Market Morning Notes For 4th March 2024
Markets for the week ended with gains of less than a percent but was able to penetrate the resistance of 22,300 after an intense battle, thus paving the way for a meaningful upside in the near term. The breakout in Nifty futures has clearly been established and we expect an immediate upside target of 23,400 to be achieved in the next 10-15 trading session. Meanwhile, a rebound in Bank Nifty...
Market Morning Notes For 1st March 2024
Markets witnessed trading in a narrow band on expiry day with Nifty extending monthly gains by 1% while financials turned laggard. The narrow trading band in the past few weeks may convert into a larger upside once Nifty futures cross above 22,280 with a potential target of 23,400 in the near term. The recent movement in Bitcoin is back above USD 60,000 which hints global markets are flushed...
Market Morning Notes For 29th Feb 2024
Markets reacted sharply to close lower by more than 1% after failure to cross 22,300 in Nifty futures and was followed by closing below 22,000. The decline has led to the completion of a larger flag pattern in Nifty futures and is likely to follow up with a significant upmove as positions roll over to the March series. We expect 22,060 in the Nifty spot to act as a crucial resistance above...
Market Morning Notes For 28th Feb 2024
Markets witnessed low volatility on Tuesday with Nifty turning range bound but managed to put modest gains to close around 22,200. It opened on a negative note followed by choppy moves towards ending on a subdued note. In Nifty future, the breakout levels are revised to 22,300 from earlier 22,250 to force Nifty to scale towards 23,300. Bullish momentum is likely to continue as long as the...
Market Morning Notes For 27th Feb 2024
Markets remained under pressure on Monday after Nifty futures failed to open above the crucial hurdle of 22,250 and was followed by a lower closing of 0.3% despite robust global markets. The current consolidation could be on the back of rollover activity as we move closer to expiry while a higher premium in the next month’s futures and a higher number of stocks in the F&O ban list...
Market Morning Notes For 26th Feb 2024
Markets for the week ended with modest gains with Nifty rallying 0.7% and managed to post all-time weekly closing high on back robust liquidity in the global markets. Based on price action in the last week, it can be clearly seen that multiple attempts to close above 22,250 in Nifty Futures have been unsuccessful which has led to the inactivation of the breakout. However, in the current week,...
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...