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The market witnessed broad-based selling during Friday's trading session, marking its biggest fall in four months. The Sensex dropped by 1,000 points in three out of five sessions last week. The Nifty gave up key support levels and ended at a one-month low. Share Market View All Nifty Gainers View All Company Value Change %Change During the week, the market slipped below the 20-day and 50-day Simple Moving Averages (SMA), and post-breakdown, selling pressure intensified. All BSE-listed companies collectively lost a market capitalisation of ₹19 lakh crore last week. Of the 50 Nifty stocks, 48 delivered negative returns, and 30 fell by over 5%. Only two Nifty stocks, Dr Reddy's Laboratories and Cipla, recorded gains during the week. The sharp sell-off in heavyweight sectors such as banking and IT, which had previously supported the market, has shifted the bias back to bearish. Weakness in the rupee, along with a relatively stronger US market performance driving outflows, is compounding the current challenges. Persistent selling by Foreign Institutional Investors (FIIs), coupled with the hawkish tone of the US Federal Reserve, disrupted the recovery phase. Going ahead, the coming week is shortened due to holidays, and participants will closely monitor FII flow trends and global market performance for direction. Additionally, the scheduled expiry of December’s derivative contracts may amplify volatility. Foreign institutions continued to remain net sellers in the cash market on Friday, while their domestic counterparts were net buyers. What do the Nifty50 charts indicate? Nifty ended Friday's trading session at 23,587.50, recording a sharp fall of 1.52%, and capped off the week with a staggering 4.77% decline—its largest weekly drop in 2024. The bearish engulfing pattern on the weekly chart has shifted the broader trend from positive to bearish. The Nifty50 index has slipped below the 200 DMA, signalling further weakness in the medium term. The indicators have also turned unfavourable, with the RSI on both daily and weekly charts dipping below the 45 mark, reflecting a loss of upward momentum, said Om Mehra of SAMCO Securities. Mehra said the support lies at the previous swing low of 23,263, a critical level that must hold to prevent deeper corrections. He further said that the index appears increasingly fragile, with the 24,200 mark emerging as a key resistance. According to Nandish Shah of HDFC Securities, the Nifty violated its 200 days SMA and EMA supports and closed on a weak wicket. The index is in continuation of a down trend and the only support which is visible on the chart is the swing low of 23263, made on November 28, 2024. 200 days SMA which is placed at 23834 is now expected to act as an intermediate resistance for the short term. From a technical standpoint, as Nifty slipped below the pivotal zone of 200 SMA, the next potential support could be seen around the recent swing low around 23200-23100, while a decisive breach is likely to open further downside towards 22800 in the near period, said Osho Krishnan of Angel One. As far as resistance is concerned, he believes that 23800-24000 is likely to be seen as an intermediate hurdle, followed by 24150-24300, coinciding with the bearish gap and the cluster of EMAs on the daily charts for the upcoming truncated week. Based on the current chart structure, the Nifty index appears poised to test its previous low of 23,263. This conclusion is supported by technical indicators that suggest bearish momentum in the coming sessions, said Jigar S Patel of Anand Rathi Shares and Stock Brokers. "In the ongoing session, the index has breached its 200-day Exponential Moving Average (DEMA), which was positioned around 23,692. This is a significant technical development, as the 200 DEMA often acts as a critical support level in a trending market. A decisive breakdown below this level can indicate further downside potential. Moreover, on the daily chart, the Moving Average Convergence Divergence (MACD) has formed a negative crossover, a bearish signal that typically suggests bearishness. These combined factors—the breach of the 200 DEMA and the bearish MACD crossover—highlight the likelihood of the Nifty index revisiting the previous low of 23,263 in the near term," Patel said. Ajit Mishra of Religare Broking said the November low around the 23,250 zone now emerges as the next key support, while the 23,850-24,000 range serves as a resistance zone for any recovery attempts. What do the Bank Nifty charts suggets? Nifty Bank witnessed a sharp decline, closing at 50,759.20, down 816.50 points or 1.58% for the day. Over the week, the index has shed 5.27%, marking its steepest weekly drop in 2024. Mehra belives the support stands at the previous swing low of 49,787, a