Weekly Market Report For 10th – 14th July
Market stabilizes after a steep fall, Q2 earnings season, and Commodity trends dictate trend. Markets posted third straight weekly gains on the back of strong global market cues and broad-based buying in all sectoral indices. Sentiments got a boost as the Reserve Bank of India (RBI) announced a series of measures to attract foreign flows in a bid to protect the local currency amid...
Market Morning Notes 8th July 2022
Markets gained momentum on Thursday with Nifty closing above the critical hurdle of 16123 and Bank Nifty surging by almost 2%. The journey from 16123 to 17500 may turn out to be fast in the near term with Bank Nifty expected to reach 38000. The major punch for the market is expected from the short-covering of FII in the derivatives market and hence large financial stocks are likely to...
Market Morning Notes For 7th July 2022
Markets confirmed a major reversal on Wednesday after S&P Dollex 30 posted a closing well above crucial resistance of 5555 after initial hiccups. The breakout from ‘falling wedge’ which is a bullish setup has led to massive short covering by FIIs in the derivative segment with FII adding Rs 3000+ crore in the future segment. The Bank Nifty outperformed Nifty with a wide margin and...
Market Morning Notes For 5th July 2022
Markets ended on a positive note after initial jitters with recovery led by gains in Nifty Bank while metals and technology stocks continued to remain under pressure as Bank Nifty formed a ‘Bullish White candle’. There has been a major shift in the sectoral dynamics in the past few weeks and whenever a rally in the market is contributed by gains in banking stocks, it is more likely to...
Indian IT Stocks experience correction – Time To Take Advantage?
Share prices of Indian IT companies have seen a sharp correction recently with the Nifty IT index down 27 %so far this year (CY22). Midcap IT stocks like L&T Technology Services, L&T Infotech, and Tech Mahindra have corrected between 40-45 % while larger names like TCS and Infosys have corrected by 12-22%. Also, U.S. Tech stocks have fallen quite sharply with the Nasdaq 100...
Market Morning Notes For 4th July 2022
Markets continued to witness volatile trade tracking weak global trends as inflation and recession fears kept investors on edge. Markets have struggled for direction which is also evident from dwindling volumes. However, the spread of the Nifty 50-Nifty 500 Index has been approaching a ‘Bullish Triangle’ breakout and this would mean the next leg of the up move would be highly concentrated...