Market Morning Notes For 27th June 2022
Markets on Friday managed to close above the key reversal point placed at 15683 after multiple attempts in the past few days. The setup of Dollex 30 i.e. Sensex in USD terms has been following characteristics of the typical ‘Falling Wedge’ pattern where RSI throws up positive divergence and prices are unable to form significant lows. With the Nifty closing above 15683, the next leg of the...
Product Offering For June 2022
Presenting the most reliable investment options for June 2022. Keeping the current global scenario and market reactions in mind, our financial experts at Fintoo have shortlisted some of the best investment options for you. Each investment option is selected only after performing in-depth analysis and making logical assumptions about its performance in the future. The entire list has...
Market Morning Notes For 24th June 2022
Markets rallied on Thursday on the back of gains from the auto sector with the Nifty ending higher by 1% and the breadth of the market remaining firm. A fall in Brent crude prices and an expected change in guard in the Maharashtra govt are key catalysts that could trigger a 10-15% upswing in short term. Yesterday, the Nifty had a volatile swing throughout the trading session before...
Market Morning Notes For 23rd June 2022
Markets remained under pressure on Wednesday after the Nifty failed to close above the key hurdle of 15683 and was followed by a decline of 1.5%. Though, the market is missing confidence in the up move, broader market like the Nifty 100 Equal weighted Index has already thrown up signs of a major bottom. Recently Nifty 100 Equal Weighted index has tested the lower end of the falling...
Market Morning Notes For 22nd June 2022
Markets has confirmed major reversal on Tuesday after key indices rallied nearly 2% with India VIX closing below 22%. The India VIX has completed phase of Running Triangle and is poised for a major breakdown in days to come. The implication of India VIX fall indicates heavy put writing in the coming days and this should eventually force Nifty to new highs. The support line of triangle is...
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It is important for the Income Tax Department to determine the residential status of a tax-paying individual or company. It becomes particularly relevant during the tax filing season. In fact, this is one of the factors based on which a person’s taxability is decided. Let us explore the residential status and taxability in detail. Meaning & importance of residential status: The...
Market Morning Notes For 21 June 2022
Yesterday, the Nifty gained nearly half percent but the Nifty 500 stocks advance-decline ratio was 1:3. Metal index declined sharply. On the charts, the formation of the bullish flag in the spread of the Nifty 50-Nifty 500 Index and breakout in the ratio of Bank Nifty to Nifty 50 hints at a major 10-15% upswing in the coming days. We expect the market to open on a positive note on account...
Market Morning Notes For 20th June 2022
Markets declined over 5% last week after U.S. Fed hiked key rates by 75 bps and hinted 50 bps rate hike in the month of July. The main draggers for markets were metals and technology sectors which have convincingly broken March 2022 lows while Bank Nifty was still able to sustain above March 2022 lows. With the prevalence of RSI positive divergence for both Nifty and Bank Nifty, markets...
Market Morning Notes For 17th June 2022
The market ended sharply lower with key indices losing over 2% on the back of a 75 bps rate hike by Fed. In initial hours, the Nifty opened higher around 15849 but due to pressure from metals and technology stocks selling was spread across the counter with the Metal index down more than 5% while the technology index fell more than 3%. After yesterday’s decline, Nifty has breached March...