HDFC Securities Market Update: Recent Episodes
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Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Indian markets could open flat to mildly lower, in line with mixed Asian markets today and lower US markets on Sept 21.Listen to the D-Street Details with Devarsh Vakil
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Sept 20 post the US Fed meet outcome Listen to the D-Street Details with Devarsh Vakil
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Sept 19. Listen to the D-Street Details with Devarsh Vakil
Indian markets could open mildly lower, in line with mostly negative Asian markets today and lower US markets on Sept 15.Listen to the D-Street Details with Devarsh Vakil
Trend of the Indian markets is bullish, and stock specific bullish bets can be taken in rest of the session with appropriate stoploss.Catch the mid-market details with Vinay Rajani
Indian markets could open mildly higher, in line with mostly positive Asian markets today and higher US markets on Sept 14Listen to the D-Street Details with Devarsh Vakil
Intraday support for the Nifty is seen near 20,000 levels. Intraday resistances for Nifty are seen at 20,114 and 20,190. Trend of the Indian markets is bullish, and traders are advised to utilize intraday dips to go long.Catch the mid-market details with Vinay Rajani
Indian markets could open mildly higher, in line with largely positive Asian markets today and higher US markets on Sept 13.Listen to the D-Street Details with Devarsh Vakil
Positional support for Nifty is seen in the band of 19,800-19,900. Catch the mid-market details with Vinay Rajani
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Sept 12. Listen to the D-Street Details with Devarsh Vakil
We expect Nifty to outperform from hereon. Traders should reduce the exposure in smallcap and midcap stocks. Catch the mid-market details with Vinay Rajani
Indian markets could open higher, despite mixed Asian markets today and in line with slightly higher US markets on Sept 11. Listen to the D-Street Details with Devarsh Vakil
Today is the 7th consecutive session for Nifty for registering gains. Intraday resistances for Nifty are seen at 19,945 and 20,000, while support for the same is seen at 19,882. Trend of the Market is expected to remain bullish for rest of the session and every intraday dip should be utilized to go long in Nifty. Catch the mid-market details with Vinay Rajani
Indian markets could open mildly higher, despite mixed Asian markets today and in line with slightly higher US markets on Sept 08Listen to the D-Street Details with Devarsh Vakil
Resistances for Nifty are seen at 19,858 and 19,980Catch the mid-market details with Vinay Rajani
It could now stay in the 19,795-19,587 band with an upward bias for the near term.Listen to the D-Street Details with Devarsh Vakil
Indices have become choppy today and we need to closely track today’s close for getting clear direction in the benchmark indices like Nifty and Bank nifty. Catch the mid-market details with Vinay Rajani
Indian markets could open mildly lower, in line with mostly lower Asian markets today and lower US markets on Sept 06.Listen to the D-Street Details with Devarsh Vakil
Nifty has got strong support in the zone of 19,450-19,500 zone. Intraday support is placed at 19,543. Intraday Resistances for the Nifty are seen at 19,562 and 19,600. Traders are advised to hold nifty longs with 19,500 Stoploss. Catch the mid-market details with Vinay Rajani.
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Sept 05.Listen to the D-Street Details with Devarsh Vakil
Intraday supports for the Nifty are seen at 19,550 and 19,500. Resistances for the Nifty are seen at 19,590 and 19,645. Trend of the Nifty is expected to remain range bound, while stock specific bullish moves in mid and smallcap is likely to continue. Catch the mid-market details with Vinay Rajani
Nifty could now face resistance in the 19,584-19,646 band while 19,310 could offer support.Indian markets could open flat, in line with mildly lower Asian markets today.Listen to the D-Street Details with Devarsh Vakil
Trend of the Market is expected to remain bullish for rest of the session and every intraday dip should be utilized to go long in Nifty. Short term supports for Nifty are seen at 19,432 add 19,383. Above 19,500 Nifty could move towards 19,586.Catch the mid-market details with Vinay Rajani
Indian markets could open mildly higher, in line with mildly positive Asian markets today and positive US markets on Sept 01Listen to the D-Street Details with Devarsh Vakil
Benchmark indices like Nifty and Bank Nifty have been consolidating in a narrow range for the last 6 trading sessions. However, the breadth of the market is very strong as Smallcap and midcap indices continued to soar and make fresh all-time highs. Support for Nifty is seen in the zone of 19,223-19,290, while 19,452 is the immediate resistance for Nifty. Trend of the Market is expected to remain choppy and rangebound till the Nifty remains in the range of 19,223-19,452. Stock-specific bullish moves from broader markets are likely to continue. Catch the mid-market details with Vinay Rajani
U.S. stocks finished mostly lower on Thursday to end August on a sour note after the Federal Reserve’s preferred inflation gauge proved largely in line with expectations for July.Three major stock indexes wrapped up a volatile month with the large-cap S&P 500 index suffering its first loss since February (1.8%), while the Nasdaq Composite logged its first monthly slide since December 2022 (2.2%).The U.S. is expected to add 170,000 jobs in August, down from 187,000 in the prior month, based on a poll of economists. In contrast, the U.S. added an average 287,000 new jobs a month in the first four months of the year.India's Gross Domestic Product (GDP) growth rate hit a four-quarter high in April-June, rising to 7.8 percent.The People’s Bank of China announced Friday that starting from Sept. 15, it would reduce the foreign exchange reserve requirement ratio for financial institutions to 4%, from 6%.Stocks in Asia broadly advanced as China rolled out more stimulus to aid its ailing economy and as traders awaited Friday’s jobs reading to gauge the outlook for Federal Reserve policy.Nifty opened higher and swung between gains and losses to finally end lower in trade on Aug 31. Concerns over shortfall in rains seem to be weighing on minds of traders. At close, Nifty was down 0.48% or 93.7 points at 19,253.8. Nifty snapped a three-day winning streak and, in the process, ended the month with a 2.53% fall. It now has crucial support in the 19,201-19,229 band for the near term while 19,336 could act as a resistance.Indian markets could open flat, in line with mildly positive Asian markets today and despite lower US markets on Aug 31.Listen to the D-Street Details with Devarsh Vakil
With the Nifty correcting further, more downsides are likely once the immediate support of 19,290 is broken. Immediate resistance is at 19,388. Catch the mid-market details with Subhash Gangadharan
Nifty could now stay in the 19,306-19,472 band for the near term. Indian markets could open mildly higher, in line with positive Asian markets today and higher US markets on Aug 30.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty surging higher, traders will need to watch if the index can cross the immediate resistance of 19,453 for further upsides. Crucial supports are now at 19,407. Catch the mid-market details with Subhash Gangadharan
Violation of the range 19452-19288 on either side could bring momentum back to the Nifty on the respective side. Indian markets could open higher, in line with positive Asian markets today and higher US markets on Aug 29. Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,398 for further upsides. Crucial supports are now at 19,317. Catch the mid-market details with Subhash Gangadharan
Indian stocks looked poised to follow U.S. equities higher.
US markets posted its first back-to-back daily gain since the end of July. Energy shares were among Monday's strongest sectors, as crude oil futures rose for a third-straight session and closed at the highest level in over a week.
Global stocks looked poised to follow U.S. equities higher, with traders awaiting a raft of economic figures over the next few days for clues on the outlook for global central bank policy.
Japan's unemployment rate unexpectedly rose for the first time in four months in July, to 2.7% from June. Asian markets traded higher on Monday after China announced that The PBOC may consider cutting the reserve requirement ratio for commercial lenders in the fourth quarter to improve liquidity.
Nifty snapped a two-day fall and ended higher on Aug 28 aided by positive global cues. At close, Nifty was up 0.21% or 40.3 points at 19,306.
Nifty could remain in the 19,230-19,472 band for the near term.
The Indian stock market is likely to open higher on Tuesday led by positive global cues amid gains in Asian and US peers.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,388 for further upsides. Crucial supports are now at 19,303. Catch the mid-market details with Subhash Gangadharan
Nifty continued its downward journey on Aug 25 and fell 0.62% to close at 19,265.8. Next support for the Nifty is seen in the zone of 19,050-19,100. On the upside 50 days SMA, placed at 19,375 would act as a resistance now. Balanced message from Jackson Hole on Friday could result in some upward bounce early this week. Indian markets could open higher, in line with positive Asian markets today and higher US markets on Aug 25.
Listen to the D-Street Details with Devarsh Vakil.
With the Nifty correcting further, more downsides are likely once the immediate support of 19,229 is broken. Immediate resistance is at 19,340. Catch the mid-market details with Subhash Gangadharan
U.S. stocks ended sharply lower Thursday, extending losses ahead of the closing bell as Nvidia Corp.’s post-earnings pop faded and the U.S. dollar strengthened a day ahead of an eagerly awaited speech by Federal Reserve Chair Jerome Powell.
Powell is scheduled to speak Friday morning at the Kansas City Fed’s Jackson Hole Economic Symposium. The event, an annual highlight of the central bank’s summer calendar, got underway Thursday.
RBI Governor Shaktikanta Das cautioned that headline inflation is expected, to harden significantly in July-August, driven by the spike in tomato and other vegetable prices. The majority of the members of the Monetary Policy Committee (MPC) expressed caution on the pick-up in retail inflation in the near term, as shown in the minutes of the monetary policy meeting held on August 8-10.
Asian stocks fell after a selloff on Wall Street while Treasury yields stabilized after further upward pressure as traders await Jerome Powell’s speech for clues on the interest-rate outlook.
Nifty opened higher on August 24 but soon ran into profit-taking to end in the negative after three days of gains. At close, Nifty was down 0.29% or 57.3 points at 19386.7. Nifty failed to build on the gains of three days and the street took the positive developments of Aug 23 as an opportunity to take profits. Nifty could now remain in the 19253-19580 band.
Indian markets could open lower, in line with mostly lower Asian markets today and sharply lower US markets on August 24 Listen to the D-Street Details with Devarsh Vakil
With the Nifty correcting from the highs, further downsides are likely once the immediate support of 19,437 is broken. Immediate resistance is at 19,470. Catch the mid-market details with Subhash Gangadharan
U.S. stocks finished higher on Wednesday with the large-cap benchmark S&P 500 booking its best day since June 30.
Nvidia Corp. shares rallied in the extended session as it reported a 141% surge in data-center sales and record results. Nvidia shares rallied 6.6% after hours. Nvidia forecast third-quarter revenue of $15.68 billion to $16.32 billion, while analysts had estimated $12.59 billion, with $9.15 billion of that coming from data-center sales.
Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally.
Nifty overcame early volatility to end higher for the third session on August 23. At close, Nifty was up 0.25% or 47.6 points at 19,444. Nifty formed a high wave type candle and made a higher high compared to the previous session. It could now stay in the 19,320-19,558 band for the near term.
Indian markets could open higher, in line with higher Asian markets today and positive US markets on Aug 23.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders, will need to watch if the index can cross the immediate resistance of 19,461 for further upsides. Crucial supports are now at 19,366. Catch the mid-market details with Subhash Gangadharan
U.S. stocks ended lower in choppy trading on Tuesday, as bank shares slid following downgrades of smaller players by S&P Global.
investors awaited a speech at the end of the week by Federal Reserve Chair Jerome Powell.
Macy’s Inc. sank 14% as credit-card delinquencies accelerated, raising a red flag about US consumer health.
Nifty swung between gains and losses on Aug 22 and closed almost flat despite supportive global markets. At close, Nifty was up 0.01% or 2.9 points at 19,396.5.
Nifty failed to build on the gains of the previous session and witnessed a 62-point high low range, which is the smallest since June 05, 2023.
19,310-19,483 could be the trading band for the Nifty in the near term.
Indian markets could open flat, despite mildly higher Asian markets today and lower US markets on Aug 22.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,444 for further upsides. Crucial supports are now at 19,381. Catch the mid-market details with Subhash Gangadharan
The S&P 500 and Nasdaq Composite finished with their first gains of the past five sessions on Monday.
A rally in big tech spurred a rebound in stocks.
The US 10-year yield ended the New York session at 4.339% or its highest closing level since Nov. 6, 2007.
Asian equities opened mostly higher Tuesday following a rally in big tech that spurred a rebound on Wall Street, though elevated Treasury yields kept risk sentiment in check.
Nifty ended higher on Aug 21 aided by buying across Metals, Power, and IT stocks. At close, Nifty was up 0.43% or 83.5 points at 19,393.6. Nifty bounced up as expected post the doji formed in the previous session. 19,483 is the resistance for the Nifty in the near term while the 19,253-19,310 band could provide support.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,421 for further upsides. Crucial supports are now at 19,301. Catch the mid-market details with Subhash Gangadharan
U.S. stocks mostly fell on Friday, with the S&P 500 closing slightly lower in a fourth straight day of declines, as the recent rise in bond yields and China’s economic woes left major benchmarks with another losing week. For the week, the Dow fell 2.2% while the S&P 500 slid 2.1% and the Nasdaq dropped 2.6%.
Megacap tech stocks slumped for a third straight week — the longest such streak in 2023 — as fears of higher global interest rates weighed on sentiment while bonds bounced off multiyear lows.
The US 10-year Treasury yield climbed for a fifth straight week to finish Friday at 4.251%, according to Dow Jones Market Data.
Market attention also is focused on China, after builder Evergrande filed for bankruptcy protection in U.S. courts, and the People’s Bank of China stepped in to help its beleaguered currency.
China's securities regulator unveiled a package of measures on Friday aimed at reviving a sinking stock market, but investors said they would do little to boost confidence if the economy remains sluggish.
Asian markets tumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on.
Nifty fell for the second day on Aug 18, dropping 0.3%, or 64 points to 19,301.
There is a possibility of a downside breakout of the immediate support of 19,250 levels and then the Nifty could slide down to another base area of 19,100-19,000 levels in the near term. The recent swing high of 19,482 is expected to act as a short-term resistance for the Nifty.
Indian markets could open flat, despite mostly negative Asian markets today and lower US markets on Aug 18.
Listen to the D-Street Details with Devarsh Vakil
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Today’s low of Nifty is near 50 days of EMA support. Any level below 19,253 could drag the Nifty lower toward the next support of 19,050-19,100. On the daily chart, Nifty has been forming lower tops and lower bottoms, which indicates a down trend. Positional Resistance for the Nifty is placed at 19,500, and unless that is taken out every rise should be utilized to lighten long commitments. Intraday resistances for the Nifty are seen at 19,316 and 19,384. Catch the mid-market details with Vinay Rajani
U.S. stocks finished lower on Thursday, extending the losing streak to a third session as rising bond yields spurred weakness in some of the so-called Magnificent Seven mega-cap technology stocks.
While second-quarter corporate earnings have largely beaten estimates, higher bond yields have undermined the value of mega-cap technology stocks in particular in recent weeks.
China Evergrande Group filed for Chapter 15 bankruptcy protection in New York late Thursday.
Shares in Asia headed for a sixth daily decline Friday against the backdrop of worries about China and higher interest rates.
Nifty ended lower on Aug 17 after a two-day gain, pulled down by weak global cues. At close, Nifty was down 0.51% or 99.8 points at 19,365.3. Nifty has gone sideways for the past three days taking support from the 19,317-19,326 band.
On rises, 19,483 could offer resistance.
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Aug 17.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,365 for further upsides. Crucial supports are now at 19,337. Catch the mid-market details with Subhash Gangadharan
U.S. stocks finished lower on Wednesday, led by a slump in the technology-heavy Nasdaq Composite, after the Federal Reserve’s minutes from its July meeting show most senior officials saw “upside inflation risks” which could lead to more interest-rate hikes.
The S&P 500 index fell in eight of the last 11 sessions after 10-year Treasury yields rose 3.8 basis points to 4.258%. The yield finished the New York session at its highest level since June 13, 2008, amid concerns about an increased supply of government paper, and as economic data continues to generally surprise to the upside, suggesting the Fed has room to keep interest rates higher for longer to combat inflation.
Asian stocks fell across the region on Thursday as investors digested further signs of weakness in China.
Nifty ended minorly in the positive for the second consecutive session on Aug 16 after recovering sharply from the morning weakness. At close, Nifty was up 0.06% or 12.4 points at 19,446.9. Nifty formed a higher top and higher bottom formation compared to the previous session. Intra-day falls keep attracting buy-on-dips action. Nifty needs to cross 19,558 to beget higher confidence in the upmove. 19,296 could be a support in the near term.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Aug 16. Listen to the D-Street Details with Devarsh Vakil
With the Nifty bouncing back, traders will need to watch if the index can cross the immediate resistance of 19,466 for further upsides. Crucial supports are now at 19,359-19,317. Catch the mid-market details with Subhash Gangadharan
China’s central bank unexpectedly reduced a key interest rate by the most since 2020 to bolster an economy that’s facing fresh risks from a worsening property slump and weak consumer spending. The People’s Bank of China lowered the rate on its one-year loans — or medium-term lending facility — by 15 basis points to 2.5% on Tuesday, the second reduction since June.
The surprise move came shortly before the release of disappointing economic activity data for July showing growth in consumer spending, industrial output, and investment sliding across the board and unemployment picking up.
U.S. stocks closed lower Tuesday on downbeat news on China’s economy The S&P 500 on Tuesday closed below its 50-day moving average for the first time since March. It could portend more losses for the index India's retail inflation spiked in July, once again exceeding the central bank's target range, largely led by food prices. The Consumer Price Index-based inflation stood at 7.44% in July compared with 4.87% in June.
That's the highest reading since 7.79% in April 2022. Food and beverage inflation rose to 10.57% during the month from 4.6% in the previous month.
The Ministry of Finance has hiked the windfall tax on domestically produced crude, diesel, and aviation turbine fuel.
Fitch said that it may be forced to downgrade many U.S. banks, If Fitch downgrades the industry by one notch to AA- from A+ it would have to re-evaluate ratings on more than 70 U.S. banks it covers.
Asia stocks hit an 11-week low.
Nifty recovered from morning losses on Aug 14 to end marginally in the positive. At close, Nifty was up 0.03% or 6.3 points at 19,434.6.
19,563-19,576 band could be the next resistance while the 19,201-19,234 band could offer support in the near term.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Aug 15.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty in correction mode, traders will need to watch if the index can hold above the immediate intraday support of 19,340. Else, a further correction is likely. Catch the mid-market details with Subhash Gangadharan
The Dow finished Friday with a modest gain for the session and the week, while the S&P 500 index and Nasdaq Composite posted a second straight weekly loss.
U.S. stock indexes closed mostly lower on Friday, losing steam intraday, a trend that’s taken hold in mid-August as technology shares slump, longer-dated Treasury yields rise, and investors consider if corporate earnings can hold up through the rest of this year.
Rising Treasury yields also added to the pressure on stocks. The 10-year note yield was up 8.5 basis points at 4.166% on Friday.
The U.S. producer-price index rose 0.3% in July.
A survey showed U.S. consumer sentiment climbing to the highest level in nearly two years in July with calming inflation and a strong labor market boosting consumers.
India's industrial output grew by 3.7 percent in June, a three-month low. It is also below the consensus estimate of 5 percent.
Asian shares struggled on Monday ahead of China data (retail sales and industrial output) that is likely to amplify the case for serious stimulus.
Nifty fell for the second consecutive session on Aug 11, pulled down by weak global cues. At close, Nifty was down 0.59% or 114.9 points at 19,428.3. 19,300 could be the next support for Nifty while 19,645 could now prove to be a resistance.
Indian markets could open lower, in line with negative Asian markets today and despite mixed US markets on Aug 11.
Listen to the D-Street Details with Devarsh Vakil
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Post opening, Nifty witnessed selling pressure and the index reached the lowest level of the last 5 trading sessions. Nifty has got strong resistance at 19,645 and unless that is taken out, the view is to sell on rallies. Intraday supports for the Nifty are seen at 19,425 and 19,356.
Catch the mid-market details with Vinay Rajani
U.S. stocks eked out slight gains on Thursday, after an initial rally in the S&P 500 index and Nasdaq Composite faded, as investors gauged if July’s report on consumer prices could spell the end of Federal Reserve interest rate hikes.
US treasury yields, which have been a focus for stock investors lately, were also choppy, with the yield on the 10-year Treasury note jumping 7.6 basis points to 4.018%, its highest in a week.
The RBI MPC at its meeting on Aug 10 held the rates and stance unchanged even with a sharp increase in inflation forecast from 5.1% to 5.4% for FY24. We expect a rate cut perhaps in Q1FY25 but that would be data dependent.
Nifty fell on Aug 10, post a hawkish-sounding RBI MPC meet outcome. At close, Nifty was down 0.46% or 89.5 points at 19,543.1. Nifty is finding it tough to cross 19,645 on the up but keeps taking support at 19,440. A break of this band on either side could determine the near future trend of the Nifty.
Listen to the D-Street Details with Nandish Shah
Nifty is trading in a range. Further directional cues are likely to emerge on a move beyond the 19,467-19,645-trading range.
Catch the mid-market details with Subhash Gangadharan
U.S. stocks finished lower on Wednesday, posting back-to-back losses after a slump in technology shares and a jump in U.S. crude oil prices weighed on Wall Street, while investors absorbed news of deflation in China and looked ahead to the U.S. July consumer price index data due Thursday morning.
Investors awaited a batch of U.S. inflation reports which include the July consumer-price index data due Thursday and the producer-price index due on Friday for clues on whether the Federal Reserve is finally ready to call it quits on its most aggressive inflation fight in four decades.
Nifty closed higher on Aug 09 reversing from the morning weakness. At close, Nifty was up 0.32% or 61.7 points at 19,632.6. Traders await the RBI MPC meet outcome scheduled for Thursday. Nifty came out of the weakness of the previous session and the morning of Aug 09 and formed a bullish hammer-like pattern. 19,705 could be the next resistance for the Nifty in the near term while 19,463 could provide support. Any negative outcome from the RBI MPC meeting in terms of action or hint could accelerate the selling pressure.
Listen to the D-Street Details with Nandish Shah
With the Nifty in correction mode, traders will need to watch if the index can hold above the immediate supports of 19,450-19,439. Else, a further correction is likely. Catch the mid-market details with Subhash Gangadharan
U.S. stocks finished lower on Tuesday, though off session lows, as investors shunned assets viewed as risky following weak China international trade data for July and weighed the threat of a credit-rating downgrade on major U.S. banks.
Data showed the U.S. trade deficit narrowed by 4.1% to $65.5 billion in July.
A risk-off tone swept global markets after weak China trade data heightened concerns about a slowing global economy, while Moody’s Investors Service downgraded the credit ratings of 10 banks and placed six banking giants on review for potential downgrades.
Nifty snapped a two-day gain and ended marginally in the negative on Aug 08. At close Nifty was down 0.13% or 26.5 points at 19,570.9. Nifty formed a bearish Engulfing pattern on Aug 08, however, a fall below 19,524 could result in a faster down move. 19,634-19,678 could be the resistance band for Nifty in the near term.
Listen to the D-Street Details with Nandish Shah
Nifty is trading in a range. Further directional cues are likely to emerge on a move beyond the 19,533-19,635-trading range.
Catch the mid-market details with Subhash Gangadharan
U.S. stocks finished with solid gains on Monday, producing the best day for Dow industrials since mid-June, as investors kept a close eye on Treasury yields and the final stretch of earnings seasons. Treasuries fell as remarks from a Federal Reserve official signaled interest rates could remain higher for longer to tame inflation pressures.
With 84% of the companies in the S&P 500 having reported earnings for the second quarter, 79% of them have reported actual earnings per share above the mean EPS estimate, which is above the five-year average of 77% and the 10-year average of 73%, according to FactSet.
Nifty rose for the second consecutive session on Aug 07. At close, Nifty was up 0.41% or 80.3 points at 19,597.3. Nifty formed a spinning top after a two-day rise. This suggests some indecision on the part of participants on the near-term direction of the market. Nifty could stay in the 19,539-19,678 band for the near term.
Listen to the D-Street Details with Nandish Shah
With the Nifty bouncing back, further upsides are likely once the immediate resistance of 19595 is taken out. Weakness could re-emerge if the support of 19524 is broken.
Catch the mid-market details with Subhash Gangadharan
U.S. stocks ended lower on Friday, as investors parsed the July jobs report from the Department of Labor and Big Tech earnings from Amazon and Apple. For the week, the Dow slid 1.1%, the S&P 500 declined 2.3% and the Nasdaq sank 2.8%.
US stocks fell on Friday, giving up earlier gains after the latest labor-market report showed the U.S. economy continued to create jobs in July while average hourly earnings rose.
The yield on the 10-year Treasury note fell 12.8 basis points on Friday to 4.06%, its largest daily decline since early May.
Nifty snapped a three-day losing streak on Aug 04. At close, Nifty was up 0.70% or 135.4 points at 19,517. Nifty bounced a little on Aug 04 on expected lines. On a weekly basis, the Nifty has fallen 0.66% and the large upper and lower shadows on the weekly candlestick denote the tug of war between bulls and bears.
In the near term, the Nifty could vacillate between the 19,800 - 19,200 band.
Indian markets could open flat to mildly higher, in line with largely positive Asian markets today and despite lower US markets on Aug 04.
Listen to the D-Street Details with Devarsh Vakil
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
With the Nifty bouncing back, further upsides are likely once the immediate resistance of 19,539 is taken out. Weakness could re emerge if the support of 19,436 is broken.
Catch the mid-market details with Subhash Gangadharan
U.S. stocks ended lower on Thursday, with the S&P 500 declining for a third straight day as Treasury yields extended a sharp rise. The rise in bond yields accelerated after the Bank of England delivered another quarter-point interest rate rise.
Energy stocks benefited from rising oil prices after Saudi Arabia announced it would extend oil production cut through September.
China's central bank governor pledged on Thursday to guide more financial resources toward the private economy, indicating refreshed urgency from authorities to bolster business sentiment as economic momentum weakens.
Asian shares were mixed on Friday, while the dollar pulled back from a one-month peak as investors took stock of the slew of U.S. economic data that showed a resilient labour market ahead of crucial non-farm payrolls report due later in the day.
Nifty had one more down day on Aug 03 following weak global cues, though an end-session recovery helped cut losses. At close, Nifty was down 0.74% or 144.9 points at 19,381.7. Nifty fell for the third consecutive session and formed a high wave type candle suggesting a possibility of a small bounce and formation of a lower top. 19,563-19,300 could be the band for the Nifty in the near term. We could witness selling pressure on every rise with largecaps facing the brunt.
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Aug 03.
Listen to the D-Street Details with Devarsh Vakil
With the Nifty in correction mode, traders will need to watch if the index can hold above the immediate support of 19,361. Else, a further correction is likely.
Catch the mid-market details with Subhash Gangadharan
U.S. stock indexes finished sharply lower on Wednesday with the benchmark S&P 500 index registering its worst day since April, as markets were rattled by a lowering of the U.S. government’s credit rating by Fitch Ratings.
In U.S. economic data, private-sector employment rose by 324,000 in July, payroll processor ADP said, in a sign that businesses continue to hire in response to steady economic growth.
A private gauge of China's services activity edged up in July, pointing to continued recovery in the nation's services sector. The Caixin services purchasing managers index climbed to 54.1 in July from June's five-month low of 53.9.
Shares in Asia opened mostly lower after heavy selling in US stocks.
Nifty fell on Aug 02 in sympathy with other Asian markets post the downgrade of US ratings on the previous day, though a small recovery was seen towards the end of the session.
At close, Nifty was down 1.05% or 207 points at 19,526.6. Nifty fell with a down gap and fell below the previous week’s low on Aug 02.
It also closed below its 20DEMA which has been providing support all through the recent upmove since March 31.
On down moves, 19,202-19,303 bands could provide support.
Indian markets could open lower, in line with mostly lower Asian markets today and sharply lower US markets on Aug 02.
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With the Nifty in correction mode, traders will need to watch if the index can hold above the immediate support of 19,517. Else, a further correction is likely.
Catch the mid-market details with Subhash Gangadharan
U.S. stocks ended mostly lower on Tuesday afternoon, pulling back from 16-month highs.
Declining factory activity in the eurozone and China tempered investors' optimism.
Tuesday’s slippage in stock prices comes after a mixed batch of earnings reports, including Uber Technologies, Caterpillar, JetBlue, and Pfizer. The S&P 500 index is now only 4.6% away from a record high.
The US was stripped of its top-tier sovereign credit grade by Fitch Ratings, which criticized the country’s ballooning fiscal deficits and an “erosion of governance” that’s led to repeated debt limit clashes over the past two decades. The credit grader cut the US one level from AAA to AA+, echoing a move made more than a decade ago by S&P Global Ratings. major political battles over the nation’s borrowing and repeated standoffs over raising the debt limit were cited as the reason for the downgrade.
Asia stocks fell and haven assets advanced as Fitch Ratings downgraded the US sovereign.
Nifty closed marginally in the negative on Aug 01, pulled down by profit-taking in the results season. At close, Nifty was down 0.10% or 20.3 points at 19,733.6. Nifty corrected minorly on Aug 01. 19,867 – 19,646 could be the band for the Nifty in the near term. One will have to keenly watch to what extent the US credit rating downgrade impacts the global risk appetite.
Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Aug 01.
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With the Nifty correcting from the highs, further downsides are likely once the immediate support of 19,704 is broken. Immediate resistance is at 19,796. Catch the mid-market details with Subhash Gangadharan
U.S. stocks eked out small gains as July came to a close on Monday, booking a fifth consecutive monthly gain for the S&P 500 and Nasdaq Composite amid optimism over corporate earnings and a resilient economy.
A private gauge of China’s factory activity tumbled into contraction in July, weighed down by slower output and weaker market demand.
The windfall tax on petroleum crude in India has been significantly hiked to Rs 4,250 per tonne from Rs 1,600 with effect from August 1. The government also raised the windfall tax on diesel to 1 rupee per liter from nil earlier.
India's eight core sectors posted a growth of 8.2 percent in June, the highest in five months.
Shares in Asia opened higher on Tuesday following bullish trade on Wall Street.
Nifty resumed the uptrend on July 31 after a two-day fall aided by positive global cues and buying in IT and Metal stocks. At close, Nifty was up 0.55% or 107.8 points at 19,753.8. Nifty bounced up post a two-day fall and now is headed towards the 19,826-19,868 band. On falls 19563 could offer support. The broader market is performing even better even as the results season has entered a peak fortnight.
Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on July 31.
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After showing weakness in the last two sessions Nifty witnessed an upside bounce so far today. Immediate support is to be watched at 19,600.
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U.S. stocks finished Friday higher, with the Dow Jones Industrial Average notching a third straight week of gains, as investors digested data on inflation and consumer confidence.
Governor Kazuo Ueda announced Friday the central bank would allow yields to rise above a ceiling it now calls a point of reference. That paves the way for a future normalization of policy that has implications for a wide range of global assets and markets heavily exposed to Japanese money. Yields on 10-year Japanese government bonds jumped to their highest since 2014.
Oil futures pulled back from three-month highs on Friday, but still posted a fifth straight weekly gain.
The official gauge of China’s manufacturing activity improved slightly in July but remained in contraction for the fourth straight month, pointing to continued weakness in the world’s second-largest economy.
China said it will announce new measures to boost consumption in the government’s latest effort to steer a revival in the economy after its post-Covid recovery at the start of the year fizzled.
Equities in Asia opened higher Monday.
Nifty closed lower for the second straight day on July 28, pulled down by weak global cues and a series of muted Q1 results. At close, Nifty was down 0.07% or 13.9 points at 19,646.1.
19,562 becomes a crucial support for the Nifty. 19,748 could be a resistance in the near term.
Indian markets could open mildly higher, in line with positive Asian markets today and higher US markets on July 28.
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Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
After showing weakness from the highs on Thursday, the Nifty slipped into weakness so far today. The next lower supports to be watched around 19,500-19,450 levels.
