Market Morning Notes For 14th October 2022
Indian markets remained nervous on Thursday ahead of US CPI numbers with the Nifty 50 ending with losses of 0.6% but sustained above the 200 EMA. The initial reaction of US markets when they opened for trading was negative after US CPI numbers came higher than expected. US indices however reversed losses to end higher by more than 2% after the announcement of Fed Swaps price in the peak...
Do You Need To Pay Tax On Diwali Gifts?
Diwali is just around the corner and we are eagerly waiting to once again hear the sound of laughter in our home, filled with family and friends remembering the old times while making new memories. We are even excited to light up our balconies with lanterns and doorsteps with diyas to make this festival of lights even brighter. Diwali is that time of the year when we wake up early in...
Market Morning Notes For 13th October 2022
Markets rebounded from the support of 200-DMA outperforming most of its global peers to close near the key resistance of 57634 in Sensex. The key breakout levels to watch in the coming days would be 17235 above which, Nifty would be positioned to hit 18800 in a quick span of time. There is a breakout in Axis Bank in USD terms for a 30% upside, which may trigger major buying in Bank Nifty...
Market Morning Notes For 12th October 2022
Markets succumbed to selling pressure on Tuesday on the back of weakness in the global market which forced the Nifty 50 to end below the 17000 mark while Sensex breached the key support of 57634. With yesterday’s decline, the Nifty 50 has moved closer to 200-EMA which is placed at 16902 with a possible attempt of ‘Double bottom’. With the previous week’s closing with a bullish green...
Weekly Market Wrap From 3rd To 7th October
Markets snap 3-week losing streak; Quarterly earnings in focus in the coming week Indian stock market position Equity markets snapped a three-week losing streak and logged modest gains even as volatility remained high. Markets rebounded after witnessing a sharp sell-off in the past couple of weeks as Nifty got supported by a rally in metal, realty, and IT stocks. Global...
Market Morning Notes For 11th October 2022
Markets recovered from lows on Monday to finally close with losses of less than 0.5% on the back of gains in technology stocks with Sensex closing above the key resistance of 57634. The current setup of bullish ‘Broadening Descending Wedge’ in SGX Nifty clearly marks the accumulation phase and we expect a major upswing towards 18800 on a move above 17360. Adding to it, US markets have...
Market Morning Notes For 10th October 2022
Markets last week ended with gains of over 1% after Sensex was able to close above the key resistance of 57634 despite pressure in the rupee where USDINR closed above 82.50 on the international exchanges. The current setup in SGX Nifty clearly indicates the formation of a ‘Broadening Descending Wedge’, which is highly bullish, and post-breakout above 17370, prices are likely to see a sharp...
Has RBI Repo Rate Hike Made Us Prioritize Wants Over Needs?
While glancing through the newspaper on a regular Tuesday morning, we stumbled upon a survey highlighting the data on peoples’ purchasing desires. Even though this segment was aimed at making brands aware of the consumers’ festive season wish list, what drew our attention was that 44% of people expressed their desire to buy clothes and jewellery. Nothing absurd about it, right? ...
Market Morning Notes For 7th October 2022
Markets opened with a gap-up yesterday but failed to sustain the positive momentum and closed with little gains as volatility emerged ahead of the weekly expiry day. Overall market breadth remained bullish, where 1,620 stocks advanced against 681 declined stocks. The 8-Bar reversal has activated a major reversal from the downtrend and the appearance of a breakout in the spread of the Nifty...