Tag: reliance

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Daily Market Feed Pre Market Report

Can Markets Continue the Bullishness? – Pre Market Analysis Report

What Happened Yesterday?

NIFTY started Friday flat at 19,258. Right from the first candle, the index moved up with strength and shot up over 200 points. NIFTY closed at 19,435, up by 181 points or 0.94%.

BANK NIFTY started the day flat at 43,996 and fell a bit. But it soon found strength and showed a solid upward rally of more than 700 points. BANK NIFTY closed at 44,436, up by 446 points or 1.02%.

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

What to Expect Today?

Asian markets are trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in green at 19,566.

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

NIFTY has supports at 19,400, 19,300 and 19,240, 19,100. We can expect resistances at 19,438, 19,560, 19,650 and 19,720.

BANK NIFTY has supports at 44,277, 44,150, 43,830 and 43,680. Resistances are at 44,600, 44,800 and 45,000.

FIN NIFTY has supports at 19,730, 19,620, 19,500. We can expect resistances at 19,800, 19,900, 20,000.

NIFTY has the highest call OI build-up at 19,500 and 19,550. The highest put OI build-up is at 19,300. PCR is at 1.25.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI build-up is at 44,000. PCR is at 1.15.

FINNIFTY has the highest call OI build-up at 19,900. The highest put OI buildup is at 19,200 and 19,500. PCR is at 1.15

Last week, Foreign Institutional Investors net-bought shares worth Rs 487 crores. Domestic Institutional Investors net-bought worth Rs 2,294 crores last week.

INDIA VIX fell to 11.36.

NIFTY created a good bullish green candle on Friday. It completely engulfed Thursday’s candle but found resistance at the week’s high of 19,450.

However, Bank Nifty closed 350 points away from Wednesday’s high. FINNIFTY is also moving with identical patterns.

Will have to see if Kotak shares react as Uday Kotak resigned 4 months ahead of the earlier plan. Hopefully, it will not.

In the last many weeks, Friday’s trade has been an indication of how the next week might go. This Friday closed well in the green with good put selling in the market.

This gives an early indication that short-term bullishness exists. Expecting a bullish closing today.

In Friday’s job report, the US added more jobs than expected, but the unemployment rate hit the highest level since February 2022. Markets didn’t react too much.

Crude oil prices have also given a breakout and moved up to $88/barrel. Watch out Reliance for a positive move, and paint stocks for a negative move.

The Fed Interest rate hike decision is coming in the middle of September. Market participants are expecting no rate hikes, hence the recent positivity.

Let’s hope the positivity continues in the market for this week!

Follow along with Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) trades for the week. You can check out the marketfeed app or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 p.m. on our YouTube channel. All the best for the day!

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Market News Top 10 News

India’s Manufacturing PMI Hits 3-Month High in August – Top Indian Market Updates

Here are some of the major updates that could move the markets on Monday:

India’s manufacturing PMI hits 3-month high in August

India’s manufacturing sector expanded significantly in August 2023, reaching a 3-month high. The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) stood at 58.6 in August, compared to 57.7 in July. The expansion in manufacturing activity was supported by the rise in new orders last month.

PMI is a month-on-month calculation, and a value above 50 represents an expansion compared to the previous month.

Read more here.

Auto sales data for August 2023: Highlights  

Maruti Suzuki India posted a 14.5% year-on-year (YoY) increase in total sale sales to 1.89 lakh units in August 2023. Sales of its mini & compact vehicle segment fell 9.7% YoY to 84,660 units. Exports rose 14.6% YoY to 24,614 units.

Tata Motors Ltd registered a 3% YoY fall in passenger vehicle sales to 45,933 units in August. The automaker’s total commercial vehicle sales rose by 1.9% YoY to 32,077 units.

Mahindra & Mahindra’s total passenger vehicle segment posted total sales of 37,270 units in August, an increase of 25% YoY. Tractor sales are up 1% at 21,676 units. However, its tractor exports fell 26% YoY 1,029 units. 

TVS Motor Company’s total two-wheeler sales stood at 3.32 lakh units in August, up 5% YoY. Meanwhile, Bajaj Auto’s total sales fell 15% YoY to 3.42 lakh units.

Read more here.

India’s GST revenue rises to Rs 1.59 lakh crore in August, up 11% YoY

India’s Goods and Services Tax (GST) revenue increased 11% YoY in August 2023. The month saw a collection of ₹1,59,069 crore in gross GST revenue, highlighting the steady economic recovery and tax compliance. Central GST (CGST) accounted for ₹28,328 crore, while State GST (SGST) amounted to ₹35,794 crore. Integrated GST (IGST) collections stood at ₹83,251 crore.

