Market Morning Notes For 14th Feb 2024
Markets rebounded on Tuesday on the back of gains from the banking sector after an initial drag in the opening hours with Sensex forming a small bullish hammer on a candlestick. The US CPI came in hotter than expectations which puts the soft landing narrative under threat. This is the second straight month with both readings being higher than expected. Markets are worried that the Fed may not...
Market Morning Notes For 13th Feb 2024
Markets witnessed broad-based selling, especially from midcap and a small-cap segment where the small-cap Index plunged by 4% while Sensex suffered losses of 0.8% on the back of unwinding from domestic participants. The selling may be an indication that broader markets may have topped out in the near term and money flow is expected to divert from midcap and small-cap segment to large-cap...
Weekly Market Outlook
Nifty extends gains 21K mark; Global cues in focus Markets ended with a minor cut last week as the Reserve Bank of India (RBI) kept its key interest rate unchanged for a sixth consecutive meeting, in line with expectations. RBI held the short-term interest rate steady for the sixth time at 6.5 pct. While it was in line with expectations, there were hopes for positive commentary from the...
Market Morning Notes For 12th Feb 2024
Markets for the week remained under pressure after RBI emphasized about discontinuing the accommodative stance which forced Sensex to end lower by 0.6%. However, with Sensex holding firmly above 70,665, the potential for a further rally towards 75,600 remains on the cards. In macro terms, the Sensex to Gold ratio has seen a major breakout on a weekly basis which may lead to further...
Market Morning Notes For 9th Feb 2024
Markets witnessed a decline on the back of RBI withdrawing accommodative stance in monetary policy with Bank nifty declining over 2% forcing Nifty to end lower by 1%. After yesterday’s decline, Sensex has moved closer to 50 DMA and is expected to rebound from the support zone to resume its upmove in the near term. Meanwhile, the depreciating Japanese Yen may positively impact Indian markets...
Market Morning Notes For 8th Feb 2024
Mkts ended unchanged after initial gap up move with action turning more sector specific with gains from PSUs and selling in technology index. The inside bar with bullish candle indicates volatility to expand with positive bias in market and Sensex could be placed to test 75,600 in the coming days. Adding to it, bullish crossover can be witnessed in MACD which may act as a trigger for fueling...
Market Morning Notes For 7th Feb 2024
Markets ended with gains after recouping Monday’s losses and formed inside bar setup on candlesticks. The inside bar with bullish candle indicates volatility to expand with positive bias in market and Sensex could be placed to test 75,600 in the coming days. Adding to it, bullish crossover can be witnessed in MACD which may act as a trigger for fueling momentum in the short term. The previous...
Market Morning Notes For 6th Feb 2024
Markets cooled from highs to close with losses of 0.4% after news emerged about a slump in Chinese markets while the Pharma Index managed to end with gains of around 2%. From a trading perspective, Sensex remains with a positive bias as long it holds firmly above 70,665 with an immediate target seen at 75,600. With the recent depreciation in the Japanese Yen and Brent Crude trading...
Market Morning Notes For 5th Feb 2024
Markets for the week posted gains of around 2% despite weakness in Nifty Bank while large caps like Reliance, TCS, and Infosys significantly contributed to the Sensex upmove. The India VIX cooled from a high of 16 levels post-budget. From Sensex’s perspective, the breakout levels have been corroborated well after Sensex rebounded from the support line. In the next few days, we expect...