ETMarkets Evening Podcast: Money, Markets and everything else that matters to your wealth creation
Hi there! Good Evening.
This is Abhinav Kaul from ETMarkets.com and I will take you through the facts and figures from Tuesday's session on Dalal Street and will bring you cues and trading tips from market veterans for tomorrow's trade.
The domestic equity market rebounded from Monday’s loss and notched up solid gains on Tuesday, as Asian markets recovered after anxiety subsided over US President Donald Trump’s ability to push his agenda.
The S&P BSE Sensex closed 172 points higher at 29,409, with HDFC, Axis Bank and ICICI Bank being the major contributors to the rise.
The 30-share index, which opened at 29,301 against Monday’s close of 29,237, hit an intraday high and low of 29,442 and 29,301, respectively.
The broader Nifty50 of the National Stock Exchange (NSE) closed 55 points higher at 9,100.80.
Telecom stocks surged the most, with the S&P BSE Telecom index closing 0.94 per cent higher at 1,222.
Stocks of basic materials were the second best performers of the day.
So, what moved the market today? We have Shivani V Vishwanathan of Way2Wealth Brokers giving us a lowdown.
Byte 1 Shivani
On the derivatives front, Call writing remained intact, which is keeping the market in a trading range, but meaningful unwinding in Call options of strike prices 9,100 and 9,200 could give the bulls a better grip on the market ahead of the expiry of March series contracts.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Amit Gupta, Head of Derivative, ICICI Securities. Over to you, Mr. Gupta.
Byte 2 of Amit Gupta
On the technical front, the Nifty50 formed a ‘Small Bull’ candle on the daily chart, a day after it pull out a double bottom at 9,020 and its 13-Day EMA, with analysts now seeing tests of 9,130 in the short term.
A 'Small Bullish' candle is formed when the index trades higher but within a defined range throughout the session. The length of the real candle reflects the trading range for the day.
The index opened the day on appositive note. It rose and hit an intraday high of 9,110.40. At any given point, the index did not breach a 31-point thin range.
The Bank Nifty formed a Dragon Fly Doji on the daily chart, which has a bullish implication if follow-up buying happens in the next session. It had taken support at 20,750 last week and has been making higher highs and higher lows since last four sessions.
Market expert believes Nifty Bank can touch 21,500 in near term.
So, what does this technical setup indicates? We have Manav Chopra of Monarch Networth Capital doing the chart reading for us
Byte 3 of Manav Chopra
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
This is Abhinav Kaul from ETMarkets.com and I will take you through the facts and figures from Tuesday's session on Dalal Street and will bring you cues and trading tips from market veterans for tomorrow's trade.
The domestic equity market rebounded from Monday’s loss and notched up solid gains on Tuesday, as Asian markets recovered after anxiety subsided over US President Donald Trump’s ability to push his agenda.
The S&P BSE Sensex closed 172 points higher at 29,409, with HDFC, Axis Bank and ICICI Bank being the major contributors to the rise.
The 30-share index, which opened at 29,301 against Monday’s close of 29,237, hit an intraday high and low of 29,442 and 29,301, respectively.
The broader Nifty50 of the National Stock Exchange (NSE) closed 55 points higher at 9,100.80.
Telecom stocks surged the most, with the S&P BSE Telecom index closing 0.94 per cent higher at 1,222.
Stocks of basic materials were the second best performers of the day.
So, what moved the market today? We have Shivani V Vishwanathan of Way2Wealth Brokers giving us a lowdown.
Byte 1 Shivani
On the derivatives front, Call writing remained intact, which is keeping the market in a trading range, but meaningful unwinding in Call options of strike prices 9,100 and 9,200 could give the bulls a better grip on the market ahead of the expiry of March series contracts.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Amit Gupta, Head of Derivative, ICICI Securities. Over to you, Mr. Gupta.
Byte 2 of Amit Gupta
On the technical front, the Nifty50 formed a ‘Small Bull’ candle on the daily chart, a day after it pull out a double bottom at 9,020 and its 13-Day EMA, with analysts now seeing tests of 9,130 in the short term.
A 'Small Bullish' candle is formed when the index trades higher but within a defined range throughout the session. The length of the real candle reflects the trading range for the day.
The index opened the day on appositive note. It rose and hit an intraday high of 9,110.40. At any given point, the index did not breach a 31-point thin range.
The Bank Nifty formed a Dragon Fly Doji on the daily chart, which has a bullish implication if follow-up buying happens in the next session. It had taken support at 20,750 last week and has been making higher highs and higher lows since last four sessions.
Market expert believes Nifty Bank can touch 21,500 in near term.
So, what does this technical setup indicates? We have Manav Chopra of Monarch Networth Capital doing the chart reading for us
Byte 3 of Manav Chopra
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
