Nifty crashes after Trump inspired rally fades.

*Review & Preview @4PM —— Thursday, November 7th 2024*

NIFTY (-285, 24199)
Sensex (-836, 79542)
Bank Nifty (-401, 51917)

Nifty crashes after Trump inspired rally fades. All sectoral indices end in red.

Investors moved on to the sidelines ahead of the US Federal Reserve’s interest rate decision tonight.

# Sentimental Overview:

Fed meeting now on tap!

Market participants are highly confident the Fed will deliver another quarter-point cut to the short-term Federal funds rate.

(According to CME Group’s FedWatch Tool, futures traders assigned a 98% probability to the FOMC cutting rates by 25 basis points (bps), or 0.25%).

*Commanding attention will be Powell’s post-statement presser.*

# Buzzing stocks:

1) M&M Q2 results: Net profit rises 13.2% to ₹3,841 crore, revenue up 13% YoY. M&M said its automobile segment recorded the highest ever quarterly volumes at 2,31,038 units in the quarter ended September 2025, up 9% YoY. M&M tractor sales during the quarter rose 4% YoY to 92,382 units.

# Technical Overview:

Technically speaking, Nifty faltered after yesterday’s massive strength.

Yesterday’s Rebound now looks like a Dead Cat Bounce!

Strictly speaking, ‘Dead Cat Bounce’ is a temporary price recovery following losses, that is followed by more losses.

Immediate downside risk on Nifty is placed at 23816 mark; aggressive downside targets are at Nifty’s 200 DMA at 23496 mark.

The fear index, India VIX, which gauges the volatility in the Indian stock markets, is consolidating at 15.06 points.

# Underperforming Nifty Sectors:
Nifty Metals (-2.72%)
Nifty Pharma (-1.71)
Nifty Energy (-1.45%)
Nifty Reality (-1.42%)
Nifty Auto (-1.28%)

# Bulls of the day:
APOLLOHOSP (+6.34%)
SBIN (+0.42%)
HDFCLIFE (+0.40%)
TCS (+0.15%)

# Bears of the day:
HINDALCO (-8.42%)
TRENT (-6.12%)
GRASIM (-3.07%)
SHRIRAMFIN (-2.96%)
ADANIENT (-2.74%)
(Source NSSEINDIA.com)

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