Market Morning Notes For 23rd March 2023
Market activity remained laggard on Wednesday ahead of the crucial Fed meet and merging of settlement which led to Nifty inching marginally higher but failing to cross 17156. The Fed raised key rates by another 25 bps, however, the commentary suggested some additional policy firming. However, it is the comment from Treasury Secy Yellen that spooked the markets- she says not considering a...
Market Morning Notes For 22nd March 2023
Markets managed to end at the highest point of the day after an initial gap-up opening on Tuesday but failed to cross the crucial hurdle of 17156 in Nifty Index. The high of the bullish hammer appearing on Monday’s trading session was taken out on a closing basis, thus putting more firepower for bulls to trade higher for the next few days and more leg of buying is likely to emerge once Nifty...
Market Morning Notes For 20th March 2023
Markets last week remained under pressure but recovery on Friday trading session helped key indices to trim losses to less than 2%. The BSE Sensex has formed a typical bullish expanding triangle which has added significant confusion due to higher high and lower low and has recently tested the long-term breakout line or neckline of head & shoulder bottom. With broader markets showing...
Market Morning Notes For 17th March 2023
Markets exhibited signs of strength as the broader index namely the Nifty 50 equal weighted Index failed to trigger a closing below the support line, thus helping the Nifty 50 to end in the marginal positive terrain. The Sensex has tested the lower end of the bullish expanding triangle and hence we may witness a major trend reversal on Sensex closing above 57,630 in today’s trading...
Market Morning Notes For 16th March 2023
Markets made one more attempt to cross 17,205 on Wednesday but the last hour of selling forced Nifty to settle below 17,000. Currently, the broader markets have seen a good amount of strength, but large stocks are unable to post-recovery. The Nifty 50 Equal weighted Index also indicates the completion of a falling wedge setup and suggests that broader markets are poised for a major recovery....
Market Morning Notes For 14th March 2023
Markets witnessed a sharp turnaround on Monday, as a higher opening of 100 points was followed by a sharp decline to breach an intermediate low of 17,255 and settled below 17,200 in the Nifty 50. The selling pressure was mainly felt in the financial sector with Nifty Bank ending lower by more than 2% as a contagion of two failed U.S. banks impacted most of the small and mid-size banks in...
Market Morning Notes For 10th March 2023
Markets declined on low volumes on Thursday taking cues from the global market amidst worries of a 50 bps rate hike in the upcoming Fed policy on 22 March. The decline forced prices to retrace around 38.2% of the recent up move which is seen as a strong support and reversal zone. The immediate upside based on weekly closing is expected around 17870 based on the bullish weekly candle in the...
Market Morning Notes For 09th March 2023
Markets erased opening losses to close at the highest point of the day with Nifty in USD terms reconfirming a breakout for the second consecutive trading session. Going forward, we expect buying momentum to accelerate further with an immediate target for the week placed at 17,870 and 19,500 thereafter. Nifty 50 in USD terms Stocks to watch Positive Read through Alembic...
Market Morning Notes For 08th March 2023
Markets for the week began on a positive note but late selling on Monday’s trading session forced Nifty to close below 17600. Monday’s closing is seen as a positive trigger for Indian markets as the ratio of Nifty 50 in USD terms has activated a breakout from the falling wedge setup and paving way for an immediate upside towards 18,700 in the coming days. The weekly closing would...