Market Morning Notes For 4th May 2023
Markets paused the rally after six straight sessions of gains ahead of a crucial Fed meeting on Wednesday. The Fed hiked key rates by 25 bps and hinted that it may be the final move. The Nifty managed to sustain above the crucial breakout zone of 18050 and we expect the next leg of the rally to easily cross the 18900 mark. Today, despite a lower opening, we could see buying which could be...
Market Morning Notes For 3rd May 2023
Markets extended gains on Monday with Nifty closing convincingly above the May month high of 18089 with the broader market outperforming main indices. The short-term setup in Nifty has also confirmed the breakout from a broadening expanding wedge which projects a minimum target of 19300 and a new base is seen at 18050. The sudden surge in India’s VIX by 5% may be considered a short-term...
Market Morning Notes For 2nd May 2023
Markets for the month of April ended with gains of more than 4% mainly on the backdrop of sharp rebounds from low-volatility stocks, with FMCG leading from the front. A monthly close above 18050 levels in Nifty has opened gates for quick reflexes towards 19000 in the coming days as the significant short covering is expected after prices surpassed Friday’s high. The lower reading in...
Decoding Major Deductions Under Old Tax Regime
As per the data, more than 2 crore taxpayers in the age group of 18 to 35 years filed their Income Tax Returns (ITRs) in FY 2022-23. In the Budget 2023, the Central Government announced that annual income of up to Rs. 7 lakhs would be tax-free under the New Tax Regime. This is along with the standard deduction of Rs. 50,000/- under the New Regime, which will make income up to Rs. 7.5...
Market Morning Notes For 20th April 2023
The market movement remained range bound on Wednesday but Nifty managed to sustain above 50 & 200 DMA despite selling pressure at higher levels. Markets are in pause mode currently before the upswing resumes towards 19500. We expect the bias to remain positive while India VIX may drift to 9 levels first and thereafter Nifty 50 catches positive momentum. Dollex 30 ie Sensex in...
How to use the Fintoo Chatbot for stocks?
We all know that the share market is one of the few investment options that can provide inflation-adjusted returns in the long run. But in order to create wealth, you need to be able to have an answer to the question, In which stock should you invest your money? And for that, you need some exposure to equity market investments. As thousands of stocks are listed on the Stock Exchange,...
Market Morning Notes For 19th April 2023
Markets activity remained range bound with Nifty opening higher and ending with marginal losses while midcap and the small-cap index ended in the green. Nifty is currently trading in a major breakout zone and hence has been sustaining above 50 DMA and 200 DMA convincingly. The lower reading in India VIX suggests a big upswing is likely in the coming days with a potential upside beyond 18000...
Weekly Market Report From 10th to 14th Apr 2023
Nifty surpasses resistance; IT stocks to play spoilsport Markets extended gains for the third consecutive week on continued support from global markets and FIIs inflows. The Nifty surpassed the important barrier of 17,800. The Nifty IT index fell and dragged the benchmark index and results from heavyweights TCS and Infosys were below expected. Globally, poor retail sales data in the U.S....
Market Morning Notes For 12th April 2023
Markets extended gains on Tuesday after a sharp surge in Bank Nifty which helped Nifty to close above 17700 levels. Markets have clearly entered into a breakout zone with upside projection seen a further 9% in the coming days. The intermediate high of 17799.95 is likely to be taken out in today’s trading session above which, we may see the next round of short covering. The breakout in Dollex...