StockEdge Morning Market Update - 17th September

The Nifty 50 Nifty gained 27 points yesterday to close at 25383.75. It was a quiet session where the index moved in a 40 point range. Energy , Bank Nifty and the metal stocks were amongst the top gainers. The advance declines were absolutely neutral. Once again it was specific stocks which were in action. The alcohol and the breweries sector gained momentum and strength yesterday. Bank Nifty ourperformed overall markets and saw a good trading session with strength.

Technically - from the index point of view, the index has just tried to absorb the gains of last thursday. The Nifty is in the consolidating mode since two trading sessions. Though the individual stocks are performing. There is no change in the chart setup. So the view point remains the same. 25100-150 remains as the immediate support while 24850 acts as the base.On the upside - 25500 is where gradually the index is heading to.

Coming to sectors - Nifty Metal Metal index is near its previous swing high resistance and has formed a doji candle pattern. A renewed momentum will be seen only when it crosses 9500 on closing basis. So be cautious in this space. Bank Nifty from strength - is looking to head to 52650 + levels . Immediate support lies at 51900.

Dow has hit a new high yesterday while the dollar index continues to move down further near the 100.6 levels.

To conclude - It is a stock specific market - and using StockEdge app - filter out sectors with relative strength and momentum for opportunities.

Nifty
Support 25300, 25100
Resistance 25440, 25500

Bank Nifty
Support 51930, 51640
Resistance 52350, 52650

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The 2-Day FOMC meet to begin today as markets eagerly await the Fed’s decision on interest rates. Ahead of the policy, Indian markets remained flat yet positive and traded in a narrow range. Nifty 50 consolidated near its ATH levels and was able to sustain above 25400. The market is already expecting a 25 basis point cut but there has been an increased expectation of a 50 basis point cut which should have a positive impact on our markets.

Nifty Bank has been making higher highs despite trading in a narrow range and is slowly forming a strong support base at 52000. It is however facing rejection from near its resistance of 52340.

Sector-wise, the top loser is Nifty Media that lost 🔻 (1.2%) in today’s trading session.

Top gainer from Nifty 50 was Hero MotoCorp Ltd. 🔼 (3.2%) and the top loser was Tata Motors Ltd. 🔻 (-1.3%) in today’s trading session.

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StockEdge's Morning Market Update - 18th September

The Nty gained 38 points to close higher at 25418.5. Almost all sectors ended flat, with a few minor losses and a few gains. The entire market moved again in a tight 40-point range. It’s the third consecutive trading session with markets in consolidation mode.
Basically the markets are absorbing the gains - which is typically a characteristic after a large trending move. The candlestick formed is a small ranged Doji Pattern. The broader markets was also neutral.

Technically - The market is just doing “Time Pass”. It's going through time correction, where the bulls and bears both access each other before the next move. The moving averages are beautifully supporting the price action. Indicators are overall well placed. We must remember all this consolidation is happening just near the mentioned important resistance figure of 25500. The index is just at the doors of it. Hence the more this consolidation holds value.
We have the US interest rates decision tonight , to which Indian markets to react in tomorrow’s session. Based on the street expectations , and alos the price action - there aint any surprises expected in it. Support lies at 25300 and 24950 now.

It is still the stock specific opportunities which prevail in the markets.

To conclude - stay stock specific with overall trend and market direction on the bullish side.

Nifty
Support 25300, 25100
Resistance 25440, 25500

Bank Nifty
Support 51930, 51640
Resistance 52350, 52650

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The markets eagerly await the Fed’s decision on interest rates and ahead of the policy outcome, Indian markets remained highly volatile. Nifty 50 was seen making fresh record highs at 25482 but profit booking was seen from there and index has given a close below 25400. The Fed Chairman’s interest rate decision and his commentary thereafter shall decide the further movement of the overall markets.

Nifty Bank at its weekly expiry gave a strong up move but faced hurdle near the key level of 53000. Technically, the index has given a strong close with an indication of its intention to move higher but the key event today shall have an impact on its movement.

Sector-wise, the top loser is Nifty IT that lost 🔻 (3.1%) in today’s trading session.

Top gainer from Nifty 50 was Shriram Finance Ltd. 🔼 (4.4%) and the top loser was Tata Consultancy Services Ltd. 🔻 (-3.5%) in today’s trading session.

