Nifty fails to hold-on above 26000 mark as profit-booking kicks-in in the later half of the day’s session
NIFTY (+23, 25891)
Sensex (+130, 84556)
Bank Nifty (+71, 58078)
Benchmark Nifty claimed intraday-high at 26104 but failed to remain above the same owing to heavy profit-booking. However, string of gains continued for 6th straight session amidst optimism surrounding US set to slash India’s tariffs to only 15%-16%
BankNifty too claimed a new all-time high at 58577.50 but failed to defend it.
Nifty IT Index was a clear outperformer, up 2.21%.
Adv-Dec 29—21
INDIA VIX 11.73 (+3.81%)
NIFTY PCR (28th OCT) 0.88
USD/INR Futures (Sep) (-0.21%, 87.86)
SECTOR GAINERS:
NIFTY IT (+2.21%)
NIFTY PVTBANKS (+0.49%)
NIFTY FMCG (+0.29%)
SECTORS LOSERS
NIFTY OIL & GAS (-0.57%)
NIFTY HEALTHCARE (-0.33%)
NIFTY PHARMA (-0.15%)
TODAY’S MARKET RE-CAP:
1) Nifty (+0.09%) somehow ended in green and most importantly, made an attempt to hit 26100 mark!
2) Bank Nifty claimed yet another all-time high at 58577.50 mark before trimming its gains in the later half.
3) The market breadth (29:21) was in favour of the bulls.
4) Nifty Mid-cap (-0.09%) and Nifty Small-cap (-0.05%) indices ended in red and outperforming the benchmarks.
5) Technically, the next goal post for Nifty is seen at its all-time-high at 26277.35 mark.
Bottom-line: Bullish consolidation seen for the day.
STOCKS IN SPOTLIGHT:
1) FMCG major Hindustan Unilever (HUL) on Thursday reported a 4% on year rise in its consolidated net profit for the second quarter of the financial year 2026 (Q2FY26), a period which saw GST regime transition impacting its sales. However, it was cushioned by the one-off positive impact from the resolution of previous years’ tax matters between UK and Indian tax authorities.
2) Shares of Muthoot Finance Ltd. and Manappuram Finance Ltd. tumbled on Thursday as gold prices saw a sharp fall, as investors booked profits amid easing US-India trade tensions.
3) Oberoi Realty’s sales bookings declined 10% to Rs 1,299.06 crore in the second quarter of this fiscal due to lower volumes in terms of area.
BULLS OF THE DAY:
INFY (+3.57%)
HCLTECH (+2.62%)
TCS (+2.11%)
SHRIRAMFIN (+1.98%)
ONGC (+1.56%)
BEARS OF THE DAY:
ETERNAL (-2.99%)
INDIGO (-2.09%)
ULTRACEMCO (-1.86%)
EICHERMOT (-1.77%)
BHARTIARTL (-1.64%)
OUR VIEW FOR FRIDAY’S TRADE
Technically, we suspect Nifty will now aim its all-time high at 26277.35 mark.
However, an up and down session likely amidst hostile global cues.
Bottom-line: Nifty needs to closed above 26000 mark to reaffirm strength.
ALL ABOUT NIFTY:
Nifty (CMP: 25891)
Support: 25675/25501
Resistance: 26110/26277
Range: 25777-26050
21 DMA: 25193
50 DMA: 25011
200 DMA: 24260
Trend: Neutral
BULLISH LOOKING STOCKS:
BAJFINANCE
IDFCFIRSTB
NTPC
BULLISH LOOKING STOCKS (LONG TERM):
BEL
L&T
FEDERALBNK
BEARISH LOOKING STOCKS:
INDIGO
MUTHOOTFIN
DIXON
STOCKS TO AVOID:
IEX
CDSL
IOC
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