Tag: Reliance share

Today’s Market Summarised

A volatile Thursday even while NIFTY closes flat!

NIFTY opened the day at 17,375 with a big gap-up. But from here, the index could not sustain and fell. Support was found at 17,200 twice and moved down. Buying in the last 30 minutes helped NIFTY close the day at 17,248, up 27 points or 0.16%.

BANK NIFTY opened the day at 37,094 with a gap-up and fell. The index tried to take support at 36,800 but fell sharply after breaking it. After a last hour fall and bounce back, Bank Nifty closed the day at 36,548, down by 240 points or 0.65%.

NIFTY IT(+1.1%) was the only index to close in green. NIFTY MEDIA(-1.7%) and PSU Bank(-0.95%) fell while most others closed slightly in the red.

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

News Picks

Bajaj Finance(+2.6%) bounced back along with Reliance(+1.2%) from their support and closed among the top-gainers of NIFTY 50.

Infosys(+2.1%) moved up in the day gain on an extension of digital innovation deal with Australian Open. Wipro(+1.2%) and HCL Tech(+0.94%) also moved up from the IT sector.

Hindalco(-1.7%) closed as the top-loser of NIFTY 50 with selling from the morning. Most other NIFTY METAL stocks consolidated.

TVS Motors(-5.5%) fell after a gap-up opening after the company said yesterday that it would make electric bikes in partnership with BMW.

Syngene International(+0.26%) announces extension of collaboration with Amgen.

Subros(+4.5%) won an order from Indian Railways for supply of coach air-conditioners in a recently concluded tender.

LT(+2.4%) wins contracts of Rs 2,500-5,000 crores for its power transmission and distribution business.

FluoroChem(-8.4%) moved down after reporting a fire at its Halol unit in Gujarat.

Markets Ahead

A volatile trading day in the market. The U.S. markets moved up after yesterday’s announcement of holding interest rates the same. Even all Asian and European markets are now in the green. But our markets saw selling pressure from institutional players looking to book profits.

NIFTY traded fairly calmly in the highs and lows of the last 3 days. It was only Bank Nifty which moved down heavily. Infosys and Reliance stocks kept NIFTY stable.

NIFTY IT index indicates a breakout from their current consolidation channel towards the closing of the day. With the current recovery being seen in NASDAQ, we can expect a move in Indian IT stocks also in the coming sessions.

How was the weekly expiry today? Did you capitalize on the volatility or get trapped in it today? 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

Markets close in the red ahead of the Fed Meeting later in the night.

NIFTY opened the day at 17,338 and moved down. IT stocks kept pulling down the index and it made a day-low near 17,200. From here, slight recoveries were seen but last hour selling pulled the entire market back down. NIFTY closed the day at 17,221, down 103 points or 0.60%.

BANK NIFTY opened the day at 36,957 and moved sideways. It kept on finding resistance near 37,000 at yesterday’s high. Towards the closing time however, sharp selling was seen and Bank Nifty closed the day at 36,789, down by 104 points or 0.28%.

NIFTY PSU Bank(-1.3%), REALTY(-1.9%), MEDIA(-1.3%), METAL(-1.1%) and IT(-1%) indices moved down more than 1% each. Only NIFTY Auto(+0.49%) closed slightly in green.

Major Asian markets closed mixed today. All European markets are trading mixed currently.

News Picks

SunPharma (+2.5%) moved up in the day and closed as the top-gainer of Nifty 50. The stock was in the red yesterday when other pharma stocks moved up, and closed at December’s high today.

M&M (+1.1%) moved up after good commentary from brokerage firm CLSA. Other auto stocks including Maruti(+1%) and HeroMotocorp(+0.94%) also closed in green.

Bajaj Finance(-3%) and Finserv(-2.7%) closed among the top-losers again for the third day in a row. Meanwhile, Kotak Bank(+1.4%) closed in the green today after falling yesterday.

As oil prices slide slowly in the international markets, ONGC(-2%), BPCL(-1.8%) and IOC(-1.8%) closed in the red.

PayTM(-7.5%) opened with a big fall and moved back up after anchor investors’ lock-in ended today.

Nykaa(+5.6%) launched skincare brand Elemis on the global store and the stock moved up.

Reports are coming out of an upcoming announcement from TVS Motors(+1.4%) for electric vehicle strategy and alliance with BMW. The two-wheeler stock closed in green.

Markets Ahead

Another day in the red for NIFTY. Ahead of the weekly expiry and Fed Decision tomorrow, markets stayed cautious and slowly moved down.

