Market Morning Notes For 3rd August 2022
Markets exhibited a show of strength on Tuesday with the Nifty rebounding from lows after gap opening and ending with marginal gains. The close above 17250 has shifted the Nifty into a new trading range of 17250-18612 and we expect short covering to take the Nifty 50 Index to Oct 21 highs. Important to note is that the bulls in some of the broader indices like the Nifty 50 Equal weighted...
Market Morning Notes For 2nd August 2022
Markets for the month of Aug began on a positive note with key indices closing higher by 1% with FIIs infusing more than Rs 5000 crore in cash + future segment to force Nifty to close above 17250. A move above 17250 is seen as a booster dose for bulls as call writers are expected to do a major short covering despite any lower opening. A breakout in the Nifty 50 equal-weighted index on a...
Market Morning Notes For 1st August 2022
Markets for the month of July posted a smart recovery with Nifty gaining 9% while Bank Nifty settled higher more than 12% despite USDINR testing the 80 mark. The main trigger for recovery in Indian markets has been on the back of FII resisting aggressive cash-based selling and on the other side turning net buyers in Index futures. The Nifty 50 Equal Weighted Index has activated a major...
Weekly Market Report 25th to 29th July
A nifty break above the trading range, upside seen at 17,500-17,800 After three months of consecutive decline, equity markets rallied sharply in July’22. Nifty and Sensex gained about 9% each while the Midcap index gained 12%. Sentiments turned positive on hopes the U.S. Fed will slow down its pace of interest rate hikes at its upcoming meetings. However, the unexpected...
Market Morning Notes For 29th July 2022
Markets opened with a gap up on Thursday and extended gains to close at the highest point on expiry with Sensex posting gains of +1000 pts with support from broader markets. The Wave (3) impulse breakout is in an activated mode which has the potential to take Nifty towards 18982 in a quick span of time on the back of short covering. The breakout in BSE Bankex in Euro terms would ensure...
Market Morning Notes For 28th July 2022
Markets rallied across the globe on Wednesday after US Fed hints at a slower pace of rate hikes in near future after hiking 75 bps key rates yesterday. Indian markets had anticipated such a move and rallied 1% across the board with the Nifty regaining its control above 16527 which turned out to be 200 DMA. Currently, Indian markets are on a verge of a major breakout with the expectation...
Rising Inflation And Its Impact On Stock Markets
In a recent survey done by market research agency, Ipsos, across 27 countries, named – “What Worries the World” – Inflation, has topped the list beating poverty, unemployment, crime, and covid. With most commodity prices seeing anywhere between 50% to 100% increase in their prices over a period of 2 years i.e 2020 to 2022, inflation has troubled everybody – from governments to...
Market Morning Notes For 27th July 2022
Markets traded cautiously on Tuesday ahead of the U.S Fed policy meet on Wednesday evening with the Nifty partly parring the previous week gains to close below 16500. However, with the formation of the ‘Bullish hold line’ pattern in the previous week candlestick chart, we can expect weekly closing to turn flat or in the green as observed in most cases. This along with the flag breakout in...
Market Morning Notes For 26th July 2022
Markets remained highly volatile yesterday after disappointing earnings from Reliance Industries. Markets are expected to start on a sober note today after yesterday’s weakness. However, Bank Nifty has confirmed a ‘flag’ breakout with an immediate target of 43,300 which may trigger bullishness in days to come. The BSE Bankex in Euro terms has also seen a similar breakout which indicates that...