Read more here.

Bajaj Auto’s finance subsidiary secures RBI’s NBFC licence

Bajaj Auto Ltd’s wholly-owned subsidiary Bajaj Auto Consumer Finance Ltd has received a licence from the Reserve Bank of India (RBI). The license is to launch a non-banking finance company (NBFC). However, Bajaj Auto Consumer Finance Ltd can’t accept public deposits from the public. The company’s core objective is to offer financing solutions exclusively for vehicles manufactured or endorsed by Bajaj Auto and its associated entities.

Read more here.

Muthoot Finance hikes stake to 59% in microfinance subsidiary for ₹43 crore

Muthoot Finance Ltd has acquired an additional 2.05% stake in its subsidiary Belstar Microfinance Ltd in a cash deal of ₹43 crore. Following the acquisition, Muthoot’s total shareholding in the Tamil Nadu-based microfinance company has increased from 56.97% to 59.02%. In 2017, Muthoot Finance acquired a 53% stake in Belstar as part of its diversification strategy. 

Read more here.

PVR Inox breaks box office collection record in August

PVR Inox posted the highest-ever monthly admissions and Box Office (BO) month of all time in August 2023. The company recorded a gross box office revenue of  ₹532 crore. In the previous month, the multiplex achieved a footfall of nearly 190 lakh. This was driven by Hindi films, including Gadar 2, OMG2, and Dreamgirl 2. Jailer, Rocky aur Rani ki Prem Kahani, and Hollywood’s Oppenheimer also added to the achievement.

Read more here.

Reliance launches ‘Campa Cricket’ ahead of marquee tournaments like World Cup

Amid the ongoing men’s cricket tournament Asia Cup and the upcoming Men’s ODI cricket World Cup, Reliance Consumer Products Ltd (RCPL) has launched a cricket-themed drink, Campa Cricket. In a move to expand its beverage portfolio, the company plans to launch in several states, including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat, Maharashtra, West Bengal and Uttar Pradesh.

Read more here.

Coal India output grows 13% to 52.3 MT in Aug

Coal India Ltd (CIL) posted a 13.2% growth in its output at 52.3 million tonnes (MT) in August 2023, compared to 46.2 MT in the year-ago month. The supplies rose to 59 MT in August, registering a rise of 15.3%. In FY2023-24 so far, the company produced 281.5 MT, posting an 11.1% year-on-year growth.

Read more here.

BSE share buyback price raised to ₹1,080 per share

BSE’s board approved an increase in the offer price for its proposed share buyback and also fixed the record date for the same. The share buyback price has been increased to ₹1,080 per share from ₹816 per share earlier. BSE’s board also fixed the record date for the proposed share buyback at September 14, 2023. The buyback is payable in cash for an aggregate maximum amount not exceeding ₹374 crore.

Read more here.

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Daily Market Feed Pre Market Report

Trend Defining Day for Next Week! – Pre Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,375 with a small gap-up of and fell immediately. It shot back up to the day-high then fell again, and this volatility kept on repeating. By the evening, NIFTY had fallen and closed at 19,253, down by 93 points or 0.48%.

BANK NIFTY started the day flat at 44,265. After the initial volatility, it took resistance from 44,400 levels and fell nearly 500 points. In between, there were recovery attempts, but the selling continued. BANK NIFTY closed at 43,989, down by 243 points or 0.55%.

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

What to Expect Today?

Few Asian markets are trading mixed.

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

GIFT NIFTY is trading flat at 19,424.

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

NIFTY has supports at 19,240, 19,200 and 19,100. We can expect resistances at 19,300, 19,360 and 19,400.

BANK NIFTY has supports at 43,950, 43,830 and 43,680. Resistances are at 44,151, 44,277 and 44,520.

NIFTY has the highest call OI build-up at 19,400. The highest put OI build-up is at 19,200. PCR is at 0.70.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI build-up is at 44,000, with a good straddle buildup. PCR is at 0.68.

Foreign Institutional Investors net-sold shares worth Rs 2,973 crores. Domestic Institutional Investors net-bought worth Rs 4,382 crores.

INDIA VIX increased to 12.06.

Adani stocks were under pressure yesterday due to fresh allegations that the promoter group pumped up stocks using foreign entities.

Bank Nifty also came under good selling pressure and kept on falling on every rise.

The U.S. markets have also broken a 4-day losing streak and closed in red. The month of August closed in red for our markets as well as most international ones.

Friday’s are turning out to be trend-defining days for the rest of the week.

From today, weekly expiries in BANK NIFTY will be on Wednesday. So do keep in mind that premiums would move differently.

