs 100 crores to IPCA Labs.

Kalpataru Power (+5.2%) moved up after board meet on Jan 4th for raising of funds.

Markets Ahead

A very uneventful monthly expiry for the market today. When I saw the last hour fall yesterday, I was pretty sure that today would be a very volatile day in the market.

Zoom out and have a look at the last 3 days of trade in NIFTY. Looks like there is something big coming into the market for the new year.

Interesting to see that the IT index is zooming to all-time highs with only green candles since December 21. There are also many stocks ready to give good breakouts if NIFTY does not see a fall. 

In the chart we shared yesterday, it is clear that the index is taking resistance at its trendline. A failure to break this in the coming days with power may lead to the index falling again. The 200-day moving average is around 16,355 currently.  

A breakout above the 50-day Exponential moving average just above at 17,350 would indicate temporary strength.

How did the last expiry of the year go for you? Let us know in the comments of the marketfeed app.

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

Markets consolidate ahead of the last weekly expiry tomorrow.

NIFTY opened the day at 17,223 and moved up after heavy volatility. It broke yesterday’s high and moved up but quickly fell and saw sideways movement. There was a heavy fall in the last 30 minutes and NIFTY ended the day at 17,213, down just 19 points or 0.11%.

BANK NIFTY opened the day at 35,117 and moved up. It took resistance around yesterday’s high and saw heavy consolidation for many hours. Just after 3 PM, there was heavy selling and a fall of nearly 300 points was seen. Bank Nifty managed to end the day at 35,045, down by 138 points or 0.39%.

NIFTY Pharma stayed in the green while most others consolidated. NIFTY METAL and NIFTY Media fell to near 1%.

Most Asian markets closed mixed in the day. European markets are trading flat, except the UK which was closed for the last many days.

News Picks

Eicher Motors(+3.3%) gained for the third day in a row and closed as NIFTY’s top-gainer. Bajaj Auto(+2.7%) also gained along with TVS Motors(+2%). Bajaj Auto announced a new electric vehicle manufacturing unit for India which will roll out by June 2022.

Pharma and diagnostics stocks moved up after India sees a rise in active covid cases.

SunPharma(+2.9%) featured in the top-gainers list for another day and got near its all-time high. Sun Pharma Advanced Research(+11.6%) also shot up. Divi’s Lab(+2.1%) moved up in the day along with Dr Reddy(+1.8%) from NIFTY 50.

Along with pharma stocks, healthcare stocks also moved up in the day. Lal Pathlab(+2.7%), Apollo Hospital(+2.7%), Thyrocare(+5.7%), Max Healthcare(+2.3%), Fortis(+2.3%), KIMS(+6.2%) and others moved up.

SBI(-1.4%) was among the many banks to see last hour selling and closed among the top-losers.

Chemical stocks including RAIN(+11.6%), Bharat Rasayan(+10.7%), BASF(+6.2%) and Carborundum Universal(+6.1%) moved up.

Radico Khaitan(+4.7%) hit a fresh all-time high on good volumes after ICICI Direct recommended a BUY on the stock.

Puravankara(+10.4%) shot up after Singapore’s Keppel Corporation acquired a 49%  stake in the company.

Some recently listed IPO stocks saw good buying in the day led by Supriya Lifesciences(+18.6%), Data Patterns(+7.1%), Mapmyindia(+3.5%), Latent View(+9%), Cartrade(+5.6%) and others.

Markets Ahead

After financial stocks were not among the top-gainers yesterday, they dragged down NIFTY 50 today. The last hour of selling across the market indicates that there is still pressure near the top. 

Keep an eye on this channel in NIFTY. If the channel cannot be broken once more, we might see more selling in the upcoming trading sessions.

Recently IPO stocks look like they are in focus. Keep an eye on these stocks in the upcoming trading sessions also.

Where do you think the market is going in January? Let us know in the comments section of the marketfeed app!

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Today’s Market Summarised

Markets move up again with Reliance and Infosys leading the gains.

NIFTY opened the day at 17,185 with a gap-up. After some tight consolidation, it hit the day-high at 17,250 by 2:20 PM. It fell towards the day-low in 30 minutes and quickly recovered again. NIFTY ended the day at 17,233, up 147 points or 0.86%.

