logo
Monday, January 27, 2025
Sunday, January 26, 2025
Friday, January 24, 2025
24/01/25, BIZnews/paytm
Paytm share price recovered partially after dropping more than 8 percent in January 24 trade on buzz of ED probe in crypto scam.
Moneycontrol earlier reported that Paytm, Razor pay, PayU, Easybuzz and 4 other payment gateways are being investigated as the Enforcement Directorate (ED) froze around Rs 500 crore in their virtual accounts over the past two years in connection with some Chinese nationals running one of the biggest cryptocurrency scams, HPZ Token, from India. Moneycontrol couldn't independently verify the details, reported by TOI.The news led to sharp fall in the stock price of Paytm with the counter falling to an intraday low of Rs 773.05 per share on the NSE, declining 8.12 percent. Later in the day, it pared some of the losses to trade 3.32 percent lower at 11:20 AM to quote at Rs 820.95 per share.Earlier, fintech firm One97 Communications, which owns Paytm brand, reported a narrowing of consolidated loss to Rs 208.5 crore in the third quarter ended December 31, 2024 mainly on account of reduction in expenses across the board, mainly on payment processing charges and employee costs. The company had posted a loss of Rs 221.7 crore in the same period a year ago, the company said.The revenue from operations of Paytm declined by 35.8 per cent to Rs 1,827.8 crore during the reported quarter, from Rs 2,850.5 crore in the December 2024 quarter driven by dip in revenue from payments and financial services (34 per cent), payment services (40 per cent) and marketing services (48 per cent).
Thursday, January 23, 2025
23/01/25, BIZnews/market early hours
Indian equity benchmarks, BSE Sensex and Nifty50, opened in the red zone on Thursday. The BSE Sensex was trading below 76,300, while Nifty50 hovered near 23,100. At 10 am, the Sensex rose by 200.73 points, or 0.26 per cent, to reach 76,605.72, while the Nifty gained 65 points, or 0.28 per cent, settling at 23,220.35. Of the total shares traded, 2,026 advanced, 1,041 declined, and 131 remained unchanged.
23/01/25, Market Report
- Max call OI: 78,000
- Max put OI: 76,000
- (Expiry: 28 Jan)
- January Futures: 23,198 (▲0.4%)
- Open interest: 5,63,413 (▼3.3%)
- GIFT NIFTY: 23,136.50 (-0.17%)
- Nikkei 225: 39,874.42 (+0.58%)
- Hang Seng: 19,881.32 (+0.52%)
- Dow Jones: 44,156 (▲0.3%)
- &P 500: 6,086 (▲0.6%)
- Nasdaq Composite: 20,009 (▲1.2%)
SENSEX
The SENSEX also started the Wednesday's session on a positive note and sustained its gains throughout the day. The index also formed the bullish harami pattern on the daily chart, resembling the inside candle.
From the technical standpoint, the broader trend of the SENSEX remains bearish with index currently trading below all the key daily exponential moving averages like 21,50 and 200. Additionally, for short-term clues traders can monitor the range of 72,300 and 76,200. A close above or below this range will provide further directional clues.
The open interest data for the 28 January expiry saw significant put base at 76,000 strike, indicating support for the index around this zone. On the other hand, the significant call base was seen at 77,000 strike, pointing at resistance for the index around this area.
NIFTY50
The NIFTY50 index recovered slightly after a sharp correction the previous day, forming a bullish harami candlestick pattern on the daily chart, resembling an inside candle. It maintained the crucial 23,000 level at closing for the second consecutive day, failing to confirm the bearish engulfing pattern formed on January 21.
A bullish harami consists of a small bullish candle that is completely within the previous larger bearish candle, indicating a slowdown in selling pressure and possible buying interest. However, the pattern gets confirmed if the close of the subsequent candle is above the high of the harami candle.
Meanwhile, the broader trend of the index still remains bearish with immediate resistance around 23,600 zone. Unless the index reclaims this level, which aligns with its 200-day exponential moving average, the trend may remains weak. A close above this zone will signal change in the momentum.
For today's expiry, traders can monitor the range of 23,400 and 22,900 on the 15-minute chart. As shown on the chat below, the index has taken multiple resistance around the 23,400 zone. On the flip side, the immediate support for the index is around 22,900 area. Unless the index breaks this range with a strong candle, it may osciallate within this range.
The open interest data for today's expiry saw significant build-up of put options at the 23,000 strike, suggesting emergence of fresh buyers around this strike. On the flip side, the call base remained at 23,500 strike, indicating resistance around this level.
