Tag: War

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US Bans Russian Energy Imports; Oil on Boil! Share Market Today

News Shots 

Dish TV has disclosed the results of its annual general meeting held on Dec. 30, after SEBI’s order directing it to do so. All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing.

Zydus Lifesciences subsidiaries entynl Therapeutics and BridgeBio Pharma executed an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection.

Bharat Forge subsidiary Kalyani Strategic Systems has incorporated Sagar-Manas Technologies, a joint venture with Open Joint Stock Company Dastan Transnational for up-gradation and manufacturing/ providing solutions for marine and defence products.

Atul has completed the expansion of its Sulphur Black manufacturing facility, thus increasing the production capacity from 9,800 tonnes per annum to 26,000 tonnes per annum.

Indian Overseas Bank has reduced the base rate to 8.10% from the existing of 9.10% effective from March 10, 2022.

Jindal Stainless said it sources majority of its nickel from scrap, and dependence on Russia for raw material is minimal.

What to expect? 

NIFTY opened the day with a gap-down at 15,755 and moved up. But the index faced resistance at 15,900 and started falling. There was a good bounce-back in the second half and NIFTY shot up by 350 points in the end, closing the day at 16,013, up 150 points or 0.95%.

BANK NIFTY opened with a gap-down at 32,560. The index took support just below 32,200 and moved up by nearly 1,000 points, closing the day at 33,158, up 287 points or 0.87%.

Metals went down by 1.5% yesterday after a good up-move on Monday.

The US markets had one of the most volatile days finally closing the day 0.5% in the red. The European markets could close flat yesterday after opening with a gap-down.

The Asian markets are mixed. The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 15,931 indicating a gap-down opening.

NIFTY has supports at 15,940, 15,900, 15,750 and 15,670. We can expect resistances at 16,130, 16,240, 16,340 and 16,410.

BANK NIFTY has supports at 32,800, 32,500 and 32,200. Resistances are at 33,250, 33,550 and 34,000.

NIFTY has the highest call OI build-up at 17,000 and the highest put OI build-up is at 15,000.

BANK NIFTY has the highest call OI build-up at 34,500 and the highest put OI build-up at 32,000. 

INDIA VIX  is at 29.33.

Foreign Institutional Investors net sold shares worth Rs 8,100 crores. Domestic Institutional Investors net bought shares worth Rs 6,500 crores. 

The US has imposed a ban on Russian energy imports. The UK also has decided to phase out Russian imports by the end of 2022. This has taken crude oil prices back to $130. France continues to support Ukraine through military supplies and said that more sanctions on Russia are under consideration.

President Zelensky said that Ukraine is no longer pressing for NATO membership as he thinks NATO is not yet ready to take Ukraine in. This is an indication that the war may end soon. But the repercussions will last longer. Also, Russia no longer has the only demand of Ukraine withdrawing from NATO request and the war will be over only if all the demands of Russia are met.

Nirmala Sitharaman said in India Global Forum that the government sees scope for revenue in crypto through taxes. She added that 45 unicorns in two years is a huge achievement for Indian youth.

With European markets moving up after opening, our markets also moved up closing above 16,000 which is a good sign. However, it will be hard for the market to have an up-move with such a huge fall from the high. 

IT is performing well. TCS moved up by more than 3% yesterday. There was also a significant contribution from BANK NIFTY in the second half. It is very important for NIFTY to close above 16,000 today. 

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Global Markets Down; Sgx Nifty Indicating Another Gap-Down Opening – Share Market Today

News Shots 

NLC India declared interim dividend of Rs 1.5/share.

Metro Brands declared interim dividend of Rs 1.5 per share. Chief Operating Officer Sahel Kamdar resigned.

Future Retail shareholders and creditors to meet on April 20-21 to discuss the Reliance deal.

SEBI passed an interim order against Dish TV, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations.

Geojit Financial Services promoter BNP Paribas sold 80,000 shares on Feb. 28.

Hinduja Group bought 2.96 lakh shares (0.03% stake) of Indusind Bank at Rs 839 apiece.

What to expect? 

NIFTY opened the day with a huge gap-down at 15,863 and moved further down. There was a bounce back to 15,940 but there was strong resistance which led the index to close at 15,863, down 382 points or 2.35%.

BANK NIFTY opened with a huge gap-down at 33,250. The index had gone down below the Pre Covid level but the last hour buying added some points to BANK NIFTY. The index closed at 32,871 , down 1536 points or 4.47% down.

Auto fell by more than 4% whereas Metals moved up by 2%.

The US markets fell heavily in the second half. The European markets fell yesterday with DAX closing more than 3% in the red.

The Asian markets are nearly 1% down. The U.S. Futures are flat whereas the European futures aretrading in the green.

