Tag: Reliance share

Today’s Market Summarised

Markets pulled down by financials for a third day in a row after a gap-down.

NIFTY opened at 17,482 and tried to move up. This move was quickly rejected and the index fell more than 400 points from the day-high. It found support near 17,120 and moved back up towards the day-closing. NIFTY ended the day at 17,213, down 302 points or 1.73%.

BANK NIFTY opened at 38,684 and tested the day-high multiple times. Once it broke the 38,500 mark, the index fell more than 700 points easily. After taking support at the level of 37,800, Bank Nifty closed the day at 37,995, down 793 points or 2.05%.

Only NIFTY PSU Bank(+0.92%) closed in the green today while all other sectors fell. NIFTY Finserv(-2.57%), NIFTY Bank(-2.05%) and NIFTY FMCG(-1.98%) saw heavy selling.

Asian markets closed mixed in the day. European markets are also trading mixed currently.

News Picks

PowerGrid(+1.88%) closed as the top-gainer in NIFTY 50 along with ONGC ahead of its results on Wednesday.

Tata Consumer(-3.95%) continued to see profit booking after its results announcement last week. Britannia, ITC, Godrej CP and Hindustan Unilever also closed in the red from the FMCG sector.

HDFC Bank, HDFC Life and HDFC closed in the top-losers list of NIFTY 50 by falling more than 3% each. Kotak Bank and Bajaj Twins are also featured in the list. 

Lupin has now fallen more than 10% in 2 days after its disappointing Q3 results. All NIFTY Pharma stocks except Biocon(+1.95%) closed in the red.

Indigo(+9.91%) and Bank of Baroda(+6%) shot up after their Q3 results announcements on Friday evening. GNFC jumped 13% after profits more than doubled year on year.

NIFTY Metal closed flat with Ratnamani(+4%), Hindustan Copper(+2.72%) and Vedanta(+2.53%) closing in green and SAIL(-2.52%) falling.

Sugar stocks continued to rally after the positive budget announcement. Balrampur Chini, Eid Parry, Shri Renuka and Triveni jumped between 2-7% in the day.

Markets Ahead

NIFTY once again fell after breaking the 50-day moving average on Friday. The index is now once again close to the 17,000 mark.

Volatility index jumped back up as the market fell more than 300 points, in its worst days in two weeks.

The HDFC Twins alone pulled down NIFTY by 110 points today. With this, HDFC is only 3-4% away from its 52-week low, which if broken may give a more bearish move. HDFC Life is already at its 52-week low.

The SBI results failed to push Bank Nifty up even while it hit a small all-time high and took rejection. Bank Nifty is still outside its breakout triangle we discussed last week, and will only be considered weak if it breaks today’s low. And for Nifty, since the level of 17,250 is broken, we can watch the 16,950-17,000 zone as the next support.

The metals index is showing temporary strength. Keep an eye out for ONGC which is trading near its 2 and a half year high. Hoping that the market will stabilise soon along with our portfolios!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Markets close in the red for the second day in a row but still end the week well in the green.

NIFTY opened flat at 17,590 and fell more than 100 points. It quickly jumped back up to a day-high but cooled down from there. There was consolidation seen in a volatile zone afternoon and NIFTY closed the day at 17,516, down 44 points or 0.25%.

BANK NIFTY opened at 39,059 and moved up. After reaching just 150 points near yesterday’s high, it lost strength and fell more than 700 points to a day-low. The index found its bottom near 38,500 and bounced back slightly. Bank Nifty closed the day at 38,789, down 220 points or 0.81%.

Sectoral indices closed mixed in the day. NIFTY Realty(-2.76%), PSU Bank(-1.92%) and NIFTY Media(-1.89%) and NIFTY Auto(-1.05%) fell. Only Nifty Metal(+1.18%) closed well in the green.

News Picks

Hindalco(+2.44%) closed as NIFTY’s top-gainer reaching its highest since October. Peer stock National Aluminium(+0.90%)  is also at a similar level. Both companies are releasing their Q3 results tomorrow.

SunPharma(+1.18%)  closed at a fresh 52-week high in Nifty’s top-gainer. Divi’s Lab(+0.99%) is also up for the 6th straight session.

