Tag: Stock market

Today’s Market Summarised

Nifty witnessed a huge intraday fall but closed flat for the day with high volatility. After once again opening with a huge gap-up at 15381, market kept going up for the first 20 minutes to touch a fresh all-time high of 15,432. It fell from that level to take support at the opening range, but broke that level for good after 11 am. Then there was no looking back. 

Just ahead of 2 pm, Nifty touched a low of 15,242, down 190 points from the day high. If you remember, we had marked 15,240 as an important line. Open the charts and you will understand. Nifty then recovered a bit to close at 15,313, down just 1 point or 0.01%.

Bank Nifty too opened with a gap-up but fell sharper than Nifty. After opening at 37,550, Bank Nifty quickly jumped up to create newer highs with the help of private banks. But this was not sustained and the index fell after crossing the opening range with a big red candle. 37,000 acted as support but even this was broken with the index falling even further. The index fell nearly 1,000 points intraday.

Bank Nifty recovered a bit to close just at 37,098, down 207 points or 0.56%.

Nifty Metal closed as the best performing sector in the day, gaining nearly 2.9%. PSU Banks index closed 1.6% up. No other sector closed more than 1% up in the day. Nifty IT fell 1.5% in the day, with no other sector closing more than 1% down.

European markets are all trading flat, taking rest after multiple days in green. Those Asian markets which were open also traded in the flat to the green zone.

News Picks

PSU energy and power stocks including ONGC, PowerGrid and NTPC featured as the top-gainers in Nifty 50. IOC also featured in the list of gainers.

Shares of Axis Bank and ICICI Bank featured as the top losers today, after being the top gainers yesterday. Like childhood friends, they continue to move together pulling Nifty down by 33 points. They helped in Bank Nifty’s fall today even as Kotak Bank(up 1.7%, crossed Rs 2,000 zone) and HDFC Bank(up 0.62%) stayed in the green.

RBL Bank and Bandhan Bank shot up through the day, with good volumes even as Bank Nifty fell. Once again reminding you that midcaps will perform when the major indices are consolidating. 

PSU Banks moved up in the day, with their index closing strongly in green when Bank Nifty fell. Bank of India, along with Central Bank, Maharashtra Bank and IOB all closed 20% up just today! They jumped up on hopes of privatisation by the government. None of them have weightage in Bank Nifty, hence they did not contribute.

Tata Steel and Hindalco closed among the top-gainers after many days of needless falls. They helped in pushing the metal index up. Steel consumption is about to go up with the Ministry of Road Transport and Highways issuing orders for the usage of any different types of steel for the construction of highways. Jindal Steel also gained 7.79% in the day. SAIL gained 3%, along with National Aluminium and NMDC.

Shares of Reliance gained today to close above Rs 2,050. It was going up in the morning while Nifty was falling. Contributed 17 points to Nifty today.

Apollo Hospitals gained 3.6% again after the company’s positive results last day.

Shares of Naukri fell 7.7% as the IT sector remained bearish. Profits of the company have been falling for 5 quarters in a row, but the stock will surely continue its rally back up after finding support. Only 3 out of 7 stocks in the Nifty IT index closed in green. 

Shares of Adani Enterprises was up nearly 5-6% intraday, even touching the Rs 800 mark. It fell to close in the green, above 2% up for the day.

Shares of Trent went up more than 7% today. You can check out the article we wrote on the company yesterday, here.

Shares of HEG and Graphite India again went up in the day, gaining more than 15% each. These companies build important components in the manufacture of batteries and will be useful in the Electric Vehicle revolution. Shares of Tata Power also went up 4%.

Markets Ahead

Just as expected Nifty closed flat for the day. And again as expected it was a good volatile consolidation. I believe that the primary reason for Nifty’s consolidation today was the lack of cues from the US markets yesterday, which were closed. The analysis that Nifty would touch 15,400 by this expiry worked anyway. Helped in managing my swing and options positions accordingly.

The breakout in Kotak Bank looks interesting. Study the charts. Also Adani Ports seems to have broken out of a long uptrend move, and might see some consolidation before further movement. Might be a good point for investors if you could catch a dip in the stock.

Currently, as we speak, US Futures are trading with a premium. If this is sustained, then we might see Nifty gain some strength again tomorrow.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Just as we discussed last day, if everything does go well over the weekend, Nifty would be touching fresh highs. And it has indeed touched fresh highs. After opening with a gap-up in the day at 15,270 above the all-time highs, Nifty consolidated for a while as different sectors worked to keep the index at the level but soon broke out. After trading in a tight 90-point range, Nifty closed bullish at 15,314, up 151 points or 1% for the day.