SGX NIFTY is trading at 15,750 indicating a gap-down opening.

NIFTY has supports at  15,700, 15,600 and 15,500. We can expect resistances at 15,940, 16,000  and 16,130.

BANK NIFTY has supports at 32,500, 32,400 and 32,000. Resistances are at 33,000, 33,200 and 33,500.

NIFTY has the highest call OI build-up at 16,500 and the highest put OI build-up is at 15,000 excluding deep strikes.

Similarly, BANK NIFTY has the highest call OI build-up at 34,500 and the highest put OI build-up at 32,000. 

INDIA VIX  is at 29.33.

Foreign Institutional Investors net sold shares worth Rs 7,500 crores. Domestic Institutional Investors net bought shares worth Rs 5,300 crores. 

With the reports that the US is consulting with the European nations to decide on cutting imports of crude oil from Russia as we discussed yesterday, crude oil spiked and this led to the heavy fall we saw. The Asian markets and the European markets were significantly down in the first half but the European markets were able to recover to an extent. 

The EU nations are reportedly planning to reduce the dependency on Russian gas by 80%. Putin has threatened to cut the gas supply through Nord Stream 1. White House said that it is going to be tough time ahead.

Another highlight of the day was the NSE glitch where the indices did not get updated on time. This is why you can see a huge red candle in many platforms. Make sure that you stay away from the market on days with such glitches once you get the first indication. 

The exit polls results were out yesterday as the final phase of the elections is over. It favoured BJP in Uttar Pradesh and AAP in Punjab. Let us wait for the results on Thursday.

After Macron’s request to Putin, humanitarian corridors were opened in multiple cities in Ukraine. The World Court hearing has begun on Ukraine invasion but Russia did not appear. Also, there were reports that Russia demanded Ukraine to consider Crimea as Russian territory, recognise Donetsk and Luhansk and also make changes to their constitution.

I will be watching 15,600 on the downside.

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Crude Oil Touches $130; Markets Down – Share Market Today

  News Shots 

Wipro appointed Nicolas (Nic) Parmaksizian as chief executive officer of Designit.

Reliance Industries announced opening of Jio World Centre in Mumbai’s Bandra Kurla Complex.

BKT commenced commercial production of Brown Field Expansion and Debottlenecking Project at BHUJ Plant. The production of tyres will be increased upto 50,000 MTPA.

Rajratan Global Wire approved stock split of one share of Rs 10 each into five shares of Rs 2 each on March 16.

Info Edge invested Rs 91 crore in Asia Network for 76% stake

Nazara Technologies approved issuance Rs 25 crore of shares to shareholders of Datawrkz, to hold 33% stake in Datawrkz after deal.

What to expect? 

NIFTY opened the day with a gap-down at 16,362 on Friday. The sell-off continued but support was taken at 16,130 and bounced back. Resistance at 16,450 pushed NIFTY down and the index closed at 16,245, down 253 points or 1.53%.

BANK NIFTY opened with a gap-down at 34,574 but managed to find support at 34,100. The index attempted to cross 35,000 but there was stiff resistance and the index closed at 34,408, down 537 points or 1.54%.

Auto and Metals continued to fall whereas IT closed in the green.

The US markets closed in the red but the fall was much less compared to the European markets that closed more than 3% in the red.

The Asian markets fell heavily with Nikkei and Hang Seng trading more than 3% in the red. The U.S. Futures and the European futures are trading lower, DAX futures being 3% in the red.

SGX NIFTY is trading at 15,800 indicating a huge gap-down.

NIFTY has supports at 16,130, 16,000, 15,900 and 15,600. We can expect resistances at 16,340, 16,410 and 16,500.

BANK NIFTY has supports at 34,000, 33,900 and 33,400. Resistances are at 34,900, 35,000 and 35,250.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000. The highest put OI build-up is at 15,000 followed by 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 33,000. It is a wide range as it is uncertainty ruling the market. 

INDIA VIX  is at 28.

Foreign Institutional Investors net sold shares worth Rs 7,600 crores. Domestic Institutional Investors net bought shares worth Rs 4,700 crores. 

There are reports that the US is consulting with the European nations to decide on cutting imports of crude oil from Russia. This has led to the spike in crude oil, which is now at $130! With this, markets worldwide have fallen heavily.

 As you know, the elections are getting over today in India and you can expect a hike in the fuel prices leading to overall inflation. The UP exit polls will be out tonight.

FIIs continue their selling spree. They have net sold shares 7,600 crores on Friday and the weekly figures stand at Rs 23,000 crores.

Russia is continuing its invasion of Ukraine. Putin allowed ceasefire for evacuation of cities on humanitarian grounds but there were reports of ceasefire violations. He said that the western sanctions are equal to a declaration of war and a no fly zone if imposed will be seen as direct involvement in the war. There was no clear resolution in the previous round of talks and the third round of talks is expected to happen on Monday but Putin wants all of the Russian demands to be accepted.

