Market Morning Notes For 25th May 2022
Markets pared their opening gain and ended in the negative terrain on the back of selling in technology stocks while Bank Nifty ended positively with breadth remaining negative convincingly. With Nifty holding above the crucial support of 16123, this indicates that the current decline may be a bear trap and Nifty is expected to test 17200 levels in the next few days. The...
Market Morning Notes For 24th May 2022
Markets gave up their opening gains on Monday on the back of an 8% fall in the Metal Index with the Nifty ending in marginal negative terrain but well above 16,123. The FII selling in the past few days has seen a drastic reduction and on the other hand, has started building long positions in the futures segment which is a sign that they have already unwounded most of their positions in...
Why Is Rupee Depreciating?
The Indian rupee has fallen to record lows amid the worsening risk sentiment and the continued spree of overseas outflows from domestic equities. The rupee fell to an all-time low of 77.6125 against the U.S. Dollar due to sell-off inequities. A major reason for sell-off inequities Hike in interest rates by the U.S. Federal Reserve.Weakening global economic growth prospects.Growth...
Market Morning Notes For 23rd May 2022
Markets for the week made a sharp comeback with Nifty and Bank Nifty gaining over 3% but Metals and Technology indices suffered major damage with Nifty closing above the key resistance of 16,123. The weekly closing above 16,123 has confirmed a major trend reversal from a downtrend with immediate upside seen at 17,200 for a week and beyond. The recent sell-off from broader markets may be...
Market Morning Notes For 20th May 2022
Market succumbed to selling pressure on Thursday on the back of weak global markets. Sharp selling in Indian markets was mainly led by deep cuts in the technology and metal sectors, which were down more than 5%. Although Nifty and Bank Nifty still have failed to violate their March 2022 lows, but broader market has seen significant lows and has been going through a sharp portfolio...
Market Morning Notes For 19th May 2022
The market remained range-bound on Wednesday with Nifty and Bank Nifty ending in marginal negative terrain while the breadth of the market remained positive. At the current juncture, for the up move to sustain, the leadership should change to Bank Nifty as the ratio of Bank Nifty to Nifty is attempting a major breakout. We can expect 16123 to act as crucial support on a closing basis...
Market Morning Notes For 18th May 2022
Markets confirmed a major reversal on Tuesday after Nifty formed a ‘Bullish Belt-hold line’ setup on daily candlestick and surged higher by 2.5% on LIC listing day to close above the key resistance of 16,123. The breadth of the market remained highly positive but volumes remained on the lower side on the back of lack of participation. We can expect a major slide in...
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Market Morning Notes For 17th May 2022
Markets witnessed low activity trade in terms of volume on Monday with total volume in the cash market failing to cross the Rs. 50000 cr mark despite gains in the financial and automobile sector. The surge in Brent crude prices above USD 110 a barrel has raised inflation fears across the globe and has capped further inflows inequities in the past few days. Today, all eyes...