Unlike Nifty, Bank Nifty was bullish throughout the day. Every stock from the index closed in green today with the index of banks moving nearly 1,000 points from the day’s open. Last day the index had ended at a good high and was surely going to bullish today. After creating higher highs, Bank Nifty closed the day at 37,306, up 1197 points or 3.32% for the day. It was the top-gaining sectoral index.

Bank Nifty once again closed as the top-gaining index, closely followed by Nifty Financial Services at 2.87%. Realty gained more than 1.5%. No sector closed more than 0.5% down in the day.

European markets are all trading in the green. Those Asian markets which were open also traded in the green.

News Picks

Shares of Axis Bank and ICICI Bank mainly pushed Bank Nifty up. The stocks have been continuously rallying for the past many weeks. ICICI Bank is at all-time highs, and Axis Bank took resistance at its all-time high today. Can be watched in the coming days as well.

HDFC Bank rallying up more than 2% also did well for Nifty today. The stock has also touched its new highs today and is in uncharted territories along with Bank Nifty.

Tata Motors closed up 2.4% in the day as a confident company said future models of Jaguar will be built exclusively on a pure electric architecture. JLR is generating a lot of free cash flow and aims to be net-debt free by 2025.

Motherson Sumi continued its rally from Friday and closed up nearly 7% for all the reasons we had discussed, including great results and positive commentary.

After reporting a 49% year-on-year increase in net profits to Rs 134 crore, Apollo Hospitals jumped up to close more than 12.5% up in the day. 

Shares of Chola Finance gained more than 13.7% in the day to touch fresh highs. Many financial companies performed well in the day, as was Ti Investments India, another company from Murugappa Group also hit their new high today, up nearly 6%. 

Many Adani Group companies again performed well in the day with Adani Enterprises closing more than 6% up. Adani Transmission closed more than 8.5%. But a correction was seen in all the group stocks near the end of the day.

Shares of Amaraja Batteries closed nearly 6% down as the earnings numbers from the company failed to excite the markets.

Markets Ahead

Another day of gains for Nifty, and such a happy sight as well seeing Bank Nifty back to power again after the consolidation. We all know and had talked about what would happen once a stock/index consolidates. It will give a strong move to one side, and Bank Nifty flew up today. 

Bulls were testing out and looking to outperform and so they did. Also, just as we discussed in the pre-market report today, FII favourite stocks were very likely to perform today. Bank Nifty and Nifty has gained closed near their day-highs saying that we may see more up move.

And HDFC, HDFC Bank and Airtel performed with the exception of Reliance. You can look into the top gainers from Nifty 50 today and see that high holding by Foreign Institutional Investors(FIIs) would be a common theme in most of them, including Bajaj Finance and Axis Bank.

Also last Friday, we had talked about how Adani Enterprises was on the list of Top 50 companies by market cap in India. With the rally taking it to higher highs, will we maybe even see it on Nifty 50 soon? That would actually mean a lot of funds potentially flowing in to the stock.

Check out our article on Trent, and see why it may be the Tata Group’s next multi-bagger stock.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty once again consolidated in the day closing the day with just losses of 10 points. The index opened the day with a small gap-up and after some violent consolidation, tried to move up. The all-time high zone acted as a good resistance and the index fell. And then just after 1 pm, Nifty fell 150 points intraday as profit booking kicked in. European markets also opened and fell around 1:30 pm.

When global markets started recovering, Nifty also recovered a bit to close at 15,163, down 10 points or 0.07% for the day.

Bank Nifty also consolidated in a tight 600-point range, but closed as the top gaining sector of the day. 4 out of the top 10 gainers in Nifty 50 today were banks. The index opened with a slight gap-up at 35,764 and moved up. This was helped with HDFC Bank making a huge green candle in the first minutes of trading.

SBI, Axis Bank and ICICI Bank also went up in the day. The intraday fall did not affect the index much, which almost touched its all-time high today. Bank Nifty closed the day at 36,108, up 356 points or 1%.

Bank Nifty closed as the top gaining sector, and was the only one to close with more than 1% gains. Nifty Metal fell more than 1.7%, and was followed by Nifty FMCG and Nifty Pharma.

European markets are trading flat to red in the day. Consolidation was also seen in Asian markets, whichever were open.

