Nifty enjoyed strong bullish session and ended the September F&O expiry with a bang.

*Review & Preview @4PM —— Thursday, September 26th 2024*

NIFTY (+212, 26216)
Sensex (+666, 85836)
Bank Nifty (+274, 54375)

It was another record-breaking day for Indian stocks as Nifty enjoyed strong bullish session and ended, September F&O expiry with a bang.

The Positive catalyst: Dow Futures Point to Strong Gains After Micron Earnings.

# Buzzing stocks:

1) Auto stocks were the biggest outperformers and on the top gear, with the Nifty Auto index scaling a record high of 27526 on reports that SEBI has approved Hyundai Motor India’s Rs 25,000-crore initial public offering (IPO). Maruti Suzuki India zoomed 4.48% at 13358, Mahindra & Mahindra (+2.49%, 3168) and Tata Motors (+2.83%, 991).

2) Healthcare service provider Krsnaa Diagnostics was in limelight following the announcement of a strategic investment in Apulki Healthcare (Apulki), India’s first Public Private Partnership (PPP) dedicated to cancer, and cardiac care hospitals.

#  Sentimental Overview:

Investors seen cheering the Federal Reserve’s jumbo-sized rate cut.

Most importantly, traders seen betting on further interest rate cuts from the Federal Reserve this year.

According to CME Group’s FedWatch Tool, futures traders are assigning a 59% chance to another half-point cut – up from 37% a week ago – at the next Fed meeting.

# Technical Overview:

Nifty’s winning streak continued for the 6th straight day.

Nifty’s ongoing bull market seems in full stampede mode and the short-term technical outlook continues to remain in favor of bulls on backdrop higher/high low pattern on all time frames.

Nifty’s immediate goalpost now at 26500 milestone.

The line in the sand is at Nifty’s psychological support at 25900 mark. Please note, Nifty’s 200-DMA is placed at 23021 mark.

# Outperforming Nifty Sectors:
Nifty Auto (+2.26%)
Nifty Metal (+2.13%)
Nifty PSU Banks (+1.02%)

# Bulls of the day:
MARUTI (+4.48%)
GRASIM (+3.19%)
TATA MOTORS (+2.83%)
SHRIRAMFIN (+2.78%)
BAJAJFINSV (+2.59%)

# Bears of the day:
CIPLA (-1.47%)
ONGC (-1.24%)
L&T (-0.89%)
HEROMOTOCORP (-0.80%)
NTPC (-0.60%)

(Source NSSEINDIA.com)

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Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.