BANK NIFTY opened the day at 35,315 and fell. It took support at 35,000 and bounced back. After some last hour volatility, Bank Nifty ended the day at 35,183, up by 126 points or 0.36%.

All sectoral indices closed in the green today. NIFTY AUTO (+1.3%), PSU BANK (+1%) and IT (+0.97%) closed well in the green.

Most Asian markets are closed in the green today. All European markets are trading in the green currently.

News Picks

Asian Paints(+2.9%) gave a breakout and closed among the top-gainer in NIFTY 50. The stock is at its highest level since September.

Sunpharma(+2.6%) moved among the top-gainers after receiving DCGI approval to launch and market the Covid drug Molnupiravir in India. Cipla(+0.33%) also gained approval.

All stocks in NIFTY AUTO closed in the green. Gains in NIFTY 50 were led by M&M(+2.4%) and Tata Motors(+1.9%).

Chemical stocks including Deepak Nitrate(+3.9%), Pi Industries(+3.8%), Tata Chem(+3.1%) and Pidilite Industries(+3.1%) closed with gains.

RBL Bank(+3.3%) bounced back slightly after yesterday’s fall.

Major FMCG stocks are trying to gain back after their fall in the past few months. ITC(+1.1%), Tata Consumer(+1.1%), Godrej CP(+1.3%) and Britannia(+1%) closed with 1% gains.

Ajanta Pharma(+3.9%) moved up after approving buyback of shares at Rs 2,550. Current market price is around Rs 2,265.

Tyre stocks gave breakouts with high volumes today. CEAT(+11.6%), Apollo Tyres(+2.9%), MRF(+1%), JK Tyre(+10.3%), Balkrishna(+2.4%) and others saw heavy buying till the day’s closing.

Delhi Chief Minister Arvind Kejriwal says Delhi should impose some restrictions to curb virus spread. Cinema halls have been completely shut and led to fall in PVR(-3.7%) and INOX(-0.26%) from their day-highs.

Eris Life(+6.5%) closed with gains after Motilal Oswal initiated coverage with a BUY call on the stock.

Devyani International(+4%) gave a breakout after falling for 10 straight days. Keep an eye on further power from the stock.

BSE(+5.3%) opened with a big gap-up after the board announces it will consider a bonus issue on February 8.

With US Crude Oil prices gaining back, ONGC(+1.5%) and OIL(+6.7%) closed the day with gains.

IDFC(+10.3%) continued its breakout from last week after the approval of Anil Singhvi as Chairman.

Supriya Lifescience lists at Rs 421 with listing gains of 55%. It closed at Rs 389, up 42%.

Markets Ahead

Most stocks from NIFTY 50 closed in the green today. But interestingly, not even one stock from the financial sector closed among the top-gainers today. 

There are multiple restrictions announced in Delhi and partial lockdown. As we discussed above, theatres have been closed along with educational institutions. As Omicron concerns increase across the country, there are more and more restrictions being announced. But markets don’t seem to be affected by this anymore.

Most stocks from Tata Group moved up today including two NIFTY 50 top-gainers. TCS also might see more movement following other IT stocks. Reliance is trying to move above 2,400 in the immediate bounceback. 

NIFTY has re-entered a consolidating pattern after last Monday’s fall. If it moves back above the trendline is only when we can say there is a trend reversal in the market. The first level to watch out for is 17,400 after which we’ll have to look for a close above 17,600. Another fall below 17,000 will be indicating a return of bears in the market. 

Are you watching any stocks for big moves? Let us know in the comments section of the marketfeed app!

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Today’s Market Summarised

Markets start the last week of the year in green trying to reverse the fall from Friday.

NIFTY opened the day at 16,949 with a gap-down and quickly fell. But the initial fall looked like a bear trap and the market bounced back to day-high and above. It slowly went up to break 17,000 and test 17,100 towards market close. NIFTY ended the day at 17,086, up 82 points or 0.49%.

BANK NIFTY opened the day at 34,596 and followed a similar pattern to NIFTY. After the initial fall, the index recovered more than 900 points to the day high. Bank Nifty was able to close about the 35k mark and ended the day at 35,057, up by 200 points or 0.58%.