News Picks

Adani Ports closed as the top gainer in the day in Nifty 50. The gains were supported by Container Corp’s positive results and rally. We have written a well-laid out article on why the stock could rally even more, you can read it here.

Shares of Container Corp closed up 9.7% as rumours of Railways approving a land lease agreement surfaced. A lot of positivity surrounding the stock, along with last weeks good results announcement.

Shares of ITC fell to close down 4% in the day, with results not impressing the market. This sentiment brought down the entire pharma sector with only 2 stocks from Nifty FMCG closing in the green. Shares of PGHH gained more than 3% from the index, as they reported a 77% YoY increase in profit after tax for the last quarter.

Motherson Sumi reported a 2.7 times increase in net profits to Rs 1,268 crore, along with a 14% increase in revenue to Rs 17,092 crore. Shares of the company skyrocketed after this from reds to close more than 10% up in the day. They also said net debt is now the lowest out of the last 14 quarters. 

Again from the same sector, Bharat Forge reported a Rs 210 crore net loss in the third quarter compared to a profit of Rs 40 crore last year. Shares did not fall much as the losses included an exceptional loss of Rs 299.4 crore, which market already factored in. Revenue fell 5.9% YoY.

Adani Enterprises gained more than 9% today as promoters revoked more pledges, as we discussed in the morning report. It entered the list of top 50 companies in India by market capitalization. 

Shares of SpiceJet and Indigo opened with a gap-up then fell sharply as news hit of DGCA increasing minimum and maximum charges on domestic airlines.

Shares of Ashok Leyland fell more than 5% as the company reported net losses for Q3. 

Shares of Bosch fell 3.74% as the company reported a 3% YoY fall in net profits to Rs 184 crore, blaming it mainly on the semi-conductor shortage.

Markets Ahead

Another green week for Nifty with gains of 1.6%. IT and Realty sector performed the best in the week, both gaining nearly 3%. PSU Banks index corrected more than 2.3%, while FMCG also fell 2%.

But more importantly, as we have discussed, when Nifty consolidates is the time when Midcaps and Smallcaps shine the best. Nifty Smallcap index closed more than 3.9% up in the week. Nifty Midcap also gained more than 2%.

I feel that midcaps will generally outperform large caps in the coming years, and have included a midcap fund as well in my portfolio.

IT stocks rebounded like we discussed yesterday. In fact, the top gainers in the morning were all IT stocks for a bit. SBI took support at last weeks low and did not fall. 

Nifty and Bank Nifty have tried testing their all-time highs again today. So the bulls really are trying to outperform. If all goes well over the weekend, we may see Nifty breaking out to form new highs next week.

The India VIX has also fallen 4% to 22.14, showing that volatility has reduced in the week’s close.

Plot a few charts, and find a few companies over the weekend which look good for investment. But do not forget to have a cup of tea and enjoy life, as well. Analyse your P&L and focus on bettering yourself. 

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty closed in the green today, after multiple days of red candles. A proper day of consolidation in the market. Nifty trading in a range of 120 points in the day. After opening with a gap-down at 15,078, Nifty moved up in the first few candles of the day. It then traded sideways, in a 60-point channel for more than 5 hours, before slightly moving up. Nifty closed the day at 15,173, up 66 points or 0.44%.

Much of Nifty’s consolidation was courtesy of Bank Nifty. After opening nearly flat at 35,707, the index of banks traded in a 450 point range today. Just for context, the index moved more than 6,000 points last week. And today it moved less than 1/12th of that. Bank Nifty closed the day at 35,752, down 31 points or 0.09%.

Nifty Energy gained the most in the day, but this was surely because of Reliance’s rally. Nifty Metal gained by more than 1%, while only PSU Bank index fell more than 1%.

Most Asian markets remained mixed in the day, with most of them closing flat. European markets are also trading flat.

News Picks

Hindalco closed as the top-gainer in Nifty 50 after the company announced 90% increase in Net Profit Rs 2,021 crore in December quarter. The stock had been in an uptrend from the morning.

Reliance has jumped back in to the top-gainers list today gaining more than 4%. Was a clear trading opportunity since when the stock crossed Rs 2,000 level. The stock had been bearish for a long while, and with upcoming spectrum auctions, shares of telecoms are seeing a buzz in activity. 

Following the trend, Airtel closed nearly 1% up. Shares of Vodafone Idea closed more than 8% up. All 3 major telecom companies have confirmed participation in the upcoming spectrum auction.

