Pre Market Analysis – 16th Nov 2021
Markets ended on a flat note even after Nifty’s initial efforts to surpass 18200 while breadth remained negative with major pressure seen from the metal index. For Nifty, the crucial support is seen at 18034 below which, markets are expected to see major unwinding. Currently, MSCI India ETF has also thrown up diamond top pattern which has led to range bound activity and a breakdown is placed...
Pre Market Analysis – 11th Nov 2021
Market activity remained range bound on Wednesday after initial gap down opening below 18034 but late rebound in non-financial stocks forced Nifty to settle above 18000 levels but could not close above 18034 mark. Below 18034, Nifty is most likely to attempt the lower end of expanding wedge which is placed at 17895 and below which we may see a lower range towards 16500. On the international...
Pre Market Analysis – 27th Sept 2021
The market for the week ended higher by 1.5% on contribution from the Nifty IT index while Bank Nifty struggled to cross 38000. With Brent crude at a 52-week high, it is well-positioned to hit USD 90 anytime soon and the first downward reaction can occur in financials and interest-rate sensitivity. For the coming week, we can expect volatility to continue as Indian markets have entered into...
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 – 14th Sep 2021
Markets recouped its opening losses on Monday after gains from IT & Metals stocks while Bank Nifty ended lower by 0.6% and Nifty ended above 17350. After yesterday up move, both Brent crude and Natural Gas prices have activated short term breakout, thus opening scope for 10-15% upside in near term. We can expect financials to underperform due to such breakout while Nifty may turn see wild...