Catch the mid-market details with Nagraj Shetti
U.S. stock indexes finished lower on Thursday, with the Dow Jones Industrial Average snapping a historic winning streak of 13 straight gains, as stocks erased an early advance scored after gross domestic product figures showed the U.S. economy picked up steam in the second quarter. On Thursday, the ECB raised rates by 25 basis points to a 23-year high, as expected, but President Christine Lagarde sent the euro tumbling with talk of a pause in September.
Asia-Pacific markets largely fell ahead of the Bank of Japan’s rate decision on Friday. Japan’s central bank is expected to keep its benchmark policy rate unchanged at -0.1 percent, but investors will be keenly watching for any signs of a shift in stance towards its yield curve control policy.
Domestic equity benchmarks the Sensex and the Nifty ended with losses on Thursday, the last day of the Nifty's July series futures and options contracts amid broadly positive global cues.
Nifty seems to be losing momentum and any level below 19,600 would confirm a bearish trend reversal. Short-term view on Nifty should remain cautious, till it surpasses the 19,900-20,000-resistance zone.
Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets yesterday.
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After showing an upside bounce from the lows on Wednesday, the Nifty slipped into weakness so far today. Immediate support is at 19,700.
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Dow clinches longest winning streak in more than 35 years.
The major U.S. stock indexes were mixed on Wednesday, with the announcement of the Federal Reserve's latest quarter-point interest rate hike and follow-up press conference triggering wild movement in indices. The Fed has raised interest rates to their highest level since early 2001. Fed's statement today left the door open for an additional hike, but the final decision will depend on how the economic data evolve between now and then. It noted that its rate-setting committee "remains highly attentive to inflation risks."
At the close of the session, S&P 500 Index was flat at 4566, the Nasdaq was down 17 points at 14,127 and the Dow Jones Industrial Average was up about 82 points at 35520. It’s the longest winning streak of Dow since Jan. 20, 1987. One more day in the green and the blue-chip gauge will be able to claim its longest winning streak in more than 125 years.
Recession fears are easing in large part due to data showing inflation is coming down. In turn, traders are betting the Fed will stop hiking interest rates, moves that have been restraining the economy’s potential.
US Second-quarter GDP is due out today before the market opens, offering the government's first estimate of spring economic growth after the first quarter's 2% annual gain. Economists are looking for a slight pullback to 1.8% in the second quarter.
About one-third of the S&P 500 companies are reporting earnings this week, with investors digesting results from Alphabet and Microsoft today (these two companies account for a little over 10% of the index) . Both companies beat estimates, but Microsoft announced more tepid sales growth and forecast a slowdown in its cloud-computing business.
European markets were lower, with headlines revolving around a surprising drop in U.S. sales from luxury brand LVMH.
Back home, Nifty managed to reclaim its level above its 5 days EMA, placed at 19,736. Recent swing lows of 19,615 should be the stoploss in trading long positions. On the upside 19,900-20,000 range could act as an immediate resistance.
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After showing weakness in the last few sessions, Nifty shifted into a sustainable upside bounce so far today. Intraday support is at 19,700 levels.
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US Stocks closed in the green on Tuesday as earnings reports rolled in and attention turned to the conclusion of the Fed's rate-setting meeting on Wednesday. The mystery isn't so much what could happen today, as what the Fed might signal for the next meeting in September. Futures trading indicates a nearly 100% probability that the Fed will raise interest rates by another quarter point, but markets see a greater than 80% probability of the Fed keeping rates the same in September, according to the CME FedWatch Tool.
Commodities especially metal stocks have risen in our markets in anticipation of a large Chinese package. Nifty swung between gains and losses before closing marginally in the green. Nifty made a near hammer-like pattern after a two-day fall, suggesting the possibility of a short-term upward reversal.
Nifty could stay in the 19,783-19,567 band for the near term.
Indian markets are likely to open mildly higher in line with global cues.
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After showing weakness in the last couple of sessions, Nifty shifted into a range-bound movement with positive bias so far today. Intraday support is at 19,650.
Catch the mid-market details with Nagraj Shetti
The Dow Jones Industrial Average finished on Monday with an 11th straight day of advances.
The U.S. economy grew in July at the slowest pace in five months, S&P surveys of purchasing managers showed. They pointed to weaker conditions later in the year.
Oil prices climbed about 2% to a nearly three-month high on Monday on tightening supply, rising U.S. gasoline demand, hopes for Chinese stimulus measures, and technical buying.
Chinese shares pushed Asian stocks higher on optimism that more economic support will come from Beijing. While the Communist Party’s top decision-making body fell short of announcing large-scale stimulus, its vow to provide a boost to the slowing economy helped give bullish momentum to equity traders.
Nifty fell for the second consecutive session on July 24 dragged down by profit-taking post results from some companies.
At close, Nifty was down 0.37% or 72.7 points at 19,672.4.
19,595 and 19,524 are the next supports for the Nifty while 19,832 could be the resistance.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on July 24.
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After showing sharp weakness on Friday, Nifty shifted into a weakness with volatility as of now. Intraday support is at 19,650 levels.
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Indian markets could open lower, in line with mixed Asian markets today and mixed US markets on July 21.
U.S. stock indexes ended mixed on Friday in choppy trade, though the Dow Jones Industrial Average extended a winning streak to 10 days (its longest winning streak since August 7, 2017).
With 18% of S&P 500 companies reporting actual results, about 75% of which have already reported exceeding analysts’ expectations. The current quarter is forecast to see earnings fall 9.6%.
The Fed will meet next Tuesday and Wednesday. The central bankers will release a policy statement announcing their decision on Wednesday.
Stocks in Asia were mixed at the start of a busy week that will see a wave of central bank decisions.
Attention in Chinese markets this week is on any further government stimulus with a Politburo meeting approaching.
Nifty fell sharply on July 21, following disappointing results/guidance from IT companies including Infosys.
It fell at the fastest pace in about 18 weeks. At close, Nifty was down 1.17% or 234.2 points at 19,745.
Nifty ended in the negative on July 21 after a six-day winning streak. The Nifty could stay in the 19,524-19,854 band for the near term. A move below 19,524 could confirm the formation of a top at the weekly high of 19,992.
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After showing a sustainable upmove in the last few sessions, Nifty slipped into sharp weakness so far today. Intraday support is at 19,650 levels.
Catch the mid-market details with Nagraj Shetti
The S&P 500 and Nasdaq fell on Thursday, weighed down by drops in Tesla and Netflix following their quarterly results, in contrast, the Dow Jones Industrial Average managed to post its ninth consecutive daily gain, thanks in part to better-than-expected earnings from Johnson & Johnson.
Tesla's shares tumbled after the electric-vehicle maker reported a drop in its second-quarter gross margins to a four-year low and CEO Elon Musk hinted at more price cuts. Netflix also slumped after the streaming video company's quarterly revenue fell short of estimates.
Investors are grappling with a potential recession and prospects the current earnings season won't live up to lofty expectations fueled by a stronger-than-expected first quarter.
Back home, IT major Infosys numbers were in line with estimates and TCV for the quarter was at US$2.3 bn, with net new of 56.1%. The company has revised its revenue guidance to 1-3.5% from earlier guidance of 4-7% for FY24E, and operating margin guidance maintained at 20-22%. Infy ADR finished almost 9% lower on NYSE.
IT stocks may put pressure on indices at the opening and other sectors like financials and Pharmaceuticals will try to support the indices.
Nifty has been finding support on its 5 days EMA, which is currently placed at 19,778. Resistance for the Nifty is seen at 20055, which happens to be a 78.6% Fibonacci extension level considering the previous major swings.
A cut in guidance by Infosys could pressurise the IT sector and Nifty at the opening.
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Nifty continued with range-bound action with positive bias. Intraday support is at 19,750 and the next upside levels to be watched are around 19,950-20,000 levels.
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A special Session on Reliance will be in the limelight today.
The major U.S. indexes continue rallying behind an earnings season that has brought stronger-than-expected results so far.
Post-closing, Netflix disappointed with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. Tesla is down after the bell as the electric vehicle maker reported revenue and earnings beat, but margins that came in below expectations.
The earnings calendar will stay busy the final two trading days this week, with about 110 U.S. companies scheduled to report results.
The NSE will conduct a special pre-open session from 9 AM to 10 AM. This means normal trading in RIL shares will take place post-10 AM. Given the delayed trading in RIL, the computation of the Nifty50 index level will be based on 49 stocks during the pre-open session. After the closure of the special pre-open session, the discovered price of RIL and the indicative price of Jio Financial would be calculated simultaneously. This derived price of Jio Financial will be considered on a daily basis for Nifty index value computation until it gets listed on the bourses. Once Jio Financial shares get listed on exchanges, the stock will remain as the 51st stock in the Nifty 50 index for three days. This will help volatility to settle in and let investors adjust their portfolios.
Nifty continued its upward journey for the fifth day in a row to close at fresh all-time high levels. For the short-term, support for the Nifty has shifted to 19,690. Immediate resistance for the Nifty is placed around 20,050 levels.
Indian markets are likely to open mildly lower on the expectation of softer US markets in the evening today on lower-than-expected earnings from Tesla and Netflix.
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After showing high volatility at the highs on Tuesday, the Nifty shifted into a choppy movement as of now. Intraday support is at 19,700 levels.
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Dow closed at its highest level since April 2022
U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years. The Dow registered its seventh-straight session of gains, its longest streak since March 2021, and closed at its highest level since April 2022.
This comes as retail sales rose less than economists had expected. That’s good news for the stock market because it means the economy is still growing, but not so rapidly that the Federal Reserve has to tamp down runaway inflation by continuing its interest-rate hikes.
Technology was the best-performing sector, as Microsoft shares gained 4% to a record close of $359.49 after announcing it would charge more to access new artificial intelligence features in its Office software.
Asian stocks are mixed today as corporate earnings rolled in. Confidence at big Japanese manufacturers fell in July for the first time in six months, the Reuters Tankan survey showed on Wednesday, in a sign of growing exporter concern about weakening overseas demand.
Nifty closed lower than opening levels, suggesting some intra-day profit-taking on 18th July. It formed a high wave-type pattern after a rise, hinting at some consolidation. 19,819-19,612 could be the trading range for Nifty in the near term.
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Nifty displayed high volatility on Tuesday at the new high of 19,800 levels. Intraday support is around 19,700-19,650 levels.
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US stocks resumed a rally as investors weighed bets the Federal Reserve is approaching the end of its interest-rate hikes.
The S&P 500 and Nasdaq Composite closed at 15-month highs on Monday, while Dow industrials notched a sixth straight session of advances, as stock investors shook off disappointing data on China’s economy that had curtailed risk appetite earlier in the day.
Meanwhile, investors geared up for a busy week of second-quarter corporate results.
Asian stocks traded mixed on Tuesday.
Nifty rose on July 17 to touch yet another all-time high. At close, Nifty was up 0.75% or 146.9 points at 19,711.45. Nifty rose once again on July 17, making a new all-time high closing. 19,567-19,800 could be the trading range for the Nifty in the near term though it seems due for some correction shortly. Bank stocks and the bank sector could be in the limelight in the near term.
Indian markets could open flat to mildly higher, in line with mixed Asian markets today and higher US markets on July 17.
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Nifty continued with follow-through upmove with decent gains so far today. Further upside is expected in the mid to later part of the session.
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U.S. stocks ended mostly lower on Friday, with the S&P 500 index snapping four straight days of gains, but the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all notched weekly gains. For the week, the Dow rose 2.3%, the S&P 500 gained 2.4% and the technology-heavy Nasdaq jumped 3.3%.
The rally in bonds and stocks hit a wall on Friday, with strong economic data reinforcing the view that it may be too early for the Federal Reserve to claim victory over inflation.
The dollar had its worst week in eight months.
An index tracking the currency against a basket of six peers has fallen 2.2 percent over the past five sessions.
India's merchandise trade deficit narrowed to $20.13 billion in June, compared to $22.1 billion in May.
The Ministry of Finance has wef July 15 raised the windfall tax on domestically produced crude oil to Rs 1,600 per tonne from nil.
China said Monday that second-quarter gross domestic product grew by 6.3% from a year ago, missing expectations.
Stocks in Asia dropped.
Benchmark indices the Sensex and the Nifty settled at their fresh record closing highs on Jul 14. Nifty closed 0.78% higher at 19,564.5. For the short-term, support for the Nifty has shifted to 19,500 while resistance for the Nifty has shifted to 19,800. Broader markets continue to do well during the results season.
Indian markets could open flat to mildly higher, in line with largely higher Asian markets today and despite lower US markets on July 14.
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Nifty continued to show range-bound action as of now and is expected to continue for the day. Intraday support is at 19,400.
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U.S. stock indexes ended higher and recorded their fourth straight day of gains on Thursday, with the S&P 500 clearing the 4,500 mark for the first time since April 2022, led by technology stocks, after data showed June producer-price inflation fell further, bolstering the chances that the Federal Reserve is near the end of its campaign of interest-rate hikes.
The ICE U.S. Dollar Index a gauge of the currency’s value against its main rivals, also declined, slumping to its lowest level in more than a year Thursday, adding another tailwind to the stock-market rally.
Oil prices settled Thursday at their highest levels since late April, supported by output cuts by major producers, a weaker U.S. dollar, and expectations for record global oil demand this year.
Amazon.com Inc. hit a 10-month high after reporting record sales during its Prime Day sale.
China's exports fell last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Asian stocks look poised on Friday for their best weekly gains since January amid a rebound in Chinese shares and bets that the Federal Reserve is approaching an interest-rate peak.
Nifty closed on July 13 at 19,414 with only 29 points gain. Nifty continued to be in the range of 19,300-19,500 and the same needs to be taken out on a closing basis to get the trend confirmation in that direction.
Indian markets could open flat to mildly higher, in line with higher Asian markets today and positive US markets on July 13.
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After slipping into weakness on Wednesday, Nifty shifted into an upside bounce so far today. Intraday support is at 19,450 levels.
Catch the mid-market details with Nagraj Shetti
U.S. stocks rose on Wednesday with the S&P 500 and Nasdaq Composite closing at their highest levels in 15 months, after data showed the rate of inflation in June slowed to the lowest level since early 2021, fueling hopes that the Federal Reserve may be closed to being done with its interest-rate hikes. India's headline retail inflation rate snapped its four-month falling streak and rose to 4.81 percent in June (vs 4.6% expected) from 4.31 percent in May, pushed up by a rise in vegetable prices and fading away of the favorable base effect. In the IT space, TCS reported resilient Q1 earnings with a solid order book, surpassing estimates slightly, while HCL Tech struggles and misses expectations reflecting that it faces challenges in the IT sector as clients cut spending. Nifty broke the two-day winning streak on July 12 to end the day with a loss of 55 points or 0.28% at 19,384. The band of 19,300-19,523 is important to be tracked for the coming days. Any move above 19,523 could lead to a resumption of an uptrend, while a move below 19,300 could lead to a correction.
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After showing an upmove with volatility on Tuesday, Nifty slipped into minor weakness so far today. Intraday support is at 19,350 levels.
Catch the mid-market details with Nagraj Shetti
U.S. stocks closed higher on Tuesday, hoping for a solid start to second-quarter corporate earnings later this week. Treasury yields eased further after rates pulled back on Monday from recent highs. The 10-year Treasury yield fell 2.6 basis points to 3.980% on Tuesday.
The June US consumer-price index report to be released on Wednesday is expected to show headline annual inflation falling to 3.1%, having hit a multi-decade peak of 9.1% a year before. However, annual core inflation, which strips out volatile items like energy and food prices, is expected to be more elevated at 5%.
Traders are pricing in an over 90% chance that the Fed will raise its benchmark interest rate in July, and an over 30% likelihood that the central bank will raise it by one more time by year-end.
In India, the CPI number for June is due today. Retail inflation is expected to see an uptick in June amidst a rise in the prices of food items.
Consumer inflation cooled to 4.5% in May, falling to the lowest in 25 months. For June, it is expected to see a modest rise after four months of a fall. CPI inflation is forecasted to rise 4.49% year-on-year and by 0.75% month-on-month in June.
Figures on Tuesday from China showed surprisingly strong bank lending in June, helped by central bank efforts to support an economy that has struggled to rebound from pandemic restrictions as expected.
Asian stocks saw varied performance ahead of a US inflation report that will help shape the outlook for interest rates in the USA world’s biggest economy.
Nifty ended July 11 with 84 points gain at 19,439. Range of 19,300-19,523 needs to be tracked as a support and resistance for Nifty. Any move above 19,523 would resume an uptrend, while a move below 19,300 could lead to a correction.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on July 11.
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After showing choppy movement in the last few sessions Nifty witnessed a sustainable up move so far today. Intraday support is placed at 19,400.
Catch the mid-market details with Nagraj Shetti.
U.S. stocks finished higher on Monday, scoring their first gains of the past four trading sessions, ahead of crucial inflation data for June and the start of the second-quarter earnings season this week. By the end of trading, equities scored gains on optimism that the next major U.S. inflation report could include signs of easing price gains.
The June consumer-price index report is due on Wednesday and is likely to influence the Federal Reserve’s thinking on how many more increases are needed to its benchmark interest-rate target.
Several Fed officials said on Monday that additional interest rate hikes are needed to bring down inflation that is still too high, but the end to the U.S. central bank's current monetary policy tightening cycle is getting close.
Shares of Apple, Microsoft, and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark's "overconcentration."
The Union government has collected Rs 4.75 lakh crore in direct taxes in the first quarter of 2023-24. As on July 9, the direct tax collected was 15.87 percent higher compared to the same period last financial year. This collection is 26.05 percent of the total budget estimates of direct taxes for FY 2023-24.
Lead Apple supplier and global manufacturing powerhouse Foxconn has pulled out of a $19.5 billion joint venture project with Indian conglomerate Vedanta that would have brought semiconductor and display manufacturing to the Indian state of Gujarat.
Asian equities rose following gains on Wall Street and after China stepped up support for its struggling property market. Two Chinese regulators stepped up pressure on financial institutions to ease terms for property companies by encouraging negotiations to extend outstanding loans.
Nifty ended July 10 with a gain of 24 points to close at 19,356. Nifty seems to be stuck in the trading range of 19,300-19,500. Breakout from this range on either side would decide the near-term direction for the market.
Indian markets could open flat to mildly higher, in line with higher Asian markets today and positive US markets on July 10.
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After showing sharp weakness from the new highs on Friday, Nifty shifted into an upside bounce so far today. Immediate support is at 19,300 levels.
Catch the mid-market details with Nagraj Shetti.
U.S. stocks finished lower on Friday, giving up earlier gains after a report from the Labor Department showed a slowdown in job creation, robust wage growth, and a low unemployment rate in June. All three major equity indexes booked weekly losses. For the week, the Dow dropped 2%, the S&P 500 fell 1.2% and the Nasdaq declined 0.9%.
The yield on the 2-year Treasury note dropped back below 5%, falling 7.3 basis points on Friday to 4.931%, Federal funds futures on Friday afternoon indicated a 92.4% chance of the Fed hiking its benchmark rate by a quarter percentage point in July to a targeted range of 5.25% to 5.5%, according to CME FedWatch Tool, at last check.
China’s producer prices sank more than expected, falling at the fastest pace in over seven-and-a-half years, underscoring the challenges that beset the world’s second-largest economy in revitalizing growth momentum. Producer prices sank 5.4% in June from a year earlier. This was weaker than expected a 5.0% decline, compared with the 4.6% decline in May.
Asian share markets edged cautiously higher on Monday as investors looked ahead to a key reading on U.S. inflation and the start of another corporate earnings season.
Nifty broke the 8-session winning streak on July 07 by falling 0.85% to close at 19,331.80. Going forward 19,500 has become strong resistance for Nifty and unless that is taken out, traders should remain cautious. Support for the Nifty is seen in the 18,900-19,000 band.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite negative US markets on July 07.
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After showing a sustainable upside on Thursday, the Nifty slipped into weakness so far today. Intraday support is at 19,350 levels.
Catch the mid-market details with Nagraj Shetti.
U.S. stocks ended off session lows but suffered broad losses on Thursday after data showed the private sector created nearly half a million new jobs in June, sending Treasury yields higher as investors recalibrated interest-rate expectations.
Monthly ADP private payrolls data added more fuel to investors’ concerns about the Federal Reserve’s plans for interest rates after showing the U.S. economy created 497,000 new jobs in June, nearly double the number created in May and far surpassing economists’ forecast for 220,000.
It sent the yield on the 10-year Treasury note surging to its highest level since early March as investors bet that the report would encourage the Fed to be even more aggressive in raising its policy interest rate. Shares fell across Asia.
Nifty rose for the eight sessions on the trot on July 06 with a gain of 0.51% to close at 19,497. Nifty’s nearest moving average support is seen at 5 days EMA, placed at 19,329 and that should be the stop loss for long positions.
Indian markets could open flat to mildly lower, in line with lower Asian markets today and negative US markets on July 06.
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After showing consolidation in the last couple of sessions, Nifty shifted into an upside bounce so far today. Intraday support is at 19,380.
Catch the mid-market details with Nagraj Shetti.
U.S. stocks ended lower on Wednesday with the S&P 500 snapping a three-day winning streak after the minutes of the Federal Reserve’s last policy meeting showed almost all participants expected additional interest-rate increases after unanimously deciding to leave rates unchanged in June.
Earlier, concerns about a faltering Chinese economy dampened risk appetite for global equities.
Traders were pricing in a 88.7% chance that the Fed will raise its key interest rate by another 25 basis points in its July meeting, according to CME FedWatch Tool. The yield on policy-sensitive two-year Treasuries inched up to 4.94%, while the 10-year rose to 3.93%.
Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers.
JSW Steel will replace mortgage major Housing Development Finance Corporation (HDFC) in S&P BSE Sensex index from July 13.
Asian shares followed Wall Street lower on Thursday.
Nifty rose for the seventh consecutive session on July 05 to close with a gain of 9 points or 0.14% at 19,415. Nifty has got support at 19,300, below which weakness could emerge. The level of 19,450 could continue to offer resistance in the short term for the Nifty.
Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and negative US markets on July 05.
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Nifty is trading in a range. Further directional cues are likely to emerge on a move beyond the 19,344-19,422 trading range.
Catch the mid-market details with Subhash Gangadharan.
Global stock markets were mostly higher on Tuesday after Australia’s central bank kept its key lending rate unchanged.
U.S. markets were closed on Tuesday for the Independence Day holiday. Oil prices rose after Saudi Arabia and Russia said they are extending cuts to the amount of oil they pump to try to prop up prices.
Meanwhile, strategists are increasingly warning about the risks to US stocks after a steep first-half rally.
LTIMindtree, a subsidiary of engineering giant Larsen & Toubro, will replace mortgage major Housing Development Finance Corporation (HDFC) from the Nifty 50 index from July 13.
China’s service sector grew less than expected in June El Niño has arrived.
The U.N. weather agency on Tuesday declared the onset of the major climate phenomenon, warning its return paves the way for a likely spike in global temperatures and extreme weather conditions.
Asia-Pacific markets largely fell as investors digest the release of private surveys on services activity from the region.
Nifty rose for the sixth consecutive session and hit a new fresh life high of 19,434 on July 04. Nifty added 0.34% or 66 points to its upward rally to close at 19,389. Nifty ended the session with a “Hanging Man” candlestick pattern which signals short-term reversal if the low of the candle (19,300) is breached. 19,450 could act as a resistance.
Indian markets could open flat, despite largely lower Asian markets today. US markets were shut on July 04.
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Nifty continued its upside momentum for the sixth consecutive session on Tuesday. Intraday resistance is placed at 19,450 levels.
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U.S. stocks eked out minor gains on Monday, with the S&P 500 posting its highest close in more than 14 months in a holiday-shortened trading session as investors assessed whether a strong first-half rally dominated by mega-cap tech shares can broaden out.
The Institute for Supply Management’s manufacturing index fell to 46% in June (vs 47.3% forecast) from 46.9% in the prior month for its lowest reading since May 2020. Global factory activity slumped in June, business surveys showed on Monday, as sluggish demand in China and Europe clouded the outlook for exporters.
The board of IDFC First Bank Ltd. approved a proposal to merge IDFC Ltd. and IDFC Financial Holding Co. with the bank. The share swap ratio for the merger includes the issuance of 155 IDFC First Bank shares for every 100 shares of IDFC held.
Asian stocks were under pressure Tuesday.
Nifty rose on July 03 for the fifth consecutive session to hit a fresh life high of 19345. Nifty added another 0.73% to its tally to close at 19,322 up 133 points or 0.7% higher. 19,350-19,400 band could provide resistance to the Nifty in the near term while 19,076 could offer support.
Indian markets could open flat, in line with mixed Asian markets today and muted US markets on Monday.
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Nifty continued with upside momentum for the fourth consecutive session on Monday. Intraday support is at 19,250 levels.
Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished higher on Friday, with the Nasdaq Composite closing out June with its strongest first half of a year since 1983, as investors hoped the Federal Reserve might be able to back off its inflation battle more quickly than Fed chief Jerome Powell has telegraphed. For the week, the Dow gained 2%, the S&P 500 advanced 2.3% and the Nasdaq increased 2.2%,
On Friday, data showed U.S. inflation measured by the personal-consumption-expenditures price index eased to 3.8% in May on a 12-month basis, the slowest increase since April 2021.
Asian shares rose Monday as positive momentum from gains on Wall Street and signs of moderating US inflation extended this year’s rally in global stocks.
Nifty rose for the fourth straight session to end the day with the gains of 217 points to close at new all-time high of 19,189. For the week, Nifty was up by 2.8%. Previous resistance of 18,887 is expected to interchange its role as a support for the Nifty going forward. On upmoves, Nifty could face resistance at 19,350.
Indian markets could open higher, in line with positive Asian markets today and higher US markets on Friday.
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Nifty continued to remain strong and extended the gain towards 19,120 till now. BankNifty has also registered a new all-time high of 44675 and currently hovering near highs. Intraday supports for the Nifty are seen at 19,075 and 19,000. Resistances for Nifty are seen at 19,185. The trend of the Market is expected to remain bullish for the rest of the session and every intraday dip should be utilized to go long.
Catch the mid-market details with Vinay Rajani.
U.S. stocks witnessed two choppy sessions on Wednesday & Thursday after Federal Reserve Chairman Jerome Powell reiterated at the European Central Bank’s annual forum in Portugal that the American central bank is likely to raise interest rates two more times this year.
Investors also focused on the potential for the Biden administration to consider new restrictions on exports of artificial intelligence-related products to China, which hit technology stocks.
The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. Gross domestic product increased at a 2% annualized pace for the January-through-March period, up from the previous estimate of 1.3% and ahead of the 1.4% Dow Jones consensus forecast.
The official gauge of China's manufacturing activity improved in June but indicated a contraction for the third-straight month, suggesting continued weakness in the world's second-largest economy.
Core inflation in Japan's capital perked up in June and remained above the central bank's 2% target for the 13th month (@3.2%), a sign price hikes were spreading to broader sectors of the economy and keeping policymakers pressured to dial back ultra-easy policy.
Asian markets were mixed on the last day of the quarter following a choppy session for U.S. equities as treasury yields soared on bets on further tightening by the Federal Reserve.
Nifty advanced for the second consecutive day to scale fresh life highs on June 28. At close, Nifty was up 0.82% or 154.7 points at 18,972.1. Nifty made a new lifetime high on June 28. The current upward momentum could continue and the 19,000-19,200 band could be the next resistance for Nifty in the near term. 18,646 could be the support for corrections. Indian markets could open higher, aided by the overall rise in the global markets over the past two sessions.
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Nifty opened at a new all-time high today. Post opening, Nifty extended the gain and reached the level of 18,982. Post opening, Intraday supports for the Nifty are seen at 18,901 and 18,860. The trend of the Market is expected to remain bullish for the rest of the session.
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U.S. stocks ended higher on Tuesday, led by mega tech stocks.
Stocks rose on Tuesday after a run of mostly positive economic data, including readings on durable-goods orders, home sales, and consumer confidence.
Tech-related megacaps - particularly those involved in a nascent AI frenzy - boosted the Nasdaq 1.8%, its largest one-day percentage jump in a month.
Also helping risk appetite on Tuesday were comments from China’s premier Li Qiang, who said the world’s second-largest economy remains on track to achieve its annual growth target of around 5% and that Beijing would roll out policies to expand domestic demand and open markets.
Meanwhile, China took forceful action against a sliding currency for the first time in nearly eight months, with the country's state banks acting to put a floor under the yuan even as officials pledged more stimulus for the flagging economy.
Asian stocks were mixed Wednesday after a rally on Wall Street that was fueled by strength in US consumer confidence and home sales.
On 27th June, Nifty bounced back sharply and closed on a strong wicket rising 0.68% at 18,817. Indian markets are witnessing a broad-based rally. Percentage of Stocks above 200 DMA reached above 75% in the current rally which was higher than the reading of 68% in Dec 2022, when all time of 18,887 was registered, suggesting strong breadth in the current rally which started from April 2023. Nifty could now face resistance at 18,888 and later 19,000.
Indian markets could open mildly higher, in line with mixed Asian markets today and higher US markets on Tuesday.
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Intraday supports for the Nifty are seen at 18714 and 18686. Resistances for Nifty are seen at 18762 and 18801. Nifty smallcap index is trading in green for second consecutive session. Trend of the Market is expected to be bullish for today.
Catch the mid-market details with Vinay Rajani.
U.S. stocks finished lower on Monday, sending Dow industrials down for a sixth straight session, as investors assessed the ramifications of a volatile weekend in Russia and jitters around the economic outlook.
Worries about the global economy continued after a sharp drop in the German Ifo business-climate index for June. The closely watched gauge declined to 88.5 in June from 91.5 in May.
Meanwhile, a positive sign emerged in the US-China relationship from a report that US Treasury Secretary Janet Yellen plans to visit Beijing in early July for the first high-level economic talks with her new Chinese counterpart
S&P Global cut its forecast for China's economic growth this year, underscoring the uneven nature of the country's recovery from the pandemic which is spurring calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%.
Asian shares were mixed Tuesday after US stocks slid amid concern that the Federal Reserve and its peers around the world will push economies into recession.
Nifty remained in a 76 point range on June 26 and repeatedly rose and fell before closing mildly in the positive. At close, Nifty was up 0.14% or 25.7 points at 18691.2. Nifty did not follow through on the downside post the bearish formation on weekly charts. It could now show a small bounce. 18646 could provide support while the 18756-18771 band could provide resistance in the near term.
Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite lower US markets on Monday
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Post opening, Nifty has gone nowhere and remained in the narrow range. Intraday supports for the Nifty are seen at 18647 and 18555. Resistance for Nifty is seen at 18748. Most of the Asian markets are trading in red today. Trend of the Market is expected to remain rangebound with negative bias.
Catch the mid-market details with Vinay Rajani.
U.S. stocks ended lower on Friday, with the three major indexes posting their worst week since the collapse of Silicon Valley Bank in March, suggesting a three-month rally may be coming to an end. For the week, the S&P 500 index was down 1.4%, snapping a five-week winning streak and booking its largest weekly decline since March 10, 2023. The Dow industrials logged a weekly drop of 1.7%, while the Nasdaq fell 1.4%, snapping an eight-week winning streak. U.S. stocks finished lower on Friday, snapping the longest stretch of weekly gains since March 2019 for the Nasdaq Composite.
Meanwhile, investors sought safety in bonds and the U.S. dollar as a wave of interest-rate hikes and hawkish commentary from international central bankers revived worries about global economic growth.
Concerns that interest-rate rises by central banks might harm global economic growth were weighing on global equities on Friday, following rate hikes in the U.K., Switzerland, Norway, and Turkey on Thursday.
