Market Morning Notes For 16th September 2022
Markets remained under pressure on Thursday on the back of weakness in technology stocks with the Nifty ending lower below 17900 as Bank Nifty retracted after hitting lifetime highs. The current setup in Sensex post 19 August has emerged in a bullish ascending triangle and this would mean the market has gathered enough firepower to hit 19000 levels in Nifty in the coming days. Yesterday’s...
Market Morning Notes For 15th September 2022
Markets bucked the global trend yesterday with Nifty 50 positing a sharp recovery from lows of 17771 forming a ‘Bullish Piercing line ‘pattern setup while Bank Nifty ended with decent gains of 1.3% forming a ‘Bullish Belt Hold Line’ pattern on the candlestick chart. The weekly breakout for the Nifty 50 Index which was confirmed last Friday has acted as a major catalyst for a sustainable...
Market Morning Notes For 14th September 2022
Markets extended gains on Tuesday with the Nifty closing well above the 18000 mark while broader markets underperformed. The consistent FII buying in the past few days has created a solid cushion for Indian markets which may force Indian markets towards an all-time high in the coming days. In event of hiccups, like today’s trading session where Indian indices may open a gap down on the...
Market Morning Notes For 13th September 2022
Markets began on a positive note on Monday with the Nifty 50 attempting to cross-resistance of 18000 but failed to close the above same. The ratio of Nifty 50 to Crude may act as a crucial trigger for Indian markets in the near term and force FIIs to realign their incremental investments in Indian Equities. We expect major short covering above 18000 with an expectation of Nifty taking out...
Market Morning Notes For 12th September 2022
Markets for the week posted smart gains with Nifty 50 convincingly closing above the weekly breakout line while Bank Nifty ended higher by almost 3% to close above the 40,000 mark. The weekly breakout above 17,800 followed by India VIX closing below the 18% mark is likely to add further momentum to the Indian markets with the expectation of a new all-time high in the coming weeks. Adding...
Market Morning Notes For 9th September 2022
Markets surged on Thursday to close at the highest point of the day on the back of FII buying with Nifty activating the ‘Rising Three Method’ breakout while Bank Nifty gained 2% to close comfortably above the 40000 mark. After yesterday’s up move, the Nifty 50 Index has re-entered above the breakout line with upside potential seen at 19867. We expect aggressive buying from FIIs in the...
Market Morning Notes For 8th September 2022
Markets remained ranged bound on Wednesday with the Nifty opening lower but recovered during later half of the trading session to close above 17600. The breadth of the market remained highly positive despite the Nifty facing resistance at 17650 in yesterday’s trade. The dull trading activity in the Nifty 50 index is seen as a sign of accumulation and we expect the Nifty to see a sharp...
Market Morning Notes For 7th September 2022
Markets remained more or less unchanged after the initial up move failed to cross the previous week’s high of 17,764 while Bank Nifty ended in negative terrain after crossing the 40,000 mark. The key trigger to watch out for would be the ECB policy meet tomorrow where the expectation of a Jumbo rate hike of 75 bps has been built in due to hyperinflation in Eurozone. For the Indian...
Market Morning Notes For 6th September 2022
Markets ended higher on Monday on the back of broad-based buying with Bank Nifty surpassing its August highs of 39,759 and activating a major breakout. The breakout in Bank Nifty may act as a catalyst for Nifty crossing its all-time high in the current week with major short covering expected in the Nifty 50 Index above 17,777. On an immediate basis, the Target for Bank Nifty is placed at...