The markets may touch the 15,600-15,900 zone which will be a strong support zone. Let us see what happens here.

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Markets Down Again; Nifty To Open With a Gap-down – Share Market Today

  News Shots 

Vodafone Idea will raise up to Rs 4,500 crore by issuing 338.35 crore preferential equity shares to entities controlled by promoters Vodafone Group Plc and Aditya Birla Group.

SJVN will receive a loan of Rs 1,537 crore from State Bank of India and Rs 319.04 crore from Punjab National Bank for a hydel project in Himachal Pradesh and solar power project in Uttar Pradesh, respectively.

LT Foods has acquired 51% stake in Golden Star Trading Inc. through its subsidiary LT Foods America Inc. with a call option to acquire 49% stake after three years.

IndiaMart Intermesh has entered into an agreement to invest Rs 17.01 crore in Zimyo for 10% stake.

Gujarat Alkalies received a patent from the US Patent and Trademark Office for process for production of hydrazine hydrate.

What to expect? 

NIFTY opened with a gap-up at 16,736. But the gap-up was sold into. This was followed by a steeper fall even breaking 16,500 in the second half. NIFTY finally closed the day at 16,498, down 108 points or 0.65%.

BANK NIFTY opened with a gap-up at 35,683 and fell heavily. 34,900 was closely watched by the market participants breaking which we would see a huge fall. But BANK NIFTY was able to close the day at 34,944, down 428 points or 1.21%.

Metals and IT closed in the green.

The US markets closed in the red yesterday. The European markets also moved down.

The Asian markets are down with NIKKEI trading 2% in the red. The U.S. Futures and the European futures are trading lower.

SGX NIFTY is trading at 16,250 indicating a huge gap-down.

NIFTY has supports at 16,370, 16,250 and 16,000. We can expect resistances at 16,570, 16,660 and 16,700.

BANK NIFTY has supports at 34,900, 34,700 and 34,500. Resistances are at 35,230, 35,330 and 35,650.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 35,000.

INDIA VIX  is just below 30, at 29.2.

Foreign Institutional Investors net sold shares worth Rs 6,600 crores. Domestic Institutional Investors net bought shares worth Rs 4,800 crores. 

As Jerome Powell said on Wednesday that Fed would go for a 25 basis points hike rather than an aggressive 50 basis points hike, the US markets moved higher on Wednesday and that boosted the market sentiments in Asia. As a result, NIFTY opened with a gap-up. The Asian markets closed in the green but our gap-up was sold into. The story does not end there. We fell even further. 

The fact that we import 85% of the crude oil draws the correlation of our economy to the crude oil prices. Crude oil had almost touched $120 and this might have been a major factor for the fall. The US futures stood strong when we were falling indicating the localisation of negativity.

FII selling is another major reason. Look at the figures of FII selling for the past days and you will be amused by the aggression.

There were reports that the largest nuclear power plant in Ukraine was attacked by Russia. This led to the drastic fall in US futures which has recovered to an extent now. The Foreign Minister tweeted that if the plant explodes, it could be much more disastrous than the Chernobyl explosion. However, it is reported that the strike was outside the perimeter and the shelling has stopped. Also, there is no radiation level rise at the plant.

The level of 34,900 in BANK NIFTY continues to be the saviour for the market yesterday as well. But we will have to accept the magnitude of negativity in the financial sector. I will be watching 16,250 today.

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Expiry Day Special: US Rebound – Share Market Today

 News Shots 

Vedanta board has approved a third interim dividend of Rs 13 per equity share for the financial year 2021-22. 

Swan Energy said the board on March 5 will consider fundraising of up to Rs 2,000 crore.

Hind Rectifiers received orders worth Rs 57.32 crore in February 2022.

Mukand sold its land in Thane for Rs 806.14 crore. It has executed an agreement for the sale of said land of 47 acres.

Tantia Constructions bagged a Rs 42.2 crore contract from South Eastern Railway for the construction of a major bridge between Basta and Rupsa.

ABB India completed the sale of its turbocharger business to Turbocharging Industries and Services India.

What to expect? 

NIFTY opened with a gap-down at 16,614 and after a small up-move, fell step by step making lower highs and lower lows. But there was a quick buying in the second half which was sold into. There was a last-minute blast and NIFTY closed the day 16,606, down 188 points or 1.12%.

BANK NIFTY opened with a huge gap-down at 35,553. There was a heavy fall but 34,900 could provide a good support from where the index bounced and closed at 35,372, n 833 points or 2.3%.

Metals rallied for another day.

The US markets moved up significantly yesterday, closing around 1.8% in the green. The European markets also closed in the green.

