Market Morning Notes For 1st April 2024
Markets for the month of March settled higher by almost 2% on back of U.S Fed promising aggressive rate cuts in the near future which has also led to sharp surge in Gold and BTC prices. For the past three years, there was severe underperformance from Nifty Bank due to surging US bond yields, however from here on we can expect major relief rally from Nifty Bank after a recent breakout above...
Market Morning Notes For 28th March 2024
Markets witnessed concentrated action on Wednesday with Reliance Industries solely contributing to gains in Nifty while Nifty Bank turned laggard. In the current scenario, Nifty has been battling with breakout zone of 22,200 above which we may see acceleration of momentum towards 23,500. The ADX line also has been indicating an oversold terrain in the past few days and hints that the market...
Market Morning Notes For 27th March 2024
Markets on Tuesday formed an inside bar with prices oscillating in narrow range and ending with losses of 0.5%. The broader markets witnessed better performance as midcap and small cap segment managed to end in the green while Nifty Bank ended below 47,000. At present, the major trigger for upside is expected from the banking sector which has seen significant underperformance since October...
Market Morning Notes For 26th March 2024
Markets for the week rebounded with marginal gains forming hammer like pattern on weekly candlestick with major selling seen in technology stocks. The hammer pattern suggests major bullishness on a move above 21,180 in Nifty which may open gates for a rally towards 23,500 with major contribution expected from the banking sector. At present, Nifty Bank is trading near major breakout and is...
Market Morning Notes For 22nd March 2024
Markets rebounded sharply to regains its control above 50 DMA led by gains from banks. The sharp drop in India VIX is seen as a positive trigger for Nifty for its upcoming rally towards 23,500. We expect Nifty Bank to see outperformance in breakout above 47,100. Nifty Futures Chart Stocks To Watch Positive Read Through TVS Motor – To issue 4 NCRPS worth Rs. 19 bn via...
Market Morning Notes For 21st March 2024
Markets on Wednesday managed to take support near 61.8% Fibonacci Retracement and thereafter ended in mildly positive terrain. The sustained fall in India VIX indicate major accumulation in Nifty 50 stocks and we expect major rally in the coming days with lead expected from Nifty Bank. The U.S Federal Reserve left interest rates unchanged. The Fed sees three rate cuts in 2024 but a shallower...
Market Morning Notes For 20th March 2024
Markets breached 50 DMA on Tuesday on back of selling in broader markets, but India VIX continued to remain in a narrow range indicating signs of a mere shake out rather than trend reversal. In short term charts, Sensex has seen retracing sharply after hitting new all-time high and negating a double top setup. This would mean that there is high likelihood that prices may find support near...
Market Morning Notes For 19th March 2024
Markets formed an inside bar on Monday with trading action restricted in a narrow band and was followed with Nifty maintaining its hold above 50 DMA. We expect positive momentum to resume after Fed monetary policy with near term target seen at 23,500 in Nifty spot. Crucial sector to watch would be Nifty Service sector which would act as key catalyst for Nifty’s journey towards 24,000....
Market Morning Notes For 18th March 2024
Markets for the week witnessed selling pressure with Nifty ending lower by 2% while Midcap and Small cap indices corrected more than 5% on back of stress test applied by mutual funds on the directives of SEBI. However, with India VIX comfortably trading below 14 mark, it can be construed that maximum protection is getting built in Nifty at 22,000 due to heavy selling in put options. In the...