The S&P Global U.S. services index fell to 54.1 in June from 54.9 in the prior month, a two-month low, while the manufacturing index slid to a five-month low of 46.3, from 48.4 in May.
Bitcoin Friday hit its highest level in a year after three financial services giants, BlackRock, Invesco, and WisdomTree, filed applications for spot bitcoin exchange-traded funds.
Euro zone government bond yields fell on news that German business activity, as measured by purchasing managers indexes (PMI) slowed notably in June, while French business activity contracted this month for the first time in five months.
Investors will start the week nervously sorting through the aftermath of a short-lived rebellion by the mercenary Wagner Group that’s seen leaving Russian President Vladimir Putin weakened. While a weakened Russia raises the prospects of a favorable outcome for Ukraine 16 months after Putin decides to invade, the potential for further internal strife in the nation with the world’s largest nuclear arsenal is less comforting. Even though it seems the leadership challenge in Russia has been de-escalated, investors may remain nervous about subsequent instability and could remain cautious.
Global markets were a picture of relative calm Monday in the wake of a geopolitical shock that challenged Vladimir Putin’s rule in Russia. Asia-Pacific markets started the final week of June mixed.
Nifty fell for the second consecutive session on June 23 pulled lower by negative global cues. At close, Nifty was down 0.56% or 105.8 points at 18665.5. Nifty formed a bearish Dark Cloud Cover pattern on weekly charts after falling 0.85% over the week. Nifty could find support in the 18459-18555 band while 18795 could offer resistance on up moves in the near term.
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Friday.
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Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
In the early morning session, Nifty extended the fall and tested a level of 18,647 on the spot. In the Intraday session, Nifty violated crucial support of the previous swing low of 18,660. Intraday resistance for nifty is seen at 18,805. Supports for the Nifty are seen in 18,680 and 18,647. We see weakness building in small and midcap segments and it is advisable to remain cautious in that segment. The trend of the Market is expected to be choppy today.
Catch the mid-market details with Vinay Rajani.
U.S. stocks shook off early weakness to end mostly higher on Thursday as investors digested fresh commentary from Federal Reserve Chairman Jerome Powell and a raft of interest-rate hikes from global central banks.
Tech-related stocks, which paced the pullback after leading the rally, were back on the upswing in Thursday’s session. Consumer-discretionary, tech, and communications services sectors led gains for the S&P 500.
Earlier Thursday the Bank of England lifted its key rate by 50 basis points, or half a percentage point, a larger-than-expected move - its 13th consecutive increase. The BOE move followed a half-point hike earlier Thursday from Norway’s central bank, which warned that a further hike may be needed in the near term. The Swiss National Bank also hiked interest rates on Thursday.
Oil prices fell sharply as the BoE's bigger-than-expected hike prompted worries about the economy and fuel demand.
Asian stocks turned lower on Friday amid elevated bond yields following a spate of central bank rate hikes.
Nifty oscillated between gains and losses on June 22 to end lower after Sensex hit fresh record highs. At close, Nifty was down 0.45% or 85 points at 18,771.3. 18,888-18,660 is the band for the Nifty, a breach of which on either side will determine its near term direction.
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Today Nifty missed hitting a new all-time high just by a whisker. Nifty Today’s high of 18,886 is just 1 point lesser than the all-time high registered in Dec 2022. The Nifty small cap index has started losing momentum today and currently trading in the red. The trend of the Market is expected to remain bearish today, especially for small and midcaps. Long traders should lighten commitments in a small and midcap segment as we expect market breadth to weaken from here.
Catch the mid-market details with Vinay Rajani.
U.S. stocks finished lower on Wednesday for a third straight day after Federal Reserve Chairman Jerome Powell warned that policymakers still expect more interest-rate increases this year to combat inflation, doubling down on his hawkish tone. The Nasdaq 100 has slumped more than 2% over the past three sessions.
Asian stocks face downward pressure on Thursday after U.S. equities extended declines. Markets in Hong Kong and mainland China, as well as Taiwan, are closed for a holiday Thursday.
Indian markets continued their upward journey on June 21. Nifty managed to close with gains of 40 points at 18,857. The S&P BSE Sensex managed to hit a record high of 63588 in morning trade.
Above 18,887, Nifty could extend its rally towards the 19,000 level. Support for the Nifty is seen at 18,660.
Indian markets could open lower, in line with mostly lower Asian markets today and lower US markets on Wednesday.
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Nifty opened slightly up by 34 points at 18,849. Post opening, Nifty attempted to surpass the all-time high of 18,887 but failed to do the same. Today is the eighth straight session when Smallcap Index is holding in green. Above the all-time high of 18,887, Nifty could extend its rally towards 19,000 levels. Intraday Support for the Nifty is seen at 18,772 followed by 18,705. The trend of the Market is expected to remain bullish today.
Catch the mid-market details with Vinay Rajani.
U.S. stocks closed lower on Tuesday, trimming last week’s gains which took indexes to the highest levels in more than a year, as investors await testimony from Federal Reserve chair Jerome Powell to Congress this week as data suggests the economy remains healthy.
Energy shares in the US suffered the largest percentage drop, falling 2.3% in the sector's biggest daily drop in over a month, as signs of weakening Chinese demand sent crude prices sliding.
U.S. economic data included housing starts data, which showed a 21.7% surge in May after a revised 2.9% drop in April. Building permits also climbed 5.2% in May. The numbers — led by a surge in the Midwest — reflect strong demand and short supply in the existing home sales market. New US home construction surges by most in 3 decades in May.
Asian markets were mixed on Wednesday pulled down by Chinese stocks.
Nifty showed a smart recovery on June 20 from morning weakness to end in positive. At close, Nifty was up 0.33% or 61.25 points at 18,816.7. Nifty needs to break out of the 18,669-18,888 band to show acceleration in that direction.
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Tuesday.
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Today is the seventh straight session when Smallcap Index is holding in green. BankNifty continued to underperform Nifty with a 0.5% loss in today's session. BankNifty is sustaining below its 20 days EMA, while Nifty is placed at a distance from its 20 days EMA placed at 18,590. Intraday supports for Nifty are seen at 18,660 and 18,590. Resistance for the Nifty is seen at 18,785. The trend of the Market is expected to remain bearish today.
Catch the mid-market details with Vinay Rajani.
Global shares fell on Monday from 14-month highs hit last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets. In Europe, the Stoxx 600 share index lost 0.7%.US markets were shut on Monday due to the Juneteenth holiday.
China's benchmark lending rates were lowered Monday as expected, in a bid to support the nation's slowing economic recovery. This was the first cut in the benchmark loan rates since August 2022, as Beijing moved to roll out more measures to buoy growth. Both short- and long-term benchmark lending rates were lowered by 10 basis points, as expected by the market. The one-year loan prime rate was cut to 3.55% and the five-year rate was cut to 4.2%.
Goldman Sachs on Sunday cut its forecast for China's GDP growth this year to 5.4% from 6.0%, joining other major banks to slash growth expectations for the world's second-largest economy.
Asian markets were mostly lower on Tuesday as the rally in global equities shows signs of wavering and investors fret over China’s tepid post-pandemic recovery.
Nifty fell on June 19 after a higher opening, missing by 8 points to record a new lifetime high. At close, Nifty was down 0.37% or 70.6 points at 18,755.5. Nifty formed a bearish Dark Cloud Cover pattern on daily charts on June 19. However, in the recent past, such formations have not seen any follow-through. The Nifty gets pushed back as it tries to register a new life high. Nifty could face resistance from 18,888, while 18,669 could offer support in the near term.
Indian markets could open lower, in line with mostly lower Asian markets today.
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After showing a sustainable upside on Friday Nifty slipped into weakness from the swing highs so far today. Immediate support is at 18,700 levels.
Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended down on Friday without derailing the S&P 500 index and Nasdaq Composite from extending their long weekly win streaks. For the week, the Dow rose 1.2%, the S&P 500 gained 2.6% and the Nasdaq advanced 3.2%. Nasdaq saw an eighth straight weekly advance to mark its longest stretch of gains since March 2019.
Meanwhile, consumers’ inflation expectations in the US came down, the University of Michigan survey found. The consumer-sentiment index is up from 59.2 in May.
On Tuesday, the People's Bank of China is likely to cut its one- and five-year loan prime rate (LPR) lending rates by 10 basis points to 3.55% and 4.20%, respectively, its latest attempt to bolster China's creaking economy and steer it away from deflation.
Financial markets in the U.S. will be closed on Monday in observance of Juneteenth National Independence Day, or Juneteenth, a federal holiday honoring the 158th anniversary of the last enslaved Black Americans learning that they were free.
The Union government in India has collected Rs 3.8 lakh crore in the form of direct taxes in the first two-and-a-half months of 2023-24. As per the ministry, as on June 17, the direct tax collected was 11.2 percent higher compared to the same period last financial year.
Asian shares were mildly down on Monday after their best weekly run in five months, as investors looked ahead to China's rate decision (on Tuesday) and U.S. Federal Reserve Chair Jerome Powell's testimonies for clues on the rate path ahead.
Nifty rose smartly on June 16 recording an all-time high on closing. At close, Nifty was up 0.74% or 137.9 points at 18,826.0. Nifty fell just 23 points short of the all-time intraday high but closed 61 points away from it. 18,662 could be the support on down moves.
Indian markets could open flat, in line with mildly lower Asian markets today and lower US markets on Friday.
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After showing weakness from the highs, the Nifty shifted into an upside bounce so far today. Intraday support is at 18,690 levels.
Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished sharply higher on Thursday with the S&P 500 index and Nasdaq Composite scoring their highest closes in 14 months as investors digested a raft of U.S. economic data while shrugging off a hawkish Federal Reserve and another interest-rate hike from the European Central Bank. The relentless advance brought the S&P 500 and the Nasdaq Composite to settle at their highest since April 2022.
The European Central Bank lifted its key interest rate by a quarter of a percentage point. The euro hit a 15-year peak against the Japanese yen and a five-week high against the dollar after the ECB lifted interest rates to a two-decade high of 3.5% and eyed more hikes ahead.
Retail sales, which offer some insights into the health of American consumers, came in stronger than expected in May, rising 0.3%, besting expectations for a drop of 0.2%.
India's trade deficit widened in May.
China’s National Statistics Bureau warned Thursday of “mounting pressure on the world’s second-largest economy.
Asian equities headed for a third weekly gain ahead of Bank of Japan’s rate decision and helped along by expectations of more stimulus from China.
Nifty swung between gains and losses and snapped three sessions of advance to end lower on June 15. Nifty finally closed 0.36% or 67.8 points lower at 18,688. Nifty formed a bearish Engulfing pattern on June 15. This could be the first sign of caution after a long upmove. 18,555 could be the next support while the 18,778-18,794 band could offer resistance.
Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite higher US markets on Thursday.
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After showing an up move in the last three sessions, Nifty slipped into minor weakness so far today. Immediate support is at 18,650 levels.
Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished mixed in volatile trade on Wednesday after recovering initial losses seen when the Federal Reserve held its benchmark interest rate unchanged but signaled the monetary tightening cycle is not over and more rate hikes are still on the table this year.
The Fed’s “dot-plot” forecast showed the central bank may lift rates by another 50 basis points to a range of 5.5%-5.75%, according to the Summary of Economic Projections. Powell also noted that a key measure of inflation remains sticky and that prior Fed forecasts for a big decline in price pressures have repeatedly been wrong.
China’s central bank lowered its key medium-term lending rates on Thursday, in a much-anticipated move as the economy’s post-Covid recovery continues to lose momentum.
In Asia, New Zealand fell into a technical recession after its first-quarter gross domestic product fell 0.1% year on year, after reporting a revised 0.7% decline in the final quarter of 2022.
Asian stocks were muted on Thursday after the Federal Reserve paused its monetary tightening and China’s central bank cut a key lending rate to boost China’s economy.
Nifty rose for the third consecutive session on June 14. At close, Nifty was up 0.21% or 39.8 points at 18,755.9. A move below the low of June 14 (18,690) could lead to a faster move on the downside. On the other hand, a move above 18,782 could lead to a new high in the next few sessions.
Indian markets could open flat, in line with muted Asian markets today and mixed US markets on Wednesday.
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Post opening, Nifty has been gradually moving up and is currently trading at 18742 with 27 points gain. The Nifty small cap index continued its upward journey and up by 0.33% in today’s session. Intraday supports for Nifty are seen at 18,692 and 18,655. Resistances for the Nifty are seen at 18,790 and 18,850. The trend of the Market is expected to remain bullish today.
Catch the mid-market details with Vinay Rajani.
U.S. stocks ended higher on Tuesday, with the S&P 500 and the Nasdaq Composite logging their highest finishes since April 2022, after inflation data reinforced expectations the Federal Reserve will refrain from raising interest rates on Wednesday, while China’s central bank eased its monetary policy.
The U.S. consumer-price index rose 0.1% in May, with the year-over-year rate of inflation slowing to 4% from 4.9% in April, the lowest level since March 2021. After the data, fed-funds futures showed traders priced in a better-than-90% expectation policymakers will leave rates unchanged on Wednesday.
It is important to watch Wednesday what Fed officials, including Fed Chairman Jerome Powell, say about recent economic data and the path of the key policy rate by the end of this year.
An index of Asian equities rose for a fourth day amid bets for supportive monetary policy from central banks in China and Japan and a pause in interest rate hikes from the Federal Reserve.
Nifty rose for the second consecutive session on June 13 aided by positive overnight cues. At close, Nifty was up 0.62% or 114.7 points at 18,716.2. Nifty rose smartly and closed almost at the intra-day high on June 13. It could now face resistance from the 18,778-18,813 band in the near term while 18,634 could offer support.
Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Tuesday.
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Post opening, Nifty has been gradually moving up and is currently trading at 18,710 with 110 points gain. By crossing 8th June 2023, the Nifty smallcap index has reached to the highest level of the current rally. Intraday supports for Nifty are seen at 18,672 and 18,636. Resistances for the Nifty are seen at 18,723 and 18,778. The trend of the Market is expected to remain bullish today.
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The S&P 500 and Nasdaq Composite finished at their highest levels in more than a year on Monday, while Dow industrials scored the longest streak of gains since January, as traders awaited this week’s inflation data and central-bank decisions. On this week’s packed calendar are updates on the U.S. consumer- and producer-price indexes, three major central-bank decisions, and the retail sales report for May.
India's industrial output grew by 4.2 percent in April. At 4.2 percent, the latest industrial growth figure as per the Index of Industrial Production (IIP) is significantly higher than that for March.
India's headline retail inflation rate dropped for the fourth month in a row in May, falling to 4.25 percent from 4.70 percent in April. At 4.25 percent, Consumer Price Index (CPI) inflation for May is the lowest in 25 months and is below consensus estimates of 4.4 percent.
In China, to prop up the economy, the central bank cut its seven-day reverse repo rate by 10 basis points to 1.90% from 2.00% on Tuesday, when it injected 2 billion yuan ($279.97 million) through the short-term bond instrument.
Asian equities opened mixed Tuesday with support from a rally on Wall Street amid optimism that the Federal Reserve will pause its most-aggressive tightening campaign in decades.
Nifty broke a two-day losing streak on June 12 and ended mildly in the positive. At close, Nifty was up 0.21% or 38.1 points at 18,601.5. Nifty formed an inside day pattern after a two-day fall, suggesting the possibility of a minor upside reversal. 18,665 could be the next resistance for Nifty in the near term while 18,531 remains a good support.
Indian markets could open mildly higher, despite mixed Asian markets today and in line with higher US markets on Monday.
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Post opening, Nifty has been gradually moving up and is currently trading at 18,620 with 56 points gain. Nifty Small cap Index resumed its uptrend after two sessions break. Trend of the Market is expected to rangebound today with stock-specific bullish action.
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U.S. stocks ended slightly higher on Friday, with the S&P 500 index edging up after technically exiting bear-market territory a day earlier. All three major U.S. stock indexes booked small weekly gains, as investors await the Federal Reserve’s policy decision on interest rates. U.S. shares struck new highs for the year on Friday and helped lift world stocks to a 13-month peak, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash.
For the week, the Dow rose 0.3%, the S&P 500 gained 0.4% and the Nasdaq advanced 0.1%. The technology-heavy Nasdaq eked out a seventh straight week of gains, its longest winning streak since November 2019.
The U.S. government is expected to rush to sell the short-term debt to replenish its Treasury General Account (TGA), potentially at yields so high that banks raise deposit rates to compete for funding, reducing interest in riskier assets like equities.
Fed-funds futures on Friday were pointing to a 71.2% probability that the central bank will announce at the conclusion of its two-day policy meeting on June 14 that it’s pausing its interest-rate increases, according to the CME FedWatch Tool, at last check.
Global equity funds posted outflows for the eighth consecutive week in the seven days leading up to June 7, as concerns over stubbornly high inflation and sluggish economic growth prompted investors to pull back from riskier assets. Investors withdrew a net $18.84 billion from global equity funds, the largest weekly net selling since March 15.
Asian stocks traded mixed in cautious trading early Monday as investors await interest rate decisions this week from the US, Europe, China, and Japan.
Nifty declined for the second day on June 09 after swinging between gains and losses through the day. At close Nifty was down 0.38% or 71.2 points at 18,563.4. Nifty fell for the second consecutive session on June 09. It gained 0.16% over the week after giving up the gains early in the week. A close below 18,508 could result in an acceleration in the downtrend. On up moves, 18,726 could act as a resistance. The outcome of the US Fed meet on Wednesday evening could determine the trend of global markets in the near term.
Indian markets could open higher, in line with mixed Asian markets today and slightly higher US markets on Friday.
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Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Post opening, Nifty did not sustain at higher levels and breached yesterday’s low of 18,615. BankNifty however has managed to protect yesterday’s low of 43,917. Intraday support for Nifty is seen at 18,600 followed by 18,574 and 18,513. Resistance for the Nifty is seen at 18,676, followed by 18,736. The trend of the Market is expected to be rangebound today.
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U.S. stocks closed higher on Thursday, lifting the S&P 500 index out of a long bear market, as investors attempted to shake off worries about the outlook for interest rates ahead of next week’s Federal Reserve policy meeting. The hope is the Fed is going to skip raising rates next week.
The S&P 500 had been in bear-market territory for 248 trading days; the longest bear market since the 484 trading days ending on May 15, 1948.
The CBOE Volatility index, also known as Wall Street's fear gauge, dropped to a fresh post-pandemic record low.
Data on US jobless claims showed claims jumped to a 21-month high of 261,000, an increase of 28,000 from the prior week.
China’s consumer price index rose 0.2% in May compared to a year ago compared to 0.1% in April and 0.3% expected.
Asia-Pacific equities rose to their highest level since mid-February on Friday, taking cues from an overnight Wall Street rally.
Nifty closed lower after a volatile session on June 08, dragged down by weak global cues. At close, Nifty was down 0.49% or 91.9 points at 18,634.6. It could now face resistance from 18,778, while 18,531 could act as a support. In case the Nifty closes below this support on Friday, it could result in Engulfing Bear pattern on weekly charts and the downtrend could gather momentum. Nifty could head to all-time highs (18,887) and beyond if the 18,778 barriers is scaled.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on Thursday.
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The Nifty smallcap index has witnessed a sharp intraday fall from the day’s high and trading near the day’s low. Smallcap index is about to break the 13 sessions winning streak in today’s session. The trend of the Market is expected to remain bearish for today, especially for Midcap and Smallcaps. Short Term Traders should cut trading longs and come on the sidelines.
Catch the mid-market details with Vinay Rajani.
U.S. stocks ended mostly lower on Wednesday, led by a sharp fall in the Nasdaq Composite, as Treasury yields rose, undermining the valuation of technology stocks, after the Bank of Canada unexpectedly raised interest rates which added to apprehension about the Federal Reserve’s interest-rate decision next week. A drop in tech shares drove US stocks lower.
On Tuesday, Australia’s central bank also defied expectations, delivering a second straight quarter-percentage-point interest-rate increase.
Japan’s GDP data was much stronger than estimated, with the economy expanding 2.7% in the first quarter versus projections for 1.9% growth.
India’s central bank is expected to announce its interest rate decision today, with economists expecting the Reserve Bank of India to hold rates at 6.5% for a second consecutive time.
Asia-Pacific markets slid as Wall Street saw a pause in its market rally and the broad market index fluctuated near its highest closing levels since August 2022.
Nifty rose with an upgap on the fourth consecutive session on June 07 helped by positive overnight cues from the US. At close, Nifty was up 0.68% or 127.4 points at 18,726.4. Nifty broke out upwards with an upgap with healthy market-wide breadth. It could now rise towards the 18,781-18,812 band while 18,640 could provide support. The all-time high of Nifty is within sight.
Indian markets could open flat ahead of RBI MPC meet, despite mildly lower Asian markets today and negative US markets on Wednesday.
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Nifty has also broken out from the trading range which was held for the last 7 trading sessions. The breadth of the market is positive with a 5:2 advance decline ratio at NSE. A sustainable level above 18,700 would result into further momentum buying in the Nifty, which could pull the index towards an all-time high. The trend of the Nifty is expected to remain bullish for today’s session.
Catch the mid-market details with Vinay Rajani.
Indian markets could open flat to mildly up, in line with largely positive Asian markets today and higher US markets on Tuesday. Listen to the D-Street Details with Devarsh Vakil.
Nifty has been trading in the narrow range of 18,500-18,700 in the last two weeks. Breakout from this range on either side is expected to give a directional move in the Nifty. Small cap index seems to have paused the rally which was there for the last 10 consecutive weeks. Intraday resistance for Nifty is seen at 18,605. The trend of the Nifty is range bound with a negative bias for today’s session.Catch the mid-market details with Vinay Rajani.
U.S. stocks ended slightly lower on Monday afternoon. Following a stronger-than-expected earnings season and expectations the Fed could pause its aggressive monetary tightening cycle, the S&P 500 is up nearly 20% from its closing low in October.Shares of Apple Inc. ended the day with a loss, pulling back from a record high scored ahead of a WWDC developer event at which the company unveiled a mixed-reality headset.Investors seem to be refocusing on sticky inflation and the extremely tight labor market, prompting a repricing of the market’s rate outlook.The Institute for Supply Management said its US services index fell to a five-month low of 50.3% last month from 51.9% in April. The U.S. economy has slowed markedly from a year ago. Economists polled by The Wall Street Journal had expected the services index to rise to 51.8%.Asian equities were mixed at the open on Tuesday after US stocks pulled back short of entering a bull market. Nifty remained in a 55-point band on June 05 after a gap up opening and closed up. At close, Nifty was up 0.35% or 64.5 points at 18,598.6. Nifty formed a spinning top on June 05. The band of 18,640-18,662 is proving tough to cross. Beyond this, Nifty could face resistance at 18,696 while 18,464 could provide support on falls in the near term. Action remains largely in the broader market rather than the Nifty stocks.Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
Nifty seems to have resumed its primary uptrend after small correction. Intraday support for the Nifty is seen at 18,580, followed by 18,528. Resistance for Nifty is seen at 18,662, followed by 18,720. Nifty Small cap Index is trading in green for 12th consecutive session and has registered fresh 52 week high. Trend of the Nifty is bullish, and traders are advised to utilize dips to accumulate longs.Catch the mid-market details with Vinay Rajani.
U.S. stocks jumped on Friday, with the Dow Jones Industrial Average closing up 701 points after the May jobs report showed the labor market is in surprisingly strong shape despite the Federal Reserve’s aggressive tightening of monetary policy in the past year and as investors cheered the Senate passing the debt-ceiling bill on Thursday night.The Bureau of Labor Statistics report on Friday showed the U.S. economy added 339,000 jobs in May, far surpassing Wall Street expectations for 190,000. The number of jobs created in March and April was also revised higher by roughly 93,000 combined. The employment report pointed to a resilient economy, possibly leading some investors to believe a recession is further away than previously thought.For the week, the Dow climbed 2%, the S&P 500 increased 1.8% and the Nasdaq advanced 2%. The S&P 500 booked a third straight week of gains while the tech-heavy Nasdaq rose for a sixth straight week in its longest winning streak since January 2020.Oil rallied on a supply cut from Saudi Arabia. Crude jumped more than 3% on the pledge to make an extra 1 million barrel-a-day reduction in July, which trims Saudi Arabia’s production to the lowest level for several years.China’s private Caixin Services purchasing managers’ index (PMI) reached 57.1 in May, inching higher to the second-highest rate since November 2020.Asian shares extended a rally in global equities that continues to defy concern over risks to economic growth and elevated interest rates on optimism the Federal Reserve would pause its rate hikes this month after a mixed U.S. jobs report.Nifty ended marginally in the positive after a highly volatile trade on June 02. At close, Nifty was up 0.25% or 46.4 points at 18,534.1. As long as the Nifty stays above 18,315, bulls may have an upper hand. On upmoves, 18,662-18,729 could offer resistance. A lot of near-term concerns for the markets globally are out of the way.Indian markets could open higher, in line with mostly positive Asian markets today and sharply higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Nifty Small cap Index has been outperforming and is currently trading at its 52-week high with an intraday gain of more than 0.7%. Small cap Index has been rising for the last 10 consecutive weeks. India VIX continued to trade on the lower side near 11, which indicates lower volatility in Nifty. Nifty has got strong support at 18,450. On the higher side, 18,600 is expected to act as a resistance.Catch the mid-market details with Vinay Rajani.
The S&P 500 index and Nasdaq Composite closed at their highest levels in more than nine months on Thursday, with Congress making progress on raising the debt ceiling, support coming from U.S. economic data and some Federal Reserve officials who suggested there may be no need to raise interest rates again in June.The S&P Global manufacturing US PMI came in at 48.4 for May, down from 50.2 in April. Additionally, the May ISM manufacturing report showed a slowdown last month, with the gauge coming in at 46.9, down from 47.1. At Rs 1.57 lakh crore, the GST collected in May in India is lower than April’s record Rs 1.87 lakh crore. However, the government has collected monthly GST revenues of more than Rs 1.4 lakh crore for 14 months in a row now. Compared to May 2022, the latest GST collections figure is up 12 percent.Asian stocks surged on Friday as the progress on the bill to raise the U.S. debt ceiling and increasing hopes that the Federal Reserve might stand still on interest rates in its next meeting helped a rise in investor appetite for risky assets.Nifty closed lower for the second consecutive session on June 01 as mixed Asian markets dampened sentiments. At close Nifty was down 0.25% or 46.7 points at 18,487.8. Nifty shows a corrective pattern over the past two days with small declines and a close above the intra-day lows. It could reverse the downtrend from the 18,420-18,432 band and face resistance at 18581 in the near term. Indian markets could open higher, in line with positive Asian markets today and higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty Smallcap Index has been outperforming and is currently trading at its 52-week high with intraday gain of more than 1%. India VIX continued to trade on the lower side below 12, which indicates lower volatility in the Nifty for the Short term. Nifty has got strong support at 18,450, below which weakness could extend towards 18,300. On the higher side 18,600 is expected to act as a resistance.
Catch the mid-market details with Vinay Rajani.
U.S. stocks ended lower on Wednesday ahead of a House vote on the federal debt-ceiling deal Wednesday evening to prevent a potential default, but comments from two Federal Reserve officials suggesting the central bank skip an interest-rate rise at their June meeting helped the indices to finish off session lows.Three major stock indexes finished the month mixed, with the Nasdaq Composite jumping 5.8%, helped by a rally in mega-cap technology stocks. The large-cap S&P 500 index eked out a 0.2% monthly gain while the Dow Jones Industrial Average booked a 3.5% monthly decline, according to FactSet data.Post-market, the U.S. House of Representatives voted 314-117 in favor of a crucial debt-ceiling bill on Wednesday night, keeping Washington on track to meet the Treasury Department’s Monday deadline.The central government has met its fiscal deficit target of 6.4 percent of GDP for 2022-23. At Rs 17.33 lakh crore, the fiscal deficit for 2022-23 amounts to 6.4 percent of the GDP. However, in absolute terms, it is lower than the revised estimate of Rs 17.55 lakh crore by Rs 22,188 crore.The production growth of eight key infrastructure sectors slowed down to a six-month low of 3.5 percent in April 2023 due to a decline in the output of crude oil, natural gas, refinery products, and electricity. The core sector growth was 9.5 percent in April 2022 while in March 2023 the key infra sectors recorded a growth rate of 3.6 percent.India's Gross Domestic Product (GDP) growth rate rose for the first time in three quarters to 6.1 percent in January-March, a step up from 4.5% in the previous quarter. China's factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in AprilStocks were mixed in Asia on Thursday as the House passed the debt ceiling deal to avert default and investors weighed the prospect of a pause in rate hikes from the Federal Reserve this month.Nifty ended lower on May 31, pulled down by weak global cues. At close, Nifty was down 0.53% or 99.5 points at 18,534.4. Nifty ended May with a 2.6% gain driven by FPI flows and encouraging Q4 results. Nifty on Wednesday filled the upgap made on May 29. The fact that the Nifty did not close at the intra-day low was reassuring. Nifty could now remain in the 18,641-18,432 band for the near term. Indian markets could open flat to mildly lower, in line with mixed Asian markets today and lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
With the Nifty in correction mode, traders will need to watch if the index can hold above the crucial support of 18,459. Else, a further correction is likely.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended mixed on Tuesday, as investors weighed news of a debt ceiling deal that needs to quickly pass in Congress, technology stock gains driven by the promise of artificial intelligence software, and the ongoing question of whether more interest rate hikes are coming from the Federal Reserve.Traders are now anticipating another US Fed rate hike in June. Fed funds rate traders are pricing in a 62% chance of another 25-basis point increase, according to the CME Fed Watch tool. Meanwhile, US consumer confidence fell to a six-month low in May, the Conference Board said. The index fell to 102.3, though economists polled by the Wall Street Journal were expecting a read of 99.Japan’s industrial output contracted in April for the first time in three months and retail sales fell for the first time in five months, a potential drag on the nation’s markets. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 6.8% in the year to April, led by automotive fuels, compared with 6.3% in the previous month and market forecasts of 6.4%.China's factory activity contracted faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery.The official manufacturing purchasing managers' index (PMI) was 48.8 from 49.2 in April, according to data from the National Bureau of Statistics (NBS), its lowest in five months. Non-manufacturing activity expanded at a slower pace in May, with the official services PMI falling to 54.5 from 56.4 in April.Coal India Limited (CIL) has increased the prices of its high-grade coal by 8 percent, the company has said in a regulatory filing. This is the first time since 2018 that the country’s largest coal miner has revised its coal prices, which will be applicable for all its subsidiaries as well.Asian stocks fell Wednesday after momentum in US equities faded, and Congress considered the debt accord that’s needed to head off a catastrophic default.India is set to release data on Wednesday that is expected to show the economy grew by 5% in the January-March quarter from a year earlier, accelerating from 4.4% in the previous quarter due to steady urban demand and government spending.Indian markets opened lower but ended higher for the fourth straight session on Tuesday amid muted global sentiments as investors wait for the US debt ceiling deal to go through. Nifty gained 35 points or 0.19% to close at 18,634. This is the highest close since 14-Dec-2022. The previous swing high of 18,458 is now expected to act as a support in the Nifty. On the upside next resistance is seen around 18,900 levels.Indian markets could open mildly lower, in line with negative Asian markets today and mixed US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty is trading in a range. Further directional cues are likely to emerge on a move beyond the 18,575-18,662 trading range.Catch the mid-market details with Subash Gangadharan.
