Market Morning Notes For 9th June 2023
Markets reacted lower after RBI maintained the status quo in monetary policy which was on the expected lines. However, the markets were expecting a dovish stance in RBI commentary which was missing. The major drag for the market came from financials which cooled off 1% from the day’s high. At the current juncture, Nifty remains in a critical juncture for a launch of the major rally as the...
Market Morning Notes For 8th June 2023
Markets carried momentum further higher on Tuesday with gains mainly coming from non-financial and Nifty Alpha Low Volatility index stocks rising more than 1%. Since March 2023, The Nifty Alpha Low Volatility Index has gained nearly 13% outperforming Nifty & Sensex with wide margin and still has further room of 13% in the coming days. With Nifty Futures taking out the major hurdle of...
Market Morning Notes For 7th June 2023
Markets witnessed volatile trade on Tuesday with Nifty drifting lower and later on recover in the last hour of trade to end in marginal positive terrain. The spread of Nifty 50-Nifty 500 Index has re-tested the support of bullish flag which may provide necessary cushion for Nifty 50 index to launch major rally towards 19285. For today’s trading session, 18750 in Nifty futures is seen as a...
Market Morning Notes For 6th June 2023
Markets gapped higher on Monday but failed to cross its recent high of 18662 as sharp surge in USDINR above 82.5 triggered renewed selling in financials at higher levels. For Nifty, the setup of rising three methods in candlestick still remains active with potential target of 19285 and we expect major short covering on move above 18662. The lower reading in India VIX around the 11...
Market Morning Notes For 5th June
Markets for the week ended with marginal gains and managed to cement it position above the key psychological barrier of 18500 with India VIX closing around 11% mark. With formation of rising three methods on daily candlestick, Nifty has been positioned for major gap up opening in today’s trading session with immediate target seen at 19285. The important trigger for positive momentum is likely...
Market Morning Notes For 2nd June
Markets extended weakness on Thursday to violate the breakaway gap and closed below 18508 after caution was seen from financial segment while broader markets remained strong. The last four days of consolidation has thrown up rising three methods on candlestick chart and any gap up opening above yesterday high i.e., 18580 should confirm major trend reversal back in the...
Market Morning Notes For 1st June 2023
Markets for the May ended higher for the second straight month and posted gains of 2.5%. The monthly charts indicate short term hurdle at 18604.45, above which we expect smooth sailing towards 19285 for the month of June. The key catalyst for the strong up move in June may come from sharp drop in brent crude prices which has managed to settle below USD 74 a bbl. We expect 18508 to act as a...
Market Morning Notes For 31st May 2023
Market activity remained range bound on Tuesday but Nifty managed to stay afloat above the breakaway gap support which was placed at 18,508. The next leg of breakout may be witnessed above 18,750 in Nifty futures with the short-term target placed at 19,000. In today’s trading session, we can expect lower opening but buying support is expected to emerge around 18,580. Nifty 50 Stocks...
Market Morning Notes For 30th May 2023
Markets formed breakaway gap on Monday after Nifty surpassed psychological barrier of 18,500 and managed to stay above same for rest of the day. The breakaway gap confirms the start of new uptrend which has minimum potential to test levels of 19,285. For today’s trading session, support is seen at 18,500 with upside target for day set at 18,774. Nifty 50 Stocks to...