There is still a gap to be filled for NIFTY between 19,240 and 19,200. My expectation is that a bounce will come from this zone, preventing NIFTY from falling deeper.

But trades will be taken based on other factors as well for the day, including support resistances and open interest data. The opening move is likely to be bearish.

We are starting the week with Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Monthly Expiry is Here. Will the Volatility Continue? – Pre Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,433 with a good gap-up of 90 points. It tried to move up and even cross the day-high in the morning but fell sharply after 2 PM. NIFTY closed at 19,347, up by 5 points or 0.02%.

BANK NIFTY started the day at 44,706 with a gap-up of 211 points, and mostly consolidated. In the morning itself, the day-low was broken. And the afternoon, it fell sharply to the week’s low. BANK NIFTY closed at 44,232, down by 262 points or 0.59%.

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

What to Expect Today?

The Asian markets are trading mostly in the green.

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

GIFT NIFTY is trading flat at 19,372.

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

NIFTY has supports at 19,300, 19,240, and 19,200. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,150, 43,950 and 43,830. Resistances are at 44,277, 44,520 and 44,600.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. PCR is at 0.75.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI build-up is at 44,000. PCR is at 0.57.

Foreign Institutional Investors net-sold shares worth Rs 494 crores. Domestic Institutional Investors net-bought worth Rs 1,323 crores.

INDIA VIX is slightly lower at 11.80.

Both smallcap and midcap indices hit their all-time highs yesterday. 

Meanwhile, we saw afternoon falls in major indices – NIFTY and BANK NIFTY, contributed by HDFC Bank and ICICI Bank. 

Markets fell due to bad economic data in Europe. But the fall was more sponsored by the aggressive BANK NIFTY put sellers getting in trouble, with PCR moving from 1.03 to just 0.57.

As today is the monthly expiry, we can expect a good trading range in the market. Expecting some good volatile moves today and tomorrow for the market. 

Just like yesterday’s aggressive put sellers, there are strong call sellers in the market today. But for short-covering to be seen 44,400 and 44,500 would need to be broken.

Expecting a trading range between 44,000 and 44,400 to start off the day in BANK NIFTY, but will be a bit cautious for bigger moves. Looking at 19,300-19,500 in NIFTY. Positions will be taken even further from expected trading ranges.

Let’s see how the market makers take things up for the first half of the day!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Where to for Thursday? – Pre-Market Analysis Report

What Happened Yesterday?

NIFTY started the day at 19,374 with a gap-up of 68 points. The index immediately fell back and consolidated in a 50-point range. NIFTY closed at 19,342, up by 36 points or 0.19%.

BANK NIFTY started the day at 44,655 with a gap-up of 160 points. Just like NIFTY, the index also fell at first then consolidated in a 120-point range. BANK NIFTY closed exactly at yesterday’s closing price of 44,495.

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

What to Expect Today?

The Asian markets are trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,425.

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

NIFTY has supports at 19,300, 19,240, and 19,200. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,277, 44,150 and 43,950. Resistances are at 44,520, 44,600 and 44,800.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. PCR is at 0.82.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI build-up is also at 44,500. PCR is at 0.90.

Foreign Institutional Investors net-bought shares worth Rs 65 crores. Domestic Institutional Investors net-bought worth Rs 305 crores for the week.

INDIA VIX is slightly lower at 12.25. 

FIIs have returned to the market as buyers but bought for a mere 65 crores. Markets have not lost their bullishness as shown by both smallcap and midcap indices trading near all-time highs.

Hope yesterday’s trading day in FINNIFTY went well. As it did not turn out to be a big movement day, Tuesday was a good day for option sellers. 

I still have an eye out for a good breakout in the market. Some factors that align well is the expected volatility of BANK NIFTY for the monthly expiry, and FIIs returning as net buyers.

Even with this expectation, we still have positions running in the market according to the current market conditions. Only when a move is confirmed, trades will be taken accordingly.

Reliance has filled a gap it created while moving up in July. HDFC BANK has also silently moved up. Let’s see if it will turn out to be an interesting expiry or another consolidating one!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Volatile FINNIFTY Expiry? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Sun Pharmaceutical said it expects high single-digit revenue growth for FY24.

NBCC India bagged a work order worth Rs 66.32 crore from the Indian Medical Association, for IMA House Delhi.

Indiabulls Housing Finance has repaid Rs 1,112.5 crore of bonds, which was availed in August 2013. 

What Happened Yesterday?

NIFTY started the day at 19,298 with a small gap-up of 32 points. After initial consolidation, it broke the day-high afternoon and moved up. But Reliance AGM pulled it back down, and NIFTY closed at 19,306, up by 40 points or 0.21%.