The Asian markets are trading higher now. The U.S. Futures are flat and the European futures are trading slightly in the green.

SGX NIFTY is trading at 16,675. All the factors combined are indicating a gap-up opening.

NIFTY has supports at 16,600, 16,555, 16,500 and 16,370. We can expect resistances at 16,700, 16,840, 16,900 and 17,000.

BANK NIFTY has supports at 35,230, 35,000, 34,900 and 34,500. Resistances are at 35,650, 35,900, 36,000 and 36,300.

NIFTY has the highest call OI build-up at 17,500 followed by 17,000 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the highest put OI build-up at 35,000.

INDIA VIX  is just below 30, at 29.2.

Foreign Institutional Investors net sold shares worth Rs 4,300 crores. Domestic Institutional Investors net bought shares worth Rs 3,100 crores. 

Jerome Powell testified to Congress yesterday and he said that the Fed will go for a rate hike this month which was expected. The question was whether it would be a 25 basis point hike or a 50 point hike. The Fed Chairman said that he is inclined to a 25 basis points hike. This was good news for the markets to recover.

The UN General Assembly slammed the Russian invasion and asked Russia to withdraw the troops. Two of the Russian oligarchs have called on Russia to end the war immediately. These news will not be influential in stock markets worldwide as it is uncertainty fundamentally that the markets are afraid of. 

Crude Oil price was the highlight yesterday as it touched $114 since the US sanctions have become a hurdle for commodity movement from and to Russia. Nirmala Sitharaman said that we will face supply issues in edible oil and other items. OPEC+ said that they will stick to April input increase as expected but did not discuss the war impact. The rise in prices will lead to inflation and a difficult environment for businesses.

It was the financial stocks that weighed the index down but there was a good up-move in the last minute. We had got a clue about the institutional move at around 1 pm with that impulsive reversal. However, BANK NIFTY will be in a vulnerable zone if it is around the 34,900 level breaking which the sector may touch 34,500. There will be fear in the sector as long as FIIs sell aggressively. A close above 36,200 can give confidence to the bulls.

I expect NIFTY to stay below 16,900 for this expiry unless there is a major breakout. 16,400 can be watched on the downside if there is a major negative news. I know that I am talking about a wide range. But this is a news-driven market and you should be prepared for wild moves. The premium is high everywhere and if you trade wisely, you will be able to gain from the decay. If you are an option buyer, make sure that you go behind larger moves only or you will fall prey to theta. 

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Sgx Nifty At 16,500! Can Nifty Recover? Share Market Today

 News Shots 

Eicher Motors reported that their sales went up 7.3% YoY to 5,856 units in February.

Future Enterprises said that there is no immediate impact on deal with Generali after court order on Future Generali stake sale restraint.

Page Industries Managing Director Sunder Genomal has tendered his resignation.

Tata Steel subsidiary Tata Steel Advanced Materials will acquire 90% stake in Ceramat Pvt for consideration of Rs 90,000.

Sterlite Technologies has announced a collaboration with Analog Devices to develop 5G Open RAN radio units.

EaseMyTrip will consider allotment of bonus shares on March 3.

What to expect? 

NIFTY opened with a major gap-down at 16,506 and after a round of selling, the index rallied by more than 400 points. NIFTY closed the day at 16,794, up 135 points or 0.81%.

BANK NIFTY also opened with a gap-down at 35,970. The index underperformed NIFTY. Though there was selling pressure, BANK NIFTY took support at 35,900 and closed the day at 36,205, down 225 points or 0.62%.

Metals moved up by nearly 5%.

The US markets closed deep in the red. The European markets fell heavily.

The Asian markets are trading lower now. The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 16,500 indicating a gap-down opening.

NIFTY has supports at 16,600, 16,535, 16,370 and 16,250. We can expect resistances at 16,700, 16,840, 16,900 and 17,000.

BANK NIFTY has supports at 35,900, 35,650, 35,230 and 35,000. Resistances are at 36,300, 36,550, 37,000 and 37,250.

NIFTY has the highest call OI build-up at 17,500 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 38,000 and the highest put OI build-up at 35,000.

INDIA VIX  increased to 28.6.

Foreign Institutional Investors net sold shares worth Rs 3,900 crores. Domestic Institutional Investors net bought shares worth Rs 4,000 crores. 

NIFTY has finally closed above 200 dma. At the same time, we are seeing a chance for a major gap-down and this will test the resilience of our market again.

Belarus troops may go in seeing the developments at the border and if this happens, things will turn worse. 12 Russian diplomats have been dismissed by the US. Russia has warned of retaliation.

Oil prices have gone up again, trading now at $109 which is a major concern for our market. Fed rate hike is another major concern as a Fed official said yesterday that there is a need for more frequent hikes and by larger increments.