European stock indexes edged lower on Monday, but news that the U.S. had reached a debt ceiling deal over the weekend kept Wall Street futures positive. The deal is expected to provide only short-term relief for markets, as worries linger about inflation and further rate increases. The U.S. markets were closed Monday for Memorial Day.While the debt ceiling deal is likely to calm market jitters, and with a strong earnings season out of the way, investors now turn their attention to the economic outlook and path of interest rates. While the Federal Reserve, European Central Bank, and Bank of England had been widely expected to pause rate hikes and look at when to pivot, recent data has complicated the picture for all three.Asia-Pacific markets are range bound on Tuesday with a vote looming ahead on the tentative U.S. debt ceiling deal reached between President Joe Biden and House Majority Leader Kevin McCarthy over the weekend, avoiding a default for the U.S. economy.Nifty held on to steady gains to end higher on May 29. At close, Nifty was up 0.54% or 99.3 points at 18,598.7. Nifty rose on May 29 with an up gap following the debt ceiling agreement over the weekend. 18,696 is the next resistance for Nifty while 18,508 could be a support.Indian markets could open flat, in line with range-bound Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,641 is taken out. Weakness could emerge if the support of 18,584 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended sharply higher on Friday, with the technology-heavy Nasdaq Composite leading the way up, as hopes rose for a debt-ceiling deal in Congress. The frenzy surrounding artificial intelligence led to another day of gains in the stock market on Friday. The Nasdaq and S&P 500 also closed at their highest levels since August 2022. For the week, the Dow fell 1%, while the S&P 500 edged up 0.3% and the Nasdaq advanced 2.5%. Biden announced Sunday night that he and McCarthy had reached a final agreement on legislation that they will work to get Congress to pass.In a sign of robust domestic demand, the US merchandise-trade deficit widened 17% in April to $96.8 billion, the widest gap since October and above all estimates.Goldman Sachs Group Inc. raised the Indian economic growth forecast by 30 basis points for 2023, citing a boost in net exports. The brokerage expects GDP growth of 4.9% for the first quarter of 2023, compared to a Bloomberg estimate of 5.1%.The U.S. stock market is closed on Monday, May 29 for Memorial Day, as is the bond market.Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months.Asian shares advanced as appetite for risk-taking returned to global markets following the deal between President Joe Biden and House Speaker Kevin McCarthy on the US debt ceiling.Nifty rose sharply on May 26, closing near the intra-day high. At close, Nifty was up 0.97% or 178.2 points at 18,499.4. Nifty gained 1.63% over the week helped by a 0.97% rise on Friday. Upmove on Friday showed strength with wider participation. Nifty could now trade in the 18,660-18,393 band over the near term. The tentative debt ceiling deal in the US removes the near-term uncertainties from the market.Indian markets could open higher, in line with largely higher Asian markets today and sharply higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,450 is taken out. Weakness could emerge if the support of 18,333 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks closed mostly higher on Thursday, with Nvidia Corp. earnings helping lift the Nasdaq to its best day in three weeks. Losses for the Dow continued into a fifth-straight session though as U.S. debt-ceiling talks dragged on in Congress. US stocks rose Thursday as a rally in companies linked to the frenzy in artificial intelligence outweighed broader market concerns including a US debt default.Investors also parsed U.S. weekly jobless claims data, which reached a seasonally adjusted 229,000 last week, according to data released by the Labor Department. GDP data also showed the U.S. grew at a somewhat faster but still tepid 1.3% annual pace in the first quarter, updated figures show, as high inflation and rising interest rates weighed on the economy.Asia-Pacific markets are mixed after Wall Street saw a tech rally led by Nvidia, and U.S. negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default.From an intraday low of 18,202, Nifty rose more than 135 points on May 25 towards 18,338 and closed at the highest point of the day. At close, Nifty was up by 0.20% or 36 points at 18,321. The 18,458-18,500 range remains a strong resistance on the upside while a breach of 18200 would be considered bearish for the near term.Listen to the D-Street Details with Nandish Shah.
With the Nifty correcting further, traders will need to watch if the index can hold above the crucial support of 18,197. Else, a further correction is likely.Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished lower on Wednesday as the minutes from the Federal Reserve’s May meeting showed several policymakers thought more interest-rate hikes may not be needed. US stocks fell on Wednesday as traders weighed the possibility of a US recession from either a US debt default or higher interest rates from the Federal Reserve. Talks between the White House and Republican representatives on raising the U.S. debt ceiling dragged on without a deal.The top Triple-A credit ratings of the U.S. were placed on “rating watch negative” by credit firm Fitch Ratings Wednesday evening, due to “brinkmanship” in Washington, over raising the government’s borrowing limit and the nation’s growing debt burden.Asia-Pacific markets are largely down. The Bank of Korea held its benchmark interest rate steady at 3.5%, in line with expectations.Nifty gave up the morning gains and ended in the negative on May 24 dragged down by weak global cues. At close, Nifty was down 0.34% or 62.6 points at 18,285.4. Nifty snapped a three-day rally and ended down. 18,420-18,432 remains a resistance for the Nifty while 18,201 is the immediate support. Indian markets could open mildly lower, in line with largely negative Asian markets today and lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty is trading in a range. Further directional cues are likely to emerge on a move beyond the 18,269-18,393 trading range.Catch the mid-market details with Subash Gangadharan.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Tuesday.The Dow Jones Industrial Average on Tuesday closed at the lowest level in a week, as worries about the debt ceiling negotiations in Washington outweighed data suggesting economic growth remains resilient.US stocks fell on Tuesday as House Speaker Kevin McCarthy reportedly told Republicans that debt-limit talks still have some distance to go.Stresses have been building in government bond markets, pushing up short-term yields and the price of debt insurance, as traders express concern about the impact on markets should Yellen’s feared scenario come to pass. The S&P Flash U.S. services-sector index hit a 13-month high, up 55.1 in May from 53.6 in April. The S&P U.S. manufacturing sector index, meanwhile, slipped to 51 from 52.4, though it was still higher than Wall Street forecasters predicted.Asian stocks fell for a second day as negotiations over raising the US debt ceiling remained at an impasse.Nifty gave up the early gains in a sell-off post-1400 Hrs on May 23 and ended marginally higher. At close, Nifty was up 0.18% or 33.6 points at 18,348. Nifty formed a high wave candle on May 23 after a rise in the previous session. It could continue to face resistance from the 18,432-18,458 band while the 18,218-18,297 band could offer support.Listen to the D-Street Details with Devarsh Vakil.
The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,420 is taken out. Weakness could emerge if the support of 18,349 is broken.Catch the mid-market details with Subash Gangadharan.
The Nasdaq Composite ended at its highest level in nine months, while the S&P carved out its second-highest level of 2023, on Monday as investors awaited government debt-ceiling talks set to begin after the market’s close.Japan’s manufacturing sector recorded an expansion for the first time in seven months. The manufacturing purchasing managers index came in at 50.8 in May, a reversal from the 49.5 recorded in April, “signalling the first improvement in operating conditions since October 2022.Asian markets were mildly positive but cautious on Tuesday morning.Nifty rose for the second consecutive day on May 22 helped by a rise in Adani companies’ stock prices following the clean chit by the Supreme Court in the Hindenburg issue and stable Asian markets. At close, Nifty was up 0.61% or 111 points at 18,314.4. Nifty validated the near-hammer bullish pattern formed on Friday and built on gains on May 22. Consistent FPI buying has resulted in the extension of up move in the Nifty. 18,218-18,432 could be the band for the Nifty in the near term.Indian markets could open flat, in line with mostly positive but range-bound Asian markets today, and mixed US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up.Further upsides are likely once the immediate resistance of 18,326 is taken out. Weakness could emerge if the support of 18,231 is broken.Catch the mid-market details with Subash Gangadharan.
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U.S. stocks finished lower on Friday, weighed down by worries over the debt-ceiling deadline and concerns that more mergers involving regional banks may be needed. All three major indexes booked weekly gains, and the Nasdaq rose 3% in a fourth straight week of gains for its longest winning streak since the week ending Feb. 3, according to Dow Jones Market Data.US Fed Chair Powell said that uncertainties surrounding the lagging impact of past rate hikes and recent bank credit tightening made it unclear whether more monetary tightening will be necessary.The Reserve Bank of India said that its board on Friday approved to transfer of a surplus of Rs. 87,416 crores to the government for the financial year ended March 31. This is the highest surplus transfer since Rs. 99,122 crore in FY21. China kept its benchmark lending rates unchanged for the ninth straight month on Monday, matching market expectations for May. China's one-year loan prime rate (LPR) was kept at 3.65% and its five-year LPR was unchanged at 4.30%.Asian shares and US stock futures traded in narrow ranges in early trading as uncertainty over US talks to avoid a debt default cast a shadow over markets.Nifty snapped a 3-session losing streak on May 19 aided by positive global cues. At close, Nifty was up 0.41% or 73.5 points at 18,203.4. Nifty formed a bullish near-hammer pattern on daily charts after a fall. Nifty needs to cross 18,459 on the upside for the upward momentum to continue. 18,055 on the downside needs to be protected if the intermediate bullish trend is to be maintained. The last of the Q4 results are expected in the current week. This could impact the individual stock prices, but the overall mood will be decided by the FPI flows and developments on the US debt default situation.Indian markets could open flat, in line with rangebound Asian markets today and despite lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
With the Nifty correcting from the highs, further downsides are likely once the immediate support of 18,060 is broken. Immediate resistance is at 18,186.Catch the mid-market details with Subash Gangadharan.
US stocks ended sharply higher on Thursday in volatile trade as investors grew more confident the White House would reach a deal with Congress to avoid a debt default while digesting a batch of economic data and earnings from major retailers.Walmart Inc. reported fiscal first-quarter results beat expectations and raised its full-year profit outlook. However, the retailer shared guidance that hinted at weakening discretionary spending by American consumers.Data showed fewer-than-expected Americans filed initial jobless claims last week, supporting the likelihood of a “soft landing” but also lowering the odds that the Federal Reserve will cut interest rates before year-end.About $1.7 trillion of derivatives contracts tied to stocks and indexes are scheduled to expire Friday. That usually involves portfolio adjustments that lead to a spike in trading volume and sudden price swings.A gauge of Asian equities was pulled lower by Chinese shares amid weakness in Hong Kong-listed technology stocks. Other markets were however up as House Speaker Kevin McCarthy says that he is confident a deal can be struck on the U.S. debt ceiling by next week.Nifty closed lower for the third consecutive day on May 18, going against the positive global trends after giving up the opening gains. At close, Nifty was down 0.28% or 51.8 points at 18,129.6. Nifty could not hold on to the opening gains despite a favourable backdrop of uppish global markets. As we come closer to the end of the Q4 results season, traders take advantage of the buzz in individual stocks to unload their holdings. 18,055 is crucial support, a breach of which could confirm the formation of the intermediate top at the recent high of 18,459. 18,288 could be a resistance for the Nifty in the near term.Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
With the Nifty correcting from the highs, further downsides are likely once the immediate support of 18,162 is broken. Immediate resistance is at 18,297.Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished sharply higher on Wednesday with the Nasdaq Composite logging its highest close since August 2022, buoyed by optimism about a resolution of the debt-ceiling debate.A bounce in regional bank shares also provided a boost for the major indexes.Asian equities advanced after US stocks rallied on optimism over debt-ceiling talks, allowing investors to refocus on the path for interest rates and the health of the banking system.Nifty fell for the second consecutive session on May 17. At close, Nifty closed 0.57% or 104.75 points lower at 18,181.75. Nifty continued to fall for the second consecutive day and showed a feeble recovery towards the end of the session. 18,055 is crucial support, a breach of which could confirm the formation of the intermediate top at the recent high of 18459. 18,344 could be a resistance for Nifty in the near term.Indian markets could open higher, in line with mostly higher Asian markets today and sharply higher US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has corrected further today after closing below the lows of Monday in yesterday's trading session.Further weakness could be seen if the support of 18,134 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended lower on Tuesday, as investors weighed data on retail sales and a disappointing outlook from retailer Home Depot while tracking another round of debt-ceiling talks between the White House and congressional leaders. The stock market got hit in the final minutes of US trading on concern that Washington lawmakers are struggling to find common ground to hammer out a debt-ceiling deal and prevent a historic default.US April retail sales increased 0.4%, buoyed by car sales and consumer online spending online.Asian markets were trading mixed Wednesday morning. Japan’s benchmark indexes rose at the open after the TOPIX Index closed at the highest level in 33 years on Tuesday.Nifty cracked lower post-1400 Hrs on May 16 to end lower. At close, Nifty was down 0.61% or 112.35 points at 18,286.5. Nifty formed a bearish Engulfing type of pattern on daily charts on May 16. 18,194-18,390 could be the band for the Nifty in the near term.Indian markets could open flat to mildly lower, in line with mixed Asian markets today and lower US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has corrected from the highs. Today Further weakness could be seen if the support of 18,346 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended higher on Monday, with Dow industrials advancing for the first time in six sessions.The New York Fed’s Empire State business-conditions index, a gauge of manufacturing activity in the state, plunged 42.6 points in May to negative 31.8. The windfall tax on crude petroleum has been slashed to nil from Rs. 4,100 per tonne. India’s trade deficit narrowed in April to a 21-month low as softening domestic demand and easing commodity prices led to a lower import bill.China’s economic data for April continued to show an uneven recovery path as the economy continues to emerge from the impact of its stringent Covid restrictions. Industrial production for April rose by 5.6% year-on-year, compared to the 10.9% expected by economists surveyed. Asian equities mostly rose, led by Japanese shares and tech stocks.Nifty rose on May 15, managing to hold on to part of the mid-session gains. At close, Nifty was up 0.46% or 84.05 points at 18,398.85. Nifty made a new 5-month high but gave up part of the intra-day gains on May 15. 18,267-18,490 could be the band for the Nifty in the near term.Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,437 is taken out. Weakness could emerge if the support of 18,287 is broken.Catch the mid-market details with Subash Gangadharan.
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U.S. stocks ended lower on Friday, surrendering early gains after a report from the University of Michigan showed consumer sentiment soured in May, helping to revive recession fears. The Dow Jones Industrial Average and S&P 500 each booked back-to-back weekly losses. For the week, the Dow slid 1.1%, the S&P 500 slipped 0.3% and the Nasdaq edged up 0.4%.The University of Michigan’s index of consumer sentiment dropped to 57.7 in May based on a preliminary reading, from 63.5 in April. That’s the lowest level since November and below an expected May reading of 63 by economists polled by The Wall Street Journal. India's retail inflation cooled to its lowest since October 2021, falling within the central bank's target range for the second straight month, raising the bar for further rate hikes. The Consumer Price Index-based inflation stood at 4.7% in April as compared with 5.66% in March.India’s factory output rose lower than expected in March, as electricity and consumer goods production took a hit. This was the slowest rate of growth for the indicator in five months. The Index of Industrial Production expanded by 1.1% in March, as compared with a revised growth of 5.78% in February. Manufacturing output expanded by 0.5%, compared to 5.6% in the last month. Electricity generation dipped 1.6%, compared to 8.2% in February.In China, the medium-term lending facility remained at 2.75%, in line with consensus forecasts. The decision came against the backdrop of falling inflation, which raised speculation that the central bank may ease monetary policy.Thailand’s currency strengthened against the greenback as the country’s opposition party was on course to secure a win in its general election, ending nearly a decade of conservative rule backed by the military.Asian stocks started cautiously on Monday as investors braced for economic data this week while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year.Nifty closed almost flat for the second consecutive session on Friday suggesting a tug-of-war between bulls and bears. On weekly charts, Nifty gained 1.36% after a flat week. While India's CPI numbers came in better than expected, the IIP numbers disappointed. The Karnataka elections outcome was not favorable to the NDA Govt at the centre. We could see a negative opening for Nifty on Monday. Nifty could remain in the 18,042 – 18,358 band for the near term. Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,304 is taken out. Weakness could emerge if the support of 18,265 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks closed mostly lower on Thursday, with the Dow Jones Industrial Average leading the way down as disappointing earnings from Disney weighed on the blue-chip gauge, while investors grappled with another selloff in shares of regional banks and the threat of a U.S. debt default.Disney shares fell 8.7%, making it the worst-performing stock on the Dow. The company announced it lost 4 million subscribers in the last quarter after hiking prices for its streaming service, Disney+. Shares of PacWest Bancorp fell 22.7% after the company disclosed a 9% decline in deposits in recent weeks. Shares of Alphabet Inc rose, a day after Google rolled out more artificial intelligence products to take on competition from Microsoft Corp.The US producer-price index for April, released before the market open on Thursday showed wholesale prices grew by just 0.2% last month, lower than the 0.3% increase economists polled by The Wall Street Journal had expected. Morgan Stanley Capital International has announced the addition of Max Healthcare, Hindustan Aeronautics, and Sona BLW Precision to its India Standard Index, as part of the May 2023 rejig. On the other hand, Adani Transmission, Adani Total Gas, and Indus Towers have been deleted from the MSCI India Standard Index. MSCI has announced the biggest weight increase in Kotak Mahindra Bank, which could lead to large inflows. Asia-Pacific markets are trading mostly lower Friday after the U.S. posted more data that showed inflation was easing.Nifty ended a volatile day lower on May 11. At close, Nifty was down 0.10% or 18.1 points at 18,297. Nifty made a higher high and higher bottom compared to the previous session but closed lower. Large caps keep reacting to unexciting results while the broader market is doing well. Nifty could stay in the 182,11-18,390 band for the near term.Indian markets could open lower, in line with mostly lower Asian markets today and mostly lower US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
The Nifty remains in an uptrend. Further upsides are likely once the immediate resistance of 18,330 is taken out. Weakness could emerge if the support of 18,304 is broken.Catch the mid-market details with Subash Gangadharan.
US stock indexes ended mostly higher after volatile trading on Wednesday after data showed April U.S. consumer price inflation cooled to the lowest annual rate in two years, though core inflation, excluding food and energy prices, remained high.U.S. consumer price index rose 0.4% in April, up from a 0.1% rise in the prior month, but over the past 12 months, consumer inflation increased 4.9%, down from a 5% year-on-year increase in March. The annual rate is now the lowest since April 2021, while the number is still way above the Fed’s 2% target. Treasury yields tumbled following the report, further supporting a stock market that has been worried about higher rates snuffing out economic growth. Talks on raising the U.S. federal government's $31.4 trillion debt ceiling entered a new phase on Wednesday as some areas of potential compromise emerged after Tuesday's White House meeting.Most exit polls after the Karnataka assembly elections see Congress poised to assume power in the southern state. In the 224-seat Vidhan Soudha, parties or coalitions need 113 seats to register a victory. Five of ten exit polls estimate the party to cross the majority mark in the recently concluded state assembly elections on Wednesday, and one even predicted a clean sweep by the party.Asia-Pacific markets traded mixed after Wall Street saw a tech rally as the U.S. consumer price index rose less than expected for April.Nifty managed to end in the green on May 10 aided by last hour buying. At close, Nifty was up 0.27% or 49.15 points at 18,315.1. Nifty formed a long-legged doji on May 10 but failed to make a new high compared to the previous session. Nifty continues to remain in an uptrend, but its pace has slowed dramatically. The outcome of exit polls for Karnataka state elections was broadly in line with expectations and hence may not impact market sentiments much. A break of the 18,180-18,344 band could determine the direction of the markets in the near term.Indian markets could open flat to mildly higher, in line with mixed Asian markets today and mostly higher US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up.Further upsides are likely once the immediate resistance of 18,323 is taken out. Weakness could emerge if the support of 18,211 is broken.Catch the mid-market details with Subash Gangadharan.
Stocks in the US closed lower on Tuesday, with cautious investors digesting more earnings reports. US inflation data is due today.The U.S. consumer-prices report for April will be published on Wednesday and investors hope to see inflation continuing to ease. That could allow the Federal Reserve to consider reducing interest rates later this year. Fed-fund-futures traders have priced in an 82% chance that the U.S. central bank will pause raising its key interest rate at its June meeting and a large chance that the Fed will deliver at least one rate cut by the end of this year.Asian equities opened slightly lower on Wednesday ahead of a critical US inflation report.Back home, Nifty closed almost flat on May 09 after a volatile session. At close, Nifty was up 0.01% or 1.55 points at 18,265.95. Foreign investors were net buyers for the ninth day in a row and bought equities worth Rs 1,942.19 crore. Nifty formed a spinning top-like formation, which will get confirmed once 18,120 is breached on the downside. 18,345 on the upside could offer resistance.Indian markets could open flat to mildly higher.Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up.Further upsides are likely once the immediate resistance of 18,344 is taken out. Weakness could emerge if the support of 18,276 is broken.Catch the mid-market details with Subash Gangadharan.
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Nifty has corrected today after the sharp rally seen on Thursday. Further weakness could be seen if the support of 18,085 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stock indexes finished lower on Thursday, with the Dow Jones Industrial Average and the S&P 500 posting four straight sessions of losses, on renewed anxiety over regional bank stocks and a slowing economy in the wake of the Federal Reserve's decision to raise interest rates for a tenth time on Wednesday. Meanwhile, the European Central Bank delivered its latest policy decision, hiking rates by 25 basis points to 3.25%, while ECB President Christine hinted at more hikes to come to tame inflation.Gold futures marked their highest settlement since August 2020 on Thursday while flirting with a new record, and silver prices finished the session at their highest in more than a year. China's service activity grew for a fourth straight month in April, a private-sector survey showed on Friday, as businesses continued to benefit from a return toward pre-pandemic levels of demand and output, although expansion slowed slightly. The Caixin/S&P Global services purchasing managers' index (PMI) fell to 56.4 in April from 57.8 the month prior.Asian equities had a mixed start Friday.Nifty rose for the 7th out of the past 8 sessions to close at more than four-month highs on May 04. At close, Nifty was up 0.92% or 165.9 points at 18,255.8. Nifty built on its previous gains well on May 04. It is now headed for an 18,319-18,432 band on the upside while 18,148 could provide support on the downside for the near term.Indian markets could open flat to mildly lower, in line with mixed and range-bound Asian markets today and lower US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
With the Nifty surging higher after the weakness seen yesterday, the uptrend is intact.Further upsides are likely once the immediate resistance of 18,180 is taken out. Weakness could emerge if the support of 18,144 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stock indexes ended lower on Wednesday after the Federal Reserve raised interest rates by another 25 basis points while signaling it could be the last move in the most aggressive monetary tightening cycle in four decades. Stocks finished lower in volatile trade on Wednesday after the Federal Reserve announced its decision to raise its benchmark fed-funds rate for the 10th time in a row to a range of 5% to 5.25%, the latest move in its more-than-a-year-long effort to bring down inflation and cool the economy.After the Fed’s decision and Powell’s news conference, fed funds futures traders priced in an 89% probability that policy makers will make no change at their June meeting. Oil prices were sharply lower Wednesday, pulling U.S. crude benchmark prices below $70 a barrel to their lowest since March.Asia-Pacific markets mostly declined. Nifty snapped a 6-day winning streak on May 03, falling in line with other Asian markets. At close, Nifty was down 0.32% or 57.8 points at 18,089.9. The US Fed meet outcome will now be discounted by the global markets. 18,148 could be the resistance on the up, while a downward breach of 18,042 could lead to more downsides.Indian markets could open lower, in line with mixed Asian markets today and lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
U.S. stocks closed sharply lower on Tuesday, tumbling under the weight of falling shares of regional banks and the energy sector, while weaker data on the jobs market pointed to a slowing economy. Multiple volatilities halts in PacWest Bancorp and Western Alliance Bancorp were seen as disturbing. Both shares were down at least 15%.Investors also awaited the Federal Reserve’s interest rate decision on Wednesday and focused on an early June deadline for raising the U.S. debt ceiling. U.S. Treasury Secretary Janet Yellen said on Monday that the federal government could completely exhaust its capacity to pay its bills as early as June 1.Oil prices extended losses on Wednesday, after slumping about 5% to a five-week low on Tuesday, as investors braced for more rate hikes this week that could dent energy demand.The International Monetary Fund (IMF) raised Asia's economic forecast on Tuesday as China's recovery underpinned growth. Asia's economy is expected to expand by 4.6% this year after a 3.8% increase in 2022.Nifty rose on May 03 aided partly by largely positive Asian cues. At close, Nifty was up 0.46% or 82.7 points at 18,147.7. Nifty rose with an upgap on Tuesday but ended up forming a small body spinning top. Spinning tops are a sign of indecision at higher levels. One must be watchful of the low of the Nifty for the day (18,102) being protected, failing which a correction may ensue. 18,265 could be the next resistance for the Nifty while the 18,065-18,089 band could provide support in the near term.Now all eyes are on US FED’s FOMC, ahead of its decision Wednesday where wise policymakers are expected to raise interest rates and "guide" for future rate path.Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up.Further upsides are likely once the immediate resistance of 18,180 is taken out. Weakness could emerge if the support of 18,101 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks closed lower on Monday, giving up modest early gains, after it was announced that JPMorgan Chase & Co. would purchase much of failed First Republic Bank. In a deal announced on Monday, JPMorgan Chase & Co. agreed to buy the bulk of California’s First Republic Bank after an auction that reportedly included PNC Financial Services Group Inc. — and will split losses with the Federal Deposit Insurance Corp. The FDIC said the deposit insurance fund is likely to take a $13 billion hit.Investors expect the Fed will deliver another 25-basis point interest-rate hike when its two-day policy meeting ends on Wednesday. The CME FedWatch Tool is pointing to a 79% chance of a quarter-point rate increase.The Dow industrials notched its best monthly performance, up 2.5% in April, while the S&P 500 advanced 1.5% and the Nasdaq gained less than 0.1% for the month.The output of India's eight core sectors grew by 3.6 percent in March 2023, the slowest in the last five months,The Indian government has cut the windfall tax on crude oil to Rs. 4,100 per tonne from Rs. 6,400 per tonne, effective May 02, 2023. The government has left the windfall tax on petrol, diesel, and aviation turbine fuel at zero.The Indian government collected a whopping Rs. 1.87 lakh crore as Goods and Services Tax (GST) in April, up 11.6% YoY and up 16.8% MoM. Asia-Pacific markets were largely higher on Tuesday as most markets returned after the long Labor Day weekend.Nifty rose for the fifth consecutive session on April 28 driven by positive global cues. At close, Nifty was up 0.84% or 149.9 points at 18,065. Nifty rose smartly by crossing the 18,000 level aided by the last half-hour sharp buying on Friday. It rose 2.50% over the week, posting the largest percent rise in 9 months. It has now offset the bearish implications of Engulfing pattern formed on weekly charts in the previous week. 18,134-18,201 bands could now offer resistance while 17,842 could offer support. The broader markets seem better placed as of now. Indian markets could open higher, in line with mostly positive Asian markets today and higher US markets on Friday and Monday put together.Listen to the D-Street Details with Devarsh Vakil.
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Nifty continued with a follow-through upmove so far today and is currently trading at the highs. Intraday resistance is at 18,030 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended sharply higher on Thursday, with the Dow Jones Industrial Average and S&P 500 posting their biggest one-day gains since January, after another set of strong big-tech earnings reports helped boost the broader market while offsetting signs of slowing economic growth. Thursday’s gains were the largest since Jan. 6 for the Dow and S&P 500, with both indexes erasing a week-to-date decline.In aggregate, S&P 500 companies have reported earnings 7.9% above expectations (vs a historical number of 4.1%), according to an update from Refinitiv released Wednesday evening. Shares in Asia rallied on Friday after robust technology earnings boosted Wall Street. Investors in Asia will be closely watching as the Bank of Japan concludes its monetary policy meeting today, the first under new BOJ governor.Nifty rose for the fourth straight session on April 27 to reach nine-week highs. At close, Nifty was up 0.57% or 101.5 points at 17,915.31. Nifty managed to breach the resistance of 17,863 and close above it. If it manages to stay above this level, more upsides could be in store for Nifty. 18,034 and 18,135 could be the next resistances for the Nifty while 17,827-17,842 bands could offer support.Indian markets could open higher, in line with mostly positive Asian markets today and sharply higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty continued its upside momentum for the fourth consecutive session so far today. Placed at the hurdle of 17,865 levels. Immediate support is at 17,700 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended mostly lower on Wednesday as robust earnings from big tech companies boosted the Nasdaq Composite, but concerns about First Republic Bank weighed on the broader market after the San Francisco-based lender revealed an exodus of deposits in March in the aftermath of Silicon Valley Bank collapse.A sharp rally in big tech stocks on upbeat quarterly earnings results contributed to an upturn for U.S. stocks on Wednesday morning, but major stock indexes reversed some gains to end mostly lower as investors turned attention to the renewed banking sector stress.China's industrial profits rebounded as Beijing continued its support for the economic recovery. Nifty ended in the positive for the third consecutive session on April 26. At close, Nifty was up 0.25% or 44.4 points at 17,813.6. Nifty formed a high low bar which is almost the same as the previous session, but it closed higher. Recovery from early morning weakness in Nifty was quite sharp and sustained. Volume expansion and wider buying in large caps may be required for the Nifty to rise beyond 17,863. 17,863-17,612 could be the range for the Nifty in the near term.Indian markets could open flat to mildly lower, in line with mixed Asian markets today and mostly lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty shifted into an upside recovery after showing weakness in the early part of the trade. Intraday support is at 17,710 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks closed lower on Tuesday as investors digested a mixed picture of corporate earnings along with data suggesting a slowing economy and a consumer that’s under pressure from inflation. Investors were taking a risk-off approach on Tuesday, one week ahead of the Federal Reserve’s next meeting on interest rates. The Fed is scheduled to meet next Tuesday and Wednesday on its benchmark interest rate.The transportation sector was hit after UPS delivered disappointing earnings results which might drive home more worries about a recession if there’s softening demand to transport goods. US consumer confidence in April fell to a nine-month low, cramped by worries of a lurking recession and a loosening labor market. Stocks fell in Asia following declines in US benchmarks as fears of a banking crisis resurfaced. Nifty ended in the positive for the second consecutive session on April 25 after facing selling pressure on intraday rallies. At close, Nifty was up 0.15% or 25.9 points at 17,769.3. Nifty formed a near doji formation on April 25 suggesting indecision after a day’s upmove. 17,842-17,684 could be the range for the Nifty in the near term. Technology giants Google and Microsoft have announced numbers better than market expectations and that should support Nasdaq when it opens for trade today in the evening.Listen to the D-Street Details with Devarsh Vakil.
After showing a sustainable upmove on Monday, Nifty shifted into a range-bound movement with a positive bias. Intraday support is at 17,715.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks saw little movement amid a cautious tone that had enveloped markets for much of Monday, as investors prepared for a busy period of corporate results and U.S. economic data that could impact the Federal Reserve’s interest-rate decision on May 3.So far, US corporate earnings this quarter have fared better than expectations. 53% of companies in the broader index have beaten consensus estimates. Asia-Pacific markets were largely lower on Tuesday, following a similar session on Wall Street as investors look ahead to Big Tech earnings later this week.Nifty bounced up on April 24 after a flat close in the previous three sessions. At close, Nifty was up 0.68% or 119.4 points at 17,743.4. Nifty rose smartly post-noon on April 24 after breaking out from a minor consolidation. Nifty could now remain in the 17,828-17,663 band for the near term. Indian markets could open flat to mildly higher, despite largely lower Asian markets today and mixed US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
The range-bound movement continued in Nifty on Monday. Nifty is expected to move up in the mid to later part of the session. Intraday support is at 17,600 levels.Catch the mid-market details with Nagaraj Shetti.
