Market Morning Notes For 18th July 2023
Markets rallied further on Monday on the back of domestic buying to help Nifty clear 19,700 levels but India VIX suddenly shot up by 6% to the 11.3 level mark. The sudden surge in India VIX provides a warning signal that the up move remains unsustainable and may trigger a sharp reversal in the coming days. The Nifty 50 Total Return Inverse Index, which tracks the Nifty 50 Index inversely, has...
Netweb Technologies IPO Detailed (Subscribe)
Highlights Issue Size – 1.262 – 1.284 cr sharesIssue Open/Close – Jul 17 /Jul 19, 2023 Price Band (Rs.) 475-500Issue Size- Rs 6,098- 6,310 mnFace Value (Rs) 2Lot Size (shares) 30 Netweb Technologies India Ltd. (NTIL) is a Delhi-based High-end Computing Solutions (HCS) provider. They serve a variety of industries, including IT, IT-enabled services, entertainment, media, BFSI,...
Income Tax Refund: How to check and claim Income Tax Refund
As per Section 237 of the Income Tax Act, of 1961, taxpayers can claim a refund on their ITR for any extra tax paid. However, many people are unaware of their eligibility to claim a refund. So, let’s find out what exactly is an ITR refund, how to check if you can claim it, and how to claim it. What is an Income Tax Refund? Have you ever encountered a situation where you’ve paid...
Market Morning Notes For 14th July 2023
Markets witnessed the last hour of selling to erase opening gains of 1% forcing Nifty to settle around 19400 with the breadth of the market turning in favour of declines. The sudden reversal can be attributed to a sharp decline in USDJPY which has slipped below 138 and may trigger major carry trade unwinding in Indian Markets. Brent crude prices which remained stable around USD 75 have...
Market Morning Notes For 13th July 2023
Markets failed to sustain a higher opening on Wednesday and were followed by a reversal setup of a bearish engulfing line on a daily candlestick. Nifty ended below 19400 levels along with negative closing in India VIX. The sharp drop in USDJPY in the past few days has applied brakes to rally in the Indian markets and Sensex has further room for downside towards 64150 before we enter into a...
Common Mistakes to Avoid while filing ITR
As the ITR filing due date is almost nearing, many taxpayers are hurrying to file their ITRs. While it is crucial to get your ITR filed before 31st July 2023, it is also essential to ensure you don’t rush into it. Usually, individual taxpayers prefer handling their tax filing on their own. So, complications in understanding the tax laws and the last-minute filing pressure can cause taxpayers...
Market Morning Notes For 12th July 2023
Markets formed doji star on Tuesday after prices cooled from the day’s high after testing 19500 levels indicating signs of indecisiveness. The India VIX extended losses to the end near the 11 mark with aggressive put writing in the system as the market attempts to form a new base around 19000 in Nifty. In the coming days, the outlook remains cautious with the overall expectation that...
Calculating Mutual fund Returns – CAGR, XIRR and Absolute Returns
Returns are a major reason why any investor would want to invest in a scheme. But these returns depend on various factors. For example, when it comes to mutual funds, the returns generated by a fund are based on the performance of the underlying asset, the expense ratio, market conditions, etc. Let’s say you are getting a mutual fund return of 13% over the past three years,...
Market Morning Notes For 11th July 2023
Markets activity remained range bound as Nifty struggled to cross above 19500 due to weakness in Banks. The outlook for market remains cautious with major trend reversal support seen at 19200 while resistance is seen in the range of 19500-19600. We expect market to see base buildup around 19200 (will remain rangebound) before we see sustainable up move in the near term. Sensex Chart...