Market Morning Notes For 26th September
Markets for the week ended with losses of 1% after US Fed hiked key rates by 75 bps thus forcing global indices to plunge by 3-4% across including commodity prices. Despite bearish sentiments, the Indian markets have seen significant outperformance against the Nasdaq and Dax Index with Sensex outperforming by a margin of 24%. In the short-term, the price setup in Sensex after the recent...
Market Morning Notes For 23rd September 2022
Markets reacted to the Fed rate hike of 75 bps with the Nifty ending lower by 0.5% outperforming most global markets but USDINR surged to lifetime highs towards 81 on the back of the strong dollar. The impact of rising in USDINR was felt in Bank Nifty which saw a decline of more than 1% but the broader market remained strong with both mid-cap and small-cap ending in positive terrain. For...
Market Morning Notes For 22nd September 2022
Markets turned cautious on Wednesday to end lower ahead of Fed rate action and the Nifty managed to sustain above important Sep Series VWAP support of 17666 even during the closing session. On daily basis, the Nifty is still trading above the breakout line which increases the probability of a sharper up move towards an all-time high, and lower brent crude prices below USD 90 should further...
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Market Morning Notes For 21st September 2022
Markets ended with gains of 1% after opening higher which helped Nifty futures to penetrate above the September series VWAP of 17,666 with Bank Nifty outperforming by a wide margin. A close above 17,775 in Nifty has re-activated bullish momentum after indices re-enter the weekly breakout zone with a potential upside of 19,867. The main trigger for an upside in Nifty in the coming days is...
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...