INTRADAY TRADING
Tech View: Nifty needs a decisive move above 24,400. Here’s how to trade on Thursday
Nifty ended Wednesday’s session with a gain of 163 points to form a small negative candle but broke out of a sideways consolidation movement on the daily chart ahead of Thursday’s expiry.
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
Tech View: Nifty bulls using intraday dips to go long. Here’s how to trade on Tuesday
Positive chart pattern like higher tops and bottoms is intact. The underlying trend of Nifty remains positive. The market is racing towards the next upside target of 24,400 levels in the near term. Immediate support is placed at 23,980 levels, said Nagaraj Shetti of HDFC Securities.
Tech View: Nifty breaks 4-day winning streak. Here’s how to trade next week
Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle.
Tech View: Nifty breaks key hurdle after 2 weeks. Here’s how to trade on Wednesday
Nifty maintains positive momentum, poised for potential breakout towards 24,000 with immediate support at 23,550, says HDFC Securities analyst. According to experts, Nifty moved above 23,700 to make a new all-time high of 23,754, showing resilience amid global sluggishness.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Domestic markets hit new highs for the fifth day, with Nifty futures trading higher. Brent crude futures rose, while US West Texas Intermediate crude dropped. The rupee settled lower against the US dollar.
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Tech View: Nifty forms bearish engulfing pattern. Here’s how to trade on Thursday
Nifty placed at the highs, but that’s not any confirmation of any significant reversal pattern building at the highs. Again, weakness below 23,300 levels could be considered as a short-term top reversal pattern.
Tech View: 23,500 key support for trend-following traders. Here’s how to trade on Wednesday
As it has sustained above the hurdle of 23,515 levels, it is expected that Nifty would move towards the next resistance of 1.786% Fib extension at 23,950 levels in the near term. The immediate support is placed at 23,450.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 24%
Last few days of movement of the Nifty and Sense will make a number of people forget about what happened in March this year. The fact is that when valuations are high and they are even if takes into account the Q4 numbers. The probability of volatility hitting the street is always high. So, it would be better to stay ready for volatility both for domestic and global reasons. At this point of time, one cannot rule out sudden profit booking which can bring more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 44%
After watching the events for the first few trading sessions post elections, bulls are full back in control of the street. Whether it is large, mid or small cap, both at the level of indices and the market breadth of each of these segments, it has been positive. As the valuations stay at higher levels, it is very likely that over the next few weeks, there would be some sectors which see some cooling down, as the others which had seen buying get held up for elections, might see another round of strong comeback on the street. The first indication of that came up as railway stocks saw a comeback. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Brightcom Group stock suspended from trading on BSE, NSE
Brightcom Group shares have been halted from trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today. This suspension will persist until the company adheres to the master circular issued by the NSE.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 34%
Given the way indices and broader markets have panned out, it is very likely that we are going to soon see the market hitting new highs. There is a high probability that even the market breadth is going to remain positive, the only thing which needs to be watched very carefully would be when do we see FPI making a comeback. Because that would be leading to another round of upward movement in all segments of market. There is another thing which will happen, there are going to be some areas which will get more focus in the coming days. So, next we might see some sectors and stocks doing extremely well, while others may continue to be laggards. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 35%
In the first trading session post the formation of the new government, it is bulls which can be seen on the street and bears after their one day adventure are sitting on side. If one looks at the composition of the Nifty and sensex, they can be impacted by movement in one or two sectors and that is probably the reason why it is important to de-link with what is happening in nifty and broader market indices. Given the way indices and broader markets have panned out, it is very likely that we are going to soon see the market hitting new highs. But will your portfolio value hit a new high is something which needs to be watched. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Ahead of Market: 10 things that will decide stock action on Monday
Nifty50 and Sensex, the benchmark equity indices, reached record highs on Friday, reclaiming losses incurred on election day. The surge was attributed to expectations of political stability and forecasts indicating accelerated economic growth.
Mcap of 8 of top-10 valued firms jumps Rs 3.28 lakh cr; TCS, HUL, Reliance lead winners
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.