Reliance moved up significantly contributing to NIFTY’s up-move on Monday. HDFC twins lagged behind, closing in the red. Let us keep an eye on these stocks.

I will be watching 16,370 on the downside if there is a major fall in the coming days.

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More Negativity to Come in? Share Market Today

News Shots 

Bharti Airtel entered into an agreement with Vodafone Group Plc to buy 4.7% stake in Indus Towers on the principal condition that the amount paid shall be inducted by Vodafone as fresh equity in Vodafone Idea and simultaneously remitted to Indus Towers to clear VIL’s outstanding dues.

Hindalco signed a share purchase agreement with Terrabel Empreedimentos Ltd

Sandhar infused additional funds of Rs 2,88,64,510 in Sandhar Amkin Industries

Duocon increased authorised share capital from Rs 25 crore to Rs 30 crore and recommended a bonus issue in proportion of 1:10.

Sun TV will consider declaration of interim dividend on March 7.

Patel Engineering subsidiary Patel Energy Resources has sold its entire stake in Naulo Nepal Hydroelectric for Rs 11.53 crore.

What to expect? 

NIFTY opened with a gap-up 16,525 and moved higher. The index consolidated in a range of 100 points after resistance and closed the day at 16,658, up 410 points or 2.53%.

BANK NIFTY also opened with a gap-up at 35,921 and moved up. After resistance at 36,650, banks consolidated  closed at 36,431, up 1,203 points or 3.41%.

All the sectors closed in the green.

The US markets and the  European markets closed well in the green on Friday.

The Asian markets are trading lower now. The U.S. Futures and the European futures are trading deep in the red.

SGX NIFTY is trading at 16,650 indicating a gap-down opening.

NIFTY has supports at 16,600, 16,530, 16,400 and 16,250. We can expect resistances at 16,700, 16,740, 16,840, 16,900 and 17,000.

BANK NIFTY has supports at  36,400, 36,300, 36,000 and 35,900. Resistances are at 36,550, 36,630, 37,000, 37,250 and 37,390.

NIFTY has the highest call OI build-up at 17,500 and the highest put OI build-up at 16,000.

BANK NIFTY has the highest call OI build-up at 38,000 and the highest put OI build-up at 36,000.

INDIA VIX  dropped to 26.7.

Foreign Institutional Investors net sold shares worth Rs 4,500 crores. Domestic Institutional Investors net bought shares worth Rs 4,300 crores. 

NIFTY is trading below 200 ema now. We will have to see a close above the moving average to see a momentum to fill the gap and close above 17,100.

There will be uncertainty in the market as long as the war continues. The EU countries are providing military supply to Ukraine. Also, SWIFT has sanctioned Russia as a result of which Russian currency has suffered. Putin has asked to put the nuclear forces on alert as there are aggressive statements from NATO. The US and France have asked their citizens to leave Russia. There will be talks between the representatives of Ukraine and Russia soon.

Crude oil had crossed 100 last week and it has been a 40% rise since the last two months. India being a heavy importer will suffer if the hike continues.

FII selling is another major concern as they have sold for nearly Rs 20,000 cr last week. We will have to see how DIIs would support the market without their contribution. 

Tomorrow is a market holiday on account of Mahashivratri. It can be risky if you carry overnight positions in the midst of geopolitical tensions. I will be watching 16,840 on the upside in NIFTY.

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Asia Trading Higher; VIX Above 30 – Share Market Today

News Shots 

Apollo Hospitals will replace Indian Oil in the benchmark Nifty 50 from March 31, 2022, as part of the semi-annual index review. The changes will also be applicable to Nifty 50 Equal Weight Index. The Nifty 50 is reconstituted twice every year in March and September.

The Ministry of Defence has signed a contract worth Rs 1,075 crore with Bharat Electronics for the retro-modification of commander sight of battle tanks-T-90. The company will supply 957 commander thermal imager cum day sights for T-90 tanks of the Indian Army.

Infosys  launched Infosys metaverse foundry to ease and fast track enterprises’ exploration of the metaverse, including virtual and augmented environments, for its customers, workplace, products and operations.

Hinduja Global bagged a contract worth Rs 2,100 crore (£211 million) by the UK Health Security Agency to provide critical customer support to UK citizens for an initial period of two years, with an option to extend further.

Wipro will hire more than 500 employees in Brazil over next fiscal year.

What to expect? 

NIFTY opened with a huge gap-down at 16,607 with the news on Russian invasion. It was a massive sell-off that followed and the index closed the day at 16,248, down 815 points or 4.8%.

BANK NIFTY also fell heavily after opening with a huge gap-down at 36,256. After staying above 36,000 for a while, banks fell heavily in the last hour and closed at 35,228, down 2164 points or 5.79%.

All the sectors fell heavily.

