Latest news with #NiftyBank
Mint
2 days ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 29 July
On Monday the Nifty 50 fell by 156.10 points or 0.63% to close at 24,680.90, while the BSE Sensex lost 572.07 points or 0.70% to settle at 80,891.02. Nifty Bank also continued its downward trend, dropping 444 points or 0.79% to end at 56,084.90 after breaking key support zones in the afternoon session. Top 3 stocks recommended for today by Ankush Bajaj Why it's recommended: The stock has shown strength by closing 1.36% higher in the previous session despite a broader market sell-off. The daily RSI is at 63 and the MACD is above the zero line, both indicating increasing bullish strength. Once the stock sustains above ₹1,320, the setup suggests a potential breakout toward fresh lifetime highs. Breakout zone: Sustained move above ₹1,320 could open new highs Pattern: Strength continuation against broader market weakness MACD: Positive and rising above zero line RSI: Daily RSI at 63, suggesting bullish momentum Technical analysis: With strong momentum and resistance nearing breakout levels, the stock appears poised for an upward continuation toward ₹1,355 in the near term. Risk factors: A close below ₹1,264 will invalidate the current bullish setup and may signal short-term weakness. A disciplined stop-loss at ₹1,264 is recommended Buy at: ₹1,295.80 Target price: ₹1,355 Stop loss: ₹1,264 Why it's recommended: ICICI Bank stock is showing strong bullish momentum with the daily RSI at 65 and MACD at 13. On lower time frames, the stock has formed a solid base around ₹1,474, which is expected to support further upward movement. The setup suggests potential for a short-term rally toward ₹1,504. Breakout zone: Built a firm base at ₹1,474 on lower timeframes Pattern: Base formation with follow-through momentum MACD: Positive at 13, showing strong trend strength RSI: Daily RSI at 65, indicating positive momentum Technical analysis: With solid momentum and base formation in place, ICICI BANK appears well-positioned to rally toward ₹1,504 in the near term. Risk factors: A close below ₹1,480 will invalidate the current bullish setup and may signal short-term weakness. A disciplined stop-loss at ₹1,480 is recommended Buy at: ₹1,488.40 Target price: ₹1,504 Stop loss: ₹1,480 Why it's recommended: Cipla stock has broken out of a rectangle consolidation pattern on the daily chart, confirming bullish continuation. The daily RSI is at 70 and MACD at 5, both pointing to strong underlying momentum. This technical setup supports further upside toward the ₹1,615 level. Breakout zone: Rectangle breakout confirmed on daily chart Pattern: Consolidation breakout with momentum confirmation MACD: Positive at 5, showing a strong uptrend RSI: Daily RSI at 70, reflecting bullish strength Technical analysis: With the price breaking out from a defined range and supported by strengthening momentum, the stock is favorably positioned for a move toward ₹1,615. Risk factors: A close below ₹1,548 will invalidate the current bullish setup and may signal short-term weakness. A disciplined stop-loss at ₹1,548 is recommended Buy at: ₹1,572.00 Target price: ₹1,615 Stop loss: ₹1,548 How the market performed on 28 July Losses were spread across sectors, underscoring the bearish mood. The realty sector plunged 4.07%, while PSU banks and metals declined 1.20% and 1.15%, respectively, on the back of weak institutional sentiment and broader market uncertainty. On the defensive side, some sectors managed to stay afloat. The pharma index rose 0.43%, FMCG edged up 0.28%, and healthcare posted a 0.09% gain as investors rotated into safer bets amid heightened volatility. Shriram Finance led the gainers with a 2.86% rise, followed by Cipla at 2.58%, and Hero MotoCorp, which advanced 1.43%, supported by buying in healthcare and defensives. However, the overall market tone remained weak, with heavyweight laggards weighing on the indices. Kotak Bank suffered a steep decline of 7.44% amid concerns around asset quality and stretched valuations. Bajaj Finance dropped 3.64%, and Wipro fell 3.53%, adding to the downward drag. Nifty technical analysis: daily & hourly The Nifty ended Monday's session on a weak note, down 156.10 points or 0.63% at 24,680.90. As highlighted