Pre Market Analysis – 9th Nov 2021
Markets rallied on Monday on positive global cues with Nifty gaining more than 1% in USD terms after U.S. democrats passed USD 1 trillion infrastructure bill which forced Nifty to settle above the key resistance of 18,034. A hanging man formation was also seen on Monday after prices gapped up, and then turned negative and recovered to close at day’s high which is a sign of indecisiveness. For...
Pre Market Analysis – 29th Oct 2021
Markets witnessed sharp sell off on Thursday after domestic buying failed to offset FII selling and Nifty failed to cross important resistance of 18377. The weekly bearish dark cloud cover in Nifty 500 index has finally taken toll on markets with Nifty surrendering & closing convincingly below 18034. With Bank Nifty plunging around 3.5%, the last pillar of strength has collapsed and we...
Pre Market Analysis – 28th Oct 2021
Nifty gave up gains in the later half of the trading session. Stock specific action continued with results result in full swing. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. With Nifty Midcap 100 index already breaching...
Pre Market Analysis – 19th Oct 2021
Markets extended gains on Monday by ending in green for seventh consecutive trading session and attempting resistance of 18,600. For the next few days, 18500-18666 is seen as a crucial resistance after Dollex 30 i.e. Sensex in USD terms has managed to close above its Septembers highs on Monday. On downside short term support is seen 18445 on closing basis. Earnings Today- ACC, Heildelberg...
Pre Market Analysis – 18th Oct 2021
Market last week gained by 2.5% despite USDINR hitting 1-yr high and Brent crude crossing 7-yr high on back of easy liquidity measures by central banks. After Friday’s up move, the Sensex in USD terms has re-tested its September highs and markets are likely to face resistance around 18,500-18,600 in the coming week. With Brent crude positioned for hitting USD 110 a bbl and USDINR about 80, we...
Pre Market Analysis – 14th Oct 2021
Markets rallied on Wednesday on the back of gains from Auto stocks with the Nifty settling well above 18100 but Bank Nifty struggled at higher levels. After yesterday up move, the Dollex 30 i.e. Sensex in USD terms has moved higher but remains 1.7% lower from Sep highs. Indian markets still remain vulnerable to major correction as USDINR still remains in the breakout zone for a potential...
Pre Market Analysis – 8th Oct 2021
Market bounced sharply after US Senate increased debt limit by $480 Bn averting major debt default later this month. Nifty rallied by 1% but late selling forced Nifty to close below short-term resistance of 17802. Currently USDINR has signalled a breakout for a possible target of 78 in days to come and with such high bullishness in USDINR, Nifty and Nifty Bank are unlikely to sustain at...
Pre Market Analysis – 7th Oct 2021
Markets reacted sharply yesterday to depreciating rupee after USDINR crossed 74.60 mark and forced Nifty to end with losses of 1% while Bank Nifty settled below 37708. A breakout above 74.60 has opened gates for 80 in weeks to come and we can expect major hit to occur in Bank Nifty which is struggling to sustain above Feb 21 highs. Bank Nifty is currently 2% away from major breakdown and...
Pre Market Analysis – 5th Oct 2021
Markets rallied 1% on hopes of accommodative stance by RBI in upcoming credit policy but situation has suddenly turned grim after Brent crude prices rose from USD 78 a bbl to USD 81 a bbl in late afternoon. With Nifty already holding Bearish Dark Cloud Cover in the previous week, markets are at a risk of major meltdown and a move above 74.50 in USDINR could add fuel to fire during a...