Market Morning Notes For 6th June 2022
Markets for the week ended on a positive note with the Nifty gaining by 1.5% while the broader market struggled. There has been a clear diversion taking place from the Nifty 500 Index to the Nifty 50 index and that is why the spread of the Nifty 50 and Nifty 500 Index ended with gains of +50pts on the Friday session. With the formation of a bullish flag pattern in the spread of...
Market Morning Notes For 3rd June 2022
Markets confirmed a major blowout on Thursday after the Nifty ended above the key hurdle of 16600 on a closing basis. This breakout may fuel a 2500-3000 pts rally in the near term, as the spread of the Nifty 50 & Nifty 500 Index is likely to activate a flag breakout. A similar upsurge in the spread of the Nifty 50 & Nifty 500 Index was witnessed at end of July 2021, which led to a...
Basics Of Income Tax
What Is Income Tax? We live in a country and use the public infrastructure like roads, transport, schools, and hospitals. We are protected through law and order and secured from foreign countries through defense (like the army). Most of our needs are taken care of through provisions of such services by the Government and administration. All these activities need money. And such...
Market Morning Notes For 2nd June 2022
Markets continued to remain under pressure mainly on the back of weakness in technology and commodities stocks with funds being redistributed to financials, auto, FMCG, and engineering sectors. The ratio of Bank Nifty to Nifty Service Sector Index has shown a clear turnaround from the downtrend indicating more diversion of flows towards the financial sector while the Nifty Commodities...
Market Morning Notes For 1st June 2022
Markets on monthly basis ended with losses of 3% but late recovery during the month above 16,500 in Nifty has reinforced a positive trend in the near term. On the monthly candlestick chart, Nifty has formed ‘Long lower shadow’ pattern. The long lower shadow candlestick is a technical indicator that is used by traders to identify a reversal in the market trends. The pattern features a...
Market Morning Notes For 31st May 2022
Markets witness a sharp reversal in FII flows on Monday with FIIs turning into net buyers in both cash and derivatives markets forcing the Nifty to close above 16,600. The formation of a ‘bullish flag’ in the spread of the Nifty 50 Index and Nifty 500 Index indicates reallocation from broader markets to Nifty 50 Index and this may force the Nifty to move higher to 19,867 while broader...
Market Morning Notes For 30th May 2022
Markets for the week ended with marginal gains after going through volatile sessions towards 15800. However, with the spread of the Nifty 50 and Nifty 500 index on a verge of breaking out from flag consolidation, we expect Nifty to see a vertical move towards 17200 in the coming days. Global are positive with Asian indices opening in the green led by the Japanese...
Market Morning Notes For 27th May 2022
Markets rebounded sharply to regain their control above the key resistance of 16123 led by gains in banking stocks. Market dynamics turn into positive terrain on a close above 16123 for a potential target of 17200 in short term. The ratio of Bank Nifty to Nifty has also confirmed a major breakout from the downtrend, which is likely to fuel major buying from FIIs in Indian...
What Are The Types Of Income Tax Notices?
Most of us feel that once we have filed our Income Tax Return then we have complied with all our provisions and become surprised when we get any notice from the Income Tax Department. So we will have to understand what other aspects we need to keep track of to ensure that we are in compliance with the Income-tax Act The first thing which we need to understand is the different types of...