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...
Market Morning Notes For 31st May 2022
Markets witness a sharp reversal in FII flows on Monday with FIIs turning into net buyers in both cash and derivatives markets forcing the Nifty to close above 16,600. The formation of a ‘bullish flag’ in the spread of the Nifty 50 Index and Nifty 500 Index indicates reallocation from broader markets to Nifty 50 Index and this may force the Nifty to move higher to 19,867 while broader...
Market Morning Notes For 30th May 2022
Markets for the week ended with marginal gains after going through volatile sessions towards 15800. However, with the spread of the Nifty 50 and Nifty 500 index on a verge of breaking out from flag consolidation, we expect Nifty to see a vertical move towards 17200 in the coming days. Global are positive with Asian indices opening in the green led by the Japanese...
Market Morning Notes For 27th May 2022
Markets rebounded sharply to regain their control above the key resistance of 16123 led by gains in banking stocks. Market dynamics turn into positive terrain on a close above 16123 for a potential target of 17200 in short term. The ratio of Bank Nifty to Nifty has also confirmed a major breakout from the downtrend, which is likely to fuel major buying from FIIs in Indian...
Market Morning Notes For 26th May 2022
Markets witnessed broad-based selling on Wednesday with midcap and small-cap indices declining over 3% while Bank Nifty ended in the positive terrain. Nifty surrendered below its key support of 16123 but losses were pared to less than 1% as Nifty Bank outperformed. We expect weakness in the midcap and small-cap sector to continue as money flow shifts toward large-cap financials. Based...
Market Morning Notes For 25th May 2022
Markets pared their opening gain and ended in the negative terrain on the back of selling in technology stocks while Bank Nifty ended positively with breadth remaining negative convincingly. With Nifty holding above the crucial support of 16123, this indicates that the current decline may be a bear trap and Nifty is expected to test 17200 levels in the next few days. The...
Market Morning Notes For 24th May 2022
Markets gave up their opening gains on Monday on the back of an 8% fall in the Metal Index with the Nifty ending in marginal negative terrain but well above 16,123. The FII selling in the past few days has seen a drastic reduction and on the other hand, has started building long positions in the futures segment which is a sign that they have already unwounded most of their positions in...
Market Morning Notes For 23rd May 2022
Markets for the week made a sharp comeback with Nifty and Bank Nifty gaining over 3% but Metals and Technology indices suffered major damage with Nifty closing above the key resistance of 16,123. The weekly closing above 16,123 has confirmed a major trend reversal from a downtrend with immediate upside seen at 17,200 for a week and beyond. The recent sell-off from broader markets may be...
Market Morning Notes For 20th May 2022
Market succumbed to selling pressure on Thursday on the back of weak global markets. Sharp selling in Indian markets was mainly led by deep cuts in the technology and metal sectors, which were down more than 5%. Although Nifty and Bank Nifty still have failed to violate their March 2022 lows, but broader market has seen significant lows and has been going through a sharp portfolio...