Market Morning Notes For 28th March 2023
Market activity on Monday turned range bound between 16900-17100 after an initial gap-up opening. But late selling in midcap and small-cap counters forced Nifty to end with marginal gains and formed an indecisive signal of Doji Star. The announcement of Russia planning to put nuclear weapons in Belarus acted major dampener in recovery in the global market. The movement in S&P...
Weekly Market Report From 20th to 24th Mar 2023
Caution prevails; Global cues in focus this week Volatility was high last week on subdued global market sentiments as fears of contagion in the global banking sector weighed. Cautiousness also prevailed after the government hiked securities transaction tax (STT) on futures & options contracts. Globally, the US Fed increased the rate as was widely expected by 25 bps to 4.75-5 pct. The...
Market Morning Notes For 27th March 2023
Nifty last week tried to defend support of 16800 and managed to restrain weekly losses to less than 1%. Such capitulation was possibly mainly on the back of a rebound from S&P Dollex 30 i.e., Sensex in USD terms which was able to firmly hold the neckline of the inverted Head & Shoulders pattern which was bullishly activated in the month of Nov 2022. This breakout failed to carry...
Market Morning Notes For 24th March 2023
Markets ended lower after a failed attempt to surpass 17,156 in Nifty, mainly on the back of selling in financial stocks. The sharp drop in USDINR led the Dollex 30 index i.e. Sensex in USD terms to end on a flat note, thus implying overall strength in the market. With India VIX on the verge of triggering a major breakdown below 14.30, we expect Indian markets to gain momentum on the cross...
Market Morning Notes For 23rd March 2023
Market activity remained laggard on Wednesday ahead of the crucial Fed meet and merging of settlement which led to Nifty inching marginally higher but failing to cross 17156. The Fed raised key rates by another 25 bps, however, the commentary suggested some additional policy firming. However, it is the comment from Treasury Secy Yellen that spooked the markets- she says not considering a...
Market Morning Notes For 22nd March 2023
Markets managed to end at the highest point of the day after an initial gap-up opening on Tuesday but failed to cross the crucial hurdle of 17156 in Nifty Index. The high of the bullish hammer appearing on Monday’s trading session was taken out on a closing basis, thus putting more firepower for bulls to trade higher for the next few days and more leg of buying is likely to emerge once Nifty...
Weekly Market Report From 13th to 17th Mar 2023
Markets fall on global cues; US Fed meeting in focus in the coming week. Benchmark indices witnessed a sharp sell-off during the week and the Nifty slipped below the 17,000 level for the first time in over five months, taking cues from weak global markets. The turmoil in the US banking space with the failure of Silicon Valley Bank (SVB) and the closure of New York-based Signature Bank...
Market Morning Notes For 20th March 2023
Markets last week remained under pressure but recovery on Friday trading session helped key indices to trim losses to less than 2%. The BSE Sensex has formed a typical bullish expanding triangle which has added significant confusion due to higher high and lower low and has recently tested the long-term breakout line or neckline of head & shoulder bottom. With broader markets showing...
Market Morning Notes For 17th March 2023
Markets exhibited signs of strength as the broader index namely the Nifty 50 equal weighted Index failed to trigger a closing below the support line, thus helping the Nifty 50 to end in the marginal positive terrain. The Sensex has tested the lower end of the bullish expanding triangle and hence we may witness a major trend reversal on Sensex closing above 57,630 in today’s trading...