EICHER MOTORS continued yesterday’s fall by closing as the top loser in Nifty 50. The market has not liked the fall in margins of the company in Q3 results.

Shares of Adani Ports continued their journey into all-time highs and found place in the top-gainer’s list today. The company has one of the highest EBITDA margins in a Nifty 50 stock, that means a lot of their revenue contributes to profits.

Shares of SunPharma jumped just after noon as SEBI accepted settling the charges against promoters by a whistle blower that Sun Pharma had diverted funds through related party transactions. It closed in the top-gainers list today.

Shares of MRF fell sharply after results of the company was announced. An increase of 116% in net profits to Rs 511 crore was reported for Q3. Revenue increased 14% to Rs 4,567 crore. I think the market was disappointed about a stock-split not being announced.

Shares of Route Mobile jumped 20% in the day. The share has seen a 30% increase in the last week as they aim for more growth in the American market. Affle India’s shares closed in the 10% upper circuit today, it has also gained 33% in the last week. Tanla Platforms also gained 6% from this positivity.

NSE acquired 26% and GAIL acquired 5% in Indian Gas Exchange, which is a subsidiary of Indian Energy Exchange. Shares of the IEX gained more than 11% in the day. Might see a lot more going ahead. Read about the company IEX here.

Markets Ahead

We had talked about how Nifty would not move much today. The increase in call option contracts at 15,200 was also pointed out. And Nifty has rightly closed below this mark.

MRF’s fall was one of the highlights of the day for me. Had personally wished to see the stock at Rs 1 lakh but had some fun shorting it. Although did not expect it to fall this much. A laughable Rs 3 dividend was declared for the stock which was valued at nearly Rs 98,000 earlier today. MRF closed at 90k for the day.

15,000 continues to be a good support and today 15,050 ranges saw a lot of buying. Reliance getting back into power was one of the reasons for this, otherwise Nifty would surely have fallen to 15,000 today. Reliance contributed more than 65 points to Nifty’s 66 point gain today.

IT stocks have been falling and may see a reversal soon. Also, SBI is forming a really nice consolidation pattern in its 5-minute chart. I am expecting a fall as a correction in the stock.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty moved up and down with a lot of volatility in a 160 point range today. Just like we usually see on Wednesday’s market fell sharply, but then went back up with equal power towards the end of the day. Once again closing flat against yesterday’s close, we could say that Nifty indeed consolidated today.

After opening flat at 15,125, and from the first few candles, it was made clear that the index would be volatile today. The index fell multiple times to 15,000 level, and even broke it once. But strong buying was seen across the board whenever Nifty touched 15k, and the index rebounded to close the day at 15,106, down 2 points or 0.02%.

Bank Nifty turned a bit bearish in the day, but ultimately consolidated and closed in the red. 36,000 was taken as a good resistance and the index could not sustain above this level. It fell below yesterday’s low after trying to take support at 35,500 but gained sharply along with Nifty in the last 30 minutes. Bank Nifty closed at 35,783, down 273 points or 0.76%.

Nifty Realty gained the most in the day, followed by Auto and Pharma. Bank Nifty and Fin Nifty fell the most today.

Asian markets remained mixed in the day. European markets fell after opening and this also reflected in Nifty around 1:30 pm, now trading mixed.

News Picks

The Bajaj Twins – Bajaj Finserv(up 2.8%) and Bajaj Finance(up 1.4%) went up today. Baj Finance seems to have followed Baj Finserv, who was already trading in the green, near the end of the day.

Life insurance companies SBI Life & HDFC Life continued to rally from yesterday. The positive commentary from the HDFC LIFE CEO today gave the insurance sector a major boost. 

SBI General Insurance’s Gross Direct Premium growth of 74% YoY gave some confidence to the market. Data from General Insurance looks good for January.

EICHERMOT was down by 1.5%. The stocks fell heavily after reporting their Q3 earnings during the later part of the day. The company’s Q3 report was not well received by the analysts and profits were booked in the market. Net profit of ₹532.6 crore was reported for Q3, up nearly 7% YoY. Revenues up 19% YoY at Rs 2,828.3 crore

M&M up by 2.14% & TATA MOTORS up by 1.18%. Both these stocks fell by more than 3% yesterday. M&M was constantly moving throughout the day whereas shares of TATA MOTORS saw a sudden and huge buying demand around 2.30 pm in the afternoon. 

