Market Morning Notes For 27th September 2022
Markets succumbed to selling pressure on Monday after key indices opened with a gap below 50 DMA with the Nifty ending with losses of 2% while metals and financials suffered maximum because of the surge in USDINR beyond 81.5. The current corrective setup of BSE Sensex is similar in nature compared to the setup during 2018 and hence likely to be followed with quick recovery in the coming...
Market Morning Notes For 23rd September 2022
Markets reacted to the Fed rate hike of 75 bps with the Nifty ending lower by 0.5% outperforming most global markets but USDINR surged to lifetime highs towards 81 on the back of the strong dollar. The impact of rising in USDINR was felt in Bank Nifty which saw a decline of more than 1% but the broader market remained strong with both mid-cap and small-cap ending in positive terrain. For...
Market Morning Notes For 22nd September 2022
Markets turned cautious on Wednesday to end lower ahead of Fed rate action and the Nifty managed to sustain above important Sep Series VWAP support of 17666 even during the closing session. On daily basis, the Nifty is still trading above the breakout line which increases the probability of a sharper up move towards an all-time high, and lower brent crude prices below USD 90 should further...
Market Morning Notes For 21st September 2022
Markets ended with gains of 1% after opening higher which helped Nifty futures to penetrate above the September series VWAP of 17,666 with Bank Nifty outperforming by a wide margin. A close above 17,775 in Nifty has re-activated bullish momentum after indices re-enter the weekly breakout zone with a potential upside of 19,867. The main trigger for an upside in Nifty in the coming days is...
Market Morning Notes For 20th September 2022
Markets rebounded from lows to end in positive terrain with Nifty closing above 17,600 but breadth of market remained negative. The September series VWAP for Nifty is placed at 17666 above which, bulls will gather steam to re-test its all-time high. The main trigger for outperformance of Indian market against its global peers likely to come from breakout in ratio of Nifty 50 to MCX WTI...
Market Morning Notes For 19th September 2022
Markets on Friday sold off ahead of U.S Fed meet on expectations that a higher-than-expected CPI number would force the Fed to resort to an aggressive rate hike of 100 bps to curtail inflation. Nifty ended lower by 1.7% after hitting 24 weeks high while Bank Nifty posted weekly gains of 1% after hitting an all-time high. Due to sectoral diversion in the Indian market with the Nifty IT...
Market Morning Notes For 16th September 2022
Markets remained under pressure on Thursday on the back of weakness in technology stocks with the Nifty ending lower below 17900 as Bank Nifty retracted after hitting lifetime highs. The current setup in Sensex post 19 August has emerged in a bullish ascending triangle and this would mean the market has gathered enough firepower to hit 19000 levels in Nifty in the coming days. Yesterday’s...
Market Morning Notes For 15th September 2022
Markets bucked the global trend yesterday with Nifty 50 positing a sharp recovery from lows of 17771 forming a ‘Bullish Piercing line ‘pattern setup while Bank Nifty ended with decent gains of 1.3% forming a ‘Bullish Belt Hold Line’ pattern on the candlestick chart. The weekly breakout for the Nifty 50 Index which was confirmed last Friday has acted as a major catalyst for a sustainable...
Market Morning Notes For 14th September 2022
Markets extended gains on Tuesday with the Nifty closing well above the 18000 mark while broader markets underperformed. The consistent FII buying in the past few days has created a solid cushion for Indian markets which may force Indian markets towards an all-time high in the coming days. In event of hiccups, like today’s trading session where Indian indices may open a gap down on the...