Only NIFTY PHARMA (+1.6%) closed with more than 1% gains, while IT (+0.69%) and Finserv (+0.91%) moved up slightly. NIFTY MEDIA (-1%) fell.

Most Asian markets closed mixed in the day. All European markets are trading flat currently.

News Picks

Almost all NIFTY IT stocks closed in the green today, led by Tech M (+3.5%) as Nifty 50’s top-gainer.

CIPLA (+2.4%) moved up after brokerages saw positivity in the company’s new injection getting USFDA approval. Dr Reddy (+2.1%) and SunPharma (+1.1%) also gained from the NIFTY 50.

RBL Bank (-18.4%) saw panic selling after the MD & CEO stepped down nearly six months before his term ends. It managed to recover slightly from the day-low. RBI has said that RBL Bank’s financial health remains stable.

GMR Infra(+8.2%) hit multi-year highs after signing a deal to develop and manage Kualanamu International Airport in Indonesia.

ZEEL(-4.1%) continued to see profit booking after the merger with Sony Pictures was completed.

Ashoka Buildcon(+10%) shot up after its subsidiary entered into share subscription and share purchase agreements with Galaxy Investments for Rs 1,337 crores.

Sunteck(+8.8%) saw buying while many other realty stocks stayed under pressure. Prestige also moved up.

HFCL(+3.6%) moved up after getting approved as a ‘Trusted Source’ by the National Security Council Secretariat.

Paras Defence(+6.8%) shot up near closing after DRDO awards Transfer Of Technology (ToT) For Development Of Border Surveillance System to the company.

Kabra Extrusion(+20%) moved up after its board approves raising Rs 301 crores for expansion.

Markets Ahead

The IT Index continued to move up to all-time highs and boosted NIFTY along with financials. ICICI Bank and HDFC twins contributed nearly half of NIFTY’s gains today.

If we look at the monthly candle for December in NIFTY, it is indicating indecision right now. On the downward side, we will have to look for the market to stay above 16,600 to prevent bearishness. Closing below this level would pull Nifty down till the 200 days moving average which has never been broken since being crossed in August 2020.

HDFC closed near the day-high by day-end indicating some strength for tomorrow. Reliance and ICICI Bank also closed the same way.

Another set of stocks to be kept an eye on are those from the Tata Group. Stocks are trying to break out from their current levels.

The last Monday of 2021 is done. Let us know if you are waiting for bulls or bears in the comments section of the marketfeed app!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

Consolidation and slight profit booking for the last day of the week.

NIFTY opened the day at 17,155 with a gap-up and moved down. It quickly broke the support at yesterday’s low and went down to 16,900 levels. With some sharp moves near the closing time, NIFTY closed the day at 17,003, down 69 points or 0.40%.

BANK NIFTY opened the day at 35,327 with a gap-up. It fell more than 700 points in just over an hour and then consolidated till closing time. Bank Nifty closed the day at 34,857, down by 334 points or 0.95%.

Only NIFTY IT(+0.98%) closed in the green today. NIFTY PSU BANK(-1.9%), NIFTY REALTY(-1.4%), PHARMA(-1.1%) and AUTO(-1%) closed in the red, 

Most Asian markets closed mixed in the day. All European markets are trading flat currently.

News Picks

IT stocks led gains in NIFTY 50 today. HCLTech(+3%) and TechM(+2.3%) closed among the top-gainers.

Coforge(+3.4%), LTI(+1.08%) and Mphasis(+1%) were among other IT stocks closing in the green.

SBI Life(+2%) bounced back in the day after trading near its 5-month low.

Data Patterns lists with a premium of nearly 46% at Rs 856 vs issue price of Rs 585/share. The stock closed at 755, 29% up.

Auto stocks closed in the top-losers list of NIFTY 50, led by a fall in Eicher(-1.7%) and M&M(-1.7%).

Financials including Axis Bank(-1.6%), Bajaj Finserv(-1.5%) and Kotak Bank(-1.5%) closed in the red along with HDFC(-1.4%).

