Market Morning Notes For 24th March 2023
Markets ended lower after a failed attempt to surpass 17,156 in Nifty, mainly on the back of selling in financial stocks. The sharp drop in USDINR led the Dollex 30 index i.e. Sensex in USD terms to end on a flat note, thus implying overall strength in the market. With India VIX on the verge of triggering a major breakdown below 14.30, we expect Indian markets to gain momentum on the cross...
Market Morning Notes For 23rd March 2023
Market activity remained laggard on Wednesday ahead of the crucial Fed meet and merging of settlement which led to Nifty inching marginally higher but failing to cross 17156. The Fed raised key rates by another 25 bps, however, the commentary suggested some additional policy firming. However, it is the comment from Treasury Secy Yellen that spooked the markets- she says not considering a...
Market Morning Notes For 22nd March 2023
Markets managed to end at the highest point of the day after an initial gap-up opening on Tuesday but failed to cross the crucial hurdle of 17156 in Nifty Index. The high of the bullish hammer appearing on Monday’s trading session was taken out on a closing basis, thus putting more firepower for bulls to trade higher for the next few days and more leg of buying is likely to emerge once Nifty...
Weekly Market Report From 13th to 17th Mar 2023
Markets fall on global cues; US Fed meeting in focus in the coming week. Benchmark indices witnessed a sharp sell-off during the week and the Nifty slipped below the 17,000 level for the first time in over five months, taking cues from weak global markets. The turmoil in the US banking space with the failure of Silicon Valley Bank (SVB) and the closure of New York-based Signature Bank...
Market Morning Notes For 20th March 2023
Markets last week remained under pressure but recovery on Friday trading session helped key indices to trim losses to less than 2%. The BSE Sensex has formed a typical bullish expanding triangle which has added significant confusion due to higher high and lower low and has recently tested the long-term breakout line or neckline of head & shoulder bottom. With broader markets showing...
Market Morning Notes For 17th March 2023
Markets exhibited signs of strength as the broader index namely the Nifty 50 equal weighted Index failed to trigger a closing below the support line, thus helping the Nifty 50 to end in the marginal positive terrain. The Sensex has tested the lower end of the bullish expanding triangle and hence we may witness a major trend reversal on Sensex closing above 57,630 in today’s trading...
Market Morning Notes For 16th March 2023
Markets made one more attempt to cross 17,205 on Wednesday but the last hour of selling forced Nifty to settle below 17,000. Currently, the broader markets have seen a good amount of strength, but large stocks are unable to post-recovery. The Nifty 50 Equal weighted Index also indicates the completion of a falling wedge setup and suggests that broader markets are poised for a major recovery....
Market Morning Notes For 14th March 2023
Markets witnessed a sharp turnaround on Monday, as a higher opening of 100 points was followed by a sharp decline to breach an intermediate low of 17,255 and settled below 17,200 in the Nifty 50. The selling pressure was mainly felt in the financial sector with Nifty Bank ending lower by more than 2% as a contagion of two failed U.S. banks impacted most of the small and mid-size banks in...
Weekly Market Report From 06th to 10th Mar 2023
Nifty slips on hawkish Fed; Global cues will be in focus in the coming week Indian markets stayed in correction mode on weak global cues as investors turned cautious ahead of the crucial jobs report later in the week. Markets were once again worried about sharper rate hikes after Fed Chair Powell hinted at a higher peak rate which triggered a large dollar rally. Global markets were also...