Market Morning Notes For 25th September 2024
Market activity remain cautious ahead of the crucial F&O expiry with Nifty facing hurdle at the psychological barrier of 26,000 while India VIX is seen steady accumulation at lower levels. From a trading perspective, the recent weakness in rupee against GBP and JPYINR may act as a major trigger for global unwinding in Indian stocks with Nifty tolerance at lower levels for reversal...
Market Morning Notes For 24th September 2024
Markets extended gains on back of upbeat global markets with Nifty closing above 24,900 led by gains from PSU Bank and Auto sector stocks. In the past few days, despite gains in Nifty, the India VIX has been going through a steady accumulation and has witnessed a surge of 5% in yesterday’s trading session. The gains in India VIX provides a early warning signal as institutions often resort of...
Market Morning Notes For 23rd September 2024
Markets for the week rallied further to post gains of nearly 2% with Nifty 50 outperforming the broader indices on back of a 50-bps rate cut from the U.S. Fed. The markets are seeing wide divergence with broader markets underperforming the key indices. The data setup in broader indices like Nifty100 Equal weighted Index suggest that the prices are still trading in the taper zone of rising...
Market Morning Notes For 20th September 2024
Nifty faced profit taking after a gap up opening at record highs but witnessed profit taking at higher levels. Bank Nifty continued its short-term outperformance against the Nifty wherein the index missed trading a fresh all-time high by a whisker. Global markets reacted positively overnight which is taken forwards as a more matured reaction to Fed’s interest rate reduction cycle...
Market Morning Notes For 19th September 2024
Markets remained under pressure with finally ending with losses of 0.2% ahead of crucial US Fed meeting. With Fed cutting rates aggressively by 50 bps, markets may react positively in initial phase but later is likely to succumb to selling pressure as it would hint of slower growth in the US economy. For Nifty, with evolution of rising wedge setup, the upper resistance for Nifty is seen in...
Market Morning Notes For 18th September 2024
Markets activity remained subdued with Nifty posting marginal gains to close above 25,400 ahead of the key US Fed Monetary policy meeting. The short-term data suggests prices are oscillating at upthrust zone of rising wedge and is prone to a larger reversal on close below 25,250. Globally, markets have discounted 50 bps rate cut in today’s Fed policy and we expect markets to sell off if...
Market Morning Notes For 17th September 2024
Nifty continued its consolidation in half a percent band on Monday as the market prepares itself for the September FOMC meet commencement tonight. From a trading perspective, there is a formation of rising wedge setup in Nifty 50 Index and this would mean prices are unlikely to sustain beyond 25,575 while reversal is seen on a close below 25,250. Nifty 50 Chart Stocks to watch...
Market Morning Notes For 16th September 2024
Markets for the week recouped entire earlier week losses to regain control above 25,200 on expectation of a 50-bps rate cut in the US Fed policy. This surge in Nifty was witnessed at a time when JPY saw further sharp appreciation on expectations of a weak dollar. From a trading perspective, there is a formation of rising wedge setup in Nifty 50 Index and this would mean prices are unlikely to...
Market Morning Notes For 13th September 2024
Markets rallied to new all-time high with Nifty clocking gains of more than 400 points on expectation of a 50-bps rate cut in next week Fed’s policy. Yesterday positive impact was also driven by ECB cutting rate by 25 bps which led to arrest of gains in EURINR. At the present juncture, the Nifty has formed setup of rising wedge and this would mean Nifty is likely to remain under pressure on...