L&T Finance(-6.9%), Shriram Transport(-2.7%), Muthoot Finance(-1.4%) and Chola Fin(-3.6%) fell after gaining yesterday.

Markets Ahead

NIFTY looks like it is trading in a downwards channel from the 19th of October. Seeing selling pressure every time the market moves up is what we are seeing.

The gap-up in the morning was not sustained and there was a fall. There was less volume reported in the Indian and international markets as traders stayed away on Christmas eve.

With today’s closing, December is still in the red for NIFTY. In fact, today’s high was around the same level as of December 1st’s high. If the selling spree by Foreign Investors continue next week and through the beginning of next year, we can expect some tough months for positional traders. 

In order to expect an uptrend around the market, NIFTY would have to break out of the current downwards channel that we discussed above.
Merry Christmas to all celebrating!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

Markets move up again with a gap-up on the weekly expiry day.
NIFTY opened the day at 17,069 with a gap-up and moved with volatility. It traded in a 100-point zone for the whole day. 17,000 was taken as support. With volatility even near the closing, NIFTY closed the day at 17,072, up 117 points or 0.69%.

BANK NIFTY opened the day at 35,359 and moved down more than 250 points. A bounce-back was seen till 35,500 by 1:30 PM but this was not sustained. By the day closing Bank Nifty broke the day-low and moved down but average closing helped Bank Nifty close the day at 35,191, up by 161 points or 0.46%.

NIFTY REALTY(+2.3%), PSU BANK(+1.5%), FMCG(+1.3%) and IT(+1%) moved up more than 1%. NIFTY MEDIA fell 1%.

Most Asian markets closed in the green today. All European markets are trading in the green currently.

News Picks

Energy stocks closed among the top-gainers of NIFTY 50. Powergrid (+3.3%), IOC (+2.8%) and ONGC (+2.7%) moved up.

FMCG stocks bounced back in the day. ITC (+2.5%), Tata Consumer (+1.6%) and Britannia (+1.6%) closed among the top-gainers of NIFTY 50. Radico (+5.4%) and Colpal (+1.7%) also moved up from the FMCG index.

Adani Ports (+1.1%) moved up in the morning but could not hold gains. It was after the Govt’s announcement of deregulation of tariff norms for major ports.

Lodha(+5.1%) once again moved up after Morgan Stanley Real Estate Investing closed a transaction to develop a logistics park spread across 72 acres in Maharashtra.

L&T Finance (+3.6%) said to sell its mutual fund business. Other midcap finance stocks including CholaFin (+5.1%), M&MFin (+3.8%), Muthoot Finance (+3.3%), LIC Housing Finance(+3.2%), Shriram Transport(+3.2%) and Manappuram Finance(+1.9%) moved up. 

REC (+2.5%) moved up after signing an agreement with KFW Development Bank to finance the power sector and renewable energy projects.

Jindal Saw (+3.8%) moved up after signing a Joint Venture agreement with Britain’s Hunting Energy Services.

All PSU Bank stocks closed in the green after reports that the Government may look at relaxing foreign shareholding and voting rights cap for them. SBI (+1.3%), PNB (+1.4%) were among the gainers.

GAIL(+2%) moved up after approving payment of interim dividend for the FY22 at Rs 4/share.

Hero Motocorp(+1.8%) gained after a plan to increase prices of its motorcycles & scooters from Jan 4th, up to Rs 2,000.

Markets Ahead

If you zoom out in the day and look at the chart, it was a pretty calm day. But during the day, it is very easy to see how it could have been a difficult expiry with the overall volatility.

As indicated by SGX Nifty in the morning there was a gap-up in the market above 17,000. Short covering took the index up to its highest level of the week but this was not sustained. There are many stocks still available at good valuations.

If you look at the closing in Bank Nifty, there is definitely a negative bias. HDFC Bank is struggling after falling below the Rs 1,500 mark. We will have to see if the current rumours about PSU Banks can affect SBI and other banking stocks.

Infosys has touched a fresh all-time high today. If the IT index continues this power, we can expect some underperforming stocks including TCS to move up.

How did the weekly expiry go for you? Let us know in the comments section of the marketfeed app!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

The market continues to rebound after Monday’s fall and closes in the green.