critical level that must hold to avoid deeper corrections. Additionally, the index is trading below its 50 DMA, indicating ongoing weakness. The 200 DMA, currently around 49,500, offers minor support but may not be sufficient to counter sustained selling pressure. The resistance remains at 51,500 followed by 51,800. "For the Bank Nifty, on the lower side, 50500 or the 200-day SMA would act as a crucial support zone. If it sustains below this level, it could slip to 50300-49800. Conversely, if it breaks above 51200, it could bounce back to 51800-52200. Short-term traders should remain cautious and selective, as there is a risk of being trapped at lower levels," said Amol Athawale of Kotak Securities. Here are the stocks to watch ahead of Monday's trading session: - Reliance Industries arm Reliance Digital Health enters into agreements to acquire 45% stake in US-based Health Alliance Group for $10 million. The acquisition is to develop a virtual diagnostic and care platform, expanding access to healthcare for underserved communities. - Vedanta announced revisions to its previously proposed demerger scheme, deciding to retain its base metals undertaking within the parent company. This decision follows discussions with stakeholders, including lenders, and was approved by the Board on December 20, 2024. - UltraTech Cement : To acquire 10.13 crore shares (32.72% equity) of India Cements held by the promoters & member of promoter groups. Makes an open offer for 8.05 crore shares (26% equity) at a price of ₹390 per share from public shareholders. - Piramal Enterprises board approves raising funds up to ₹2,000 crore via QIPs in one or more tranches. - Fortis Healthcare acquires 7.61% stake in Agilus Diagnostics for ₹429.37 crore. - NTPC Green Energy signs Memorandum of Understanding with Bihar Government for investments to establish renewable energy projects. - RBI imposes monetary penalty of ₹27.3 lakh on IndusInd Bank . Charge pertaining to opening of certain savings deposit accounts in the name of ineligible entities was sustained. - Aurobindo Pharma arm CuraTeQ Biologics receives marketting authorisation from UK’s Medicines and Healthcare products Regulatory Agency (MHRA) for Bevqolva. Bevacizumab is used in the treatment of multiple cancers including metastatic colorectal cancer. - RBI imposes monetary penalty of ₹20 lakh on Manappuram Finance . Inspection of financial position as on March 31, 23.non-compliance with RBI directions & related correspondence.
What short-term investments should I make if I need cash quick? Thank you, — In Need of an Infusion Dear In Need, This depends a little on what you mean by “quick,” but in general, experts don’t advise turning to investments as a source of short-term income. That’s because investment is about the long game. Your money grows over time, even as the stock market ebbs and flows, and you benefit from reinvesting your gains so they compound . You can’t ever count on short-term gains, because the market is unpredictable. People playing the stock market that way risk big losses as much as they hope for big gains, so it’s only feasible if you already have a lot of money to gamble with — and a skilled advisor to guess where the wins might be. If you need cash quick, like, today , look around you to see if there’s anything you can sell . Books, electronics, DVDs, records, furniture and clothes could all net you a little cash in hand quickly if you connect with a local seller, send them to a resale site or sell them to a consignment store. You could also try a cash advance app , which lets you borrow a small loan based on your income and automatically repays it with your future paychecks. The loans take one to three days to fund, if you’re eligible, and it might take a few days for the app to approve your account, so this might pay out in a week or two. These apps operate similar to payday loans, but without the exorbitant fees. Other payday loan alternatives include peer-to-peer lenders, crowdfunding, pawn shop loans, secured loans, paycheck advance or a credit card advance, depending on what you have access to. A peer-to-peer loan from an app like SoLo could get between $50 and $500 in your account today from an individual for the small cost of a tip of your choosing. Dana Miranda is a Certified Educator in Personal Finance® and author of YOU DON’T NEED A BUDGET. She writes Healthy Rich , a newsletter about how capitalism impacts the ways we think, teach and talk about money. This was originally published on The Penny Hoarder , a personal finance website that empowers millions of readers nationwide to make smart decisions with their money through actionable and inspirational advice, and resources about how to make, save and manage money.‘I swear by yoga’
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