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...
Market Morning Notes For 9th April 2024
Markets for the week began on a positive note with Nifty 50 gaining over 0.7% while Nifty Bank remained laggard as gains were mainly contributed from Reliance Industries and Auto sector. With India VIX trading below 11.6 mark, markets are on a verge of a major upmove which is most likely to be lead from Nifty Bank in the coming days. Only trigger which can derail the current momentum could...
Market Morning Notes For 8th April 2024
Markets last week remained range bound with Nifty ending higher by 0.5% while Bank Nifty outperformed with gains of around 3%. With weekly closing above 48000 in Bank Nifty, expect major short covering in coming days with immediate target seen at 51500. The ratio of Bank Nifty to Nifty 50 Index has seen major reversal after months of downtrend. This data indicate that Bank Nifty will amplify...
Market Morning Notes For 4th April 2024
Market activity remain lackluster for the third consecutive trading session to finally end with marginal losses in Nifty 50 index while broader markets remained firm. We expect the current consolidation to be followed with momentum up move in the coming days with major breakout expected above 22,550 with a potential target of 23,500. Nifty Futures Chart Stocks to watch Positive...
Market Morning Notes For 3rd April 2024
Market activity on Tuesday remained range bound with formation of back-to-back doji star on daily candlestick chart while India VIX continues to plunge on back of sustained activity of put writing in the system. A lower reading in India VIX below 12 should be seen as major signs of optimism as with institutions aligning their portfolio towards risk on trade. The weakening dollar to Fed rate...
Market Morning Notes For 2nd April 2024
Market scaled to a time high on Monday with major contribution from Nifty Bank and India VIX declining to 12% mark. Nifty Bank currently has moved into breakout zone with 4000 points rally expected in the coming week. The upside of Nifty Bank is seen at 54,000 and is most likely to outperform Nifty with wide margin. For Nifty, the ADX line has seen strong bottom and hence 22,000 from now on...
Market Morning Notes For 1st April 2024
Markets for the month of March settled higher by almost 2% on back of U.S Fed promising aggressive rate cuts in the near future which has also led to sharp surge in Gold and BTC prices. For the past three years, there was severe underperformance from Nifty Bank due to surging US bond yields, however from here on we can expect major relief rally from Nifty Bank after a recent breakout above...
Market Morning Notes For 28th March 2024
Markets witnessed concentrated action on Wednesday with Reliance Industries solely contributing to gains in Nifty while Nifty Bank turned laggard. In the current scenario, Nifty has been battling with breakout zone of 22,200 above which we may see acceleration of momentum towards 23,500. The ADX line also has been indicating an oversold terrain in the past few days and hints that the market...