Torrent Power (+7.50%) closed with gains after its results announcement yesterday. 

ONGC (+1.25%) opened with a gap-up after it said they are planning to create a new subsidiary for its gas business.

Godrej Properties (-9.65%) opened with a big gap-down continuing its fall from yesterday after announcing their Q3 results.

Devyani International (-3.01%) saw volatility and fell after reporting Q3 consolidated net profit at Rs 63.1 crores, up 50% YoY.

Meanwhile, Venky’s (-8.78%) fell sharply after Q3 standalone net profit came in at Rs 21.6 crores, down 80% YoY.

CholaFin (+5.13%) hit an all-time high while M&M Finance (-3.69%) fell after their Q3 announcements earlier in the week.

Markets Ahead

Yesterday, NIFTY closed just at its 50-day moving average. And today, the index has closed below this mark. The market has been stretched out and is now in a cooling down mode.

The India VIX has posted its worst week since early December indicating that the market might go into a consolidation mode soon.

The U.S. and European markets moving down after multiple green days is also being seen. 

As the results of major Nifty 50 stocks are almost over, the market will start reacting better to technicals. SBI fell ahead of its results to be announced tomorrow, where a lot of hope is currently pinned.

On Monday, do watch out for the all-time high in SBI if it turns bullish. Bank Nifty is still showing strength compared to NIFTY but may slip if the results are not taken well by the market. 

Crude oil prices are putting a pressure on all points of our economy. Along with this, we are seeing heavy selling continuing from Foreign Institutional Investors into the second month of the year. This is also pulling the value of the rupee down, which may have more consequences for our import-heavy economy down the line.

Hope you had a good week in the market. Do you think the FII selling will ease after the forward looking 2022 Budget? Let us know in the comments down below!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Profit booking pulls down the market with NIFTY losing yesterday’s gains.

NIFTY opened flat at 17,776 and moved down. It tried to take support at yesterday’s low but fell after breaking this level. Sharp selling was seen in the last 2 hours. NIFTY closed the day at 17,560, down 219 points or 1.24%.

BANK NIFTY opened at 39,283 and took resistance at yesterday’s high. It kept taking resistance at this level of 39,400 and fell more than 500 points from here after 1 PM. Bank Nifty closed the day at 39,010, down 320 points or 0.81%.

NIFTY IT, NIFTY Realty and Finserv saw profit booking in the day.

Most Asian markets closed mixed for the day. European markets are all trading in the red currently.

News Picks

Two-wheeler stocks Hero Motocorp(+2.93%) and Bajaj Auto(+2.44%) hit their highest levels since November. TVS Motors(+4.97%) and Ashok Leyland(+1.57%) also moved up while M&M(-1.51%) fell after the January auto sales data.

HDFC(-3.26%) fell with profit booking after its Q3 results announcement yesterday.

NTPC(-3.19%) closed lower with dividend of Rs 4/share being factored in.

Godrej Properties(-6.42%) fell sharply in the day after announcing a net profit up 171% at Rs 39 crore.

IT stocks saw profit booking after bouncing back this week. LTTS(-3.93%), MindTree(-3.76%), Mphasis(-3.64%) along with Infosys(-2.72%) and TechM(-1.93%).

Tata Power(+0.5%) to set up stations at 150 Apollo Tyres outlets.

GAIL(+1.17%) touched a 2-month high after Q3 standalone net profit came at Rs 3,290 crores, more than double from last year. 

Sugar Production in Oct-Jan jumped 5.5% YoY and helped stocks like Balrampur Chini(+7.21%) move up.

Barbeque-Nation Hospitality(+3%) moved up after reporting Q3 consolidated net profit Rs of Rs 14.2 crores vs loss of 90 lakhs last year.

Markets Ahead

Our markets have calmed down after the multiple days of gap-up rallies. With today’s red candle, NIFTY has no more gaps to cover. 

On the first weekly expiry of February, Infosys and HDFC pulled down the market. They had contributed well in the last few days of the rally.

Auto stocks are showing strength in the last many days. Also, SBI is continuing to trade near the all-time high zone. Its results will be out on Saturday.

Did you make or lose money in the Budget week of 2022? Let me know in the comments section down below!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Markets move up again with financial stocks taking charge.