BANK NIFTY started the day flat at 44,253. The index showed strength contributed by HDFC Bank and moved up 400+ points from the intraday low of 44,200. BANK NIFTY closed at 44,494, up by 263 points or 0.6%. 

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

What to Expect Today?

The Asian markets are trading in the green.

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

GIFT NIFTY is trading slightly flat at 19,342.

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

NIFTY has supports at 19,240, 19,200 and 19,120. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,277, 44,150 and 43,950. Resistances are at 44,520, 44,600 and 44,800.

FINNIFTY has supports at 19,700, 19,620 and 19,550. Resistances are at 19,800, 19,850 and 19,900.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,300. PCR is at 0.85.

BANK NIFTY has the highest call OI build-up at 44,500. The highest put OI build-up is also at 44,000. PCR is at 1.06.

FINNIFTY has the highest call OI buildup at 19,900. There is high put OI buildup at 19,700. PCR is at 1.08.

Foreign Institutional Investors net-sold shares worth Rs 1,392 crores. Domestic Institutional Investors net-bought worth Rs 1,264 crores for the week.

INDIA VIX is higher, at 12.39, the highest closing since May. 

Reliance AGM created volatility in the stock, as expected. But what was unexpected was the solo show by HDFC Bank which took up Bank Nifty consistently throughout the day.

August has been a very happening month, just look at BANK NIFTY’s 2,000+ point trading range to understand. And now as we move into the last few days of August, I am expecting more volatility. 

Now when we look at BANK NIFTY, both HDFC Bank and Kotak Bank are trying to bounce back after recent falls. Important buy levels are currently being respected and contributing to moves in the market.

So for this FINNIFTY expiry today, I am expecting a trading range of 19,600-20,000. Only if the premiums are too low, you can look at closer strikes with strict SLs in place.

I am expecting FIIs to return to the market this afternoon and push it higher, if European markets continue to be in the green. Watching for a breakout in the major indices.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

Reliance AGM 2023: Highlights – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Reliance AGM 2023: Highlights

Reliance Industries Chairman Mukesh Ambani made a range of important announcements, spanning from Jio True 5G to Jio Smart Home Services and changes in the company’s board structure, during the 46th Annual General Meeting (AGM) of the company.

Jio Bharat Launch: Mukesh Ambani announced the introduction of the affordable Jio Bharat smartphone at just ₹999.

Jio AirFiber Launch: Jio AirFiber will be launched on the occasion of Ganesh Chaturthi, on September 19.

Smart Home: JioHome is a mobile app that enables you to navigate on your television connected to the Jio Set-top Box.

Changes in Reliance Board: Mukesh Ambani confirmed that he will continue as Chairman and Managing Director for the upcoming five years. Nita Ambani has resigned from RIL’s board. Isha, Akash, and Anant Ambani joined the company’s board.

Reliance Retail: Ambani welcomed the Qatar Investment Authority as a valued investor in Reliance Retail, who invested $ 1 billion for a 1% equity stake. This investment values Reliance Retail at ₹8.28 lakh crore.

Jio Financial Services to enter the insurance space.

Read more here.

SEBI’s probe faults Adani group on disclosure rules

An investigation of the Adani Group by the Securities and Exchange Board of India (SEBI) has uncovered violations of rules on disclosures by listed entities and limits on the holdings of offshore funds. SEBI launched the inquiry after U.S.-based Hindenburg Research raised governance concerns around the Adani Group. The conglomerate had denied wrongdoing in January. The Supreme Court, which is overseeing SEBI’s investigation of the Adani Group, will hear the matter on Tuesday.

Read more here.

Reliance Retail to take Campa brand global

Reliance Retail will take its Campa brand global, starting with Asia and Africa. Campa, which competes with global cola makers Coca-Cola and PepsiCo in India, will be the first homegrown cola to be taken overseas. In April, Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures, entered into a strategic partnership with beverage can and filling company Ceylon Beverages to co-pack and manufacture Campa soft drinks.

Read more here.

Schaeffler India to fully acquire Koovers for Rs 142.4 crore

Schaeffler India Ltd will fully acquire KRSV Innovative Auto Solutions Pvt Ltd for ₹142.4 crore. Bengaluru-based KRSV Innovative Auto Solutions (which operates under the brand Koovers) offers spare parts solutions to Indian aftermarket workshops via a B2B e-commerce platform. The transaction would be completed in the third quarter of CY 2023, subject to customary closing conditions. 

Read more here.

