Huge long-unwinding seen in Tuesday’s session as Nifty closes below 25600 mark.
Nifty (-166, 25598)
Sensex (-519, 83459)
Bank Nifty (-274, 57827)
The benchmarks started tumbling right from the start of today’s session where there was no place to run or hide for the bulls.
Blame the fall to overnight negative Wall Street cues where Dow Jones ended on a dismal note as investors’ outlook has turned gloomy after Fed gave a murkier picture for a December rate cut.
Bottom-line: Bears slowly gaining back their strength.
Technically speaking, Nifty needs to clear 25800 mark which becomes a crucial resistance on closing basis.
Adv-Dec 09—41
INDIA VIX 12.65 (-0.16%)
NIFTY PCR (11th NOV) 0.73
NIFTY PCR (25th NOV) 0.83
USD/INR Futures (NOV) (-0.13%, 88.77)
SECTOR GAINERS:
NIFTY CONSUMER DURABLES (+0.39%)
SECTORS LOSERS
NIFTY METALS (-1.44%)
NIFTY IT (-1.06%)
NIFTY AUTO (-0.86%)
TODAY’S MARKET RE-CAP:
1) Nifty (-0.64%) started to tumble right from the word go.
However, Nifty is somehow still above its 21 DMA (25572), 50 DMA (25179) and its 100 DMA (25096). Nifty’s 200 DMA at 24353 mark.
2) Bank Nifty (-0.64%) too ended in red, falling in-line with Nifty. Bank Nifty’s new all-time-high still seen at 58577.50 mark.
4) The market breadth (09:41) was in favour of the bears.
4) Nifty Mid-cap 50 (-0.51%) and Nifty Small-cap (-0.82%) indices ended with even more losses.
STOCKS IN SPOTLIGHT:
1) Adani Enterprises, on Tuesday reported an 83.7% year-on-year (Y-o-Y) increase in its consolidated net profit (attributable to the owners) to ₹3,198 crore, from ₹1,741.75 crore in the same quarter last year. On a sequential basis, profit skyrocketed 335.5% from ₹734.41 crore.
2) SBIN reported a 6.4% year-on-year (Y-o-Y) increase in its consolidated net profit to ₹21,504.49 crore for the second quarter of FY26, compared to ₹20,219.62 crore in the same period last year.
3) Mahindra & Mahindra (M&M) posted a 28% rise in consolidated profit after tax (PAT) for the second quarter of FY26 to ₹3,673 crore, driven by strong performance in its auto and farm segments. Consolidated revenue rose 22% year-on-year to ₹46,106 crore.
BULLS OF THE DAY:
TITAN (+2.30%)
BHARTIARTL (+1.74%)
BAJFINANCE (+1.11%)
M&M (+1.00%)
HDFCLIFE (+0.92%)
BEARS OF THE DAY:
POWERGRID (-3.19%)
ETERNAL (-2.82%)
ADANIENT (-2.72%)
TMPV (-2.40%)
HINDALCO (-1.93%)
OUR VIEW FOR THURSDAY’S TRADE
After today’s debacle, staying nimble on any long positions is likely to be the preferred strategy.
Caution continues to be the buzzword.
ALL ABOUT NIFTY:
Nifty (CMP: 25598)
Support: 25351/25188
Resistance: 25800/25952
Range: 25499-25677
21 DMA: 25572
50 DMA: 25179
200 DMA: 24353
Trend: Neutral
BULLISH LOOKING STOCKS:
BRITANNIA
SBIN
POWERINDIA
BULLISH LOOKING STOCKS (LONG TERM):
BEL
CHOLAFIN
DEEP INDUSTRIES
BEARISH LOOKING STOCKS:
ADANIENT
CDSL
L&T
STOCKS TO AVOID:
HAL
DMART
CAMS
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