Pre Market Analysis – 24th Sept 2021
Markets rallied worldwide on optimism that the Chinese government will bailout Evergrande developers and U.S Fed’s positive economic outlook. Sharp upmove was seen in financials with Bank Nifty gaining by more than 2%. The Bank nifty has re-attempted a breakout after yesterday’s closing above 37700 and if we are unable to see follow up the rally, we may see another downturn. During bubble...
Pre Market Analysis – 23rd Sep 2021
Nifty ended with marginal losses on Wednesday on back of major selling in Bank Nifty while gains in technology index provided relief for markets. With Fed announcing tapering from next meet and interest rate hike from next year, rupee may come under pressure which has already activated breakout above 73.60 for a potential target of 77. Another important trigger was seen from energy prices...
Pre Market Analysis – 22nd Sep 2021
Markets bounced back sharply on Tuesday after technology stocks helped Nifty to defend crucial support of 17214 and closed above 17550. The breadth of the market remained negative with Bank Nifty underperforming the Nifty Index while USDINR turned flat as Chinese market were shut due to holiday. Today, the U.S Fed policy will be in focus as o the timing of tapering of bond purchases. For the...