NIFTY opened at 17,707 with a big gap-up for the third consecutive day. It traded in a 70 point range before breaking out at noon. After more consolidation, the index formed another day-high near 17,800. NIFTY closed the day at 17,780, up 203 points or 1.16%.

BANK NIFTY opened at 38,752 with a gap-up and shot up. It quickly crossed the 39k mark and took support there. The index traded in a downward channel but saw a strong breakout after 2 PM. Bank Nifty hit its highest level since early November and closed the day at 39,330, up 825 points or 2.14%.

All sectoral indices closed more than 1% in green except NIFTY AUTO (+0.14%) . NIFTY PSU Bank (+3.4%), NIFTY Bank (+2.1%) and Fin Nifty (+1.9%) outperformed on the day. 

Most Asian markets closed in the green for the day. European markets are all trading in the green currently.

News Picks

Financials rocked the top-gainers of NIFTY 50 today. IndusInd Bank (+5.7%), Bajaj Finserv (+5%), Bajaj Finance (+3.3%) and HDFC Life (+3.25%) recovered from last month’s fall.

Kotak Bank (+3.2%) and HDFC Bank (+2.2%) kept their steady performance while Axis Bank (+2.8%) continued to its strongest closing since late October.

National Aluminium (+2.2%) to consider a second interim dividend on 7th February along with its Q3 results. The stock touched its highest level since October along with Hindalco (+0.58%) and NMDC (+3.4%).

PM Modi said today that India can be the global hub for gaming. OnMobile (+15.2%), Nazara Tech (1.6%) moved up

Some healthcare stocks moved up in the day with a boost from yesterday’s budget announcement. Lal PathLabs (+7.7%), Apollo Hospitals (3.4%) and Metropolis (+3.4%) moved up.

HDFC (+1.8%) closed at the day-high with power from its Q3 results announcement. Standalone net profit came out at Rs 3260 crores, up 10% YoY and better than estimates. 

Jubilant Foodworks (-4%) fell sharply after reporting Q3 consolidated net profit Rs 137 crores, up 10% YoY but below estimates.

Markets Ahead

Bank Nifty is showing clear strength in the charts with the level of 40k in sight soon. It has hit a multi-month high with the budget power. SBI is near its all-time high zone and might give more moves if it breaks out.

Tomorrow is the first weekly expiry of February and the crash in India VIX has already given option sellers good profits. So option buyers who go into gamble on Thursday will need to be extra careful.

This was the breakout we discussed yesterday in Bank Nifty.

Keep an eye on crude oil prices as they remain near a breakout zone. This will affect many stocks directly and indirectly in our market. 

I have SBI and Kotak in my portfolio from the banking sector. Do you have banks in your portfolio? If yes, which ones? Let us know in the comments down below.

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Budget day turned out volatile but uneventful by closing time.

NIFTY opened at 17,534 with a gap-up of 200 points for the second day. During the Budget announcement, the index was volatile and traded in a 170 point range. The big fall came after the announcement ended, and even that was regained by closing time.  After all this, NIFTY closed the day at 17,576, up 237 points or 1.37%.

BANK NIFTY opened with a big gap-up at 38,495. It traded in a 600 point range till 1 PM, but fell sharply when the day-low was broken. After 1100 points fell from the day-high, it regained most of this amount in less than 2 hours. Bank Nifty closed the day at 38,505, up 535 points or 1.4%.

NIFTY Metal(+4.5%) shot up in the day along with NIFTY Pharma(+2.2%). NIFTY FMCG(+1.9%), NIFTY Bank(+1.4%) and NIFTY IT(+1.5%) also moved up along with the Realty(+1.7%) index.

Most Asian markets closed in green for the day. European markets are all trading in the green currently.

News Picks

Metal stocks gave breakouts on the day led by Tata Steel (+7.5%), Hindalco (+4.5%)and JSW Steel (+4%) in NIFTY 50. Duty exemption on steel scrap was extended in the budget to benefit medium and small enterprises.

In general, metal stocks shot up with Jindal Steel (+6.5%), Vedanta (+5.1%) , SAIL (+4.9%), NMDC (+4.7%) and National Aluminium (+4.2%) also moving up.

