Pre Market Analysis – 2nd Nov 2021
Markets rebounded on Monday on back of positive sentiment amidst festival cheers with Nifty attempting to test crucial resistance of 18034 which it violated last week. The volume on Monday remained lower due to muted activity from FII but with BNY India ADR Index trading a mere 1.5% away from major breakdown, one needs to remain ultra-cautious despite optimism by domestic players. The Brent...
Pre Market Analysis – 1st Nov 2021
Markets for the week traded cautioys with Nifty declining by 2.5% mainly on back of aggressive selling by FIIs. The FIIs have been sellers worth Rs 46,000 crore in cash and future segment for the month of October. With Nifty violating 18,034 on closing basis and montly setup turning into bearish gravestone doji, Nifty has activated major downtrend and we can easily expect Nifty to slide...
Pre Market Analysis – 29th Oct 2021
Markets witnessed sharp sell off on Thursday after domestic buying failed to offset FII selling and Nifty failed to cross important resistance of 18377. The weekly bearish dark cloud cover in Nifty 500 index has finally taken toll on markets with Nifty surrendering & closing convincingly below 18034. With Bank Nifty plunging around 3.5%, the last pillar of strength has collapsed and we...
Pre Market Analysis – 28th Oct 2021
Nifty gave up gains in the later half of the trading session. Stock specific action continued with results result in full swing. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. With Nifty Midcap 100 index already breaching...
Pre Market Analysis – 26th Oct 2021
Markets turned volatile on Monday with broader indices likes midcap and small cap index continued to plunge lower with losses of more than 2% while Nifty ended on a flat note mainly on back of rebound in Bank Nifty. With Nifty breaching Friday’s low of 18034, selling intensified across the board with advance decline ratio standing at 3:17 by the closing. With lower low after weekly bearish...
Pre Market Analysis – 22nd Oct 2021
Nifty has ended below its previous day low for the 3rd straight day, but a 180 point rally in the last hour of trade, suggests that the relief rally could continue on the index in today’s trading session. The Bank Nifty was a clear outperformer in yesterday’s session, it not only made a fresh all time high by rallying nearly 1.5% in the last hour of trade, but also posted the highest ever...
Pre Market Analysis – 18th Oct 2021
Market last week gained by 2.5% despite USDINR hitting 1-yr high and Brent crude crossing 7-yr high on back of easy liquidity measures by central banks. After Friday’s up move, the Sensex in USD terms has re-tested its September highs and markets are likely to face resistance around 18,500-18,600 in the coming week. With Brent crude positioned for hitting USD 110 a bbl and USDINR about 80, we...
Pre Market Analysis – 14th Oct 2021
Markets rallied on Wednesday on the back of gains from Auto stocks with the Nifty settling well above 18100 but Bank Nifty struggled at higher levels. After yesterday up move, the Dollex 30 i.e. Sensex in USD terms has moved higher but remains 1.7% lower from Sep highs. Indian markets still remain vulnerable to major correction as USDINR still remains in the breakout zone for a potential...
Pre Market Analysis – 13th Oct 2021
Market extended gains on Tuesday with Nifty ending higher by 0.3% but in USD terms remained more or less neutral. The Nifty in USD terms has been trading sideways since mid of September and has formed Head & Shoulder top and a short term breakdown is placed 1.6% lower. Today, all eyes will be on Fed Minutes which will set the tone for tapering adjustment and strength of dollar...