BPCL to spend $18.16 bn in oil, green energy over 5 years

Bharat Petroleum Corp plans to invest $18.16 billion over five years to grow its oil business and expand its renewable energy portfolio as it aims for a 2040 net zero goal. The company has set a planned capex outlay of around $18.16 billion in the next five years, which will enable it to create long-term value for our stakeholders while preserving our planet for future generations.

Read more here.

Sterlite Power bags green energy transmission project in Rajasthan

Sterlite Power has secured a green energy transmission order for Rajasthan Phase-III (20GW). The project includes the construction of a 350km 765Kv electricity transmission corridor. The project has three integral components — a 350 km 765kV transmission corridor connecting the renewable energy zone of Fatehgarh III to the substation at Beawar, construction of a 3000 MVA 765/400kV Substation at Beawar and the construction of two LILO lines, covering approximately 120 km.

Read more here.

TVS Motors to invest Rs 3,900 crore to boost green portfolio

TVS Motors will invest ₹3,900 crore over the next four to five years to boost its green portfolio. The company is eyeing a larger share of business from global and electrics. The company counts broadening its relationship with BMW as one of the key pillars of its future vision. It will also aggressively pursue new product launches individually and also through its acquisitions, such as British motorcycle brand Norton Motorcycles, which it purchased in 2020 as well as the Swiss E-Mobility Group (SEMG).

Read more here.

Patel Engineering, JV bag Rs 3,637 crore contract from NHPC

Patel Engineering Ltd (PEL) along with its joint venture (JV) partner have bagged a ₹3,637 crore order from NHPC in Arunachal Pradesh. PEL’s share in the contract is ₹1,818.56 crore. The partnership will be a 50:50 one and the contract includes the construction of headrace tunnels including intake, pressure shafts, penstocks, powerhouse and transformer cavern.

Read more here.

Glenmark recalls 1,200 bottles of generic hypertension drug in the US

According to the US Food & Drug Administration (USFDA), Glenmark Pharmaceuticals is recalling 1,200 bottles of a generic drug, used to treat high blood pressure, in the American market due to a manufacturing issue. The New Jersey-based arm of the drug firm is recalling 1,200 bottles of Trandolapril and Verapamil Hydrochloride extended-release tablets. The affected lot has been manufactured at the pharma company’s Goa plant.

Read more here.

Venus Remedies gets marketing approval for anticoagulant drug in Saudi Arabia

Venus Remedies has received approval to market Enoxaparin in pre-filled syringes in Saudi Arabia. The drug is used to prevent blood clots. The company has received the marketing approval Venus Remedies Ltd has an annual capacity for producing more than 50 lakh units of Enoxaparin. The company sold enoxaparin syringes estimated to be worth USD 7.8 billion in 2021. The market is expected to grow to USD 13.1 billion by 2031 at a 10-year compound annual growth rate (CAGR) of 5.4%.

Read more here.

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Daily Market Feed Post Market Analysis

Markets Back to Supports! Reliance Falls 1% Amid AGM – Post-Market Analysis

NIFTY started the day at 19,298 with a gap-up of 32 points. Initially, the index faced a small resistance near the 19,300 level and fell till Friday’s low. Then, it gradually moved to 19,360 levels (more than a 115-point rally), where it took resistance. The index slowly fell back to 19,300 levels over the last 1½ hours (during Reliance’s AGM). Nifty closed at 19,306, up by 40 points or 0.21%.

Nifty chart August 28 - post-market analysis

BANK NIFTY (BNF) started the day at 44,253 with a small gap-up of 22 points. After the initial consolidation, Bank Nifty moved up nearly 410 points from the intraday low of 44,200 to 44,610— crossing the important resistance of 44,500. BNF closed at 44,494, up by 263 points or 0.6%. 

Bank Nifty chart August 28 - post-market analysis

All indices except Nifty IT (-0.46%) and Nifty FMCG (-0.23%) closed in the green. Nifty Realty (+0.94%) moved up the most. 

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

Today’s Moves

PowerGrid (+2.69%) was NIFTY50’s top gainer on the back of strong volumes.

Indiabulls Housing Finance (+10.99%) surged. Recently, the company repaid ₹2,232 crore of external commercial borrowings (ECBs) raised in 2018 from foreign banks.

Reliance (-1%) was NIFTY50’s top loser. The company held its Annual General Meeting today. The next generation of Ambani family – Isha, Akash and Anant Ambani – will join the board of RIL. Mukesh Ambani will remain as the Chairman for 5 years.

Brightcom Group hit a 5% lower circuit after the Enforcement Directorate (ED) carried out multiple searches at various locations of the company.

Markets Ahead

Markets took support from the lows created on Friday and gave a small retracement. As the markets were under huge selling pressure, there was not enough strength to see a quick up-move. But the indices are holding the low levels.