Individual stock movements are currently less in NIFTY 50, but we can see in the daily charts that many major stocks are at support levels. You can look at Reliance, Bajaj Finance and Finserv as examples for stocks at their support levels.

If a significant decision is coming, we can expect a big gap-up/down opening in our markets tomorrow. You can keep a track of how the U.S. markets react to their announcement tonight. If there is no significant move at opening time, we can expect NIFTY to trade between 17,050 and 17,350 tomorrow. 

Open Interest in Bank Nifty is indicating a range of 36,500-37,000 for tomorrow’s expiry. An opening beyond this zone will trigger volatility, otherwise we can expect a sideways move.

But according to my expectations, a week where Bank Nifty stayed calm on Tuesday and Wednesday might lead to a volatile Thursday. Tell me what you expect in the comments down below!

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

Today’s Market Summarised

NIFTY closes in the red for 3rd straight day with mostly consolidation.

NIFTY opened the day at 17,300 with a gap-down and moved with volatility. The index took support at 17,225 and started moving up, and went up nearly 150 points to the day-high. With consolidation near the end, NIFTY closed the day at 17,325, down 43 points or 0.25%.

BANK NIFTY opened the day at 36,797 and consolidated. It kept moving sideways in a wide 200+ point zone till noon. A breakout was seen breaking the opening level but the index could not sustain above 37,000. Bank Nifty closed the day at 36,893, down by 31 points or 0.08%.

NIFTY MEDIA (+1.5%) and NIFTY PHARMA (+1.06) were the only indices moving more than 1%, while all others consolidated.

Major Asian markets closed mostly in the red today. All European markets are trading flat currently.

News Picks

Powergrid (+3.8%) once again shot up after some days of consolidation. It closed as the top-gainer in Nifty 50. The company will consider interim dividend tomorrow.

Divislab (+2.7%) and Dr Reddy’s (+1%) closed in the top-gainers of Nifty 50 as pharma stocks gained. 

Lupin’s(+6.6%) Goa manufacturing plant receives Inspection Report from USFDA without any regulatory action. The stock moved up. Pfizer India(+6.2%) moved up following the rally of the parent company’s stock in the U.S and reported that its vaccines could stop 70% Omicron hospitalisations in South Africa.

Axis Bank(+0.98%) closed in the green after positive management commentary while most other banking stocks consolidated. Kotak Bank(-1.7%) saw selling.

ITC(-2.5%) closed as NIFTY 50’s top-loser with an analyst meeting currently underway.

NMDC(-6%) moved down after a dividend payout of Rs 9/share. Hind Zinc(-7.9%) also moved down after payout of Rs 18/share dividend.

Indian Hotels(-2.5%) said cancellations have increased over the last 2 weeks due to Omicron. LemonTree(-2.8%), Chalet(-1.9%), TAJGVK(-1.5%) also moved down.

Shriram Transport(-6.2%) moved down after pressure from the merger announcement yesterday.

ABFRL(+6.4%) will acquire the exclusive online and offline rights to the global brand ‘Reebok’ for the Indian market.

BSE(+8.5%) continued its amazing breakout after the announcement of the NSE IPO. Stock is up more than 50% in the last 30 days. CDSL(+5%) also moved to all-time highs. 

Markets Ahead

NIFTY was pulled down on the day by Reliance, ITC and the Bajaj twins – Finance and Finserv. The Bajaj stocks are favourites among foreign investors along with HDFC which all moved down today. Reliance is near its 3-month lows after today’s fall. 

Bank Nifty was highly volatile even in its consolidation today. The Futures closed around the 37k mark.

India’s November Wholesale Food Inflation came out at 6.7% vs 3.06% in October, indicating increasing prices of items. It is at a level 14% higher than last year, much more than the forecast of 12%.

NIFTY struggled to gain back in the day. Futures took resistance near 17,400. There was also a Tsunami warning in the morning after a 7.3 strong earthquake hit Indonesia, which was withdrawn later.

How did the day 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 opened with a gap-up and moved down on the first day of the week.

NIFTY opened the day at 17,621 with a gap-up of more than 100 points. After consolidating in a 40 point zone for more than 1 hour, a fall was seen in the index till the end of the day. After a fall of nearly 300 points from day-high, NIFTY closed the day at 17,368, down 143 points or 0.82%.

BANK NIFTY opened the day at 37,382 and tried to move up. After consolidating in the morning. There was support taken at the level of 37,000, which was later broken. Bank Nifty closed the day at 36,925, down by 180 points or 0.49%.

