Market Morning Notes For 6th June 2023
Markets gapped higher on Monday but failed to cross its recent high of 18662 as sharp surge in USDINR above 82.5 triggered renewed selling in financials at higher levels. For Nifty, the setup of rising three methods in candlestick still remains active with potential target of 19285 and we expect major short covering on move above 18662. The lower reading in India VIX around the 11...
Weekly Market Report From 29th May to 2nd June 2023
Nifty flat for the week; RBI policy in focus Benchmark indices traded flattish positive bias, but midcap and smallcap indices outperformed. Sentiments across the globe were boosted after the US Senate approved the debt-ceiling suspension till January 1, 2025, thereby, averting a default. For the week, the Nifty ended flat at 18,534 levels, up 0.2 pct while the Nifty Midcap 100 and Nifty...
Documents Required to File Your Income Tax Return (ITR)
Filing an income tax return (ITR) accurately and on time is an essential obligation for taxpayers. Just like every person’s source is income, income structure, and tax liability are different, and the documents required for filing their ITR are also different. While we obviously cannot expect everyone to know about the technical and complicated process of ITR filing, we believe that every...
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...