Pre Market Analysis– 2nd Jul 2021
Markets ended in the red for the fourth consecutive trading session but failed to close below crucial support of 15,620 despite pressure in rupee. The volume activity was well below average as large cap stocks missed sense of direction and selling was visible around 15800 in Nifty. With Nifty Bank closing below 34,900 for the second consecutive trading session, aggressive selling is expected...
Pre Market Analysis – 1st Jul 2021
Market continues to remain under pressure led by selling from financials as Nifty gave away its opening gains and closed in the negative terrain. The monthly breakout in USDINR above 74 may act as a warning for bond and equity markets and move below 15,630 may trigger aggressive selling by FIIs. For month of June, FIIs have turned net sellers to tune of 7000 cr in cash and futures after...
Pre Market Analysis – 30th June 2021
Market extended weakness on Tuesday as Nifty failed to cross the resistance of 15900 and closed around 15750. So far market is stuck in trading range of 15620-15900 since past few weeks and today being monthly closing, we may see strong confirmation of breakout in USDINR on a close above 73.86. This breakout in USDINR should trigger follow up buying in USDINR which may force sharp upward...
Pre Market Analysis – 29th June 2021
Benchmark indices remained under pressure on Monday, however the midcap and small cap indices managed to outperform despite Nifty closing in the red. The volume activity in the past few days have been shrinking 20% below average and this may provide an early warning signal before broad-based selling in the markets. The key trigger for market in the next few days may come from movement in...
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Pre Market Analysis – 28th June 2021
Market gained 1% for the week on back of Biden supporting another stimulus in form of USD 1 Trillion infrastructure plain which led to Nasdaq rallying 2.3% in last week. However, despite such positive news, Nasdaq 100 ended in negative on Friday to form a ‘Bearish Engulfing’ pattern on daily chart as it moved into upthrust of rising wedge. The strength in USDINR has already brought...
Pre Market Analysis – 25th June 2021
Indian Market View Market remained range bound on Thursday with Nifty facing resistance at 15900 while volumes remained on lower side on spot markets despite monthly derivatives expiry. Nifty is unable to put up significant gains in the past few days due to breakout in USDINR above 73.86 and we may see sharp reversal in markets if USDINR crosses the 74.35 mark. Bank Nifty is facing...
Pre Market Analysis – 24th June 2021
Indian Market View: Nifty index opened positive but failed to even hold its opening levels and after a volatile swing it drifted towards 15673 levels. It has been finding sustained selling pressure near to its life time high of 15850-15900 zones from last few trading sessions. It closed with losses of around 85 points. Nifty has been battling with resistance of 15850-15900 in the past few...
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