All sectoral indices except NIFTY IT(+0.31%) closed in the red. NIFTY MEDIA(-1.8%), NIFTY PSU Bank(-1.3%) and NIFTY Realty(-1.3%) closed well in the red after moving up more than 2% up each on Friday.

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

News Picks

Axis Bank(+2.32%) opened with a gap-up and moved up through the day. It closed as the top-gainer in Nifty 50. Goldman Sachs upgraded the stock to a buy rating with a target of Rs 920.

TechM(+2.2%) closed among the top-gainers after hitting 52-week highs. Wipro(+1.1%), Coforge(+3%), LTI(+2.3%) and LTTS(+2%) moved up from NIFTY IT.

Bajaj Finance(-3.1%) and Bajaj Finserv(-2.1%) closed as the top-losers in NIFTY 50.

Tata Consumer(-2%) and Nestle India(-1.5%) fell on the day. Hindustan Unilever(-1.2%) is also trading near 9-month lows from the FMCG index.

China’s iron ore futures prices gained 7%. Metal stocks opened with a gap-up and mostly fell.

Idea(-5.4%), ZEEL(-3.4%), CAMS(-5.2%) and IEX(-3.4%) moved down on the day after last week’s rally.

Credit Access Grameen(+20% Upper Circuit) and Minda Industries(+10.2%) saw explosive breakouts to fresh-highs. 

Tega Industries got listed at Rs 760/share on NSE vs issue price of Rs 453/share, with a listing gain of 68%. It closed at Rs 726 , up 60%.

BSE(+0.47%), CDSL(+3.7%) and Siemens(+2.5%) were some stocks that hit record highs.

Gravita(+4.3%) moved up after commencing a new recycling plant at Mundra, Gujarat.

Shriram group will merge Shriram Capital Ltd (SCL) and Shriram City Union Finance Ltd(+5.9%) (SCUF) with Shriram Transport Finance Ltd(-1.9%). Shares reacted differently.

JK Paper(+1.9%) moved up after approving debt instruments aggregating to Rs 125 crores.

Nazara(+4.5%) moved up after subsidiary arm NodwinGaming acquired a 10% strategic stake in digital content IP company Rusk Media.

Markets Ahead

NIFTY turned bearish and saw selling after failing to break its opening zone. Even with the gap-up, and support from Banks, there was selling seen in the index at the top. It would have easily reminded you of the selling at top by institutions after buying in all the dips.

Reliance pulled down the index along with banks. NIFTY IT is near a breakout zone in its current channel and can be watched. Maruti is trying to continue its breakout and is at its highest level of December.

Asian markets were mostly in the green and helped in NIFTY opening with the gap-up. On Friday, there was no reaction from the U.S. index even after the country had high inflation data.  We will have to watch how the U.S. markets perform tonight.

Where do you think NIFTY will go? 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

Nifty and Bank Nifty closed the week above major supports.

NIFTY opened the day near 17,500 at 17,496 with a 40 points gap down. Similar to yesterday, the 17,530 level acted as a strong resistance and the Nifty started falling. Though Nifty took immediate support from 17,430s, it continued to fall till 17,400. From the market movements of this week, we can confirm that the 17,430-17,400 zone has been established as a good support zone for Nifty. From there NIFTY recovered more than 100 points and closed the day at 17,511, down by just 5 pts. 

BANK NIFTY opened the day at 37,128, then moved down and even broke the 37k support. It took support from the day high made on October 7, near 36,820. You can watch out for 36,880-36780 in the coming days as a crucial support zone for Bank Nifty. Both Nifty and Bank Nifty falling to the support zone at the same time was a good sign and recovery was easy. Bank Nifty closed at 37,105, up by 23 points or 0.06%.

Nifty Media(2.4%), Nifty PSU Bank(+2.6%), and Nifty Realty(+2.3%) closed with notable gains. All other sectoral indices consolidated.

Major Asian markets closed slightly in the red today. All European markets are trading flat to 0.3% in the red currently.

News Picks

Asian Paints(+3.3%) closed as Nifty 50 top gainer after it refuted all the allegations made by InGovern on related-party transactions yesterday. Other related stocks Berger Paints(+2.7%), Shalimar Paints(+2%), Kansai Nerolac Paints(+0.96%) also moved up.

All the PSU banks closed in the green on media reports saying that Banking Amendment laws will be considered in the current Parliament session. SBIN(+1.2%), Bank India(+4.2%), Canara Bank(+3.3%), Indian bank(+4.4%), Indian Overseas Bank(+5%), J&K bank(+4.5%) and Union Bank(+3.4%) gained in the day.

