Market Morning Notes For 16th June 2023
Markets remained cautious post the Fed hawkish stance and the Nifty ended on a negative note with the Nifty Bank underperforming. The Nifty has failed to clear its recent high of 18777 and formed a small doji star on candlestick signifying indecisiveness. For Nifty, we can expect current rally to extend towards 19194 before we see major profit booking. Dow finished 430 points higher...
Market Morning Notes For 15th June 2023
Markets extended gains on Wednesday but failed to clear recent high of 18777 and formed a small doji star on candlestick signifying indecisiveness. The US Fed kept rates unchanged which has provided some short-term relief for the global markets but hawkish stance in commentary may limit significant upside for markets in the short-term. For Nifty, we can expect current rally to extend towards...
Market Morning Notes For 14th June 2023
Markets gapped up above 18720 in Nifty futures and managed to reinforce breakout from consolidation zone. The immediate target from hereon is expected around 19194 in Nifty future which may be followed with sharp profit booking. With U.S Fed meet lined up today evening, we expect markets to take positive cues if interest rates hikes are paused and on a dovish commentary. Key US data- FOMC...
Market Morning Notes For 13th June 2023
Markets activity remained range bound on Monday as Nifty futures failed to cross 18720 despite trading with positive bias throughout the day. We expect major bullishness to reinforce on a move above 18720 with immediate target of 19000. The lower reading of India VIX of around 11% mark suggests excessive put writing in system which may also act as key catalyst for Nifty journey towards 19500...
Market Morning Notes For 12th June 2023
Markets for the week ended with marginal gains after Nifty failed to cross the key hurdle of 18800 after RBI opted for a cautious approach by refraining from a significant cut in inflation expectation. In the coming week, the global markets may have to battle out Fed meeting where a rate hike pause is already priced in but Fed commentary would be crucial for future policy stance. For...
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...