Market Morning Notes For 5th June
Markets for the week ended with marginal gains and managed to cement it position above the key psychological barrier of 18500 with India VIX closing around 11% mark. With formation of rising three methods on daily candlestick, Nifty has been positioned for major gap up opening in today’s trading session with immediate target seen at 19285. The important trigger for positive momentum is likely...
Market Morning Notes For 2nd June
Markets extended weakness on Thursday to violate the breakaway gap and closed below 18508 after caution was seen from financial segment while broader markets remained strong. The last four days of consolidation has thrown up rising three methods on candlestick chart and any gap up opening above yesterday high i.e., 18580 should confirm major trend reversal back in the...
Market Morning Notes For 1st June 2023
Markets for the May ended higher for the second straight month and posted gains of 2.5%. The monthly charts indicate short term hurdle at 18604.45, above which we expect smooth sailing towards 19285 for the month of June. The key catalyst for the strong up move in June may come from sharp drop in brent crude prices which has managed to settle below USD 74 a bbl. We expect 18508 to act as a...
Market Morning Notes For 31st May 2023
Market activity remained range bound on Tuesday but Nifty managed to stay afloat above the breakaway gap support which was placed at 18,508. The next leg of breakout may be witnessed above 18,750 in Nifty futures with the short-term target placed at 19,000. In today’s trading session, we can expect lower opening but buying support is expected to emerge around 18,580. Nifty 50 Stocks...
Market Morning Notes For 30th May 2023
Markets formed breakaway gap on Monday after Nifty surpassed psychological barrier of 18,500 and managed to stay above same for rest of the day. The breakaway gap confirms the start of new uptrend which has minimum potential to test levels of 19,285. For today’s trading session, support is seen at 18,500 with upside target for day set at 18,774. Nifty 50 Stocks to...
Weekly Market Report From 22nd to 26th May 2023
Nifty settles near 18,500; Uptrend intact Markets last week turned bullish, and the June series began on a positive note as the Nifty tested 18500 mark while Banking Index closed above the key psychological level of 44000 mark. Index heavyweights like RIL, TCS, ICICI Bank & HUL provided good support. Positive commentary from US Fed, consistent FII buying and healthy results from Index...
Market Morning Notes For 29th May 2023
Markets for the week posted smart gains with Nifty 50 rising around 1.5% while broader indices like Nifty 50 Equal Weight Index and Nifty Midcap 100 index outperformed with wide margin by surging around 2.7%. The breakout above 140 in USDJPY may provide more stimulus for Indian markets to catch up momentum with Nikkei Index which so far for the year has been up +20%. Nifty 50 which already...
Market Morning Notes For 25th May 2023
Markets reacted lower amid worries over U.S. debt ceiling deal with banking stocks dragging Nifty lower by 0.3%. The Wave (ii) within Wave (5) seems to be in progress and expected to settle in range of 18230-18285. With advance decline ratio remaining in the positive terrain despite selling in large cap stocks. We expect current correction to be short lived before we see a near term upside...
Market Morning Notes For 24th May 2023
Markets cooled off from the day’s high after hitting 18420 to end with a small doji star on candlesticks while most technology stocks ended in negative terrain. The Nifty is currently in Wave 5 of (V) and declines from here on should be considered as part of Wave (ii) within Wave 5. An ideal retracement or support can be confirmed anywhere between 18230-1275 with Wave (iii) target seen at...