Market Morning Notes For 16th May 2022
Markets for the week remained under pressure with the Nifty closing lower by almost 4% while high beta sectors like Metals and Energy declined by more than 10% putting pressure on the broader markets. However, at the current juncture, the Nifty 50 equal-weighted index has completed the setup of ‘Bullish Flag’ after weekly closing near the support zone, and the market may see...
Market Morning Notes For 13th May 2022
Markets witnessed intense selling after the sell-off in global markets forced the Nifty to breach key turnaround support of 16123 to end near 15800 closer to March 2022 lows. With the recent decline, the Nifty 50 Equal Weight index has thrown up a ‘Bullish Flag’ setup with an upside potential of 20%. We thus expect the Nifty 50 to trigger a major reversal on close above...
Market Morning Notes For 12th May 2022
Markets continued to feel the heat of broad-based selling while Nifty & Bank Nifty remained more or less resilient to weakness in the broader markets. In fact, Bank Nifty has managed to post gains for the second straight trading session despite the carnage in global equities while the technology and metal sectors have been taking a major beating in the past few days. For Nifty,...
Market Morning Notes For 11th May 2022
Markets witnessed a major shake-out on Tuesday with high beta sectors like metals, small caps, and energy declining by more than 2% with the Nifty Metal Index taking a major hit of more than 5% while Bank Nifty ended with modest gains. This phase of sectoral rotation would force funds to move out from the non-financial segment back to the financial sector forcing the Nifty to rally...
Market Morning Notes For 10th May 2022
Markets remained under pressure but rebounding from 16150 helped the Nifty to recoup losses to finally end above 16300 levels while broader markets underperformed with the breadth of the market deteriorating to 3:10. We expect Nifty to bottom out around 16123 and resume its upward journey in the coming days with a rally more specific to large-cap counters. The rupee breached...
Morning Notes For 09th May 2022
Markets remained under pressure last week on the back Fed rate hike by 50 bps along with RBI’s surprise policy action. The Nifty violated key support of 16671 on back intensifying selling pressure in the broader market and LIC IPO sucking out liquidity from the system. Below 16671, the ideal reversal zone for Nifty is placed at 16123 where the market may hit rock bottom and...
Pre-Market Analysis for 6th May 2022
Markets cooled off from day’s high to end on a flat note yesterday forming an inside bar pattern on a daily candlestick chart. An inside bar often occurs ahead of the intermediate bottom hence we can expect a major turnaround in the market in the next 2-to 3 sessions. The India VIX also cooled from the resistance of 22% mark to end with losses of 8%. For the market to see a...
Pre-Market Analysis for 05th May 2022
Markets reacted sharply on the downside to the surprise 40 bps hike in repo rate and 50 bps hike in CRR by the RBI in a mid-policy review. This forced Nifty to test the much-awaited support levels of 16671. After yesterday’s decline, the correction phase in the market may have ended and we expect a blowout rally in Nifty post 10th May. The India VIX also tested the 22% resistance mark in...
Pre-Market Analysis for 04th May 2022.
We Expect the market to open on a positive note on account of the global market rally in the last two trading sessions. Market expected to be range-bound today ahead of important events – US Fed policy meeting (11.30 pm) and mega LIC IPO commence from today. SGX Nifty is up marginally against the previous day’s close. We expect the market to pick up steam post 10th of May and...