Asian markets @ 7 am
U.S. market update
U.S. indices extended the winning momentum for the third day in a row amid a rally in technology stocks. Shares of Oracle and Nvidia jumped in the range of 4 to 6% on the as the U.S. President announced a joint venture with OpenAI, Oracle and Softbank to invest $500 billion in AI infrastructure.
Meanwhile, shares of Netflix jumped over 9% after the company surpassed street estimates and surpassed 300 million paid memberships. The streamer's performance received a boost from popular content, including the hit series Squid Game and live sporting events like the Jake Paul vs. Mike Tyson boxing match.
FII-DII activity
Foreign Institutional Investors (FIIs) continued their selling streak for the 14th straight session, offloading equities worth ₹4,025 crore. Meanwhile, the Domestic Institutional Investors (DIIs) remained net buyers and purchased shares worth ₹3,640 crore. To track the ratio of long and short open positions of FIIs in the index, log in to https://pro.upstox.com/ ➡️F&O➡️FII-DII Activity➡️FII Derivatives.
Wednesday, January 22, 2025
22/01/25, Nifty Levels/BIZnews /
Stocks in the Asia-Pacific region tracked overnight gains on Wall Street in hopes that President Donald Trump's policies would boost the outlook for the world's biggest economy.
Australia's S&P/ASX 200 opened higher with the benchmark index advancing by 0.57%, or 48 points, to 8,451 as of 6:25 a.m. Japan's Nikkei was up 505 points, or 1.29% at 39,529. Future contracts in China and Hong Kong hinted at a cautious start.
Stocks in China gained in Tuesday's session as Trump held off from imposing trade tariffs in his inaugural speech but later said he is considering a 10% levy as early as Feb. 1.
Meanwhile, Trump pushed to make the US an AI superpower by having fewer guardrails by immediately halting the implementation of key safety and transparency requirements for AI developers.
US ten-year treasury yields advanced after falling five basis points in the previous session while the stocks added to their 2025 gains. The S&P 500 and the Dow Jones Industrial Average rose 0.88% and 1.24%, respectively. The tech-heavy Nasdaq Composite climbed 0.64%.
Indian benchmark indices extended their selloff on Tuesday, closing at their lowest levels since the June crash, as investor sentiment was rattled by uncertainty surrounding US President Donald Trump's trade tariffs. The spike in market volatility coincided with the weekly expiry of Sensex futures contracts.
The session fluctuated between gains and losses, eventually ending over 1.5% lower, with a sharp selloff in realty and energy stocks. Zomato dropped 13%, while Dixon Technologies (India) Ltd. fell 14% following weak third-quarter earnings reports.
The S&P BSE Sensex closed down by 1,235.08 points, or 1.6%, at 75,838.36, while the NSE Nifty 50 declined by 320.10 points, or 1.37%, to close at 23,024.65. Intraday, the NSE Nifty 50 fell 1.58% to 22,976.8, and the S&P BSE Sensex dropped 1.86% to 75,641.8.
Earnings To WatchNifty Earnings To Watch: Bharat Petroleum Corp., HDFC Bank, Hindustan Unilever.
Other Earnings To Watch: 20 Microns, Accelya Solutions India, Adroit Infotech, Alldigi Tech, BLB, Cigniti Technologies, Coforge, Elecon Engineering Co., Go Digit General Insurance, Gravita India, Heritage Foods, Housing & Urban Development Corp. Indosolar, Jagsonpal Pharmaceuticals, Laxmi Organic Industries, NIIT Learning Systems, Nuvoco Vistas Corp., Persistent Systems, Pidilite Industries, Polycab India, R. S. Software (India), RattanIndia Power, Spentex Industries, Stel Holdings, Take Solutions, Tata Communications, Tips Music, Ujaas Energy, Vardhman Textiles, Wendt (India), Zensar Technologies, Abhishek Corp., Akg Exim, Amit Spinning Industries, E2E Networks, Gujarat Apollo Industries, Kaynes Technology India, Kritika Wires, Mittal Life Style, Muthoot Capital Services, Powergrid Infrastructure Investment Trust, Shivam Autotech, SRG Housing Finance, Bharat Bhushan Finance & Commodity Brokers, Comfort Fincap, Comfort Intech, IIRM Holdings India, Jamshri Realty, Key Corp, Kisan Mouldings, KMG Milk Food, Monotype India, Quest Capital Markets, Real Growth Corp., Shradha AI Technologies, Trident Lifeline, Triveni Glass, Yamini Investments Co., Nilkanth Engineering.
