Market Morning Notes For 23rd Feb 2024
Markets witnessed a volatile session on Thursday with Nifty not only recouping early morning losses but ended with gains with 200 points in Nifty futures. The breakout has been confirmed after closing above 22,250 in Nifty futures and is expected to force a short covering rally towards 23,200 in the coming days. Weakness in the Japanese Yen in the past few days has been a key trigger for...
Market Morning Notes For 22nd Feb 2024
Markets reacted sharply from highs on Wednesday to end in the negative terrain ahead of Fed minutes with Nifty ending closer to 22,000 levels. The Fed minutes admitted that current rates remain significantly higher but failed to provide a clear-cut stance in a number of rate cuts in 2024. The market is expected to consider these comments positively and is expected to surge 5-6% in the coming...
Market Morning Notes For 21st Feb 2024
Markets extended gains on Tuesday despite initial lower opening with Nifty Bank rebounding sharply and closing with gain over 1%. Nifty has managed to post closing at all-time high with breakout evident after trading sideways movement for more than a month. An immediate upside for Nifty is seen towards 23,200 while 21,900 is expected to act as a major support. Much would also depend on U.S...
Market Morning Notes For 20th Feb 2024
Markets for the week began on a positive note with Nifty testing all-time highs but witnessed minor profit booking in late hours of trade. The flag breakout in Nifty is likely to accelerate momentum further with an immediate target of 23,200 while Nifty Bank is likely to re-test its recent breakaway gap of 47,300. The current rise of India VIX may be due to the event of Fed Minutes which is...
Market Morning Notes For 19th Feb 2024
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...
Market Morning Notes For 16th Feb 2024
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...
Market Morning Notes For 15th Feb 2024
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...
Market Morning Notes For 14th Feb 2024
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...
Market Morning Notes For 13th Feb 2024
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...