An extremely volatile session ends on a bullish note as Nifty manages to pull-off a 5-day winning streak.
Investors were seen giving a thumps-up to BJP-JDU alliance’s thumping lead in the counting of votes of Bihar Elections.
Nifty (+31, 25910)
Sensex (+84, 84563)
Bank Nifty (+136, 58518)
The undertone remains positive amidst positive catlysts:
1) Optimism over an NDA landslide victory in Bihar.
2) US–India Trade Deal Hopes.
3) US Government Shutdown has finally ended.
4) Fed Rate Cut Buzz.
5) The Wholesale Price Index (WPI)-linked inflation dropped to -1.21% in October, from 0.13% in September, according to the data released by the Ministry of Commerce and Industry on Friday.
Adv-Dec 28—22
INDIA VIX 11.93 (-1.89%)
NIFTY PCR (18th NOV) 0.80
NIFTY PCR (25th NOV) 0.97
USD/INR Futures (NOV) (+0.03%, 88.78)
SECTOR GAINERS:
NIFTY PSUBANKS (+1.17%)
NIFTY PHARMA (+0.59%)
NIFTY FMCG (+0.57%)
SECTORS LOSERS
NIFTY IT (-1.03%)
NIFTY METAL (-0.89%)
NIFTY AUTO (-0.52%)
TODAY’S MARKET RE-CAP:
1) Nifty (+0.12%) witnessed a volatile trading session and the positive takeaway is that Nifty gained for 5th-straight day.
Nifty is also above its 21 DMA (25756), 50 DMA (25324) and its 100 DMA (25154). Nifty’s 200 DMA at 24440 mark.
Please note, confirmation of strength now only above 26110 mark.
2) Bank Nifty (+0.23%) did pretty well as bullish consolidation was the preferred theme all thru the trading session and most importantly Bank Nifty ended in green for the 6th straight day and even hit a new all-time-high at 58590 mark.
3) The market breadth (28:22) was in favour of the bulls.
4) Nifty Mid-cap (+0.11%) and Nifty Small-cap (+0.38%) too ended with minor gains as well
STOCKS IN SPOTLIGHT:
1) Shares of DCB Bank hit an over five-year high at ₹177.45, as they rallied 5% on the BSE in Friday’s intra-day trade in an otherwise weak market. The stock of the private sector bank was trading at its highest level since February 2020.
Revenue from operations also soared 93.27% to ₹1,964.91 crore in Q2 FY26 versus Q2 FY25, driven by robust performance across its digital payments and e-commerce solutions businesses.
2) Adani Group said today it will invest around Rs 1 trillion in various sectors of Andhra Pradesh over the next ten years, deepening its commitment in the state where it will partner with Google for an artificial intelligence (AI) hub in Visakhapatnam.
BULLS OF THE DAY:
TMCV (+3.20%)
ETERNAL (+2.15%)
BEL (+1.60%)
AXISBANK (+1.57%)
TRENT (+1.52%)
BEARS OF THE DAY
INFY (-2.33%)
EICHERMOT (-2.27%)
TATASTEEL (-1.50%)
HDFCLIFE (-1.27%)
TMPV (-1.27%)
OUR VIEW FOR MONDAY’S TRADE
Next goal-post seen at 26100 mark for Nifty.
The positive takeaway was that Nifty gained for 5th-straight day.
Technically speaking, confirmation of major strength above 26111 mark. The gyan mantra is to stay bullish as long as Nifty 25700 support is held.
ALL ABOUT NIFTY:
Nifty (CMP: 25910)
Support: 25700/25500
Resistance: 26100/26277
Range: 25791-26025
21 DMA: 25756
50 DMA: 25324
200 DMA: 24440
Trend: Positive
BULLISH LOOKING STOCKS:
CANBK
MUTHOOTFIN
PGEL
BULLISH LOOKING STOCKS (LONG TERM):
SYRMA TECHNOLOGIES
HBL ENGINEERING
DEEP INDUSTRIES
BEARISH LOOKING STOCKS:
SRF
EICHERMOT
MPHASIS
STOCKS TO AVOID:
MAZDOCK
OFSS
RECLTD
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.