The US markets had a roller coaster ride opening with a huge gap-down and closing in the green. The European markets fell heavily.

The Asian markets are trading in the green now. The U.S. Futures are well in the red and the European futures are trading slightly lower.

SGX NIFTY is trading at 16,500 indicating a gap-up opening.

NIFTY has supports at 16,200, 16,130 and 16,000. We can expect resistances at  16,400, 16,500 and 16,600.

BANK NIFTY has supports at 35,000, 34,850 and 34,500. Resistances are at 35,500, 35,700 and 36,000.

Open Interest data will not be helpful today.

INDIA VIX  is at 32.

Foreign Institutional Investors net sold shares worth Rs 6,500 crores. Domestic Institutional Investors net bought shares worth Rs 7,700 crores. 

Russia attacked Ukraine and you know how the markets bleeded. Putin later said that Russia does not want to conquer the neighbour but they have no choice than to retaliate seeing NATO’s expansion. He added that anyone who turns against Russia will have to face adverse consequences.

The Ukrainian military bases were destroyed and several men were killed including civilians.The Russian defence said that the soldiers who laid the weapons down were treated with respect. The US said that Putin’s plan is to decapitate the Ukrainian government.

The last time we had a VIX above 30 was in June 2020. So, it is advisable not to trade in this extremely volatile market condition. The US markets had opened deep in the red but when Biden announced the sanctions, it was clear that the crude was exempted. This led to the positivity.

It is recommended that the investors can wait for a while before jumping at investments. We will have to see what happens at 16,000 if the fall continues.

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Putin Declares War! Share Market Today

News Shots 

Vodafone Idea is in talks to sell around a 5% stake in Indus Towers Ltd. to Bharti Airtel Ltd., PTI reported. The deal is expected to be valued at more than Rs 3,300 crore, and the proceeds will be pumped into the Indian entity Vodafone Idea Ltd.

Info Edge (India) received NCLT approval for amalgamation of wholly owned subsidiary High Orbit Careers.

Power Grid will transfer 26% residual equity shareholding in Power Grid Vizag Transmission and relinquish its right on additional revenue accruing to PowerGrid Parli Transmission Power Grid Warora Transmission and PowerGrid Jabalpur Transmission under change in law to PGInvIT against upfront consideration.

Vedanta will consider declaration of third interim dividend on March 2.

Tenneco Inc has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings.

What to expect? 

NIFTY opened with a huge gap-up at 17,202. There was a fall but the index bounced from the level of 17,125. Selling pressure again took NIFTY down. An unexpected sell-off in the last hour resulted in NIFTY closing the day at 17,063, down 29 points or 0.17%.

BANK NIFTY opened with a gap-up at 37,664 but moved down following the general market. 37,500 provided a good support for the index but BANK NIFTY fell in the last hour to close the day at 37,392, up 20 points or 0.05%.

All the sectors had an almost flat finish.

The US markets fell yesterday on Ukraine worries. The European markets were flat to red.

The Asian markets are trading in the green. The U.S. Futures and the European futures are trading slightly higher.

SGX NIFTY is trading at 16,720 indicating a huge gap-down opening.

NIFTY has supports at 17,000, 16,925 and 16,850. We can expect resistances at  17,150, 17,200, 17,270 and 17,350.

BANK NIFTY has supports at 37,300, 37,180 and 37,000. Resistances are at 37,500, 37,650 and 37,800.

NIFTY has the highest call OI build-up at 17,500 followed by 17,400. There is a significant put OI build-up at 17,000.

BANK NIFTY has the highest call OI build-up at 38,000 and the highest put OI build-up at 37,000.

INDIA VIX  dropped to 24.5. 

Foreign Institutional Investors net sold shares worth Rs 3,400 crores. Domestic Institutional Investors net bought shares worth Rs 3,000 crores. 

We had updates related to Ukraine conflict flowing during market hours. Biden called off the Biden-Putin summit saying there is no use as Russia has advanced with their plan. He added that the US will come up with more severe sanctions to which Putin replied that their response also will be severe. But the markets did not react much to the updates.

But we had terrible news coming from Ukraine border yesterday night with reports that satellite images showed new movement of Russian troops near the border. The EU came forward with sanctions on Russia. The UN Security Council has begun an emergency meeting now where the UN Secretary General has asked Russia to give peace a chance. Putin said that NATO’s aggressive expansion is unacceptable. Follow the updates closely during the market hours. As the report is being written, there is an update that Putin has decided to conduct military operation in Ukraine!

FII selling is another major concern for our market today. It is monthly expiry and you cannot rule out the chance for a last minute sell-off by the big players to manage their derivative positions. Make sure that you do not fall prey to volatility.

Let us see where the market opens. Keep following the updates related to Ukraine.