Earnings Post Market HoursICICI Prudential Q3 Earnings
Net Premium Income up 23% at Rs 12,261 crore versus Rs 9,929 crore (Cons, YoY).
Net profit up 43% at Rs 325 crore versus Rs 227 crore (Cons, YoY).
Solvency Ratio at 211% versus 188% (Cons, QoQ).
13th Month Persistency at 85.8% versus 86.4% (Cons, QoQ).
Cyient DLM Q3 Earnings (Cons, YoY)
Revenue up 38% at Rs 444 crore versus Rs 321 crore (Estimate: Rs 450 crore).
Ebitda down 4% at Rs 28 crore versus Rs 29 crore (Estimate: Rs 42.4 crore).
Margin down 270 basis points at 6.3% versus 9% (Estimate: 9.4%).
Net profit up 40% at Rs 10.8 crore versus Rs 18 crore (Estimate: Rs 26 crore).
Rossari Biotech Q3 Earnings
Revenue up 10.6% at Rs 513 crore versus Rs 464 crore (Cons, YoY).
Ebitda up 1.9% at Rs 64.7 crore versus Rs 63.5 crore (Cons, YoY).
Margin at 12.6% versus 13.7% (Cons, YoY).
Net profit down 7.6% at Rs 31.7 crore versus Rs 34.3 crore (Cons, YoY).
Tanla Platforms Q3 Earnings
Revenue down 0.03% at Rs 1,000 crore versus Rs 1,001 crore (Cons, QoQ).
Ebit down 8.6% at Rs 139 crore versus Rs 152 crore (Cons, QoQ).
Ebit Margin at 13.9% versus 15.2% (Cons, QoQ).
Net profit down 9% at Rs 119 crore versus Rs 130 crore (Cons, QoQ).
PNB Housing Q3 Earnings
Total Income up 9.9% at Rs 1,925 crore versus Rs 1,751 crore (YoY).
Net profit up 36% at Rs 471 crore versus Rs 346 crore (YoY).
Tata Tech Q3 Earnings
Revenue up 1.6% at Rs 1,317 crore versus Rs 1,296.5 crore (Cons, QoQ).
EBIT down 1% at Rs 204 crore versus Rs 206 crore (Cons, QoQ).
EBIT Margin down at 15.5% versus 15.8% (Cons, QoQ).
Net profit up 7.1% at Rs 169 crore versus Rs 157 crore (Cons, QoQ).
Dalmia Bharat Q3 Earnings
Revenue down 11.7% at Rs 3,181 crore versus Rs 3,604 crore (Cons, YoY).
Ebitda down 34.4% at Rs 511 crore versus Rs 779 crore (Cons, YoY).
Margin at 16.1% versus 21.6% (Cons, YoY).
Net profit down 75.2% at Rs 66 crore versus Rs 266 crore (Cons, YoY).
KEI Industries Q3 Earnings
Revenue up 19.8% at Rs 2,467 crore versus Rs 2,059 crore (Cons, YoY).
Ebitda up 12.3% at Rs 241 crore versus Rs 214 crore (Cons, YoY).
Margin at 9.6% versus 10.4% (Cons, YoY).
Net profit up 9.4% at Rs 165 crore versus Rs 151 crore (Cons, YoY).
Jana SFB Q3 Earnings
NII up 8% at Rs 593 crore versus Rs 548 crore (YoY).
Net profit down 17.8% at Rs 111 crore versus Rs 135 crore (YoY).
Gross NPA at 2.8% versus 2.97% (QoQ).
Net NPA at 0.94% versus 0.99% (QoQ).
IndiaMART Q3 Earnings
Revenue up 16% at Rs 354 crore versus Rs 305 crore (Cons, YoY).
Ebitda up 61.4% at Rs 138 crore versus Rs 85.7 crore (Cons, YoY).
Margin at 39% versus 28.1% (Cons, YoY).
Net profit up 47% at Rs 121 crore versus Rs 81.9 crore (Cons, YoY).
Tuesday, January 21, 2025
21/01/25, Key changes in FEMA Act
The Reserve Bank of India (RBI) is aiming to make the Rupee more popular in global trade as the Indian currency continues to weaken against the US Dollar. On Thursday, the RBI proposed several key changes to the Foreign Exchange Management Act (FEMA) rules to provide greater flexibility for Indian exports and global traders to settle their transactions in Rupees instead of Dollars.
