Latest news with #TheNifty
Hans India
11-08-2025
- Business
- Hans India
Technical bounce possible after 6 weeks of fall
TheNifty logs its sixth consecutive weekly decline after the 2020 COVID crash. The Nifty is down by 202.05 points or 0.82 per cent, and the BSE Sensex declined by 0.92 per cent. The broader market continues to underperform. The Midcap-100 and Smallcap-100 indices are down by 1.12 per cent and 1.36 per cent, respectively. On the sectoral front, the Media index only gained by over one per cent. The Metal and Auto indices advanced by 0.49 per cent and 0.27 per cent, respectively. On the flip side, the Pharma is down by 2.77 per cent. The Realty and FMCG indices declined by 2.45 per cent and 2.31 per cent, respectively. The Energy, FinNifty, Banknifty were down by over one per cent. The India VIX is up by 0.48 per cent to 12.03. The broader market breadth is negative. The FIIs have sold Rs.14,018.87 crore, and the DIIs bought Rs.36,795.52 crore worth of equities in this month. The Nifty declined for six consecutive weeks. This is the longest streak after February and March 2020. After retracing 87 per cent per cent of the prior fall, the index made a major lower-high at 25669. The prior decline was 17.25 per cent from the all-time high of 26277. The rise from 21743 is 18.05 per cent. The index failed to form a new all-time high and declined. Currently, the index is trading below all key averages, except the 200 DMA. The 200 DMA is placed at 24042. Prior to that, the 50-week average is at 24203. The 38.2 per cent retracement level of the prior upswing is at 24169. For now, the fall may halt at this crucial support zone of 24042-203. As the index witnessed its longest streak of decline, there is a high probability of a technical bounce from the crucial support. Before testing below 24000 levels, the index may bounce from the 24169-203. The bounce may be one or two weeks and may test the 20DMA of 24871. Normally, the counter-trend rallies end at 38.2 per cent retracement levels, which is the 24738-850 zone. In any case, the rally extends, the recent swing high of 25222 is also a 61.8 per cent retracement level, which will be the maximum target for the index. In such a scenario, the price structure will change and form a new pattern. The 25222 will be right shoulder's high. A decline will be sharper. This new leg of decline below 24462 will result in a head and shoulder pattern breakdown. The target for this breakdown would be 23243. This zone is nothing but a 61.8 per cent retracement of the prior upswing from 21743 to 25669. This target can be achieved by October 2025, with a high probability. In the most bullish case scenario, if the Nifty bounces from the 200 DMA support and breaks above 25669, the new target will be achieved by the Jan-March quarter of 2026. Last week's volumes were higher than the previous week's. Currently, the index is holding six distribution days. As the trading is below the key averages and has formed a series of lower highs and lower lows on a daily chart, the index is in a confirmed downtrend. The weekly Relative Strength Index declining below 50 is a sign of weakness. The daily RSI is already in the bearish zone. The weekly MACD has given a fresh bearish signal, and the daily MACD has been below the zero line for the past two weeks. Importantly, the index is now below the Anchored VWAP support. The market needs clarity on the impact of US tariffs. It may take another quarter to assess the actual impact, where the next quarter's earnings will depict the sales and margins of the companies doing business with the US. According to recent economic forecasts, the current tariffs could result in a drop in US GDP, slower global growth, and increased inflation through mid-to-late 2025. Overall, the next round of earnings releases is anticipated to provide concrete evidence of how tariffs have influenced sales, input costs, and corporate profitability for companies involved in US trade. The volatility index, India VIX, is still at the lower range. This is a big negative for the bullish bets. A spurt in the VIX will result in a big fall in the index, as it has an inverse relationship. If the index reaches above 15-17 levels, expect the index to test the pattern target of 23243. It is necessary to watch the VIX movements from now on. Overall, the traders must be cautious and defensive. It is advised to avoid fresh long positions as long as it trades below the 20 DMA. For next week, only four trading sessions will be available as the 15th of August is a holiday. (The author is partner, Wealocity Analytics, Sebi-registered research analyst, chief mentor, Indus School of Technical Analysis, financial journalist, technical analyst and trainer)