GIFT Nifty trades on a muted note; here's the trading setup for today's session
GIFT Nifty: Domestic equities rose for a second day as investors analyzed Lok Sabha 2024 elections outcome. Focus on government formation, ECB meeting today, and RBI policy tomorrow.
S&P 500, Nasdaq close slightly down ahead of US payrolls data
The S&P 500 and Nasdaq composite dipped from record highs ahead of key labor market data. Nvidia fell, while utilities and industrials dragged the S&P 500 lower. Investors await the U.S. nonfarm payrolls report, which may influence Federal Reserve decisions.
Ahead of Market: 10 things that will decide D-Street action on Friday
The NSE Nifty 50 index ended 0.89% higher at 22,821 points and the S&P BSE Sensex rose 0.93% to 75,074, adding to their gains of more than 3% on Wednesday.
GIFT Nifty climbs over 150 points; here's the trading setup for today's session
Domestic stocks saw a significant bounce back as confidence surged following the reconfirmation of the NDA's third consecutive term in government. Yashovardhan Khemka, Senior Manager of Research & Analytics at Abans Holdings, noted that in the short term, the market will likely stay fixated on government formation, particularly watching for key cabinet appointments in Finance, Defense, Roads, Energy, Commerce, and Railways.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark key indices gained over 3% each on Wednesday. The Nifty Bank saw its best percentage gain since February 1, 2021. HDFC Bank, SBI, L&T were among the most active stocks on NSE in value terms. The market breadth favoured bulls with 2,597 stocks ending in the green, while 1,221 names settling with cuts.
Nifty Bank climbs Mt 51K for first time; what should traders do?
The Nifty Bank broke key resistance levels ahead of the Lok Sabha election results, with experts advising caution for a buy-on-dips strategy.
Rupee logs best intraday rise in over five months
The rupee's strengthening also spurred importer hedging on Monday, which eroded the currency's gains, while traders also cited bids from state-run banks when the local currency rose above 83.
Brokers make trading costlier to discourage risky bets
Brokers in Mumbai are increasing trading costs ahead of the election results to mitigate risks. Measures include raising margins and seeking more collateral. The BSE advised caution in placing orders, with HDFC Securities and ICICI Securities implementing changes in margin requirements.
Wider trading range for Nifty likely to be between 22,200 to 22,800: Chandan Taparia
As of now, the next support for index goes at 50-day exponential moving average and that comes near slightly below to 22,500 zone and then major support goes at 22,222 which was the earlier important level which supported the market to get the breakout.
Gold Price Today: Yellow metal opens below Rs 72,000/10 grams, while silver flat at Rs 90,591kg
Gold prices on the MCX for June futures contracts slipped by Rs 126 or 0.18% to reach Rs 71,451 per 10 grams amid a backdrop of escalating treasury yields and profit booking.This decline in gold prices marks its most significant weekly drop of the year, following a record high earlier in the week.
Tech View: Nifty inching closer to record high. What should traders do on Thursday expiry
Nifty closes 69 points higher, forming a bullish candle with strong buying interest. Holding above 22,590, it may reach 22,750, supported by 22,500. Analysts anticipate further uptrend, with key support at 22,500 and resistance at 22,800.
Equity markets to stay open today for special trading
Trading will occur in two sessions—first, from 9:15 am to 10:00 am, and second from 11:30 am to 12:30 pm. Traders will be allowed to place only delivery trades, with no intraday trading permitted.
Gold Price Today: Gold opens at Rs 72,884/10 grams, while silver at Rs 87,155/kg
Gold prices on MCX dip slightly amid hopes for Fed rate cuts. Despite Thursday's loss, gold remains steady, set for second weekly gain. Silver outperforms gold, up 25%. US Dollar Index rises.
Gold Prices Today: Gold opens at Rs 72,365/10 grams, silver above Rs 85,000/kg
Gold futures on MCX traded flat ahead of US inflation data, with June contracts inching up 0.09% to Rs 72,365/10 grams. Meanwhile, MCX Silver July contracts rose 0.18% to Rs 85,569/kg. The expected moderation in US inflation may hint at potential Federal Reserve rate cuts, supporting gold prices.
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