Pre Market Analysis – 13th Oct 2021
Market extended gains on Tuesday with Nifty ending higher by 0.3% but in USD terms remained more or less neutral. The Nifty in USD terms has been trading sideways since mid of September and has formed Head & Shoulder top and a short term breakdown is placed 1.6% lower. Today, all eyes will be on Fed Minutes which will set the tone for tapering adjustment and strength of dollar...
Pre Market Analysis – 12th Oct 2021
Nifty failed to sustain above 18000 on Monday as surge in USDINR forced Nifty to retreat from higher levels and ended below 17950. With long term breakout in USDINR being activated above 74.80, the positive momentum can easily carry upmove towards 78 and beyond. The rise in USDINR also has forced Indian 10 yr bond yield to cross 6.3% and this may eventually trigger more selling from FII. For...
Pre Market Analysis – 11th Oct 2021
Indian markets in dollar terms were up 1% for week as Nifty rallied 2% despite sharp drop in rupee and USDINR closing above 75. First time after August 2020, USDINR has posted weekly closing above 75 and we can expect move towards 78 in quick succession from here on. Last week, due to rupee depreciation, technology index was up 5% but from here on, we can expect major unwinding in financials...
Pre Market Analysis – 30th Sept 2021
The benchmark indices ended lower for the second consecutive session on Wednesday amid volatility. Recovery in European markets and buying at lower levels helped the indices recoup losses. The Nifty once again took support near the 10-day SMA or 17,600 and reversed sharply. After yesterday’s sharp intraday fall, the index has formed a inside bar candle pattern which indicates...
Pre Market Analysis – 28th Sept 2021
Nifty confirmed formation of upside gap two crows on Monday after prices opened higher but ended on flat note thus engulfing previous upmove. The upside gap two crows has major significance of trend reversal if occurred after extended rally and often confirms market top on follow up negative closing. With Natural Gas shooting by 30% in past 5 trading session and crash in Indian Govt bond...
Weekly Market Research by Fintoo – 26th Sept 2021
Bull-run continues; F&O expiry and auto sale numbers in focus: Markets continued its euphoric bull run with Sensex surging past the 60,000 mark for the first time ever. Positive global cues, diminishing concerns about a possible third wave of the coronavirus pandemic and report that FPIs stock holding value soars to USD 630 bn as of August 2021 also perked up the sentiments. Asian markets...
Pre Market Analysis – 16th Sep 2021
The market gained after the government cleared the telecom relief package and PLI schemes for another sector to help Nifty close above 17500. The major contribution of upmove in Nifty was seen from technology stocks with Bank Nifty underperforming the Nifty Index. After yesterday upmove, the Nifty IT has hit a roadblock of 10 consecutive weekly highs. With Brent crude crossing above USD 75 a...
Pre Market Analysis – 15th Sep 2021
Markets remained in a narrow range with Nifty facing resistance at 15500 while broader markets like midcaps and small caps managed to outperform the leading index. With NYSE Composite closing below 100 DMA, we can expect global markets to face sustained selling pressure, while Indian markets which are trading at euphoric highs may see mean reversion when support of 17214 in Nifty is taken out...
Pre Market Analysis – 14th Sep 2021
Markets recouped its opening losses on Monday after gains from IT & Metals stocks while Bank Nifty ended lower by 0.6% and Nifty ended above 17350. After yesterday up move, both Brent crude and Natural Gas prices have activated short term breakout, thus opening scope for 10-15% upside in near term. We can expect financials to underperform due to such breakout while Nifty may turn see wild...