Nifty ends above 26000 mark ahead of FOMC Outcome tonight
NIFTY (+118, 26054)
Sensex (-151, 84628)
Bank Nifty (+171, 58385)
Not a new high though, but Nifty did manage to finally reclaim the much coveted 26000 mark and that too when, the FOMC outcome is around the corner.
The good news is that all the sectoral indices ended in green as well!
Adv-Dec 33—17
INDIA VIX 11.97 (+0.17%)
NIFTY PCR (04th NOV) 1.06
NIFTY PCR (25th NOV) 1.06
USD/INR Futures (NOV) (-0.10%, 88.36)
SECTOR GAINERS:
NIFTY OIL & GAS (+2.12%)
NIFTY METALS (+1.71%)
NIFTY MEDIA (+1.63%)
SECTORS LOSERS
NONE
TODAY’S MARKET RE-CAP:
1) Bank Nifty (+0.29%) ended on a positive note, in-line with benchmark Nifty.
2) Nifty (+0.45%) opened with a flare and managed to maintain its gains throughout the day.
Nifty is way above its 21 DMA (25382), 50 DMA (25120) and its 100 DMA (25070).
Nifty’s 200 DMA at 24304 mark.
3) The market breadth (33:17) was in favour of the bears.
4) Nifty Mid-cap 50 (+0.61%) and Nifty Small-cap 100 (+0.43%) indices ended with solid gains.
STOCKS IN SPOTLIGHT:
1) DCM Shriram Q2 profit more than doubles to ₹159 crores, revenue at ₹1,108 crores.
2) Coal India Q2FY26 results: Profit falls 32% to ₹4,262 cr, dividend declared
3) Shares of Adani Group companies were in demand with Adani Green Energy (AGEL), Adani Total Gas (ATGL) and Adani Energy Solutions rallying between 7 per cent and 14 per cent on the BSE in Wednesday’s intra-day trade backed by heavy volumes.
BULLS OF THE DAY:
NTPC (+2.90%)
ADANIPORTS (+2.69%)
ONGC (+2.61%)
POWEGRID (+2.43%)
JSWSTEEL (+2.40%)
BEARS OF THE DAY:
DRREDDY (-2.40%)
COALINDIA (-2.16%)
BEL (-1.44%)
ETERNAL (-1.18%)
M&M (-1.11%)
OUR VIEW FOR THURSDAY’S TRADE
The street will give its first reaction to tonight’s FOMC Outcome. Traders have already priced-in a 25 bps rate cut today. Moreover, bets of another rate cut in December have risen to 92% which were 73% a month ago as per CME Fedwatch Tool.
Technically, we suspect confirmation of strength above Nifty 26100 mark.
After that, Nifty will look to move past its all-time-high at 26277 mark.
Bottom-line: Happy days are here again
ALL ABOUT NIFTY:
Nifty (CMP: 26054)
Support: 25850/25701
Resistance: 26100/26277
Range: 25865-26167
21 DMA: 25382
50 DMA: 25120
200 DMA: 24304
Trend: Positive
BULLISH LOOKING STOCKS:
TATASTEEL
TATAPOWER
NATIONALUM
BULLISH LOOKING STOCKS (LONG TERM):
BEL
CHOLAFIN
GRASIM
BEARISH LOOKING STOCKS:
POLICYBZR
DRREDDY
HDFCAMC
STOCKS TO AVOID:
HAL
LUPIN
MFSL
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.