Market Morning Notes For 23rd June 2022
Markets remained under pressure on Wednesday after the Nifty failed to close above the key hurdle of 15683 and was followed by a decline of 1.5%. Though, the market is missing confidence in the up move, broader market like the Nifty 100 Equal weighted Index has already thrown up signs of a major bottom. Recently Nifty 100 Equal Weighted index has tested the lower end of the falling...
Market Morning Notes For 22nd June 2022
Markets has confirmed major reversal on Tuesday after key indices rallied nearly 2% with India VIX closing below 22%. The India VIX has completed phase of Running Triangle and is poised for a major breakdown in days to come. The implication of India VIX fall indicates heavy put writing in the coming days and this should eventually force Nifty to new highs. The support line of triangle is...
How To Determine Your Residential Status?
It is important for the Income Tax Department to determine the residential status of a tax-paying individual or company. It becomes particularly relevant during the tax filing season. In fact, this is one of the factors based on which a person’s taxability is decided. Let us explore the residential status and taxability in detail. Meaning & importance of residential status: The...
Market Morning Notes For 21 June 2022
Yesterday, the Nifty gained nearly half percent but the Nifty 500 stocks advance-decline ratio was 1:3. Metal index declined sharply. On the charts, the formation of the bullish flag in the spread of the Nifty 50-Nifty 500 Index and breakout in the ratio of Bank Nifty to Nifty 50 hints at a major 10-15% upswing in the coming days. We expect the market to open on a positive note on account...
Market Morning Notes For 20th June 2022
Markets declined over 5% last week after U.S. Fed hiked key rates by 75 bps and hinted 50 bps rate hike in the month of July. The main draggers for markets were metals and technology sectors which have convincingly broken March 2022 lows while Bank Nifty was still able to sustain above March 2022 lows. With the prevalence of RSI positive divergence for both Nifty and Bank Nifty, markets...
Market Morning Notes For 17th June 2022
The market ended sharply lower with key indices losing over 2% on the back of a 75 bps rate hike by Fed. In initial hours, the Nifty opened higher around 15849 but due to pressure from metals and technology stocks selling was spread across the counter with the Metal index down more than 5% while the technology index fell more than 3%. After yesterday’s decline, Nifty has breached March...
Opportunities In Debt Market
Given the current economic sentiments, with rising inflation and recessionary pressure faced by developed economies, India has been affected as well. The recent repo rate hikes by the RBI are a further measure taken by the GOI to curb inflation. However, as the repo rates are increased, there are still opportunities available in the markets aplenty. One such opportunity lies in the Debt...
Oil prices are at a 13-week high, What next?
Oil prices are back with a vengeance after a brief drop below USD 100 a barrel and are now currently above USD 120 a barrel. In fact, oil prices have jumped to a 13-week high as demand from the U.S. is rising while expectations that China’s oil demand will increase amidst growing supply concerns in several countries, including Iran. However, there is a growing expectation...
Market Morning Notes For 16th June 2022
The market surrendered opening gains to finally end in negative terrain but the breadth of the market remained positive. Nifty Bank also closed in the green. With Fed raising rates by 75 bps to curb 40-yr high inflation, this is expected to have a major impact on technology and commodity sectors, which may go through a deep underperformance. So far as markets are concerned, it had...