Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extended gains on Tuesday and ended the session in green. The NSE Nifty 50 rose 25.85 points 0.15% to 17,769.25 and BSE Sensex climbed 74.61 points 0.12% to 60,130.71. In sectoral indices, Bank Nifty advanced 42.75 points or 0.10% to 42,678.5 and Nifty PSU Bank surged 52.15 points or 1.31% to 4,036.35. The top gainers on Nifty 50 were Adani Enterprises, Bajaj Finance, Britannia, Bajaj Finserv and Bharti Airtel while the top losers were HDFC Life, UPL, HDFC, HDFC Bank and Tech Mahindra.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The NSE Nifty 50 fell 8.95 points or 0.05% to 17,734.45 and BSE Sensex dipped 13.86 points or 0.02% to 60,042.24.
Domestic indices ended the pre-opening session in green. The NSE Nifty 50 rose 18.15 points or 0.1% to 17,761.55 and BSE Sensex climbed 146.67 points or 0.24% to 60,202.77.
“Weekly support for Bank Nifty is near 42000 and resistance at 42820. And close below support it can test 41570 and weekly close above resistance, there are high possibilities of new highs in the market. Bank Nifty’s all-time high is at the 44151.80 mark. Bank Nifty’s 200-DMA is placed at the 40357 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“Bank Nifty witnessed a strong breakout on the daily chart with a sharp surge in volumes. The index remains in a strong buy mode and any dip should be an ideal opportunity to add on the log positions. The lower-end support is visible at 42,300 which will act as a cushion for the bulls and the potential upside targets are 43,000/43,300,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.
“Bank Nifty has support at 42300-42100 while resistance is placed at 43100-43300 range,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“Bank Nifty is near the critical supply zone of 42700–43000; above this, we can expect a rally towards 43500 and 44000 levels. On the downside, 42000 has become a near-term floor,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Bank Nifty first support at 42393 and then 42120 while resistance at 42826 and 42985, according to Rahul Sharma, JM Financial.
“Nifty witnessed a breakout of the bullish flag formation, where 17800–17860 is an immediate resistance zone for the Nifty; above this, we can expect a rally towards the 18100–18200 zone. On the downside, the 200-DMA around 17600 will act as a strong support level,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“In terms of the Elliott Wave Principle, we believe that the Nifty started wave five after consolidation in wave four. The daily momentum indicator has a negative crossover and since prices have resumed their up move, it is likely that the momentum indicator shall provide a positive crossover over the next few trading sessions. Considering the above parameters, we change the short-term outlook to positive and expect the Nifty to target levels of 18100. In terms of levels, 17620 – 17600 shall act as a crucial support zone while 17860 – 17900 is the immediate hurdle zone for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Nifty took support at 17,613 yesterday, reversed from the day low, and closed at the day high which is strongly positive for today as per the current closing index looks positive for 17,800/17,850 levels, and downside support stands at 17,680-17,620,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Nifty would be daunting to surpass the sturdy wall of 17800 – 17900; but if banking and other heavyweights manage to keep up the same momentum, the breakout is imminent. On the flip side, 17600 followed by 17550 should now be seen as a sheet anchor for the bulls. Traders are advised to use intraday declines to add fresh bullish bets and should continue focusing on thematic movers,” said Sameet Chavan, Head Research – Technical and Derivatives, Angel One Ltd.
“The volume profile indicates Index has strong support around the 17550-17600 zone. Coming to the OI Data, on the call side, the highest OI was observed at 17800 followed by 17900 strike prices while on the put side, the highest OI is at 17700 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
Nifty first support at 17677 and then 17586 while resistance at 17814 and 17862, according to Rahul Sharma, JM Financial.
Nifty and Bank Nifty Today: Nifty first support at 17677 and then 17586 while resistance at 17814 and 17862. Bank Nifty first support at 42393 and then 42120 while resistance at 42826 and 42985. Read full story on share market outlook today.
The National Stock Exchange has no securities on its F&O ban list for 25 April. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) net sold shares worth Rs 412.27 crore, while domestic institutional investors (DII) net purchased equities worth Rs 1,177.18 crore on 24 April, according to the provisional data available on the NSE.
Oil prices slipped in early trade on Tuesday, paring gains from the previous session, as investors weighed strong holiday travel in China that could boost fuel demand with the prospect of rising interest rates elsewhere slowing economic growth. Brent crude fell 7 cents to $82.66 a barrel at 0013 GMT, while U.S. West Texas Intermediate crude eased 6 cents to $78.70 a barrel, according to Reuters.
Market eyes Bajaj Auto, Nestle India, HDFC AMC Q4FY23 financial results today. Other earnings due today include Mahindra CIE, Persistent System, Mahindra Life, Rallis India, Dalmia Bharat, VST Industries, NAM India.
Indian markets are likely to open on a flat to positive note today tracking mixed global cues. Investors are likely to remain watchful as they await key US economic data for further directions in the markets. – ICICI Securities
The US market ended the overnight session mostly in green– Dow Jones Industrial Average (DJIA) rose 0.2%, S&P 500 was up 0.09% while the tech-heavy Nasdaq fell 0.29%.
Asian markets were trading mostly in red with China’s Shanghai Composite Index dipping 0.2%, South Korea’s KOSPI dropping 0.76%, Hong Kong’s Hang Seng tanking 1.36% while Japan’s Nikkei 225 rising 0.56%.
The Nifty futures on the Singapore Exchange (SGX) were trading 19 points or 0.11% higher at 17,778.5 in the early morning trade.