Weekly Market Research by Fintoo – 8th Aug 2021
Indian market rallied 3% for the week after the U.S. Senate approved another infrastructure stimulus worth $1 trillion to support the US economy. At the time when rent moratorium was coming to an end, this package acted as a booster shot to global financial market. Although, Nifty has managed to close above 16,000 levels, the risk levels remains highly elevated due to rise in historical...
Pre Market Analysis – 5th Aug 2021
Markets witnessed divergent trade in broader indices with Nifty inching further higher to close above 16250 while midcap and small cap index formed bearish dark cloud cover on candlestick charts. A bearish dark cloud after an extended rally confirms major tops and with advance: decline turning negative to 1:2, the strength in Nifty may not last for long. The trading range for today’s trading...
Pre Market Analysis – 4th Aug 2021
Market witnessed breakout of trading range of 15620-15900 on Monday after large cap stocks came back into action to lift Nifty above 16100 and Bank Nifty above 35200 levels. With yesterday’s up move, the Dollex 30 i.e. Sensex in USD terms has managed to cross above Feb 2021 highs and from here on, 16070 in Nifty will act as an important reversal on closing basis. The sharp surge in India VIX...
Pre Market Analysis – 3rd Aug 2021
Indian market rallied on Monday amidst positive global cues with Non-financial stocks including midcap and small index outperforming the broader markets while Bank Nifty failed to cross resistance of 34900. The Nifty is currently placed at critical juncture with 15,950 acting as a stiff resistance which has been prevailing since last 50 calendar days. The main risk for Indian markets now also...
Pre Market Analysis – 2nd Aug 2021
The Nifty for the month of July remained range bound with trading activity restricted in a narrow range of 15,630-15,960 and formed Doji star on monthly candlestick chart. A Doji star pattern is a sign of indecisiveness and often a signal of market tops after an extended uptrend. With FIIs turning net sellers in cash market on continuous basis and DIIs accumulating 58% of short positions in...
Weekly Market Research by Fintoo – 31st July 2021
Market end volatile week lower; Outlook remains cautious Nifty for the week remained highly volatile and rebounded after moving below short term moving average of 50 DMA and finally closed with losses of less than 0.59% to 15,763 levels. The FIIs have turned aggressive sellers for the month of July by selling more Rs 25,000 crore in the cash market which remains a major cause of worry for...
Pre Market Analysis – 30th Jul 2021
Nifty managed to post gains of less than 0.5% to close above 15760 on Thursday after the Metal sector rose by more than 4% while Bank Nifty under performed. The Nifty has been hovering in a narrow band in the past few days and selling pressure is likely to resume on a move below 15760 in the opening hours. Meanwhile, GBPINR has activated major breakout above 103.5 which may have negative...
Pre Market Analysis – 29th Jul 2021
Markets witnessed late recovery on Wednesday despite FII selling more than Rs 2000 crore in the cash market while the recovery was mainly led by Non-Financial segment to help Nifty close above 15700. If we see price action in Nifty since last 45 days, Nifty has not been able to close below 15620, which has acted as a lower range of trading band of 15620-15900. However, the short-term...
Pre Market Analysis – 28th Jul 2021
Markets decline on Tuesday was mainly led by Non-financial sector with Pharma taking a lead role in decline while Bank Nifty restricted its losses to less than 0.5%. The Nifty managed to break its key support of 15760, thus breaking support line of rising wedge and markets are positioned to hit 15100 in the next few days. The down fall trigger for Nifty may come from breakdown in Nifty...