Nifty: The index has closed above the important resistance of 19,300. That level can now act as immediate support. But the major support will be the 19,240 zone. And if there’s a gap down or flat opening below 19,300, 19,240 levels will be tested again, and the index might even fall to 19,100 and 18,900 levels.

Meanwhile, the immediate resistance to look out for will be today’s high of 19,360. A breakout from there can give us targets of 19,420 and 19,475. 

Bank Nifty: The index couldn’t close above 44,500, but the buying strength is still there. If there’s a gap-up opening or flat opening followed by an up-move, the index can move further up to 44,950 levels. In that case, the support zone to watch will be 44,500 levels. If there’s a gap down opening or negative movement after opening, BNF can fall to 44,200 levels (which was today’s swing and there’s also a trendline support drawn from last week’s low).

Markets have not turned bullish completely and major resistance of 19,500 in Nifty and 45,000 in Bank Nifty have to be crossed to expect a reversal. Till then, the indices can be sold in every uptick.

Fin Nifty: Being Fin Nifty expiry tomorrow, the important support zone to watch is 19,500-520 levels. The important resistance is 19,900. A breakout from today’s high of 19,800 will take the index to 19,900 and eventually to 20,000 levels. A breakdown from 19,740 levels will take the index down to 19,600 levels and can be choppy in this zone.

What levels are you watching out for FIN NIFTY expiry? Let us know in the comments section of the marketfeed app.

marketfeed wishes all our readers a VERY HAPPY ONAM! 🌼

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Daily Market Feed Pre Market Report

Green Opening Loading. Watch out for Reliance AGM! – Pre-Market Analysis Report

jio financial services pre-market report | marketfeed

Here are some of the major updates that could move the markets today:

Stocks

Reliance Industries will be in focus ahead of the 46th annual general meeting(AGM) today. It will be at 2 PM.

The removal of Jio Financial Services from Sensex and other BSE indices has been postponed to September 1st. It will be taken off from NIFTY 50 on August 29th.

BEL has received new defence and non-defence orders worth Rs 3,289 crore during July and August. BEL has now received orders of Rs 11,380 crore in current financial year.

What Happened on Friday?

NIFTY started the week at 19,320 and slowly moved up till Wednesday. On Thursday, the market opened with a big gap up and hit an intraday high of 19,584 before falling heavily. Friday saw a gap-down opening and another weak closing. NIFTY closed the week at 19,265, down by 55 points or 0.28%.

BANK NIFTY started the week at 43,935 with a small gap-up. After two normal days, Wednesday was a big green candle day in the index. After hitting a weekly high of 44,949 on Thursday, the index fell back sharply by nearly 1,000 points. BANK NIFTY closed the week at 44,496, up by 296 points or 0.67%. 

U.S. markets closed in the green on Friday. The European markets also closed slightly in the green.

What to Expect Today?

The Asian markets are trading in the green.

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

GIFT NIFTY is trading slightly in green at 19,272.

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

NIFTY has supports at 19,240, 19,200 and 19,120. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,150, 43,950, 43,840. Resistances are at 44,520, 44,600 and 44,800.

FINNIFTY has supports at 19,550 and 19,500. Resistances are at 19,700, 19,735 and 19,800.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.67.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.81.

FINNIFTY has the highest call OI buildup at 20,000. There is high put OI buildup at 19,600. PCR is at 0.86.

Foreign Institutional Investors net-sold shares worth Rs 4,638 crores in the week. Domestic Institutional Investors net-bought worth Rs 1,414 crores for the week.

INDIA VIX is higher, at 12.08. 

Markets worldwide are in the green as Fed Chair Jerome Powell pointed to signs of continued economic growth and strong consumer spending but indicated that the central bank would “proceed carefully” with additional interest rate hikes.

Reliance’s AGM is expected to bring in volatility to the stock. Do watch out for crazy moves, in fact, avoid it if you can at 2 PM.

This week is already expected to be volatile, so let’s see what happens with today’s gap-up. There is heavy call writing near the spot price for NIFTY, so it will be interesting to see how the market behaves in case of a gap-up.

Considering all international markets are green, we can expect NIFTY to show bullishness today. A close above 19,400 is essential to display stability.

Bank NIFTY and FINNIFTY are currently showing more strength than NIFTY. So do watch out for afternoon strength in these indices.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or our website for trades!

Make sure you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

RIL May Sell 8-10% More in Rel Retail Ventures to Fund Expansion – Top Indian Market Updates

Here are some of the major updates that could move the markets on Friday:

RIL may sell 8-10% more in Rel Retail to fund expansion

Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt, and prepare for the initial public offering of its retail business. This process will likely happen in over 12-15 months and will be critical for the proposed IPO by the holding company of Reliance’s retail operations.