In a circular, the RBI permitted non-residents to open Rupee-denominated accounts overseas through branches of Indian banks. These accounts can be used to pay or settle transactions with Indian exporters. Additionally, Indian exporters have been allowed to open accounts in any foreign currency overseas for the settlement of transactions. This includes receiving export proceeds, which can then be used to pay for imports.The move is significant as the Rupee continues to weaken against the Dollar. Currently, it is hovering at a lifetime low due to the strengthening of the US Dollar and foreign investor outflows from Indian markets. As of now, the Rupee is trading at Rs 86.58 against the Dollar, compared to Rs 84.92 a month ago, according to data.“These amendments are steady steps toward making the Indian Rupee more popular globally and equipping our exporters with greater flexibility in concluding their transactions overseas. Moreover, these amendments reflect the efforts being made to make the Special Non-Resident Rupee (SNRR) account more attractive for overseas entities, thereby increasing investor confidence,” said Akash Chauhan, Director of Regulatory Affairs at IndusLaw.This initiative is part of the RBI's broader effort to position the Rupee as a cross-border currency which would significantly reduce currency risk for Indian parties. In 2022, the RBI introduced the Special Rupee Vostro Account (SRVA), enabling Indian banks to settle international trade in Rupees.A Special Rupee Vostro Account (SRVA) is a bank account that allows Indian banks to settle international trade in Rupees. These accounts can be opened by foreign banks with their Indian counterparts overseas, enabling clients of the foreign banks to settle their trades in Rupees. The RBI has already signed Memoranda of Understanding (MoUs) with the central banks of the United Arab Emirates, Indonesia, and the Maldives to promote the SRVA route.On the other hand, SNRR accounts are designed for non-residents with business interests in India. These accounts can be used to settle transactions within the country.The circular also allows non-residents to use these overseas Rupee accounts to make Foreign Direct Investments (FDI) into India in non-debt instruments. FDI is an investment route for foreigners seeking to buy equity in unlisted Indian companies.21/01/25, The Nifty is poised for a critical session on Tuesday, with immediate support at 23,200 and resistance levels at 23,360 and 23,570. "Tomorrow's trade will be crucial for further clarity.
A breakout above the current level could see the index reaching the 23,570-23,690 zone," said Aditya Gaggar, Director at Progressive Shares.
The index gained 142 points to close at 23,345, driven by strong global cues and robust third quarter earnings from Kotak Mahindra Bank Ltd. and Wipro Ltd.
"We expect the market to trade within a broad range with stock- and sector-specific action continuing as the Q3 result season picks up pace," said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services.
Broader markets also rebounded, with the Smallcap 50 and Midcap 50 indices recovering after heavy sell-offs. "The broader market exhibited a healthy bounce back after recent bloodbaths, but concerns over the US stance on the global economy capped gains," said Ameya Ranadive, Chartered Market Technician and Senior Technical Analyst at StoxBox.
Key earnings to watch on Tuesday include ICICI Prudential Life Insurance Company Ltd., KEI Industries Ltd., Tata Technologies Ltd., and PNB Housing Finance Ltd., which could influence market sentiment, said Khemka.
Market RecapIndian benchmark indexes closed higher following a brief dip as the world prepares for Donald Trump's swearing-in as the 47th US president and the flurry of executive orders he is anticipated to issue.
Kotak Mahindra Bank Ltd. and Wipro Ltd. led the gains in the key indices, with analysts raising their target prices in response to positive earnings.
The S&P BSE Sensex Index closed at 77,073, up 454 points or 0.59%, while the NSE Nifty 50 was up 141 points or 0.61%, to 23,344.
Intraday, the NSE Nifty 50 rose 0.81% to 23,391, while the S&P BSE Sensex increased 0.91% to 77,318.9. The advances over the day lifted the indices to their second-best session this year.
Stock Market Highlights: Nifty, Sensex Clock Second-Best Session Of 2025; Kotak, HDFC Bank Top GainersGlobal CuesStocks in the Asia-Pacific region advanced on Tuesday after US President Donald Trump resisted imposing any trade tariff in his inaugural speech, while promising a "golden age" for America.
Australia's S&P/ASX 200 opened higher with the benchmark index advancing by 0.5%, or 41 points, to 8,388 as of 6:25 a.m. South Korea's Kospi was down 1.1 points, or 0.04% at 2,518. Future contracts in China and Hong Kong hinted at a positive start.