NIFTY opened the day at 16,869 with a gap-up and was volatile. It traded in a 100 points zone till 3 PM and then saw a breakout. It crossed yesterday’s high with ease but could not test 17,000. NIFTY closed the day at 16,955, up 184 points or 1.10%.

BANK NIFTY opened the day at 34,865 and saw volatile consolidation. Just like NIFTY, the index gave a breakout towards the end of the day and even crossed the 35,000 mark. Bank Nifty closed the day at 35,029, up by 421 points or 1.22%.

All sectoral indices closed in the green once again. NIFTY Realty(+2.9%), Pharma(+2%), PSU Bank(+1.7%) and Metal(+1.7%) moved up the most. 

Most Asian markets closed in the green today. All European markets are trading flat currently.

News Picks

Hindalco(+4%) closed as the top-gainer of NIFTY 50 with Aluminium prices on MCX touching a 2-month high. National Aluminium(+4.8%) also moved up.

Other Metal stocks including Hind Copper(+2.4%), Tata Steel(+2.1%), SAIL(+1.8%) and Vedanta(+1.5%) gained as international commodity prices moved up.

All stocks from the NIFTY Auto index closed in the green. Gains were led by Tata Motors(+3.7%), Eicher Motors(+2.9%) and Maruti(+1.4%).

Reliance(+2.3%), ICICI Bank(+1.7%), LT(+2.3%) and Bajaj Finance(+2.9%) pushed up the market.

Divi’s Lab(+3.5%) moved up after IIFL said it expects the company to post a strong set of earnings in Q3.

Powergrid(-2.4%) dropped after a dividend of Rs 7/share came into effect. No other stock from NIFTY 50 fell more than 1% today.

Zydus Cadila(+2.5%) moved up after receiving tentative approval from USFDA for pimavanserin tablets, used to treat the symptoms of a certain mental/mood disorder.

UK Government Scientists say the Omicron variant causes milder disease than Delta.

IDFC(+7.9%) moved up after approving the appointment of investment advisor Anil Singhvi as Chairman. IDFC First Bank(+5%) also moved up.

Manappuram(+4.6%) moved up with plans to raise over Rs 500 crores through a bonds issue.

Positive brokerage notes lead to buying in GMR Infra(+7.5%) & Motherson Sumi(+5.6%).

News of promoter RK Damani raising stake in India Cements(+5.7%) takes the stock higher.

All stocks in the Realty index moved up. Brigade(+8.3%), Lodha(+6.6%), Prestige(+5.3%) and Oberoi Realty(+3.6%) moved up the most.

Markets Ahead

NIFTY once again moved up and the breakout near closing time shows some strength in the market. Strong put buildup once again in the market gave it the confidence to move upwards. If you look at the Option Chain for today, we can get a clear picture of this. 

There is heavy support at 16,800 for tomorrow’s weekly expiry. The options data also indicate resistance at 17,000. But if there is a gap-up opening above this zone, we can expect some short covering in the index where it may move up. Otherwise, expect consolidation.

ICICI Bank, Reliance and Infosys are some stocks from NIFTY 50 which look ready for good moves in the coming days. Metal prices are also moving up around the world which puts some hope on the beaten-down metal stocks in our watchlist. 

NIFTY IT is also at a high point and set for a breakout soon. Do you have stocks from the index in your holdings? Let us know what you think in the comments section of the marketfeed app!

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Today’s Market Summarised

A green day on the second day of the week with high volatility.

NIFTY opened the day at 16,782 with a big gap-up and was volatile. It took resistance at yesterday’s high multiple times before finally breaking it. From the day-high of 16,937, a fall of 250 points was seen. NIFTY closed the day at 16,770, up 156 points or 0.94%.

BANK NIFTY opened the day at 34,871 and slowly moved up with volatility. It could not sustain above the 35,000 mark, and fell more than 650 points from there. Even with some last hour buying, Bank Nifty closed the day at 34,607, up by 168 points or 0.49%.

All sectoral indices closed in the green today. NIFTY Metal(+2.9%), Media(+2.5%), IT(+1.9%) and Realty(+1.6%) moved up the most.

