Market Morning Notes For 02nd November 2022
Markets for the month of November began on a positive note with the Nifty 50 Index closing well above the 8-month high followed by confirmation of the ‘Monthly Breakout’. The breakout setup has clearly opened the gateway towards 19867 but with one important ‘Caveat’. It becomes necessary from now onwards that Nifty 50 clears the hurdle of 18513 in the next few days else there is a 10%...
Market Morning Notes For 31st October 2022
Nifty 50 last week ended with gains of more than 1% which may sound insignificant, but detailed descriptions indicate that the market has laid the foundation for ‘Big Fat’ by posting the weekly closing above the 17780 mark. The daily spread of the Nifty 50- Nifty 500 Index has seen a convincing breakout above the 2515 mark which may act as an important landmark for a start of a large...
Market Morning Notes For 14th October 2022
Indian markets remained nervous on Thursday ahead of US CPI numbers with the Nifty 50 ending with losses of 0.6% but sustained above the 200 EMA. The initial reaction of US markets when they opened for trading was negative after US CPI numbers came higher than expected. US indices however reversed losses to end higher by more than 2% after the announcement of Fed Swaps price in the peak...
Market Morning Notes For 13th October 2022
Markets rebounded from the support of 200-DMA outperforming most of its global peers to close near the key resistance of 57634 in Sensex. The key breakout levels to watch in the coming days would be 17235 above which, Nifty would be positioned to hit 18800 in a quick span of time. There is a breakout in Axis Bank in USD terms for a 30% upside, which may trigger major buying in Bank Nifty...
Market Morning Notes For 12th October 2022
Markets succumbed to selling pressure on Tuesday on the back of weakness in the global market which forced the Nifty 50 to end below the 17000 mark while Sensex breached the key support of 57634. With yesterday’s decline, the Nifty 50 has moved closer to 200-EMA which is placed at 16902 with a possible attempt of ‘Double bottom’. With the previous week’s closing with a bullish green...
Market Morning Notes For 11th October 2022
Markets recovered from lows on Monday to finally close with losses of less than 0.5% on the back of gains in technology stocks with Sensex closing above the key resistance of 57634. The current setup of bullish ‘Broadening Descending Wedge’ in SGX Nifty clearly marks the accumulation phase and we expect a major upswing towards 18800 on a move above 17360. Adding to it, US markets have...
Market Morning Notes For 10th October 2022
Markets last week ended with gains of over 1% after Sensex was able to close above the key resistance of 57634 despite pressure in the rupee where USDINR closed above 82.50 on the international exchanges. The current setup in SGX Nifty clearly indicates the formation of a ‘Broadening Descending Wedge’, which is highly bullish, and post-breakout above 17370, prices are likely to see a sharp...
Market Morning Notes For 7th October 2022
Markets opened with a gap-up yesterday but failed to sustain the positive momentum and closed with little gains as volatility emerged ahead of the weekly expiry day. Overall market breadth remained bullish, where 1,620 stocks advanced against 681 declined stocks. The 8-Bar reversal has activated a major reversal from the downtrend and the appearance of a breakout in the spread of the Nifty...
Market Morning Notes For 6th October 2022
Markets opened with a gap-up on Tuesday and rallied higher to close more than 2% with Bank Nifty outperforming by a wide margin and closing above the 39.000 mark. The 8-Bar reversal has activated a major reversal from the downtrend and the appearance of a breakout in the spread of the Nifty 50- Nifty500 Index, the gains in large-cap stocks are expected to accelerate further. The bullish...