The market closed with a weakness of more than 0.50 percent in yesterday’s trading on April 5. At the same time, the market had run more than 3 percent in its last three trading sessions. However, in yesterday’s fall also, the rise of small-medium stocks continued and Nifty Midcap and Smallcap closed with a gain of 1.4 per cent and 0.85 per cent. Banking and financial stocks were the biggest losers in yesterday’s fall. Sensex closed at 60,176 level by falling points. At the same time, Nifty went below the crucial level of 18000. Nifty lost 96 points yesterday and closed at 17957 level. Nifty formed a bearish candle on the daily chart yesterday.
Nagraj Shetty of HDFC Securities Says that in addition to the long bull candle of the last trading session, we saw a negative candle forming on the daily chart. This is a sign of slight profit recovery in the market from the upper levels. Tuesday’s weakness hasn’t hurt Badar’s recent uptrend so far and it remains in place.
Nagraj Shetty further said that it seems that the bullish trend in the market has stopped a bit and Nifty has come into a mode of profit-taking. However, no major downside is expected from here. However, in the next few trading sessions, Nifty can be seen trading in the range of 18,200-17,800. On the upside, resistance is visible for Nifty at 18,200 and it will eventually see a breakout.
Shares of ONGC and Oil India slipped by 9-12% from their peak, know whether there is an investment opportunity?
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. Please note here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.
Key support and resistance levels for Nifty
The first support for Nifty is located at 17887 and after that the second support is located at 17818. If the index turns upwards, then it may face resistance at 18,061 then 18,165.
The first support for Nifty Bank is located at 37749 and after that the second support is located at 37431. If the index turns upwards, then it may face resistance at 38,573 then 39,078.
Pressure on US, Asia and SGX NIFTY
There are bad signals from the global market. Initial pressure remains on Asia. SGX NIFTY has also slipped 120 points. Ahead of the Fed Minutes release, US markets have shown a decline. The NASDAQ is down more than 2 percent. On the other hand, the 10-year US bond yield has reached an all-time high of 2022.
US market rolled after Fed’s statement on interest rate
The Fed’s statement said that the priority is to rein in the 40-year high inflation. Quickly reduce the balance sheet. After this statement the US market fell. Yesterday the most tech stocks hit the US market. On the other hand, when it comes to commodities, crude oil and gold prices remained sluggish. US futures are seeing slight gains. The 10-year US bond yield is seeing an all-time high of 2022. Coal prices are up by more than 6%.
Possible new sanctions on Russia
America is preparing to impose new sanctions on Russia. The EU can impose sanctions on coal imports and financial institutions. The US will provide additional military aid of $100 million to Ukraine.
Tata Steel production hits new peak in Q4
Tata Steel’s crude steel production reached a new peak in the fourth quarter. It has increased by 13%. At the same time, there has been a growth of 6% in the delivery of the company in the country.
MARICO revenue growth likely to slow in Q4
MARICO has provided a cautious update in the fourth quarter. According to which the company’s revenue growth can be 2 to 3 percent in this period. Demand has been sluggish. Margins have not been affected even by increasing the prices of many products. There is a slight increase in the profits of the company.
Petrol and diesel prices hiked again today
Petrol and diesel prices have increased again today by 80 paise. Prices have risen 14 times in the last 15 days. CNG has also become expensive. Its price has increased by Rs 2.5 per kg.
FII and DII figures
On April 5, foreign institutional investors bought Rs 375 crore in the Indian markets. At the same time, domestic institutional investors bought Rs 105 crore on this day. Talking about FII’s activity in F&O, on April 5, FII sold Index Futures worth Rs 358 crore. At the same time, he bought Rs 4578 crore in index option. FII sold Rs 1767 crore in Stock Futures.
Stocks coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 6th April. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.