Most Asian markets closed in the green today. All European markets are trading in the green currently.

News Picks

IT stocks bounced back and closed among the top-gainers in NIFTY 50. HCL Tech(+3.8%), Wipro(+3.7%) and TechM(+2.1%) moved up. Coforge(+4.1%) and LTI(+3.5%) also gained well.

Metal stocks shot up after the increase in prices of Iron Ore Futures internationally. Tata Steel(+3%), Hindalco(+2.8%) and JSW Steel(+2.4%) moved up. SAIL(+3.9%), Vedanta(+4.2%) and National Aluminium(+5.4%) also went up.

Financial stocks had a mixed day. Multiple stocks from the sector featured in the top-losers section led by Axis Bank(-1.2%).

Piramal Enterprises(+4.1%) gained after its subsidiary entered into the biologics and vaccines business by acquiring Yapan Bio for Rs 101 crore.

MapmyIndia listed with a premium of 45% at Rs 1,586.40 vs issue price of Rs 1,033/share. It closed at Rs 1,393, up 34%.

Globus Spirits(+6.5%) shot up after starting commercial production at the enhanced capacity in the West Bengal unit.

Tata Coffee(+2.6%) moved up after saying the report saying that Tata group may lose control over 942-acre tea estate in Karnataka is not true.

Shilpa Medicare(+4.3%) moved up after launching Prucalshil (Prucalopride) orally disintegrating strips 1 mg and 2 mg in India.

ZEEL(+4.9%) moved up after saying the Sony merger deal is completed.

Markets Ahead

A dead cat bounce or a proper recovery attempt? That was the question everyone had in mind after the gap-up opening today. Don’t be tricked into thinking markets have recovered as NIFTY closed at its opening level with a Doji candle, indicating indecision.

There is more put buildup in the market today indicating that downwards moves again are less probable. High probability of consolidation or moving up towards 17,000 is expected by NIFTY in the week. But also remember that with the uncertain local and global cues, any major news or announcement can trigger panic again.

NIFTY has taken support yesterday at 10% down from the all-time highs. Bank Nifty is also indicating a mood of consolidation. Keep an eye out on IT stocks for the coming days including Infosys which is near its all-time high.

How is your portfolio looking now? Let us know what you think in the comments section of the marketfeed app!

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Today’s Market Summarised

Markets crash down after gap-down opening and manage to recover slightly in the afternoon.

NIFTY opened the day at 16,840 with a big gap-down and fell sharply. It tried to consolidate around 16,580 but failed to hold the level. With more selling, the index touched a 4-month low near 16,400. There was buying in the afternoon and NIFTY closed the day at 16,614, down 371 points or 2.18%.

BANK NIFTY opened the day at 35,226 with a gap-down and fell more than 400 points in the first 5 minutes. From the opening level, the index fell 1,200 points to take support at the level of 34k. With buying after 1 PM, Bank Nifty closed the day at 34,439, down by 1178 points or 3.31%.

All sectoral indices closed in the red today. NIFTY REALTY(-4.9%), PSU Bank(-4.4%) and Media(-3.9%) closed 4% down. NIFTY Bank(-3.3%), Metal(-3.7%) and Finserv(-2.9%) also fell heavily.

Most Asian markets closed in the red today. All European markets are trading in the red currently.

News Picks

Only 3 stocks closed in the green from NIFTY 50 today. Cipla(+3.9%) closed in the green after receiving approval of Lanreotide injection from USFDA. Other pharma stocks including APL Ltd(+2.1%), Glenmark(+1.7%) and AuroPharma(+1%) closed in green.

Hindustan Unilever(+1.7%) fell to a 9-month low of Rs 2,200 and bounced back up. HUL raised the prices of certain products by 7-10%.

BPCL(-6.4%), Tata Steel(-5.2%) and Tata Motors(-4.9%) fell on the day and closed among top-losers of the day. Interestingly, Iron ore on the Singapore and China market is up 6% even though NIFTY Metal fell.

IndusInd Bank(-4.1%) stock fell to an 8-month low and closed among the top-losers. SBI(-3.9%), AU BANK(-9.8%), Bandhan Bank(-7.6%) and RBL Bank(-6.6%) closed as the worst from Bank Nifty.

