Weekly Market Report For 12th to 16th Sept
Equity markets fell during the week as higher than expected inflation in the U.S increased the chances of aggressive rate hikes from the U.S Federal Reserve at its upcoming policy meet. Core CPI for August was 6.3% YoY vs an expectation of 6.1% YoY and a prior reading of 5.9% YoY. This sent expectations of a 100-bps rate increase at the upcoming policy meet. The Nifty ended...
Market Morning Notes For 20th September 2022
Markets rebounded from lows to end in positive terrain with Nifty closing above 17,600 but breadth of market remained negative. The September series VWAP for Nifty is placed at 17666 above which, bulls will gather steam to re-test its all-time high. The main trigger for outperformance of Indian market against its global peers likely to come from breakout in ratio of Nifty 50 to MCX WTI...
Market Morning Notes For 19th September 2022
Markets on Friday sold off ahead of U.S Fed meet on expectations that a higher-than-expected CPI number would force the Fed to resort to an aggressive rate hike of 100 bps to curtail inflation. Nifty ended lower by 1.7% after hitting 24 weeks high while Bank Nifty posted weekly gains of 1% after hitting an all-time high. Due to sectoral diversion in the Indian market with the Nifty IT...
Market Morning Notes For 16th September 2022
Markets remained under pressure on Thursday on the back of weakness in technology stocks with the Nifty ending lower below 17900 as Bank Nifty retracted after hitting lifetime highs. The current setup in Sensex post 19 August has emerged in a bullish ascending triangle and this would mean the market has gathered enough firepower to hit 19000 levels in Nifty in the coming days. Yesterday’s...
Market Morning Notes For 15th September 2022
Markets bucked the global trend yesterday with Nifty 50 positing a sharp recovery from lows of 17771 forming a ‘Bullish Piercing line ‘pattern setup while Bank Nifty ended with decent gains of 1.3% forming a ‘Bullish Belt Hold Line’ pattern on the candlestick chart. The weekly breakout for the Nifty 50 Index which was confirmed last Friday has acted as a major catalyst for a sustainable...
Market Morning Notes For 14th September 2022
Markets extended gains on Tuesday with the Nifty closing well above the 18000 mark while broader markets underperformed. The consistent FII buying in the past few days has created a solid cushion for Indian markets which may force Indian markets towards an all-time high in the coming days. In event of hiccups, like today’s trading session where Indian indices may open a gap down on the...
Market Morning Notes For 13th September 2022
Markets began on a positive note on Monday with the Nifty 50 attempting to cross-resistance of 18000 but failed to close the above same. The ratio of Nifty 50 to Crude may act as a crucial trigger for Indian markets in the near term and force FIIs to realign their incremental investments in Indian Equities. We expect major short covering above 18000 with an expectation of Nifty taking out...
Market Morning Notes For 12th September 2022
Markets for the week posted smart gains with Nifty 50 convincingly closing above the weekly breakout line while Bank Nifty ended higher by almost 3% to close above the 40,000 mark. The weekly breakout above 17,800 followed by India VIX closing below the 18% mark is likely to add further momentum to the Indian markets with the expectation of a new all-time high in the coming weeks. Adding...
Weekly Market Report For 5th to 9th Sept
Markets extend flat in a volatile week; FII flows and global cues dictate trend Equity markets gained during the week on the back of supportive global market cues with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. European markets were trading higher, as investors digest the European Central Bank’s jumbo rate hike ahead of a key EU meeting to...