Asian currencies strengthened after Bloomberg's dollar gauge slid more than 1% Monday. The dollar index - which tracks the greenback's performance against a basket of 10 leading global currencies - was 0.92% down at 108.34. Bitcoin traded above the $102,000 mark.
Trump promised to sign a series of executive orders, including a national energy emergency, promising to "drill baby drill". The president held off on unveiling China-specific tariffs, triggering a decline in the US dollar lower and US stock futures higher.
He vowed to prioritise America's interests and aimed at a "radical and corrupt establishment". He pledged to tackle residual inflation. President Trump withdrew from the Paris climate treaty.
Crude oil prices declined as Trump vowed to declare a national emergency to unleash domestic energy production. The Brent crude was trading 0.79% lower at $80.15 a barrel as of 6:45 a.m. IST, and the West Texas Intermediate was down 1.46% at $76.74.
Money MarketThe rupee gave up some of its early gains but closed 4 paise higher at 86.57 against the US dollar. According to Bloomberg data, the domestic currency opened higher versus the dollar at 84.48. It closed at Rs 86.61 per dollar on Friday.
Rupee Closes Stronger Against US Dollar After Two-Sessions Of Weakness.Monday, January 20, 2025
for 20/01/25, stocks to attract traders attention
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi has suggested three stocks.
These Include Steel Authority of India Ltd (SAIL), SJVN Ltd, Jubilant FoodWorks Ltd, Godrej Properties Ltd and Pidilite Industries Ltd
1) Sumeet Bagadia's stock recommendations today
😊Steel Authority of India Ltd (SAIL)- Bagadia recommends buying Steel Authority of India (SAIL) at ₹108.82 keeping stoploss at ₹105 for a target price of ₹117
SAIL is currently trading at ₹108.82, exhibiting a upward trajectory. The stock has reversed from lower levels, regaining bullish momentum. Notably, it has closed above the 200-day EMA, forming a bullish hammer candlestick pattern on the weekly timeframe, which reinforces a positive trend. Additionally, the stock is approaching its 20-day and 50-day EMAs, and a close above these levels would likely sustain the ongoing bullish momentum. The recent breakout above the key resistance level of ₹111 highlights the potential for further appreciation. If the current trend persists and additional resistance levels are surpassed, SAIL could target ₹117 soon. On the downside, immediate support is at ₹107
😊SJVN Ltd- Bagadia recommends buying SJVN at ₹100.76 keeping Stoploss at ₹97 for a target price of ₹108
SJVN is currently trading at ₹100.76, showing a strong upward trajectory. The stock has reversed from lower levels, regaining bullish momentum. A bullish candlestick pattern has formed on the weekly timeframe, reinforcing the positive trend. The stock is approaching its 20-day and 50-day EMAs, and a close above these levels is likely to sustain the ongoing bullish momentum.
2) Ganesh Dongre's stocks to buy today
😊Jubilant FoodWorks Ltd - Dongre recommends buying Jubilant FoodWorks at ₹693, keeping Stoploss at ₹680 for a target price of ₹720
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs.720. At present, the stock is maintaining a crucial support level at Rs.680. Given the current market price of Rs.693, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.720
😊Godrej Properties Ltd- Dongre recommends buying Godrej Properties at ₹2410 keeping Stoploss at ₹2370 for a target price of ₹2470.
We have seen a major support in this stock around ₹2370 So, at the current juncture, the stock has again seen a reversal price action formation at the ₹2410 price level, which may continue its rally till its next resistance level of ₹2475 so traders can buy and hold this stock with a stop loss of ₹2370 for the target price of ₹2475 in the upcoming weeks.
😊 Pidilite Industries Ltd - Dongre recommends buying Pidilite Industries at Around ₹2815 keeping Stoploss at ₹2760 for a target price of ₹2870
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock's price, possibly to around ₹2870. Currently, the stock is holding a crucial support level at ₹2760.
Given this scenario, there is potential for the stock to rebound towards the ₹2870 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at ₹2760 to manage risk effectively. The target price for this trade is ₹2870
20/01/25, Share Market Report
The market's consolidation and correction phase continued during the week ended 17 January 2024, as the benchmark Nifty 50 index and S&P BSE index ended about 1.0% lower week over week at 23,203.20 and 76,619.33, respectively.
Among Sectors, Utilities and Metals were the top outperformers, while Realty and IT were the top underperformers. Also, the broader markets and indices ended almost flat.
