The Stock Market ended in red today, Sensex and Nifty settled over 1 percent lower whereas Bank Nifty declined 0.79 percent today. Right from the opening session itself, weakness persists in the Indian stock market due to the weak global cues. The Asian market like Shanghai, South Korea, HangSeng were traded in red, Nikkei was closed today. After new year holiday, Europe and US future also traded in red today.
Other than global cues in the domestic front GST collection is another reason to drag down the Indian stock market. GST collection has dropped to Rs 94,726 Crore in December 2018, the previous month it was Rs 97,637 Crore, the collection of Rs 2911 Crore less than the previous month.
The sectors like metal, auto, energy, and bank dragged the Indian Stock Market today. The metal stock was down due to the concern of a slowdown in China. Heavy correction in Auto stocks are also seen today, Eicher Motor is the biggest loser today almost down 9 percent. Other auto stocks like M&M, Maruti Suzuki, and Tata Motors were also down due to weak sales number in December.
Today's Top 10 Gainers and Losers in Nifty 50 Stocks are
| Top Gainer on 02-01-2019 | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Sun Pharma.Inds. | 440.05 | 433.55 | 6.50 | 1.50 | 679.30-390.60 |
| TCS | 1923.30 | 1902.80 | 20.50 | 1.08 | 2,275.95-1,310.10 |
| Asian Paints | 1383.30 | 1371.55 | 11.75 | 0.86 | 1,490.60-1,090.10 |
| Bharti Infra. | 264.25 | 262.25 | 2.00 | 0.76 | 383.45-242.25 |
| Infosys | 669.05 | 665.05 | 4.00 | 0.60 | 754.90-503.00 |
| Titan Company | 932.15 | 928.00 | 4.15 | 0.45 | 999.70-732.30 |
| UPL | 756.50 | 753.50 | 3.00 | 0.40 | 828.50-537.25 |
| ICICI Bank | 364.60 | 363.75 | 0.85 | 0.23 | 375.30-256.50 |
| Yes Bank | 184.65 | 184.25 | 0.40 | 0.22 | 404.00-146.75 |
| Top 10 Losers on 02-01-2019 | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Eicher Motors | 21162.30 | 23195.10 | -2032.80 | -8.76 | 32,236.70-20,001.15 |
| JSW Steel | 288.70 | 303.95 | -15.25 | -5.02 | 427.55-261.70 |
| Vedanta | 193.15 | 202.10 | -8.95 | -4.43 | 355.70-190.05 |
| Tata Steel | 493.65 | 515.75 | -22.10 | -4.29 | 755.52-486.15 |
| M & M | 741.70 | 773.35 | -31.65 | -4.09 | 993.00-694.00 |
| Hindalco Inds. | 214.55 | 222.75 | -8.20 | -3.68 | 284.00-192.35 |
| GAIL (India) | 350.30 | 362.15 | -11.85 | -3.27 | 399.40-295.25 |
| Tata Motors | 168.55 | 173.45 | -4.90 | -2.83 | 443.50-154.65 |
| Maruti Suzuki | 7267.85 | 7476.80 | -208.95 | -2.79 | 9,929.00-6,500.00 |
| Hero Motocorp | 3046.55 | 3127.60 | -81.05 | -2.59 | 3,825.00-2,648.00 |
Technical levels for tomorrow: Nifty and Bank Nifty
Nifty Technical Levels for 03-01-2019
Primary Trend: Volatility Remain High Real-Time Volatility of 15.73%
Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 10900 whereas all down moves initiate Short Covering (Buy) @ 10750
If Nifty moves above 10856 then you should Buy with 1st Target of 10915 during the day with a Stop Loss of 10795 For the Target of 10915-10945-10975
If Nifty moves below 10795 then you should Sell with 1st Target of 10735 during the day with a Stop Loss of 10856 FOR the Target of 10735-10700-10685
Bank Nifty Technical Levels for Weekly Expiry 03-01-2019
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| Bank Nifty Weekly Option Expiry |
Primary Trend: High Volatility Real-Time Volatility of 28.43%
Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 27425 whereas all down moves initiate Short Covering (Buy) @ 27125
If Bank Nifty moves above 27345 then you should Buy with 1st Target of 27450 during the day with a Stop Loss of 27200 For the Target of 27450-27500-27540
If Bank Nifty moves below 27200 then you should Sell with 1st Target of 27100 during the day with a Stop Loss of 27350 FOR the Target of 27100-27035-27000Conclusion:
Tomorrow is Bank Nifty weekly option expiry, the stock market will remain volatile throughout the day. The traders should keep in mind the above levels for any trade.
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Happy Investing!
Finogyan Team
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