13:02 (IST) 28 Jun 2023
Nifty heading towards 19000/19200, support at 18700
“Indian market hits fresh record high on the back of both global support as well as improved domestic economic data like easing inflation and anticipation of a pause in rate hikes by the Fed. Latest report by S&P which upgrades ratings on the Indian banking sector as the economy improves. The US also helped Asian markets by trading in a greener zone on the back of higher consumer confidence increasing to the highest level since the start of the last year along with increase in new home sales. However, the high market valuation continues to be a concern for the near-term. Investors can book some profits at record highs. Technically it looks nifty is heading towards 19,000/19200 levels for medium term with support near 18700 levels,” said Prashanth Tapse, Research Analyst, Mehta Equities Ltd.
12:53 (IST) 28 Jun 2023
What next for Nifty 50, Sensex after hitting all-time highs today? Eye on Monsoon; check support, resistance
The Nifty 50 and BSE Sensex made new all-time highs today with the NSE benchmark index now just shy of 19,000-mark. Adani Group stocks, and banking and financial stocks supported the rally after getting a boost from the merger updates from HDFC. Analysts attribute the overall surge in the market in recent days to positive economic data and continuous FII/DII inflow. Experts say that Nifty 50 will soon hit 19,000 and move towards the next important cluster of 19,250-19,500. Nifty’s previous 52-week high of 18,887.6 was hit on December 1, 2022, and it took the index 142 trading sessions to achieve the record. Sensex hit an all-time high of 63,716 today after hitting a high last week at 63,601.71.
12:22 (IST) 28 Jun 2023
Adani group, financial stocks, FII inflows lift Nifty, Sensex today to all-time highs
India’s blue-chip Nifty 50 hit a record high on Wednesday after struggling to breach the level for several sessions, lifted by gains in Adani group stocks and heavyweight financials, with foreign fund inflows and a monsoon revival providing support. The Nifty index rose as much as 0.56% to a record high of 18,923.10, as of 10:47 a.m. IST. The index last hit a new peak in December 2022 and was just shy of the all-time high last week before hawkish central bank commentary spooked investors.
10:21 (IST) 28 Jun 2023
Nifty Metal jumps 1%; check top gainers
Nifty Metal jumped 73.10 points or 1.19% to 6,200.75. The top gainers on the index were Adani Enterprises
10:00 (IST) 28 Jun 2023
Indices at lifetime highs: Nifty 50 hits fresh all-time high at 18,908.15, Sensex touches new record at 63,716
Benchmark index Nifty 50 hit a fresh all-time high of 18,908.15 on Wednesday, surpassing the 18,887.6 level the benchmark index hit on 1 December, 2022. Nifty 50 took 142 trading sessions to achieve the record. Sensex hit an all-time high of 63,716 as well after hitting a high last week at 63,601.71.
09:50 (IST) 28 Jun 2023
SBIN shares gain nearly 1%
State Bank of India (SBIN) share price rose 0.84% to Rs 570.9 after the board of directors of India’s largest lender, approved the acquisition of the 20% stake held by SBI Capital Markets. in SBI Pension Funds subject to receipt of all regulatory approvals.
09:37 (IST) 28 Jun 2023
Bank Nifty jumps above 44400
Bank Nifty opened above 44,400. The banking index is trading 151.20 points or 0.34% higher at 44,272.70. The top gainers were IndusInd Bank, SBIN, HDFC Bank, Federal Bank and ICICI Bank while the losers were IDFC First Bank, Kotak Bank and Axis Bank
09:21 (IST) 28 Jun 2023
Nifty, Sensex open at record highs
NSE Nifty 50 and BSE Sensex opened at record highs on monthly F&O expiry. The NSE Nifty 50 jumped above 18900 and BSE Sensex surpasses the 63700 mark. The NSE index is currently trading 52.75 points or 0.28% higher at 18,870.15 and the 30-share BSE benchmark rose 183.99 points or 0.29% to 63,600.02.
09:12 (IST) 28 Jun 2023
Nifty, Sensex end pre-open in green
NSE Nifty surpassed its all-time high in the pre-opening session. The Nifty 50 jumped 90.75 points or 0.48% to 18,908.15 and BSE Sensex soared 285.75 points or 0.45% to 63,701.78.