With the capital expenditure increased by the Govt for the next Financial Year, cement and construction stocks also rallied along with the metal stocks. UltraTech Cements (+4.1%), L&T (+4.2%) and Shree Cements (+5%) moving up.

Grasim (+2.5%), Ambuja Cem (+4.1%), India Cements (+3.5%), Ramco Cements (+3%) and Dalmia Bharat (+6.7%) also moved up.

SunPharma (+6.8%) moved up after announcing Q3 net profit increase of 11% YoY to Rs 2,058 crores. The stock is near a 6-year high.

IndusInd Bank (+5.7%) bounced back from its fall yesterday and closed in the top-gainer with the market accepting its Q3 results.

BPCL (-4.5%) sees profit booking after reporting net profit at Rs 2,805 crores, up 47% YoY. IOC (-2.7%) and HindPetro (-7.2%) also fell. Oil marketing companies have also reduced commercial 19-Kg LPG cylinder cost by Rs 91 effective from today.

Tata Motors (-2.6%) also fell after announcing Q3 results yesterday. M&M(-1.8%) and Ashok Leyland (-1.5%) fell along with it.

TVS Motors (+3.2%) closed at the day-high after January total sales came 5% higher than last month, but still below estimates.

ITC (+3.4%) jumped to a 7-week high after cigarette and tobacco tax was left untouched in the budget.

Markets Ahead

Budget day came and went faster than expected! Click here to read our article on major announcements from the Budget 2022 including updates on Taxation in Cryptocurrencies and 5G rollout.

India’s January Manufacturing PMI expanded at a slower pace of 54 vs 55.5 in December. The January GST collection came in at Rs 1.40 lakh crore, the highest ever. This was presented during the Budget announcement, and the Finance Minister said this indicates financial recovery.

I am sure that the VIX crash of nearly 9% would have cost the option buyers a lot of money. Overnight positions or non-directional positions hoping big moves in NIFTY like last year would have yielded losses.

Bank Nifty has given a breakout in the daily charts, and may give a gap-up tomorrow. If it gives a good follow-up candle breaking today’s high, we may see the index moving up again. 

IT is recovering sharply from the January fall. Crude oil related stocks including Reliance may boost NIFTY in the upcoming sessions as raw material prices show strength.

Did you trade in the market today? If you did, how did it go? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Markets open with a gap-up and see volatility.

NIFTY opened with a gap-up at 17,308 with a gap-up of more than 200 points. The index kept taking support at 17,280 and found resistance at 17,400. After 6 hours of trading, it closed just above the opening level at 17,339, up 238 points or 1.39%.

BANK NIFTY opened at 38,108 with a big gap-up and fell. Support was found at Friday’s low near 37,650. The index consolidated after bouncing back to the opening ranges. Bank Nifty regained from Friday’s losses and closed the day at 37,975, up 285 points or 0.76%.

All sectoral indices closed in the green today. NIFTY Realty (+3.1%), NIFTY IT(+2.8%) bounced back while NIFTY PSU Bank (+2.9%) continued bullishness. NIFTY Auto (+1.8%), Pharma (+1.5%) and Media (+1.4%) also moved up.

Most Asian markets closed in green for the day. European markets are all trading in the green currently.

News Picks

IT stocks shined with good gains on the day. TechM (+4.8%), Wipro (+3.7%) and Infosys (+2.9%) closed among the top-gainers of NIFTY 50.

Mindtree (+7.5%), LTI (+6%) and LTTS (+2.4%) also moved up.

Tata Motors (+4.1%) closed among the top-gainers with results coming out today. The automaker posted a net loss of Rs 1,516 crores, better than estimates.

BPCL (+3.8%), Divislab (+2.4%), SBI (+2.8%) and others gained ahead of Q3 results announcements.

UPL (-1.7%) was trading in the top-gainers list but closed in the top-losers of NIFTY 50. It fell with profit booking after Q3 net profit at Rs 936 crores, up 15% YoY and better than estimates.

After a 91% YoY increase in Q3 net profits, Naukri (+11.2%) jumped up in the day.

PSU Banks once again outperformed with Canara Bank (+5.8%) leading gains. Indian Bank (+4.4%), Bank of Baroda (+4.1%) and SBI (+2.8%) also moved up.