Mint
11-08-2025
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 11 August
On Friday, 8 August, the Indian equity market witnessed a broad-based sell-off. Benchmark indices extended their losing streak amid persistent selling pressure across major sectors. Caution dominated the session as weak global cues and continued institutional profit-booking weighed on sentiment. Top three stock picks by Ankush Bajaj for 11 August: Sarda Energy & Minerals Ltd—Current price: ₹534.95 Why it's recommended: Sarda Energy & Minerals Ltd has a daily RSI at 65, indicating steady bullish momentum. MACD is positive at 26, and ADX at 28 reflects a strengthening trend. After making a new lifetime high, the stock witnessed some profit booking and is now trading at a recent major demand zone. This zone is expected to act as strong support, potentially triggering a rebound from current levels. Key metrics: Demand Zone: Trading near major demand support after lifetime high Pattern: Pullback to support within ongoing uptrend MACD: Positive at 26 RSI: Daily RSI at 65, showing bullish bias ADX: At 28, indicating trend strength Technical analysis: Demand zone support suggests a bounce towards ₹610 Risk factors: A close below ₹498 would weaken the support and warrant caution. Buy at: ₹534.95 Target price: ₹610 Stop loss: ₹498 Global Health Ltd (Medanta)—Current price: ₹1,423.20 Why it's recommended: Global Health Ltd has a daily RSI of 71, showing strong bullish strength. MACD is at 31, and ADX at 35 confirms a robust trending phase. On the daily chart, the stock has broken out of a triangle pattern — a continuation setup often leading to further upside. The breakout is supported by strong momentum indicators, making the stock poised for a move towards ₹1,540. Key metrics: Breakout Zone: Triangle breakout confirmed Pattern: Continuation pattern indicating trend resumption MACD: Positive at 31 RSI: Daily RSI at 71, reflecting strong buying pressure ADX: At 35, confirming trend strength Technical analysis: Breakout suggests further upside towards ₹1,540 Risk factors: A close below ₹1,362 would invalidate the breakout. Buy at: ₹1,423.20 Target price: ₹1,540 Stop loss: ₹1,362 Cummins India Ltd—Current price: ₹3,806.90 Why it's recommended: Cummins India Ltd shows strong momentum with a daily RSI at 76, MACD at 71, and ADX at 31—all confirming bullish dominance. The stochastic oscillator has also given a strong breakout above the ₹3,700 level, turning that zone into a crucial support. Sustaining above this breakout point keeps the bias positive, with potential for an upward move towards ₹3,955. Key metrics: Breakout Zone: Stochastic breakout above ₹3,700 Pattern: Momentum continuation MACD: Strong positive at 71 RSI: Daily RSI at 76, reflecting overbought but powerful uptrend ADX: At 31, indicating strong trend Technical analysis: Sustaining above ₹3,700 supports bullish continuation towards ₹3,955 Risk factors: A close below ₹3,735 would weaken bullish momentum. Buy at: ₹3,806.90 Target price: ₹3,955 Stop loss: ₹3,735 Stock market wrap The Nifty 50 dropped sharply by 232.85 points or 0.95%, ending at 24,363.30, while the BSE Sensex slipped 765.47 points or 0.95%, settling at 79,857.79. The Nifty Bank also closed deep in the red, losing 516.25 points or 0.93% to finish at 55,004.90, reflecting broad weakness in financial counters. Sectoral performance was largely negative. Realty declined 0.45%, Metal fell 0.25%, and Auto dipped 0.20%, highlighting the absence of strong buying support. While Oil & Gas (+0.75%), Healthcare (+0.61%), and PSU (+0.29%) managed to hold marginally higher, the broader tone remained weak. In stock-specific movers, NTPC gained 1.52%, Titan rose 1.30%, and Dr. Reddy's advanced 0.88% on selective buying interest. On the downside, Bharti Airtel plunged 3.33%, Adani Enterprises lost 3.19%, and IndusInd Bank fell 3.08%, contributing significantly to the market's overall decline. Nifty technical analysis—daily & hourly On 8 August, the Nifty closed sharply lower at 24,363.30, losing 232.85 points or 0.95%, marking a