Market Morning Notes For 25th April 2024
Markets ended slightly higher on Wednesday. The Nifty index is currently experiencing some resistance between the levels of 22,400 and 22,500. However, it has been able to stay above the lower end of this range. Indian stocks will start the day with a neutral to slightly negative tone, but there may be some volatility due to the expiry of the April series. US Futures trading lower after US...
Market Morning Notes For 24th April 2024
Markets ended with marginal gains on Tuesday with India VIX tanking by 20% towards 10 levels while broader markets outperformed key indices. Sharp drop in India VIX points out towards large of put writing which should be key catalyst for Nifty journey towards 23500. The bank Nifty also has been approaching towards breakout levels of “Ascending triangle” where breakout is mere 0.6% away and...
Market Morning Notes For 23rd April 2024
Markets rebounded with vengeance with Nifty gaining around 1 pct to cement its position above 22300. The corrective phase for market may be over for now and we expect next leg of rally towards 23500. We expect banks to remain outperformers. The US futures remained steady after the market ended on a positive note on Monday. Asian markets are showing a mix of optimism and caution due to the...
Market Morning Notes For 19th April 2024
Markets witnessed sharp decline in last hour of trade to wipe out earlier gains and ended in losses of 0.8% forcing Nifty to surrender below 22,000. The reaction was mainly on back of rising tension between Iran-Israel with Israel expected to escalate war in near future. Tensions are at an all-time high. Iran had warned earlier that that if Israel goes ahead with a retaliation for last week’s...
Market Morning Notes For 18th April 2024
The Nifty ended 0.56 pct down at 22147.90 in the previous session, however the broader market remained somewhat resilient. It opened on a weaker note followed by choppy moves towards ending in red. The Nifty could take support around 22,000 levels. Further, bullish momentum likely to continue as long as pivotal support placed around Nifty 22000 remains intact. Immediate resistance is placed...
Market Morning Notes For 16th April 2024
The Indian equity indices extended losses for the second consecutive session on yesterday on wide-spread selling, as Israel and Iran tensions escalated with Nifty breaching support of 22,300. With a dent below 22,300, we expect selling pressure to force Nifty towards 22,050 but a larger trend till 23,500 remains intact. We would suggest buy on dip at around 22,100. US stocks closed in the...
Market Morning Notes For 15th April 2024
Markets for the week ended with marginal gains to form shooting star pattern on candlestick signifying a reversal after war erupted between Israel and Iran. However, with India VIX trading below 12, for Nifty this move is more likely to be considered as pullback and is unlikely to go below 22,350. The overall outlook remains positive with a buy on dip with target placed at 23,500. The...
Market Morning Notes For 12th April 2024
Markets managed to end higher on Wednesday with Nifty Bank moving closer to 49,000 while Nifty posted gains of 0.5% despite being jittery at higher levels. At present, major catalyst for upside momentum is based on strength of Nifty Bank with the index cementing its position above 48,300. The upside potential in Nifty Bank is seen at 54,000 which may force Nifty to test 23,500 in the near...
Market Morning Notes For 10th April 2024
Markets formed a bearish counterattack line pattern on candlestick after prices cooled off at the days to end in marginal losses yesterday, but Nifty Bank continued to exhibit strength with closing above 48,636 which turned out to be earlier all-time high. At the current juncture, we expect Nifty 50 to take back seat for some time while momentum is likely to be shifted towards Nifty Bank...