Market Morning Notes For 5th June 2024
Markets tumbled sharply on wide disappointment as BJP failed to cross the 250-mark leading to Nifty breaching key support of 22,540 and was followed with closing below 22,000 mark. In the next few days, markets are likely to go through high volatility with midcap and small cap indices expected to witness diversion of funds to safety especially to FMGC and Pharma sectors with Nifty expected to...
Market Morning Notes For 4th June 2024
Markets reacted positively to exit poll numbers leading to a gap up opening well above 23,000 mark and settled with gains of over 3% in Nifty 50 terms while Bank Nifty surged to 4%. After yesterday’s up move, Nifty has thrown a hanging man formation on candlestick which generally earmarks a reversal pattern, and markets are likely to see major decline if the actual numbers fall below the exit...
Market Morning Notes For 3rd June 2024
Markets for the week ended lower by almost 2% to form a dark cloud cover on the weekly candlestick chart as participants turned cautious ahead of exit polls and most mutual funds raising cash levels in their schemes. After the exit poll clearly stated one sided victory to BJP, markets are poised to open 4% higher towards 23,500. We expect major outperformance coming from Bank Nifty as Bank...
Market Morning Notes For 31st May 2024
Markets witnessed 1% cut on back of uncertainty ahead of the election outcome with risk of NDA not gaining complete majority created in a tremble in broader market but Nifty Bank managed to settle with gains of 0.4%. With Brent crude trading lower below USD 82 a bbl and weak Chinese PMI data, expectation of another stimulus from China is around the corner. For Nifty, large cap stocks are...
Market Morning Notes For 30th May 2024
Nifty ended with nearly 200 points cut and closed below its previous 2 session’s lows. Volatility is expected to persist in the coming days. India VIX continues to remain elevated at 2- year highs as markets await the outcome of the general election. Bank Nifty widely underperformed Nifty in its monthly derivative expiry session yesterday. Oil prices settled lower Wednesday, as...
Market Morning Notes For 29th May 2024
Nifty ended flat for the third consecutive day after a big blowout rally seen on Thursday in last week’s trade. Cautiousness is seen ahead of the general election outcome. Nifty has gained over 1200 points from this month’s low and is consolidating ahead of the big event outcome. The crucial trigger for markets is seen from Nifty Bank index, where Bank Bees is already showing signs of...
Market Morning Notes For 28th May 2024
Markets cooled from day’s high after surging nearly 150 points to finally end in marginal negative terrain to claw back below the 23,000 mark in the Nifty 50, while the Nifty Bank managed to post gains of 0.7%. The crucial trigger for markets is seen from Nifty Bank index, where Bank Bees is already showing signs of major breakout fan ascending triangle. The upside potential is seen at 10%...
Market Morning Notes For 27th May 2024
Markets for the week extended gains with Nifty posting weekly closing well above all time high despite India VIX rallying towards 22. At present, the Nifty is clearly in breakout mode from parallel channel with an immediate target expected in the range of 23,900. As we move closer to expiry, we expect major short covering to occur in 23,000 strike calls and may lead beta adjustment towards...
Market Morning Notes For 24th May 2024
Nifty unfolded a blowout rally in a weekly expiry session yesterday and the index gained close to 400 points after a flat opening. The Nifty broke out of the crucial levels of 22,600 and closed at fresh all-time highs. Bank Nifty outperformed Nifty with a 1000 pt gain breaking out of its probable range as well. We expect momentum to accelerate further for upside target of 23,500. Heavy...