Market Morning Notes for 21st November 2022
Markets for the week ended with marginal losses after failing to cross the key hurdle of 18513 with Nifty futures closing below the key support of 18370. In the past few days due to selling in B-group stocks the Nifty 50 Index has managed to show sharp outperformance compared to the Nifty 500 Index forcing the spread of the Nifty 50- Nifty 500 index to approach the weekly resistance mark....
Market Morning Notes for 18th November 2022
Markets witnessed broad-based selling pressure on Thursday with Nifty futures ending below key support of 18370 in the last hour of trade on the back of weakness in global markets. The rising USDINR may trigger further selling for Nifty in the coming days and only relief may come if the Nifty spot is able to cross above 18513. Today being a weekly close, any close below 18250 should be seen...
Market Morning Notes For 17th November 2022
Markets ended unchanged on Wednesday while the Midcap and Small cap segment continue to witness selling pressure with breadth turning negative. The gains in Bank Nifty helped Nifty to end in marginally favorable terrain while India’s VIX surge managed to cross the 15% mark. For the entire market, the system’s risk remains elevated as long as Nifty 50 trades below 18513 levels with...
Market Morning Notes For 16th November
Markets rallied in the last hour of trade to post-closing above 18400 on the expectation that some compromise may emerge from the Ukraine-Russia war as global leaders attend the G20 meet. Nifty 50 has been stuck in trading of 18025-18513 for the past few weeks but unless 18513 is not taken out, the risk of a sudden jerk towards 14700 cannot be ruled out. The Dow Jones index is also...
Market Morning Notes For 15th November
The market activity turned laggard on Monday with the Nifty 50 failing to cross the key hurdle of 18513 after USDINR bounced back sharply to close above 81 levels. With the formation of ‘Hanging Man’ on the previous week’s setup, we expect the current weak movement to turn decisive with either movement above 18513 or breakdown below 18025. The key trigger to watch for globally would be...
Market Morning Notes For 14th November
Markets posted gains of around +1% for the week on the back of a surge in global markets mainly due to China re-opening news with the Nifty 50 inching a step closer to negating the critical hurdle of 18513. On a weekly basis, Nifty 50 has formed ‘Hanging Man’ pattern which often is seen as a major trend reversal, and the only way strength can emerge is when prices trade above the ‘Hanging...
Market Morning Notes 11th November 2022
Markets ended lower on the back of broad-based selling but Nifty 50 managed to hold closing above crucial support placed at 18025 ahead of key U.S. CPI numbers. The U.S. CPI numbers which came in yesterday evening were well below estimates thus revoking fears of further rate hikes. The global markets have taken this development positively with the U.S indices closing higher by 4%. Indian...
Market Morning Notes For 10th November 2022
Markets failed to carry momentum beyond 18300 on Wednesday despite higher opening and were followed by closing in the negative terrain with breadth turning unfavorable. After the recent upmove, the Nifty 50 Index remains under major risk with a potential downside of 14700, if it is unable to clear the critical hurdle of 18513. The daily RSI has been showing negative divergence and a...
Market Morning Notes For 04th November 2022
Market activity remained laggard on Thursday with Nifty 50 ending in marginal negative terrain to hold firmly above 18000 levels. The levels of 18513 still pose a major risk for markets as the current rebound has been led by non-technology stocks within the Nifty 50 Index. In case we plot, the data of the Nifty 50 Index ex-IT, it clearly shows the formation of the rising wedge which construes...