Market Morning Notes For 2nd May 2024
Markets witnessed last round of selling on Tuesday to force Nifty back towards 22,600 after initial attempt to cross all-time high. Despite volatility, the outlook for market remains robust and last round of selling is expected to get exhausted in a day or two as monthly candle has turned bullish one. US futures are trading green after the FED decided to keep rates stable. Despite...
Market Morning Notes For 30th April 2024
Markets zoomed towards higher levels on back of booster dose from Nifty Bank with the index surging 1200 points. A major breakout is active in Nifty Bank above 49,000 for a potential target of 54,500. Following a positive close in the US cash market, US futures trading higher. Asian markets are trading in green amid the supportive overnight cues. Crude remains constant amidst ceasefire...
Market Morning Notes For 29th April 2024
Markets ended red on Friday. Nifty ended ~0.7% at 22,419. Indian markets are well supported by Q4FY24 FY24 results. As long as the key support around Nifty 22300 remains undisturbed, the bullish trend is expected to continue. We expect positive momentum to accelerate further, with an immediate target seen towards 23,500 for the Nifty. The US Future is trading positive after the cash market...
Market Morning Notes For 26th April 2024
Markets for April expiry settled with strong gains with Nifty nearly away 1% from all time high and Nifty Bank activating a triangle breakout. We expect positive momentum to accelerate further with immediate target seen towards 23,500 for Nifty. The US Future is trading higher after the cash market ended red on Thursday due to weak economy data. In Asia most of the equity markets are...
Market Morning Notes For 25th April 2024
Markets ended slightly higher on Wednesday. The Nifty index is currently experiencing some resistance between the levels of 22,400 and 22,500. However, it has been able to stay above the lower end of this range. Indian stocks will start the day with a neutral to slightly negative tone, but there may be some volatility due to the expiry of the April series. US Futures trading lower after US...
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...
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...