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U.S. stocks closed slightly higher on Friday, in a quiet end to the first full week of the quarterly-earnings reporting season, as investors watched for signs of an economic slowdown. For the week, the Dow fell 0.2%, the S&P 500 slipped 0.1% and the Nasdaq shed 0.4%. The Dow snapped a four-week win streak. Recent economic data has been pointing to a deteriorating US economy. The Conference Board’s leading economic index for March, released on Thursday, fell to its lowest level since November 2020, as the number of people collecting unemployment benefits reached the highest level since Nov. 2021.However, data from S&P Global on Friday showed its U.S. service sector purchasing managers index rose to 53.7 in April from 52.6 the previous month, while the manufacturing sector PMI rose to 50.4 from 49.2.Investors continued to pour money into the US Treasury market’s shortest-dated security on Friday amid ongoing worry over the U.S. debt ceiling and the possibility that the government might default on its debts.Stocks in Asia were mixed in early trade, as investors prepare for a busy week of economic data that will help illuminate the path forward for interest rates.Nifty ended exactly flat on April 21 after recovering from morning weakness. At close, Nifty was up 0.40 points at 17,624.05. Nifty fell 1.14% over the week forming a bearish engulfing pattern. 17,842-17,863 band will now be a crucial resistance for the Nifty. 17,428 could be a support in the near term. Indian markets could open mildly higher, despite mixed Asian markets today and in line with higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Weakness continued with range-bound movement on Friday. Immediate support is at 17,580-17,550 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished lower on Thursday, with a disappointing earnings report from Tesla Inc. weighing on technology stocks, while a slump in oil prices dragged down shares in the energy sector. Growing concerns over the U.S. debt-ceiling stalemate in Washington also took center stage on Thursday.Asian equities weakened after technology stocks led Wall Street lower, with risk appetite sapped after data showed a softening in US manufacturing and its labor market.Nifty closed marginally higher on April 20 after a zigzag day when it went into and out of negative territory more than once. At close, Nifty was up 0.03% or 5.7 points at 17,624.5. Nifty made a marginally higher top and bottom compared to the previous session on April 20. For two consecutive days, we have seen a tight high-low range for the Nifty. It could soon expand its high-low range. Nifty could stay in the 17,557-17,729 band for the near term.Listen to the D-Street Details with Devarsh Vakil.
The range-bound movement continued in Nifty, which is currently trading on a flat note. Intraday support is at 17,560.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished a quiet session mostly flat on Wednesday as investors weighed another batch of corporate earnings, including results from Morgan Stanley, U.S. Bancorp, and Phoenix, Arizona-headquartered regional bank Western Alliance, while global government bonds yields rose after the U.K. posted hotter-than-expected inflation. The Dow was weighed down by declines in Walt Disney Co and UnitedHealth Group Inc shares following results from rivals in their respective industries.The chances of the Federal Reserve increasing borrowing costs by 25 basis points in two weeks’ time is priced at 88%. Shares in Asia were muted on Thursday morning after stocks closed little changed on Wall Street and a gauge of volatility slid to the lowest level in more than a year.Nifty fell for the third consecutive session on April 19 pulled down by mixed global cues. At close, Nifty was down 0.23% or 41.4 points at 17,618.8. Nifty fell for the third consecutive session but did not breach the low of the first day of the fall. This keeps open the possibility of the fall in the broader indices coming to an end soon. Nifty could stay in the 17,533-17,729 band for the near term.Indian markets could open flat to mildly higher, in line with muted Asian markets today and flat US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Consolidation movement continued in Nifty so far today. Intraday support is placed at 17,600 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks closed little changed on Tuesday. Concerns around the U.S. debt ceiling also contributed to volatility on Tuesday.The Indian Government has increased the Special Additional Excise Duty (SAED) or windfall tax on crude petroleum from nil to Rs.6,400 per tonne. However, the SAED on diesel will reduce from Rs.0.50 per litre to nil.A gauge of Asian equities traded slightly lower on Wednesday after stocks were little changed on Wall Street as investors weighed earnings and comments from Federal Reserve officials who favor continued rate hikes.Nifty closed lower for the second consecutive session on April 18. At close, Nifty was down 0.26% or 46.7 points at 17,660.2. Nifty continued the downtrend amidst sluggish activity levels. It could now remain in the 17,574-17,759 band for the near term.Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and flat US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
After showing sharp weakness on Monday, Nifty shifted into a follow-through weakness with range-bound movement so far today. Intraday support is at 17,650.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks shook off a mixed opening to finish modestly higher on Monday as the first full week of first-quarter earnings season got underway, with the S&P 500 remaining near the top end of its recent range. Cboe Volatility Index, or VIX, a gauge of expected stock-market volatility, was around 17 — one of its lowest levels since January 2022. China's economy grew at a faster-than-expected clip in the first quarter, expanding 4.5% year-on-year. Asia's share markets were in a cautious mode on Tuesday morning.Nifty ended in the negative on April 17 breaking a 9-day winning streak. Disappointing results and guidance from Infosys on Friday evening led to a selloff in IT stocks. At close, Nifty was down 0.68% or 121.2 points at 17,706.9. Nifty corrected after rising for 9 sessions. The high-low bar for the day engulfs that of the previous two sessions. This could mean the formation of a short-term top and rises for the next few days could get sold into. Nifty could remain in the 17,760-17,452 band for the next few sessions.Indian markets could open mildly lower, in line with mostly lower Asian markets today and despite mildly higher US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
Nifty broke nine sessions of continuous upmove on Monday and slipped into sharp weakness. Intraday resistance is to be watched at 17,740 levels.Catch the mid-market details with Nagaraj Shetti.
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U.S. stocks finished sharply higher on Thursday, led by technology stocks. U.S. stocks ended modestly lower on Friday.Gold hit a 13-month high about $30 shy of a record peak and the dollar weakened session.US Bank results indicated that the turmoil in the US banking sector last month had little immediate effect on the profitability of the biggest companies, which also helped boost shares in European lenders.Infosys revenue in Q4FY23 declined 2.28% to Rs 37,441 crore, as against an estimate of Rs 38,770 crore. lower than the guidance in January.Nifty closed marginally higher for the ninth consecutive session on April 13 after recovering from a morning selloff. At close, Nifty was up 0.09% or 15.60 points at 17,828. In the process, Nifty touched a 7-week high. Nifty made a marginally higher top on April 13 compared to the previous day and managed to close higher. It could make some more attempts to rise in the coming sessions, however profit-taking after such a relentless rise may be expected. Nifty could face resistance in the 17,884-17,925 band while 17,717 could offer support for the near term. The initial draft of Q4 results has been underwhelming and may not support a runaway rise from here.Indian markets could open lower, in line with muted Asian markets today and lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Nifty broke 8 consecutive sessions of upside rally on Thursday and is currently trading lower by 77 points. Intraday support is at 17,680 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes finished lower in choppy trade on Wednesday after minutes from the Federal Reserve’s March policy meeting showed policymakers agreed that the stress in the banking sector would slow U.S. economic growth. Investors also assessed a March consumer price index report which shows inflation slowing, though still elevated. Meanwhile, Fed staff projected that the economy may enter a “mild recession” later this year before recovering over the next two years, according to the minutes.Asian stocks trimmed earlier losses.Nifty held on to steady gains on April 12 to end higher for the eighth straight day in trade. At close, Nifty was up 0.51% or 90.1 points at 17,812.4. While the India CPI and IIP numbers were more or less in line with estimates, TCS’ Q4 Results were a bit underwhelming. US CPI numbers and the release of Fed minutes magnified the possibility of a recession in the US later this year. Nifty could face resistance in the 17,884-17,925 band while 17,694 could offer support for the near term. A small bout of correction is expected in the Nifty.Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Upside momentum with range-bound action continues. Nifty is in an attempt of an upside breakout of crucial hurdle at 17,800 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes closed mostly lower on Tuesday as investors cautiously looked ahead to March inflation data due on Wednesday that could help determine the Federal Reserve’s next interest-rate move. Corporate earnings reporting season also is set to kick off in earnest on Friday.India's headline retail inflation is expected to have dropped to a 15-month low in March thanks to a favourable base. According to a survey of 17 economists, Consumer Price Index (CPI) inflation likely fell sharply to 5.7 percent last month from 6.44 percent in February.India’s industrial output is expected to grow by 5.8 percent, the highest in three months. In January, industrial production had risen by 5.2 percent.TCS will announce its Q4 numbers on April 12.Asian stocks advanced ahead of US inflation data that may signal whether the Federal Reserve will keep raising interest rates.Nifty rose for the seventh consecutive session on April 11 helped by positive global cues. At close Nifty was up 0.56% or 98.3 points at 17,722.3. Nifty overcame the hesitation seen on the previous day and marched ahead. It could now stay in the 17,639-17,800 band in the near term waiting for economic data like India CPI and IIP and US CPI (due April 12) for further triggers. Indian markets could open flat to mildly higher, in line with mixed Asian markets today and mixed US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty continued its upside momentum amidst choppy action. The range-bound movement with positive bias is likely to continue for the day. Intraday support is at 17,600 levels.Catch the mid-market details with Nagaraj Shetti.
The upside momentum continued in the market after the post-outcome of RBI’s mid-quarter policy review meet today. Intraday support is at 17,500 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended mostly lower on Wednesday with the tech-heavy Nasdaq Composite booking a third consecutive loss, as investors weighed data on private-sector employment and the services sector, while awaiting a March jobs report that will be released on Good Friday, a market holiday. Investors ponder whether to be pleased that weaker economic data of late has trimmed bond yields or to be wary of the business downturn those trends foretell.At last glance, financial markets are pricing in a 62% likelihood that the central bank will let its key interest rate stand at its still-restrictive 4.75%-5.00% range at the conclusion of its next policy meeting in May, according to CME's FedWatch tool.India's central bank is widely expected to raise its benchmark rate on Thursday for the seventh consecutive meeting and leave the door open for more increases to bring inflation back within its target range. A large majority of economists, 49 of 62, said the Reserve Bank of India (RBI) would lift its repo rate by 25 basis points to a seven-year high of 6.75% at the conclusion of its three-day meeting on April 6.Asian stocks fell after US equities dropped. Nifty rose for the fourth consecutive session on Apr 05 ahead of the outcome of the RBI MPC meet on April 06. At close, Nifty was up 0.91% or 159 points at 17,557.1. Nifty rose well on April 05 and from its intra-day high, it was just short of 3 points in filling the down gap made on March 10. Once it rises above 17,574, it could open up further rise towards 17,800. On falls 17,428-17,451 band could provide support.Indian markets could open flat to mildly lower, in line with lower Asian markets today and mostly lower US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
After showing a consolidation-type movement on Monday, Nifty continued its upward journey amidst a range movement so far today. The immediate hurdle is at 17,550-17,600 levels and Intraday support is placed at 17,440.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks closed lower on Tuesday, with the Dow and the S&P 500 index snapping a four-day winning streak, as investors weighed new declines in factory orders, data hinting at a softening labor market ahead of Friday’s jobs report, and what that means for recession fears and interest rates.Provisional data released by India’s finance ministry indicated that the government collected Rs.16.61 lakh crore in direct taxes for the fiscal year 2022-23. This amount represents a 17.6 percent increase over the previous year's collection. The Indian Government has cut the windfall tax on crude oil from ₹3,500 per tonne to nil effective from Tuesday and halved the tax on diesel to 0.5 rupees per litre.New Zealand’s central bank raised its benchmark cash rate by 50 basis points to 5.25%, with the New Zealand dollar strengthening by nearly 0.9% following the decision.Asia-Pacific markets were mixed on Wednesday as Wall Street digested a key U.S. labor report that showed job openings dropped to their lowest level in nearly two years in February.Nifty ended marginally higher on the first day of the new fiscal year after a mild range of volatile trade. At close, Nifty was up 0.22% or 38.3 points at 17,398.1. Nifty managed to close in the positive after spending a better part of the day in the negative territory. 17,529-17,574 bands could offer resistance while 17,207 could offer support. Volumes need to improve for markets to build on their recent gains.Indian markets could open mildly higher, in line with mixed Asian markets today and despite lower US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil..
After witnessing a sharp upmove on Friday, Nifty shifted into consolidation with a weak bias so far today. Intraday support is at 17,300 levels.Catch the mid-market details with Nagaraj Shetti.
Nifty broke out upwards on March 31 aided by positive global cues and year end buying. At close, Nifty was up 1.63% or 279.1 points at 17,359.8. Nifty rose smartly on March 31 with an upgap (above the highs of the previous 4 sessions). 17,451-17,529 could be the resistance for Nifty in the near term while 17,225 could be a support. Nifty rose 2.45% over the week – the largest weekly gains in 9 months. As we enter a new fiscal year, we may see some more gains before pre Q4 results nervousness kicks in. Listen to the D-Street Details with Nandish Shah.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Nifty has broken out from the crucial resistance of 17,207 and sustaining above it. Technically, Nifty has formed a higher top and higher bottom on the daily chart. There is an unfiled gap between 17,126 to 17,204 which is expected to act as a support in Nifty. 50 days and 200 days EMA for Nifty are placed at 17,475 and 17,514 respectively. These levels are the next resistance for Nifty. The trend of the market is expected to remain bullish for the day. Intraday dips should be utilized to initiate fresh longs.Catch the mid-market details with Vinay Rajani.
The S&P 500 booked the highest close since March 6, two days before the collapse of Silicon Valley Bank.U.S. stocks finished higher on Thursday, posting back-to-back gains. An improvement in market breadth, as cyclical sectors like industrials, materials, and financials that have suffered in recent weeks helping to push the market higher. China's factory activity expanded at a slower pace in March while activity in the nation's service and construction sectors rebounded more strongly in the wake of the Covid-19 pandemic. Markets in the Asia-Pacific traded higher on Friday as technology stocks continued to see renewed interest and led gains on Wall Street.Nifty rose on March 29 aided by positive global cues on an F&O expiry day. At close, Nifty was up 0.76% or 129 points at 17,080.7. Nifty, as expected, seems to have made a short-term bottom. It has closed at the highest in 5 days. 17,207-17,255 could be the next resistance for Nifty while 16,985 could be a support.Indian markets could open higher, in line with higher Asian markets today and positive US markets on Wednesday and Thursday. Listen to the D-Street Details with Devarsh Vakil.
For the last four consecutive sessions, Nifty has been consolidating in the narrow range. Nifty small cap and mid cap indices are outperforming the benchmark indices today. Trend of the market is expected to remain bullish for the day. Stoploss in longs should be kept at 16,900.Catch the mid-market details with Vinay Rajani.
U.S. stocks ended modestly lower on Tuesday, dragged down by a selloff in technology stocks as investors. Bond yields continued to extend gains with the 2-year U.S. Treasury note rising back above 4% on Tuesday, putting pressure on the technology sector.An important clue to the likely trajectory of Federal Reserve policy will come on Friday when the PCE inflation gauge for February will be published.Nifty fell marginally on March 28 ahead of the fiscal year end. At close, Nifty was down 0.20% or 34 points at 16951.7. Nifty closed at almost a five and half month low and in the process underperforming the other markets over the last few sessions. 16,747-17,045 could be the trading range for the Nifty in the near term. Tax loss related sales will come to an end today and we may soon see Indian markets performing in line with other markets.Indian markets could open flat to mildly higher, in line with largely higher Asian markets today and despite lower US markets on Tuesday. Listen to the D-Street Details with Devarsh Vakil.
Nifty is consolidating in the narrow range for the last three trading sessions and the range is getting contracted gradually. Support for the Nifty is seen at 16,900 odd levels, below which selling pressure can intensify. The short-term Trend of the Nifty is expected to remain down unless Nifty surpasses the 17,210 resistance. Traders should cut longs below 16,900 support in Nifty.Catch the mid-market details with Vinay Rajani.
U.S. stocks ended mostly higher on Monday afternoon as investors welcomed waning signs of banking sector stress.Asia-Pacific markets were higher on Tuesday as investor fears over the recent banking turmoil continued to show signs of easing.Nifty ended in the positive on March 27 after two loss days, though it closed much lower than the intra-day high.16,747-16,828 band could offer support in the near term while 17,107-17,145 could offer resistance. Mood in Indian markets currently in the holiday shortened week and ahead of the fiscal year end seems to be to reduce positions especially in the broader market and take tax losses.Indian markets could open mildly higher, in line with largely higher Asian markets today and mostly higher US markets on Monday. Listen to the D-Street Details with Devarsh Vakil.
The trend of the market is expected to remain bullish for the day in the large-cap segment. Traders should avoid trading longs in the mid- and small-cap segments today. Intraday resistances for the Nifty are seen at 17,063 and 17,182. Supports for the Nifty are seen at 16,975 and 16,917.Catch the mid-market details with Vinay Rajani.
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U.S. stocks finished on Friday higher, despite a jump in the cost of Deutsche Bank’s credit-default swaps reigniting banking-sector worries. The bank’s credit-default swaps had risen to the highest level since late 2018, according to a Reuters report Friday. For the week, the Dow gained 1.2%, while the S&P 500 rose 1.4% and the Nasdaq advanced 1.7%. Treasury Secretary Janet Yellen announced on Friday she called an unscheduled meeting of the Financial Stability Oversight Council or FSOC which was created in the wake of the 2008 financial crisis to help the government combat threats to financial stability. Yields on the US 2-year Treasury note, and US 10-year Treasury note each fell Friday in their third straight week of declines. Two-year yields slid to 3.777% on Friday, the lowest level since September, while 10-year Treasury yields dropped to 3.379%, their lowest rate since January.Profits at industrial firms in China declined 22.9% in the first two months of 2023 from the year before, official data showed on Monday, as the factory sector struggles to claw its way out of the slump caused by COVID-related disruptions. The contraction followed a 4.0% fall in industrial profits for the whole of 2022.Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S. and Europe.Nifty continued to fall for the second consecutive session on March 24 pulled down by weak global cues. At close, Nifty was down 0.77% or 131.9 points at 16,945.1. Nifty has made a short-term top at 17,207, which could act as a resistance in the near future. It could go towards 16,748 over the next few days. Global developments on the banking front and uncertain US Fed rate pathway ahead are bringing uncertainties for the market participants. Events in the week ahead include a final reading of fourth-quarter US gross-domestic-product growth and the February report on the Federal Reserve’s preferred inflation gauge.Indian markets could open higher, despite mixed Asian markets today and in line with higher US markets on Friday. Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Nifty mid cap and small cap indices are trading down by 0.28% and 0.37%. Intraday resistances for nifty are seen at 17,109 and 17,173. Intraday Support for the Nifty is seen at 16,995. Trend of the market is expected to remain rangebound with slightly positive bias for rest of the session.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished higher in volatile trading on Thursday, clawing back some of the Wednesday’s selloff as investors attempted to shake off concerns about banking-sector stability and the impact of an expected credit crunch. The Swiss central bank lifted borrowing costs by 50 basis points, In the U.K., the Bank of England raised its policy rate by 25 basis points, its 11th consecutive increase.Accenture Plc on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5 percent of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. Nifty gave up the gains of the morning after a gap down opening and ended in the negative on March 23. At close, Nifty was down 0.44% or 75 points at 17,076.9. Nifty could not build on the two-day gains. 17,200-17,225 is proving to be a tough resistance. On falls, 16,985 could provide support. Indian markets could open flat to mildly lower, in line with range bound and mixed Asian markets today and despite higher US markets on Thursday. Listen to the D-Street Details with Devarsh Vakil.
Resistance for Nifty is seen at 17,207, which happens to be the high of yesterday’s high. Intraday supports for Nifty are seen at 17,125 and 17,056. Trend of the market is expected to remain bullish for the rest of the session. Traders should utilize intraday dips to create fresh longs.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply lower in volatile trade on Wednesday after the Federal Reserve raised interest rates by another 25 basis points, while noting that policymakers weren’t penciling in rate cuts this year. The decisions came despite recent stress in the banking industry following the collapse of two U.S. regional banks. He also acknowledged the central bank will raise rates even higher if they “need to.” Asian stocks struggled on Thursday in the wake of a slump on Wall Street. Nifty rose for the second consecutive session on March 22 after a range bound session. At close, Nifty was up 0.26% or 44.4 points at 17,151.9. It could now rise towards 17,422 once the 17,255 level is taken out. On falls, 17,067 could provide support.Indian markets could open flat to mildly lower, in line with range bound and mixed Asian markets today and despite sharply lower US markets on Wednesday. Listen to the D-Street Details with Devarsh Vakil.
Yesterday Nifty formed a higher top preceded by higher bottom on daily line chart, which indicates first sign of bullish trend reversal. Intraday support for Nifty is seen at 17,100. Band of 17,250-17,300 could act as a resistance in the near term for Nifty. Today’s session is expected to remain muted before the important announcement from the FED tonight.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply higher on Tuesday as anxiety about the banking sector receded after U.S. Treasury Secretary Janet Yellen’s reassurances on containing the banking crisis buoyed market sentiment.All three major stock indexes booked back-to-back gains ahead of Wednesday’s Federal Reserve interest-rate decision. There’s an 83% chance of a 25-basis-point increase to the federal-funds rate when the Fed wraps its two-day policy meeting on Wednesday.Asian shares displayed a cautious bounce on Wednesday. Nifty rose for 3rd day out of the past four sessions on March 21 aided by overnight gains in the US markets. At close, Nifty was up 0.70% or 119.1 points at 17,107.5. Nifty followed up on the upside post the hammer formed on the previous day. A move about 17,146 could take the Nifty to 17,255 in the near term. On falls 16,985 could offer support.Indian markets could open mildly higher, in line with positive Asian markets today and sharply higher US markets on Tuesday. Listen to the D-Street Details with Devarsh Vakil.
After yesterday’s sharp recovery in last one hour, Nifty is consolidating today. All Asian Markets are trading in green today. Looking at the global markets and technical setup, markets are likely to remain strong for rest of the session. Traders are advised to utilize the intraday dips to initiate fresh long positions in nifty. Stoploss for Nifty longs should be kept at 16,900.Catch the mid-market details with Vinay Rajani.
U.S. stocks rallied to finish near session highs on Monday, as investors appeared becalmed by the latest efforts to stave off a potential global banking crisis ahead of this week’s Federal Reserve interest-rate decision. US stocks finished higher as regulators worldwide rushed to shore up market confidence, with the recent financial turmoil spurring speculation on a slower pace of tightening from major central banks.Asian stocks advanced on Tuesday following gains on Wall Street as immediate concerns over the strength of the global financial system dissipated. Nifty snapped a two-day rise on March 20 and closed in the negative, though after witnessing a sharp rebound from the afternoon lows. At close, Nifty was down 0.65% or 111.7 points at 16,988.4. Nifty has formed a bullish hammer on daily charts after forming two dojis, hinting at possibility of an upward reversal. 17,146-16,939 band needs to be broken on either side for an accelerated move in that direction.Indian markets could open mildly higher, in line with largely positive Asian markets today and higher US markets on Monday. Listen to the D-Street Details with Devarsh Vakil.
A level of 17,145 seems to have become ceiling for the Market in the short term and unless that is take out positional trend of the Nifty will remain bearish. India VIX is up by 12%, which indicates rising fear and volatility in the market. Previous swing low for Nifty is 16,850 which can act as a short-term support. Below 16,850, Nifty could slide towards next support of 16,747. Catch the mid-market details with Vinay Rajani.
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U.S. stocks ended lower on Friday as worries about banking-sector stability reemerged following a bankruptcy filing by SVB Financial Group and the release of data showing banks borrowed $165 billion from the Federal Reserve over the past week. For the week, the Dow fell 0.1%, the S&P 500 gained 1.4% and the Nasdaq climbed 4.4%. Nasdaq saw its biggest weekly percentage gain since January.Asian stocks fell after opening higher on Monday after relief at a weekend rescue deal for Credit Suisse and a concerted effort from central banks to shore up the mood, though trade was tense and volatile as contagion fears stalked financial shares. Investors are wary about a range of risks including contagion, the fragile state of U.S. regional banks, and moral hazard.On a weekly basis, Nifty fell 1.8%, falling for the second consecutive week, though it recovered partly from the intra-week low. Nifty could now continue the bounce and head towards 17,255-17,353 band while 16,855 could offer support. Investor wariness about a potential banking crisis despite a lifeline offered, could restrict a fast upmove. Unexpected outcome of the US Fed meet could bring some turbulence in the markets. Listen to the D-Street Details with Nandish Shah.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
On Intraday charts, Nifty has been forming higher tops and higher bottoms, which indicates that market could remain bullish for rest of the session. Intraday resistances for Nifty are seen at 17,081 and 17,145, while supports for the same are seen at 16,990, 16,950 and 16,910. Traders are advised to cut shorts and go long for rest of the session. Catch the mid-market details with Vinay Rajani.
U.S. stocks ended sharply higher Thursday as an agreement by a group of big banks to deposit $30 billion with troubled lender First Republic Bank helped soothe fears of a rolling banking crisis. The US Fed will meet on March 21-22 and release its decision at 2 p.m. Eastern next Wednesday. Fed Chair Jerome Powell will follow with a press conference a half hour later. Nifty snapped a five day fall in a volatile session on March 16. In the process, it rebounded from the brink of a technical correction (10% fall from the recent high, which is also the all-time high). At close, Nifty was up 0.08% or 13.5 points at 16,985.6. Nifty formed a long legged doji after a fall, hinting at a short-term reversal to upside. It could rise towards 17,224 over the next few days.Listen to the D-Street Details with Nandish Shah.
Today is the 6th consecutive session when Indian benchmark indices have been falling. During the day, we can expect some recovery from the lower levels. A level of 17,050 can act as intraday resistance. However, the positional trend is still bearish.
U.S. stocks ended mostly lower Wednesday, but well off the session’s worst levels, after concerns over the health of Credit Suisse sparked renewed banking-sector anxiety. Major U.S. stock indexes finished mostly lower on Wednesday after the slump in shares of Credit Suisse stoked fears of broader banking sector issues following the fallout of U.S. banks Silicon Valley Bank and Signature Bank in the past week. Swiss authorities said in a statement later in the day that Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks, but the national bank will provide additional liquidity if necessary. US treasury yields plunged on Wednesday, with the yield on the 2-year Treasury diving almost 25 basis points to 3.973%, the lowest level since September 20, 2022. Asian stocks pared losses Thursday as news that Credit Suisse Group AG would borrow money from Switzerland’s central bank provided a measure of calm for investors. Nifty fell for the fifth consecutive session on March 15 as worries over banking contagion in the developed world continued to hurt sentiments. At the close, Nifty was down 0.42% or 71.2 points at 16,972.2. Nifty failed to build on the opening gains on March 15 and ended in the negative. 16,747-17,166 could be the trading range for Nifty in the near term. The day when Nifty has a gap-up opening and closes near the day’s high could signify a short-term reversal. Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite mostly lower US markets on Wednesday. Listen to the D-Street Details with Devarsh Vakil.
Nifty made a day’s high at 17,211 in the first 5 min of trade and turned south. Nifty Small cap Index is up by more than 1% and is outperforming the Nifty with good margin. Nifty has got resistances at 17,255, while Support for the same is seen at 16,987. Trend of the Nifty is still bearish, and traders should remain cautious.Catch the mid-market details with Vinay Rajani.
U.S. stocks ended sharply higher in volatile trade on Tuesday, rebounding from their steep losses in the aftermath of the failure of Silicon Valley Bank, as investors digested February inflation data which matched estimates and suggested pressure on prices may be easing.February’s consumer-price index came in largely at expectations. The cost of living stood at 6% year over year, down from 6.4% a month earlier. The 6% headline number is the lowest since September 2021. Stocks of America’s regional banks, which have been under pressure, showed a bounce on Tuesday.There might be some hope the February data — combined with the interest rate pressures on banks — could convince the Fed to stop rate hikes all together. Other market observers are split on the idea and say a 25-basis point increase could be the more likely result.Oil prices dropped over 4 percent to a three-month low on Tuesday. Asian equities climbed on Wednesday as investors wagered that the worst of the global fallout from the American banking sector has passed.Nifty fell for the fourth consecutive session on March 14, pulled down by ongoing banking crisis in the US. At close, Nifty was down 0.65% or 111 points at 17,043.3. Rebound in the global markets is being driven by the relief in that systemic issues seem to be subsiding.Nifty continued to fall as expected, but the pace of fall and the breadth of fall has reduced. This hints at a near-term bottom formation/reversal soon. Nifty could stay in the 16,788-17,160 band for the near term.Indian markets could open higher, in line with positive Asian markets today and sharply higher US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
At present Nifty is trading near day’s low with 110 points loss. Nifty Small cap Index is down by 0.8% and has reached at the lowest point since 22 July 2022. Resistances for Nifty are seen at 17,123 and 17,224.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished mostly lower on Monday, leaving Dow industrials with the fifth straight day of losses, as investors fretted over contagion risks even after regulators moved to inoculate the banking system from further runs on vulnerable financial institutions.Investors reassessed the outlook for interest rates after the collapse of Silicon Valley Bank in California and New York’s Signature Bank, which left regional bank shares under heavy pressure.U.S. treasury yields fell sharply as investors scaled back expectations for future Federal Reserve rate increases, with the bank rout seen as potentially crimping lending activity that could slow down the economy. The U.S. 2-year Treasury yield which last week was trading at 15-year highs above 5%, fell 55.8 basis points to 4.03% on Monday. That was the biggest one-day decline since Oct. 20, 1987.Asia-Pacific markets tumbled on Tuesday after investors grappled with the fallout of failed banks in the U.S., including Silicon Valley Bank. Nifty fell for the third consecutive session on March 13, pulled down by banking issues in the U.S. At close, Nifty was down 1.49% or 258.6 points at 17,154.3. Nifty ended at the lowest since mid-October. A breach of 17,087 level on the Nifty could result in a fall towards 16,747. Upmoves could face resistance at 17,325.Listen to the D-Street Details with Devarsh Vakil.
Nifty Partially filled the gap which was formed on 10th March between 17,451 and 17,574. Support for the Niffy is seen in the range of 17,300-17,325. Positional support for the Nifty is seen at 17,000 odd levels. India Vix has risen for the 5th consecutive session and currently up by more than 6%.Catch the mid-market details with Vinay Rajani.
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U.S. stocks ended sharply lower on Friday as investors parsed mixed signals from the February jobs report amid ongoing concerns about contagion in the banking sector from the troubles at Silicon Valley Bank.'On Sunday, U.S. financial regulators also announced all depositors at Silicon Valley Bank will get their money back.The US Federal Reserve on Sunday announced a new emergency loan program to bolster the capacity of the banking system in the wake of the collapse of Silicon Valley Bank. The program will help assure banks have the ability to meet the needs of all their depositors. Under the new program, banks and other lenders will be able to pledge Treasury’s and mortgage-backed securities for cash.Asia-Pacific markets fell on Monday (but were recovering from lower levels) as U.S. regulators announced plans to backstop both depositors and financial institutions associated with Silicon Valley Bank, seen as a move to stem further systemic risk.Nifty fell on Friday as expected with a gap down but did not close at the intra-day low. Key data points to watch out for in the coming week include India CPI on Monday, US CPI on Tuesday, and US retail sales on Wednesday. These could influence the expectations on interest rate trajectory and risk appetite of investors.Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
After showing sharp weakness on Thursday, Nifty continued with follow-through declines so far today. Intraday resistance is placed at 17,450 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished sharply lower on Thursday, with the financial sector logging a sharp one-day drop, while investors awaited Friday’s February employment data that could help decide how large an interest rate hike the Federal Reserve will impose at its next meeting in two weeks.U.S. stocks gave up early morning gains to close sharply lower as investors fled the bank sector following SVB Financial Group’s asset sale (disclosed large losses from securities sales and a stock offering meant to provide a boost to its balance sheet.) and the announcement of Silvergate Capital Corp.’s decision to wind down is crypto banking operations.Nifty snapped a three-day rally on Mar 09 and ended in the negative, pulled down by negative global cues. Nifty failed to cross 17,800 in this move and seems to have made a lower top. This does not augur well for the large caps. Nifty could now stay in the 17,322-17,681 band for the near term.Indian markets could open lower, in line with negative Asian markets today and sharply lower US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
After showing intraday upside recovery from the lows on Wednesday, Nifty continued with weakness with choppy movement so far today. Immediate support is at 17,600 levels. Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes ended mixed on Wednesday, attempting to recover from Tuesday’s broad-based selloff following comments by Federal Reserve chairman Jerome Powell suggesting more interest rate rises may be necessary to tame inflation than investors were expecting.Investors tuned in to the second day of Fed Chair Powell’s semi-annual monetary policy testimony to Congress in which Powell said the central bank has not made any decision on the size of a potential interest rate hike later this month despite strong labor market data and a rise in inflation in January.Policymakers will scrutinize Friday’s jobs report for three key indicators: payrolls, wage gains and the unemployment rate. After opening lower on the back of weak global cues, Nifty recovered nearly 150 points from the intraday low to close near the day highs. 17,500 could now be considered as an immediate support for the Nifty while 17,800 could act as an immediate resistance for Nifty. Above 17,800, Nifty could move towards the next resistance level of 17,924 and 18,135.Indian markets could open flat, in line with rangebound Asian markets today and mixed US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
After showing a sharp upmove in the previous two sessions, Nifty slipped into weakness so far today. Immediate support is at 17,600 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes finished sharply lower on Tuesday as investors digested Federal Reserve Chairman Jerome Powell’s hawkish message to Congress on the first day of his semi-annual, two-day monetary policy testimony that the central bank will not rule out bigger interest rate hikes at the coming March meeting in order to tame stubborn inflation. Nifty closed higher for the second consecutive day on Mar 06, though far from the intraday high. At close, Nifty was up 0.67% or 117.1 points at 17,711.5. Nifty faced resistance from the downgap made on Feb 22 and corrected intraday, though ending in the positive. Nifty needs to break the 17,600-17,800 band for cues on future direction.Indian markets could open lower, in line with negative Asian markets today and lower US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
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The sharp upside momentum continued in Nifty for the second consecutive sessions. A sustainable move above 17,800 is likely to bring more upside in the short term.Catch the mid-market details with Nagaraj Shetti.