Nifty Media continued the bull run from yesterday with Dish TV(+4.3%), Hathway(+3.1%), NETWORK18(+18.6%), TV18BRDCST(+11.5%) closing in the green.

IndusInd Bank(-0.17%) closed flat despite RBI’s approval for LIC to raise stake up to 9.99% from the current 4.95%.

IEX(+9.4%) broke out with strong volumes ahead of the listing of bonus shares.

The shares of Rakesh Jhunjhunwala backed Star Health and Allied Insurance Company were listed at Rs 845 vs IPO price of Rs 900, a discount of 6%.

HFCL(-6%) has approved the issue and allotment of equity shares to 21 qualified institutional buyers at the issue price of Rs. 68.75 per equity share for a total of Rs 600 crores. Share prices moved down.

Credit Access(+14.3%) shares gave a big breakout along with IDFC First Bank(+5.2%). Both were bouncing back from important support zones.

Realty stocks were buzzing in the day led by DLF(+5.1%) and IB Real Estate(+5.8%) moving up. Godrej Properties(+2.6%) and Oberoi Realty(+3.3%) also gave breakouts.

Auto stocks mostly remained flat as India’s industry body said sales in November were lowest in 7 years for passenger vehicles, lowest in 11 years for two-wheelers.

Markets Ahead

A bullish close to the overall volatile week. Nifty gained for the second week in a row after November’s heavy fall.

Nifty Media marked its best week since September 26, 9% up from the last week. 

The market has been highly volatile but managed to close strong after major vaccine manufacturers said that 3 shots of vaccine can fight Omicron and a new vaccine will be ready in 3 months ‘if required’.

The Nifty touching 16,900 was a little bit alarming, but it recovered 600+ points from there, giving a lot of confidence to investors.

India VIX shot up above the 20 mark on Monday and then corrected 20% from there.

Bank Nifty created a strong green weekly candle after posting frightening red candles in the previous four weeks. ICICI Bank took support near 700 and moved more than 7% up.

Nifty Midcap and Smallcap reported their best week in over a month. This week, all the sectoral indices except Nifty Energy, IT and Pharma gained at least 1%.

In the coming days, we can mark 17,430-17,500 and 36,880-36,780 zones as important support regions for Nifty and Bank Nifty respectively. Nifty(17,500) and Bank Nifty(37,000) closing above crucial levels, give some light in the dark as confusion on Omicron also cools down. But, for the last many days’ global markets have been driven by Omicron news and it may continue.

Did you close the week in profits? 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

A considerably calm weekly expiry for the market with net consolidation being seen.

NIFTY opened the day at 17,534 with a gap-up again. From this level, it kept on falling down for more than an hour. After a 150 point fall, the index took support and slowly moved back up till the day-high. After the volatility but overall consolidation, NIFTY closed the day at 17,516, up by 47 points or 0.27%.

BANK NIFTY opened the day at 37,365 and moved down just like NIFTY. Even though the index crossed down below 36,900 at one point, it easily gained back up. The index of banks managed to stay above the 37k mark and BANK NIFTY closed the day at 37,082, down 202 points or 0.54%. 

NIFTY Media(+3.5%) gave another breakout in the day along with NIFTY FMCG(+1.4%). All other sectoral indices consolidated.

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

News Picks

ITC(+4.5%) shot up in the day after the company announced its first institutional investors and analysts day on December 14th.

Larsen and Toubro(+3%), Asian Paints(+2.2%) and Reliance(+1.5%) bounced back from important support zones and closed as the top-gainers in NIFTY 50.

HDFC BANK(-1.7%) shares moved down and pulled Bank Nifty down. IDFC First Bank(+1.8%) moved up despite Bank Nifty being in red.

Vodafone Idea(+14.6%) surged to a 52-week high after sources said that the company will be able to complete its interest payments obligations on its bonds this week.

SBI Cards(-6%) fell heavily after moving up more than 10% in 8 trading days.

Reliance(+1.5%) and some related stocks moved up in the day. Just Dial(+16.5%), Network18(+16.1%), Hathway(+8.7%) and TV18Broadcast(+7%) moved up in the day. Other media index stocks including ZEEL(+3.1%) and DishTV(+4.7%) also gained.

PVR(+2.4%) and Inox Leisure(+4.3%) continued to bounce back from their lows.

Burger King(+6.6%) shares moved up after its management meet. The CEO of the company said that they plan to open 700 restaurants in the country by 2026.

