Nifty recoups intraday losses but ends the day in red. BankNifty outperforms!
NIFTY (-58, 25227)
Sensex (-174, 82327)
Bank Nifty (+15, 56625)
After a much expected gap-down start, bulls regrouped at lower levels as Nifty managed to end the day in mild red.
Earlier, the markets negatively reacted to Trumps imposition of additional 100% tariffs on Chinese goods w.e.f. November 1st 2025.
The good news is that the Indian Rupee recovered from the day’s lows to end marginally higher on Monday, even as the dollar index and crude oil prices advanced.
Long story short: Nifty’s massive recovery from lows have sparked a ray of hope in bulls camp
Adv-Dec 19—31
INDIA VIX 11.00 (+8.91%)
NIFTY PCR (14th OCT) 1.02
NIFTY PCR (28th OCT) 1.02
USD/INR Futures (Sep) (-0.07%, 88.74)
SECTOR GAINERS:
NIFTY FINANCIAL SERVICES (+0.35%)
NIFTY PSUBANKS (+0.24%)
NIFTY MEDIA (+10.11%)
SECTORS LOSERS
NIFTY FMCG (-0.90%)
NIFTY CONSUMER DURABLES (-0.84%)
NIFTY IT (-0.78%)
TODAY’S MARKET RE-CAP:
1) Nifty (-0.23%) started the week in red, breaking its 2-day winning streak.
However, Nifty its still way above its 21 DMA (25066), 50 DMA (24869) and its 100 DMA (24962)
2) BankNifty outperformed as it managed to end the day in green, thus clearly outperforming Nifty.
3) The market breadth (19:31) was in favour of the bears.
4) Nifty Mid-cap (+0.23%) outperfomed while Nifty Small-cap (-0.17%) was in-line with Nifty’s losses.
STOCKS IN SPOTLIGHT:
1) Shares of Vodafone Idea fell over 3% on Monday after India’s top court deferred its plea on the additional adjusted gross revenue (AGR) dues as the Centre sought more time.
2) Infrastructure major Larsen & Toubro (L&T) on Monday said its power transmission and distribution vertical has bagged ‘large’ grid infrastructure orders in the Middle East.
According to the company’s project classification, a ‘large’ order is worth Rs 2,500 crore to Rs 5,000 crore..
BULLS OF THE DAY:
ADANIPORTS (+2.10%)
BAJAJ AUTO (+1.50%)
BAJFINANCE (+1.48%)
SHRIRAMFIN (+1.20%)
BAJAJFINSV (+0.98%)
BEARS OF THE DAY:
TATAMOTORS (-2.20%)
INFY (-1.49%)
WIPRO (-1.43%)
HUL (-1.28%)
NESTLEIND (-1.19%)
OUR VIEW FOR TUESDAY’S TRADE
Technically, Nifty was able to defend its key support at 25025 mark.
Bottom-line: Hopes of recovery still seen ahead of festive season at Dalal Street. All eyes on today’s CPI inflation figures releasing in India.
ALL ABOUT NIFTY:
Nifty (CMP: 25227)
Support: 25177/25000
Resistance: 25401/25670
Range: 25179-25322
21 DMA: 25066
50 DMA: 24869
200 DMA: 24196
Trend: Neutral
BULLISH LOOKING STOCKS:
FEDERALBNK
BAJFINANCE
NATIONALUM
BULLISH LOOKING STOCKS (LONG TERM):
HBL ENGINEERING
L&T
BEL
BEARISH LOOKING STOCKS:
HUL
DMART
SIEMENS
STOCKS TO AVOID:
IEX
HDFCAMC
KEI
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