Trade Setup for Monday
The short-term trend of the Nifty remains weak amidst range movement. A decisive upside above 23400 could only open renewed buying enthusiasm in the market. Immediate support is placed at 23100, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
For Bank Nifty, 47,900 levels will provide immediate support for the index. However, the index maintained below its 250-Days Simple Moving Average (250-DSMA) hurdle, around 49,910 levels, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.
Global Markets to Q3 Results Today
Looking ahead, we anticipate the market to maintain a cautious tone next week due to several domestic and global factors. Key corporate earnings from heavyweights such as Hindustan Unilever, HDFC Bank, ICICI Bank, BPCL, and Hindustan Petroleum are slated for release and will be closely monitored. Additionally, the swearing-in of US President Donald Trump on January 20 is expected to draw significant attention, especially for any initial announcements on trade tariffs and their implications for global trade, said Ajit Mishra - SVP, Research, Religare Broking Ltd
Sunday, January 19, 2025
19/01/25, China has been playing every possible tactic to stop India's meteoric economic growth, effectively initiating a silent trade war
The Xi Jinping administration has imposed restrictions on the export of critical goods and machinery to India. According to the Think tank GTRI, India needs to reduce its dependence on China and strengthen partnerships with countries like Japan and South Korea.
The move by China to halt the supply of critical goods to India could significantly impact the country's economy and production processes. In several sectors, China is a key supplier, and such actions could lead to increased production costs. This may also result in a rise in inflation in the domestic market.
Will Russia Be Able to Provide Help to India?
Russia, India's most trusted ally, may not be able to offer substantial assistance in this matter. The growing ties between Russia and China could hinder the Putin administration from providing unconditional support to India.
Additionally, Russia's current global circumstances do not allow it to extend the level of support India might expect. The ongoing Ukraine war and the sanctions imposed by Western countries have affected Russia's economy, limiting its global trade capabilities.
India Needs To Strengthen its Partnerships with Japan
According to think tank GTRI, India needs to strengthen its partnerships with Japan and South Korea to reduce its dependence on China. India should procure high-quality components for electronics, solar panels, and EVs from these countries.
GTRI founder Ajay Srivastava said, "This signals deep geopolitical tensions and a trade war. We hope the India-specific restrictions will soon be lifted, as they will also harm China." There is no doubt that the strategy of China will hamper India's electronics, solar, and EV sectors.
However, it also impacts China's own manufacturing and exports. Indian companies are facing delays and disruptions in the supply of goods as China is halting the export of components and machinery. By strengthening partnerships with countries like Japan and South Korea, India can fortify its position.
Saturday, January 18, 2025
Friday, January 17, 2025
17/01/25, Share Market News
SENSEX
- Max call OI: 79,000
- Max put OI: 75,000
- (Expiry: 21 Jan)
The SENSEX extended its rebound for the third consecutive day, closing Thursday's session in positive territory. However, the index fell short of confirming the inverted hammer candlestick pattern formed on January 13, as it faced rejection at the high point of the reversal pattern.
The technical outlook for the SENSEX, based on the weekly chart, remains bearish as the index continues to trade below the weekly 20 EMA. While it managed to hold the weekly 50 EMA on a closing basis last week, it has stayed below this support level throughout the week.
Traders should closely watch this critical support, as a decisive close below it would indicate further weakness. Conversely, if the index successfully defends this level and reclaims the weekly 50 EMA, it could potentially extend its rebound toward the weekly 20 EMA.
On the daily chart, traders can monitor the high and low of the inverted hammer candlestick pattern formed on 13 January. As highlighted on the chart below, a breakout of these levels will provide further short-term directional clues.
*** *** *** *** ***
The Nifty 50 extended its upward move and formed higher lows for three consecutive days, closing 0.4 percent higher on January 16. The index managed to close above the November low (23,263) and surpassed the 23,350 hurdle intraday. However, the overall sentiment remained in favour of the bears, as the index continued to trade well below all key moving averages. Therefore, the index is expected to consolidate, with immediate support at 23,150, followed by 23,050 (January low). In the event of a continuation of the uptrend, the key hurdle is at 23,500, as above this level, the 200-day EMA at 23,680 will be the level to watch.