Sugar stocks mostly closed in the green led by Balrampur Chini(+4.1%), Renuka Sugar(+10%- Upper Circuit), Dalmia Sugar(+4.1%), and Triveni Engineering (+6%) moved up.

PayTM(+2.6%) shares moved up after its Payments Bank received scheduled bank status from RBI. 

Markets Ahead

A very calm weekly expiry after the week started off with high volatility. The week continued to follow the tradition that if a week starts off volatile, there is likely to be consolidation on Thursday.

But it was not perfect consolidation for intraday traders. Nifty opened with a gap-up, then crashed down and then gained back up and fell again. The index however closed slightly above yesterday’s high. It was kept in the green with the movement from ITC and Reliance.

Bank Nifty traded perfectly between yesterday’s high and low. In fact, the Bank Nifty Future traded between 37,000 and 37,500 very peacefully. Curiously, HDFC Bank fell. It would be interesting to note that HDFC Life and HDFC AMC are near their 52-week lows.

Still watching for the closing above 17,600 for NIFTY for a show of strengths by bulls. There is also the 50-day moving average around 17,800 which will have to be broken for an indication of bullishness to continue for longer.

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

Another day of green in the market with positivity continuing.

NIFTY opened the day at 17,319 with a big gap-up again. From there it kept on moving up and found resistance at 17,440. Towards closing time, even this level was broken and NIFTY closed the day at 17,470, up by 293 points or 1.71%.

BANK NIFTY opened the day at 37,055 with a gap-up and took support at 36,900. From here, there was power seen in the market. BANK NIFTY closed the day at 37,284, up 666 points or 1.82%. 

All sectoral indices closed in the green once again. Nifty Media(+2.5%), PSU Bank(+2.5%) and Auto(+2.3%) closed above 2% in the green.

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

News Picks

Bajaj Finance(+3.6%) and Bajaj Finserv(+3%) closed among the top-gainers of NIFTY 50. Both stocks are reaching their 50-day moving averages.

SBI(+3.1%) and ICICI Bank(+2.5%) also moved up from the financials sector.

Maruti(+3.4%) shot up after reports that the company is preparing a strong hybrid and EV portfolio for the coming years.

Hindalco(+3.3%) once again moved up after yesterday’s report of import duty on aluminium being increased. National Aluminium(+1.7%) also moved up. Other metal stocks including Jindal Steel(+3.6%), Tata Steel(+2.1%) and SAIL(+2.2%) also moved up.

Pharma stocks looked bullish across the day. Biocon(+6.2%), Granule(+4.8%) and AuroPharma(+4.2%) are in the green today.

MCX(+4.9%) moved up after reports that FIIs will soon be allowed to trade in the commodities F&O market. Other market-linked stocks including IEX(+2.8%), BSE(+5.7%) and CDSL(+1.5%) also moved up.

Markets Ahead

Markets moved up once again with good forecasts from the RBI today. In today’s meeting, the GDP growth forecast for Q3 is set at 6.6%. They also said various parts of the economy have already crossed pre-pandemic levels of output.

European markets look like they have cooled back down after multiple days of a 2% + rally. Auto stocks are also seeing a power along with NIFTY IT. Both indices are at breakouts.

One interesting thing to note is that Maruti had no certain EV and Hybrid Car plans yet. If it does announce one such plan in the coming days, the current lead by Tata Motors in the EV business could easily be covered. Maruti stock is also at the 50-day moving average line. If it gives a breakout, we can expect more moves from the stock!

FIIs continued to be net sellers in the week heavily. Domestic Investors are looking strong, continuing to buy up for thousands of crores. We can see how this shapes up by the beginning of the next calendar year.

For now, you can watch for a closing above 17,600 for NIFTY to see a continuation of strength by the bulls. It was the high made on the last week of November!

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

Today’s Market Summarised

Indian indices turn bullish following the global market rally.

NIFTY opened the day at 17,047 with a gap-up and moved down slightly. In the first few minutes of trade, the index took support at 17,000 and shot back up. From the day-low, a rally of more than 250 points was seen. With a slight correction near the end, NIFTY closed the day at 17,176, up by 264 points or 1.56%.

BANK NIFTY opened the day 36,087 with a gap-up and was bullish. It was in a mood to move up from the start and stayed bullish. BANK NIFTY closed the day at 36,618, up 882 points or 2.47%. 

All sectoral indices closed in the green. Nifty Metal(+3.1%) and Nifty Bank(+2.4%) rallied the most.

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

News Picks

Hindalco(+5%) shot up in the day after saying aluminium prices are up. Tata Steel(+3.6%) and JSW Steel(+2.7%) also followed the stock to close in the top-gainers of NIFTY 50. Also, the Govt is planning to increase customs duty on primary aluminium to 10% from the current 7.5%, which might boost aluminium sales.

