Market Morning Notes For 6th September 2022
Markets ended higher on Monday on the back of broad-based buying with Bank Nifty surpassing its August highs of 39,759 and activating a major breakout. The breakout in Bank Nifty may act as a catalyst for Nifty crossing its all-time high in the current week with major short covering expected in the Nifty 50 Index above 17,777. On an immediate basis, the Target for Bank Nifty is placed at...
Market Morning Notes For 5th September 2022
Markets ended on a flat note for the week despite jitters in the global market with Sensex forming the ‘Bullish Piercing line’ on a weekly basis while SGX Nifty futures put up a ‘Rising three methods’ setup on a daily scale. With broader indices like BSE 100 posting weekly closing above the weekly breakout line, we expect next week’s up move to turn more broad-based with Nifty 50...
Market Morning Notes For 2nd September 2022
Markets remained under pressure on Thursday on the back of weak global cues with the Nifty settling lower by more than 1% while broader markets and Bank Nifty outperformed by a wide margin. Thursday’s closing was well above the September series VWAP of 17524 which is a positive sign for markets and with sharp fall in Brent crude prices below USD 94 a bbl may provide a necessary booster...
Market Morning Notes For 1st September 2022
Markets for the month of August ended positive after a sharp up move on Tuesday that shook most of the market participants as Nifty surged by around 500 points and Bank Nifty jumped 1300 points on the back of Rs 4000 crore buying by FIIs in the cash market. This up move has led to a major breakout on the ‘Monthly Chart’ for broader indices like Nifty 100 and BSE 100 index and is expected...
Market Morning Notes For 30th August 2022
Markets began on a negative note on Monday following weak global cues and the Nifty tested monthly support around 17158 and then closed above 17300 levels. A major weakness was seen in technology stocks with Nifty IT tanking by more than 3% while broader markets outperformed with Midcap and Small cap index ending with losses of less than 1%. For Nifty, this may be the last reaction of...
Pre Market Analysis – 16th Dec 2021
Markets violated the key support on Wednesday after Nifty closed below 17312 while USDINR cleared its psychological barrier of 76. The close below 17312 has also reactivated breakdown in Nifty Non IT Index which holds 82% weight within Nifty and projects downside potential of 28% in near term. With JPYINR clearly sustaining above 66.70, we expect any rebound in equity markets to remain...
Pre Market Analysis – 15th Dec 2021
Markets remained under pressure on Tuesday with Nifty regaining above key the support of 17312 after initial gap down opening. With USDINR crossing above 76 in international market, the selling in equity market is likely to accelerate further. Expect major breakdown and spike in volatility if Nifty closes below 17312 for a potential target of 16% lower. Stocks in news ITC management...
Pre Market Analysis – 14th Dec 2021
Markets succumbed to selling pressure on Monday after Nifty in USD terms failed to cross the previous week high and was followed with losses of around 1%. As Nifty 50 has also been trading below 50 DMA for 17 trading sessions, such lower high formation in Nifty in USD terms should be seen as ‘Double Top ‘ formation and should be followed with a downside of at least 16% in the coming days....
Pre Market Analysis – 13th Dec 2021
Markets last week ended higher with 2% with broader markets outperforming leading indices but rupee remained under pressure. On the long term chart, Nifty has violated the long term support line and has closed below the same for 3rd consecutive week. The weekly support line henceforth will turn into resistance and Nifty for the week is likely to exert pressure around 17650-17850 in near...