Markets Ahead

VIX shot up more than 6% in the day ahead of the Budget day tomorrow. There is no concrete evidence to show that markets move up on Budget Days, but we can say for sure that tomorrow will be volatile.

PSU Banks are already showing strength in expectation of good outcomes in tomorrow’s budget. 

We are planning a Budget Article with live updates tomorrow, so be sure to tune into that!

Resistance at the level of 17,350 is still relevant along with today’s high. The support at the zone of 16,900 will be important for the week. 

IT stocks and banks are showing technical bullishness. Do you believe in this ahead of the ever important day tomorrow? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

The afternoon sell-off takes the market by surprise.

NIFTY opened with a gap-up at 17,237 and was highly volatile. After the initial 15 minutes, the market moved up to near 17,400 zone. When the European markets opened and started falling, NIFTY crashed down nearly 300 points from the day-high. NIFTY closed the day at 17,102, down just 8 points or 0.05%.

BANK NIFTY opened at 38,269 with a gap-up and hit a day-high. The level of 38,400 was not broken through the day and started falling around 1:30 PM. Once the support at 38,000 was broken, the index fell sharply. Bank Nifty closed the day at 37,689, down 292 points or 0.77%.

NIFTY IT(+1.1%) bounced back along with NIFTY Pharma(+1%) today. All other sectors ended with consolidation after the afternoon fall.

Most Asian markets closed mixed in the day. European markets are all trading in the red currently.

News Picks

NTPC (+3.8%) closed as the top-gainer of NIFTY 50 after opening with a gap-up, ahead of Q3 results today.

UPL (+2.3%) closed among the gainers with fertiliser stocks seeing buying ahead of Budget 2022. Deepak Nitrite (+4.4%), Tata Chemicals (+3.6%), Deepak Fertilisers(+5%-UC) and others also closed in the green. Chambal Fertilisers (-5%) fell after Q3 results.

Bharti Airtel (+1.2%) moved up after Google invested a total of nearly Rs 7,400 crores including the issuance of 7.11 crore equity shares.

LIC Housing Finance (+10.9%) moved up and recovered the last 3 weeks of fall after a strong set of earnings in Q3.

TVS Motors (-4.3%)  fell sharply after a gap-up after the company announced it is buying a 75% stake in a Swedish e-bike firm for $100 Million(~Rs 740 crores).

Kotak Bank (+0.48%) traded with volatility after announcing Q3 results today. Q3 standalone net profit came at  Rs 2,130 crores, up 15% YoY and in line with estimates.

Markets Ahead

No words for today’s market and the options premiums today. Just a sneak peek into how the next week might look for us. Interestingly, VIX fell slightly.

Levels for NIFTY remain the same for Nifty next week. Resistances at the level of 17,350 is the first to look out for. Support at the zone of 16,900 will be important for the week. 

Even with today’s slight fall, the technicals indicate strength in Bank Nifty. A breakout above 38,800 might see the index testing 40k mark soon.

Did you trade in today’s market or stay away? Any trades planned for the Budget week? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

A crazy volatile end to the monthly expiry with banks taking charge.

NIFTY opened with a gap-down at 17,070 and was highly volatile. After the big moves in the start, the index slowly went down till Tuesday’s low. A rally of more than 300 points was seen from the day-low, and NIFTY closed the day at 17,110, down 167 points or 0.97%.

BANK NIFTY opened at 37,114 with a big gap-down. It traded in a wide 400 point range till noon. After making a fresh low, banks fired up with huge. Once the day-high was broken, there was no looking back. A rally of more than 1,100 points was seen from low to high. Bank Nifty closed the day at 37,982, up 275 points or 0.73%.

NIFTY IT (-3.5%) once again had sharp selling while NIFTY Pharma (-1.8%) and NIFTY FMCG (-1.1%) also fell. NIFTY PSU Bank (+5%) closed with huge gains.

Most Asian markets are mostly closed in red. European markets are trading mixed currently.

News Picks

Axis Bank (+2.8%) closed as NIFTY’s top-gainer for the second day in a row after its results announcement yesterday. SBI (+2.7%) and Kotak Bank (+1.8%) also closed in the gainer’s list.

Midcap banks including RBL Bank (+6.3%), Federal Bank (+4.4%) and AU Bank (+2.3%) moved up.