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U.S. stocks powered higher on Friday to clinch big weekly gains, helped along by a retreat in the benchmark 10-year Treasury rate from above 4%. Stocks held on to gains Friday after the Institute for Supply Management said its services index held steady at a robust 55.1% in February, showing the U.S. economy is still in expansion mode even as headwinds pick up. U.S. stocks finished sharply higher on Friday, with the S&P 500 index snapping three straight weeks of losses, after fresh data pointed to a resilient economy despite interest rate hikes by the Federal Reserve. The CBOE Volatility Index has declined more than 14% this week to 18.5 on Friday.Asian markets opened higher on Monday after the U.S. stocks ended last week on a positive note, driven by speculation that the Federal Reserve won’t raise interest rates beyond peak levels, as it is already priced in. The street will look forward to the US February jobs report on March 10 and consumer-price index on March 14.Nifty rose sharply as expected and reversed some of the previous week’s losses. It now could head towards the 17,772-17,924 band. On falls 17,468 and later 17,303 could offer support. On weekly charts, formation of a hammer like pattern suggests continuation of upmove. Breadth of the market needs to improve on a consistent basis and the broad market indices need to catch up with the frontline indices. Cyclical sectors are back in favour due to value buying by investors.Indian markets could open higher, in line with mostly higher Asian markets today and higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Nifty has reached short term resistance of its 200 days EMA, currently placed at 17,581. Sustainable level above 17,581 could extend the gains towards 17,637 odd levels. Intraday support of the Nifty is seen at 17,500. Market is likely remain bullish for the rest of the session. Dips should be utilized to accumulate longs. Midcaps and small cap segment is expected to participate further in the upmove of the market.Catch the mid-market details with Vinay Rajani.
U.S. stocks closed higher on Thursday, with the S&P 500 and Nasdaq Composite shaking off earlier weakness, despite the 10-year Treasury yields rise above 4% and concerns about additional Federal Reserve rate hikes.The Dow led the day’s gains, finding support as investors cheered results from component Salesforce Inc.(up 11.5%) in post market hours.Benchmark 10-year Treasury yields were near a four-month high at 4.066%, while two-year yields also advanced to 4.889%, around a fresh 16-year high.China’s services sector saw a jump in activity, according to the Caixin/S&P Global services purchasing manager’s index, with a reading of 55 in February from 52.9 in January.Asian shares rose on Friday after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China.Nifty continued its downmove on Mar 02 after a one-day rise, pulled down by weak Asian cues. At close, Nifty was down 0.74% or 129 points at 17,321.9. Nifty needs to protect 17,255 in the near term to avoid further acceleration in selling. On upmoves, 17,440-17,529 bands could offer resistance.Indian markets could open higher, in line with positive Asian markets today and higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty is facing stiff resistance at its 5 days EMA for last three consecutive sessions. Above 17,500 Nifty could find further momentum on the upside. BankNifty has continued its outperformance and is currently trading almost flat. Trend for the days seems sideways for the benchmark indices.Catch the mid-market details with Vinay Rajani.
U.S. stocks closed mostly lower on Wednesday to start March, after the release of weak economic data, a further rise in bond yields, and remarks by several Federal Reserve officials reiterated the need for higher interest rates to combat inflation.Moody's Investors Service on Wednesday raised India's economic growth estimate for 2023 to 5.5% from 4.8% pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum.Nifty snapped an 8-day fall on Mar 01 helped by positive Asian cues. At close, Nifty was up 0.85% or 146.9 points at 17,450.9. Nifty ended the short-term downtrend on expected lines and rose well on Mar 01. Nifty could rise first towards 17,610 in the near term while the 17,299-17,353 bands could offer support.Indian markets could open mildly down, in line with mostly lower Asian markets today and largely negative US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
BankNifty has continued its outperformance and is trading at 6 day’s high. Above 17,450, Nifty could move up to 17,600. BankNifty is expected to extend the gains towards 41,100 odd levels in spot. Trend of the Asian markets is bullish, and the same is going to add further strength in the Indian markets today.Catch the mid-market details with Vinay Rajani.
US stocks closed a rough February with losses on Tuesday, with the Dow booking the sharpest monthly drop since September, as rising interest rates and the drag of stubborn inflation in the U.S. and abroad rattled investors. For the month, the S&P 500 fell 2.61%, the Dow slid 4.19% and the Nasdaq shed 1.11%.Nifty barely managed to survive 17,300 level on Feb 28 and closed the session at 17,304, 89 points or 0.51% lower at 17,304. Nifty could stay in the 17,186-17,455 band for the near term.Indian markets could open flat to mildly down, in line with mostly rangebound Asian markets today and despite lower US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has failed to sustain the bounce back seen on Monday and has corrected from the highs of today. Further weakness could be seen if the support of 17,339 is broken. Catch the mid-market details with Subash Gangadharan.
Nifty could stay in the 17,299-17,517 band for the near term.Listen to the D-Street Details with Devarsh Vakil.
Nifty has resumed the downtrend and has broken the 200-day SMA today. Further weakness could be seen if the support of 17,299 is broken.Catch the mid-market details with Subash Gangadharan.
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U.S. stocks finished sharply lower on Friday, with all three major indexes suffering weekly losses, after the Federal Reserve’s preferred inflation measure came in hotter-than-expected for January. For the week, the Dow fell 3% while the S&P 500 slid 2.7% and the technology-heavy Nasdaq Composite dropped 3.3%. U.S. stocks sank on Friday, suffering weekly losses as concerns over sticky inflation weighed on the market.Nifty ended lower in a volatile session on Feb 24. It was the 6th consecutive lower close for the nifty at 17,465. Nifty is marching towards its 200 days SMA support, placed at 17,368. On upside 17,552-17,620 could offer resistance.Indian markets could open flat, in line with mostly rangebound Asian markets today and despite lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Nifty has resumed the downtrend after a positive opening. Further weakness could be seen if the support of 17,405 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks scrambled higher on Thursday to end a back-and-forth session in the green to snap a four-day losing streak. Nvidia Corporation delivered upbeat guidance following quarterly results that beat on both the top and bottom lines, sending its shares more than 14% higher.Economic data was a mixed bag. Gross domestic product data showed the economy grew at 2.7% annual rate in the fourth quarter, revised lower from the 2.9% published in January, although still growing from last year’s levels. Jobless claims, a proxy for layoffs, fell to 192,000 for the last week, below consensus of 199,500, indicating a resilient labor market. Nifty fell for the fifth consecutive session, to close at 17,511. Nifty ended below its 200 Days EMA for the second consecutive day. Today, Nifty found support at its upward-sloping trend line adjoining the lows of 30th Sep 2022 and 1st Feb 2023.Resistance for the Nifty is seen at 17,720, which happens to be the previous swing low made on 13th Feb 2023. Longs in Nifty should be protected with 17,350 as the stoploss.Indian markets are likely to open higher in line with positive Asian markets and higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has resumed the downtrend after a bounce from the lows. Further weakness could be seen if the support of 17,535 is broken.Catch the mid-market details with Subash Gangadharan.
Derivative Expiry to call the shots. U.S. equities did an about-face in late-day trading to finish mixed, with the Dow and S&P 500 adding to yesterday's declines. Federal Reserve officials saw slowing inflation supporting an approaching peak in the federal-funds rate this year and emphasized their data-dependent stance, minutes from their latest policy meeting showed on Wednesday afternoon. US markets have a busy schedule for upcoming two days - key economic data which include GDP, Jobless claims, and PCE inflation data, key earnings, and Fed speakers. Nifty continued its southward journey for the fourth day in the row on the back of weak global cues and plunged more than 1.5% on Wednesday to close at 17,554, lowest close since 21st Oct 2022.Support for the Nifty is seen at 17353, which happens to be budget day low. Previous support of 17,719 is expected to act as a resistance going forward.Our markets are likely to open higher in line with rising Asian markets. Expiry related actions will dictate market movement today as February month’s derivative contracts will expire. Foreigners have short position in Index, and it is to be seen whether they let it expiry or roll it over to march month.Listen to the D-Street Details with Devarsh Vakil.
Nifty has witnessed continued selling pressure. Further weakness could be seen if the support of 17,560 is broken.Catch the mid-market details with Subash Gangadharan.
Bulls’ resolve to be tested today. U.S. equities kicked off the holiday-shortened week by posting sharp losses, leaving the major indexes with their worst day so far of 2023.Uncertainty regarding the Fed’s future rate hike decisions appeared to pressure market sentiment, as investors grappled with recent hot inflation data.Nifty fell for the third consecutive session, to close at 17,826. Bank Nifty continued to close at the lowest level since 31st Jan 2023. Nifty has been forming lower tops and lower bottoms on the short-term charts. Our markets are likely to open with deep gashes on the back of weak international cues, then the resolve of the bulls’ will be tested. Support for the Nifty is seen at its previous swing low of 17,719, below which bearish trend would find momentum. Resistance has shifted down to 18,000 odd levels in the Nifty.Listen to the D-Street Details with Devarsh Vakil
Nifty has witnessed some selling from the highs. Further weakness could be seen if the support of 17,817 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. markets were closed due to the Presidents’ Day holiday, U.S. futures fell on Monday night. The Stoxx Europe 600 Index was marginally higher after fluctuating in a tight range throughout the day. Asia-Pacific markets fell on Tuesday as investors await regional private surveys for factory activity. Despite strong global cues, Nifty closed lower by 0.56% or 100 points at 17,845. From the recent swing high of 18,134, Nifty has witnessed a correction of more than 300 points in the span of 3 trading sessions. Bank Nifty, closed at the lowest level since 31st Jan 2023 and continued to underperform the Nifty. Volumes in the cash segment were the lowest in the last 7 months. Support for the Nifty is seen at its previous swing low of 17,719, and if the Nifty were to sustain below that support it will have bearish implications on short-term charts. Resistance has shifted down to 18,000 odd levels in the Nifty.Markets are likely to open muted, in line with Asia pacific markets and US futures.Listen to the D-Street Details with Devarsh Vakil.
Nifty has witnessed some selling from the highs. Further weakness could be seen if the support of 17,883 is broken.Catch the mid-market details with Subash Gangadharan.
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Falling crude and FPI buying support the market. Mixed readings on inflation fuelled concerns that the U.S. Federal Reserve may extend its rate-hiking cycle longer than expected affected market sentiments last week. The S&P 500 slipped 0.2%, the Dow was essentially flat, and the NASDAQ added 0.6% for the week. The price of natural gas in Europe fell to the lowest level since late 2021, extending a decline that began late last summer and continued as temperatures remained relatively mild through the first half of winter. Earlier in 2022, many Europeans had feared that the war in Ukraine could trigger an energy crisis across the Continent this winter. US markets are scheduled to be closed today, on February 20th, in observance of the Presidents’ Day holiday. The domestic retail inflation accelerated while wholesale price inflation eased in January. On a weekly basis, Sensex gained 320 points or 0.53%, and closed at 61,003, while the Nifty closed positive, up by 88 points or 0.49%, and ended at 17,944 levels. 18,200-17,800 could be the new trading band for the Nifty in the near term.Indian markets are likely to open higher, with midcaps hogging the limelight for a couple of sessions in absence of overnight US cues tomorrow.Listen to the D-Street Details with Devarsh Vakil.
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Nifty has witnessed some selling from the highs. While the underlying trend remains up, further weakness could be seen if the support of 17,912 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended sharply lower on Thursday as investors digested another hot inflation report that showed price pressures at the wholesale level rose more than expected in January.Stocks in Asia dropped Friday as economic data and hawkish comments.Nifty rose for the third consecutive session on Feb 16 though closing off day's high. At close, Nifty was up 20 points at 18,035. Nifty rose as expected but could not hold on to gains. 18,135-17,881 could be the new trading band for the Nifty in the near term.Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has witnessed some selling from the highs. While the underlying trend remains up, short term weakness could be seen if the support of 18,052 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stock indexes ended modestly higher on Wednesday, as investors digested strong retail sales data.S&P 500 finished higher after wavering for most of the day, while the Dow trimmed all its losses in the final hour of trade, rallying more than 250 points from its intraday low to end in the green.Wednesday’s “massive” retail sales figures may have been partly related to warm weather but suggest the US economy “will easily avoid a recession” in the first quarter.Nifty broke out upwards out of a trading range, as expected. Now the trading range of the Nifty shifts to 17,856-18,118 with an upward bias for the near term.Indian markets could open mildly higher, in line with mostly positive Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
Nifty is trading in a range between the 17,904-17,960 levels. Further directional cues are likely to emerge on a move beyond this range.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended mixed after January’s consumer-price index showed inflation slowed for a seventh straight month, but not as quickly as economists had expected.The January consumer-price index showed the cost of living rising 6.4% year over year, down from 6.5% in December but hotter than the Wall Street forecast of 6.2%.Asian stocks and US equity futures fell Wednesday as investors weighed hot American inflation data.Nifty rose on Feb 14 snapping a two-day losing streak aided by positive global cues and soft WPI numbers in India.At close, Nifty was up 158 points at 17,929. Nifty has closed at the highest since Jan 24. In the process it has formed a bullish ascending triangle type of pattern. It could now stay in the 17,824-18,027 band for the near term.Indian markets could open lower, in line with negative Asian markets today and mixed US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has bounced back smartly after holding above Monday's lows. Further upsides are likely once the immediate resistance of 17,926 is taken out.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended sharply higher on Monday, rallying a day ahead of the latest consumer-price index reading, one of the most market-moving pieces of data of the past year. Economists forecast that the headline year-over-year January CPI inflation reading will fall from 6.5% in December to 6.2%.Nifty fell for the second consecutive session on Feb 13 dragged down by weak Asian cues. A break of 17,721 could lead to a faster fall towards the 17,517-17,545 band. On upmoves, 17,877 could be tough to breach in the near term. Indian markets could open flat to mildly higher, in line with largely positive Asian markets today and higher US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has broken Friday's lows and is trading with a weak bias. Further downsides are likely once the immediate support of 17,719 is broken.Catch the mid-market details with Subash Gangadharan.
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Global equity markets fell on Friday as rising interest rates unsettled investors amid a growing chorus of central bank officials insisting monetary policy needs to remain tight for some time to reduce inflation.Nifty fell marginally on Feb 10 after a two-day rise due to weak global cues. At close, Nifty was down 36 points at 17,856.5.Nifty witnessed a small 74 point high low range on Friday which is the lowest since Dec 14, 2022. This narrowing of range over daily and weekly time frame could portend higher moves/breakouts in Nifty on either side. Till then, Nifty could remain in the 17,651 – 18,061 band in the near term.Indian markets could open mildly lower, in line with largely negative Asian markets today and despite higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Nifty is now stuck in a range between the 17,801-17,888 levels. Further directional cues are likely to emerge on a move beyond this range.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended lower on Thursday, logging back-to-back losses after failing to hold onto early gains, as investors confronted rising bond yields while reassessing some better-than-expected corporate earnings reports. Nifty closed higher for the second consecutive session on Feb 09 aided by buying in IT stocks and despite volatility in Adani group stocks following MSCI review of their free float weights in their indices. At close, Nifty was up 0.12% or 21.8 points at 17,893.5. Nifty made another higher bottom on Feb 09 in the short-term time frame. It could now face resistance from the 17,972-18,016 band while the 17,652-17,721 bands could offer support in the near term.Listen to the D-Street Details with Nandish Shah.
Nifty is now stuck in a range between the 17,779-17,888 levels. Further directional cues are likely to emerge on a move beyond this range.Catch the mid-market details with Subash Gangadharan.
Nifty rose for the third consecutive session helped by largely positive global cues post the remarks by Fed Chair Powell on Tuesday night. At close, Nifty was up 0.85% or 150.2 points at 17,871.7. RBI’s MPC decided to hike the repo rate by 25 basis points to 6.50%, as expected. 7 out of 10 Adani group stocks ended in positive improving market sentiments. Nifty seems to have made a higher bottom on Feb 07 in a short-term time frame. It could now face resistance from the 17,972-18,016 band while the 17,652-17,721 bands could offer support in the near term.Listen to the D-Street Details with Nandish Shah.
Nifty has now broken out of an intraday trading range. Further upsides are likely once the immediate resistance of 17,880 is taken out.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended sharply higher on Tuesday after a volatile session in the wake of Federal Reserve chair Jerome Powell’s comments that inflation will decline significantly in 2023 but more interest-rate hikes will be necessary. But Powell’s remarks were less hawkish than some investors had anticipated, and the reaction in markets was one of relief. The tech-heavy Nasdaq 100 climbed over 2%, led by giants Microsoft Corp. and Apple Inc.All eyes will be on RBI Governor Shaktikanta Das when he unveils the outcome of the crucial monetary policy review today, the last one for this fiscal, and the first one in this calendar year. Most experts feel that the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will hike the key policy rate by 25 basis points.Nifty fell for the second consecutive session on Feb 07, though recovering some of the early afternoon losses. At close, Nifty was down 0.24% or 43.1 points at 17,721.5. Nifty formed a lower top for the second consecutive day. It shows a large amount of intraday volatility. 17,870 – 17,654 could be the trading range for the Nifty in the near term.Listen to the D-Street Details with Nandish Shah.
Nifty has now broken down from an intraday trading range. Further downsides are likely once the immediate support of 17,656 is broken.Catch the mid-market details with Subash Gangadharan.
U.S. stocks suffered a second day of losses on Monday after an unexpectedly strong jobs report at the end of last week renewed worries about how high the Federal Reserve will have to take interest rates.Turkey's lira hit fresh record lows after a powerful earthquake struck Turkey and Syria, killing more than 3,000 people.Nifty ended lower on Feb 06 after the gains seen on Friday. At close, Nifty was down 89.5 points at 17,764. Nifty could now stay in the 17,870-17,654 band in the near term. Indian markets could open higher, in line with mostly higher Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
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Nifty is now stuck in an intraday range between the 17,700-17,760 levels. Further directional cues are likely to emerge on a move beyond this range.Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended lower, with losses led by the technology-heavy Nasdaq Composite, after an unexpectedly strong surge in January nonfarm payrolls and disappointing earnings from a trio of tech-related corporate heavyweights.Still, the Nasdaq rose for a fifth straight week, notching its longest weekly winning streak since the week ending Nov. 5, 2021,The U.S. economy added 517,000 jobs in January, far exceeding economist expectations for a rise of 187,000, while the unemployment rate fell to 3.4%, its lowest since 1969.After an eventful week, Nifty managed to close above the resistance of 17,760 and in the process registered a weekly gain of 1.42%. Now the Nifty will track the balance of corporate results and the outcome of the RBI MPC meet on Feb 08. It could test the 17,972-18,063 band in the near term while 17,542 could now act as a support.Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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U.S. stocks ended mostly higher on Thursday after the Nasdaq Composite and the S&P 500 index surged to their highest levels in about five months, buoyed by upbeat earnings from Facebook parent Meta Platforms (up 23.3%) and dovish remarks from Federal Reserve chair Jerome Powell on Wednesday.Billionaire Gautam Adani is in talks with creditors to prepay some loans backed by pledged shares, while India’s biggest stock exchanges placed six Adani companies on a watchlist for additional trading scrutiny.Asian shares were mixed in cautious trading on Friday.Nifty ended marginally in the negative on Feb 02 after recovering most of the morning loss. Nifty has closed in a narrow 58-point band (17,604-17,662) over the last 5 sessions: reflecting the tug of war between the bulls and bears.17,445-17,670 could be the band for the Nifty in the near term.Indian markets could open mildly higher, despite mixed Asian markets today and higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty is now stuck in a range between the 17,445-17,654 levels. Further directional cues are likely to emerge on a move beyond this range. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished higher on Wednesday, reversing earlier losses after the Federal Reserve raised its policy interest rate by 25 basis points, as widely expected, while signaling only a few more might be needed in its inflation fight.Nifty ended in the negative on the Budget Day on Feb 01 after a roller coaster day.Nifty showed large volatility on Budget Day (619 point range) which is not unusual.US Fed raised its policy interest rate by 25 basis points, as widely expected, while signaling only a few more might be needed in its inflation fight. This may be good news for the global equities. Nifty continues to face resistance at around 17,760 levels, while support levels have now fallen to 17,353.Listen to the D-Street Details with Devarsh Vakil.
After showing a gradual upside in the last couple of sessions, Nifty witnessed a sharp upmove so far today, post presentation of Union Budget 2023. Intraday resistance is at 18,050 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended sharply higher on Tuesday.Nifty recovered well from the lows of the morning. It also made a higher low compared to the previous session.We have the Union Budget today. Breaches of 17,542-17,760 bands WITH Volumes and sustenance beyond this range will be crucial to watch out for.Indian markets could open higher, in line with mostly higher Asian markets today and sharply higher US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
After showing high volatility on Monday, Nifty displayed choppy movement so far today, which is ahead of key economic event-Union Budget 2023 tomorrow. Intraday support is at 17,520 levels.Catch the mid-market details with Nagaraj Shetti.
US stocks declined on Monday as investors turned cautious going into an eventful week that includes the Federal Reserve’s rate decision and a slew of big-tech earnings.Ahead of the Union Budget/US Fed meet outcome, the markets could remain volatile with an upward bias for the next few sessions.17,760 could be the resistance for the Nifty while 17,493-17,542 band could offer support. Indian markets could open higher, in line with mostly higher Asian markets today and despite negative US markets on Monday.
After showing sharp weakness in the last couple of sessions, Nifty witnessed high volatility so far today.
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U.S. stocks finished higher Friday, with the technology-heavy Nasdaq Composite booked a fourth straight week of gains, its longest weekly win streak since August.Indian benchmark equity gauges Sensex and Nifty hit their over three-month lows on Friday, dragged by massive selling mainly in Adani group and banking stocks. At close, Nifty was down by 288 points or 1.61% at 17,604. Above 17,761, resistance for Nifty is seen at 18,000. Below 17,493, Nifty could extend its fall towards the next support of 17,350.The coming week is full of events. Apart from the balance Q3 corporate results, we have the Union Budget on Feb 01 and the US Fed meeting on the same day. The completion of Adani Enterprise FPO on Jan 31 is another event that could impact the price trends of Adani group stocks.Indian markets could open mildly higher today.
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Nifty continued with sharp weakness for second consecutive session today. Intraday resistance is placed at 17,680. Catch the mid-market details with Nagaraj Shetti.
Stocks ended the day in the green on Thursday with the S&P 500 ending at the highest level since early December, as the markets digested Q4 GDP growth, which was higher than expected.Nifty fell sharply on Jan 25th after short seller Hindenburg raised concerns over the Adani group’s debt position. At close, Nifty was down 1.25% or 226.4 points at 17,891.9.Nifty seems to have given a fresh breakdown. The 17,761-17,774 band is the immediate support for Nifty below which the downtrend could accelerate. On upmoves, 18,145 could prove to be a resistance.Indian markets could open mildly higher, in line with higher US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
After showing range bound movement in the last few sessions, Nifty slipped into sharp weakness so far today. Immediate supports to be watched around 17,800 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks closed mixed on Tuesday as investors followed the latest batch of company earnings, which reflected downbeat outlooks that could possibly foretell a coming recession. Dow Jones Industrial Average still finished over 100 points higher for the third consecutive day of gains.Nifty closed flat on January 24th. 18,180-18,259 band is proving tough for the Nifty to break.The Nifty has formed higher lows over the past two days. 18,016 could be a support in the near term. Indian markets could open lower, in line with mixed Asian markets today and mixed US markets on Tuesday.
The choppy movement continued in the market and Nifty struggled to sustain the opening gains today as it slipped into weakness from the day’s high.Listen to the Mid-day Market Commentary by Nagaraj Shetti.
The Nasdaq Composite led stocks to a higher finish on Monday. Easing recession fears and hopes of a less aggressive Federal Reserve buoyed sentiments.The U.S. leading economic index sank 1% in December and flashed even stronger signals that a recession is likely soon.Nifty has been forming a descending triangle pattern on the daily chart with multiple bottoms in the range of 17,750-18,180 range. For a sustained directional move, Nifty has to break out on either side of the range on a closing basis.Indian markets could open higher, in line with higher Asian markets today and positive US markets on Monday.
After showing weakness with choppy movement on Friday, Nifty shifted into an upmove with range bound action so far today. Intraday support is at 18,060 levels.Catch the mid-market details with Nagaraj Shetti.
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U.S. stocks ended sharply higher on Friday, with the technology sector helping to alleviate some of the week’s losses. Wall Street rallied after a jump in Netflix and Alphabet shares.We are now entering peak corporate results season next week and the week thereafter we will have the Union Budget.18,184-17,774 is the broad range for the Nifty, a breakout of which could decide the direction in the near term.Indian markets could open higher, in line with higher Asian markets today and sharply higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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After showing weakness with range bound movement, Nifty continued with choppy movements so far today. Intraday resistance is at 18,150 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended lower for a third straight session on Thursday as investors weighed mixed signals on the strength of the economy and digested another round of corporate earnings reports. European shares recorded their biggest daily selloff of the year, and a global stock index posted a third straight day of declines.Nifty snapped a two-day rally on Jan 19 pulled down by weak global cues. At close, Nifty was down 57 points at 18,107. Nifty remained in narrow band through the day. Nifty could stay in the 17,999-18,243 band in the near term.Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
Nifty slipped into weakness so far today after post sustainable upside bounce of the last two sessions. Intraday resistance is at 18,170.Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes finished sharply lower on Wednesday, with both the Dow Jones Industrial Average and the S&P 500 index booking their worst day in over a month, after data on falling retail sales in the holiday shopping season raised concerns that consumer spending and economic growth are losing momentum as the Federal Reserve raises interest rates. Nifty rose for the second consecutive session on Jan 18 driven by positive Asian cues and dovish signals from the Bank of Japan. At close, Nifty was up 0.62% or 112.1 points at 18,165.4. Metal stocks continued to rise post China reopening. Nifty has managed to build on the gains of the previous day. Now it could face resistance from 18,265 while the 18,049-18,072 bands could provide support.Listen to the D-Street Details with Nandish Shah.
Nifty continued with follow-through upmove so far today amidst range movement. Intraday support is at 18,100.Catch the mid-market details with Nagaraj Shetti.
Nifty closed on a strong wicket on 17th January where it closed above its 11-day EMA, placed at 17,993. For last four trading sessions, Nifty has been hitting higher highs and higher lows, which is a sign of accumulation. In current up move, Nifty could find resistance at 18,141-18,265 band. On falls, 17,926-17,972 bands could provide support. Any level above 18,265, would start a new positional up-trend in Nifty.Listen to the D-Street Details with Nandish Shah.
Nifty sustained its early part gains so far today. There is a possibility of further upside in the mid to later part of the session. Intraday support is placed at 17,950-17,900 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stock markets were closed on Monday for the Martin Luther King Jr. holiday, but other exchanges around the world were open. The FTSE 100 is about to break out to all-time closing highs from way back in 2018. Other European markets finished higher today with shares in Germany leading the region. The DAX is up 0.31% while France's CAC 40 is up 0.28%. Nifty closed in the negative on Jan 16 after making lower tops and lower bottoms. Metal stocks came under selling pressure as China pledged to tighten supervision on the pricing of iron ore after the metal’s surge in recent months. At close, Nifty was down 0.34% or 61.8 points at 17,894.9.Nifty once again failed to build on to gains. It could stay in the 17,994-17,774 band in the near term. A break out from this small range will lead to a sharp move in either direction.Listen to the D-Street Details with Nandish Shah.
After showing an upside bounce from the lows on Friday, Nifty struggled to sustain the opening gains so far today and slipped into weakness. Intraday support is at 17,860.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished higher on Friday driven up largely by financials. All three major benchmarks booked their best weekly percentage gains since Nov. 11th.The U.S. stock market will be closed today for the Martin Luther King Jr. Day holiday.Asian shares started cautiously on Monday as investors waited nervously to see if the Bank of Japan (BOJ) will defend its super-sized stimulus policy at a pivotal meeting this week.Nifty bounced up after a weak first hour on Jan 13 and closed at its highest in 4 sessions. At close, Nifty was up 0.55% or 98.4 points at 17,956.6.Nifty once again took support from 17,774, raising the importance of that level. Despite relentless selling by FPIs, Nifty has been able to remain stable in a wide band, helped by local flows.Nifty seems headed towards 18,127-18,256 band over the next few sessions provided the 17,774 level is protected.Indian markets could open flat to mildly higher.Listen to the D-Street Details with Devarsh Vakil.
