Market Morning Notes For 23rd April 2024
Markets rebounded with vengeance with Nifty gaining around 1 pct to cement its position above 22300. The corrective phase for market may be over for now and we expect next leg of rally towards 23500. We expect banks to remain outperformers. The US futures remained steady after the market ended on a positive note on Monday. Asian markets are showing a mix of optimism and caution due to the...
Market Morning Notes For 19th April 2024
Markets witnessed sharp decline in last hour of trade to wipe out earlier gains and ended in losses of 0.8% forcing Nifty to surrender below 22,000. The reaction was mainly on back of rising tension between Iran-Israel with Israel expected to escalate war in near future. Tensions are at an all-time high. Iran had warned earlier that that if Israel goes ahead with a retaliation for last week’s...
Market Morning Notes For 18th April 2024
The Nifty ended 0.56 pct down at 22147.90 in the previous session, however the broader market remained somewhat resilient. It opened on a weaker note followed by choppy moves towards ending in red. The Nifty could take support around 22,000 levels. Further, bullish momentum likely to continue as long as pivotal support placed around Nifty 22000 remains intact. Immediate resistance is placed...
FPO Note: Vodafone Idea Ltd.
Highlights Issue Size –: 16,363,636,363 sharesIssue Open/Close – 18 April / 22 April, 2024Price Band (Rs.) 10 – 11Issue Size (Rs.) – 180,000 mnValue (Rs) 10Lot Size (shares) 1298 Vodafone Idea Limited (VIL) backed by Vodafone Group and Adity Birla Group, is the 3rd largest telecommunications service provider in India based on subscriber base and 6th largest cellular operator...
Market Morning Notes For 16th April 2024
The Indian equity indices extended losses for the second consecutive session on yesterday on wide-spread selling, as Israel and Iran tensions escalated with Nifty breaching support of 22,300. With a dent below 22,300, we expect selling pressure to force Nifty towards 22,050 but a larger trend till 23,500 remains intact. We would suggest buy on dip at around 22,100. US stocks closed in the...
Market Morning Notes For 15th April 2024
Markets for the week ended with marginal gains to form shooting star pattern on candlestick signifying a reversal after war erupted between Israel and Iran. However, with India VIX trading below 12, for Nifty this move is more likely to be considered as pullback and is unlikely to go below 22,350. The overall outlook remains positive with a buy on dip with target placed at 23,500. The...
Market Morning Notes For 12th April 2024
Markets managed to end higher on Wednesday with Nifty Bank moving closer to 49,000 while Nifty posted gains of 0.5% despite being jittery at higher levels. At present, major catalyst for upside momentum is based on strength of Nifty Bank with the index cementing its position above 48,300. The upside potential in Nifty Bank is seen at 54,000 which may force Nifty to test 23,500 in the near...
Market Morning Notes For 10th April 2024
Markets formed a bearish counterattack line pattern on candlestick after prices cooled off at the days to end in marginal losses yesterday, but Nifty Bank continued to exhibit strength with closing above 48,636 which turned out to be earlier all-time high. At the current juncture, we expect Nifty 50 to take back seat for some time while momentum is likely to be shifted towards Nifty Bank...
Market Morning Notes For 9th April 2024
Markets for the week began on a positive note with Nifty 50 gaining over 0.7% while Nifty Bank remained laggard as gains were mainly contributed from Reliance Industries and Auto sector. With India VIX trading below 11.6 mark, markets are on a verge of a major upmove which is most likely to be lead from Nifty Bank in the coming days. Only trigger which can derail the current momentum could...