Market Morning Notes For 17th January 2023
Markets ended lower on Monday after an initial attempt to sustain above 18000 levels in Nifty met with failure led by weakness in Banking stocks. The continuous selling from FII of more than Rs 23000 crores in cash plus the F&O segment is sending nervous signals for the market and a close below 59952 in Sensex could trigger basket selling for a broader market. At the current juncture,...
Market Morning Notes For 12th January 2023
Markets ended on a flat note on Wednesday despite selling pressure in the early hours of trade and gains in Bank Nifty helped key indices to trim their losses. The non-institutional volume continues to edge lower below Rs 19000 crores as liquidity from retail participants dries up. The FII selling has intensified in the past few days and DIIs are only putting up a fight to absorb their...
Market Morning Notes For 11th January 2023
Markets ended sharply lower on the back of renewed selling in service sector-related stocks with Bank Nifty feeling the major brunt and closing below the key support of 42339. The main factor which may trigger a large-scale meltdown is diminishing support from non-institutional participants which even in yesterday’s trading remained around Rs 20000 crores. For Sensex, the major level is...
Market Morning Notes For 10th January 2023
Markets rebounded sharply on Monday on the back of gains from the technology index with Nifty ending higher by 1.4% but failed to close above the monthly resistance line of 18130. The rally was led mainly on the back of short covering by FIIs in the derivatives segment as there was an expectation that Fed would tone down its hawkish stance on rate hikes in a meeting to be held in Stockholm...
Market Morning Notes For 09th January 2023
Markets last week ended with losses of around 1.5% but violated key support of 59754 in Sensex which turned out to be the lower shadow of the ‘Bearish Engulfing Line’ on a monthly basis. Such price action along with a sharp drop in retail volume towards Rs 25000 cr and sustained closing below 50 DMA are indications of an upcoming severe downtrend in the Indian markets. The FII selling...
Market Morning Notes For 06th January 2023
Markets remained under pressure on Thursday but managed to recoup part of losses to settle around 18000 levels. The non-institutional turnover has shrunk to a 6-month low yesterday to Rs 24000 crores which signifies that the defenses of the Indian stock market may soon be broken. The larger setup points towards a 20% decline in the near term and ideally the turnover should further...
Market Morning Notes For 05th January 2023
Markets witnessed major selling pressure on Wednesday with most of the key indices declining around 1% ahead of Fed minutes despite global equities turning unchanged. The Fed minutes stated that Fed officials’ intent on lowering inflation back towards their 2% target is at risk of rising unemployment and slow growth. The FIIs suddenly dumped around Rs 7300 crores (Cash + Futures) after...
Market Morning Notes For 02nd January 2023
Markets for the month of December settled below key support of 18130 thus confirming the ‘bearish engulfing line’ on the monthly chart after a sharp selloff in the last hour of trade on Friday. The selling pressure was mainly seen due to sharp appreciation in JPY which poses the risk of a major meltdown in Indian markets. With USDJPY declining further to 131 and MSCI India Net USD...
Market Morning Notes For 30th December 2022
Markets rallied on low volumes to regain its control above the key support of 18130 as we approach the monthly closing. The gains were mainly on the back of a rally in Nifty Bank but the broader market lacked strength at higher levels. One key reason for the recovery in the market was on the back of minor weakness in JPY where USDJPY rebounded from 131 to 134 however after yesterday’s...