Market Morning Notes For 3rd Aug 2023
Markets fell on Wednesday with Nifty tanking below 19,600 forcing long positions to unwind after USDINR crossed above 82.50 mark. There could be a significant blow to Indian markets with USDINR confirming breakout above 82.5 and opening gates for a target of 87 in the coming weeks. For Nifty, we expect selling to aggravate further from here on with immediate reaction expected towards 19,100...
Market Morning Notes For 2nd Aug 2023
Market activity remained dull on Tuesday with Nifty 50 unable to cross above 19800 and was followed with closing below short-term support of 19735. In the past few days, Brent Crude prices has seen steady up move after formation of double bottom and is on a verge of breaching intermediate high for a potential target of USD 103 a bbl. We expect Nifty to sharply react lower by 8-9% on Brent...
SBFC Finance Ltd IPO (Subscribe)
Highlights Issue Size – 179-189 mn sharesIssue Open/Close – Aug 3/Aug 7, 2023 Price Band (Rs) 54-57Issue Size- Rs 10.25 bnFace Value (Rs) 10Lot Size (shares) 260 SBFC Finance Ltd. was Started in 2017 and it is a systemically important, non-deposit taking Non-Banking Finance Company (NBFC) that provides Secured MSME loans and Loans against gold, with most of their borrowers being...
How to File ITR 2 online FY 2022-23?
The Income Tax Department has issued 7 different types of ITR forms to categorise taxpayers based on their source of income, residential status, and a few other factors. Let us understand the eligibility of filing ITR 2 and how to file it online. Who can file ITR 2? The ITR 2 is a form that can be filed by individuals and HUFs who are Residents (ROR/RNOR) or non-residents earning income...
Market Morning Notes For 1st Aug 2023
Markets ended with gains of 0.5% yesterday on back sharp jump USDJPY with IT and Metals turning main contributors on Monday. With base metals prices surging almost 2% in yesterday’s trade, we expect this to impact the financial sector negatively. For Nifty, a move below 19700 should be seen as a reversal. The crucial support for Nifty is seen at 19,600 on closing basis below which,...
Weekly Market Wrap From 24th July to 28th July 2023
Result season keeps the market busy; Macro data, Brent prices, and Currency movement are in focus Benchmark indices fell after four-week gains on selling pressure in index pivotals. Some profit booking was observed which consequently dragged down the key indices. The global stock market continued to move upward. The Fed raised the interest rates by 25 bps to 5.25 to 5.50 pct. The Federal...
Market Morning Notes For 31st July 2023
Nifty for the week ended in the negative terrain despite lower reading in Indian VIX after posting gains for four straight weeks. The crucial support for Nifty is seen at 19,600 on a closing basis below which, we may see selling intensifying towards 19100 and below in a quick span of time. The rising crude prices and base metals prices pose a major threat to Indian markets with Brent Crude...
Market Morning Notes For 28th July 2023
Markets reacted to sharp selling from FII in futures segment with FII selling Rs 8,000 crore and Rs 4,000 crore in cash segment forcing Nifty to re-test 19,600 with formation bearish engulfing line on daily candlestick chart. The selling was mainly led by financial stocks and extended towards technology counters. We expect selling pressure to intensify further below 19,600 with quick downside...
Market Morning Notes For 27th July 2023
Markets opened with a gap up and managed to post gains of 0.5% ahead of FOMC. The key trigger which may act as a major reversal in Indian markets would be a decline in USDJPY and a simultaneous rise in Brent Crude prices. The Nifty may see a sustained decline on move below 19,600 with immediate reaction expected towards 19,100. USDJPY is positioned to move towards 130 in the near term while a...