Market Morning Notes For 1st December 2022
Markets rallied on Wednesday after price breakout confirmation above 18580 and were also supported by volume breakout with total turnover crossing 100000 crores. The Fed commentary turned dovish about the further pace of rate hikes thus impacting global markets positively. This can provide a further push for Indian markets, and we can expect the upside potential for Nifty 50 to extend towards...
Market Morning Notes For 30th November 2022
Markets witnessed narrow trading activity on Tuesday with Nifty 50 closing above the key hurdle of 18580 but broader markets remained on the weak side with midcap and small-cap indices closing in the negative terrain. The lower India VIX reading and Nifty 50 closing above 18580 could see further buying in the next few days from non-Financial to force a further 6% up move in the coming days....
Market Morning Notes 28th November 2022
Markets for the week ended 1% higher mainly on the back of sharp gains in the technology sector thus helping Nifty 50 to close exactly at the 18513 mark with India VIX closing at a 52-week low. The lower reading ideally should act as a catalyst for a major breakout towards 19800 in Nifty 50 but with Bank Nifty testing the resistance of the “Rising wedge”, it becomes necessary for prices to...
Market Morning Notes for 24th November 2022
Markets continued to feel the heat at higher levels with the Nifty 50 giving up most of its gains in last hour of trade to close on a flat note. The level of 18513 remains a key hurdle without which the market remains in an extreme danger zone with a potential target of 14700. At the current moment, volatility has squeezed to the lowest point on the back of the Nifty 500 Index moving towards...
Market Morning Notes for 22nd November 2022
Markets succumbed to selling pressure on Monday with the Nifty 50 breaching last week’s low of 18209 and closing below the same. The rebound in Brent crude from 83$ in yesterday’s trade is seen as a significant warning for Indian markets as the current rebound has not only confirmed “Double Bottom” but also has the potential to rally towards 150$ in the coming months....
Market Morning Notes for 21st November 2022
Markets for the week ended with marginal losses after failing to cross the key hurdle of 18513 with Nifty futures closing below the key support of 18370. In the past few days due to selling in B-group stocks the Nifty 50 Index has managed to show sharp outperformance compared to the Nifty 500 Index forcing the spread of the Nifty 50- Nifty 500 index to approach the weekly resistance mark....
Market Morning Notes For 02nd November 2022
Markets for the month of November began on a positive note with the Nifty 50 Index closing well above the 8-month high followed by confirmation of the ‘Monthly Breakout’. The breakout setup has clearly opened the gateway towards 19867 but with one important ‘Caveat’. It becomes necessary from now onwards that Nifty 50 clears the hurdle of 18513 in the next few days else there is a 10%...
Market Morning Notes For 31st October 2022
Nifty 50 last week ended with gains of more than 1% which may sound insignificant, but detailed descriptions indicate that the market has laid the foundation for ‘Big Fat’ by posting the weekly closing above the 17780 mark. The daily spread of the Nifty 50- Nifty 500 Index has seen a convincing breakout above the 2515 mark which may act as an important landmark for a start of a large...
Market Morning Notes For 14th October 2022
Indian markets remained nervous on Thursday ahead of US CPI numbers with the Nifty 50 ending with losses of 0.6% but sustained above the 200 EMA. The initial reaction of US markets when they opened for trading was negative after US CPI numbers came higher than expected. US indices however reversed losses to end higher by more than 2% after the announcement of Fed Swaps price in the peak...