Market Morning Notes For 06th April 2023
Markets posted smart gains on Wednesday where Nifty and Sensex rallied by nearly a percent while Midcap Indices ended in the red. After yesterday’s gains, Nifty has cemented its position above 50 & 200 DMA, thus providing more comfort to the bulls. With Nifty 50 surpassing the 17500 level, we expect short covering to force Nifty towards 18652 in the next few days. RBI keeps repo rates...
Market Morning Notes For 05th April 2023
Markets began on a positive note in the April series, but gains were muted as Nifty faced the psychological hurdle of 17500. After Monday’s closing, the Nifty 50 activated a falling wedge breakout which was also corroborated by positive divergence in RSI and RSI breakout. This combination is seen as a crucial trigger for the return of buying momentum with an immediate target seen at 18652 in...
Weekly Market Report From 27th to 31st Mar 2023
Markets recover on global cues; RBI Policy in focus this week Markets recovered after three weeks of decline as global cues remained positive and flight to risky assets increased as investors chased riskier assets on calming concerns of systemic risk in the US banking system. For the week, the Nifty ended higher by 2.4 pct to 17,360 levels. Nifty Midcap 100 and Nifty Smallcap 100 gained...
Market Morning Notes For 29th March 2023
The market witnessed listless trading activity with Nifty forming a lower high and higher low setup after a Doji star on the previous day. This setup indicates that breakout would now be activated on a move above 17,060 for an immediate reaction towards 17,500. The last few days of the financial year end are seen as portfolios realigning towards low volatility stocks and hence, we can expect...
Market Morning Notes For 28th March 2023
Market activity on Monday turned range bound between 16900-17100 after an initial gap-up opening. But late selling in midcap and small-cap counters forced Nifty to end with marginal gains and formed an indecisive signal of Doji Star. The announcement of Russia planning to put nuclear weapons in Belarus acted major dampener in recovery in the global market. The movement in S&P...
Weekly Market Report From 20th to 24th Mar 2023
Caution prevails; Global cues in focus this week Volatility was high last week on subdued global market sentiments as fears of contagion in the global banking sector weighed. Cautiousness also prevailed after the government hiked securities transaction tax (STT) on futures & options contracts. Globally, the US Fed increased the rate as was widely expected by 25 bps to 4.75-5 pct. The...
Market Morning Notes For 27th March 2023
Nifty last week tried to defend support of 16800 and managed to restrain weekly losses to less than 1%. Such capitulation was possibly mainly on the back of a rebound from S&P Dollex 30 i.e., Sensex in USD terms which was able to firmly hold the neckline of the inverted Head & Shoulders pattern which was bullishly activated in the month of Nov 2022. This breakout failed to carry...
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...