Latest news with #Banknifty
Hans India
4 days ago
- Business
- Hans India
Weak momentum is likely to continue
Thebroader market selling pressure dragged the benchmark indices below the 25000 level. The Nifty declined by 131.40 points or 0.53 per cent. The BSE Sensex is down by 0.36 per cent. The Midcap-100 and Smallcap-100 indices slipped by 1.85 per cent and 3.51 per cent, respectively. The Nifty and Banknifty are up by 0.95 per cent and 0.44 per cent, respectively. The Media and Realty indices were the worst performers with 5.73 per cent and 4.93 per cent, respectively. The IT and FMCG indices are down by 4.09 per cent and 3.41 per cent, respectively. The India VIX is still at the lower band at 11.28. The FIIs sold Rs30,508.66 crore, and the DIIs bought Rs.39,825.97 crore worth of equities. The benchmark index continued to fall for the fourth consecutive week. It declined by 3.36 per cent from the recent high. As expected, the low VIX regime has led to a sharp decline in the benchmark index. The VIX rose by 7.39 per cent to 11.28 last week. Even after the last two days' surge in the VIX, it remains at the lower band, hinting at further decline. The Nifty closed below the previous low and 10-week average decisively. It declined by 0.90 per cent with higher volume in the past four weeks, which is a real caution for the bulls. Now, the index is 0.87 per cent below the 50 DMA. After oscillating around the 50-day moving average (DMA) for the last six days, it finally decisively broke it. It also broke the 50 EMA support. The nearest support is at the 23.6 per cent retracement level of the prior 12-week rally from 21743 to 25669, which is at 24743, which is just a hundred points away. The index is showing signs of ending its 12-week rally from April 2025 lows. It retraced 86 per cent of the Oct-April decline. It rose by 18.05 per cent from the April lows. Last week's decline with higher volume indicates a strong distribution. Last week's shooting star candle further confirms the distribution. In any case, the index fails to hold the 24742-545 zone of support, except that the decline will be prolonged to another three to four months and may test the 23243 level, or it may fill the gap areas from April 8. For an upside, it must form at least three higher high candles. The daily Bollinger bands are decisively in the downtrend. The MACD line is below the zero line. The RSI is at a crucial 40 support level. The 100EMA support is at 24576. The nearest major low is at 24473. If these supports are also breached, the market will enter into a decisive downtrend. On the upside, there are several resistance points. First, it must close above the prior day's high and the 10-week average. As the earnings season is disappointing, there are no leading stocks or sectors; the weakness may continue for some more time. As the fall is severe in the last two days, expect a technical bounce next week. It may attempt to recover from an oversold condition on a lower time frame. (The author is partner, Wealocity Analytics, Sebi-registered research analyst, chief mentor, Indus School of Technical Analysis, financial journalist, technical analyst and trainer)
Mint
5 days ago
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying PFC shares tomorrow
Stock market today: Stock markets experienced a decline for the second day in a row on Friday, with the Sensex dropping 721 points due to substantial selling pressure in financial, IT, and oil & gas sectors amidst continued foreign fund outflows. The Sensex fell by 721.08 points, or 0.88%, closing at a level not seen in over a month at 81,463.09. During the day, it briefly dipped by 786.48 points, or 0.95%, hitting a low of 81,397.69. The Nifty 50 also fell, decreasing by 225.10 points, or 0.90%, to reach a monthly low of 24,837. Analysts noted that a lackluster performance in Asian and European markets further impacted investor sentiment. According to market analysts, Indian markets are expected to be affected by the ongoing Q1 FY26 earnings season in the coming week, as many prominent companies are set to announce their results. Investors will closely monitor management discussions for insights regarding margin forecasts, sector developments, and more. Dharmesh Shah from ICICI Securities anticipates that the Nifty 50 will continue to be in a corrective phase as long as it continues to create lower highs and lows, with significant support established at 24,500, a level that has been successfully defended on several occasions even in the face of geopolitical concerns observed during May and June. Equity benchmarks pared intra-week gains that resulted into extended losses over fourth week in a row amid absence of US-India bilateral tariff agreement. Nifty 50 underperformed the global peers and settled the week at 24837, down 0.5%. Broader market seen profit booking as Nifty midcap and small cap lost 2% and 4%, respectively. IT, Realty, FMCG weighed on market sentiment while Financials, pharma relatively outperformed. The weekly price action formed a small bear candle with upper wick carrying lower high-low, indicating extended correction. Contrary to our expectation index extended losses and closed below 50 days EMA which has been majorly held since April coupled with 2 months rising trend line breakdown. Going ahead, we expect bias to remain corrective as long as Nifty 50 maintains lower