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Nifty witnessed an upside recovery from early part weakness so far today and is currently trading higher. Immediate resistance is at 17,950.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended higher on Thursday after consumer-price index data showed inflation slowed again last month, but not by a wide enough margin to prompt the Federal Reserve to reconsider further interest-rate hikes.Revenue of Infosys increased 4.8% sequentially, Net profit was up 9.2%. The company has guided for 16%-16.5% revenue growth, compared to 15%-16% projected at the end of the September quarter, and 14-16% at the end of the June quarter.Asian stocks opened mostly higher.The past two days are witnessing recoveries from intra-day lows although selling pressure re-emerges at higher levels. Nifty could rise some more once it crosses 17,976.Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
After showing consolidation-type movement yesterday, Nifty slipped into weakness amidst a range movement so far today. Intraday resistance is at 17,850-17,900 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks closed higher on Wednesday, with Nasdaq Composite logging its longest win streak since September, as the market built on a positive start to 2023.India’s direct tax collections, net of refunds surged to Rs. 12.31 lakh crore, 19.6 percent higher from the corresponding period of the financial year 2021-22.Asian equities followed Wall Street higher to 7-month highs on Thursday.Nifty continues to be range-bound in a wide band of 17,774-18,141. A move on either side of this range could result in accelerated move in that direction.Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
After showing sharp weakness on Tuesday, Nifty shifted into a consolidation mode so far today. Intraday hurdle is at 18,000 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished higher on Tuesday, shaking off earlier losses to extend the new year’s rally.Equities climbed in Asia on Wednesday.Nifty gave up the gains of the previous session on Jan 10 pulled down by weak global cues.Nifty is not able to build on the gains beyond 18,150. A move below 17,774 could attract more selling pressure as the monthly low of December will then be breached. On upmoves 18,047-18,101 could act as a resistance.Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
After showing a sustainable upside bounce on Monday, Nifty witnessed a reversal on the downside so far today and is now trading lower. Immediate resistance is at 18,050 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks were mixed as the markets came off the highest levels of the day.Stocks were lifted initially as traders looked to extend a big surge on Friday, when jobs and services data raised hopes, the Federal Reserve can soon stop raising interest rates and the U.S. economy can avoid a hard landing.Tata Consultancy Services (TCS) on January 9 reported ITS NUMBERS. The revenue beat expectations, but the profit was below expectations.Nifty broke a 3-day losing streak on Jan 09 aided by positive global cues.The next resistance for Nifty is at 18,243-18,265 band. On falls, 17,892-17,936 band could provide support.Indian markets could open flat to mildly lower, in line with mixed Asian markets today and mixed US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
U.S. stocks ended sharply higher on Friday, with the Dow jumping 700 points, after an employment report showed wage gains slowed in December.India's gross domestic product (GDP) is estimated to grow by 7 percent in 2022-23,Asian stocks rose on Monday after US equities had their best day in more than a month.Nifty fell for the third consecutive session on Jan 06. At close, Nifty fell 132.7 points at 17,859.5. Nifty almost tested the recent lows of 17,779 and bounced up a little. Nifty has a strong support at 17,779 while 18,105 could act as a resistance in the near term.Indian markets could open higher, in line with positive Asian markets today and sharply higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Weakness with range bound movement continued in Nifty so far today. The next lower supports to be watched for short term is around 16,800 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes ended another choppy session in the red on Thursday as continued evidence of strength in the labor market fueled speculation the Federal Reserve has room to keep raising rates. ADP private payrolls data showed 235,000 jobs were created in December, beating expectations for 153,000 new jobs.The China Caixin/S&P Global services purchasing managers' index (PMI) rose to 48.0 in December from 46.7 in November.News that China's mainland border with Hong Kong will be reopened after three years had sent Asian-Pacific shares outside Japan to a four-month high overnight.Nifty could rise to the 18,080-18,120 band where it will again run into resistance.Indian markets could open flat, in line with mixed and rangebound Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
After showing sharp weakness on Wednesday, Nifty continued with follow-through weakness as of now. Immediate support is at 17,950 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks ended another choppy session slightly higher on Wednesday after the Federal Reserve’s meeting minutes showed none of the 19 top central bank officials think it will be appropriate to cut interest rates this year, while economic data suggested economic growth was slowing.Stocks in Asia rose following gains for US equities.Nifty fell after a two-day rise on Jan 04. Nifty at the close was down 1% or 189 points at 18,042.It could now retest the recent bottom of 17,774 over the next few days, while 18,080 could now act as a resistance.Indian markets could open flat to mildly higher.Listen to the D-Street Details with Devarsh Vakil.
After showing range bound movement with positive bias in the last few sessions, Nifty slipped into sharp weakness so far today. Next lower supports to be watched at 17,960 levels.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks edged lower on Tuesday with the biggest drags from Tesla and Apple.The U.S. Dollar Index rose 1% to 104.6. Precious metals prices jumped in the first trading session of 2023. Gold prices due in February advanced to fresh 6-month highs on Tuesday, while March silver climbed to settle at the highest since mid-April.Stocks in Asia were mostly higher in a sign of growing risk appetite on Wednesday.Nifty rose for the second consecutive session on Jan 03 after recovering from pre-noon losses.At close Nifty was up 35 points at 18,232.Indian markets could open flat to mildly lower.A move above 18,265 could result in a faster upmove while a breach of 18,080 could lead to fresh down move.Listen to the D-Street Details with Devarsh Vakil.
The consolidation movement continued in Nifty on Tuesday and is currently trading lower by 15 points. Having placed near support, there is a possibility of an upside bounce from the lows.Catch the mid-market details with Nagaraj Shetti.
Markets in Britain, Hong Kong, Ireland, Japan, Singapore, Canada, and the United States were shut yesterday.Brazilian markets delivered a withering verdict on leftist President Lula da Silva's first full day in office on Monday, the benchmark Sao Paulo stock market index ended 3.06% down.Indian Govt raised windfall tax on petroleum products exports. India’s manufacturing activity rebounded to a 26-month high in December as manufacturing PMI rose sharply to 57.8 in December from 55.7 in November.Nifty gained on the first day of the year after a flat opening. Nifty has attempted to recover well from the fall seen till Dec 23rd. It could now face resistance in the 18,265-18,346 band while 18,080 could offer support in the near term.Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
Nifty witnessed upside bounce so far with range bound action. Intraday support is placed at 18,100.
Traders - be cautious on the index front in JanuaryU.S. stocks ended lower Friday, booking their worst annual losses since 2008. The Dow dropped 8.8% in 2022, while the S&P 500 tumbled 19.4% and the technology-heavy Nasdaq plunged 33.1%.US markets will be closed Monday in observance of the New Year’s Day holiday, which falls on Sunday.Nifty has formed a bearish pattern on the charts, long side traders need to be cautious on the nifty front for this month.17,774 now becomes an important support level to track. On up moves, 18,255-18,473 band remains a crucial resistance.Indian markets could open flat to mildly lower.
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After showing upside bounce from the lows on Thursday, Nifty shifted into a consolidation as of now. Intraday support is placed at 18,150. Catch the mid-market details with Nagaraj Shetti.
U.S. stock indexes finished sharply higher on Thursday, the second-to-last trading session of the year, with the Nasdaq Composite jumping 2.6%, erasing losses from earlier in the week.Last hour trades for F&O monthly expiry squaring off/rollover and Nifty index weight rejig trades helped Nifty end 68.50 points higher at 18,191 on Dec 29th.Now Nifty could face resistance at 18,244-18,255 band while 17,977 could offer support for the near term.Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
50 days EMA for Nifty is placed at 18,160, odd levels and that can act as a strong resistance for the day. Intraday supports for the Nifty are seen at 17,992 and 17,964. Markets are expected to remain rangebound today. Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply lower on Wednesday, as investors assessed economic data on the housing market amid concerns over rising interest rates and economic growth in 2023. If the Chinese reopening story is positive for oil and commodity prices – and for the massively battered Chinese stocks, it’s bad news for global inflation.Nifty ended almost flat on Dec 28th after remaining in a narrow 94-point band through the day.Nifty could now face resistance in the 18,173-18,203 band and take support from 17,967-17,977 band in the near term.Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
50 days EMA for Nifty is placed at 18,165, odd levels and that can act as a strong resistance for the day.Above 18,165, Nifty could extend the gains towards 18,198 and 18,264. Intraday supports for the Nifty are seen at 18,083 and 18,016.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished mostly lower on Tuesday as investors returned from the three-day Christmas weekend. Rising U.S. Treasury yields pressured interest rate sensitive mega cap shares.Nifty recovered the morning fall and closed near the higher opening levels on Dec 27th.As we approach the F&O expiry for the month and also the year end, we could see some heightened volatility in the markets over the next two days.Indian markets could open lower, in line with mostly lower Asian markets today and negative Nasdaq composite index in the Us on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
50 days EMA for Nifty is placed at 18,163, odd levels and that can act as a strong resistance for the day. Intraday support for the Nifty is seen at 17,950. Markets are expected to remain stock specific bullish today.Catch the mid-market details with Vinay Rajani.
U.S. markets remained closed for holidays on Dec 26th. Shares rose on Monday in Asia in thin post-Christmas holiday trading, with markets in Hong Kong, Sydney, and several other places closed.Equities in Asia climbed on Tuesday amid positive sentiment from China’s rollback of Covid isolation measures and the cooling of a key inflation measure in the US.Nifty recovered on Dec 26th after a three-day losing streak. It could now face resistance at 18,127 and take support at 17,899 in the near term.Volumes could continue to be on the lower side as a lot of participants are on year-end holiday. Indian markets could open mildly higher, in line with higher Asian markets today.Listen to the D-Street Details with Devarsh Vakil.
Nifty opened up by 24 points at 17,830. Post opening, Nifty continued its upward journey and extended the price towards 18,006, adding more than 200 points from day’s low of 17,774. Support for Nifty are seen at 17,900 odd levels. Resistance for Nifty is seen at 18,100 odd levels. Catch the mid-market details with Vinay Rajani.
U.S. stocks ended higher in a choppy, preholiday session on Friday. U.S. markets will be closed Monday in observance of Christmas Day, which falls on Sunday.Stocks were largely higher in Asia on Monday amid cautious trading and reduced liquidity with many markets (Hong Kong, Singapore, and Australia) closed for holidays.Nifty fell for the fourth consecutive session on Dec 23rd, after US stocks sold off in the previous session. This was the sharpest single day fall in three months. Nifty fell 2.53% for the week, losing the most in 6.5 months.Nifty seems headed towards 17,730. 18,133 may be tough to cross on the upside.Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite higher US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Short term technical setup of Indian benchmark indices have turned bearish and it would be better to stay away from catching a falling knife. Next supports for the Nifty is seen at 17,774 and 17,671. Intraday resistances for Nifty are seen at 18,000 and 18,068.Catch the mid-market details with Vinay Rajani.
US stocks ended well off session lows but still fell sharply, after a round of upbeat economic data.Technology stocks were battered after a gloomy outlook from chipmaker Micron Technology Inc. weighed on sentiment.Growth was revised up to 3.2%, up from 2.9% from the previous update released last month. In other economic data news, the U.S. leading index fell a sharp 1% in November, suggesting that the U.S. economy is heading toward a downturn.Nifty fell for the third consecutive day on Dec 22nd, falling straightaway after an upgap open.18,244-18,340 could be tough to cross in the near term.Indian markets could open lower, in line with lower Asian markets today and negative US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Nifty and BankNifty have violated its 50 days EMA support. Nifty has also violated the support derived from previous swing high of 18,100. Breadth of the market is extremely weak with 1:10 adv-dec ratio in NSE. Next support for the Nifty is seen at 17,969. 18,162 and 18,278 are the intraday resistance for Nifty.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply higher on Wednesday, booking their largest daily percentage gain in three weeks, as investors digested better-than-expected earnings reports (Nike and FedEx) and data showing a rise in U.S. consumer confidence.18,133 is the next support for the Nifty while 18,340-18,385 band could offer resistance.Indian markets could open higher, in line with higher Asian markets today and sharply positive US markets on Wednesday.Listen to the D-Street Details with Devarsh Vakil.
Yesterday’s low of 18,202 has become a strong support for the Nifty and till that breaks view remains bullish on the Nifty for short term. Intraday resistance for Nifty is seen at 18,450, while supports for the same are seen at 18,330 and 18,257. Today, the trend of the Nifty is expected to remain choppy.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished mostly higher on Tuesday, bouncing after a four-session skid. Traders also weighed the potential ripple effects of the Bank of Japan’s surprise announcement to put a higher ceiling on government bond yields.On Tuesday the BoJ doubled the cap on the country’s 10-year bond, from 0.25% to 0.5%, causing the yen to jump more than 3%, while whacking equities in the region.Low market volumes have led to higher intra day volatility in the markets. Nifty could now remain in the 18,269-18,490 band in the near term and a breach of this band could result in accelerated move in that direction.Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
On hourly charts, lower tops and lower bottoms are intact, which indicates short term down trend. Nifty Intraday resistances are seen at 18,365 and 18,486. Intraday Supports for the Nifty are seen at 18,178 and 18,112. Trend of the Nifty is bearish and intraday pullbacks should be utilized to exit long positions.Catch the mid-market details with Vinay Rajani.
U.S. stocks booked a fourth straight session of losses on Monday, extending back-to-back weekly losses to finish at their lowest levels since early November, as recession fears dominated Wall Street.Nifty snapped a two-day losing streak on Dec 19th. Nifty could now rise in this corrective move to 18,496, while 18,319 could offer support. Volumes could remain low as more and more participants are on year-end holiday.Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and lower US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
On hourly charts, lower tops and lower bottoms are intact, which indicates short term down trend. Nifty has got strong resistance at 18,450. Supports for the Nifty are seen at 18,321 and 18,244. Considering the strong breadth, Market is likely to remain stock specific bullish in today’s trade.Catch the mid-market details with Vinay Rajani.
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U.S. stocks dropped for a third straight session and suffered a second straight week of losses on Friday as fears continued to mount that the Federal Reserve's campaign to arrest inflation would tilt the economy into a recession.Nifty lost 1.23% over the week and looks set to continue its down move with brief bounces thrown in. 18,088-18,133 band is the next support while 18,442 could be tough to breach in the near term.Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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Technically, Nifty has formed lower top and lower bottom on the daily chart, which is a bearish sign for the short term. Intraday rallies should be utilized to lighten long commitments. Intraday resistance for Nifty is seen at 18,450. Supports are seen at 18,270 and 18,200.Catch the mid-market details with Vinay Rajani.
U.S. stock indexes finished sharply lower on Thursday with the Dow Jones Industrial Average logging its biggest daily decline in over three months, as investors continued to digest tough talk from the Federal Reserve on inflation that revived concerns about a potential U.S. recession.The European Central Bank and Bank of England hiked their key lending rates by 50 basis points, but policy makers at the ECB emphasized that market participants should prepare for a series of rate increases to come.Nifty reversed a two-day uptrend on Dec 15th and ended 1.32% lower at 18,414.9, falling the most (in % terms) since Oct 11th. Nifty formed a lower top at 18,696 and could fall some more towards 18,133. On rises, 18,496-18,535 band could offer resistance. Indian markets could open mildly lower, in line with largely negative Asian markets today and sharply lower US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
BankNifty has formed lower top and lower bottom formation on intraday charts and expected to witness further fall in the short term. Next support for banknifty is seen at 43,500. Support for Nifty is seen at 18,500, below which it could slide towards 18,410. Trend of the Market is likely to remain bearish for the session.Catch the mid-market details with Vinay Rajani.
US stocks closed lower in volatile trading on Wednesday following a policy announcement by the Federal Reserve that raised interest rates by an expected 50 basis points, but its economic projections see higher rates for a longer period.The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signalling more hikes to come. The Fed boosted its benchmark rate a half-point to a range of 4.25% to 4.5%, its highest level in 15 years.Nifty has formed a doji after a two-day rise suggesting indecision. US Fed meet outcome is mostly on expected lines. 18,696-18,729 band could offer resistance to the Nifty on the upmoves, while 18,410-18,490 band could offer support.Listen to the D-Street Details with Devarsh Vakil.
Resistance for Nifty is seen at 18,730, above which it is likely to march towards new all-time high. Intraday Supports for the Nifty are seen at 18,653 and 18,581. Trend of the Market is likely to remain bullish for the session.Catch the mid-market details with Vinay Rajani.
U.S. stock indexes ended higher in volatile trade on Tuesday, but ended off their best levels, as investors shifted focus to the Federal Reserve’s next rate decision on Wednesday after inflation data showed more signs of cooling.Softer CPI numbers in India boosted sentiments while poor IIP numbers restrained the rise. Nifty could now rise towards the 18,668-18,729 band while 18,410 could offer support.Indian markets could open higher, in line with largely positive Asian markets today and higher US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Today BankNifty has hit fresh all time high of 43,978 and hovering around those levels right now. Resistance for Nifty is seen at 18,664, while support for the same is seen at 18,345. Trend of the Market is likely to remain bullish for the session.Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply higher on Monday as traders turned to inflation data and a Federal Reserve decision over the next two days that could set the tone for the remainder of the year.Nifty has witnessed a correction of more than 540 points from the recent swing high of 18,887. yesterday's low of 18,345 in Nifty is expected to act as a short-term support. On the upside 18,668 could act as a resistance for Nifty.Indian markets could open mildly higher, in line with mildly positive Asian markets today and higher US markets on Monday.Listen to the D-Street Details with Devarsh Vakil.
On breach of today’s low of 18,345, Nifty is expected to fall further towards next support of 18,100Above 18,523, Nifty could extend the rise towards 18,637.Catch the mid-market details with Vinay Rajani.
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US S&P 500 Index recorded its worst return in five weeks, while the small-cap Russell 2,000 Index endured its worst week since late September. All eyes will be on Us fed as it wraps up two-day FOMC meeting and pronounce its verdict on interest rates pace and magnitudeNifty is likely to find an immediate support in the vicinity of 18,400-18,350 levels where Put options have been written. A move below 18,350 can take Nifty further down to previous swing lows of 18,133. Markets will turn bullish if Nifty manages to surpass 18,665-18,729 convincingly.Listen to the D-Street Details with Devarsh Vakil.
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For last two trading sessions, 18,500 is acting as a support for the Nifty. Far support is seen at 18,442, which happens to be previous swing high on the Nifty chart. Traders are advised to either wait for 18,442 support or should wait for 18,730 to be taken out for initiating fresh long positions.Catch the mid-market details with Vinay Rajani.
U.S. stock indexes were higher in the last hour of trade on Thursday, with the S&P 500 attempting to snap a five-session streak of losses.The weekly unemployment numbers pointed to a slow but steady increase in layoffs as the U.S. economy weakens.Nifty broke a two-day losing streak on Dec 8th, aided by optimism about China's major shift in its tough zero-COVID policy and on “as expected” outcome of state assembly elections. After a brief hiatus, Nifty managed to find buyers near the crucial 18,500 levels, that trend remains positive. Bank Nifty has surpassed the crucial resistance of 43,400 to close at fresh all time high levels and continue to outperform the Nifty.Listen to the D-Street Details with Devarsh Vakil.
Support for the Nifty is seen at 18,442, which happens to be previous swing high on the chart. Traders are advised to either wait for 18,442 support or should wait for 18,730 to be taken out for initiating fresh long positions.Catch the mid-market details with Vinay Rajani.
Nifty closed lower for the second consecutive session on Dec 7th after RBI monetary policy committee's decision to hike interest rates by 35bps to 6.25%. It closed 0.44% or 82.25 points lower at 18560.5. World stocks eased on Wednesday after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China's major shift in its tough zero-COVID policy. Nifty is now headed towards 18,442 in the near term. On upmoves 18,591 could offer resistance.Listen to the D-Street Details with Nandish Shah.
Traders are advised to either wait for 18,445 support or should wait for 18,730 to be taken out for initiating fresh long positions. Below 18,564, Nifty could extend its fall towards the next support of 18,445.Catch the mid-market details with Vinay Rajani.
U.S. stock indexes finished sharply lower on Tuesday to build on the previous session’s losses, as Wall Street bank executives warned of possible recession.Meta Platforms Inc dragged down markets, with its shares sliding 6.8% following reports that European Union regulators have ruled the company should not require users to agree to personalized ads based on their digital activity.Nifty could fall some more towards the 18,442-18,535 band in this move in the near term. On upmoves, 18,696 could offer resistance.Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and negative US markets on Tuesday.Listen to the D-Street Details with Devarsh Vakil.
Nifty has witnessed a correction of more than 300 points from the recent swing high of 18,887. Support for the Nifty is seen at 18,442, which happens to be previous swing high on the daily chart. Resistance for the Nifty is seen at 18,730.Catch the mid-market details with Vinay Rajani.
The S&P 500 and Nasdaq Composite indexes recorded their worst day in almost a month on Monday, after a hotter-than-expected U.S. services-sector reading fueled concerns that the Federal Reserve may need to be even more aggressive in its inflation battle.Nifty has formed a hammer like mildly bullish pattern. 18,614-18,782 could be the band for the Nifty in the near term.Indian markets could open mildly lower, in line with mostly lower Asian markets todayListen and Share our Daily Morning Podcast.
Nifty is consolidating in the range. Major move is seen in Smallcap segment where Nifty Smallcap Index is up by 0.7% today and outperforming the Nifty with good margin. Traders are advised to focus more on stock specific move rather than Index in today’s trading session.Catch the mid-market details with Vinay Rajani.
U.S. stocks ended mostly lower on Friday on signs that the U.S. labor market remained robust in November despite the Federal Reserve’s interest-rate hikes. The S&P 500 rose 1.1% for the week.Asian shares edged higher on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, More Chinese cities announced an easing of coronavirus curbs on Sunday.Gains over the past few days are being digested and markets are looking at fresh data points to decide the further direction. The Nifty could face resistance in the 18,758-18,888 band while the 18,462-18,529 band could offer support in the near term.Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite mostly lower US markets on Friday.Listen to the D-Street Details with Devarsh Vakil.
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After showing upmove over the last 8 sessions the Nifty slipped into profit booking mode on Friday. Next lower supports to be watched at 18,560.Catch the mid-market details with Nagaraj Shetti.
U.S. stocks finished a choppy session mostly lower on Thursday after the ISM manufacturing index showed American factory activities contracted to a 30-month low in November.Gold futures jumped 3.1% on Thursday with the most-active contract settling at its highest since August.India collected Rs 1.46 lakh crore as GST in November, up 10.9 percent compared to the same month last year.After registering fresh all-time highs on Dec 1st, Nifty closed off the all-time highs, though rising for the eighth consecutive day.18,888 could be a tough resistance to cross while 18,678 could offer support in the near term.Indian markets could open mildly lower, in line with mostly lower Asian markets today and mixed US markets on Thursday.Listen to the D-Street Details with Devarsh Vakil.
Today’s is the 8th consecutive session, when Nifty is trading in green. Above, 18,887, Nifty could extend the upmove towards 18,929 resistances. Support for the short term is seen at 18,730. Breadth of the market is positive with 5:2 adv-dec ratio in NSE. Catch the mid-market details with Vinay Rajani.
U.S. stocks finished sharply higher on Wednesday, with the Dow Jones Industrial Average rising over 700 points after Federal Reserve Chairman Powell said the central bank’s pace of interest-rate increases can slow as soon as its December meeting.
Stocks extended gains in Asia after China appeared to soften is Covid stance.
Nifty made yet another fresh high on Nov 30th and ended the month in style gaining 4.14%.
Nifty could now rise gradually with some minor corrections thrown in between. On falls 18,614-18,678 band could provide support. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,680 is taken out. Weakness could emerge if the support of 18,616 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished a volatile session mostly lower on Tuesday, but the moves were modest as investors held off on making big bets ahead of remarks from Federal Reserve chair Jay Powell on Wednesday and November’s employment report set to be released on Friday.
Continued FPI buying in India has boosted the mainline indices which may continue to do well for the next 2 months with some intermittent corrections. 18,530 could offer support in the near term while 18,800 could be a resistance.
Indian markets could open flat, in line with rangebound Asian markets today and despite mildly lower US markets on Tuesday. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,673 is taken out. Weakness could emerge if the support of 18,607 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks had their worst day in nearly three weeks on Monday as protests in China raised global-growth risks.
Nifty clocked fresh all-time highs on Nov 28th going against the global cues.
Better global market trajectory could help Nifty climb further. 18,442 could be the support.
Indian markets could open flat to mildly lower, in line with mixed Asian markets today and despite sharply lower US markets on Monday. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,605 is taken out. Weakness could emerge if the support of 18,572 is broken. Catch the mid-market details with Subash Gangadharan.
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US stocks ended on Friday little changed as investors assessed prospects for less-aggressive central bank tightening. The focus will be on retail sales, China's newest COVID outbreak, and the Federal Reserve's next steps. Nifty could continue its up move and challenge and breach the all-time high of 18,604 soon, while the 18,261-18,403 band could provide support soon. Indian markets could flat to mildly higher, on lower Asian markets today and in line with flat US markets on Friday. Listen to the D-Street Details with Devarsh Vakil.
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With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,533 is taken out. Weakness could emerge if the support of 18,445 is broken. Catch the mid-market details with Subash Gangadharan.
US markets were shut on Nov 24th due to Thanksgiving holiday. European stocks gained on Nov 24th touching 3-month highs and the dollar fell after Federal Reserve meeting minutes showed support for more moderate interest-rate increases.
Nifty could now head towards its all-time high of 18,604 while 18,325-18,410 band could provide support. Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today. US markets were shut on Thursday. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,397 is taken out. Weakness could emerge if the support of 18,360 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stock indexes finished higher for a second day on Wednesday in a choppy session after the latest meeting minutes from the Federal Reserve showed most policy makers expect a slower pace of interest rate hikes will “soon be appropriate”, even if they are uncertain how high the benchmark rate will rise.
Broad market indices did better than the Nifty even as the advance decline ratio improved.
Release of US Fed meeting minutes has raised hopes of milder rate increases going ahead.
Nifty could trade in the 18,179-18,344 band for the near term with dip buying seen to be prevalent. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty moving up further, further upsides are likely once the immediate resistance of 18,325 is taken out. Weakness could emerge if the support of 18,251 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended higher on Tuesday as Wall Street continued to expect the Fed to downshift their tightening pace next month.
Nifty snapped a three-day losing streak and ended in the positive on Nov 22 nd aided by encouraging global cues.
Nifty recovered on Nov 22nd, as expected and could rise some more.
The next resistance for Nifty is the 18,273-18,308 band while 18,133 could offer support on falls in the near term. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty bouncing back, further upsides are likely once the immediate resistance of 18,226 is taken out. Weakness could emerge if the support of 18,137 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished lower on Monday for the third time in the past four trading sessions, as a fresh round of COVID-19 shutdowns in China rattled investors.
Nifty could now take support of 18,103 and bounce up a bit.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite lower US markets on Monday. Listen to the D-Street Details with Devarsh Vakil.
US stocks ended with a slight gain on Friday after shrugging off Federal Reserve warnings. Cues from the US Fed members hinting at continued rate hikes on Thursday pricked sentiments globally. Nifty could now find support at the 18,044-18,103 band while 18,409 could act as a resistance in the near term. Indian markets could open lower, in line with mostly lower Asian markets today and despite mildly higher US markets on Friday. Listen to the D-Street Details with Devarsh Vakil.
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With the Nifty breaking its recent supports, the short-term trend is now down. Further downsides are likely once the immediate support of 18,220 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended lower on Thursday to log their first back-to-back losses in two weeks.
The pound dropped after Chancellor Jeremy Hunt outlined a £55 billion ($65 billion) package of tax rises and spending cuts even as the economy slid into recession.
Japan’s core consumer price index for October rose 3.6% compared to a year ago, higher than expected and at the fastest pace in 40 years.
As expected, Nifty fell and could remain in the 18,259-18,442 band.
Indian markets could open flat to mildly higher today. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up. Further upsides are likely once the immediate resistance of 18,418 is taken out. Weakness could emerge if the support of 18,350 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished lower on Wednesday following a big profit miss at a big-box retailer Target.
Nifty is witnessing narrow range trade over the last four sessions with the close over these days being in an 80-point band. Nifty could trade in the 18,458-18,179 band for the near term.
Indian markets could open mildly lower, in line with largely negative Asian markets today and lower US markets on Wednesday. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up. Further upsides are likely once the immediate resistance of 18,442 is taken out. Weakness could emerge if the support of 18,354 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks closed higher on Tuesday, but off the session’s best levels. The Dow turned negative earlier in the session after the Associated Press reported that Russian missiles crossed into Poland and killed two people, ratcheting up geopolitical tension given Poland is a NATO country.
Nifty recovered well on Nov 15th from the morning weakness. Nifty could now face resistance in the 18,458-18,543 band while 18,259-18,282 band could offer support in the near term.
Indian markets could open flat to mildly lower, in line with mixed and rangebound Asian markets today. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up. Further upsides are likely once the immediate resistance of 18,378 is taken out. Weakness could emerge if the support of 18,282 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished near session lows after giving up all of their earlier gains on Monday.
Today is last day for Q2FY23 results and markets could then focus on overall sentiments vs stock specific action. Nifty could take support from 18,202-18,259 band while 18,399 could offer resistance in the near term.
Indian markets could open mildly higher, in line with largely positive Asian markets today. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the near-term trend remains up. Further upsides are likely once the immediate resistance of 18,399 is taken out. Weakness could emerge if the support of 18,318 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks ended higher on Friday, with the technology-heavy Nasdaq Composite scoring its biggest weekly gain since March
For the week, the Dow rose 4.1%, the S&P 500 gained 5.9% and the Nasdaq jumped 8.1%.
The MSCI emerging markets index jumped 5.19%, in its biggest single-day surge since March.
Nifty rose sharply on Nov 11, hitting fresh 52-week highs post the soft CPI data coming out of the US.
Nifty could now rise towards the 18,458-18,604 band in the near term while the 18,179-18,255 band could provide support. Listen to the D-Street Details with Devarsh Vakil.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
With the Nifty breaking out to new highs, the near-term trend remains up. Further upsides are likely once the immediate resistance of 18,349 is taken out. Weakness could emerge if the support of 18,282 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks finished sharply higher on Thursday, logging their biggest single-session rally in more than two years on data suggesting inflation may be peaking.
India’s IIP is seen rising to 2.3 percent in September. The data is due this evening.
Triggered by the gains in the US markets overnight, Nifty may rise to 18,342-18,410 band. Listen to the D-Street Details with Devarsh Vakil.
With the Nifty breaking its near term supports, the near-term trend is down. Further downsides are likely once the immediate support of 17,973 is broken. Catch the mid-market details with Subash Gangadharan.
US stocks finished sharply lower, near session lows on Wednesday.
Investors also have been monitoring a fresh crypto wobble.
FPI buying seems to have thinned out at higher levels.
On rises, Nifty could face resistance at 18,296-18,350 band while 17,910 could offer support on downmoves.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Wednesday. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,203 is taken out. Further weakness could emerge if the support of 18,167 is broken.
US equity markets rose and the dollar slid on Monday as investors embraced the idea that China may ease COVID restrictions.
Over the past three trading days, the Dollar Index is down 2.5%, and is now at its lowest level since Sept. 20th. This helps push up prices of metals and precious metals.
Indian markets could open higher, in line with gains made by the Asian and US markets over two days. Nifty now face resistance from the 18,342-18,500 band in the near term. Listen to the D-Street Details with Devarsh Vakil.
While the Nifty has corrected from the highs, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,160 is taken out. Further weakness could emerge if the support of 18,078 is broken. Catch the mid-market details with Subash Gangadharan.
U.S. stocks closed sharply higher Friday, as investors weighed the jobs report for October.
Midterm U.S. elections will be held on Tuesday where Republicans could win control of one or both chambers and lead to deadlock on fiscal policy.
Positive market sentiment earlier Friday may have been influenced by speculation linked to China. There’s some rumor that the potential exists from their zero-COVID policy, which is why China rallied so strongly.
17,899 could be a support for the Nifty while 18,287 could be a resistance for the near term.
Indian markets could open mildly higher, in line with largely positive Asian markets today and sharply higher US markets on Friday.
While the Nifty has corrected from the highs, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,108 is taken out. Further weakness could emerge if the support of 18,017 is broken.
U.S. stocks ended a choppy session lower on Thursday and extended a losing streak to four sessions.
Markets are more concerned with the ultimate level of rates rather than the pace of tightening.
In Europe, the Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rises in three decades. The Bank of England told investors to rein in expectations for hikes, which saw the pound slump.
Nifty fell for the second consecutive session on Nov 3rd following negative global cues.
Nifty could now face resistance in the 18,106-18,145 band while 17,838-17,899 band could offer support in the near term.
Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Thursday.
While the Nifty has corrected, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,106 is taken out. Further weakness could emerge if the support of 17,959 is broken.
While the Nifty has corrected, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,179 is taken out. Weakness could emerge if the support of 18,066 is broken.
U.S. stocks posted back-to-back losses on Tuesday.
Asian stocks were mixed on Wednesday following declines in US shares.
Nifty has formed a doji after a rise suggesting indecision after a rise.
