Pre Market Analysis – 22nd Sep 2021
Markets bounced back sharply on Tuesday after technology stocks helped Nifty to defend crucial support of 17214 and closed above 17550. The breadth of the market remained negative with Bank Nifty underperforming the Nifty Index while USDINR turned flat as Chinese market were shut due to holiday. Today, the U.S Fed policy will be in focus as o the timing of tapering of bond purchases. For the...
Pre Market Analysis – 21st Sep 2021
Markets yesterday succumbed to selling pressure at the late hours of trade to close at day’s low with Bank Nifty and Metal sector acting as major draggers. Global stock markets were caught in the grip of contagion fears sparked by troubles at China Evergrande which prompted investors to flee riskier assets. If the Chinese Yuan begins its depreciation, the carnage will spill over to the Rupee...
Pre Market Analysis – 20th Sep 2021
Markets on Friday confirmed major trend reversal after prices formed ‘Dark Cloud cover’ on candlestick with selling mainly from non-financial stocks. The non-financial segment has been main the contributor for uptrend in Indian markets since past few months and reversal here would open wider cracks for the entire market. Meanwhile, the Nifty IT index last week completed 10 weeks of...
Weekly Market Research by Fintoo – 19th Sept 2021
Bulls back in charge; U.S Fed meeting to dictate trend this week Bulls once again were seen active during last week with Nifty surpassed 17700 levels while Bank Nifty clinched above 38000 levels in intraday trades. However, traders booked profits at higher levels ahead of the weekend as both the indices gave up some gains in Friday’s session. The Government announced a slew of...
Pre Market Analysis – 17th Sep 2021
Market got second booster shot on Thursday after FM Nirmala Sitharaman laied out plan for bad bank, which helped Nifty Bank to surge towards February highs of 37708. The Nifty Bank still remains at critical positions as ratio of Nifty Bank to Nifty which has resulted in the breakdown in past few days may swing 12% up or down in days to come. A breakdown in NYSE Composite on closing basis also...
Pre Market Analysis – 15th Sep 2021
Markets remained in a narrow range with Nifty facing resistance at 15500 while broader markets like midcaps and small caps managed to outperform the leading index. With NYSE Composite closing below 100 DMA, we can expect global markets to face sustained selling pressure, while Indian markets which are trading at euphoric highs may see mean reversion when support of 17214 in Nifty is taken out...
Pre Market Analysis – 14th Sep 2021
Markets recouped its opening losses on Monday after gains from IT & Metals stocks while Bank Nifty ended lower by 0.6% and Nifty ended above 17350. After yesterday up move, both Brent crude and Natural Gas prices have activated short term breakout, thus opening scope for 10-15% upside in near term. We can expect financials to underperform due to such breakout while Nifty may turn see wild...
Pre Market Analysis – 13th Sep 2021
Markets for the week remained range bound with 17500 acting as a resistance while Bank Nifty continues to remain underperformer. Most of uptrend in Nifty 50 in the past 6 months has been contributed by Non-Banking stocks with Bank Nifty still 3% away from Feb 21 highs. There has been strong negative correlation in Bank Nifty and USDINR and we can expect deeper cracks in Bank Nifty as and when...
Weekly Market Research by Fintoo – 12th Sept 2021
#uid-72262bc63fc2344d .heading h2 { line-height: 1.6em; font-weight: 400; } Markets flattens at the top in absence of fresh cues Nifty indices once again scaled to record highs in the week gone by as the rally got supported by mid cap and energy counter. Nifty surpassed 17,400 levels during the week but however could not manage to close above that and ended on a flat note....