clear breakdown and reinforcing the ongoing bearish momentum. This decline also came with a notable deterioration in the technical setup, as the index registered a negative crossover on the daily chart —the 20-day SMA at 24,871 has now crossed below the 40-day EMA at 24,884. This kind of crossover is often seen as a signal that a deeper corrective phase could unfold. At present, the Nifty is trading well below all its key short-term moving averages. On the daily chart, it remains under both the 20-day SMA and 40-day EMA, and on the intraday chart, it is below the 20-hour SMA at 24,486 and the 40-hour EMA at 24,581. The fact that the index has not been able to even test these averages during small intraday recoveries highlights persistent selling pressure and a lack of strong dip-buying interest. As long as the Nifty stays below these levels, the short-term directional bias will remain firmly negative. Momentum indicators continue to paint a weak picture. The daily RSI has fallen to 33, entering oversold territory but without any sign of a reversal. The daily MACD has slipped further to -166, deep in negative terrain, confirming strong bearish momentum. On the hourly charts, the RSI at 35 and MACD at -67 also remain weak, with no bullish divergence visible. This suggests that although the market is oversold in the short term, the weakness is structural, and any bounce is likely to be corrective rather than the start of a sustained uptrend. The derivatives data is in line with this bearish setup. Total Call OI stands at 173.7 million against a much lower Put OI of 83.6 million, resulting in a bearish Put–Call OI difference of -90.1 million. The heaviest Call OI is at the 25,000 strike, indicating strong overhead resistance, while the biggest Call OI addition has come at the 24,500 strike, showing fresh short build-up at this level. On the Put side, the maximum OI is far away at the 22,800 strike, while the highest Put additions are at 24,300—a sign that traders are trying to defend this nearby support, but without much conviction. The change in OI has been heavily skewed, with Call OI rising by 110 million against only 18.6 million on the Put side, keeping the trend bias firmly negative. Overall, the Nifty has entered a decisive bearish phase, with both price action and options data pointing to further downside. The negative crossover of the 20-day SMA below the 40-day EMA adds weight to the bearish case. Until the index reclaims at least 24,500–24,580 on the hourly chart and 24,884 on the daily chart, any move higher is likely to be a short-lived pullback. Immediate support lies at 24,300-24,250, and a break below this could open the gates for a move toward 24,000, where an unfilled gap still exists. For now, the strategy remains to sell on rises toward resistance zones, keeping a stop-loss above 24,880 on a closing basis, and to avoid aggressive longs until the trend shows a confirmed reversal backed by strong volumes. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
07-07-2025
- Business
- Hans India
As long as Nifty trades above 25000, avoid short positions. Stay with a cautiously positive bias
TheNifty has ended a two-week winning streak and consolidated mainly in the range. After trading in a 337-point range, the Nifty closed down by 176.80 points or 0.69 per cent. The BSE Sensex too declined by 0.74 per cent. The Broader market indices outperformed as the Midcap-100 is up by 0.49 per cent, and Small-cap-100 is advanced by 0.30 per cent. On the sectoral front, the Nifty Realty is up by 0.91 per cent. Pharma and IT are up by 0.81 per cent and 0.80 per cent, respectively. On the flipside, the Nifty Metal is down by 0.45 per cent, and Auto declined by 0.10 per cent. The India VIX is down by 0.59 per cent to 12.32. FIIs sold Rs5,773.06 crore and DIIs bought Rs4,111.98 crore in the first week of this month. As we suspected last week, the Nifty entered into a counter-trend consolidation. During the last week, it formed all lower low and lower high candles. The volumes declined, which is a characteristic pattern. The index traded and remains in the well-defined range 25000-25650. As the index formed an open-high candle on a weekly time frame, expect more consolidation and range-bound trade, which may not develop a decisive directional bias. The earnings season begins next week; expect more stock-specific action and sector rotation. The