Market Morning Notes For 19th December 2022
Markets for the week ended lower by more than 1% on the back of a 50 bps rate hike and hawkish fed commentary with most global markets coming under pressure and FII selling around Rs 2000 cr in the spot market. For the month of December, FII so far has sold more than Rs 17000cr in the future segments in anticipation of rate hikes, and expect Nifty 50 to see a test of the inflection point as...
Market Morning Notes For 15 December 2022
Markets traded in a narrow range on Wednesday to finally close in the positive terrain forming a small doji star on the daily candlestick which is a sign of indecisiveness ahead of the Fed meeting. The Fed hiked rates by 50 bps as expected but commentary turned hawkish with median rates expected in 2023 at 5.1% which led to US markets closing in the negative terrain. For Nifty 50, the...
Market Morning Noted For 14th December 2022
Markets rallied on Tuesday to regain its control above the key resistance of 18580 on the back of upbeat global markets and a surge in USDJPY. The lower-than-expected US CPI data bolstered hopes that the Fed may not have to raise rates further todays expected 50 bps hike. However, US markets came off the highs to end with marginal gains after Dollar Index fell sharply. Wall Street closed...
Market Morning Noted For 13th December 2022
Markets ended unchanged on Monday after the initial gap-down opening while broader markets outperformed key indices. Overall global markets have turned cautious ahead of the U.S. Fed meeting on Wednesday with the expectation of a 50 bps rate hike. For Nifty 50, the ideal strategy would remain to buy on a decline with stop-loss placed at 18100 and Target placed at 19867. The key trigger to...
Weekly Market Wrap For 5th To 9th December
Markets consolidates; Global central banker policy meet in focus in coming week Markets corrected after two-week gains as global markets fell due to fear of an economic slowdown and worries over a Fed rate hike. In line with market expectations, the RBI in its monetary policy meeting hiked rates by 35 bps to 6.25 pct continuing its fight against inflation. This is the fifth consecutive...
Market Morning Noted For 12th December 2022
The market for the week remained under pressure on the back of a weakening rupee against a basket of developed currencies with Nifty 50 closing with losses of more than 1% while the Banking sector outperformed with 1% gains. The weekly close below 18580 in Nifty has punctured the short-term momentum and could be re-testing the next line of support towards 18300 in days to come. The...
Market Morning Notes For 9th December 2022
Market activity remained range bound with the Nifty 50 Index regaining above the key support of 18580 on the back of gains from Bank Nifty. The lower crude prices are providing a necessary cushion for Indian markets to stay afloat at higher levels however sudden drop in non-institutional volumes from Rs 35000 cr to Rs 26000cr is a sign of concern that the liquidity is waning out. For,...
Market Morning Notes For 8th December 2022
The market witnessed selling pressure on Wednesday with Nifty 50 breaching short-term support of 18580 due to weakness in the technology sector but Bank Nifty outperformed. The dull trading activity is a sign of major accumulation unless prices breach 18100 on the lower side. For the moment, the strategy remains to buy on a decline with the ideal bottom expected around 18350 and a...
Market Morning Notes For 7th December 2022
Markets remained under pressure due to a surge in USDINR above 82.5 forcing Nifty 50 to end lower by 0.3% around 18650. The announcement of the cap of USD 60 a bbl on Russia Oil has forced Brent Oil to move below USD 80 a bbl which may have provided some temporary relief to the Indian markets. The short-term bottom in Brent oil is likely to extend towards USD 74, before we may see a major...