Market Morning Notes For 20th July 2022
Markets on Tuesday crossed two important landmarks – on one side Nifty 50 Equal weighted Index closed above 200- Day Exponential moving average and on the other side, the ratio of BSE Financial Index to MCX Copper closed above 1000- the day simple moving average. These along with the Nifty crossing above the 16355 is an indication of a sharp rally in days to come. More funds would...
Market Morning Notes For 19th July 2022
Markets rallied on Monday to cross above 2 weeks high on the back of short covering in technology and metal stocks with the Nifty 50 regaining its control above 50 EMA and India VIX settling near the 17% mark. We can expect market momentum to continue for the next few days and expect the market to settle higher despite a lower opening with near term target seen at 17500. Lower reading...
IT Stocks Crash: Why IT Stocks Are Falling?
The Nifty IT sector has been one of the biggest losers amongst the sectorial baskets correcting almost 32%% from its high of 39,000. The Nifty IT sector is currently trading at 26,480 and is forming new lows in almost every trading session. The main concern regarding the IT companies is regarding its largest consumer – US-based companies. With growing concern regarding recession in the US,...
Market Morning Notes For 18th July 2022
Markets for the week remained under pressure on the back of USDINR hitting the 80 mark, but a sharp decline in Brent crude prices below USD 100 a bbl mark triggered a meaningful recovery to limit losses to less than 1% in Nifty 50 and Bank Nifty. The India VIX posted a closing below key support of 18% on back aggressive put writing and this would fuel a further rally in Nifty and Bank...
Weekly Market Report For 11th July to15th July 2022
The market remains extremely volatile; the Nifty rangebound between 15,900-16,200 Equity markets continue to remain volatile, and range-bound. The range however seems to have shifted higher from 15600 – 15800 and 16000 – 16200. The uncertainty regarding the direction of index movement remains due to high inflation in the economy and uncertainty over the FII inflow in the...
Market Morning Notes For 15th July 2022
Markets recovered from lows after falling crude prices and declining metal prices provided added cushion for Indian markets with the Nifty ending in marginal losses and Bank Nifty sustaining above its ‘triangle breakout’. The lower reading in India VIX of around 18% should be seen as a positive trigger for Indian markets as the market may be in consolidation mode mainly for sake of...
Market Morning Notes 14th July 2022
Markets succumbed to selling pressure on the back of weak global cues as US CPI soared by 9.1% from year-earlier thus raising the expectation of further rate hikes beyond 75 bps in the July fed meet. Nifty attempted to sustain above 16123 in the initial hours but USDINR crossing above 79.5 forced a fresh round of weakness in Bank nifty which fell almost 1%. The main trigger for Indian...
Market Morning Notes 13th July 2022
Markets remained under pressure on the back of weakness in the technology and metal sector with the Nifty closing below the key support of 16123 on Tuesday. However, with a sharp drop in Brent crude prices yesterday below USD 100 a bbl, it may fuel positive sentiment for Indian markets which have been battling with rising energy prices. On the backdrop of the bullish belt hold line...
Market Morning Notes For 12th July 2022
Markets opened lower amidst weakness in technology stocks but recovery in financials helped the Nifty to end on a flat note while Bank Nifty gained by 1%. The India VIX also ended on a flat note thus confirming a third consecutive close below 200 DMA and activating a major breakdown in the near term. With the support of heavy put writing in the system expect the market to trade with...