Market Morning Notes For 4th September 2024
Markets oscillated in a narrow range to finally close unchanged, while broader markets remained buoyant as Nifty firmly traded above 25000 mark. From a momentum perspective, there is clearly a 3rd degree negative divergence seen in RSI, which has potential to trigger sharp decline without warning from broader markets. The levels of 24965 should be seen as a crucial support in the next few...
Market Morning Notes For 3rd September 2024
Market activity remained laggard with midcap and small cap indices end in losses while Nifty cooled off from day’s high to close above 25,300. For Nifty, 23,965 remains a key support below which, aggressive shorting is expected to be activated. In the last two months, FIIs have added more than Rs 250000 crore worth options indicating that they already are positioned for a volatility...
Market Morning Notes For 2nd September 2024
Markets for the week scaled all-time highs led by gains from defensives like IT, Pharma and FMCG helping Nifty to close convincingly above the 25,000 mark. However, Nifty Financial Services Index continues to trade significantly lower than all-time high leading to a major divergent trend against Nifty 50 Index. History suggests before a meaningful decline, financial index often go through a...
Market Morning Notes For 30th August 2024
Markets witnessed divergent trend on Thursday, with Nifty ending with modest gains and trading at an all-time high while midcap and small cap indices end lower. The Bank Nifty still remains distant from all time high as recent gains in Nifty is mainly contributed by defensives like IT, Pharma and FMCG. There has been strong case of a third-degree negative divergence in RSI of Nifty 50 Index...
Market Morning Notes For 29th August 2024
Markets activity remained restricted in a narrow range with Nifty ending above 25,000 on back of positive global cues after scaling to new all-time high. Bank Nifty has been showing underperformance and often provides early divergence before reversal or a major change. For Nifty, crucial support seen at 24665 below which, we can expect larger degree of correction to get activated. Nifty 50...
Market Morning Notes For 28th August 2024
Benchmark indices ended on a flat note after sharp gains seen in the previous session while the Nifty Bank slightly outperformed. However, the broader markets outperformed with the Nifty Midcap and Small cap indices seeing gains in excess of 0.5 pct. Nifty is facing resistance near the psychological level of 25k. For Nifty, resistance is seen at 25,200 while reversal is likely to be confirmed...
Market Morning Notes For 27th August 2024
Market surged across the globe on Monday following comments from Fed in Jackson Hole which emphasized on rate cut and an accommodative monetary stance. Nifty managed to gain 0.8 pct while Bank Nifty continue to remain an underperformer. Crude prices have seen sharp reversal in the past few days and makes a strong case for a long-term breakout. A bullish pennant can be clearly seen in MCX...
Market Morning Notes For 26th August 2024
Markets managed to extend gains around 1% for the week on the back of Fed minutes pointing out to rate cut in September, which helped Nifty to cross 24,800. However, although the implied volatility has dropped below 13.5, the realized volatility of average 30 days has been trading above 13.5 and has been rising. This behaviour indicates markets are in complacent mode and a move below 24665 is...
Market Morning Notes For 23rd August 2024
Markets activity remained muted with Nifty ending with modest gains above 24,800 despite cooling off from days as markets have already discounted September Fed rate cut. At present, the Indian markets is seen overstretched comparable to global indices, key risk may emanate from breakout in realized volatility of Nifty in JPY terms. Crucial support for Nifty is seen at 24,650 below which,...