Market Morning Notes For 28th June 2023
Markets surged on the back of gains from HDFC group stocks as Nifty 50 regain its control above 18,800 with FII suddenly turning net buyers to the tune of Rs 6000 crores (Spot + Future). The next rally in Nifty towards 19,700 is likely to be concentrated from top market cap stocks within Sensex. The price data of the top 9 stocks in Sensex shows rectangle consolidation which began from 1st...
Market Morning Notes For 27th June 2023
Markets ended with a marginal gain after trading in a narrow range on Monday and formed a small doji star on a candlestick. There is strong support seen in Sensex at 62802 which turned out to be low on 20th June 2023 and if this support is held on even in today’s trading session, we expect weekly closing to occur with gains of 2-3% over the previous week. In Nifty 50 spot terms, the...
Market Morning Notes For 26th June 2023
Markets activity last week remained range bound with final closing occurring with losses of less than 1% as Nifty failed to cross its all-time high. The weakness was seen mainly on the back of selling in financials and rout from Adani Group stocks which fell after the U.S. SEC began an inquiry into its financial statements. The larger picture for Nifty points out to an ultimate target of...
Market Morning Notes For 22nd June 2023
Markets extended gains on Tuesday to cross the 18850 mark in Nifty while the broader market remained laggard ahead of PM Modi’s U.S. visit. For Nifty, the breakout was activated in Nifty Top 9 stocks index which may help Nifty to surge 700-800 points in the near term while broader market may see further underperformance. We expect major short covering to occur above 18900 for immediate target...
Market Morning Notes For 21st June 2023
Nifty rebounded sharply from support zone of 18,669 to finally ending in the positive terrain and negated the short-term downtrend. The rebound occurred mainly from strength emerging from Nifty Top 9 stocks which has seen signs of major accumulation and is on a verge of ending diagonal breakout. The Nifty Top 9 stocks currently carry weightage of 49% and should act as a key catalyst for...
Market Morning Notes For 20th June 2023
Markets ended lower after Nifty failed to sustain above 18,900 and led to the formation of dark cloud cover on a daily candlestick chart. The short-term breakout in Nifty is seen above 18,669 and as long it holds above the same, there is a strong possibility of the current rally extending towards 19,200. On the global front, Fed Chair Jerome Powell will give his semi-annual report to...
Market Morning Notes For 19th June 2023
Markets for the week surged 1.5% to post weekly closing at lifetime highs after the U.S Fed paused rate hike and domestic inflation cooled down. The sustenance of India VIX below 11% mark has provided necessary cushion for Nifty to aim at 19194 and Prime Minister U.S. visit on 22 June may further boost up investment sentiment for India. For Nifty, immediate support is seen at 18741 in...
Market Morning Notes For 16th June 2023
Markets remained cautious post the Fed hawkish stance and the Nifty ended on a negative note with the Nifty Bank underperforming. The Nifty has failed to clear its recent high of 18777 and formed a small doji star on candlestick signifying indecisiveness. For Nifty, we can expect current rally to extend towards 19194 before we see major profit booking. Dow finished 430 points higher...
Market Morning Notes For 15th June 2023
Markets extended gains on Wednesday but failed to clear recent high of 18777 and formed a small doji star on candlestick signifying indecisiveness. The US Fed kept rates unchanged which has provided some short-term relief for the global markets but hawkish stance in commentary may limit significant upside for markets in the short-term. For Nifty, we can expect current rally to extend towards...