Market Morning Notes For 28th November 2024
Market Commentary Global markets – The Dow Jones Industrial Average and the S&P 500 lost momentum and continued to decline following Tuesday’s record highs against the backdrops of economic data being assessed by the market. The Dow Jones slipped by 0.3 pct, while the Nasdaq also fell by 0.6 pct. Global Indices % Change Last Close1 dayYTDDow...
Market Morning Notes For 27th November 2024
Market Commentary Global markets – All three major U.S. indices closed in positive territory as traders overlooked President-elect Donald Trump’s latest threats to hike tariffs on Mexico, Canada, and China. The Dow & S&P 500 hit new all-time highs, gaining 0.28% and 0.57%, respectively, while the Nasdaq also advanced by 0.57%. Global Indices % Change Last...
Market Morning Notes For 26th November 2024
Markets extended gains on Monday with gap up opening but failed to cross the crucial resistance of 24,387 despite support from Bank Nifty. A doji star was seen as a sign of indecisiveness but reversal of the recent rally can be confirmed only on close below yesterday’s low which is placed at 24,135. The levels of 24,387 is seen at 38.2% retracement and is likely to act as a major turning...
Market Morning Notes For 25th November 2024
Markets for the week ended higher by 1.5% ahead of expectation of BJP alliance forming government in Maharashtra helping Nifty to regain towards 23,900. The rebound on Friday aggravated in last hour of trade which was mainly contributed by IT index which rallied by more than 3% led by giant caps. For Nifty, the current rebound has ability to extend towards 24,387 based on 38.2% retracement...
Market Morning Notes For 22nd November 2024
Markets succumbed to selling pressure on Thursday as key indices opened lower amidst US court indicting Adani in serious criminal charges and issuing an arrest warrant which led most of Adani Group stocks to open sharply circuit. The impact for Nifty 50 was more measured as the decline was restricted to 23,300 while Bank Nifty managed to defend floor of 50,000 mark. With Adani Stocks holding...
Market Morning Notes For 21st November 2024
Markets exhibited extreme bearish behaviour on Tuesday as indices attempted gains of more than 300 points in Nifty futures but most of the gains were wiped out in the last hour of traded to end in marginal losses. The rebound expectation was mainly attributed due to oversold reading in RSI which had touched levels below 30. The current market trend suggests that there has been already a range...
Market Morning Notes For 19th November 2024
Nifty on Monday extended losses to close below the crucial support 200-EMA which was placed at 23,522 while Bank Nifty managed to show some resilience to end in the positive terrain. Currently, Nifty has activated highest single trend range breakout crossing earlier range of 3005 points which was witnessed during phase of April-June 2022. The range breakout would mean that Nifty has potential...
Market Morning Notes For 18th November 2024
Markets last week witnessed major battle between bulls and bears as Nifty 50 tested key support of 200-DMA but final tally saw Nifty ending with losses of more than 1.5%. The next leg of decline for markets may come from breakdown in Bank Nifty futures which has activated Head & Shoulder breakdown and is likely to decline immediately towards 46,000. For Nifty 50 Index, the selling is...
Market Morning Notes For 14th November 2024
The selling continued on Wednesday with Nifty sliding over 1% and ended near the 200 DMA which is placed at 23,545. The broad-based selling has been seen mainly from the consumption sector which poses key risk for extended decline in the Indian markets. A breach below 23,890 has already opened gateways for Nifty’s journey towards lower levels, with immediate target seen at 22,000. There has...