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Daily Market Feed Pre Market Report

Asia in Green Despite the US Fall; Get Ready for a Volatile Day – Share Market Today

News Shots 

Dilip Buildcon has won a road project in Chhattisgarh. It has been declared as L-1 bidder for a new HAM project under Raipur-Visakhapatnam in the state and the order is worth Rs 1,141 crore.

SIS has bagged a contract worth Rs 225 crore, from Mahanadi Coalfields. With this, it will deliver security solutions to Mahanadi Coalfields at 18 sites across India for the next two years.

Life Insurance Corporation of India has bought 1.5 lakh equity shares in Capri Global Capital via open market transactions on February 21. With this, LIC’s shareholding stands at 5.04 percent now, up from 4.95 percent earlier.

HDFC Asset Management Company sold 1.1 lakh equity shares in Carborundum Universal via open market transactions on February 18. After stake sale, HDFC AMC holds 5.59 percent shareholding now, down from 5.65 percent earlier.

Nykaa informed that its litigation with L’Oreal S.A. has been settled. It had disclosed the details of pending litigation with L’Oreal S.A. in its IPO prospectus.

What to expect? 

NIFTY opened with a huge gap-down at 16,893 and slowly moved up. There was selling pressure around 17,000. There was a strong up-move towards the close and NIFTY closed the day at 17,092, down 114 points or 0.67%.

BANK NIFTY opened with a gap-down at 37,038. Support was provided by 37,000. The index failed to break 37,300 in the beginning but later crossed the level. The last-minute buying took the index to 37,371, down 314 points or 0.83%.

All the sectors closed in the red.

The US markets fell yesterday. The European markets consolidated.

The Asian markets are trading in the green. The U.S. Futures and the European futures are trading slightly higher.

SGX NIFTY is trading at 17,205 indicating a gap-up opening.

NIFTY has supports at 17,100, 17,000, 16,925 and 16,850. We can expect resistances at 17,250, 17,300, 17,350 and 17,410.

BANK NIFTY has supports at 37,300, 37,180 and 37,000. Resistances are at 37,500, 37,650 and 37,800.

NIFTY has the highest call OI build-up at 18,000. The highest put OI build-up is at 17,000.

BANK NIFTY has the highest call OI build-up at 38,000 and the highest put OI build-up at 37,000.

INDIA VIX  spiked to 26.7.

Foreign Institutional Investors net sold shares worth Rs 3,200 crores. Domestic Institutional Investors net bought shares worth Rs 4,100 crores. 

Everyone was in search of a positive news that might have triggered the sharp recovery. But the truth is that there has been no major update anywhere to push the markets up. Investors would have made use of the dip to buy as there was no reason for the market to fall further without war in place. The sanctions by Europe and the US were not as severe as expected. This could have triggered the recovery and our markets started moving up after Europe opened. However, Biden has said that he will come up with more severe sanctions if Russia moves ahead.

The Ukraine updates were a roller coaster ride yesterday with Russia saying it is their duty to protect the sovereignty of the separatist territories in Eastern Ukraine but they have no intention to expand the ‘Russian empire’. 

TCS did not make an attempt to recover yesterday whereas Infosys regained the lost points to close in the green.

Be careful while entering positions today when the VIX is so high with news capable of impacting the markets severely. Russian markets were 7% down yesterday but closed in the green! Also, make sure that you hedge your positions.

NIFTY should close above 17,350 to regain strength. 16,850 should act as the lower limit unless war erupts.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

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Daily Market Feed Pre Market Report

Situation Worsens, Global Markets Down – Share Market Today

News Shots 

Vedanta announced it has made an oil discovery in its exploratory well in Rajasthan’s Barmer district. 

NHPC said its 120 MW Sewa-II power station in Mashka in Union Territory of Jammu and Kashmir has resumed power generation. The power station was under complete shutdown from September 25, 2020 due to damage of the Head Race Tunnel (HRT).

7NR Retail informed exchanges that it has approved the sub-division of equity shares from face value of Rs 10 each to face value of Re 1 each.

Flowering Tree Investment Management Pte Ltd sold 36,000 shares in Shankara Building Products via open market transactions on February 18. With this sale, Flowering Tree now holds 4.85 percent stake from 5.01% earlier.

Himachal Pradesh gave an order to Krsnaa Diagnostics for providing diagnostic and laboratory services in the state.

What to expect? 

NIFTY opened with a gap-down at 17,209 and moved down before it made a good bounce-back from 17,070. There was selling pressure towards the end and NIFTY closed the day at 17,206, down 70 points or 0.40%.

BANK NIFTY opened with a gap-down at 37,483 and moved similar to NIFTY. Resistance at 38,000 was strong enough to push BNF below 37,700. BANK NIFTY closed the day at 37,686, up 86 points or 0.23%.

