Nifty’s Shooting Star Candle Signals Bull-Bear Battle!

NiftyTrader • July 26, 2023

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Index	Price	Change	% Chg
Nifty 50	19,778.30	+97.70	+0.50%
Nifty Bank	46,062.35	+217.35	+0.47%
BSE SENSEX	66,707.20	+351.49	+0.53%

At the close, the Nifty 50 was at 19,778.30 up by 0.50%

Today’s trading session saw the NSE Nifty 50 open on a positive note, commencing at a higher value. As the day progressed, it showed an impressive upward movement of 0.50 percent, eventually closing in the green. Notably, the Nifty index remained above the significant mark of 19,750 throughout the trading day. This bullish trend reflects the market’s optimism and indicates potential opportunities for investors seeking profitable ventures.

Today, the market is experiencing a remarkable resurgence of positive sentiment after three consecutive days of consolidation leading up to the FOMC meeting. As uncertainty surrounding monetary policy is expected to ease in the coming days, the likelihood of another Fed rate hike in 2023 appears improbable.

This change in market expectations can be mainly attributed to the swift decrease in inflation and the projected continued decline in the future. However, it’s crucial to note that short-term interest rates are anticipated to remain high due to the persistence of core inflation above historical norms.

Foreign Institutional Investors/Foreign Portfolio Investors (FII/FPI) transactions stand as follows: The total value of their purchases amounts to Rs. 8,700.87 Cr., while the value of their sales is Rs. 7,778.03 Cr., resulting in a net value of Rs. 922.84 Cr.

On the other hand, Domestic Institutional Investors (DII) have engaged in transactions with a total purchase value of Rs. 7,529.42 Cr. and a sale value of Rs. 7,059.32 Cr., culminating in a net value of Rs. 470.10 Cr.

Bank Nifty: Up by 0.47%

Bank Nifty exhibited a positive start, opening in the green. This came as a much-needed rebound after experiencing a decline over the past five days. The index demonstrated a commendable recovery, closing with a substantial gain of 0.47 percent at 46,062.35. On a similar note, the BSE Sensex also witnessed a positive surge, rising by an impressive 0.53 percent and closing at a high value of 66,707.20. These encouraging developments highlight the resilience of the Indian stock market and present promising opportunities for investors seeking profitable outcomes.

In today’s sectorial performance, Realty emerged as the top gainer, registering a significant increase of 1.19%. Among the companies in this sector, Sobha Limited demonstrated remarkable growth, gaining by an impressive 9.97%, while Mahindra Lifespace Developers Limited also showed a positive trend with a gain of 3.07%.

On the other hand, Consumer Durables experienced a decline, becoming the top loser today, with a decrease of 0.31%. Within this sector, Kajaria Ceramics Limited faced a notable downturn, losing -5.12%, while TTK Prestige Limited also witnessed a decrease in value, with a loss of -0.74%.

Bank Nifty

The Nifty Banking sector had some gainers and some losers for the day.

The gainers included Punjab National Bank with a 4.12% increase, IDFC First Bank with a 1.81% increase, Axis Bank with a 1.37% increase, Bandhan Bank with a 1.28% increase, and Federal Bank with a 1.21% increase. On the other hand, the biggest losers in the sector included HDFC Bank with a 0.43% decline. These results suggest that some banking stocks performed better for the day.

Buzz

On Wednesday, global stocks experienced a decline as investors exercised caution in anticipation of an impending US Federal Reserve interest rate hike, which could potentially reach levels not seen since the global financial crisis.

In the currency market, the Indian rupee faced depreciation, falling 13 paise to settle at 82.01 against the US dollar on Wednesday. This decline was influenced by elevated crude oil prices in international markets and heightened demand for dollars from importers at the month-end.

Early trade on the same day saw the rupee further depreciate by 7 paise to 81.95 against the US dollar, reflecting the ongoing volatility and uncertainties in the foreign exchange market.

Buzzing

Larsen & Toubro Ltd. witnessed a positive surge in its share price, experiencing a remarkable increase of 3.56% from its previous closing value of Rs 2,560.90. Currently, the stock is trading at Rs 2,652.00. Over the past three years, investors enjoyed a significant return of 183.16%, surpassing the Nifty 100’s return of 72.96%. Notably, the company’s annual revenue growth stands at an impressive 17.31%, outperforming its 3-year Compound Annual Growth Rate (CAGR) of 7.93%.

On the other hand, Bajaj Finance Ltd. faced a slight dip in its share price, experiencing a decrease of -1.74% from its previous closing value of Rs 7,606.45. The stock’s last traded price now stands at Rs 7,474.00. Over the last three years, investors witnessed a commendable return of 133.91%, compared to Nifty 100’s return of 72.96%. Furthermore, Bajaj Finance Ltd. exhibited an outstanding annual revenue growth of 30.86%, surpassing its 3-year CAGR of 16.03%. These insights highlight the performance of both companies in the market and present valuable data for potential investors seeking informed decisions.

Advance Decline Ratio

Today, the advance-decline ratio was 1.20, and the market breadth was positive. The volatility index India Vix increased by 2.09 percent to settle at 10.46 and the FIIs were net buyers today.

DAILY MARKET ACTION
Advancers – 5797
Decliners – 4849
52Wk High – 147
52Wk Low – 15
High Band Hitters – 74
Low Band Hitters – 32
200d SMA – 18144
50d SMA – 18951
20d SMA – 19520

Top Gainers and Losers Stocks

The top gainers were LT (+3.56%), Cipla (+2.30%), ITC (+2.18%), Britannia (+1.93%), and Sun Pharmaceutical (+1.68%).

The top losers were Bajaj Finance (-1.74%), Bajaj Finserv (-1.37%), M&M (-1.27%), Apollo Hospitals (-1.25%), and Tech Mahindra (-1.08%).

Top Gainers and Losers Sector

The top gainers sectors were Realty (+1.19%), FMCG (+1.05%), Media (+0.93%), Pharma (+0.66%), and Oil & Gas (+0.63%).

The top losers sectors were Consumer Durables (-0.31%), and Auto (-0.01%).

The Nifty Midcap 50 was up by 0.56 percent, while the Nifty Small Cap 50 was up by 0.66 percent on the day.

The Nifty Midcap 50 index currently closed at 10,562.15, while the Nifty Small Cap 50 index currently closed at 5,221.70.

SECTORS – NOTABLE ACTION
REALTY +1.19%
FMCG +1.05%
MEDIA +0.93%
CONSUMER DURABLES -0.31%
AUTO -0.01%

Stocks Ban List

(SEBI) F&O ban list (RBLBANK open at +225.25 and close at +239.20), (DELTACORP open at +193.45 and close at +195.60), (SUNTV open at -537.00 and close at +540.80), (CANBK open at -335.05 and close at +337.30), and (IBULHSGFIN open at -120.95 and close at +125.70) are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned RBLBANK, DELTACORP, SUNTV, CANBK, and IBULHSGFIN from trading in the futures and options (F&O) segment of the stock exchange.

A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO ) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.

ZEEL, BHEL, HINDCOPPER, and MANAPPURAM are stock that are potentially facing the possibility of being included in the ban list.

CANBK, and IBULHSGFIN has the possibilities of exit from ban list.