All PSU Banks closed with good gains on the day. Canara Bank (+8.7%), Bank of Baroda (+5%), Union Bank (+8.9%), Indian Bank (+7.7%) and PNB (+4.4%)ended in the green. 

Maruti (+2.5%) continued to move up after its results while Cipla (+2.4%) also moved up after announcing good profits.

IT stocks saw heavy selling with HCL Tech (-4%), TechM (-3.6%), TCS (-3.2%), Wipro (-3.1%) and Infosys (-2.5%) closing in the top-losers of the day. 

Coforge (-7.9%), Mindtree (-6.3%), LTTS (-5%), LTI (-4.7%) and Mphasis (-4.1%) also fell from the IT space.

Torrent Pharma (-15.1%) fell heavily after its Q3 results today to close as the top midcap loser. IndiaMart continued to fall.

GMDC (+10%-UC) closed at upper circuit after reporting Q3 standalone net profit of Rs 150 crores vs loss Rs 3.8 crores last year.

TVS Motors (+1.4%) moved up after saying it will have an important press conference announcement at 5 pm today.

Markets Ahead

What a crazy monthly expiry for the market! Especially in the move of Bank Nifty, jumping 1000 points from day-low in just 2 hours.

Bank Nifty is seeing strength right now ahead of the budget. PSU Banks are showing special strength with the expectations of good budget announcements.

For Nifty, the level of 17,350 is to be watched out for first as resistance. The zone of 17,600-’650 is the next important resistance to be watched.

The fear factor shown by India VIX actually resulted in good volatility today. As the February month expiry starts, get ready for more moves due to results and the 2022 Budget.

Do you expect the breakout in Bank Nifty to continue? Let us know in the comments down below!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

NIFTY gains back from deep reds to close in green ahead of the Republic Day holiday.

NIFTY opened with a gap-down at 17,021 and fell heavily. Just in the first 5 minutes, the index bottomed out and went on to move up to 17,200. After a small fall and consolidation, the day-high was broken in the afternoon. NIFTY closed the day at 17,277, up 128 points or 0.75%.

BANK NIFTY opened at 36,647 and took support at yesterday’s low. Quick buying took the index up 900 points in 40 minutes followed by a 400 point fall. Yesterday’s high for the index was broken towards the end and Bank Nifty closed the day at 37,706, up 759 points or 2.05%.

Most sectoral indices closed in the green today. NIFTY PSU Bank(+4.2%), NIFTY AUTO(+2.3%) and NIFTY Media(+2.2%) closed well in the green. Only NIFTY IT(-0.33%) closed in red.

Most Asian markets closed in red, reacting to the global fall yesterday. European markets have all recovered and are now trading in the green.

News Picks

Maruti(+6.8%) closed as NIFTY’s top-gainer after announcing Q3 net profits of Rs 1,011 crore, a fall of 48% YoY but still better than estimates. It has given a breakout to fresh 52-week highs, do watch!

Hero MotoCorp(+2.8%) and Bajaj Auto(+2.5%) also featured in NIFTY’s top-gainers from the auto sector.

Axis Bank(+6.7%) shot up after announcing Q3 net profit up 224% to Rs 3,614 crores on better interest income and lower provisions. The stock moved up.

PSU Banks index(+4.2%) recovered after yesterday’s fall including a huge jump in share prices of SBI(+4.1%).

Deepak Nitrate(-6.2%) and IndiaMart(-14.2%) crashed down after disappointing Q3 results while Zeel(+7.7%) moved up in hopes of a good result today.

Sterlite Tech(+3.7%) announced a Rs 170 crore deal through a partnership with Powergrid Corp.

Zomato(+10%-UC) recovered from day-low near the lower circuit back to upper circuit.

Federal Bank(+4.3%) moved up after reporting Q3 standalone net profit at Rs 522 crores, up 30% YoY and above estimates.

Media reports that Google may subscribe to a preferential share issue by Bharti Airtel. Airtel (+3.1%) moved up.

Markets Ahead

Axis Bank and Maruti considerably pushed up NIFTY today after their results announcements. The results season helped in moving our markets up, along with a recovery in the global markets.

Just look at how the U.S. markets managed to close in green yesterday after trading in deep reds.

