Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × For the last six weeks, the Nifty has been moving higher and testing fresh lifetime highs. The Nifty Midcap and Smallcap indices have been outperforming the benchmark index for the past couple of sessions. Nifty seems to be riding the upper Bollinger bands for the past couple of weeks, and it has been successfully breaching the previous weeks’ highs. So, a simple bar chart analysis tells us that the index is in a strong bullish phase. On the open interest front (September 30, 2021, expiry), the maximum addition is seen at the 17,800 call options. On the put side, addition is seen at the 17,000 and 16,800 strikes. Thus, we can expect the broader range of the index to be 16,800-17,800 in the weeks to come. As far as the indicators are concerned, the RSI, plotted on the weekly time frame, …
Podcast | Hot Stocks: Another round of short coverings could take Nifty towards 11,550
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shitij Gandhi Indian markets extended gains for the third consecutive session with Nifty testing the two-week high to reclaim 11,400 levels on the back of a sharp surge in auto and metal stocks. From the derivative front, the open interest (OI) build-up was seen at 11,300 put strike along with call unwinding in 11,400 strikes. But, there are a lot of outstanding positions which are held with call writers, and we might witness another round of short-covering in coming sessions which can take the index towards 11550 levels. Close On the downside, 11,300-11,280 will act as a major support for Nifty. From the technical front as well, Nifty has almost witnessed a V-shaped recovery from 11,100 levels as the index is now holding above its long-term moving averages on the daily …
Taking Stock: Bull charge pushes Sensex, Nifty to new highs; bank, metal, IT stocks shine
The market extended the rally to the sixth consecutive session on October 14 in a holiday-shortened week led by IT majors who posted good numbers for the second quarter. Easing inflation data and buying in the banking and metal names also added fuel to the rally. At close, the Sensex was up 568.90 points, or 0.94 percent, at 61,305.95 and the Nifty was up 176.70 points, or 0.97 percent, at 18,338.50. The Sensex and Nifty50 indices touched fresh record highs of 61,353.25 and 18,350.75 during the day. For the week, both indices added 2 percent each. The market will remain shut on October 15 on account of Dussehra. "The Indian market sustained its upbeat mood supported by a positive global market, favourable inflation data and up move in IT stocks following strong earning scorecards by sector majors," said Vinod Nair, Head of Research at Geojit Financial Services. Close India’s September retail inflation eased sharply to 4.35 percent against 5.30 percent in …
Technical View | Nifty forms bullish candle on weekly & daily charts, experts see it marching towards 18,500
The bulls are in no mood to relent, with the Nifty closing above the 18,300-mark for the first time on October 14, continuing its northward journey for the sixth consecutive session. The rally across sectors, barring auto, boosted sentiment. The Nifty formed a bullish candle on the daily as well as weekly charts as the closing was higher than opening levels, which experts say indicates an uptrend in the coming sessions. They see the index marching towards 18,500. The Nifty opened higher at 18,272.85 to hit an intraday high of 18,350.75. It ended 176.70 points, or 0.97 percent, higher at a record close of 18,338.50. The index got a big push from a late surge in banks. It gained 2.5 percent during the week. Volatility also cooled down, supporting the bulls. India VIX, a measure of expected volatility in the market, fell 2.06 percent to 15.77 levels. Close "Overall, comparative lower VIX suggests that the bulls are holding a tight grip in the market. Now VIX …
Nifty scales 18,300, Sensex summits 61,000: Five factors behind the rally
Bulls kept on charging for the sixth consecutive session on October 14, despite some ups and downs in foreign funds flow, setting the stage perfect for celebrating the Dussehra. The benchmark indices climbed consistently to newer highs everyday as a buying binge spread across sectors through the last few trading sessions. The BSE Sensex decisively surpassed the 61,000 mark and the Nifty50 crossed 18,300 intraday for the first time, rising 568.90 points to 61,305.95 and climbing 176.70 points to 18,338.50 at close. "Since there are no known triggers for a sharp correction in the short run and the market momentum continues to be strong, the exuberant retail investors are likely to drive the markets further up even though seasoned investors are worried about excessive valuations," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Here are five factors that are driving the markets higher on Thursday: Close IT Stocks in Demand The …
