Markets for the week ended with gains of 1% as Nifty managed to rebound sharply despite breaching two weeks low and settled above the psychological barrier of 22,000. The Nifty future closing above 22,078 has confirmed major breakout and an immediate upside based on Flag pole projection indicates a target of 23,200 in the coming days. We expect major short covering to occur in Nifty futures...
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Markets managed to consolidate on Thursday and added gains with Nifty future closing above the psychological barrier of 22,000. We expect major short covering to emerge in Nifty future above 22,078 which may trigger a flag breakout with an upside target seen at 2,3200. We expect beaten-down sectors like FMCG to rebound from extremely oversold terrain in today’s trading session. Nifty...
Markets witnessed smart recovery led by PSU Bank and Oil & Gas stocks which helped recouped losses of over 1% and was followed with Sensex closing above 71,700. Asian markets are trading higher in early trade on Thursday as overnight recovery on Wall Street boosted sentiment. Nifty index rebound from an important support of 21,500 levels. With Sensex closing above 71700, we expect an...
Markets rebounded on Tuesday on the back of gains from the banking sector after an initial drag in the opening hours with Sensex forming a small bullish hammer on a candlestick. The US CPI came in hotter than expectations which puts the soft landing narrative under threat. This is the second straight month with both readings being higher than expected. Markets are worried that the Fed may not...
Markets witnessed broad-based selling, especially from midcap and a small-cap segment where the small-cap Index plunged by 4% while Sensex suffered losses of 0.8% on the back of unwinding from domestic participants. The selling may be an indication that broader markets may have topped out in the near term and money flow is expected to divert from midcap and small-cap segment to large-cap...
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Nifty extends gains 21K mark; Global cues in focus Markets ended with a minor cut last week as the Reserve Bank of India (RBI) kept its key interest rate unchanged for a sixth consecutive meeting, in line with expectations. RBI held the short-term interest rate steady for the sixth time at 6.5 pct. While it was in line with expectations, there were hopes for positive commentary from the...
Markets for the week remained under pressure after RBI emphasized about discontinuing the accommodative stance which forced Sensex to end lower by 0.6%. However, with Sensex holding firmly above 70,665, the potential for a further rally towards 75,600 remains on the cards. In macro terms, the Sensex to Gold ratio has seen a major breakout on a weekly basis which may lead to further...
Markets witnessed a decline on the back of RBI withdrawing accommodative stance in monetary policy with Bank nifty declining over 2% forcing Nifty to end lower by 1%. After yesterday’s decline, Sensex has moved closer to 50 DMA and is expected to rebound from the support zone to resume its upmove in the near term. Meanwhile, the depreciating Japanese Yen may positively impact Indian markets...