Competition Commission of India suspended Amazon’s deal with Future Group, Future Retail closed 20% up in Upper Circuit.

Markets Ahead

Another bearish day in the market where NIFTY was down more than 400 points intraday. But after 1 PM there was recovery and NIFTY closed more than 200 points up from the day-low.

The strong support indicated by options data was at 17,000. Once the market opened with a big gap-down below this, it triggered panic and NIFTY fell again. Even though 16,500 was expected to be a support, the index bounced back from below that.

There are also rumours that Long Term Capital Gains will be non-taxable. This might cause big moves in the market creating more buying.

On the Covid front, media reports say that India has detected 161 Omicron cases in 12 states, however not a single patient is in a serious condition, all are mild. 

As we discussed on Friday, a move below 16,800 will indicate more bearishness for the entire market. Will the green near the closing time indicate support? What do you think? Let us know what you think in the comments section of the marketfeed app!

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Today’s Market Summarised

NIFTY closes the third week of December as one of its worst in 2021.

NIFTY opened the day at 17,298 with a gap-up and kept on falling. It fell below yesterday’s low and moved down to the 17k mark. It tried to bounce back and found resistance at 17,100 before falling again. NIFTY closed the day at 16,985, down 263 points or 1.53%.

BANK NIFTY opened the day flat at 36,550 and fell. Once the level of 36k was broken, it moved sideways for more than 4 hours. There was selling near closing time and the index made a fresh day-low. Bank Nifty closed the day at 35,618, down by 930 points or 2.54%.

NIFTY IT(+1.3%) was once again the only index to close in green. NIFTY MEDIA(-4.7%), Realty, PSU Bank(-3.6%) fell heavily. All other indices fell more than 1%.

Most Asian markets closed in the red today. All European markets are trading mixed currently.

News Picks

IT stocks closed with gains after the breakout in the index we discussed yesterday. Wipro(+4.1%), Infosys(+2.7%) and HCL Tech(+1%) closed in the top-gainers of NIFTY 50. Wipro moved up heavily after news that the stock could see inflows of more than Rs 1,000 crores after FTSE and Sensex rejig.

IndusInd Bank(-4.8%) moved down till its November lows with selling in banking and financial stocks. Kotak Bank(-3.6%), HDFC(-3%), SBI(-2.7%) also fell among others from NIFTY 50.

Tata Motors(-4.4%), ONGC(-4%) and Hindustan Unilever(-3.4%) also fell sharply on the day. Tata Motors European JLR Sales stood at 3,853 units vs 6,007 units last year. Tata Motors DVR(-7.8%) also fell.

Indiabulls Housing Finance(-8.2%) fell sharply again after Morgan Stanley rated it ‘underweight’. The stock was down yesterday with promoter stake sale. Apollo Hospital(-8%), BHEL(-7.6%) and ZEEL(-7%) were some stocks that fell heavily.

VEDL(-7%) moved down 25 points including the Rs 13/share dividend adjustment. 

RateGain listed on exchanges at Rs 372.10/share vs issue price of Rs 425/share, down 12.5% and fell again to Rs 340. It was one of the worst-performing IPOs this year.

Markets Ahead

One of the most bearish weeks for the market in a while. Incidentally, most gains from the month of December have been wiped out.

New 52-week lows were created by Whirlpool, Colgate and Gillette along with Bajaj Auto. Meanwhile, Infosys and TechM are near their 52-week highs.

Bank Nifty has closed at its lowest level since August. There is surely a sense of bearishness in the market. The fall in HDFC Bank and Kotak Bank has been quick and sharp. 

On Monday, we may see a slight pullback or a gap-up opening but that would not be enough to break out the bearishness. Reliance is near its important support zone of 2,300

As we have been saying, go bullish on NIFTY only if it crosses the 17,600 level. Short term consolidation is expected around the 17,000 mark as indicated by Open Interest. On the short side, a move below 16,800 will indicate even more bearishness for the entire market. 

Will Institutional Investors stop heavily selling in December? Let us know what you think in the comments section of the marketfeed app!

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