{"id":15456,"date":"2022-09-05T10:03:08","date_gmt":"2022-09-05T04:33:08","guid":{"rendered":"https:\/\/www.fintoo.in\/blog\/?p=15456"},"modified":"2023-12-04T13:06:57","modified_gmt":"2023-12-04T07:36:57","slug":"market-morning-notes-for-5th-september-2022","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/market-morning-notes-for-5th-september-2022\/","title":{"rendered":"Market Morning Notes For 5th September 2022"},"content":{"rendered":"\n

Markets ended on a flat note for the week despite jitters in the global market with Sensex forming the \u2018Bullish Piercing line\u2019 on a weekly basis while SGX Nifty futures put up a \u2018Rising three methods\u2019 setup on a daily scale. <\/p>\n\n\n\n

With broader indices like BSE 100 posting weekly closing above the weekly breakout line, we expect next week\u2019s up move to turn more broad-based with Nifty 50 expecting to cross an all-time high.<\/p>\n\n\n\n

Meanwhile, Brent Crude prices have seen a sharp correction in the past few days with the correction taking the shape of a Flat formation which is typically seen in the Wave 4 setup. <\/p>\n\n\n\n

In the next few days, we expect Brent crude to slip further towards USD 86, below which prices are unlikely to see a significant decline as they enter the major Fibonacci support zone. <\/p>\n\n\n\n

The long-term correction in Brent crude may be coming to an end in the next few weeks before we see a resumption of the up move which can take prices to USD 200. An ideal strategy to be applied in the next few days would be accumulating Crude ETF when brent crude moves closer to USD 86.<\/p>\n\n\n\n

Nifty 100 Monthly chart & Sensex Daily<\/strong><\/h2>\n\n\n\n
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Stocks to watch<\/strong><\/h2>\n\n\n\n

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