TCS was up by 1.15%. TCS announced that the company will hire around 1,500 technology employees across the UK over the next year. The company said they are committed to invest in UKs economy and technology sector.

HDFC Bank fell the most in Nifty 50 and pulled the index down more than 22 points.

Shares of Tata Steel closed down by 1.28% after profit booking kicked into the stock. The company had announced Q3 results yesterday, returning to profitability.

Shares of Muthoot Finance gained 6.85% after the company reported its profits numbers yesterday. It gained slowly and steadily throughout the day.

Shares of Indiabulls Housing Finance gained sharply after 12 PM to close up by 5.62%. It was among the top gainer in F&O activated stocks. 

MotherSumi gained sharply and hit a fresh 52-week high today. A lot of buying was seen in the stock exactly near 12 noon.

Cipla closed in the top-gainers list after the company said it plans to double share from consumers health business in the next 5 years.

Shares of Dixon closed 7% up in the day, rallying more than 20% since last Thursday. Upcoming share split in the company. 

Shares of MRF gained sharply afternoon to close near Rs 97,000. Just Rs 3,000 to go till the 1-lakh milestone! Q3 results are expected tomorrow. 

Markets Ahead

Nifty has once again consolidated with a red candle. But the rally towards the end was very interesting to see. Almost all stocks and indices jumped, showing that there was a lot of buying interest across the whole market. 

Even across the whole day, when Nifty touched 15,000, there seems to have been a lot of buying like someone did not want the market fall. Possibly a lot of FII buying activity at these ranges was the reason.

With no other big event coming, markets seem to be in a mood to consolidate. The increase in call option contracts at 15,200 and 15,300 also shows that a lot of people don’t want the market to go up in this expiry.

Keep watching for the 15,000 support. Just like how breaking supports can be a trade opportunity, taking support at a level and going up is also a good indication. Keep watching Nifty between the ranges of 15,000 and 15,200. Any movement beyond these ranges will show that there is a change in the consolidation sentiment.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

What a day for a Nifty. Once again proving that Nifty is a trader’s paradise. After opening with a gap-up, Nifty remained volatile and consolidated for the first one hour.

But just after 10:30 am, the index broke out of its opening range. It slowly went up, consolidating along the way and touched the day-high just after 2:30 pm. Then it started falling, and within 50 minutes, the index fell nearly 200 points. Nifty recovered a bit to close the day at 15,109, down 6 points or 0.04%. noon and Nifty set new day-highs. Cooling down, the index closed the day at 15,127, up 203 points or 1.36%.

Bank Nifty opened flat and fell in the first 30 minutes. After taking support near 35,600, Bank Nifty reversed and started moving up 900 points till near 36,500. This resistance was exactly near yesterday’s high. After falling from this level, Bank Nifty fell to close at 36,056, up 72 points or 0.20%.

Only Bank Nifty closed in the green today. Nifty Media, Auto and Pharma sectors fell most in the day.

Asian markets closed flat to green today. European markets are currently trading in the red and definitely contributed to Nifty’s fall.

News Picks

When banks and metals were pulling the index down in the morning, IT stocks helped push up the index. When Banks and Metals started moving up, IT stocks cooled and fell.

Life insurance stocks including SBI Life and HDFC Life gained most in the day in Nifty 50 stocks after falling for many days even in between general market rally.

Asian Paints also featured among the top gainer’s list after continuing its rebound from 2370 level.

IT stocks gained in the early hours of the market but could not sustain. Only Wipro could end on the top-gainers list of Nifty 50.

Auto stocks fell after yesterday’s rally. M&M, Tata Motors and Bajaj-Auto fell among the most in the day.

Muthoot Finance reported a net profit increase 22% YoY to Rs 991.4 crore. Net interest income also increased by 13% to Rs 1,819 crore. Shares jumped after this result to close more than 1% up.

Shares of oil retailers fell even as petrol prices in the country reached all-time highs. IOC was the top-loser in Nifty 50 along with factoring in the Rs 7.5 dividend payout.

Shares of Berger Paints jumped nearly 2% as the company reported a 50% YoY increase in net profits to Rs 274 crore for Q3.

Shares of Tata Chemicals jumped 7.82% touching new all-time highs. It crossed this level with high volumes. Balaji Amines jumped 14% and Aarti Industries also jumped more than 3.5%. Balaji Amines jumped after positive commentary from the management along with an increase in sales volumes with net profits tripling in Q3, with an increase in revenues.