in the previous update, a breakdown below the psychological level of 25,000 was likely to trigger further downside toward 24,700-24,500. The index has now followed through on that bearish setup, validating the expected move and indicating growing selling pressure. With the latest close, Nifty has firmly slipped below all key moving averages, including the 20-day SMA at 25,217 and the 40-day EMA at 25,023. On the intraday chart as well, it remains under pressure, trading below both the 20-hour SMA (24,881) and the 40-hour EMA (24,947), highlighting persistent weakness across timeframes. Momentum indicators are clearly reflecting this bearish shift. The daily RSI has cooled off sharply to 37, indicating a lack of buying strength and confirming the loss of upward momentum. On the hourly chart, RSI has plunged to an extremely oversold level of 20, which may result in minor technical bounces but doesn't negate the prevailing weakness. The MACD readings also align with this bearish tone, with the daily MACD dropping to 57 and the hourly MACD further deteriorating to 103, reinforcing the idea that the downtrend has gained traction. In the derivatives segment, the options data has turned decisively bearish. The total call open interest stands at 22.90 crore, significantly higher than the put OI at 12.03 crore, with a wide net difference of 10.88 crore — clearly reflecting heavy call writing and a lack of aggressive put writing. Changes in OI continue to support the bearish trend, with call OI rising by 3.82 crore and put OI by only by 1.05 crore, resulting in a net change of -2.77 crore. The put-call ratio (PCR) has dropped to 0.53, indicating aggressive call buildup and growing bearish sentiment. Strike-wise positioning reveals that the highest call OI is placed at 25,000, while fresh writing has emerged at the 24,800 strike, making both levels near-term resistance zones. On the put side, maximum open interest is seen at the 24,000 strike, while the 24,600 strike has seen fresh additions, suggesting it may act as immediate support. India VIX remains relatively stable, but the broader setup now favours the bears unless a strong recovery above 25,000 occurs. Until then, rallies are likely to be sold into. The short-term structure suggests the next support is placed at 24,460, a level that may offer temporary stability. However, if this breaks, further weakness toward 24,200–24,000 cannot be ruled out. In summary, the Nifty has transitioned from a neutral-to-bullish setup to a clear bearish structure with momentum and price action both favoring the downside. Unless the index quickly reclaims levels above 24,800–25,000, the bias remains weak. Traders are advised to maintain a bearish stance and consider selling on intraday rallies, with immediate resistance at 24,800 and support now placed at 24,460. A decisive break below 24,460 could trigger fresh downside, while only a close above 25,000 would hint at a potential trend reversal. Ankush Bajaj is a Sebi-registered research analyst. His registration number is in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
2 days ago
- Business
- Economic Times
Stock market update: Nifty Bank index falls 0.79%
NEW DELHI: The Nifty Bank index closed on a negative note on Monday. ADVERTISEMENT Shares of ICICI Bank Ltd.(up 0.77 per cent), HDFC Bank Ltd.(up 0.2 per cent) and IDFC First Bank Ltd.(up 0.03 per cent) ended the day as top gainers in the pack. On the other hand, Kotak Mahindra Bank Ltd.(down 7.44 per cent), IndusInd Bank Ltd.(down 2.63 per cent), Punjab National Bank(down 1.5 per cent), Bank of Baroda(down 1.28 per cent) and State Bank of India(down 1.17 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.79 per cent down at 56084.9. Benchmark NSE Nifty50 index ended down 156.1 points at 24680.9, while the BSE Sensex stood down 572.07 points at 80891.02. Among the 50 stocks in the Nifty index, 16 ended in the green, while 34 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, Ola Electric Mobilit, PC Jeweller, Indian Energy Exchg and Suzlon Energy were among the most traded shares on the NSE. Shares of Vimta Labs, Sudarshan Chemical, Times Guaranty, CarTrade Tech and UPL (PP)hit their fresh 52-week highs in today's trade, while Stampede Cap, Future Consumer, Supreme Holdings, Supreme Engineering and Reliance Comm hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Stock market update: Nifty Bank index falls 0.79%