Other metal stocks including Hind Copper(+10%), National Aluminium(+7.1%), SAIL(+4.7%) and Jindal Steel(+3.1%) also rallied.

Multiple banking stocks featured in the top-gainers including Axis Bank(+3.6%), ICICI Bank(+3.5%), Kotak Bank(+2.7%) and SBIN(+2.4%). All stocks from Bank Nifty closed in green.

Intellect Design(+2.4%) moved up after getting a deal from SBI deal.

Vodafone Idea(-5%) saw profit booking in the day after many days of rally. Meanwhile, beaten-down stocks from the last few days including PVR(+4.7%), Indigo(+4.6%) and DLF(+3.9%) moved up.

Gujarat Govt is set to consider removing liquor restrictions in Gift Gandhinagar to attract investors. UBL(+2%) and McDowell(+2%) moved up.

Dilip Buildcon(+6.9%) wins orders worth Rs 2683 crores.

Heavy Industries Ministry says BHEL(+1.9%) is increasing business rapidly. The company to supply ammunition to the defence sector. Stock prices moved up.

ADF Foods(+11.5%) shot up after winning an order from Patanjali to distribute their products in the EU and UK.

Markets Ahead

NIFTY reacted with strength to the bullishness shown in global markets. The European markets are in the green today as well after moving up 2% each yesterday.

Finance Ministry says FIIs have raised concerns on the transition to T+1 settlement. Wondering if the heavy selling for the past many months were following this concern. Since the government has acknowledged this situation, maybe they are also currently trying to solve the issue.

If it was, and we also see net buying by Foreign Investors in the cash market today, we can make a calculated guess that their buying would continue.

Only a few stocks from NIFTY 50 closed in the red today. A strong close above 17,200 would be necessary for short-term confidence in the market. And for Nifty to turn bullish, we would need a move above 17,600.

Do you think FIIs will turn net buyers today? Will the bullish rally continue? 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 moves down on the opening day of the week.

NIFTY opened the day at 17,216 and moved down from the beginning. The index tried to take support at 17,100 and consolidate but started falling again just before noon. After a heavy fall, NIFTY closed the day at 16,912, down by 284 points or 1.65%.

BANK NIFTY opened the day 36,268 and was volatile. After heavy up and down moves, the index decided to move down towards the closing time. After taking support at 35,700, BANK NIFTY closed the day at 35,735, down 461 points or 1.27%. 

All sectoral indices closed in the red with more than 1% fall each. NIFTY IT fell the most.

Major Asian markets closed in the red today. All European markets are trading slightly in the green currently.

News Picks

UPL was the only 1 stock from NIFTY 50 that closed in the green. It was the top-gainer last day.

Coal India opened with a big gap-down due to the Rs 9/share dividend. It closed as the top loser in NIFTY 50.

IndusInd Bank closed in the red, losing its gains from the last 2 days. Bajaj Finserv and Bajaj Finance also both moved down.

HCL Tech, TCS, TechM and Wipro closed among the top-losers of NIFTY 50. Other IT stocks also fell including LTI, Coforge, LTTS and Infy also dipped.

BEML continued to move up and hit fresh all-time after privatisation news.

Vodafone Idea also continued its rally while Airtel and IndusTower fell.

Markets Ahead

A red day in Indian markets with heavy selling by institutions resuming. What started with a flat opening in the morning saw NIFTY close at its lowest level since August. 

What was interesting is that there was no single big contributor to the fall. All stocks across major indices kept on moving down to pull the market further and further down.

During market hours, once Bank Nifty initially bounced back above the 36,000 level, there was heavy Put Option buildup at the 36k strike. The next time it was broken, a heavy fall was seen probably because of all these sellers running for cover. Bank Nifty closed near the day-low of 35,700.

Our intraday bearish level of 16,980 that we discussed on Friday gave a good move when broken. Our positional level of 16,800 still holds even though NIFTY is beaten down heavily today.

 Will the weakness continue as dip-buyers run out of money? Can DIIs continue to pump in thousands of crores every day? What do you think? 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

A bearish day in the market with many of yesterday’s gains being lost.

NIFTY opened the day at 17,433 and moved up in the beginning. But from the initial highs, the market started falling heavily. Towards the end of the day, a fall of nearly 300 points was seen from the top. NIFTY closed the day at 17,196, down by 205 points or 1.18%.