The Union Budget will be presented on February 1 at 11 am.

The support at 17,000 was taken out but for barely 20 minutes. Once the buying came, the level cemented itself as a good support for the upcoming sessions. The zone of 17,600-’650 is to be looked at as important resistance.

High options premiums were seen on both the calls and puts side, indicating that participants fear a big move.

Tomorrow is a market holiday on account of Republic Day. So what do you expect for the last Thursday of January? I feel that if global markets calm down over the next 2 days, all this ‘fear’ will go to waste and NIFTY will consolidate for Thursday.

But also, if there is a considerable move due to factors like inflation, gold prices, Ukraine tensions then Thursday might be tricky. It is because we will react to both tomorrow’s and day after’s international markets after being closed for Republic Day.

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

NIFTY crashes till 17,000 before taking support and closing more than 450 points in the red.

NIFTY opened with a small gap-down at 17,578 and fell. After breaking Friday’s low, the index moved down to 17,000 by 2PM. From this level, buying started and a decent recovery was seen. NIFTY closed the day at 17,149, down 468 points or 2.66%.

BANK NIFTY opened at 37,603 and fell more than 300 points. The index tried to bounce back from 37,000 but failed to do so. A further fall of more than 600 points was seen. Bank Nifty closed the day at 36,947, down just 626 points or 1.67%.

All sectoral indices closed in the red. NIFTY Realty (-5.9%), NIFTY METAL (-5.2%) fell more than 5% each! NIFTY Media (-4.5%), NIFTY IT (-3.4%) and NIFTY Auto (-2.6%) also fell heavily.

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

News Picks

Cipla (+2.8%) closed as NIFTY’s top-gainer after Credit Suisse upgraded the stock to outperform.

ONGC (+1.25%) gains as the subsidiary says Brazil deep sea gas block is commercially viable.

Bandhan Bank (+4.1%) gained after Q3 net profits jumped 46% YoY.

JSW Steel (-6.6%), Tata Steel (-6%), Hindalco (-5.5%) fell sharply from the metal sector. 

HDFC AMC (-4.6%) fell after net profit came at Rs 360 crores, down 3% YoY and slightly below estimates.

Markets Ahead

A day of heavy fall again in the market. NIFTY crashed to near the 17k mark with selling all around.

When the market opened flat despite SGX NIFTY being in red, there was a hope of buying in the market. But this was erased after the index quickly broke Friday’s low.

Bank Nifty closed below the 37k mark. NIFTY has wiped out all the gains from January. In fact, it is in red for the month. A fall of 1200 points in NIFTY in just a week!

Reliance falling 4% after a stellar Q3 net profit was interesting. The next key level to look out for as support is 17,000 and then 16,850. A close above 17,650 will be looked at a sign of recovery by the market.

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

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

NIFTY ends in red again for the worst week in 2 months.

NIFTY opened with a gap-down at 17,637 and fell. The index saw selling as it opened under the important support of 17,650 but then bounced back. After 1 PM, there was a heavy fall of nearly 200 points which again saw a bounce towards the close. NIFTY closed the day at 17,617, down 140 points or 0.79%

BANK NIFTY opened at 37,576 and fell. On multiple occasions, the index kept on taking support at 37,220. In the last 30 minutes, the index jumped from the day-low back to the day-high. Bank Nifty closed the day at 37,574, down just 276 points or 0.73%.

NIFTY MEDIA (-3.4%), PSU BANK (-3%) and REALTY (-2.3%) saw heavy selling on the day. NIFTY Pharma (-1.5%) and IT (-1.6%)  continued their fall.

Asian markets closed mostly in the red today. European markets are all currently trading in the red.

News Picks

Bajaj-Auto (+3.3%) bounced back after yesterday’s fall to close in the top-gainers. Hero MotoCorp (+1.5%) and Maruti (+1.9%) also closed in the top-gainers again.

FMCG stocks also reversed today. Hindustan Unilever (+2.8%) gained after announcing growth in Q3 net profits. Nestle India (+1.2%) also moved up. 

Bajaj Finserv (-5.3%) closed as the top-loser in NIFTY 50 again after yesterday’s results announcement.

Polycab (-6.3%) fell sharply after announcing Q3 consolidated net profit at Rs 247 crores, down 5% YoY.