Metals moved down by more than 2%.

The US markets were closed yesterday on account of President’s day. The European markets fell heavily.

The Asian markets are trading lower. The U.S. Futures and the European futures are in the red.

SGX NIFTY is trading at 16,990 indicating a huge gap-down opening.

NIFTY has supports at 17,000, 16,900 and 16,850. We can expect resistances at 17,100, 17,250 and 17,410.

BANK NIFTY has supports at 37,300, 37,000 and 36,700. Resistances are at 37,800, 38,000 and 38,400.

NIFTY has the highest call OI build-up at 18,000. The highest put OI build-up is at 17,000.

BANK NIFTY has the highest call OI build-up at 39,000 and the highest put OI build-up at 37,000.

INDIA VIX  is at 22.9.

Foreign Institutional Investors net sold shares worth Rs 2,300 crores. Domestic Institutional Investors net bought shares worth Rs 2,400 crores. 

Ukraine was again the hot topic yesterday. Russian military said that they have killed five men trying to cross the Ukraine-Russia border and this has been denied by Ukraine. We can expect Biden-Putin summit this week. The Foreign ministers of the countries will meet soon. Russia has asked for the recognition of the rebel republics that broke away from Ukraine whereas Ukraine has sought UN Security Council to come forward to intervene. 

After a while, Russia recognised the sovereignty of the two Separatist territories and EU Commission said that this is a violation of International Law. Putin ordered troops to Ukraine following the act of recognition. Ukraine said that Russia has turned down all the peace efforts but they will not give up their land. UN Security Council met a few minutes ago and the US said that the consequences Russia will have to face will be dire. US and UK have announced new sanctions on Russia now. As you can see, the situation is turning worse there and the global markets are significantly down now.The Russian markets fell by more than 10% yesterday.

The other factors and technical analysis have become insignificant today. Today’s market will be driven by news coming from various parts of the world. As the report is being written, Japan’s PM has condemned the Russian actions and warned of a strong response in case invasion happens.

We will have to wait till evening to see how the US markets would reopen after a gap of three days. Conservative option sellers can wait till Wednesday to enter a position after seeing how US performs. 

Let us closely watch 16,800 in case fall continues.

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Daily Market Feed Pre Market Report

Sgx Nifty Down; Ears to News From Ukraine – Share Market Today

News Shots 

Future Retail paid $14 million as interest for the half year on 5.60% Senior Secured Notes (USD). The company had missed the payment which was due on Jan. 24.

Gulf Oil Lubricants will buyback 14,16,667 shares, representing 2.8% of the total paid up capital at buyback price of Rs 600 per share.

Godawari Power & Ispat got into agreement to sell 50 MW (CGEL) solar thermal power plant for Rs 665 crore.

Union Bank subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced below 10% in due course.

SBI subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced to 5% by March 31, 2022

Hinduja Global won $281 Million U.K. Test-and-Trace Contract.

What to expect? 

NIFTY opened with a gap-up at 17,242 and moved up on Friday. There was selling pressure in the second half and NIFTY dropped from 17,380 to close the day at 17,276, down 28 points or 0.16%.

BANK NIFTY opened with a gap-down 37,372 and took a strong support at 37,300. The index moved to 37,800 but there was selling towards the end and BANK NIFTY closed the day at 37,599, up 68 points or 0.18%.

All other sectors closed in the red but had a consolidation day.

The US markets and the European markets closed in the red on Friday.

The Asian markets are trading lower. The U.S. Futures and the European futures are in the green now.

SGX NIFTY is trading at 17,150  indicating a gap-down opening.

NIFTY has supports at 17,250, 17,210, 17,150 and 17,100. We can expect resistances at 17,380, 17,415, 17,500, 17,540 and 17,610.

BANK NIFTY has supports at 37,300, 37,000 and 36,700. Resistances are at 37,800, 38,000 and 38,400.

NIFTY has the highest call OI build-up at 18,000. The highest put OI build-up is at 17,000.

BANK NIFTY has the highest call OI build-up at 39,000 and the highest put OI build-up at 37,500.

INDIA VIX is at 22.2.

Foreign Institutional Investors net sold shares worth Rs 2,530 crores. Domestic Institutional Investors net bought shares worth Rs 1,930 crores. 

Ukraine issue is heating up with the West strongly doubting that the Russian invasion can take place anytime soon.  US National Security Council held a meeting yesterday to discuss the same.

Though there is global negativity, the Asian markets have not reacted much. They are trading in the red now, but not significantly lower. SGX Nifty is trading lower. We can expect a bounce-back in NIFTY after opening lower.

HDFC is moving up despite negativity in the general market. Let us keep an eye on the stock.

I will be watching 17,370 on the upside and 17,150 on the downside.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!