Market Morning Notes For 21st Sept 2023
Markets remained under pressure on Wednesday after the occurrence of the breakaway gap in Nifty where it opened and sustained below key support of 20,032. The decline was mainly led by selling in Bank Nifty while broader markets remained resilient ahead of the Fed meeting outcome. The Fed kept rates unchanged but commentary turned hawkish signalling scope for another 25-bps rate hike in the...
Market Morning Notes For 20th Sept 2023
Market activity on Monday remained muted with Sensex closing below the important support of 67,619 on the back of USIDNR hitting an all-time high above 83.2325. The occurrence of a rising wedge on the weekly chart poses a threat of a major reversal and a weekly close below 20,032 in Nifty should provide the necessary confirmation of a reversal. The key event which may spur volatility in...
Market Morning Notes For 18th Sept 2023
Markets for the week extended gains for the third straight week with Sensex closing at all-time high on Friday ahead of crucial U.S Federal Reserve meet on expectations that the Fed would pause further rate hikes. The Nifty after the recent move has tested the weekly resistance line extended from intermediate peaks hence would be interesting to see whether the Nifty is able to cross hurdle...
Market Morning Notes -15th Sept 2023
Markets ended with marginal gains, but Sensex failed to close above the crucial resistance of 67619 ahead of ECB meet yesterday. The India VIX retreated from 12 to 11.5on expectation of Chinese stimulus while Brent Crude has now crossed above USD 94 a bbl and should be positioned to test USD 107 a bbl by the next week on basis of long-term breakout. The formation of bearish engulfing...
Market Morning Notes For 14th Sept 2023
Markets activity remained tilted towards large cap with Sensex moving closer to its all-time peak despite India VIX posting gains. After yesterday’s up move India VIX has moved closer to breakout and a move above 12 should be seen as a major sign of strong Put option accumulation in markets and an initial leg of unwinding may be faced by high beta counters especially midcaps and small caps....
Market Morning Notes For 13th Sept 2023
Markets cooled from day’s high to end on a flat note after broader markets corrected sharply with Midcap and Smallcap Index declining over 3% and India VIX surging above the 11.5 mark. Brent crude too has crossed USD 92 a bbl mark and should be positioned to test USD 107 a bbl in the coming week after the recent breakout. The Nifty 500 Index has confirmed major reversal with formation of...
Weekly Market Wrap From 4th Sept to 8th Sept 2023
Nifty extends rally; Will Nifty Sustain the 20k mark? Benchmark indices gained for the second week in a row and the Nifty settled above the key levels of 19,800 on the back of strong economic data. Markets have reacted positively to various announcements at the G-20 Summit. Globally, markets witnessed a volatile session with the biggest drag from Apple and a sell-off in chip stocks over...
Market Morning Notes For 12th Sept 2023
Markets scaled to new highs on the back of retail buying with Nifty 50 hitting an all-time high while Sensex 30 is still away by 0.7% and India VIX surged by 5%. The markets have entered into a crucial juncture from where reversal would have serious implications, and this can be gauged from the formation of the rising wedge in ‘Next Notes Nifty 2x Leverage ETF’ which is widely traded in the...
Market Morning Notes For 8th Sept 2023
Markets inched further higher on Thursday to cross above 19,700 on the back of a sharp surge in Bank Nifty while key concerns like rising USDINR and Brent Crude prices continue. The broader market index namely the Dollex 100 index which is basically the BSE 100 Index in USD terms has formed a bearish pennant where Wave C within Wave 2 is coming to an end and a negative closing of 0.65% or 125...