high-low formation wherein strong support is placed at 24,500 which has been held on multiple occasions despite geopolitical worries seen during May and June. Amidst ongoing corrective phase only silver lining is that the Bank nifty is showing relative outperformance and trading within 2% of its All-Time range. Further, any positive development on earnings as well as on bilateral trade agreement would dictate the further course of action which will eventually help to retest the immediate resistance of 25,300 in coming weeks. India VIX has corrected over sixth consecutive week and now bounced after approaching cyclical lows of 10, indicating participants anxiety at lowest level amid absence of key trigger. However, in the coming weeks, we expect rise in volatility tracking U.S. Fed policy coupled with monthly expiry and domestic IIP print. Structurally, over past 20 sessions index has retraced 61.80% of preceding 11 sessions 5% up move. The slower pace of retracement, highlights robust price structure. Hence, focus should be on accumulating quality stocks backed by strong earnings. a. US Fed Policy Outcome. b. Development on US-India bilateral trade deal. c. Weakness in US Dollar index and Crude oil prices. d. India VIX is bouncing from extreme oversold territory. On the broader market front, breach of past three weeks low on Midcap and small cap indices indicates corrective bias wherein possibility of mean revision towards its short-term averages cannot be ruled out. In addition to that, the market breadth has seen deterioration as % of stocks above 50 days SMA have declined to 44% from last week's reading of 68%. Dharmesh Shah of ICICI Securities recommends buying Power Finance Corporation Ltd (PFC) shares this week. Buy PFC shares in the range of ₹ 415-425. He has PFC share price target of ₹ 478 with a stop loss of ₹ 388. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 25/07/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
The Print
05-07-2025
- Business
- The Print
Sebi probe in Jane Street not over, will focus on other indices, exchanges, patterns
The sources, however, did not give any timeline on how long would the investigation take, and added that 'scope (of investigation) is quite large'. Stating that Sebi has only gone into 18 days of prima facie Banknifty and three days of Nifty index manipulations on expiry days till now, the sources said the probe will now focus on other expiry days, other indices including trades on other exchanges and other potential patterns. Mumbai, Jul 4 (PTI) Capital markets regulator Sebi's investigations into the Jane Street matter are set to continue even after the interim order, sources said on Friday. In an order released in the early hours of Friday, the market regulator has found Jane Street, a New York-based hedge fund, guilty of manipulating the indices by taking bets in the cash, and, futures and options markets simultaneously for making handsome gains. It has suspended the hedge fund from accessing the market and impounded over Rs 4,843 crore in gains. The probe has found that JS made a profit of Rs 36,671 crore on a net basis during the probe period from January 2023-May 2025. The Sebi sources seemed to be pitching for avoiding a reaction where the revelations lead to more regulations and instead pitched for better enforcement. 'Better enforcement of existing regulations can in fact pave the way for optimal regulation. On the flip side, more regulations cannot make up for poor enforcement,' they said. The regulator will continue to monitor the futures and options space from the perspective of ensuring investor protection, market stability, and support for sustained capital formation, the sources said. Sebi actions on the derivatives space following studies pointing to higher losses suffered by retail investors have 'somewhat moderated' retail activity on expiry days, 90 per cent of the trades continue to lead to losses, they said. 'There appears to be still too much of concentration in short-term expiries and short-term trading. Extending maturities and nudging more long-term trading, hedging, and investments would be ideal for our ecosystem,' they said. Even though the stocks of brokerages like Nuvama and Angel One, and also the equity bourse BSE witnessed an impact on Friday, the sources said they do not expect any major impact of this enforcement action. They explained that the revised rules set in recently on the delta-based (future equivalent) limits are now in place in index options to curtail excessive risk taking without impacting regular participants. 'In the long run, the growth in market confidence, and a free and fair market, should aid responsible investing and capital formation,' they said. Ahead of what is expected to be a protracted legal tussle, the Sebi sources also made it clear that every user of an algorithm is responsible for the output of the algo. PTI AA HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Deccan Herald
04-07-2025
- Business
- Deccan Herald
SEBI probe in Jane Street not over, will focus on other indices, exchanges, patterns
Stating that SEBI has only gone into 18 days of prima facie Banknifty and three days of Nifty index manipulations on expiry days till now, the sources said the probe will now focus on other expiry days, other indices including trades on other exchanges and other potential patterns.