Kajaria Ceramics (-5.9%) fell after reporting net profits of Rs 122 crores, with no growth from last year.

Markets Ahead

Markets saw selling to close the week more than 2% in the red. NIFTY has fallen nearly 600 points since opening on Wednesday. 

I expected global markets to bounce back from yesterday’s heavy fall. Even the U.S. markets were in the green after opening yesterday but they couldn’t hold gains and fell.  The trend in the international markets pushed down ours as well.

The buying in the last 30 minutes was unbelievable, especially in Bank Nifty which went from day-low to day-high. Still, the volume-weighted average of the last 30 minutes of trade is used and hence this did not reflect in the final closing prices. 

Even with the index opening and closing the day at the exact same price, it is now under the support of 17,650 due to the gap-down. The 50-day EMA is also broken. So do watch out for bearishness and keep in mind that FIIs are heavily selling in the cash market again. 

Also, don’t forget that the upcoming Budget might cause volatility. Even though key levels are broken, I would prefer to stay away from taking a bearish bet on the market. 

What do you think? Will our markets turn bearish in the last week of January? Let us know in the comments of the marketfeed app!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

A weekly expiry with heavy selling pressure and lots of volatility!

NIFTY opened flat at 17,943 and started falling. The index tried to bounce back at multiple levels, but kept on seeing selling pressure. In the last hour of trade, there was a more than 100 point rally. Still, NIFTY ended the day at 17,757, down 181 points or 1.01%.

BANK NIFTY opened at 38,153 and traded with volatility. Once the level of 38,000 was broken, it faced trouble finding bullish momentum. Just as we hope on a Thursday, there was heavy selling at 1 PM and a trend reversal at 2 PM. Bank Nifty closed the day at 37,850, down just 190 points or 0.50%.

Most sectoral indices closed in the red led by a fall in NIFTY Pharma (-1.6%), IT (-1.6%) and FMCG (-1.1%).

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

News Picks

PowerGrid (+4.9%) saw institutional buying in the opening hour and towards the close. It ended as NIFTY’s top-gainer of the day.

Bajaj Finserv (-4.5%) saw selling pressure throughout the day, and more selling once its Q3 results were announced. Q3 net profit stood at Rs 1,200 crores, lower than estimates but still higher than last quarter by around 20%.

Along with this, Bajaj Auto (-3.7%) saw selling after reporting a 21.9% YoY fall in its net profit at Rs 1,214 crore for Q3.

Money was pulled out from IT and Pharma stocks with Divislab (-3.4%), Infosys (-2.3%), TCS (-2.2%), Dr Reddy (-2%) and HCL Tech (-2%) closing among the top-losers.

FMCG also continued the downtrend with Godrej CP (-3.7%), Hindustan Unilever (-2%), Nestle (-1%) and Marico (-1.3%) closing well in the red. Hindustan Unilever said that the consumption level has fallen due to inflation but posted a 16% YoY increase in net profit to Rs 2,243 crores after the market closed.

Tata Consumer(+0.8%) stayed in green after Morgan Stanley upgraded the target price of the stock.

With a stunning rally of 50% in the last 15 trading days, Adani Green (+1.4%) is now the 15th largest company in the country with a market cap of over Rs 3 lakh crore. The stock started seeing buying after the Hydrogen power news that we discussed at the end of December.

Markets Ahead

Our markets were affected by the global weakness with rising bond yields and profit booking. 

The breakdown of 18,000 yesterday did indeed indicate bearishness and the trend reversal probably led to more fall today. Do you remember which level we had discussed as a crucial reversal point for NIFTY when it was in the 16,000 ranges?

We had talked about the 50-Day Exponential Average and the level of 17,650 multiple times in December. Today, the index took support at these two exact levels. From here, we can expect an end to this bearish rally and a bounce back towards the budget week.

Similarly, Bank Nifty has taken support at an important level of 37,600. But do remember that if these two levels are broken and closed below in the upcoming sessions, we may see a bearish move.

Noticing the silent rally in Adani stocks ahead of the budget? Someone is taking huge bets on the group hoping for positive news!

How did Thursday trades go for you? Let me know in the comments down below!

See you on The Stock Market Show at 7 PM!