09:01 (IST) 28 Jun 2023
Bank Nifty may rise to 44500 if it sustains above 44000
“Bank Nifty witnessed a strong bullish move as the bulls took control and surpassed the hurdle of 44000. This breakout occurred following the announcement of the merger date of HDFC twins. The surge in buying pressure forced the writers of 44000 call options to cover their positions. If the index manages to sustain above the 44000 level, it is likely to continue its upward momentum towards the 44500 level,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
09:01 (IST) 28 Jun 2023
Bank Nifty expected to target levels of 44500
“Bank Nifty has decisively closed above the 20-day moving average (43909) which is a bullish sign. The daily momentum indicator has triggered a fresh positive crossover which is a buy signal. Thus, both price and momentum indicators is suggesting a further upside in the Bank Nifty. On the upside we expect it to target levels of 44500,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
09:01 (IST) 28 Jun 2023
Bank Nifty support at 43800; resistance at 44500-44600
“Bank Nifty has support at 43800 levels while resistance is placed around the 44500-44600 zone. The market breadth was skewed in the favour of the buyers,” said Om Mehra, Equity Research Analyst at Choice Broking.
09:00 (IST) 28 Jun 2023
Bank Nifty resistance at all-time high of 44500
“Bank Nifty immediate support is expected at around 44000, followed by 43800. On the other hand, the resistance levels for the monthly expiry session are at an all-time high at 44500, followed by 44700,” said Rajesh Bhosale, Technical Analyst at Angel One
09:00 (IST) 28 Jun 2023
Bank Nifty support at 43830-43538
Bank Nifty witnessed a breakout from the falling channel that had formed over the last 25-30 days. Expect more upside above 44215 – but keep booking profits intraday as PCR is overheated. First support at 43830 and then 43538 while resistance at 44284 and then 44446, according to Rahul Sharma, JM Financial.
08:59 (IST) 28 Jun 2023
Nifty could retest 18700-18675 if it falls below 18750
“Nifty cleared the 18750 resistance zone and post-breakout it intensified the positive momentum. On daily charts, the index has formed a bullish candle, which supports a further uptrend from the current levels. For the bulls, 18880-18925 would be the immediate resistance zone, whereas below 18750 the market could retest 18700-18675,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
08:59 (IST) 28 Jun 2023
Nifty may rally towards 19000
“Nifty moved up smartly following a doji formation on the daily chart. Additionally, the index found support at the 21EMA before moving higher. The RSI, on the lower timeframe, is in a bullish crossover. The short-term trend looks green from here, on the upside, the index might witness a rally towards 19000. On the lower end, support is placed at 18700,” said Rupak De, Senior Technical analyst at LKP Securities.
08:58 (IST) 28 Jun 2023
Nifty resistance at 18880–18900
“We believe that Nifty 50 has resumed its next leg of up move and hence we shall assign more weightage to the price action and expect the momentum indicator to align with a lag. Overall, the Bulls have managed to defend the average support which is a sign of strength. In terms of levels, 18650–18600 shall act as a crucial support zone while 18880–18900 shall act as a crucial resistance zone,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
08:58 (IST) 28 Jun 2023
Nifty 50 poised to test 18888 on expiry day
“Nifty 50 is poised to test the 18888 level on the expiry day and strong thumbs-up coming from the BFSI space could provide the much-needed thrust to push sentiments. As far as levels are concerned, a decisive closure above the ATH could open gates for the 19000 mark for Nifty. While on the flip side, 18750-18700 is likely to cushion any sort of blip, with sacrosanct support present at the 18650 zone,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.
08:57 (IST) 28 Jun 2023
Nifty support at 18700-18645
Nifty has formed a big bullish candle with a close above 18800. Long for new ATH. 19000/19200 expected shortly. First support at 18700 and then 18645 while resistance at 18900 and 19000, according to Rahul Sharma, JM Financial.
08:08 (IST) 28 Jun 2023
L&T Housing Finance, Manappuram Finance under F&O ban today
The National Stock Exchange has L&T Housing Finance and Manappuram Finance on its F&O ban list for 28 June. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
07:48 (IST) 28 Jun 2023
Stocks To Watch: HDFC, HDFC Bank, Wipro, SBI, ITC, Gland Pharma, Titagarh Wagons, LTIMindtree
The SGX Nifty recorded a 0.27% gain during Wednesday’s early trading session, with a value of 18,862.5 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex.
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