Pre Market Analysis – 9th Sep 2021
Bank Nifty rebounded from crucial support on Wednesday after Non-Financial stock came under selling pressure while USDINR reactivated monthly breakout on close above 73.60 for a potential target of 77.50. There is a direct negative correlation in USDINR and Bank Nifty and hence we may see wild swings in Bank Nifty in days to come. The Bank Nifty which so far has underperformed the Nifty by...
Pre Market Analysis – 8th Sep 2021
The market saw marginal cooling off on Tuesday with Nifty Bank continue to act as laggard while the Nifty managed to recoup losses and sustained above 17350. The Nifty Bank is 3% away from major breakdown levels and we may see more pressure on markets when USDINR regains above 73.60. U.S indices fell on Tuesday, as worries over the slowing pace of economic recovery overshadowed hopes that...
How to Check Income Tax Refund Status Online?
Income tax refund comes to the picture when individuals pay taxes higher than the actual income tax liability for that particular financial year. A taxpayer can claim a refund of this excess amount, and after proper assessment and going through certain documents, the income tax department makes the refund. ● According to reports, between April 1, 2021, to April 26,...
Pre Market Analysis – 7th Sep 2021
Nifty managed to sustain its gains above 17350 on Monday after support emerged from IT stocks while Nifty Bank remained under pressure throughout the trading session. The ratio of Nifty Bank to Nifty has breached important support of 2.15 in yesterday’s trade and this may activate major selling in banking stocks in days to come. With the law of averages prevailing, we can expect Nifty to come...
ITR Filing Online Process Step-By-Step
An income tax return (ITR) filing doesn’t have to be a worry. You don’t need to take help from an expert or continuously worry about deadlines. Today we can file taxes online. The process of filing taxes online is called E-filling. It is quite a simple task and E-filling can be done in just a few minutes from the comfort of your home or office. As per Income Tax Act, 1961 every individual...
Pre Market Analysis – 6th Sep 2021
Indian markets gained almost 4% for the week outperforming most of the global markets and the Nifty closed above the psychological barrier of 17000. With breakout in historical volatility on 26th August, we have entered into a high volatility phase in days to come. This would mean either Nifty has the potential of rally to 18666 or will move lower to 15244. The pivot point for wide swing is...
Weekly Market Research by Fintoo – 5th Sept 2021
New highs yet again, relentless rally continues Markets scaled new highs in line with global market cues after the US Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in a long-awaited speech last Friday. Sentiments were boosted after the RBI said that India’s holding of IMF’s Special Drawing Rights (SDR) has gone up to SDR 12.57 bn...
Understand form 26AS – FFC episode 38
Form 26AS is a statement of tax credit generated by the Income-Tax Department based on your PAN number for every financial year. It contains details of the tax deducted on your behalf by employers, the bank/institution in which you have an investment and the sale/purchase or rent of the immovable property. To get an in-depth idea on form 26AS from our taxpert, do watch our...
Pre Market Analysis – 3rd Sep 2021
Indian equity benchmarks resumed record closing high spree after a day’s blip on the weekly F&O expiry day, tracking gains in index majors TCS, Hindustan Unilever and Ultratech Cement. Markets witnessed the continuation of a positive trend, as investors cheered RBI’s statement that India’s holding of IMF’s Special Drawing Rights (SDR) has gone up to SDR 13.66 billion which is...