NEW DELHI: The Nifty Bank index closed on a negative note on Monday. Shares of ICICI Bank Ltd.(up 0.77 per cent), HDFC Bank Ltd.(up 0.2 per cent) and IDFC First Bank Ltd.(up 0.03 per cent) ended the day as top gainers in the pack. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Operations Management CXO Artificial Intelligence MBA Design Thinking Degree PGDM Others Cybersecurity Leadership Product Management Data Science Technology Project Management others MCA Data Science Digital Marketing Public Policy Healthcare healthcare Finance Management Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Dhaka - Watch What Happens Happy in Shape Undo On the other hand, Kotak Mahindra Bank Ltd.(down 7.44 per cent), IndusInd Bank Ltd.(down 2.63 per cent), Punjab National Bank(down 1.5 per cent), Bank of Baroda(down 1.28 per cent) and State Bank of India(down 1.17 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.79 per cent down at 56084.9. Benchmark NSE Nifty50 index ended down 156.1 points at 24680.9, while the BSE Sensex stood down 572.07 points at 80891.02. Live Events Among the 50 stocks in the Nifty index, 16 ended in the green, while 34 closed in the red. Shares of Vodafone Idea, Ola Electric Mobilit, PC Jeweller, Indian Energy Exchg and Suzlon Energy were among the most traded shares on the NSE. Shares of Vimta Labs, Sudarshan Chemical, Times Guaranty, CarTrade Tech and UPL (PP)hit their fresh 52-week highs in today's trade, while Stampede Cap, Future Consumer, Supreme Holdings, Supreme Engineering and Reliance Comm hit their fresh 52-week lows.
Economic Times
2 days ago
- Business
- Economic Times
Stock market update: Nifty Bank index falls 0.03% in an upbeat market
NEW DELHI: The Nifty Bank index traded negative around 10:33AM(IST)on Monday in an upbeat market. ADVERTISEMENT Canara Bank(up 1.66 per cent), ICICI Bank Ltd.(up 0.88 per cent), HDFC Bank Ltd.(up 0.69 per cent), Bank of Baroda(up 0.67 per cent) and Federal Bank Ltd.(up 0.59 per cent) were among the top gainers. Kotak Mahindra Bank Ltd.(down 6.4 per cent), Axis Bank Ltd.(down 0.42 per cent) and IndusInd Bank Ltd.(down 0.11 per cent) were the top losers on the index. The Nifty Bank index was down 0.03 per cent at 56511.1 at the time of writing this report. Benchmark NSE Nifty50 index was up 27.85 points at 24864.85, while the BSE Sensex was up 37.25 points at 81500.34. Among the 50 stocks in the Nifty index, 34 were trading in the green, while 16 were in the red. ADVERTISEMENT Shares of Vodafone Idea, Ola Electric Mobilit, Indian Energy Exchg, PC Jeweller and JP Power were among the most traded shares on the NSE. Shares of Times Guaranty, Manorama Ind, Shree Pushkar Chem, Laurus Labs and Gallantt Metal hit their fresh 52-week highs in today's trade, while Stampede Cap, JITF Infralogistics, Supreme Engineering, Reliance Comm and Marshall Machines hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Stock market update: Nifty Bank index falls 0.03% in an upbeat market
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW DELHI: The Nifty Bank index traded negative around 10:33AM(IST)on Monday in an upbeat Bank(up 1.66 per cent), ICICI Bank Ltd.(up 0.88 per cent), HDFC Bank Ltd.(up 0.69 per cent), Bank of Baroda(up 0.67 per cent) and Federal Bank Ltd.(up 0.59 per cent) were among the top Mahindra Bank Ltd.(down 6.4 per cent), Axis Bank Ltd.(down 0.42 per cent) and IndusInd Bank Ltd.(down 0.11 per cent) were the top losers on the Nifty Bank index was down 0.03 per cent at 56511.1 at the time of writing this NSE Nifty50 index was up 27.85 points at 24864.85, while the BSE Sensex was up 37.25 points at the 50 stocks in the Nifty index, 34 were trading in the green, while 16 were in the of Vodafone Idea, Ola Electric Mobilit, Indian Energy Exchg, PC Jeweller and JP Power were among the most traded shares on the of Times Guaranty, Manorama Ind, Shree Pushkar Chem, Laurus Labs and Gallantt Metal hit their fresh 52-week highs in today's trade, while Stampede Cap, JITF Infralogistics, Supreme Engineering, Reliance Comm and Marshall Machines hit fresh 52-week lows in trade.
