Markets gave away gains yesterday and ended near day’s low at 16,800 levels while midcap and small-cap sectors outperformed the key benchmarks. The spread of the Nifty 50 – Nifty 500 Index has landed the support leg of ‘Bullish Flag’ and this would mean the next leg of up-move will be concentrated in high free float-based Nifty 50 stocks. In fact, the spread of the Nifty 50-Nifty 500…

Markets tested its long-term support on Wednesday after Sensex ended at a 200-day exponential moving average which was placed at 56596 while midcap and small-cap sectors outperformed the key benchmarks. The selling was more concentrated in Sensex 30 stocks after Nifty breached the psychological mark of 17000 which triggered margin calls in the last hour of trade. After yesterday’s…

Markets attempted to rebound in the early hours, but Sensex failed to sustain above key Fibonacci levels of 57634 which forced key indices to end in unchanged territory. The continuous surge in US 10-yr yield towards 4% created pressure in precious metals as well base commodities as the USD continues to outperform most asset classes. The delay in India’s inclusion into the key government…

Markets succumbed to selling pressure on Monday after key indices opened with a gap below 50 DMA with the Nifty ending with losses of 2% while metals and financials suffered maximum because of the surge in USDINR beyond 81.5. The current corrective setup of BSE Sensex is similar in nature compared to the setup during 2018 and hence likely to be followed with quick recovery in the coming…

Markets for the week ended with losses of 1% after US Fed hiked key rates by 75 bps thus forcing global indices to plunge by 3-4% across including commodity prices. Despite bearish sentiments, the Indian markets have seen significant outperformance against the Nasdaq and Dax Index with Sensex outperforming by a margin of 24%. In the short-term, the price setup in Sensex after the recent…

Markets reacted to the Fed rate hike of 75 bps with the Nifty ending lower by 0.5% outperforming most global markets but USDINR surged to lifetime highs towards 81 on the back of the strong dollar. The impact of rising in USDINR was felt in Bank Nifty which saw a decline of more than 1% but the broader market remained strong with both mid-cap and small-cap ending in positive terrain. For…

Markets turned cautious on Wednesday to end lower ahead of Fed rate action and the Nifty managed to sustain above important Sep Series VWAP support of 17666 even during the closing session. On daily basis, the Nifty is still trading above the breakout line which increases the probability of a sharper up move towards an all-time high, and lower brent crude prices below USD 90 should further…

Markets ended with gains of 1% after opening higher which helped Nifty futures to penetrate above the September series VWAP of 17,666 with Bank Nifty outperforming by a wide margin. A close above 17,775 in Nifty has re-activated bullish momentum after indices re-enter the weekly breakout zone with a potential upside of 19,867. The main trigger for an upside in Nifty in the coming days is…

Markets rebounded from lows to end in positive terrain with Nifty closing above 17,600 but breadth of market remained negative. The September series VWAP for Nifty is placed at 17666 above which, bulls will gather steam to re-test its all-time high. The main trigger for outperformance of Indian market against its global peers likely to come from breakout in ratio of Nifty 50 to MCX WTI…