{"id":15083,"date":"2022-06-17T10:08:22","date_gmt":"2022-06-17T04:38:22","guid":{"rendered":"https:\/\/www.fintoo.in\/blog\/?p=15083"},"modified":"2022-06-17T10:08:23","modified_gmt":"2022-06-17T04:38:23","slug":"market-morning-notes-for-17th-june-2022","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/market-morning-notes-for-17th-june-2022\/","title":{"rendered":"Market Morning Notes For 17th June 2022"},"content":{"rendered":"\n

The market ended sharply lower with key indices losing over 2% on the back of a 75 bps rate hike by Fed. In initial hours, the Nifty opened higher around 15849 but due to pressure from metals and technology stocks selling was spread across the counter with the Metal index down more than 5% while the technology index fell more than 3%. <\/p>\n\n\n\n

After yesterday\u2019s decline, Nifty has breached March 2022 low convincingly while Bank Nifty is still holding above the same, which is placed at 32000. <\/p>\n\n\n\n

The prevalence of positive divergence in RSI in both the Nifty50 Index and Nifty 50 Eq Wt index (which is testing the falling channel) indicate the market is prone to a major reversal but confirmation is required with closing above 15715 with the surge in volume. <\/p>\n\n\n\n

The spread of the Nifty 50-Nifty 500 Index has re-tested support of flag pattern and we expect the next leg of up move to be more large-cap centric with outperformance expected from financials and auto.<\/p>\n\n\n\n

Nifty50 Index & Nifty50 Eq Wt Index<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Stocks to watch<\/h2>\n\n\n\n

Positive Read through<\/strong><\/p>\n\n\n\n