Pre Market Analysis – 5th Oct 2021
Markets rallied 1% on hopes of accommodative stance by RBI in upcoming credit policy but situation has suddenly turned grim after Brent crude prices rose from USD 78 a bbl to USD 81 a bbl in late afternoon. With Nifty already holding Bearish Dark Cloud Cover in the previous week, markets are at a risk of major meltdown and a move above 74.50 in USDINR could add fuel to fire during a...
Pre Market Analysis – 4th Oct 2021
Market for the week ended in deep red with Nifty declining by 2% and also forming bearish dark cloud cover on weekly candlestick pattern after bearish upside gap two crows on daily basis. This back to back bearish combination is an indication of extended correction in markets and we may see double digits decline in coming days after Nifty breaks support of 17400. So far, the weakest sector...
Pre Market Analysis – 1st Oct 2021
Nifty ended with losses of 0.5% led by weakness in Bank Nifty while broader markets remained firm due to outperformance in midcap and small cap stocks. FIIs in the last 3 trading session has sold more than Rs 20,000 crore in cash plus future segment and this has occurred after BNY India Depository Receipt Index breached critical support on Tuesday. We expect aggressive selling in markets on...
Pre Market Analysis – 30th Sept 2021
The benchmark indices ended lower for the second consecutive session on Wednesday amid volatility. Recovery in European markets and buying at lower levels helped the indices recoup losses. The Nifty once again took support near the 10-day SMA or 17,600 and reversed sharply. After yesterday’s sharp intraday fall, the index has formed a inside bar candle pattern which indicates...
Pre Market Analysis – 29th Sept 2021
Nifty confirmed major trend change after closing below 17802, which activated bearish setup of upside gap two crows on candlestick. This setup has coincided with major breakdown in India ADR Index which has opened potential downside of 20% in the Indian markets. Meanwhile, a move above 74 in USDINR is likely to see further selling in Indian bonds with USDINR positioned to hit 77.50 in the...
Pre Market Analysis – 28th Sept 2021
Nifty confirmed formation of upside gap two crows on Monday after prices opened higher but ended on flat note thus engulfing previous upmove. The upside gap two crows has major significance of trend reversal if occurred after extended rally and often confirms market top on follow up negative closing. With Natural Gas shooting by 30% in past 5 trading session and crash in Indian Govt bond...
Pre Market Analysis – 27th Sept 2021
The market for the week ended higher by 1.5% on contribution from the Nifty IT index while Bank Nifty struggled to cross 38000. With Brent crude at a 52-week high, it is well-positioned to hit USD 90 anytime soon and the first downward reaction can occur in financials and interest-rate sensitivity. For the coming week, we can expect volatility to continue as Indian markets have entered into...
Weekly Market Research by Fintoo – 26th Sept 2021
Bull-run continues; F&O expiry and auto sale numbers in focus: Markets continued its euphoric bull run with Sensex surging past the 60,000 mark for the first time ever. Positive global cues, diminishing concerns about a possible third wave of the coronavirus pandemic and report that FPIs stock holding value soars to USD 630 bn as of August 2021 also perked up the sentiments. Asian markets...
Pre Market Analysis – 24th Sept 2021
Markets rallied worldwide on optimism that the Chinese government will bailout Evergrande developers and U.S Fed’s positive economic outlook. Sharp upmove was seen in financials with Bank Nifty gaining by more than 2%. The Bank nifty has re-attempted a breakout after yesterday’s closing above 37700 and if we are unable to see follow up the rally, we may see another downturn. During bubble...