BANK NIFTY opened the day 36,516 and went up nearly 300 points. The index fell along with the rest of the market and tried to take support at 36,500. But once this level was broken afternoon, there was a heavier fall seen in the index. BANK NIFTY closed the day at 36,197, down 311 points or 0.85%. 

All sectors except NIFTY MEDIA closed in the red. NIFTY FMCG and NIFTY FINSERV closed with a more than 1% fall.

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

News Picks

UPL gained in the day and closed among the top-gainers in NIFTY 50. Parliament is looking to spend more than expected on fertilizer subsidies. Other chemical stocks also showed strength.

BPCL, ONGC and IOC closed in the green. The stocks are trying to gain back after the November fall.

PowerGrid fell in the day after closing as the top-gainer yesterday. Reliance also fell along with Kotak Bank, TechM and Asian Paints to close among NIFTY’s top-losers.

IEX had a stock split and gained 5% in the day. 

Idea(+14%) shot up once again near closing time. The stock gained after the government returned bank guarantees worth nearly Rs 12,000 crores to the company.

Except for SunTV and Inox, all Nifty Media stocks closed in the green today. Network18, PVR gained more than 3% each while ZEEL gained 2.16%.

Markets Ahead

NIFTY closed in red for Friday but has ended the week in green. In fact, NIFTY has ended a week in green after 2 weeks in red.

Reliance was the major contributor of bearishness to the market today. The stock is trading rangebound for many days now and took resistance at 2500 and support at 2400 today.

NIFTY is still in a sell on rise mood, with Foreign Institutional Investors continuing their heavy selling spree. DIIs are failing to keep up as funds are probably drying up as retailers book profits from mutual funds due to economic re-opening spending. You can read more about DIIs here.

NIFTY will only turn bullish now if it can break the high from last week. That level is somewhere around 17,600. The 50-day Moving Average is near 17,800. Both levels are important in the next phase of market movement. 

For a bearish view, you can watch out for 16,980 intraday and a close under 16,800 for positional trades. The best way to shield yourself from this situation is to spread out investments as we have been discussing! Hope you had a profitable week!

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

Today’s Market Summarised

A bullish day across the market with 47 stocks from NIFTY 50 closing in the green.

NIFTY opened the day at 17,188 and moved up. The zone between 17,280 and 17,340 saw a lot of consolidation with NIFTY moving sideways for more than 3 hours. After 2 PM, there was again some power and NIFTY closed the day at 17,401, up by 235 points or 1.37%.

BANK NIFTY opened the day 36,308 and was weaker than NIFTY. Throughout the day, its move was seen only in a 400 point zone. After taking 36,500 as resistance in the morning, the index managed to close above it with some last-minute positivity. BANK NIFTY closed the day at 36,508, up 143 points or 0.39%. 

NIFTY IT(+2%) saw major bullishness throughout the day. NIFTY FINSERV(+1.2%), METAL(+1.5%), MEDIA(+1.5%), FMCG(+1.1%) and AUTO(+1%) closed with more than 1% gains.

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

News Picks

Adani Ports(+4.4%) regained from this week’s fall and ended as the top-gainer in NIFTY 50. Other stocks from the group including Adani Ent(+2.3%) and Adani Transmission(+5%) also closed in green. 

Heavyweight HDFC(+3.8%) saw buying throughout the day as it bounced back from good supports. HDFC Bank(+1.4%) and HDFC Life(+1.6%) also moved up.

PowerGrid(+3.5%) continued to break out and hit all-time highs today.

As Ola Scooters booking crosses 10 lakh, Fiem Industries(+3.5%) moved up. They are a major supplier for Ola scooters. Another supplier, Gabriel(+4.4%), also moved up. Engineering company Greaves Cotton(+12.7%) which manufactures Ampere electric scooter also moved up.

BEML(+2.1%) rose to all-time highs after privatisation hopes but fell towards closing time. Another stock with hope Shipping Corp(+4.3%) also moved to a 52-week high. Other defence stock BDL(+2.6%) moved up after winning order worth Rs 470 crores.

Skipper(+16%) wins new orders of Rs 300 crores and shot up.

Power Minister says that coal stocks at power plants are improving in November. Coal India(+2.41%) moved up.

NMDC(+2.91%) said it plans to meet on Dec 3 for the declaration of interim dividend. The miner also saw a slight increase in production for November.

M&M Finance(+3.21%) moved up after positive commentary on the business. There is growth in loan disbursement to Rs. 2,500 crores, up 17% (YoY). The collection efficiency also rose to 94%(YoY).

