Nilesh Jain on Nifty, Bank Nifty, OMC, IT Stocks, Crude-Related Stocks and Sector Trading Ideas

Nilesh Jain, VP-Head Derivatives and Technical Research at Centrum Broking, expects a strong pullback in the Nifty index towards 24,700-24,800, with support at 24,600 and resistance at 24,800. He recommends focusing on sectors and stocks, with optimism surrounding OMC space and crude-related stocks. Large-cap IT stocks like Infosys, HCL Tech, TCS, and Wipro show rebound signs, potentially driving momentum towards 36,000. Asian Paints is poised for an upward trajectory towards 2600-2620, while Manappuram Finance exhibits strength, mirroring Muthoot Finance's post-earnings surge.

BlackRock's iShares Ethereum Trust (ETHA) and iShares Bitcoin Trust (IBIT) recorded a combined $1 billion in net inflows on August 14, despite a broader market pullback that saw Bitcoin and Ethereum prices decline by over 5% [1]. ETHA alone attracted $520 million in inflows, while IBIT added $523.74 million, making BlackRock the largest contributor to both U.S. spot Ethereum and Bitcoin ETFs on the day [2]. These figures highlight the firm’s continued leadership in the digital asset space and underscore strong institutional demand for exposure to crypto through regulated, liquid vehicles.

The buying surge came amid a technical development in Bitcoin’s price action, as the asset partially filled a key gap in the CME Group’s Bitcoin futures market. This is often seen as a sign of stabilization after a sharp sell-off, with traders noting that Bitcoin has held key support levels, suggesting a potential bottoming process [1]. The confluence of strong ETF inflows and positive price action has led some analysts to speculate that the market may be approaching a turning point [2].

BlackRock’s growing presence in the crypto market is also reflected in its expanding holdings. The firm now holds 774,240 Bitcoin and 3.2 million Ethereum, valued at approximately $88.43 billion and $14.78 billion, respectively [3]. Since the start of 2025, BlackRock’s crypto holdings have grown by about $50 billion, reaching a total of $103.98 billion as of the latest data [4]. The iShares Bitcoin Trust alone now manages $91.06 billion in assets under management, reinforcing its dominance in the U.S. spot Bitcoin ETF market [5].

The sustained inflows into BlackRock’s crypto ETFs signal a broader shift in how institutional investors are approaching digital assets. Rather than viewing them as speculative, many are now treating Bitcoin and Ethereum as part of a diversified portfolio, using ETFs to access the asset class with greater ease and regulatory clarity [2]. This trend is being supported by the development of more robust financial infrastructure, making it easier for large investors to allocate capital into crypto.

As the market continues to evolve, the performance of BlackRock’s ETFs and the price behavior of Bitcoin and Ethereum will remain key indicators of institutional confidence. If the current trend of inflows persists and prices stabilize, it could mark a turning point in the maturation of the crypto market.

References:
[1] BlackRock Bitcoin, Ether ETFs buy $1B as BTC price mostly fills CME gap - Cointelegraph (https://cointelegraph.com/news/blackrock-bitcoin-ether-etfs-buy-1b-btc-price-mostly-fills-cme-gap)
[2] BlackRock Bitcoin, Ether ETFs buy $1B as BTC price mostly fills CME gap - advfn.com (https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96649184/blackrock-bitcoin-ether-etfs-buy-1b-as-btc-price)
[3] BlackRock's Crypto Holdings Balloon As Bitcoin, Ethereum ... - Mitrade (https://www.mitrade.com/insights/news/live-news/article-3-1043675-20250815)
[4] BlackRock now holds over $100 billion in crypto - Finbold (https://finbold.com/blackrock-now-holds-over-100-billion-in-crypto/)
[5] BlackRock's Bitcoin ETF hits $91.06B AuM - Mitrade (https://www.mitrade.com/au/insights/news/live-news/article-3-1041531-20250815)