BUSINESS
Budget 2024: Pre-budget avoid aggressive directional strategies, says Chavan of Angel One
Since it's an interim budget, major reforms are not expected. Global developments may provide directional triggers.
BUSINESS
Dr Reddy’s Laboratories on the verge of breakout, sees strong short-covering
Significant short covering is observed in Dr Reddy's scrip, with a 4.28 percent surge in the January series future. There is also a notable 3.33 percent decline in cumulative Open Interest (OI) across the current, next, and far series. Call open interest is concentrated at the 6000 and 6100 strikes, while put open interest is prominent at the 5800 strike.
BUSINESS
Sula Vineyards rebounds from support zone, signals upside
Sudeep Shah of SBI Securities recommend accumulating the stock in the Rs 666-660 zone with the stop loss of Rs 635
BUSINESS
F&O Manual | Indices trade with persistent weakness, Nifty to expire in 21,330-21,470 range
Bank Rollovers on D-1 day are at 57 percent - a tad lower than its 3 months average rolls of 62 percent. It is crucial for Bank Nifty to contribute positively for the overall health of the markets. The expected expiry for Nifty is in the range of 21330 to 21470, while for Bank Nifty, it implies a range of 45450 to 44650.
BUSINESS
Budget 2024: What rollover data suggests for pre–budget positioning, and key tips for traders
Market participants are closely monitoring the upcoming Interim Budget 2024, slated to be unveiled by the Finance Minister on February 1. Soni Patnaik of JM Financial provides insights on pre-budget positioning
BUSINESS
F&O Manual | Indices trade flat, experts suggest sell on rise until Nifty breaches 21,450
Nifty 21300 and 21200 levels have seen call writers unwinding their positions along with significant put writers additions. The range is expected to be around 21200-21460 to be range till monthly expiry.
BUSINESS
Nifty, Bank Nifty turn green after gapdown open; rollover data suggests negative sentiment lingers
Rollover data from JM Financial shows that Nifty rollovers were at 46 percent with a 0.8 roll cost, compared to 52 percent in the last series, indicating unwinding of long positions. Bank Nifty rollovers were 42 percent with a 0.9 roll cost, compared to 51 percent in the last series, indicating long unwinding.
BUSINESS
As Bank Nifty closes at 45,000; support shifts down to 44,000; 'Sell on Rise', say experts
Experts advise sell-on-rise strategy. Traders don't expect an immediate recovery and say the market will stay bearish in the coming days
BUSINESS
F&O Manual | Indices slump as corrective momentum stays, Nifty sees support at 21,200
As of 1:06pm, the Sensex was down by 619.31 points or 0.87 percent at 70,804.34, and the Nifty was down 198.10 points or 0.92 percent at 21,373.70
BUSINESS
Budget 2024 | Pre-budget positioning and tips for traders
Chandan Taparia advises traders to hedge positions. One can initiate a bull call spread on the Nifty by buying a 21,500 call and selling a 22,200 call to play the swings of a 700-point upside by paying a nominal margin and a lesser premium amount, he says
BUSINESS
Saturday trading mood: Lack of volume, spikes on counters and abrupt option pricing on expiry shift
The market mood remained abrupt as some traders discovered that the sudden announcement of a full-day trading session affected their trading strategies. The premium pricing behavior was also abrupt, as the market had not discounted the preponed session
BUSINESS
F&O Manual | Indices trade marginally higher, neutral candlestick shows indecisiveness in Nifty
Nifty formed a neutral candlestick at the bottom, reflecting indecisiveness among buyers and sellers. Crucial support is positioned at 21,500–21,400, while resistance is situated at 21,800–21,850
BUSINESS
The bull market today is no different from what is it was in 1992: Nilesh Shah
At the AIBI Annual Convention 2023-24, on January 19, the managing director of Kotak Mutual Fund stressed on the key challenges of mismatch between the number of IPOs and the issue size
BUSINESS
F&O Manual | Benchmark indices gain, Nifty may resume uptrend if closes above 21,550
In Bank Nifty weekly closing today is important. As per experts, if it is above 46500, then some respite can be seen in the next week. However, if it closes below 45500 today, it will open gates for more downside, and simultaneously, Bank nifty can drag down markets.
BUSINESS
Hudco on the verge of breakout, technical analyst recommends 'buy' in Rs 136-138 zone
Currently, Hudco is on the verge of a consolidation breakout. Shah emphasizes that yesterday, the stock witnessed above-average volume, a sign of accumulation before an actual breakout occurs.
BUSINESS
F&O Manual | Indices recover, Nifty's upside hurdle shifts to 21,700, key support at 21,300
As per analysts, the correction is likely to continue up to 20950-21000 but not linearly. There will be phases of dead-cat bounces from intermediate trading support levels. On the upside, it is unlikely that Nifty tests a new ATH at least in the Jan series. Immediate resistance has moved lower to 21850, above which 22100-150 will pose as a strong hurdle for the month.
BUSINESS
UPL signals 'sell' after trendline break down
The stock has underperformed the frontline indices over the last couple of months. Experts recommend selling the stock the Rs 555-550 zone. The stock can slide to Rs 520 in the short term
BUSINESS
F&O Manual | Nifty down 300 points; short-term weakness likely below 21,550 levels
Nifty is currently trading below its 10 Day EMA positioned at 21780 and is heading towards its 20 Day EMA in the 21550-21600 zone, which could serve as a crucial support level. Positionally, if 21550 is breached, the Index may revisit the lower support zone around 21430-21350.
BUSINESS
Bank Nifty plunges 1,500 points down on HDFC Q3 results; traders watching 46,500 support
Analysts say if Bank Nifty index fails to close above 47,500, it can slide towards 46,000. Support is at 46,500
BUSINESS
F&O Manual | Nifty trades in a range, strong support placed at 22,000 levels
Options data points towards a continuation of the rally to test higher levels of 22300 and 22500. Immediate trading support stands at 22000-21900. A positive view negates only below 21700.
BUSINESS
Where are Reliance Industries, Jio Financial shares headed ahead of results: Check target, support
RIL and Jio financial services are both likely to see a continued bullish momentum ahead of results, say experts.
BUSINESS
F&O Manual | Nifty surpasses 22,000, experts say next stop 22,222
JM financial believes the rally is likely to persist and will eventually test the resistance level of 22,222
BUSINESS
82% of India's stock brokers set to invest in cybersecurity for enhanced business resilience
In a recent survey by The Association of National Exchanges Members of India (ANMI), 82.3 percent of Indian stockbrokers plan to invest in cybersecurity. The findings reflect a shift to digital operations, with 25–50 percent of businesses going digital.
BUSINESS
As Nifty tops 21,900, what should 22,000 call writers do – square off, adjust or hold?
If the Nifty closes above 21,800, then it is likely to test 22,000 on an immediate basis. Analysts say traders who are shorting the market should square off the position at the current market price or on a minor pullback
