Chris Wealth Management

Exhibiting a robust recovery from the 47500 support level, Bank Nifty showcases active bullish activity, rebounding from the 14-day moving average support at 47800. A closing above 48200 is crucial, as it could propel the index towards 48500 and 48800 levels. The immediate support for Bank Nifty stands at 47800, indicating a key level to monitor in the current market scenario.

Following a rapid rebound from its positional support at 21500, bullish activity has resumed in the market, with buying interest evident during dips. The prevailing sentiment is bullish, but Nifty encounters initial resistance at 21750, facing selling pressure. Immediate support rests at 21600. A conclusive close above 21750 levels could propel Nifty towards the 22000 mark, signaling further upward movement.

The market ended on a flat note, tracking weak global cues, with the US 10-year yield edging higher ahead of the release of US payroll data later today, which may shape the expectation for the FED policy. Investors are also staying cautious ahead of eurozone inflation data today. On the domestic front, the market is moving towards the results season, and we expect the exuberance of the broader index may be tested if the December quarter earnings do not justify the valuation.

Rupee rises 1 paisa to 83.23 against US dollar in early trade.

Easing rates may pull down India 10-yr yield to 6.75%, short-term set for bigger falls: PNB Gilts

Stock Market LIVE Updates: Kalyan Jewellers on Friday said it will open its 250th showroom in Ayodhya, Uttar Pradesh, in the current quarter. In a regulatory filing, the Kerala-based jewellery firm said it plans to open additional 30 showrooms in the ongoing fourth quarter of 2023-24 fiscal in India and the Middle East.

Mobikwik refiles draft papers with Sebi to raise Rs 700 crore

Invesco raises valuation of Indian food delivery firm Swiggy to $8.3 billion

Gold set for first weekly fall in four; US jobs data in focus

European stocks drop at open

Sensex Today | Stock Market LIVE Updates: Kaveri Seed Company approves proposal for buyback of equity shares

Stock Market LIVE Updates | GAIL (India) and Vital Asia sign of a longterm LNG deal into India for a supply of approximately one million metric tons of LNGper annum for a period of about 10 years, commencing 2026.

Sensex Today | Stock Market LIVE Updates: Alembic Pharmaceuticals Says Still In Process Of Restoring Facilities At Namthang, South Sikkim

Stock Market LIVE Updates | Rajapalayam Mills approves acquiring shares of Ramco Cements from member of promoter group for consideration value of up to Rs 16 crore

Japanese shares end higher as automakers gain on weaker yen

Crypto Price Today: Bitcoin trades near $43,700; Internet Computer plunges over 7%

Gautam Adani is back as India's richest billionaire, beats Mukesh Ambani

Sensex Today | Stock Market LIVE Updates: Shares of Century Textiles and Industries have surged over 20% in two sessions after the Aditya Birla Group company informed exchanges about a clutch of investors visiting its flagship real estate project 'Birla Niyaara' on Thursday.

Sensex Today | Stock Market LIVE Updates: Realty firm Sobha Ltd has reported a 37 per cent increase in sales bookings at Rs 1,951.6 crore in the third quarter of this financial year, mainly on the back of strong housing demand in Bengaluru. Its sales bookings stood at Rs 1,424.7 crore in the year-ago period.

Sensex Today | Stock Market LIVE Updates: Block deal in Tata Steel: 97.7 lakh shares traded

Sensex Today | Stock Market LIVE Updates: Edelweiss Financial Services announces Rs 2,500million Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs)

India bond yields see another uptick as rising US peers hurt demand

Sensex Today | Stock Market LIVE Updates: KPI Green Energy Got New Orders Of 3 MW

Even though a low VIX is usually accompanied by stability or a rising index, it is usually a worrying sign, as it suggests that traders are less prepared for unforeseen events. In fact through June 2023 until late December, 13 kept a lid on VIX, with sizable falls on the index failing to attract any panic, but instead finding buying interest to catapult prices to the new peaks that we are at now. We see the rise in VIX since late December as a positive as it prepares the traders for future shocks. Also, VIX is still not at a level that signals panic yet, but just high enough to sensitise the traders and improve the volatility expectations. That the recent fall did not call for a VIX beyond 17, the level seen during Jan-Mar when panic was the highest last year is suggestive that VIX could still ease off or even blow hot and cold for a while. This is in fact more dangerous to weekly traders than stock traders, as we may alternate between cheap straddles to expensive ones, week on week.

