Nifty witnesses’ sharp intraday swings — dipping early, then rebounding strongly, and finally sliding towards the close.
The heightened volatility was largely attributed to investor caution ahead of the Bihar election results, scheduled for Friday, November 14th.
Nifty (+3, 25879)
Sensex (+12, 84479)
Bank Nifty (+107, 58382)
The undertone remains positive amidst positive catlysts:
1) Optimism over an NDA landslide victory in Bihar.
2) Crude oil futures has plunged, slipping toward $58 per barrel, as OPEC signalled a comfortable supply outlook.
3) US–India Trade Deal Hopes.
4) Expectations of an End to the US Shutdown.
5) Fed Rate Cut Buzz.
Adv-Dec 22—28
INDIA VIX 12.16 (+0.41%)
NIFTY PCR (18th NOV) 1.06
NIFTY PCR (25th NOV) 1.00
USD/INR Futures (NOV) (+0.03%, 88.72
SECTOR GAINERS:
NIFTY METAL (+0.44%)
NIFTY REALTY (+0.42%)
NIFTY PHARMA (+0.41%)
SECTORS LOSERS
NIFTY PSUBANKS (-0.68%)
NIFTY MEDIA (-0.55%)
NIFTY FMCG (-0.51%)
TODAY’S MARKET RE-CAP:
1) Nifty (+0.47%) witnessed a volatile trading session and the positive takeaway is that Nifty gained for 4th-straight day.
Nifty is still above its 21 DMA (25719), 50 DMA (25298) and its 100 DMA (25146). Nifty’s 200 DMA at 24427 mark.
Please note, confirmation of strength now only above 26110 mark.
2) Bank Nifty (+0.18%) did pretty well as bullish consolidation was the preferred theme all thru the trading session and most importantly, Bnak Nifty ended in green for the 5th straight day. Bank Nifty’s new all-time-high still seen at 58577.50 mark.
3) The market breadth (21:29) was in favour of the bears.
4) Nifty Mid-cap (-0.36%) slipped while Nifty Small-cap (-0.43%) too ended with minor cut.
STOCKS IN SPOTLIGHT:
1) Infibeam Avenues (+8.38%) spiked after posting strong Q2 earnings, with profit after tax rising 51% year-on-year to ₹66.52 crore.
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) Honasa Consumer (+5.95%) jumped after the company reported a net profit of Rs 39 crore in Q2 FY26 as against a net loss of Rs 19 crore recorded in Q2 FY25.
Revenue from operations rose by 16.5% year-over-year (YoY) to Rs 538 crore during the quarter
BULLS OF THE DAY:
ASIANPAINTS (+3.77%)
HINDALCO (+2.47%)
INDIGO (+1.99%)
ICICIBANK (+1.95%)
L&T (+1.27%)
ETERNAL (-3.69%)
TMCV (-2.84%)
M&M (-1.46%)
EICHERMOT (-1.20%)
TATASTEEL (-1.15%)
OUR VIEW FOR FRIDAY’S TRADE
Despite today’s consolidation we suspect there is still room for bulls to recapture 26000 mark.
The positive takeaway was that Nifty gained for 4th-straight day.
Technically speaking, confirmation of strength now only above 26111 mark. The gyan mantra is to stay bullish as long as Nifty 25589 support is held.
ALL ABOUT NIFTY:
Nifty (CMP: 25879)
Support: 25500/25351
Resistance: 26000/26200
Range: 25722-26000
21 DMA: 25719
50 DMA: 25298
200 DMA: 24427
Trend: Positive
BULLISH LOOKING STOCKS:
BIOCON
TATASTEEL
NATIONALUM
BULLISH LOOKING STOCKS (LONG TERM):
SYRMA TECHNOLOGIES
HBL ENGINEERING
DEEP INDUSTRIES
BEARISH LOOKING STOCKS:
PIIND
POLICYBZR
SUPREMEIND
STOCKS TO AVOID:
MAZDOCK
OFSS
RECLTD
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