Today, 17/1/25, Gift Nifty is hinting at a muted start for Nifty 50 index today. At 7:30 AM, Gift Nifty was seen trading at 23,334. Overnight, Dow Jones, Nasdaq and S&P500 closed in the red
Levels For The NIFTY50(23,312)
Resistance based on pivot points: 23,371, 23,399, and 23,445
Support based on pivot points: 23,280, 23,251, and 23,206
The Nifty 50 formed a bearish candlestick pattern on the daily charts with above-average volumes, continuing the formation of higher highs for another session. However, the momentum indicators remain in negative territory, and the index is sustaining below all key moving averages, signaling an overall bearish phase for the market. Additionally, on the weekly charts, the index formed a bullish candlestick pattern with minor upper and long lower shadows, indicating buying interest at lower levels. Despite this, the index remains below the 50-week EMA and is trading near the lower end of the Bollinger Bands.
Meanwhile, the technical structure as per the weekly chart remains bearish with index trading below its weekly 21 and 50 exponential moving averages. This indicates that the broader trend of the index remains weak and the index may face resistance on rebounds. However, traders can closely monitor the weekly close. A close above 50 weekly EMA will extend the rally up to weekly 21 EMA. On the flip side, a rejection from 50 EMA will indicate weakness.
On the daily chart, traders can monitor the high and low of the inverted hammer candlestick pattern formed on 13 January. A breakout from these levels on a closing basis will provide short-term directional clues.
*** *** *** *** ***
Levels For The NIFTY BANK (49,279)
Resistance based on pivot points: 49,419, 49,519, and 49,679
Support based on pivot points: 49,098, 48,999, and 48,838
Resistance based on Fibonacci retracement: 49,445, 50,410
Support based on Fibonacci retracement: 47,864, 46,078
The Nifty Bank maintained higher tops and higher bottoms for the third consecutive session, particularly since hitting a seven-month low on December 13. It formed a bullish candlestick pattern on the daily charts but remains in the lower band of the Bollinger Bands and below all key moving averages. The momentum indicator RSI (Relative Strength Index) at 39 showed a positive crossover but is still in the lower band, and the MACD (Moving Average Convergence Divergence) remains below the zero line, signaling a negative bias. On the weekly timeframe, the index formed a long bullish candlestick pattern but is still below the 50-week EMA of 49,930.
👉Stocks to watch today include Infosys, Reliance Industries, Axis Bank, LTIM, DB Corp, Havells and more. Earlier on Thursday, Sensex climbed 318.74 points or 0.42 per cent to close at 77,042.82. The Nifty 50 index rallied 98.60 points or 0.42 per cent to settle at 23,311.80.
FII-DII activity
Foreign Institutional Investors (FIIs) persisted with their selling streak for the 10th consecutive session, offloading shares worth ₹4,341 crore. Meanwhile, Domestic Institutional Investors (DIIs) sustained their buying trend, purchasing shares worth ₹2,928 crore
Thursday, January 16, 2025
16/01/25, Bull's Bounce... will it sustains
U.S. indices rallied on Wednesday as the consumer inflation data showed that key prices rose less than expected in December. The Consumer Price Index rose 2.9% year-on-year, in line with street estimates. Moreover, the core CPI, which strips out volatile food and energy prices, came in at 3.2%, slightly better than estimates of 3.3%.
Wall Street was also cheered the better-than-expected third-quarter earnings of banks. Investment banking and trading revenues contributed to the well-received results from JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo.
The stock market sentiment turned upbeat as impressive Q4 earnings sparked optimism. JPMorgan reported its highest-ever annual profit, BlackRock reached a record $11.6 trillion in assets under management, and Goldman Sachs more than doubled its Q4 profit, highlighting the financial sector's resilience.
At 10 am, the Sensex gained 279.28 points, or 0.36 per cent, reaching 77,003.36, while the Nifty rose 102.80 points, or 0.44 per cent, to 23,316. Of the total shares, 2,612 advanced, 489 declined, and 104 remained unchanged.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “Macro indicators from the US suggest that as the swearing-in of Trump nears, the Trump trade has peaked. The decline in US bond yields and the dollar index are indications of this. This downshift in the dollar index and bond yields has been assisted by the lower-than-expected CPI inflation in the US, again igniting hopes of more rate cuts by the Fed this year. Hope of an end to the conflict in Gaza is another major relief. This global backdrop is positive for the market.”
He added, “A relief rally in India is certainly on the cards, but the sustainability of the rally will depend on the Indian macros, particularly the revival of GDP and earnings growth. Budget expectations can aid a rally in the market but it will soon give way to the trends in GDP and earnings growth. Investors should focus on largecaps which have been more stable than the mid and small caps. Broadly speaking, segments with growth visibility like Pharma and health care, IT and discretionary consumption will remain resilient.”
