Market Morning Notes For 21st October 2022
Markets exhibited resilience on Thursday after critical indices opened lower but managed to post strong closing above 17550 levels despite weakness in broader markets. The Nifty BEES i.e. ETF based on the NIFTY 50 index is confirming a weekly breakout at current levels along with a weekly breakout in the spread of the Nifty 50- Nifty 500 index. This data is a key catalyst for pushing the...
Market Morning Notes For 20th October 2022
Markets cooled off from the day’s high but ended in the positive terrain after USDINR crossed its all-time high to post-closing above the 83 mark. As Sensex Bees i.e. Sensex ETF has managed to post-closing above the breakout line followed by a major reversal in the Nifty 50- Nifty 500 spread, any scope for a gap down opening would be short-lived with an immediate target seen towards the...
Market Morning Notes For 19th October 2022
Markets extended gains to test 17500 on Tuesday with the Nifty 50 outperforming the broader market by a wide margin on the back of major gains from SBI and Reliance Industries. The spread of the Nifty 50- Nifty 500 Index crossed the breakout levels of 2420 convincingly thus opening gates for a major upswing towards 19867 for Nifty 50 Index in the near term. The two-week high for Nifty 50 was...
Market Morning Notes For 18th October 2022
Markets inched higher on Monday on the back of strength emerging from Bank Nifty with Nifty 50 ending convincingly above the key resistance of 17235 while broader markets underperformed. The spread of the Nifty 50- Nifty 500 index moved higher to close at 2407 but fell short of 2420. The breakout in the Nifty 50- Nifty 500 spread has taken more than a year for consolidation and a move...
Market Morning Notes For 17th October
Markets for the week ended with loses of 0.7% after Friday’s recovery failed to extend beyond 17235 while Bank Nifty managed to post weekly closing in the positive terrain. Weekly candles for both Nifty and Bank Nifty were in the green, thus making the formation of a similar bullish side-by-side white line. The key feature of Friday’s upmove was the Nifty 50 index gaining by 1% while broader...
Market Morning Notes For 14th October 2022
Indian markets remained nervous on Thursday ahead of US CPI numbers with the Nifty 50 ending with losses of 0.6% but sustained above the 200 EMA. The initial reaction of US markets when they opened for trading was negative after US CPI numbers came higher than expected. US indices however reversed losses to end higher by more than 2% after the announcement of Fed Swaps price in the peak...
Market Morning Notes For 13th October 2022
Markets rebounded from the support of 200-DMA outperforming most of its global peers to close near the key resistance of 57634 in Sensex. The key breakout levels to watch in the coming days would be 17235 above which, Nifty would be positioned to hit 18800 in a quick span of time. There is a breakout in Axis Bank in USD terms for a 30% upside, which may trigger major buying in Bank Nifty...
Market Morning Notes For 12th October 2022
Markets succumbed to selling pressure on Tuesday on the back of weakness in the global market which forced the Nifty 50 to end below the 17000 mark while Sensex breached the key support of 57634. With yesterday’s decline, the Nifty 50 has moved closer to 200-EMA which is placed at 16902 with a possible attempt of ‘Double bottom’. With the previous week’s closing with a bullish green...
Weekly Market Wrap From 3rd To 7th October
Markets snap 3-week losing streak; Quarterly earnings in focus in the coming week Indian stock market position Equity markets snapped a three-week losing streak and logged modest gains even as volatility remained high. Markets rebounded after witnessing a sharp sell-off in the past couple of weeks as Nifty got supported by a rally in metal, realty, and IT stocks. Global...