Read more here.

PFC to provide ₹4,528 crore loan for DVC project in West Bengal

Power Finance Corporation (PFC) has entered into a pact with Damodar Valley Corporation (DVC) to provide ₹4,527.68 crore loan to set up a 1,320 MW project at Raghunathpur, West Bengal. The Raghunathpur Phase-II project will contribute significantly to the power generation capacity in the state. With a combined capacity of 1,320 MW, the project marks a key milestone in the region’s energy landscape.

Read more here.

Suzlon secures 201.6 MW wind energy project order

Suzlon has secured a large order for a 201.6 megawatts (MW) wind energy project from Teq Green Power XI, a part of O2 Power. The company will supply the wind turbines (equipment supply) and execute the project, including erection and commissioning. The project is expected to be commissioned in 2025.

Read more here.

NCLT approves Ramkrishna Forgings’ bid to acquire Amtek Group arm

The National Company Law Tribunal (NCLT) has approved Ramkrishna Forgings’ bid to acquire Amtek Group’s listed subsidiary JMT Auto through the corporate insolvency resolution process. Ramkrishna Forgings agreed to offer ₹125 crore to acquire JMT Auto against its admitted financial liabilities of over ₹165 crore. The resolution plan was not objected to by any of the stakeholders.

Read more here.

Garden Reach partners with DEMPO Group to build commercial vessels

Garden Reach Shipbuilders and Engineers Ltd (GRSE) has signed a Memorandum of Understanding (MoU) with DEMPO Group to build commercial vessels in three premier shipyards of DEMPO at Goa and Bhavnagar. This is GRSE’s first attempt to diversify in a big way in commercial shipbuilding to capture a large market share in the construction of commercial vessels, both domestic and international.

Read more here.

HPCL meets up to 23% of oil needs with Russian grades

Hindustan Petroleum Corp Ltd (HPCL) is meeting up to 23% of its oil needs through discounted Russian grades. HPCL’s Russian oil intake is limited by the configuration of its refineries. The company is maximising the use of these cheaper so-called opportunity crudes. HPCL operates a 190,000 barrel per day (bpd) Mumbai refinery in Maharashtra and a 300,000 bpd Vizag refinery in Andhra Pradesh. 

Read more here.

Indian Oil to invest $30 billion to achieve 2046 net-zero target

Indian Oil Corporation Ltd (IOCL) plans to spend $30 billion to achieve its net-zero operational emissions target by 2046. The company also plans to invest over ₹1 lakh crore to expand its refining capacity by a third to 107 million metric tonnes per annum. Indian Oil is partnering with Italy-based Snam to explore the possibility of converting the existing natural gas pipelines for hydrogen transportation.

Read more here.

Lupin gets USFDA approval to market Pirfenidone tablets

Lupin has received approval from the US Food & Drug Administration (USFDA) to market Pirfenidone tablets in the American market. The drug is used in the treatment of lung disease. As per IQVIA MAT data, generic versions of Pirfenidone tablets had estimated annual sales of USD 218 million in the US.

Read more here.

L&T, HAL could potentially bid on privatisation of India’s SSLV

According to a Reuters Report, Larsen & Toubro (L&T) and Hindustan Aeronautics (HAL) are among companies expected to potentially bid in India’s efforts to privatise its small satellite launch rocket. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO) as a low-cost means to launch satellites weighing up to 500 kg into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in.

Read more here.

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Daily Market Feed Pre Market Report

Global Markets Down Ahead of Fed Chair Speech – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Paytm’s promoter Antfin is likely to sell a 3.6% stake today at a floor price of Rs 880.10 per share.

Astra Microwave Products has bagged orders worth Rs 158 crore for the supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and other Defence PSUs.

The Government of Singapore bought Amber Enterprises shares worth Rs 113 crores via open market transactions.

Telecom data for the month of June showed both Reliance Jio and Airtel adding subscribers, while Vodafone Idea continued to lose subscribers.

What Happened Yesterday?

NIFTY started the day at 19,535 with a gap-up of 91 points and moved up. But from the day-high, it gave a fall of 200 points and gave a very bearish closing below 19,400. NIFTY closed at 19,386, down by 57 points or 0.29% 

BANK NIFTY started the day at 44,704 with a gap-up of 225 points. After the initial strength, the index fell 500 points from the day’s high to 44,430 levels. BANK NIFTY closed at 44,496, up by 17 points or 0.04%. 

U.S. markets closed in the red. The European markets closed flat to red.

