Market Morning Noted For 13th December 2022
Markets ended unchanged on Monday after the initial gap-down opening while broader markets outperformed key indices. Overall global markets have turned cautious ahead of the U.S. Fed meeting on Wednesday with the expectation of a 50 bps rate hike. For Nifty 50, the ideal strategy would remain to buy on a decline with stop-loss placed at 18100 and Target placed at 19867. The key trigger to...
Market Morning Notes For 9th December 2022
Market activity remained range bound with the Nifty 50 Index regaining above the key support of 18580 on the back of gains from Bank Nifty. The lower crude prices are providing a necessary cushion for Indian markets to stay afloat at higher levels however sudden drop in non-institutional volumes from Rs 35000 cr to Rs 26000cr is a sign of concern that the liquidity is waning out. For,...
Market Morning Notes For 8th December 2022
The market witnessed selling pressure on Wednesday with Nifty 50 breaching short-term support of 18580 due to weakness in the technology sector but Bank Nifty outperformed. The dull trading activity is a sign of major accumulation unless prices breach 18100 on the lower side. For the moment, the strategy remains to buy on a decline with the ideal bottom expected around 18350 and a...
Market Morning Notes For 7th December 2022
Markets remained under pressure due to a surge in USDINR above 82.5 forcing Nifty 50 to end lower by 0.3% around 18650. The announcement of the cap of USD 60 a bbl on Russia Oil has forced Brent Oil to move below USD 80 a bbl which may have provided some temporary relief to the Indian markets. The short-term bottom in Brent oil is likely to extend towards USD 74, before we may see a major...
Market Morning Notes For 5th December 2022
Markets for the week gained 1% and managed to post weekly closing above the key resistance of 18580 despite selling pressure on Friday. The breakout above 18580 has negated important algo selling which can help Nifty 50 to scale towards 19867. In the immediate terms, we expect India VIX to decline towards 9%, and then Nifty 50 may resume its upward journey. In the short term, any decline...
Market Morning Notes For 2nd December 2022
Markets trimmed its opening gains to settle higher by 0.3% on Thursday’s trading session led by selling in banking stocks at higher levels. With Nifty 50 sustaining above 18580, the momentum remains highly positive for a potential target of 19987. However, from a positional perspective rising crude prices and rising JPYINR pose a major threat of a major reversal for Indian markets. Hence...
Market Morning Notes For 1st December 2022
Markets rallied on Wednesday after price breakout confirmation above 18580 and were also supported by volume breakout with total turnover crossing 100000 crores. The Fed commentary turned dovish about the further pace of rate hikes thus impacting global markets positively. This can provide a further push for Indian markets, and we can expect the upside potential for Nifty 50 to extend towards...
Market Morning Notes For 30th November 2022
Markets witnessed narrow trading activity on Tuesday with Nifty 50 closing above the key hurdle of 18580 but broader markets remained on the weak side with midcap and small-cap indices closing in the negative terrain. The lower India VIX reading and Nifty 50 closing above 18580 could see further buying in the next few days from non-Financial to force a further 6% up move in the coming days....
Market Morning Notes 28th November 2022
Markets for the week ended 1% higher mainly on the back of sharp gains in the technology sector thus helping Nifty 50 to close exactly at the 18513 mark with India VIX closing at a 52-week low. The lower reading ideally should act as a catalyst for a major breakout towards 19800 in Nifty 50 but with Bank Nifty testing the resistance of the “Rising wedge”, it becomes necessary for prices to...