Markets Ahead

Nifty has corrected after the many days of jumping up. Even today, the index touched new highs but the entire market saw a good sell-off after touching 15,250 levels. Bank Nifty has also closed flat in the day. 

15,000 will be taken as a good support tomorrow, and 14,800 can also be watched below. Today’s high, both in Nifty and Bank Nifty can be seen as resistance levels for the next day.

PowerGrid shares are taking resistance at a good level in the monthly charts. Can keep watching. Tried to move up in the day, but fell beautifully afternoon. Fun fact: PowerGrid is also an Internet Service Provider(ISP).

Nifty has broken a channel it was trading in, and might not touch the 15,500 level which we talked about yesterday if support is not taken at 15,000 this week. Try identifying this simple channel in the 5-minute chart. If this channel is not re-entered with a good movement, Nifty will see consolidation ahead.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty opened the day with a gap-up at 15,064 and took support, as expected. The index crossed 15,100 without much issue but started taking resistance near 15,130. The opening range was taken as support after noon and Nifty set new day-highs. Cooling down, the index closed the day at 15,127, up 203 points or 1.36%.

Bank Nifty opened with a gap-up but formed a red candle today. The index was not able to break the high made on Friday and took resistance near 36,450. Bank Nifty fell steadily to close the day under the 36,000 level at 35,983, up 0.92%. It was the first red day candle in Bank Nifty since 29 January.

Nifty Auto along with Metals performed the best in the day, followed by IT and Realty. PSU banks fell more than 1%, after many days of gains.

Asian markets have mostly closed in the green. European markets are currently trading in the green.

News Picks

Shares of Mahindra & Mahindra jumped up to hit the upper circuit as the market bounced back from Friday’s fall. There are also reports stating that Amazon is reportedly in talks with Mahindra Electric to source electric three-wheelers for global operations. Shares closed at 7.39% up in the day.

Shares of Tata Motors jumped in early trade then flew near the end of the day after strong consolidation. China has reported higher sales for passenger vehicles, and is a good market for Jaguar Land Rover. The company has also announced Jaguar I-Pace(electric vehicle) in India. Commerce industry has also announced roadmap for Free Trade Agreement with UK, which may benefit JLR.

Shares of Godrej Consumer Products fell with huge volatility after the announcement of the company’s Q3 results. Profits went up 12.8% YoY to Rs 502 crore, revenue up 10%. But margins remained flat. Britannia also fell after Friday’s results announcement.

Most major stocks in Nifty Auto closed in the green with only Bajaj Auto closing flat. Auto ancillary stocks including Mothersumi and BharatForge closed with gains above 4%.

Battery stocks including Exide India and Amaraja Batteries closed well in the green today. This was probably after the Delhi Govt’s push for EVs in the short-term, with tenders being invited for setting up of charging stations. Tata Chemicals also gained more than 2% along with Tata Power.

Carbon and graphite product manufacturing companies including HEG(up more than 10%) and Graphite India(up 20%) closed with huge gains. As we do know, Graphite materials remain among the most used material in lithium-ion batteries. This is part of the EV rally, and these stocks have been rallying a lot.

In fact, all major stocks from the house of Tata mentioned above including Titan and Voltas (excluding Tata Communications) closed with gains as rumours of Tata Sons buying back shares of its companies surfaced. 

All IT stocks went up in the Nifty IT index, except for LTI. Info Edge closed more than 5% up, followed by Coforge, Mphasis, Mindtree and Infy.

Markets Ahead

Auto and IT were set to be the top performers of the day, with them being muted through last week. This was definitely good to see. 

Reliance also contributed nearly 20 points to Nifty today, in a day when 40 out of 50 Nifty stocks closed in the green. 

ICICI Bank was the top contributor Bank Nifty but that honour in Nifty went to Infosys who has closed with a highly bullish candle for the day. We may see some more movement in Large-Cap IT companies if the general market helps.

Nifty has closed in the green for the 6th day in a row, hitting fresh all-time highs. 15,000 will be taken as good support in the coming days, along with 14,800 and 14,400. If the global markets rally sustains, we may see Nifty at 15,500 very soon. Move your pieces intelligently, pick out the sectors which will rally next.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

For Nifty, 15,000 acted as a strong resistance today. After opening at a strong gap-up at 14,972, the index tried to move up but could not sustain the rally above 15,000. It fell with a lot of volatility as Banks moved up but almost every other sector fell sharply. Nifty closes the day at 14,924 up 28 points or 0.19%.

