Market Morning Notes 13th June 2022
The market ended lower for the week amidst turmoil in global equity markets as central banks resorted to liquidity tightening amidst sky-rocketing inflation and higher commodity prices. Nifty declined by 2.5% while broader markets outperformed as weekly closing in Nifty was well above crucial support of 16123. The current week would also be challenging for Nifty as a larger setup...
Market Morning Notes For 10th June 2022
Markets rallied on Thursday to end with gains of 0.8% but the Nifty 50 Index outperformed broader indices like the Nifty 500 with a wide margin to close near 16500. Although Nifty IT rallied around 1% yesterday but sectors that are vulnerable to major downtrend are Metals and Technology and hence any up move in them may remain short-lived. With rising inflation concerns, the...
Market Morning Notes For 9th June 2022
Markets ended in the negative terrain after RBI raised rated by 50 bps as per market expectations. It has dropped the phrase “remain accommodative” from the stance and changed to focus on withdrawal of accommodation, signaling that the MPC sees the policy rate close to the pre-pandemic level. Broad-based selling was seen in midcap and small cap segment stocks while the Nifty 50...
Market Morning Notes 8th June 2022
Markets remained lackluster throughout the trading session on Tuesday mainly on the back of the NSE technical glitch as a lot of F&O stock prices were not refreshing. The analysis of fund flows clearly points out a shift in focus from broader markets to Nifty 50 & Bank Nifty and they are expected to be the key drivers in the next leg of up move. In fact, both Nifty and Bank...
Market Morning Notes For 7th June 2022
Markets opened lower on Monday on the back of weak global cues but late recovery in the financial sector and metal sector helped the Nifty to recoup most of its losses and ended on a flat note. The lackluster movement in Nifty is a clear sign that big accumulation is going on in the Nifty 50 basket and the next up move could be quite sharp and could trigger a 2000-2500 points rally. The...
Market Morning Notes For 6th June 2022
Markets for the week ended on a positive note with the Nifty gaining by 1.5% while the broader market struggled. There has been a clear diversion taking place from the Nifty 500 Index to the Nifty 50 index and that is why the spread of the Nifty 50 and Nifty 500 Index ended with gains of +50pts on the Friday session. With the formation of a bullish flag pattern in the spread of...
Market Morning Notes For 3rd June 2022
Markets confirmed a major blowout on Thursday after the Nifty ended above the key hurdle of 16600 on a closing basis. This breakout may fuel a 2500-3000 pts rally in the near term, as the spread of the Nifty 50 & Nifty 500 Index is likely to activate a flag breakout. A similar upsurge in the spread of the Nifty 50 & Nifty 500 Index was witnessed at end of July 2021, which led to a...
Market Morning Notes For 2nd June 2022
Markets continued to remain under pressure mainly on the back of weakness in technology and commodities stocks with funds being redistributed to financials, auto, FMCG, and engineering sectors. The ratio of Bank Nifty to Nifty Service Sector Index has shown a clear turnaround from the downtrend indicating more diversion of flows towards the financial sector while the Nifty Commodities...
Market Morning Notes For 1st June 2022
Markets on monthly basis ended with losses of 3% but late recovery during the month above 16,500 in Nifty has reinforced a positive trend in the near term. On the monthly candlestick chart, Nifty has formed ‘Long lower shadow’ pattern. The long lower shadow candlestick is a technical indicator that is used by traders to identify a reversal in the market trends. The pattern features a...