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StockEdge's Morning Market Update - 19th Sept

The Nifty lost 41 points over the day to close at 25377. The market started well and made new life highs but just could not follow-up. Bank Nifty was amongst the top performers that was helping the Nifty while IT was one of the top losers. The broader markets were on the negative side. ,

Technically, the index almost tested our mentioned target zone and resistance of 25500 yesterday. For the last four days the index has been stuck just below this resistance. Yesterday was again a doji-like candle hinting the bears and the bulls both in action, but the verdict is not out yet. The FED yesterday reduced the interest rates by 50 Bps. The US indices on this news did spike upwards but couldn't sustain and closed at the low of the day. 25300 on a closing basis remains the immediate support, and on the break of this, we may see a continued dip to 24950 levels. Note that in the past, all dips have been bought into, and moving averages have bailed out bulls. In hindsight, - the 25500 - 600 zone is the resistance zone. A close above will trigger fresh momentum and opportunities for the Bulls.

Coming to Sectors - Bank Nifty has given an encouraging move along with the financial sector - so both these sectors should act as a catalyst for the index to stay firm and go higher. Coming to broader markets, be careful and picky in stocks, as there are opportunities, but focus on relative performance and momentum. The PSE sector is definitely an underperformer - and avoid any kind of bottom fishing in this space. Positive pockets remain as housing finance sectors which has opportunities.

To conclude, the index is hovering just at the resistance level. Do not be aggressive here.

Nifty
Support 25280, 25100
Resistance 25500, 25600
Bank Nifty
Support 52450, 52250
Resistance 52900, 53250

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Indian markets cheered the 50 basis point rate cut by the Fed but it was short lived as markets witnessed profit booking. Nifty 50 made fresh record highs at 25611 but profit booking was seen from there and index gave a sharp down move, dropping nearly 1% intraday, from the life high level. The index has not been able to sustain the level of 25500, though some recovery was seen in the last 30 mins.

Nifty Bank was relatively stronger and did re-test its life high level of 53357 but the bulls were not strong enough to create new records. The index consolidated around the key level of 53k but the last half hour saw it regaining its upward momentum which led to a close above the level of 53000.

Sector-wise, the top loser is Nifty Media that lost🔻(2.5%) in today’s trading session.

Top gainer from Nifty 50 was NTPC Ltd.🔼(2.4%) and the top loser was Bharat Petroleum Corporation Ltd. 🔻(-3.5%) in today’s trading session

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StockEdge's Morning Market Update - 20th Sept

The Nifty gained 38 points over the day to close at 25415. The index got into corrective mode in the second half and just managed to close in the green. The index kept steady - the pain was felt in the broader markets and mostly the smallcap and midcap index. The PSE sector was the worst hit as expected. Bank Nifty was the top gainer which kept the Nifty maintained. There was clearly a lot of damage in the broader markets.

Technically, based on international indices - the index opening was higher and it touched 25600 levels - but couldnt sustain. Clearly this 25500 - 600 zone is where index is finding some supply.

Coming to indicator study - the RSI has been flat for a while , and MACD in the buy mode - but flattish curve. Considering the strong trading sessions in the international US markets , we may see the testing of 25612 ( yesterday’s high ) . The real test is the closing above this number. If we get a close abv this number - fresh higher targets will open up for the index. 25300 remains the immediate support levels.

Coming to sectors - Bank Nifty has been an outperformer the entire last week post the break out at 51750 level. The index is back at its all time high levels of 53350. Once this is cleared more upside would open up. The Financial sector also remains positively placed.

To conclude - The index is near the resistance zone. Today’s closing is important to check the sustainability of this entire rally .

Nifty
Support 25300, 25230
Resistance 25500, 25600

Bank Nifty
Support 52850, 52650
Resistance 53350, 53500

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#DailyMarketInsights

Indian markets hit record highs post Fed rate cut, with Nifty 50 and Nifty Bank reaching new highs. The markets closed positively and bullishly, with Nifty Realty as the top gainer.

Nifty Bank made fresh record highs at 54066 and tested another landmark level of 54000. The last half hour saw the index give a smart move and it was in a rush to test the level of 54000 which it did successfully.

The markets closed positively and bullishly. It will be interesting to see where it's headed as we enter the last week of September expiry next week.

Sector-wise, the top gainer is Nifty Realty that gained 🔼 (3.7%) in today’s trading session.

Top gainer from Nifty 50 was Mahindra & Mahindra Ltd. 🔼 (5.3%) and the top loser was Grasim Industries Ltd. 🔻 (-2.3%) in today’s trading session.

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StockEdge Weekly Wrap-up (16-20 Sep)

Nifty 50 closed 1.6% higher, led by Bank Nifty's 3.9% jump. Realty, Bank, and Auto sectors shined, while IT, Oil & Gas, and PSE lagged. Gold prices surged due to Fed's rate cut.

Read more here: https://x.com/mystockedge/status/1837110426632417553