GM

MARKET: SCARE IN BANKS
Show Federal Bank day chart
Show Federal Bank Futures plate
Show Nifty PSU Bank day chart
Show Midcap Index day chart
Bandhan Bank’s nos today, stock very weak
Big risk for market is if Q4 was peak earnings quarter
Need to see numbers of bigger banks to get trend
Ex of Banks, close yesterday was pretty good
IT led the charge, has shown clear signs of bottom

IT: STRONG BUYING
Stock Delivery volume (rs cr)
Infosys 850
TCS 350
HCL Tech 250

Show Nifty IT Tech chart (20 and 200 Day SMA)

Market’s near-term leadership may shift to IT stocks
US inflation print has led to hopes of pause in US
If US rate hike cycle ends, IT valuations will rise again

NIFTY OUTLOOK
Nifty facing congestion in 19,500-19,600 range
Show 19500 Call for this week
Trailing stop loss remains at 19,300 for long positions
Market’s basic texture is still “Buy on dips”
A close above 19,550 is needed to get the next big move
Close above 19,550 would open move to 19,700-19,800
Buy zone for today: 19,385-19,425, stop loss: 19,300
Profit booking zone for day traders: 19,500-19,550

BANK NIFTY OUTLOOK
Bank Nifty one shade weaker than Nifty
Bank Nifty testing 20 DEMA of 44,550
First test of 20 DEMA should be defended
If 20 DEMA is decisively broken, can see correction
Wait for stability before buying Bank Nifty
Buy zone after stability: 44,600-44,700, stop loss: 44,550

IT stocks ❤️

Good morning

NIFTY: ABKI BAAR 20,000
Nifty has moved from 19,000-19,500 in 10 days
Nifty has good chance of hitting 20,000 in July
Market going through periodic sector rotation
Nifty at 52-w high but only 3 stocks at 52-w high
35 Nifty stocks are 1-5% away from 52-w high
Most important week for the earnings calendar
HDFC Bank today and RIL on Friday
Infosys numbers on 20th, stock filled last quarter’s gap
ICICI Bank and Kotak Bank on Saturday

IT: WHY THE MOVE?
((Show Infosys updated chart))
Infosys now 1% away from 200 DMA
TCS 1.7% away from 52-week high
Tech mahindra hit 52-w high on Friday
HCL Tech 4% away from 52-w high
Market is betting on 2 factors for IT
Factor 1: Q1 bad but things can only improve from here
Factor 2: Valuations should increase if Fed starts to cut rates
Point of max uncertainty leads to point of max gains
((Play Ridham byte))

NIFTY OUTLOOK
((Show 19,500 Call))
19,500 Call sheds 34 lakh shares in Open Int
Nifty has no major resistance now till 19,800
Positional longs should raise stop loss to 19,400 now
After 4 days, stop loss has moved up from 19,300 to 19,400
Fresh entry zone: 19,500-19,550, add zone: 19,450-19,500
Stop loss for all long trades today: 19,400
Absolutely no thoughts of shorting this market

BANK NIFTY OUTLOOK
Bank Nifty still one shade weaker than Nifty
Need to wait for one more day today
HDFC Bank’s nos today, watch out for commentary
Today, avoid taking any premeditated trade on Bank Nifty
Bank Nifty is defending the rising 20 DEMA
Friday’s low was exactly at 20 DEMA, 10 points above stop loss
Trailing stop loss for all longs now at 44,500
Buy zone: 44,600-44,700, stop loss: 44,500
Better view will emerge after HDFC Bank’s nos

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GM

BIG DAY: BROKEN IN PIECES
No contribution of Reliance in market opening today
Reliance will start trading ex of Jio from 10 am today
Some profit taking likely in Reliance between 10-11 am
Those who want only Jio Fin will sell Reliance today
HUL nos will come out in post noon session
Last hour will be about pre-empting numbers from Infosys
Weekly expiry, today is not for weak hearted players
Nifty ended at day high but at resistance level of 19,847

NIFTY OUTLOOK
First resistance: 19,851 (yesterday’s high)
Bigger resistance: 19,876-19,902 (options based)
First support: 19,775 (options based)
Bigger support: 19,725 (yesterday’s low)
Avoid taking any Nifty trade in first hour today
Take Nifty trade after clarity on Reliance price
Today’s trade is to play 19,775-19,875 range smartly
Buy near 19,775 with stop loss of 19,725
Sell near 19,875 with stop loss of 19,900
Sell trade in strictly for intra-day traders
Positionally, stay long with new stop loss of 19,550

BANK NIFTY OUTLOOK
Bank Nifty showing signs of ending underperformance
First support zone: 45,430-45,500 (options based)
Bigger support: 45,100-45,200 (breakout zone)
Stay long with trailing stop loss of 45,100
First resistance: 45,725 (around yesterday’s high)
Bigger resistance: 45,900-46,000 (options based)
45,905 is the record high also for Bank Nifty
Bank Nifty might be a cleaner play today than Nifty
No impact of RIL, HUL or Infosys on Bank Nifty
Buy zone: 45,450-45,550, stop loss: 45,400
Short trade only on rejection of 45,900, stop: 46,000
Short trade strictly for intra-day and not to carry

Buy zone worked beautifully.

Bank Nifty was a cleaner play today :)

Polycab up another 10%!!!. Madness in markets

My first thoughts on Infosys.