earnings may give any positive surprises, as revenues may hit in the first quarter. The Nifty must take out the 25650-670 zone of resistance to resume the uptrend. The current counter-trend consolidation is just five days old and may continue for another three days. In any case, the consolidation registers a breakout, expect a trending move towards the new all-high. On the flipside, the Nifty must protect the 24891, which is 10-week average, which is the nearest strong support. Before that, the 20DMA of 25165 may act as a support. Because of the ongoing consolidation, the momentum is waning. The MACD histogram shows a significant decline in the momentum. The RSI is on the 60 support on the weekly and daily time frames. There are no divergencies visible on any time frame. The Mansfield Relative Strength line is below the zero line and shows an underperformance compared to the broader market. The Relative Rotation Graphs (RRG) show that all the sectoral indices are losing momentum. The PSU Bank and Midcap-100 indices were in the leading quadrant and will outperform the broader market compared to the Nifty-500 index. The IT, Energy, Media, Realty, and Auto indices are in the improving quadrant. If they improve the relative strength and momentum, they may enter the leading quadrant in the near future. Focus on IT sector earnings. The other sectors are losing their momentum. Overall, the market may consolidate further during the next week. The earnings are crucial for a trending move. Any disappointments in the leading companies may lead to the breakdown. As long as Nifty trades above 25000, avoid short positions. Stay with a cautiously positive bias. (The author is partner, Wealocity Analytics, Sebi-registered research analyst, chief mentor, Indus School of Technical Analysis, financial journalist, technical analyst and trainer)
Business Standard
01-07-2025
- Business
- Business Standard
Indices edge higher; breadth strong
The domestic equity indices traded with moderate gains in early trade, driven by optimism over a potential US-India trade deal and positive global cues. Continued inflows from foreign institutional investors further boosted market sentiment. Investors will monitor monthly auto sales data and few economic data this week The Nifty traded above the 25,550 mark. Oil & gas, realty and IT shares advanced while PSU Bank, media and metal stocks declined. At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 188.01 points or 0.22% to 83,796. The Nifty 50 index added 58.75 points or 0.23% to 25,570.65. In the broader market, the S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index jumped 0.19%. The market breadth was strong. On the BSE 1,961 shares rose and 921 shares fell. A total of 177 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.01% to 12.65. Foreign portfolio investors (FPIs) sold shares worth 831.50 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,497.44 crore in the Indian equity market on 30 June 2025, provisional data showed. Economy: Indias industrial output growth fell to a nine-month low of 1.2% in May 2025, dragged down by weak performance in the manufacturing, mining, and electricity sectors, data released by the National Statistical Office (NSO) on Monday showed. The factory output, measured by the Index of Industrial Production (IIP), had grown 6.3% in May 2024, while the April 2025 estimate has been revised to 2.6%, slightly down from the earlier 2.7%. According to the data, manufacturing which forms over three-fourths of the IIP grew 2.6% in May, down from 5.1% a year ago. Mining output shrank 0.1%, reversing a 6.6% expansion in May last year. Electricity generation saw a sharp contraction of 5.8% compared to a robust 13.7% growth a year ago. India's gross collection of goods and services tax (GST) hit an all-time high of Rs 22.08 lakh crore in the financial year 2024-25, marking a 9.4% year-on-year (YoY) growth compared to the previous financial year, according to an official statement on Monday, 30 June 2025. On 1 July 2025, India will mark the completion of eight years since the implementation of the GST. Indias fiscal deficit for the first two months of FY26 stood at Rs 13,163 crore, or just 0.8% of the full-year target of Rs 15.69 lakh crore, according to data released by the Controller General of Accounts on Monday. The year-ago deficit for the same period was significantly higher at Rs 