Stock Market Today: Sensex| Nifty| Bank Nifty down ahead of Interim Budget 2019

stock market today
Stock Market Today

Stock Market Today: There was a positive indication from the global market in the morning. It was a green start in the morning for Indian stock market. But suddenly the selling pressure on Banks, NBFC, Auto dragged down the Indian stock market. At the end of the day Sensex and Nifty down more than 1 percent whereas Bank Nifty dragged 1.70 percent today. NSE mid and small-cap index also lost 2.1 percent and 1.76 percent respectively at the end of the day.

There are only a few days left for Interim Budget 2019 and we have already indicated a volatile week ahead for the Indian stock market on last Friday. An Interim Budget ahead of the election means a lots of promises and announcements which can increase the fiscal deficits. This can be one of the reasons for FIIs sell-off in the month of January and dragged down the Indian stock market.

Tomorrow, Axis Bank will announce its third quarterly result you can again expect a volatile session in Bank Nifty. On 30th, Wednesday ICICI Bank will announce its Q3 result. The positive result of any of these two banks can change the mood of Bank Nifty and reverse the direction towards northwards.

Nifty 50: Top Five Gainers and Losers of the Day


Top 5 Gainers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Zee Entertainmen373.3318.454.917.24619.00-288.30
Bharti Infra.287.3279.757.552.7355.65-242.25
Coal India225.2220.954.251.92316.95-218.05
TCS1,955.001,920.8034.21.782,275.95-1,390.78
Larsen & Toubro1,300.451,285.45151.171,470.00-1,182.50
Top 5 Losers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Adani Ports326.1373.85-47.75-12.77450.00-292.10
Indiabulls Hous.699.3744.5-45.2-6.071,440.00-639.05
Yes Bank207.5219.6-12.1-5.51404.00-146.75
Bajaj Fin.2,458.502,599.55-141.05-5.432,994.00-1,511.20
Bajaj Finserv6,050.906,321.55-270.65-4.287,200.00-4,500.00

Technical levels for tomorrow: Nifty and  Bank Nifty (Future)


Nifty Technical Levels for 29-01-2019

Primary Trend:  Down,  Real-Time Volatility of 11.0760 % (Range of 90 Points)

Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 10750 whereas all down moves initiate Short Covering (Buy) @ 10640

If Nifty moves above 10717 then you should Buy with 1st Target of 10780 during the day with a Stop Loss of 10670 For the Target of 10780-10818-10853 - 895

If Nifty moves below 10670  then you should Sell with 1st Target of 10605 during the day with a Stop Loss of 10720 FOR the Target of 10605-10570-10537 - 10495

Bank Nifty Technical Levels for 29-01-2019


Primary Trend: Down, Real-Time Volatility of  13.2236% (Range of 269 Points)

Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 26925  whereas all down moves initiate Short Covering (Buy) @ 26600

If Bank Nifty moves above 26825 then you should Buy with 1st Target of 27025 during the day with a Stop Loss of 26700 For the Target of 27025-27125-27225 - 27350

If Bank Nifty moves below 26700  then you should Sell with 1st Target of 26495 during the day with a Stop Loss of 26825 FOR the Target of 26495-26395-26295 - 26125

Conclusion:


The Indian stock market dropped sharply today, the heavyweight stocks like RIL, ICICI, Axis dragged down the market to the negative zone. Though the Nifty and Bank Nifty chart shows both the index are in the negative zone but any positive news can reverse the sentiment. Markets to witness highly volatile session this week ahead of monthly expiry and  Interim Budget 2019. Traders are advised to remain extra cautious this week.


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Happy Investing!

Finogyan Team





Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.






Stock Market Today: Sensex| Nifty| Bank Nifty down ahead of Interim Budget 2019 Stock Market Today: Sensex| Nifty| Bank Nifty down ahead of Interim Budget 2019 Reviewed by Finogyan on January 28, 2019 Rating: 5

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