Bank Nifty again rallied more in the early hours of trade today. After opening with a big gap-up at 35,754, the index jumped up with power from SBI hitting upper circuit and HDFC Bank rallying. After creating a high, the index of banks cooled down and fell to take support at 36,000. This was broken afternoon, and Bank Nifty closed below the opening range at 35,654, up 309 points or 0.88%.

Nifty Pharma performed the best in the day as a sector, followed by Metals then Banks.

Asian markets have closed in the green. European markets are currently trading flat to green.

News Picks

Shares of SBI gained right from day open with almost 8-9% gap-up. It went on to hit 10% upper circuit, and even tried to touch the 15% mark. The stock was bullish after crossing its all-time high, just like we had talked yesterday. The stock has gained nearly 40% since Monday morning. Announced better than expected results yesterday.

Shares of Tata Steel again back to its usual self by gaining nearly 5% for the day. The stock has been rebounding from a very good level of Rs 600.

Axis Bank shares fell along with ICICI Bank today to pull Bank Nifty down. Both stocks have good weightage in the index.

Shares of ZEEL fell nearly 14% hitting multiple lower circuits. Analysts had noted that the free cash flow of the company will reduce with its new and upcoming investments.

Shares of Mahindra & Mahindra fell marginally as the company announced worse than expected Q3 numbers due to one-time hit from Ssangyong unit. The company announced Q3 net profit up 42% at Rs 1,268 crore, as revenue grew 11%. Still looks like a very strong growth to me.

All but two stocks in the Auto index closed in the red today. Even the two green stocks, Exide and Bajaj Auto were very much flat.

IT stocks mostly fell through the day, with only Naukri ending in the green from the index. IT stocks have been falling for the past many days, and were not part of the Nifty’s rally this week.

Pharma stocks continued to rebound from their lows and ended as the top gaining sector. DivisLab, TorrentPharma and Dr Reddy closed among the top-gainers in the day.

StoveKraft listed with gains and closed 15% above IPO price.

Markets Ahead

Nifty and Bank Nifty ended at all-time highs with the best week in indices in last ten months or so. Bank Nifty posted 16.6% gains for the week while PSU Banks index gained more than 25%. Glad that the analysis gone wrong from yesterday was overcompensated by the analysis gone right on SBI.

An interesting fact for today is that Nifty has doubled from its COVID-crash. Fueled by recovery with vaccine hopes, liquidity in global markets because of low-interest rate and increased participants in the market, Nifty has rallied like crazy. In fact, even Bank Nifty has doubled.

Take a chill pill, and have some tea while you think about this rally. Soak it in and draw some charts and find new opportunities over the weekend.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty continues on and on. With banks staying very very bullish and ITC jumping, Nifty touched new all-time highs today. After opening at a small gap-down at 14,768, Nifty took support at 14,700 and started moving up. It moved up then consolidated, moved again then consolidated again. And slowly Nifty crossed 14,900 and closed at 14,895, up 105 points or 0.71% for the day.

Bank Nifty beating all expectations and moving up even above huge huge resistance of 35,000. SBI led the rally along with Kotak Bank. After opening with a gap-down at 34,452, the index fell and took support at 34,240(check charts, it is a good level). It consolidated near to 35,000 for more than 90 minutes, then started moving up with the huge boost from SBI near the end. Bank Nifty closed at 35,344, up 586 points or 1.69% for the day.

Nifty PSU Bank ended with big gains(+5.9%) lead by SBI and Canara Bank. FMCG also did well(up 2.4%) on the back of ITC rally.

Asian markets closed mixed, with most indices even closing in the red. IT was the index which closed in the red, with just small losses.

News Picks

Shares of ITC gained after 12pm with huge strength on the back of big volumes and closed as the top gainer in Nifty 50.

Shares of SBI gained towards the end of the day as the bank published better than expected results. Net interest income rose 4% from last year Q3 to Rs 28,820 crore. Net profits fell 7% YoY to Rs 5,196 crore on higher provisions for bad loans. The stock alone pushed up Bank Nifty by 250 points today.

Shares of ApolloTyres closed 7.2% up to as the company posted amazing results yesterday. You can read this article to know why tyre stocks have been rallying off-late. Balkrishna Industries also gained 6.26%.