50,600 crore. Stocks in Spotlight: Hindustan Copper (HCL) shed 0.36%. The company has executed a MoU with Coal India (CIL) to jointly identify and evaluate opportunities in copper and critical minerals sectors, and to explore participation in partnerships with renowned global companies in these sectors. Bharat Electronics (BEL) advanced 0.71%. The company has secured additional orders worth Rs 528 crore. The order received includes radars, communication equipment, EVMs, jammers, shelters, control centre, spares, services etc. Can Fin Homes rose 0.16%. The companys board approved the appointment of Abhishek Mishra as the chief financial officer (CFO) for a period of 3 years from 30 June 2025. Prashanth Joishy has stepped down from the position of Interim Chief Financial Officer (CFO) with effective from 30 June 2025. He will continue to be on the rolls of the company as deputy general manager. Numbers to Track: In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5825 compared with its close of 85.7600 during the previous trading session. MCX Gold futures for 3 October 2025 settlement rose 0.65% to Rs 97,550. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 96.71. The United States 10-year bond yield added 0.29% to 4.214. Global Markets: Most Asian shares advanced on Tuesday as investors evaluated record highs on Wall Street and the potential global effects of U.S. President Donald Trump's tariff policies. The 90-day tariff reprieve is set to expire next week. U.S. Treasury Secretary Scott Bessent stated on Monday that "countries are negotiating in good faith." However, he cautioned that tariffs could return to the levels announced on April 2 if talks do not progress due to what he described as "recalcitrant" behavior. Hong Kong market remained closed for a public holiday. In mainland China, the Caixin Manufacturing PMI rose to 50.4 in June, a significant improvement from Mays reading of 48.3. A PMI reading above 50 indicates expansion. This data follows the official government PMI, which showed a third consecutive monthly contraction in Chinese manufacturing activity for June. On Wall Street, the S&P 500 gained 0.52% to close at another record high. The NASDAQ Composite rose 0.47%, also reaching a new peak, while the Dow Jones Industrial Average climbed 0.63%. The gains were supported by news of a trade agreement between the United States and China. The agreement raised optimism that further trade deals could be finalized before the July 9 deadline set by President Trump. Investor sentiment also received a boost after Canada withdrew its digital services tax on technology companies. The tax was scheduled to take effect within hours but was suspended in an effort to revive trade discussions with the United States. President Trump had previously cited the tax as a barrier to negotiations. Canadian Prime Minister Mark Carney and President Trump are now expected to meet with the goal of finalizing a trade agreement by July 21.
United News of India
27-06-2025
- Business
- United News of India
Sensex rises by 131.42 points
Mumbai, June 27 (UNI) The BSE Sensex today rose by 131.42 points to 83,887.29 in early trade, tracking positive cues from global peers. Amid cooling crude oil prices, traders said The Nifty too advanced by 50.10 pts to 25,599.10. Sensex registered intra-day highs and lows at 83,985.09 and 83,682.41, respectively. The Nifty registered a day's high at 25,622.50 and a low at 25,537.35 pts. Midcap rose by 151.53 points, and small cap advanced by 233.31 pts. All sectoral indices barring BSE Financial, which was marginally down by 0.08 pc, are trading with a positive bias. Sectoral gainers were BSE Commodities by 0.58 pc, Energy by 0.67 pc, FMCG by 0.08 pc, Health care by 0.29 pc, Industrial by 0.61 pc, IT by 0.48 pc, Telecom by 0.42 pc, Utilities by 0.58 pc, Auto by 0.34 pc, Bankex by 0.02 pc, Capital Goods by 0.51 pc, Consumer Durables by 0.51 pc, Metals by 0.97 pc, Oil & gas by 0.71 pc, Power by 0.59, Realty by 0.08 and Teck by 0.48 pc. Sensex gainers were Tata Steel by 1.50 pc to Rs 162.90, SBIN by 1.13 pc to Rs 806.00, LT by 1.10 pc to Rs 3,700.80, NTPC by 1.08 pc to Rs 340.80 and Axis Bank by 0.83 pc to Rs 1,244.65. Sensex losers were HDFC Bank by 1.28 pc to Rs 1,997.60, Bajaj Finsv by 0.70 pc to Rs 2,038.05, Kotak Bank by 0.64 pc to Rs 2,190, Eternal by 0.47 pc to Rs 263.90 and Titan by 0.28 pc to Rs 3,683.90. UNI JS ARN