Author : ABP News Bureau
16/01/25, Share Market
SENSEX
- Max call OI: 79,000
- Max put OI: 76,500
- (Expiry: 21 Jan)
The SENSEX extended its range-bound movement for the second day in a row and consolidated within the range of 13 January. The index formed an inverted hammer candlestick pattern on 13 January and has formed a second inside candle.
The technical structure of the index as per the daily chart remains weak with immediate resistance around the 78,000 mark. The zone also coincides with the 200-day EMA of the index. However, traders should also closely monitor the high and the low of inverted hammer. A close above the high or below the low of the reversal pattern will provide further directional clues.
The Nifty 50 remained in positive territory amid choppy trade, rising 0.2 percent and extending its uptrend for the second consecutive session on January 15. The Nifty 50 is expected to trade in the range of 23,050–23,350 (Monday's low and high) in the near term, while overall sentiment remains in favour of bears until the index closes above all key moving averages. If the index decisively breaks the lower end of the range, a fall toward 22,800 could be possible. However, if it moves above the upper range, the index may climb toward the 10-day EMA of 23,460 and then the 200-day EMA of 23,680, according to experts.
NIFTY 50
Levels For The Nifty50 (23,213)
Resistance based on pivot points: 23,274, 23,309, and 23,365
Support based on pivot points: 23,162, 23,127, and 23,070
The Nifty 50 reported a small bearish candle with minor upper and lower shadows on the daily charts, indicating choppy trade. The index traded near the lower end of the Bollinger Bands, with a negative bias in the momentum indicators—the Relative Strength Index (36) in the lower band and the MACD (Moving Average Convergence Divergence) below the zero line—indicating a bearish phase.
More on Nifty50:
- January Futures: 23,265 (▲0.0%)
- Open interest: 5,41,452 (▼1.5%)
The NIFTY50 index extended its upward climb on January 15 and ended the day with moderate gains. The index formed a second consecutive inside candle on the daily chart, signalling consolidation around the 23,200 zone.
As per the daily chart, the broader trend of the index remains weak with immediate resistance around 23,700 zone, which coincides with its 200- day exponential moving average (EMA). Meanwhile, positional traders can monitor the high and low of the inverted hammer formed on 13 January. A close above or below the high and low of the reversal pattern will provide further directional clues.
On the 15-minute chart, traders can monitor the resistance zone of 23,350 and a downward sloping trendline. A close above the resistance zone on a 15 minute chart with a strong candle, will signal the momentum extending towards the resistance zone of 23,500. On the flip side, the immediate support is visible around the 23,000 zone.
The open interest data for the today's expiry saw significant call and put base at 23,200 strike, signalling consolidation around this zone. Meanwhile, a substantial call and put base was also established at 23,300 and 23,000 strikes, signalling resistance and support around these levels.
-------------------------------------------------
NIFTY BANK 
Levels For The Nifty Bank (48,752)
Resistance based on pivot points: 49,000, 49,133, and 49,347
Support based on pivot points: 48,572, 48,439, and 48,225
Resistance based on Fibonacci retracement: 49,448, 50,407
Support based on Fibonacci retracement: 47,874, 46,078
The NiftyBank formed a small red candle with long upper and lower shadows, resembling a High Wave-like candlestick pattern on the daily timeframe, indicating indecision. The index saw higher tops and higher bottoms for another session, which is positive, but the overall trend remains weak given that the index traded well below all key moving averages and the momentum indicators have a negative bias.
NIFTY MADCAP 100 
-----------------------------------------------
👉FII-DII activity
Foreign Institutional Investors (FIIs) extended their selling streak for the ninth consecutive session, offloading shares worth ₹4,533 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying trend, purchasing shares worth ₹3,682 crore.
👉U.S. indices rallied on Wednesday as the consumer inflation data showed that key prices rose less than expected in December. The Consumer Price Index rose 2.9% year-on-year, in line with street estimates. Moreover, the core CPI, which strips out volatile food and energy prices, came in at 3.2%, slightly better than estimates of 3.3%.
Wall Street was also cheered the better-than-expected third-quarter earnings of banks. Investment banking and trading revenues contributed to the well-received results from JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo.
source: TradingView, upstox,Network18,
& vali
---------------------------------------
Subscribe to:
Posts (Atom)