Jubilant Food bounced back from yesterday, closing more than 6.7% up. Along with ITC it took the FMCG index up. Also, Procter & Gamble India share price hit a new 52-week high after the company reported a Q2 profit jump of 84%.

PSU banks rallied in the day, along with positivity from SBI. Indian Bank gained more than 15%, and Bank of Baroda gained more than 6%. These stocks have no weightage in Bank Nifty.

Godrej Properties fell by more than 3.5% as the company reported net profit down 69% YoY to Rs 14 crore for Q3. Total income fell 28% YoY to Rs 306 crore.

Tata Power reported net profit up 22% YoY to Rs 318 crore for Q3. Revenue is up 7.4% to Rs 7,598 crore. Shares closed up 6.4% in expectation of good results.

Markets Ahead

What a week of rallies for Nifty and Bank Nifty. By weekly, I mean from last weekly expiry to this expiry. After touching 13,600 last Friday, Nifty rallied more than 1300 points to close near its all-time high today! Bank Nifty rally for this expiry has been even more staggering rallying almost 6,000 points since last Thursday’s low.

Really did expect Nifty and Bank Nifty to take some rest today. And did not feel Bank Nifty would cross 35k today. Did not expect Nifty to cross 15k and this worked right for the week. Analysis need not always be right, right? 

The monetary policy announcement for tomorrow will be an important event, although no significant changes will be announced. With SBI looking largely bullish, and near its all-time highs can expect some more rally if that level is broken.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Just 13 days after Nifty touched all-time highs, it is back again. After opening near the all-time high level with a gap-up, Nifty created a huge red candle in the first 10 minutes and took support near 14,580. From there the index slowly went back up and touched a new high of 14,868. Calming down, the index closed at 14,789, up 142 points or 0.97% for the day.

Bank Nifty once again bullish in the day. After opening with a gap-up, the index took support at 34,000 and flew back up. Even though not as bullish or crazy as the last two days, the index of banks went up 900 points from there. Bank Nifty cooled down near the end of the day to close at 34,758, up 490 points or 1.43%.

Nifty Pharma rebounded strongly, and was followed by Nifty Metals and Banks. Realty and FMCG sector closed in red. 

Most Asian markets closed in the green while European markets are currently trading flat to green.

News Picks

Shares of IndusInd Bank jumped up to close up 7.47%. The stock has seen an absolutely bullish rebound along with the market. Morgan Stanley had also raised the target price on the stock, which it touched today. Share was up more than 13-14% intraday.

Energy PSUs PowerGrid, Coal India and NTPC featured among the top-gainers, calmly continuing their rally after the budget announcement.

Absolutely the day of Pharma stocks as many featured in the top gainers’ list, along with Pharma being the best performing index of the day. Some stocks including AstraZeneca India were in an absolutely unnecessary fall but took support at good levels. Dr Reddy, Divislab, Cipla and SunPharma were among the top gainers.

ShreeCem and UPL featured in the top-losers section after rallying for many days. PVR also fell 3%.

FMCG stayed flat as Jubilant Food fell 2% after reporting flat revenue growth YoY for Q3. Net profit is up 21% at Rs 125.1 crore. 

Tata Motors fell towards the end of the day after going up till Rs 341. Still the stock closed up 2.8% up. 

Shares of Indigo Paints fell more than 5% after the stock posted a 110% gain from IPO price yesterday.

Finance stocks including Shriram Transport Finance, M&M Finance, Power Finance Corp and Cholamandalam Finance gained between 4-7% in the day.

Bharti Airtel reported a net profit of Rs 853 crore vs a Rs 1035 crore loss last year. Revenue is up 20% YoY to Rs 21,947 crore for Q3. Average Revenue Per User(ARPU) of Q3 is at Rs 166 compared to 135 last year. Last quarter ARPU was Rs 162.

Markets Ahead

Going long on Nifty when it broke the all-time high around 10:10 am was definitely a good move that you could have caught today. Also, I am having a bearish view that Nifty would not cross 15,000 tomorrow.

The huge open interest build-up at 15,000 is an indication but also that Reliance is not very strong as well with Future vs Amazon deal still being stuck. HDFC Bank the range of 1578-1580 can be watched as the stock has taken resistance there multiple times.

Global markets are seeing some profit booking with Europe falling very sharply in the afternoon. I am also expecting a continued rebound in pharma stocks if the market supports along with possible rally of midcap financial stocks.

And hoping everyone who bought some Nifty BeEs with me last week is sitting in some worry-free profits.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.