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Hot Stocks | Here is why you should buy Cigniti Tech and sell SBI Life Insurance
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Nifty started the past week on a positive note on October 4 and witnessed some momentum to reclaim 17,700 with an ease. However, one day ahead of the weekly expiry, the market reacted to the global weakness. The index consolidated throughout the first half, but witnessed a sharp post mid-session to end the day tad above 17,600. The opening on the expiry day was absolutely a shocker for bears as the shaky global markets recovered overnight and remained firm thereafter. As a result, the Nifty continued its march towards the recent highs. The RBI governor announced its monetary policy on Friday and the outcome was very much in line with the general consensus. Market did not look much excited as it turned out to be a non-event. There was no follow-up seen in key indices throughout the remaining …
Hot Stocks | Can Fin Homes, ONGC and ITC can give 15-28% returns in short term
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Nifty is continuing to ride the upper Bollinger band and is holding above the previous week's low, thus indicating that the secondary bullish trend remains. On the options open interest front (30th Sept 2021 expiry), the highest open interest is seen at the 17,700 Call options. On the Put side, the highest open interest is seen at 17,000. So, we can expect the broader range of the index to be between 17,000 and 17,700 till the monthly expiry. On the indicator front, RSI plotted on the weekly timeframe remains above 50-mark and is drifting higher, indicating the bulls are trying to maintain their hold. Going ahead, the crucial levels to watch out for are 17,812 (1.27 percent extension level of the rise from 14,151-15,915, projected from 15,513 mark). Close If the index …
Market jumps 2% on supportive cues, over 60 smallcaps jump 10-39%
Market continued the gaining momentum in the second consecutive week with benchmark indices rising to fresh record high supported by the positive cues. In the last week, BSE Sensex rose 1,246.89 points (2.07 percent) to close at 61,305.95, while the Nifty50 rose 443.3 points (2.47 percent) to close at 18,338.5 levels. The broader indices - BSE Midcap and Smallcap indices added 3.3 and 2 percent, respectively. Among smallcaps, over 60 stocks rose between 10-39 percent including names like Borosil Renewables, GOCL Corporation, MSTC, Maharashtra Seamless, Network 18 Media & Investments, Inox Wind, Borosil, Swelect Energy Systems and Neuland Laboratories. Close On the other hand, SREI Infrastructure Finance, Chambal Fertilisers and Chemicals, Nureca, Bajaj Hindusthan Sugar, Shriram EPC, Nazara Technologies and BLS International Services fell 10-18 percent. "Market continued its bull run as worries about the likely interest rate hike in the US at a later …
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Hot Stocks | ‘Can bet on VIP Industries, Rupa & Company, Glenmark Pharma for 10-15% gains in short term’
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Nifty continued its upward journey for the third day in a row and closed at new high of 17,946 on October 11. Intermediate uptrend remains bullish as Nifty has been making higher tops and higher bottoms over the last several months. Nifty has been trading above the rising 20 and 50-day EMA (exponential moving average), which gives further evidence of an uptrend. The 14-month RSI (relative strength index) at 80 is not extremely overbought and is below its previous high of 2007 and 2014, which again suggests scope for more upside in the coming weeks and months. Intermediate upside targets for the Nifty are at 18,200 and 18,450. In the Options segment, Put writing was seen at 17,600-17,700. During the last correction, Nifty found support around 17,600 level and bounced back. This level also …
Small & Midcap Mantra | RITES: Analysts bullish on this underperformer on the verge of a breakout
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Rail India Technical and Economic Service (RITES) has remained flat in 2021, despite the smart rally seen in the S&P BSE 500 index as well as the Nifty50, which are up 16 and 12 per cent, respectively, so far this year. However, RITES started rallying since May 8 and it has risen over 12 percent. During this period, the Nifty gain has been 6 percent, and it has caught the attention of technical experts. The recent spike pushed the stock closer to its 52-week high of Rs 292, which is 9 percent from Tuesday’s closing price of Rs 267.95 on the BSE. RITES is a wholly-owned subsidiary and an engineering consultancy corporation, specialising in transport infrastructure. It is a government of India Enterprise under the aegis of the Indian Railways. Close RITES, which has a …