Pre Market Analysis – 16th Jul 2021.
Markets rallied on Thursday to close above 15,900 in Nifty after the U.S Federal Reserve testified that the central bank was is no hurry to pare purchase of stimulus which are currently running at $120 bn monthly. The global markets cues helped Nifty to surpass the trading range of 15,620-15,900 which was prevailing since last one month. However on daily basis, Nifty has oscillated in the...
Pre Market Analysis – 15th Jul 2021
Nifty extended its gains for three straight days but Wednesday rally was mainly contributed by Nifty IT index which was up 3% ahead of Infosys results. With USDINR gaining strength and Nifty remaining stuck in the range of 15620-15900, we may witness sharp fall in market in the coming days. Last one-month activity is narrow range and is a sign of distribution and wider cracks as USDINR...
Pre Market Analysis – 14th Jul 2021
Stock Market rallied on support from financials on Tuesday as domestic inflation data came below consensus with Bank Nifty closing higher by more than 1% above 35,500. Although Nifty also posted gains of more than 100 pts, it still remains vulnerable to larger sell-off as long it trades in range of 15,620-15,900 with 15,620 acting as a trigger point. With Brent crude prices firmly back above...
Pre Market Analysis – 12th Jul 2021
Nifty for the week remained under pressure but broader market remained strong with Midcap 100 index posting gains of almost 2% on back of retail buying. The FIIs were sellers in cash and derivative segment which put pressure on large cap stocks while USDINR was putting a tough fight around resistance area of 74.86. With Nifty stuck in the trading range of 15,620-15,900, we can expect massive...
Weekly Market Research by Fintoo – 10th July 2021
#uid-df281d0a011f72a6 .heading h2 { line-height: 1.6em; font-weight: 400; } Nifty turns weak, global cues dents sentiments. Zomato IPO key event to watch out in coming week Markets continued to remain under pressure led by pessimistic global market cues with volatile movement seen across sectors. The Nifty ended tad below the 15.700 mark, down 0.2 pct for the week. Volatility...
Pre Market Analysis – 9th Jul 2021
Indian equities were caught in the global volatility as growing anxiety that the spread of Covid-19 variants will knock back growth reversed the recent rally. With fresh virus waves hitting Asian and European countries, global bankers seem unconvinced about a smooth economic recovery. The SGX Nifty is indicating another weak opening for the markets. Wall Street closed lower on Thursday,...
Pre Market Analysis – 8th July 2021
Market activity remained restricted in the trading range of 15780-15900 on Wednesday to finally end in positive terrain while Bank Nifty moved closer to its recent high of 35810. There was lack of momentum in large cap stock with 16000 acting as a major resistance. The Nifty G-Sec 10 yr index showed some rebound ahead of Fed minutes but with USDINR crossing above 75.80 in the international...
Pre Market Analysis – 7th July 2021
Nifty witness sharp reversal from highs of 15900 and ended in the red after India 10-year bond prices suddenly fell more than 0.5% to close at day’s low. The sharp sell-off in bond prices also had an impact on Rupee with USDINR ending above 74.50 and is now positioned to cross 76 in the next few days. For Nifty, the two- weeks of trading range may see major breakdown below 15,620 on a...
Pre Market Analysis – 6th Jul 2021
Nifty continued its pullback from Friday and ended above 15800 but below the resistance of 15850. Absence of global cues allowed the market to remain rangebound. Nifty rallied by 100 points after it took support at convergence point of 10 DMA and 20 DMA which was placed 15750 led by gains in banking stocks. However, the larger picture still depicts that Nifty is stuck in a broader range of...