Markets turned volatile on Monday with broader indices likes midcap and small cap index continued to plunge lower with losses of more than 2% while Nifty ended on a flat note mainly on back of rebound in Bank Nifty. With Nifty breaching Friday’s low of 18034, selling intensified across the board with advance decline ratio standing at 3:17 by the closing. With lower low after weekly bearish…

Nifty has ended below its previous day low for the 3rd straight day, but a 180 point rally in the last hour of trade, suggests that the relief rally could continue on the index in today’s trading session. The Bank Nifty was a clear outperformer in yesterday’s session, it not only made a fresh all time high by rallying nearly 1.5% in the last hour of trade, but also posted the highest ever…

Markets succumbed to selling pressure on Wednesday after prices sustained below 18377 and final closing was almost at day’s low by 0.8% in Nifty. The historical volatility of the Nifty Midcap & Small cap index has activated a major breakout after yesterday’s down move and we expect a minimum 15-20% fall in days to come. For Nifty, the immediate downside is seen towards 17452 and selling…

Markets extended gains on Monday by ending in green for seventh consecutive trading session and attempting resistance of 18,600. For the next few days, 18500-18666 is seen as a crucial resistance after Dollex 30 i.e. Sensex in USD terms has managed to close above its Septembers highs on Monday. On downside short term support is seen 18445 on closing basis. Earnings Today- ACC, Heildelberg…

Market last week gained by 2.5% despite USDINR hitting 1-yr high and Brent crude crossing 7-yr high on back of easy liquidity measures by central banks. After Friday’s up move, the Sensex in USD terms has re-tested its September highs and markets are likely to face resistance around 18,500-18,600 in the coming week. With Brent crude positioned for hitting USD 110 a bbl and USDINR about 80, we…

Markets rallied on Wednesday on the back of gains from Auto stocks with the Nifty settling well above 18100 but Bank Nifty struggled at higher levels. After yesterday up move, the Dollex 30 i.e. Sensex in USD terms has moved higher but remains 1.7% lower from Sep highs. Indian markets still remain vulnerable to major correction as USDINR still remains in the breakout zone for a potential…

Market extended gains on Tuesday with Nifty ending higher by 0.3% but in USD terms remained more or less neutral. The Nifty in USD terms has been trading sideways since mid of September and has formed Head & Shoulder top and a short term breakdown is placed 1.6% lower. Today, all eyes will be on Fed Minutes which will set the tone for tapering adjustment and strength of dollar…

Nifty failed to sustain above 18000 on Monday as surge in USDINR forced Nifty to retreat from higher levels and ended below 17950. With long term breakout in USDINR being activated above 74.80, the positive momentum can easily carry upmove towards 78 and beyond. The rise in USDINR also has forced Indian 10 yr bond yield to cross 6.3% and this may eventually trigger more selling from FII. For…

Indian markets in dollar terms were up 1% for week as Nifty rallied 2% despite sharp drop in rupee and USDINR closing above 75. First time after August 2020, USDINR has posted weekly closing above 75 and we can expect move towards 78 in quick succession from here on. Last week, due to rupee depreciation, technology index was up 5% but from here on, we can expect major unwinding in financials…