What to Expect Today?

The Asian markets are trading in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in red at 19,275.

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

NIFTY has supports at 19,360, 19,300 and 19,240. We can expect resistances at 19,400, 19,438, and 19,500.

BANK NIFTY has supports at 44,277,  44,150 and 44,100. Resistances are at 44,600, 44,800 and 44,950.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.59.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.86.

Foreign Institutional Investors net-bought shares worth Rs 1,524 crores. Domestic Institutional Investors net-bought worth Rs 5,796 crores.

INDIA VIX is at 11.70. 

Yesterday was a very volatile day in the market. Early short covering and then heavy selling came and took the markets down heavily.

Huge block deals also kept FII buying numbers in the green, despite the market falling.

The U.S. market also opened well in the green after good results but fell heavily towards the end of the day. Markets around the world are looking ahead to an important speech from Fed Chair Jerome Powell at Jackson Hole.

Big stocks, including Reliance, showed a lot of volatility yesterday. Note that the Crude Oil prices are cooling down internationally.

I hope you kept your capital safe in yesterday’s tricky moves. Congrats to whoever came out profitable. 

We expect an even crazier monthly expiry next week, with a volatile trading session today!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Post Market Analysis

Nifty Falls Ahead of Jackson Hole Meeting. Bearishness to Continue? – Post-Market Analysis

NIFTY started the day at 19,535 with a gap-up of 91 points (above the important psychological round level resistance of 19,500). It moved with a lot of strength to 19,580 levels, where the index made an evening star pattern, and gave a fall of nearly 200 points to 19,370 (day’s low)— not respecting any supports in between and gave a very bearish closing below 19,400. Nifty closed at 19,386, down by 57 points or 0.29% 

Nifty chart August 24 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,704 with a gap-up of 225 points. Similar to Nifty, Bank Nifty also moved up with a lot of strength initially to 44,950 levels. That level acted as resistance, and the index fell 500 points from the day’s high to 44,430 levels.  BNF closed at 44,496, up by 17 points or 0.04%. 

Bank Nifty chart August 24 - post-market analysis | marketfeed

Nifty PSU Bank saw a decline of 0.65% today, while Nifty IT (+0.6%) gained the most.

Major Asian markets closed up to 2% in the green. European markets are currently trading in the green.

Today’s Moves

BPCL (+1.87) was NIFTY50’s top gainer. 

Indiabulls Real Estate (+10.45%) surged on the back of strong volumes.

Coforge (+9.72%) zoomed after 1.54 crore shares (26% stake) of the company changed hands in a block deal.

Stocks of companies related to the Chandraayan-3 mission Paras Defence & Space Tech (+6.07%), MTAR Tech (+3.8%), and others moved up with strength.

Reliance (-1.68%) was NIFTY50’s top loser. However, reports indicate that experts are optimistic about RIL stock in the wake of QIA’s investment in Reliance Retail.

Brightcom Group (-4.98%) continued its sharp fall. Yesterday, SEBI barred the company’s CEO and CFO from the Board of Directors due to alleged financial fraud. The stock has crashed ~15% in 5 days.

Markets Ahead

As said in our earlier post-market reports, Bank Nifty is looking stronger than Nifty. Today, while Nifty was crashing, Bank Nifty was holding strong. However, both indices have given a closing below major support zones— 19,400 in Nifty and 44,500 in Bank Nifty.

Nifty: Today, the index took support near 19,350-360 levels, and that can be viewed as immediate support. Breaching of these levels can give us targets of 19,300 and 19,250 on the downside. The immediate resistance to watch out for will be 19,400-420 levels. The upside move can be slow after the huge sell-off. But if 19,400 is crossed, 19,500 can be re-tested and the down move could continue.

Bank Nifty: The bearish head and shoulder pattern in Bank Nifty is intact, and the index couldn’t give a closing above it. BNF has been under selling pressure. Now, the immediate support/resistance will be 44,500 levels as the markets have closed just near it. If the market stays below 44,500 levels, 44,200 will be the first target, and 44,000 will be the second target. On the upside, BNF can face multiple rejections. So, wait for confirmation for bullish trades.

Being an expiry today, 19,500 put sellers who sold after the gap-up opening got trapped as markets reversed from there and fell. For non-directional option sellers, it was comparatively easier to manage as puts were gradually increasing. But a directional market is never good for non-directional option sellers, so they must have been a slight loss.

All eyes will be on Federal Reserve Chair Jerome Powell, who is headlining the Jackson Hole conference on Friday. He is expected to outline the US Fed’s positions on rate adjustments and inflation in the near term, among other things.

How was expiry day trading? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.