On upmoves, 18,287 could offer resistance while 18,022 could offer support.
Indian markets could open flat, in line with mixed and rangebound Asian markets.
With the Nifty rallying further, the short-term trend remains up. Further upsides are likely once the immediate resistance of 18,176 is taken out. Weakness could emerge if the support of 18,060 is broken.
The Dow finished with its best October performance ever on Monday. The US Fed, which begins its two-day meeting on Tuesday, is expected to deliver a fourth straight 75-basis-point rate hike on Wednesday in its attempt to tame inflation. Investors will also focus on the communication of the outlook. Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from Wall Street overnight. Nifty crossed the 18,000 level with an upgap. It could now face resistance at the 18,115-18,228 band while 17,811 could offer support. Indian markets could open higher, in line with higher Asian markets today and despite negative US markets on Monday.
The intraday trend of Nifty is positive. Index would continue the positive momentum towards 18,000 or higher levels. The level of 18,000 is a psychological resistance. Intraday support is placed at 17,935. Key resistances are placed around 18,000 – 18,050 levels.
Nifty rose for the second consecutive session on Oct 28th after a see-saw session. At close, Nifty was up 0.28% or 49.9 points at 17,786.8. We have a data heavy week ahead. The US Fed’s policy committee meets on Tuesday and Wednesday and is widely projected to lift its target rate by three-quarters of a percentage point for a fourth-straight time, to 3.75%-4%. The week closes with the US October jobs report. We also have the PMI numbers from India, Core Infra growth numbers from India and RBI MPC policy meet outcome on Nov 03rd. Nifty moved above the high-low range of the previous three sessions on Friday and closed at the highest in more than 5 weeks. Sectoral rotation is keeping the Nifty afloat in volatile times. Global cues remain positive, but Nifty is participating in a restricted manner on the upside. On a weekly basis, Nifty gained 1.20%, building on the gains of the previous week. Nifty could now head towards 17,838-17,919 band in the near term while 17,568-17,637 band could offer support.
After showing a positive opening, Nifty extended the rise above previous day’s and also the recent intraday swing high. From the highs, index shifted into minor correction and wiped out more than 90% of the day’s gain. The intraday trend of Nifty is mildly negative. Index is consolidating with range bound action and it may continue for rest of the day in the range between 17,840 to 17,720 levels.
The RBI has announced an additional meeting of the Monetary Policy Committee on Nov. 3rd. The meeting would be convened under Section 45ZN of the RBI Act, which spells out the course of action by the central bank if it fails to meet the inflation target, according to an RBI statement.
Nifty rose in the closing minutes of trade on Oct 27 which was a monthly F&O expiry day. At close, Nifty was up 0.46% or 80.6 points at 17,736.9.
Nifty bounced up after a one-day decline. Nifty could now face resistance in the 17,812-17,839 band while 17,637-17,655 band could provide support.
After showing a positive sign in the opening, Nifty witnessed gradual selloff from high of the day. Index may recover in the second off on the back of derivative expiry. Intraday support is placed at 17,650. Next upside levels to be watched around 17,750 levels.
Global equities advanced on Thursday as Chinese shares extended a rebound and US stock futures overcame earnings worries from tech giants.
Nifty fell on Oct 25, breaking a 7-day winning streak, weighed down by mixed global cues. At close Nifty was down 0.42% or 74.4 points at 17,656.40.
Nifty fell on the 8th day of the upmove filling the upgap made on the previous session. Post the gains made in markets abroad, Nifty could continue its uptrend towards 17,837-17,919.
On the Muhurat trading day (Oct 24), benchmark indices ended on a strong note with the Nifty finishing above 17,700 (up 0.88% at 17,730.8). Nifty logged its best Muhurat trading session since 2008, aided by broad based gains across sectors led by industrials, financial services, information technology, banking, capital goods stocks.
Nifty rose with an upgap on Monday but ended with a doji, suggesting indecision at higher levels. A minor reversal seems to be on cards. Nifty could trade in the 17,670-17,816 band for the near term.
U.S. stocks finished lower for a second day on Thursday, erasing their earlier gains despite a strong start to the third-quarter earnings season, as Treasury yields rose to fresh multiyear highs. Nifty ended higher on Oct 20th for the 5th consecutive session after a last hour recovery led it to a positive close. Nifty could now remain in the 17,434-17,642 band for the near term.
Nifty opened today with a downside gap. After opening, Nifty filled the gap during the first few hours and began correcting back towards its previous low of 17,421.
Equities were initially buoyed on Wednesday by a well-received update from Netflix Inc. late Tuesday, that cemented the impression that the third-quarter earnings season would support the market.
However, positive news on company earnings was offset by a renewed rise in bond yields and a poorly received US 20-year Treasury auction. The US two-year yield jumped to the highest since 2007. This helped push the U.S. 10-year US Treasury yield to its highest level since July 2008, advancing 13.1 basis points to 4.127%.
Nifty rose for the fourth consecutive session on Oct 19th but closed muted as the Rupee touched a new low vs the USD.
17,608-17,312 could be the band for the Nifty in the near term.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Wednesday.
After showing an upside bounce from the lows on Tuesday, Nifty witnessed upmove so far today. Intraday support is placed at 17,480 level and resistance is placed at 17,620 level.
U.S. stocks finished higher for the second day in a row on Tuesday as investors celebrated another batch of robust corporate earnings reports.
Nifty rose for the third consecutive session on Oct 18th aided by positive overnight cues.
Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite positive US markets on Tuesday.
After showing an upside bounce from the lows on Monday, Nifty witnessed sharp upmove so far today. Intraday support is placed at 17,425.
All three major U.S. stock indexes finished higher on Monday, giving the Nasdaq Composite its biggest one-day percentage gain since July,
The S&P 500 closed above a key technical level, bolstering global market sentiment.
Stocks in Asia rebounded as UK reversed more of its unfunded tax cuts.
Nifty rose for the second consecutive session on Oct 17th. At close, Nifty was up 0.73% or 126.1 points at 17,311.9.
Nifty filled the upgap made on the previous day due to the weakness in early morning but closed much higher. Next resistance could come in at 17,497-17,532 band while support could come in at 17,142-17,170 band.
Indian markets could open higher, in line with mostly higher Asian markets today and sharply positive US markets on Monday.
After showing weakness from intraday highs on Friday, Nifty shifted into a sustainable upside as of now. Immediate resistance is placed at 17,340.
Global cues continue to be choppy while individual company results may result in stock specific moves.
Over a 3-week period, Nifty has formed a higher bottom. Once it breaches 17,429, it will also make a higher top.
An upward breach of 17,429 could result in broad based and volume led rally in the markets.
Indian markets could open lower, in line with lower Asian markets today and sharply negative US markets on Friday.
After showing weakness with volatility in the last session Nifty witnessed sharp upmove so far today. Immediate support is placed at 17,250 levels.
U.S. stocks staged a massive turnaround on Thursday, ending a six-day losing streak, after erasing an early plunge seen when the September consumer-price index came in higher than economists expected.
Nifty flattered on Wednesday to deceive once again on Thursday. Nifty has formed a triple bottom over the past three days in the 16,950-16,960 band. Post the return of positive sentiments across the globe, on upmoves, Nifty could now face resistance at 17,262 and then at 17,429.
Indian markets could open sharply higher, in line with higher Asian markets today and sharply positive US markets on Thursday.
The alternative movement like one day up and down continued in the market. After showing a sustainable upside bounce in last session, Nifty slipped into weakness so far today. Immediate support is placed at 16,950.
U.S. stock indexes ended a volatile session slightly lower on Wednesday after hotter-than-expected producer price inflation data.
Traders are awaiting U.S. September consumer prices data on Thursday due at 8:30 a.m. Eastern Time. The September CPI reading, which tracks changes in the prices paid by consumers for goods and services, is expected to show an 8.1% rise from a year earlier.
Nifty made a near double bottom on Oct 12th compared to the previous session. It now has a chance to recoup part of the losses seen in the previous 3 sessions. 17,217-17,287 could be the next resistance for the Nifty while 17,064 could be the support.
Indian markets could open mildly lower, in line with mostly negative Asian markets today and mildly lower US markets on Wednesday.
After showing a sharp weakness in the last session, Nifty shifted into a decent upside bounce as of now. Intraday resistance is placed around 17,150-17,180 levels for the day.
U.S. stocks ended a choppy session mostly lower on Tuesday, with the Nasdaq Composite closing at its lowest in more than two years. Asian stocks stayed at two-year lows on Wednesday.
Indian markets fell for the third consecutive day, below the psychologically important 17,000 level.
Indicators and oscillators have turned bearish on the short-term charts.
Below 16,900, Nifty could drag towards next support of 16,747 in the near term. Resistance for Nifty has shifted down to 17,280 levels.
After showing a sustainable upside recovery from the lows in last session, Nifty shifted into a consolidation so far today. Immediate support is placed at 17,100.
Major indexes finished lower for a fourth consecutive session on Monday as concerns about additional rate hikes by the Fed continued to damp sentiment.
Nifty could stay in the 17,102-17,337 band for the near term.
Indian markets could open flat to mildly lower, in line with mildly negative Asian markets today and lower US markets on Monday.
After showing a consolidation pattern with weak bias on Friday, Nifty slipped into a sharp weakness with volatility as of now. Immediate resistance is placed around 17,270-17,300 levels.
The strong non-farm payroll report for September led to a sell-off in US markets anticipating hawkish rate moves from the US Fed.
The first batch of Q2 Indian corporate results will also start from the coming week and provide triggers for stock specific action.
17,026-17,497 could be the range for the Nifty in the coming week.
Indian markets could open lower, in line with negative Asian markets today and sharply lower US markets on Friday.
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After showing weakness from the hurdles of 17,400 levels in the last session, Nifty slipped into weakness amidst range movement so far today. Immediate support is placed around 17,180-17,150 levels.
U.S. stocks closed lower on Thursday after another volatile session as traders reacted to data showing a sharper-than-expected rise in unemployment claims
Nifty needs to stay above 17,287 for the next few days to validate bullish chart patterns. On upmoves it could face resistance at the 17,484-17,497 band while 17,287 could offer support.
Indian markets could open flat, in line with mixed Asian markets today and despite mildly negative US markets on Thursday.
The upside momentum continued in the market so far today amidst volatility. Immediate support is placed at 17,350-17,300 levels.
Both the Dow and S&P 500 had notched their strongest advance in the first two days of any quarter since the second quarter of 1938.
Oil futures ended Wednesday at their highest price in three weeks after OPEC+ agreed to reduce output by 2 million barrels a day and U.S. data revealed a second straight weekly decline in crude supplies.
Nifty smartly broke out upwards after sideways consolidation. It will now face resistance in the 17,291-17,484 band while 17,176-17,196 band will offer support in the near term.
Indian markets could open higher, in line with mostly positive Asian markets today and gains made in US markets on Tuesday.
Nifty witnessed sharp up move as of today after a weakness of previous session. Currently facing resistance around 17,200-17,300 levels.
Wall Street's three major indexes rallied to close over 2% on Monday as U.S. Treasury yields tumbled.
Nifty continued its downmove on Oct 03rd after a one day reprieve on Friday. At close, Nifty was down 1.21% or 207 points at 16,887.4.
Nifty now has support on the downside at 16,747. On upmoves, 17,114 and later 17,291 could offer resistance.
After showing sharp up move on Friday, the market shifted into a consolidation with weak bias. Immediate support is placed at 16,900-16,950 levels.
U.S. stocks dropped sharply on Friday, with major indexes posting their lowest finishes since 2020 and logging a third straight quarterly decline as investors grew more fearful that aggressive interest rate hikes by the Federal Reserve will drive the economy into a downturn in an attempt to quell inflation. Shares in the Asia-Pacific mostly fell on Monday as markets enter the last quarter of the year. Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Friday. 16,752-16,794 band could provide support.
U.S. stocks ended sharply lower on Thursday, with the S&P 500 sliding to another 2022 low, while heavy losses for Apple Inc. and other tech-related stocks. Asian stocks dropped on Friday in the wake of another plunge on Wall Street Sept 30th is the month and quarter end and also the 8th day in the series of fall. Nifty has a fair chance to break the falling streak on Sept 30th. 16,653-16,752 remains a crucial support band for the Nifty while 17,026 remains a resistance.
Supports for the Nifty are seen at 16,773 and 16,688 levels. Resistances for the Nifty is seen at 16,905 and 16,990. Dow Futures is trading with the loss of 345 points.
U.S. stock indexes on Wednesday rebounded from 2022 lows with support from a sharp fall in Treasury yields and a surprise intervention from the Bank of England in the U.K. government bond market.
The Bank of England said that it was stepping into buy unlimited amounts of long-dated bonds to help stabilize markets.
Nifty continued its downmove on Wednesday. However a bounce in other markets could be mirrored by the Indian markets in the near term. On upmoves 17,038 could offer resistance.
Indian markets could open higher, in line with positive Asian markets today and sharply higher US markets on Wednesday.
Previous Resistance of 16,800 could now act as a support for the Nifty and today’s low is also coinciding with 200 days EMA support. On the upside 17,150-17,200 is the strong resistance zone. Any decisive level above 17,200 or below 16,800 would decide further trend of the Nifty.
The S&P 500 index closed at its lowest level in nearly two years Tuesday with only the Nasdaq Composite escaping a daily loss.
Chicago Fed President Charles Evans said the central bank will need to raise rates by at least another percentage point this year.
The net direct tax collection in India increased by 23 percent to Rs 7.04 lakh crore so far this fiscal as announced by the income tax department. This is great news and it will help in reining in fiscal deficit.
Nifty took support from the upgap of 16,947 and closed flat after making a lower low compared to the previous day. Nifty needs to close above 17,196 for confirmation of upward reversal. On falls, 16,942 will be watched closely.
After showing sharp weakness in the last couple of sessions, Nifty shifted into a positive note with high volatility. Immediate support is placed at 16,950.
The Dow Jones Industrial Average finished in a bear market on Monday for the first time in more than two years as investors fretted over a combination of interest-rate, currency and economic risks. Stocks came under pressure this Monday on worries about rising borrowing costs, while the surging dollar continued to wreak havoc around the world.
Global bonds are now in their first bear market in 76 years, after having dropped 20% from their peaks.
Nifty has broken the important support of 17,166. 16,947 and 16,794 are the next supports for Nifty while 17,166 could be the resistance in the near term. After steep losses over the last few sessions, a short term bounce is due anytime.
Indian markets could open flat to mildly positive, despite mostly negative Asian markets today and lower US markets on Monday.
Rate sensitives like Auto, NBFC, Banks and real estate could continue to underperform. While defensives like IT, Pharma and FMCG could outperform in today’s trade. Trend has turned bearish for the markets. Rallies should be utilized to lighten the long commitments.
U.S. stocks closed sharply lower on Friday, ending at its lowest closing value since November 2020. Nifty fell sharply for the second consecutive week (down 1.16%), breaking some key technical levels on the way. 17,166 is the next support for the Nifty post which a sharper fall could ensue. 17,490 could be the resistance for the Nifty in the near term. Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Friday.
Nifty has now confirmed bearish lower top and lower bottom formation on the daily charts. For last 6 weeks, Nifty has been trading in the narrow range of 17,450-17,950 on weekly closing basis. Intraday support for the Nifty is seen at 17,365 odd levels, where 50 days EMA is placed. Resistances for the Nifty are seen at 17,532 and 17,628.
U.S. stocks ended lower on Thursday after failed attempt to claw back Wednesday’s losses, as Treasury yields and the dollar climbed further.
Market players were already jittery after a number of companies - most recently FedEx Corp and Ford Motor Co-issued dire outlooks for earnings.
The Indian rupee dropped to a record low versus the U.S. dollar on Thursday.
The level of 17,430 is an important support level for Nifty. Any move below 17,430 will confirm lower top and lower bottom formation which would be considered bearish. On the higher side, 17,920 is a crucial resistance and unless that is taken out, aggressive longs should be avoided.
Indian markets could open lower, in line with negative Asian markets today and lower US markets on Thursday.
BankNifty is on the verge of breaking 5-day’s low support placed around 40,500. Below 40,500, BankNifty could move towards next support of 39,780. Below 17,429, Nifty would confirm lower top and lower bottom formation, which will be bearish for the short term.
U.S. stock indexes finished sharply lower on Wednesday after see-sawing between gains and losses as the Federal Reserve announced another expected sharp interest rate increase and signaled a higher-than-expected peak for rates.
President Vladimir Putin on Wednesday ordered Russia's first mobilization since World War Two calling 300000 reservists.
Nifty has been consolidating in the narrow range of 17,429-18,092 for the last several sessions. Any decisive breakout from this range would give directional move to the Nifty. Indian markets could open lower, in line with negative Asian markets today and lower US markets on Wednesday following the US Fed rate hike.
After showing intraday weakness from the highs, Nifty slipped into weakness so far today. Immediate support is placed at 17,650-17,620 levels.
U.S. stocks finished lower on Tuesday as Treasury yields climbed. Traders appeared skittish about opening new long positions ahead of the Federal Reserve’s September policy meeting. The meeting started Tuesday and will conclude on Wednesday. Will the Fed decision on Wednesday once again be followed by stock-market gains on that day? The previous four times the Fed raised interest rates in 2022 — March 16, May 4, June 15 and July 27 — the S&P 500 rallied 2.2%, 3%, 1.5% and 2.6%, respectively on the same day.
Short term support for the Nifty is seen at 17,541, which happens to be the upgap support. Resistance for Nifty is seen at 17,919.
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Tuesday.
Trend of the Market is likely to remain bullish in today’s session. Intraday resistances for Nifty are seen at 17,953 and 18,048. Supports are seen at 17,810 and 17,716.
U.S. stocks found their footing in the final hour of trading on Monday., after flipping between gains and losses.
Investors prepared for a Federal Reserve meeting (that ends on Wednesday) that’s expected to deliver another large interest-rate hike
A rate hike of three-quarters of a point is expected, and attention will be put on the accompanying dot plot of rate projections.
A rally in megacaps like Apple Inc. and Tesla Inc. drove the rebound.
Nifty managed to close above the upward sloping trend line adjoining the daily lows of 20th Jun and 1st July 2022. Resistance for the Nifty are seen at 17,760 and 17,826.
Indian markets could open higher, in line with positive Asian markets today and higher US markets on Monday.
Above 17,670, Nifty could extend the gain towards 17,734 and 17,820. Intraday supports for Nifty are seen at 17,580, 17,500 and 17,430. Stock specific bullish moves is likely to continue.
U.S. stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx.
FedEx shares plunged 21.4% after the global shipper and economic bellwether late Thursday withdrew its annual outlook
Nifty ended sharply lower for the second consecutive session on Sept 16th pulled down by weak global cues. It was the highest percent fall since June 16, 2022.
On upmoves, 17,771 may be difficult to breach in the near term.
Indian markets could open flat, despite mostly lower Asian markets today and negative US markets on Friday.
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Breadth of the market is weak, with 1:3 advance decline ratio at NSE. Bias for the day is negative and next support for the Nifty is seen at 17,500, which happens to be its 34 days EMA.
U.S. stocks closed lower on Thursday with technology stocks leading the way down, as bond yields marched further ahead. S&P 500 futures fell further after the close as FedEx withdrew its financial forecast and added to worries about a slowing global economy.
The yield on the US 2-year Treasury note climbed for a sixth straight trading session on Thursday, reaching its highest level since October 2007.
Oil futures tumbled more than 3% on demand concerns.
18,096-17,692 could be the band for the Nifty in the near term.
Indian markets could open lower, in line with mostly weaker Asian markets today and negative US markets on Thursday.
Today is a weekly expiry session of the Index options. Till now in the September series Indian markets have remained resilient. A level of 18,100 has become strong resistance for Nifty and unless we see move above that, aggressive longs should not be taken. On the downside, Nifty has got support at 17,700, below which, weakness could extend.
U.S. stocks ended slightly higher on Wednesday after swinging between gains and losses for much of the session.
Nifty opened gap down on Sept 14th but showed remarkable recovery to wipe off most of the losses.
Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and mildly positive US markets on Wednesday.
Breadth has significantly recovered post opening of the markets. Today’s open and low is same at 17,771, which indicates bullish sentiments for the day.
The Federal Reserve is likely to raise U.S. borrowing costs faster and further than previously expected after data on Tuesday showed underlying inflation broadening out rather than cooling as expected. The Dow Jones closed nearly 1,300 points lower Tuesday as technology stocks led the market to its worst day since June 11, 2020, the dollar index rose 1.5% in its biggest one-day percentage gain since March 19, 2020 to 109.88, close to the highest level in two decades. The fact that the US markets reacted negatively to the inflation number means that our markets could open gap down. Whether and how much it recovers from the morning lows will be crucial to watch. 17,743 could offer support in the near term.
Nifty has managed to surpass the previous swing high resistance of 17,992. Intraday supports for Nifty are seen at 18,040 and 17,980. Resistances for Nifty are seen at 18,118 and 18,200.
U.S. stocks finished with a fourth consecutive day of gains on Monday, handing the S&P 500 and Nasdaq Composite their longest winning streak in two months. Asian equities extended the global rally in risk assets amid speculation Tuesday’s US consumer price data will support bets that inflation there is near peaking. Nifty could face resistance at 18,115 while 17,807 could act as a support in the near term. Indian markets to open higher, in line with higher Asian markets today and positive US markets on Monday.
Nifty is on the verge by surpassing the previous top resistance of 17,992. Above 17,992, Nifty has got resistances at 18,050 and 18,128. Intraday support for Nifty is seen at 17,910.
Inflows into equity mutual funds in India fell to the lowest in 10 months even as the stock benchmarks rallied. Looking ahead, markets will be focused on the August US consumer-price index due Tuesday, which is seen as one of the key reports before the Sept. 21st Fed rate decision. India’s CPI number due on Monday will also be keenly watched. A close above 17,992 for Nifty would result in a fresh trend breakout that could bring more bullish momentum with 18,115 being the next resistance. Support has now shifted up to 17,484 levels.
Breadth of the markets has gradually turned negative after strong opening. Nifty intraday supports are seen at 17,766 and 17,724, while resistance for the same are seen at 17,881 and 17,925.
Wall Street stocks initially fell in the wake of Federal Reserve Chair Jerome Powell’s comments but then reversed course to end with solid gains, helped by rate-sensitive banks and healthcare company shares. The European Central Bank hiked interest rates by 75 basis points and signaled that more jumbo-sized rate hikes would likely follow. India (which accounts for 40% of the global rice trade) on Thursday imposed a 20 percent duty on exports of various grades of rice. Nifty broke above the recent high of 17,777 easily. Now the next tough resistance is 17,992. On falls, 17,651 could be the support. Indian markets could open higher, in line with higher Asian markets today and positive US markets on Thursday.
Sustainable level above 17,778, would be considered fresh breakout in Nifty. Intraday support for Nifty is seen at 17,688, while resistance for the same is seen at 17,855.
U.S. stocks finished sharply higher on Wednesday, with all three benchmarks posting their best day of gains in about a month. The Bank of Canada lifted its overnight target rate by three-quarter percentage points to 3.25%, following a surprise increase of a full percentage point in July. The European Central Bank could lift rates as much as 75 basis points on Thursday. Nifty is looking for direction over the past few days and has outperformed the other countries by recovering from lows – whether intra day or otherwise. Nifty could face resistance at 17,777 while 17,468 could provide support in the near term. Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Wednesday.
Sustainable level below 17,450 would result in fresh break down in Nifty index. However, on the upside 17,778 is the positional resistance, above which uptrend would resume. Catch complete mid-market details with Vinay Rajani.
Nasdaq Composite clinched its longest losing streak in six years falling for 7 consecutive sessions. The ICE U.S. Dollar Index was back above 110, right around its strongest level in two decades. Nifty formed a high wave doji candle suggesting indecision after a rise. Nifty could remain in the 17,402-17.777 band for the near term. Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Tuesday. Listen to the D-Street Details with Devarsh Vakil.
Nifty witnessed sustainable upside recovery after showing weakness in the early mid part of the session. Immediate resistance is placed at 17,780-17,800 levels. Catch complete mid-market details with Nagaraj Shetti.
US Markets were shut on Monday for the LABOUR DAY HOLIDAY, European stocks slumped, the euro fell below 99 cents for the first time in twenty years and natural gas skyrocketed after Russia said it was cutting off gas supplies through the Nord Stream 1 pipeline indefinitely. China's announcement of a cut in the number of foreign-exchange deposits banks must set aside as reserves helped sentiments in Asia. Nifty broke out nicely of the two-day range move. Nifty could stay in the 17,778-17,476 band for the near term. Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today. This and much more in our Daily Morning Podcast. Listen and Share.
A monthly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Nifty has got strong resistance at 17,800 odd levels, above which it would resume medium term uptrend. Intraday supports for Nifty are seen at 17,630 and 17,553, intraday resistance is seen at 17,720.
Russia’s Gazprom wouldn’t reopen a natural gas pipeline to Europe on Saturday appeared to weigh on global stock-market sentiments. Nifty needs to break out of the 17,401-17,778 band for further cues on directions. However, it will keep finding it difficult to sustain gains. US markets are shut today due to the labour day holiday. Indian markets could open flat to mildly lower, in line with mixed Asian markets today and lower US markets on Friday.
Nifty is currently trading within the range of last two trading sessions. Nifty is likely to trade in range of 17,400 to 17,700 for the short term.
U.S. stocks finished mostly higher and snapped four-day losing streak, while the Nasdaq Composite recorded its longest losing streak since February. Global bonds as a whole slumped into their first bear market in a generation. Moody's slashed its forecast for the world's top 20 economies to 2.5% growth from 3.1%, while Fitch acknowledged the euro zone was now set for recession. Nifty failed to build on the large gains made on the previous session. Global sentiments have been able to halt the rallies in India over the past few weeks, though the broader market seems positive. 17,696-17,345 could be the band for the Nifty in the near term.
Nifty has got strong support at 17,500 odd levels, while 17,700 could act as a resistance. Markets are expected to remain stock specific bullish in today’s session.
U.S. stocks ended lower on Wednesday cementing the weakest August performance in seven years as sluggish job growth in the private sector and anxieties about a looming recession following Chair Powell’s Jackson Hole speech drove major indexes to their fourth straight losing session. Dow finished August down 3.9%, while the S&P 500 brought its loss for the month to 4.2%. The Nasdaq posted a monthly drop of 4.6%. Indian markets could open sharply lower, in line with lower Asian markets today and lower US markets on Tuesday and Wednesday.
With the Nifty bouncing back sharply, traders will need to watch if the Nifty can now cross the recent swing highs of 17,727 for further upsides. Immediate supports are now at 17,519.
U.S. stocks finished with back-to-back losses on Monday, handing Dow industrials an almost 1,193-point loss in the past two trading days. Crude Oil was trading near the highest since late July. Potential production outages in Libya could exacerbate a global energy crunch. Our markets could open in the positive, in line with mostly higher Asian markets today and despite lower US markets on Monday.
With the Nifty moving sharply lower, the short term trend is now down. Further downsides are likely once the immediate support of 17,166 is broken.
U.S. stocks tumbled Friday. Global especially Asian shares are sliding. Indian markets could get impacted by the turn in global sentiments and as more investors turn risk averse ahead of the historically down month of September. However, the intensity and amount of fall in India will be limited as its economy may not be linked fully with the happenings in the US economy. A breakout above/below 17,727-17,133 will determine the short term direction of the Nifty going forward. Indian markets could open sharply lower, in line with negative Asian markets today and sharply lower US markets on Friday.
While the Nifty has moved higher, it is now stuck in a range between the 17,480-17,750 levels. Further directional cues are likely to emerge on a move beyond this range.
Traders and investors across the globe are waiting for the Federal Reserve Chairman Jerome Powell at Jackson Hole. Good news for banking Stocks - Bank credit growth in India accelerated to 14.2 percent in the quarter ended June 2022 from 6 percent in the same period of the previous year, RBI data showed on Thursday. Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Thursday.
The Nifty has moved higher and broken out of its recent trading range. Further upsides are likely once the immediate resistance of 17,717 is taken out. Weakness could emerge if the support of 17,637 is broken.
Fed Chair Powell is due to make a speech at 10 a.m. ET of USA time (7:30 PM IST) on Friday at the Jackson Hole symposium. China stepped up stimulus with a further 1 trillion yuan ($146 billion) of measures. Nifty remained in a very small range through the day and could not breach the high of the previous day. Once that level i.e., 17,626 is breached, more upsides could be in store in this up move.
The Nifty has bounced back from the lows. Further upsides are likely once the immediate resistance of 17,624 is taken out. Weakness could emerge if the support of 17,499 is broken.
Natural-gas prices traded at a 14-year high as a European energy crisis loom. U.S. new home sales plunged to the lowest level in more than six years. The S&P Global U.S. flash PMI at a 25-month low, while the services sector PMI at a 27-month low. In our market action was seen more in the broader markets. This and much more in our Daily Morning Podcast.
The Nifty has bounced back from the lows. Further upsides are likely once the immediate resistance of 17,589 is taken out. Weakness could emerge if the support of 17,345 is broken.
Worst daily drop in two months for US stocks. Chinese Yuan to a 23-month low. Nifty seems to have begun a short-term correction.
The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,544 is broken.
While world central bankers around the world are raising rates. Why China is cutting rates… Nifty snaps 8 day winning streak. U.S. stocks ended lower Friday, with the S&P 500 and Nasdaq Composite each snapping four-week win streaks, as more than $2 trillion equity-linked options expired. Amazon.com, Apple and Microsoft all fell and were the biggest drags on the S&P 500 and Nasdaq.
The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,727 is broken.
Nifty made a double top compared to the previous session but ended marginally higher. Large volumes and range moves mean that a lot of churning seems to be happening between sectors and stocks. With no reversal signs on the horizon, Nifty could rise towards 18,115 over the next few sessions. On the other hand, a breach of 17,833 could mean faster downsides. Indian markets could open flat to mildly lower, in line with mixed but rangebound Asian markets today and mildly positive US markets on Thursday.
The Nifty has moved lower today. Further downsides are likely once the immediate support of 17,852 is broken.
Indian markets are less than 4 percent off their lifetime highs. Nifty continues its relentless rise and is currently outperforming global markets. The current uptrend is mature, and one should be careful in loading up new positions - though there are no signs of reversal. On upmoves 18,114 could act as a resistance while 17,719 is a support. Indian markets could open flat to mildly lower, in line with largely negative Asian markets today and lower US markets on Wednesday.
The Nifty has moved higher today. Further upsides are likely once the immediate resistance of 17,941 is taken out.
A rally in retailer shares drove the US markets to a fifth day of gains on Tuesday. Nifty rose on Aug 16th, rising for six days in a row, equalling the longest winning streak in 2022. Sentiments have improved across the board post encouraging macro news locally. Indian markets could open flat to mildly higher, in line with mixed and rangebound Asian markets today.
Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week's rally on Wall Street. Nifty rose for the third consecutive session on July 29th helped by positive global cues and return of FPI buying. Nifty closed 1.35% or 228.7 points higher at 17,158.30. Nifty rose 2.62% for the week and 8.73% for the month (recouping the losses of the previous two months and recording the best monthly gain after Nov 2020).17,442-17,640 could be the next resistance band for the Nifty while 16,752 could be the support. Indian markets could open flat, in line with rangebound Asian markets today.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Subash Gangadharan.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel (Senior Analyst- Commodities)
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
A monthly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetti
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Listen to the 'Weekly Outlook on Gold' Podcast and get the golden insights to start your week by Tapan Patel
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Vinay Rajani.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetty.
A weekly wrap-up of currency markets. Check out the podcast on currency by Dilip Parmar.
Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.
Catch the latest market happenings in our Midmarket podcast with our expert analyst Nagaraj Shetty.