BSE (+15%) saw a breakout to all-time highs. MCX(+4%) and CDSL(+6.62%) also moved up while CAMS(-2.26%) moved down. SEBI has approved NSE’s IPO at a valuation of Rs 2 lakh crores, making it one of the country’s most valuable companies!

Markets Ahead

A bullish Thursday just like last week. And interestingly, NIFTY has crossed the high from last Friday. That was the day markets fell heavily on Omicron variant fears. 

Today, the market was pumped up by HDFC and IT stocks. The IT index is taking support at 34,500 for the fourth or fifth time. In fact, you can plot a channel pattern in the index over the past many months which could get broken this time. NIFTY IT has been consolidating since September.

RDIF(Russian Direct Investment Fund) says its Sputnik vaccine for the Omicron variant should be ready in 45 days.

It looks like the market is stabilising currently as fears of Omicron is reducing. 2 cases have been reported in Karnataka and we will have to see how the market reacts to this tomorrow.

Even though NIFTY has shown strength and closed at the week’s high, Bank Nifty is still below Tuesday’s morning level. Keep a watch on IT stocks and Banking stocks as the market tries to stabilise. 

FMCG stocks are also at good valuations currently. Hindustan Unilever closed 1.8% in the green after bouncing back from an important support of Rs 2,300. Keep watch on it too!

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

Today’s Market Summarised

Indian markets break the extreme volatile trend of this week and move up.

NIFTY opened the day at 17,105 and moved up. Mostly there was consolidation seen in a wide zone. After 1:30 PM, sudden volatile movements pulled down the index to day-low then pushed it back up again. NIFTY closed the day at 17,167, up by 184 points or 1.08%.

BANK NIFTY opened the day 35,834 and was bullish through the day. Even though resistance was found near 36,200, this level was eventually broken Just like NIFTY, a fall was seen from the top to even below 36k. After consolidation, BANK NIFTY closed the day at 36,365, up 669 points or 1.88%. 

NIFTY METAL(+2.3%) and NIFTY PSU BANK(+2.6%) closed more than 2% in the green. NIFTY PHARMA(-1.6%) saw profit booking and FMCG(+0.19%) remained flat and all other indices gained more than 1%.

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

News Picks

IndusInd Bank(+5.7%) saw buying after an 8-day losing streak and closed as the top-gainer in NIFTY. The stock is still 25% down from its November high. SBIN(+3.2%) and Axis Bank(+3.6%) also featured in the gainers’ list.

Financial stocks generally showed bullishness; 18 out of 20 stocks from FIN NIFTY(+1.2%) closed in green.

Metal stocks closed mostly in green after falling heavily yesterday. JSW Steel(+4.7%) and Hindalco(+2.9%) closed in the top-gainers list. NMDC(+3.5%), SAIL(+2.5%) and Hind Copper(+3.5%) also gained.

Auto stocks also bounced back with mostly positive auto sales data coming out. Tata Motors(+3.6%), Maruti(+2.9%) and Eicher(+2.8%) gained.

There were reports that a decision on one-time spectrum charges is possible, it will be beneficial for Airtel and IDEA. Airtel(-0.84%) stayed flat while Idea(+15.8%) flew up towards closing.

GRSE(+6.3%) inaugurated a Dry Dock unit in Kolkata today and moved up.

Pharma stocks generally closed in the red today. CIPLA(-4.4%), Divis Lab(-2.5%), Dr Reddy(-1.4%) and SunPharma(-1%) closed among the top-losers of NIFTY 50. Glenmark(-4.2%), Alkem(-4.2%), Pfizer(-3.3%) and Cadila(-2.3%) also fell among others.

Biocon(+2.8%) moved up, breaking the pharma sector’s downtrend after entering Dow Jones Sustainability Emerging Markets Index.

BHEL(+1.9%) and HAL(+2.5%) moved up from the defence stocks.

Tata Power(+3.8%) moved up after receiving India’s largest solar and battery storage project worth Rs 945 crores.

Markets Ahead

A rather calm Wednesday compared to the last two days of the week. India’s November Manufacturing PMI came out at 57.6 vs 55.9 last month, showing expansion at a higher pace.

Also, India’s November gross GST revenue collection is Rs 1.32 lakh crores, up 25% (YoY). This could have given the market some positivity.

NIFTY has started the week in green, along with other global markets. However, NIFTY and BANK NIFTY are still trading below yesterday’s high. So currently, we cannot say that there is bullishness yet in the market.

Options data suggests that there is lesser fear of a fall in the market for the first weekly expiry of December. 

Keep spreading out your entries in good value picks!

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