{"id":16856,"date":"2023-03-14T10:19:02","date_gmt":"2023-03-14T04:49:02","guid":{"rendered":"https:\/\/www.fintoo.in\/blog\/?p=16856"},"modified":"2023-11-27T20:02:59","modified_gmt":"2023-11-27T14:32:59","slug":"market-morning-notes-for-14th-march-2023","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/market-morning-notes-for-14th-march-2023\/","title":{"rendered":"Market Morning Notes For 14th March 2023"},"content":{"rendered":"\n

Markets witnessed a sharp turnaround on Monday, as a higher opening of 100 points was followed by a sharp decline to breach an intermediate low of 17,255 and settled below 17,200 in the Nifty 50. The selling pressure was mainly felt in the financial sector with Nifty Bank ending lower by more than 2% as a contagion of two failed U.S. banks impacted most of the small and mid-size banks in India. <\/p>\n\n\n\n

For Nifty, the support line of the falling wedge placed at 17,205 was pierced on the closing basis and should be seen as a major reversal for an upcoming journey toward 19,500. An appearance of the falling wedge in Sensex 50 at a time of the re-test point of the earlier breakout point should be seen as a welcome sign for a major reversal of a downtrend. We expect the positive momentum to resume above 17,205 with an up move expected to accelerate at 2x speed based on the principle of falling wedge<\/em> bottoms.<\/p>\n\n\n\n

Nifty 50 & Enhanced Nifty<\/strong><\/h2>\n\n\n\n
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Enhanced Nifty is an in-house defined index that comprises of top 9 Nifty stocks by market cap<\/mark><\/em><\/figcaption><\/figure>\n\n\n\n

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

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