Pre-Market Analysis For 26th April 2022
Indian indices yesterday finished the session weak in line with global indices due to below-par earnings results, adding fresh concerns to elevated inflation, oil prices, war uncertainties and supply issue. The Nifty failed to test the support of the trading range, which is placed at 16671. The Nifty Bank outperformed the markets and ended on a positive note led by resilience in HDFC...
Fed Rates Potential Impact on the Indian Market
When America sneezes the world catches a cold! I am sure you must have heard this ample times ever since the 2008 recession. The US has been a global leader and its policy affects the entire world. Most of the world trade is carried with the help of US dollars which serves as a medium of exchange to facilitate trade. The dollar is considered to be a global reserve currency. The U.S Fed had...
How Russia and Ukraine Crisis Is Affecting Indian Market
The key concern at the top of the investor’s mind is the Russia Ukraine crisis. The Russian invasion of Ukraine is now entering its seventh day. The attack has roiled global markets investors are looking to safe-haven investments like U.S. government bonds, pushing yields down. Gold and the dollar advanced. Crude soared even as steps to tap reserves and increase the supply has...
Pre Market Analysis – 16th Dec 2021
Markets violated the key support on Wednesday after Nifty closed below 17312 while USDINR cleared its psychological barrier of 76. The close below 17312 has also reactivated breakdown in Nifty Non IT Index which holds 82% weight within Nifty and projects downside potential of 28% in near term. With JPYINR clearly sustaining above 66.70, we expect any rebound in equity markets to remain...
Pre Market Analysis – 15th Dec 2021
Markets remained under pressure on Tuesday with Nifty regaining above key the support of 17312 after initial gap down opening. With USDINR crossing above 76 in international market, the selling in equity market is likely to accelerate further. Expect major breakdown and spike in volatility if Nifty closes below 17312 for a potential target of 16% lower. Stocks in news ITC management...
Pre Market Analysis – 14th Dec 2021
Markets succumbed to selling pressure on Monday after Nifty in USD terms failed to cross the previous week high and was followed with losses of around 1%. As Nifty 50 has also been trading below 50 DMA for 17 trading sessions, such lower high formation in Nifty in USD terms should be seen as ‘Double Top ‘ formation and should be followed with a downside of at least 16% in the coming days....
Pre Market Analysis – 13th Dec 2021
Markets last week ended higher with 2% with broader markets outperforming leading indices but rupee remained under pressure. On the long term chart, Nifty has violated the long term support line and has closed below the same for 3rd consecutive week. The weekly support line henceforth will turn into resistance and Nifty for the week is likely to exert pressure around 17650-17850 in near...
Pre Market Analysis – 10th Dec 2021
Markets ended with marginal gains on Thursday with Nifty closing above 17500 while Bank Nifty ended with losses of 0.5%. The Nifty in USD terms still remains 0.65% away from previous week high as USDINR strengthened in the past few days. Thus, the area of 17630-17650 should be seen as a major resistance for markets in coming days. Adding to it, USDINR has also triggered a breakout above 75.66...
Pre Market Analysis – 9th Dec 2021
Markets extended gains on Wednesday to close higher by 1.8% led by banks and technology stocks on back of upbeat global markets and RBI action. The RBI kept the rates unchanged and extended LTRO stimulus till Jan 2022. With yesterday’s up move, Nifty has moved closer to previous week high which turned out to 17489 and Nifty in USD terms 0.8% away. The larger setup in the market still...