Market Morning Notes For 20th June 2022
Markets declined over 5% last week after U.S. Fed hiked key rates by 75 bps and hinted 50 bps rate hike in the month of July. The main draggers for markets were metals and technology sectors which have convincingly broken March 2022 lows while Bank Nifty was still able to sustain above March 2022 lows. With the prevalence of RSI positive divergence for both Nifty and Bank Nifty, markets...
Market Morning Notes For 17th June 2022
The market ended sharply lower with key indices losing over 2% on the back of a 75 bps rate hike by Fed. In initial hours, the Nifty opened higher around 15849 but due to pressure from metals and technology stocks selling was spread across the counter with the Metal index down more than 5% while the technology index fell more than 3%. After yesterday’s decline, Nifty has breached March...
Opportunities In Debt Market
Given the current economic sentiments, with rising inflation and recessionary pressure faced by developed economies, India has been affected as well. The recent repo rate hikes by the RBI are a further measure taken by the GOI to curb inflation. However, as the repo rates are increased, there are still opportunities available in the markets aplenty. One such opportunity lies in the Debt...
Oil prices are at a 13-week high, What next?
Oil prices are back with a vengeance after a brief drop below USD 100 a barrel and are now currently above USD 120 a barrel. In fact, oil prices have jumped to a 13-week high as demand from the U.S. is rising while expectations that China’s oil demand will increase amidst growing supply concerns in several countries, including Iran. However, there is a growing expectation...
Market Morning Notes For 16th June 2022
The market surrendered opening gains to finally end in negative terrain but the breadth of the market remained positive. Nifty Bank also closed in the green. With Fed raising rates by 75 bps to curb 40-yr high inflation, this is expected to have a major impact on technology and commodity sectors, which may go through a deep underperformance. So far as markets are concerned, it had...
Market Morning Notes For 15th June 2022
The market ended with marginal losses after initial attempts to surpass resistance of 15849 to finally close below 15750. With the Fed meeting lined up today evening and the expectation of a 50 bps hike, most of the global market has been under pressure for the past few weeks. As Dollex 30 index, which is Sensex in USD terms, has thrown up positive divergence in RSI, we can expect a...
Market Morning Notes For 14th June 2022
The market opened with a gap down Monday amidst panic selling in global equities and major unwinding in crypto markets, which forced the Nifty to end lower by more than 2.5% near 15700. The major damage to Indian markets occurred via technology and metals stocks, which witnessed the brunt of central bank monetary tightening. In the context of Indian markets, key indices namely the...
Market Morning Notes 13th June 2022
The market ended lower for the week amidst turmoil in global equity markets as central banks resorted to liquidity tightening amidst sky-rocketing inflation and higher commodity prices. Nifty declined by 2.5% while broader markets outperformed as weekly closing in Nifty was well above crucial support of 16123. The current week would also be challenging for Nifty as a larger setup...
Market Morning Notes For 10th June 2022
Markets rallied on Thursday to end with gains of 0.8% but the Nifty 50 Index outperformed broader indices like the Nifty 500 with a wide margin to close near 16500. Although Nifty IT rallied around 1% yesterday but sectors that are vulnerable to major downtrend are Metals and Technology and hence any up move in them may remain short-lived. With rising inflation concerns, the...