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Markets erased opening losses to close at the highest point of the day with Nifty in USD terms reconfirming a breakout for the second consecutive trading session. Going forward, we expect buying momentum to accelerate further with an immediate target for the week placed at 17,870 and 19,500 thereafter. Nifty 50 in USD terms Stocks to watch Positive Read through Alembic...
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Markets for the week began on a positive note but late selling on Monday’s trading session forced Nifty to close below 17600. Monday’s closing is seen as a positive trigger for Indian markets as the ratio of Nifty 50 in USD terms has activated a breakout from the falling wedge setup and paving way for an immediate upside towards 18,700 in the coming days. The weekly closing would...
Nifty bounces from support levels; Global cues will be in focus in the coming week Markets ended with minor gains with broader markets outperforming as sentiments remained cautious on weak global cues. Markets ignored Federal Reserve Bank of Atlanta President Raphael Bostic’s comments that the central bank could be in a position to pause rate hikes sometime this summer. For the week,...
Markets rebounded with a vengeance after the 8-Bar reversal helping the Nifty 50 to regain above 200-DMA with midcaps and small-cap counters outshining key benchmark indices. The 8-bar reversal setup had occurred at a time when S&P Dollex 30 i.e., Sensex in USD terms was testing its down thrust of a bullish pattern i.e., falling wedge. This U-turn in Dollex 30 index opens the scope...
Markets inched further lower on Tuesday to extend losses for 8 consecutive trading sessions and formed an 8-bar reversal pattern on the candlestick chart. These 8 consecutive lows imply oversold positions and an immediate rally could force prices toward their intermediate high which provides a target of 18,134. As prices are forced in extremely oversold terrain, reversal often occurs...