Sensex Today | Stock Market LIVE Updates: These 5 pharma stocks are the worst performers in trade today

Stock Market LIVE Updates | Shares of NHPC jumped 6% to hit their fresh 52-week high of Rs 75.30 on the NSE on Friday extending the gains in two sessions to over 12%. The stock of this state-run hydropower company has been rallying following a Rs 4,000 crore Memorandum of Understanding (MoU) signed by it with the Gujarat government.

Stock Market LIVE Updates: Kay Cee Energy shares list at 367% premium on NSE SME platform

Sensex Today | Stock Market LIVE Updates: Mold-Tek packaging says commercial operations at Cheyyar unit will commence on or before March 31

Sensex Today | Stock Market LIVE Updates: Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period.

Sensex Today | Stock Market LIVE Updates: HDFC Bank gross advances up 62.4% Y/Y as of Dec 31; bank's deposits aggregated to approximately Rs 22,140 billion as of December 31, 2023, a growth of around 27.7% YoY

Sensex Today | Stock Market LIVE Updates: Shares of Waaree Renewable Technologies hit a 10% upper circuit as its board meeting is scheduled to consider the proposal for a stock split of equity shares of the company.

Sensex Today | Stock Market LIVE Updates: Jupiter Wagons rose 4% after the company got a Rs 473 crore contract from India's Defence Ministry for supplying military wagons.

Sensex Today | Stock Market LIVE Updates: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

Rupee rises 1 paisa to 83.23 against US dollar in early trade.

Sensex Today | Stock Market LIVE Updates: Quess Corp says NFRA imposed penalty on chartered accountants who issued reports for 3 FYs for co

Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises 250 points; Nifty above 21,710

BROKERAGE RADAR | NOMURA INDIA STRATEGY

Sensex Today | Stock Market LIVE Updates: Global stocks set to snap 9-week winning streak on Fed repricing

Sensex Today | Stock Market LIVE Updates: Dollar set for strongest week since July on reduced rate cut bets

Sensex Today | Stock Market LIVE Updates: Gold heads for first weekly fall in four as rate-cut hopes fade

Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start

Sensex Today | Stock Market LIVE Updates: Tech View: Nifty forms Inside Bar candle on weekly expiry

Sensex Today | Stock Market LIVE Updates: Rupee rises 6 paise against US dollar

Sensex Today | Stock Market LIVE Updates: Tokyo stocks open higher

Sensex Today | Stock Market LIVE Updates: S&P, Nasdaq extend year-start skid to three; Dow higher on financials 

Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Thursday

Market bounced back after the last two negative trading days led by strong monthly business updates of leading banks, emphasizing robust credit growth. The Realty sector was the highest gainer in anticipation of robust demand in the residential category, which was supported by healthy housing loans disbursement data announced by banks. The Asian market engaged in profit-booking as Fed minutes indicated that rates will be put on-hold in the near-term.

The Bank Nifty witnessed a robust comeback by the bulls, decisively surpassing the hurdle at 48,000 on a closing basis. This breakthrough confirms the resumption of the uptrend, indicating a potential move towards the target of 50,000. The bullish crossover in the RSI further supports the positive momentum. In case of any pullback, the index has a solid support at 47,700, serving as a cushion for the bulls

Rupee showed strength, gaining 0.06rs and trading at 83.29. This was attributed to some profit booking in the dollar ahead of the ADP Nonfarm Payroll Employment change, which is anticipated to be higher at 115k compared to the previous figure of 103k. Positive momentum in the capital markets, particularly with a more than 1.10% gain in the banking sector index, contributed to the rupee's upward movement. The rupee continues its range-bound trend, fluctuating between 83.15-83.45.