Market Morning Notes For 13th November 2024
Markets succumbed to selling pressure on Tuesday with Nifty violating key support of 23,890 on closing basis thus opened the gates for a major downside of beyond 15% in the near term. The selling in the last hour of trade clearly indicates lack of appetite for domestic funds to hold markets at higher levels and it may trigger ripple effects as retail investors are forced to cut down their...
Market Morning Notes For 12th November 2024
Markets witnessed wild volatility in range of 1% yesterday with Nifty ending on a flat note but selling continue to persist in broader markets especially in the consumption space indicating upcoming slowdown in the economy. In the past few days, stocks considered as safe heaven especially from Nifty low volatility index has seen sharp selling which is a major cause of concern and is...
Market Morning Notes For 11th November 2024
Markets failed to recover beyond 24,500 in the previous week and follow-up selling forced Nifty to end below the crucial support of 24,232 after Trump victory in the previous week. Indian markets are prone to sharp volatility below 24,232 with a potential target seen at 22,500. With weakness visible in consumption sector, we expect correction to turn broad based and financial stocks may...
Market Morning Notes For 8th November 2024
Markets erased Wednesday’s gains after Nifty dropped sharply by 1% after concerns emerged that Trump may resort to Tariff regime and limit H1B Visas for immigrants. The sharp wild swings in Nifty in the past few days is clear signs of instability in the markets and the next decline could be towards 22,000. The next few days 23890 remains very crucial support, below which aggressive short...
Market Morning Notes For 7th November 2024
The rebound in global markets extended on Wednesday helping Nifty to end higher by more than a percent mainly on back of 4% surge in the Nifty IT Index. The Trump victory in US presidential election had a booster impact for US markets but may have a negative impact in Indian market as he emphasized on policy on illegal immigrants and limiting H1B visa that may impact Indian IT companies...
Market Morning Notes For 6th November 2024
Markets on Tuesday witnessed sharp turnaround with Nifty rebounding from lows of 23,850 and ended higher by 1% on back of surge in Bank Nifty. In the past few days, Nifty has been unable to cross above the 200-exponential moving average on consistent basis and these could be signs of change of polarity. Change of Polarity occurs when earlier support turns in resistance and thus, we expect...
Market Morning Notes For 5th November 2024
Markets witnessed sharp decline on Monday with Nifty falling over 2% but managed to recoup some losses due to recovery in Bank Nifty but finally tally in Nifty was below 24,000. The breach of 24,232 last week on daily closing basis, had already signalled alarm bells for caution so Monday’s down move was not at all surprising. We can expect the selling pressure to accelerate further and may...
Market Morning Notes For 4th November 2024
Markets in month of October witnessed confirmed major long-term reversal after Nity declined more than 6% making it the single largest monthly decline after Covid phase in the year 2020 forcing Nifty to convincingly close below 24,500. On candlestick basis, a bearish belt hold line pattern was observed, and this would indicate November month could see further round of selling. Some of the...
Market Morning Notes For 30th October 2024
Markets turned highly volatile on Tuesday witnessing wild swings from early losses to finally end in the positive terrain on the back of gains in Bank Nifty. The 100 EMA has turned a formidable resistance for Nifty with prices unable to cross above Mondays high which is clearly a sign of bearishness. As the previous week closing was well below 24232, the weekly rebound is unlikely to sustain...