Tricky Candles and Freaky Premiums. GST Collection at Rs 1.46 Lakh Crores - Post Market Analysis


NIFTY opened the day at 18,871 with a gap-up of 113 pts. After the opening, the index slowly moved down, but the movements after 1 PM were terrifying. Nifty closed the day at 18,812, up by 54 points or 0.29%.

BANK NIFTY started the day at 43,512 with a gap-up of 281 pts. After the initial profit booking, the index consolidated for more than 3 hours. Bank Nifty closed the day at 43,26, up by 29 pts or 0.07%.

FIN NIFTY started the day at 19,480 with a gap-up of 121 pts. The resistance level of recent days, 19,300 acted as good support today. Fin Nifty closed the day at 19,369, up by 10 pts or 0.05%.

Nifty IT (+2.4%), Nifty Media (+2%), Nifty PSU Bank (+2.1%) and Nifty Realty (+2%) gained 2%. Nifty Metal (+1.5%) also moved up.

Major Asian Markets closed in the green. European Markets are trading flat to green.

Today’s Moves

Nifty Metal stocks continued their power, up by more than 4.3% in 3 days. 

Tata Steel (+2.8%), Hindalco (+2.8%), Jindal Steel (+5.3%), and Vedanta (+1.9%) gained well.

Realty stocks- Brigade (+3.1%), DLF (+2.5%), Godrej Prop (+1.6%), Oberoi Realty (+4%), and Prestige (+4.5%) closed in the green. 

Cement stocks-  India Cements (+3%), Ambuja Cements (+1.8%), Ultratech Cements (+2.7%), and JK Cement (+3.9%) also moved up.

UPL (-1.3%) closed as the Nifty 50 Top Loser.

Yesterday NASDAQ shot up 4% and as a result  TCS (+2.5%), TechM (+2.2%), Wipro (+1.6%), LT (+1.4%), HCL Tech (+1.3%), and Infy (+1.3%) featured in the Nifty 50 Top Gainer list.

LTTS (+9%), Mphasis (+5.8%), Persistent (+4%), and Coforge (+2%) also gained well.

Bajaj Auto (-1.1%)  Ashok Leyland (-0.07%), Tata Motors (-0.26%), TVS Motors (-0.18%), Eicher Motors (-1.3%), Maruti (-0.18%) and M&M (-0.93%) posted their November sales data today. 

PEL (+4.6%) moved up after the board approved fundraising up to Rs 250 crore via NCDs.

Easy Trip (+6.1%) closed in the green as it plans to acquire a 75% stake in Nutana Aviation Capital IFSC

Markets Ahead

If you look into the entire day, the market wasn’t much volatile. But if you were in a trade, you would say the opposite. 

After 1 PM,  multiple trap candles occurred, hitting resistances, supports, and upper and lower sides of consolidations, and premiums fluctuated 4x, and 6x times. And interestingly, all these happened within a few seconds. 

Yesterday U.S. market gained well, and Asian markets also closed green. But our market ended with slight gains, staying strong. 

Tomorrow’s market movement would give the direction of Nifty in the coming week.

Gross GST Revenue Collection was reported at Rs 1.46 lakh crore in November, an 11% YoY growth.

India (Nov) S&P Global India Manufacturing PMI came out at 55.7 vs 55.3 Previous

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