Market Morning Notes For 30th August 2022
Markets began on a negative note on Monday following weak global cues and the Nifty tested monthly support around 17158 and then closed above 17300 levels. A major weakness was seen in technology stocks with Nifty IT tanking by more than 3% while broader markets outperformed with Midcap and Small cap index ending with losses of less than 1%. For Nifty, this may be the last reaction of...
Market Morning Notes For 29th August 2022
Markets for the week ended lower with Nifty ending in the red by more than 1% while Bank Nifty closed with marginal gains. For Nifty, the decline should be treated as a retracement after a major run-up as indices gather strength for setting significant higher targets in the month of September. The monthly chart for August will still depict bullish picture as long it sustains above 17158....
Weekly Market Report For 22nd to 26th August
Weekly Market Wrap Markets extend gains, FIIs flows and earnings are in focus this week Investors focused on the Federal Reserve’s Jackson Hole conference for clues about the central bank’s policy outlook in the week gone by. The Federal Reserve raised rates by three-quarters-of-a-percentage point in June and July. Its next policy meeting is in September, and it is...
Market Morning Notes For 26th August 2022
Nifty reacted sharply in the last hour of trade on Thursday from 17700 after domestic call writers exerted pressure to force Nifty expiry around 17500. This may turn out to be the last attempt by bears to suppress the market. We expect major support for the market emerging from put writing at current levels and that should be confirmed with a sharp decline in India VIX in days to come....
Market Morning Notes For 25th August 2022
Markets ended with marginal gains despite severe pressure from call option writers during the expiry week. In fact, since 17th Aug hyperactivity was seen 17500 Call option where most market participants were seen heavily shorting it with an average price of 115, and open interest also swung from 10 lakh to all the way till 60 lakh. This would mean we can expect major short covering after...
Market Morning Notes For 24th August 2022
Markets made a sharp reversal on Tuesday as the gap down failed to force Nifty futures below VWAP support of 17250 and was followed by a convincing close above 17500 in the Nifty 50 Index. Major gains were seen from Bank Nifty which ended with a reversal pattern of ‘Bullish engulfing line’ on daily basis. We expect markets to remain volatile today on account of the derivative contract...
Market Morning Notes For 23rd August 2022
Markets extended weakness on Monday on the back of carnage in global markets as investors turned cautious ahead of the Jackson hole meeting scheduled on 26th Aug where the U.S. Fed speech could re-focus on inflation trajectory and global central banks on policy stance. The Nifty 50 ended below 17500 mark mainly on the back of domestic selling. Watch out for 58780 in Sensex very closely as...
Market Morning Notes For 22nd August 2022
Markets last week took a breather with Nifty 50 closing below the earlier weekly breakout line placed at 17775, leading to ‘Doji star’ on the weekly candlestick chart. Nifty 50 has given a decent rise in the recent past as it is now nearing closer to 18,000 landmarks which is also a psychological resistance barrier that everyone would be focussed on. Oil fell at the start of the week as...
Weekly Market Report 16th to 19th August
Markets extend gains, FIIs flows and earnings are in focus this week Weekly Market Review Markets this week just stopped shy of their previous swing highs. Nifty touched a high of 17992 and tried to close above its previous swing high of 18000 (April 22) while Bank Nifty just crossed its April ’22 swing high of 38750 but found stiff resistance at a higher level and closed at 38986....