Market Morning Notes For 09th February 2023
Markets rebounded sharply on Wednesday despite RBI hiking repo rates by 25 bps. RBI Gov says the situation remains fluid and uncertain. RBI is focused on the withdrawal of accommodation. Core inflation remains sticky and inflation will rule above the 4 pct target. Nifty has been trading in a narrow band of 17600-17900 since Budget Day and all eyes remain on the movement of USDINR which is...
Market Morning Notes For 8th February 2023
Benchmark indices extended losses on Tuesday as markets turned cautious ahead of U.S Fed Chairman Powel’s speech which was scheduled yesterday. Powel maintained that further rate hikes are not ruled out if the current trend of good jobs data continues or inflation remained high. But he maintained there were early signs of inflation coming down. For Indian markets, the weakness can...
Market Morning Notes For 7th February 2023
Markets remained under pressure after USDINR suddenly surged by 1% on concerns of the Adani debt issue and partly due to jump in the dollar index as Nifty in USD terms saw a closing lower by 1.5% wiping out Friday gains. After yesterday’s move, the S&P Dollex 30 i.e., Sensex in USD terms which is highly tracked by FII has seen a closing below 200-DMA and is likely to see a further round...
Market Morning Notes For 6th February 2023
Markets for the week ended in the green with Nifty closing higher by 1.5% despite Adani Group selling pressure as Sensex managed to outperform Nifty with a wide margin as Adani Enterprises is not in the Sensex index. The Friday jump led by Bank Nifty provided a necessary breather, but as long as Nifty trades below 18,130 risk of testing 17,000 still remains on the cards. Markets from hereon...
Market Morning Notes For 03rd February 2023
Markets ended mixed on Thursday with Nifty ending with marginal losses while Sensex ended in the green above 59,000. The broader market remained buoyant while Adani Group shares saw extended selling pressure. For the Nifty 50, the outlook remains highly cautious with an immediate decline expected to break below the psychological support of 17000 in the coming days. The Rupee may enter...
Market Morning Notes For 24th January 2023
Markets posted gains on the back of the recovery in global markets with Nifty attempting to sustain 18130 but closing faltered below the same in the last hour trade. With the Dow Jones index moving above 33600, it could be seen as a short-term relief for the global market while in domestic markets, the sharp fall in India VIX below 14% prior to the Union Budget indicates heavy put writing in...
Market Morning Notes For 23rd January 2023
Markets for the week ended with marginal gains to form back-to-back ‘Doji star’ on candlestick as Nifty struggled to sustain above 18130 showing signs of indecisiveness. The lower non-institutional volumes below Rs 20000 crores consistently in the past few days suggests that retail participation has seen a drastic reduction. This poses a risk of major turbulence in the equity markets with...
Market Morning Notes For 20th January 2023
Markets remained under pressure due to a sharp surge in the Japanese Yen with Nifty surrendering below key support of 18130 as trading volumes contracted further. With Dow Jones in JPY terms closing below the key support line, the risk of a larger sell-off is not ruled out in the coming days and this comes at a time when Brent Crude is about to trigger a major breakout above USD 86 a bbl. We...
Market Morning Notes For 19th January 2023
Markets reacted positively on Wednesday after the Bank of Japan decided to keep its yield curve control policy unchanged which forced a sudden spike in USDJPY to 131.5. However, the effect was later neutralized with prices closing below 129 in late night hours of trade. Such wild swings have activated a major breakdown in Dow Jones Index in JPY terms which were trading near the borderline and...