Market Morning Notes For 10th November 2022
Markets failed to carry momentum beyond 18300 on Wednesday despite higher opening and were followed by closing in the negative terrain with breadth turning unfavorable. After the recent upmove, the Nifty 50 Index remains under major risk with a potential downside of 14700, if it is unable to clear the critical hurdle of 18513. The daily RSI has been showing negative divergence and a...
Market Morning Notes For 04th November 2022
Market activity remained laggard on Thursday with Nifty 50 ending in marginal negative terrain to hold firmly above 18000 levels. The levels of 18513 still pose a major risk for markets as the current rebound has been led by non-technology stocks within the Nifty 50 Index. In case we plot, the data of the Nifty 50 Index ex-IT, it clearly shows the formation of the rising wedge which construes...
Market Morning Notes 3rd November 2022
Markets turned cautious on Wednesday ahead of the U.S Fed meeting with the Nifty 50 forming a Bearish Engulfing line on the candlestick and prices retreated from highs of 18178 levels. The wide deviation in performance between global markets and Indian markets has reached its optimal peak and hence one should adopt a cautious stance till the time the Nifty 50 does not cross above the 18513...
Market Morning Notes For 02nd November 2022
Markets for the month of November began on a positive note with the Nifty 50 Index closing well above the 8-month high followed by confirmation of the ‘Monthly Breakout’. The breakout setup has clearly opened the gateway towards 19867 but with one important ‘Caveat’. It becomes necessary from now onwards that Nifty 50 clears the hurdle of 18513 in the next few days else there is a 10%...
Market Morning Notes For 01st November 2022
Markets posted monthly closing with hefty gains as Nifty ended higher by more than 5% after FII infused more than Rs 4000 crores in yesterday’s trading session. The Monthly closing is always considered very important by strong hands and after a close above 18000 levels, the buying momentum accelerated further toward a potential target of 19867. From here on, the market may see a cushion of...
Weekly Market Wrap For 24th To 28th October
Markets extend gains in a festive week; Nifty to cross the 18,000 mark Top global market updates for the week Equity markets remained upbeat on a holiday-shortened week as sentiments improved on positive global cues and on growing expectations of smaller-than-expected rate hikes. A strengthening rupee further aided the sentiments. Global markets too traded positively after...
Market Morning Notes For 31st October 2022
Nifty 50 last week ended with gains of more than 1% which may sound insignificant, but detailed descriptions indicate that the market has laid the foundation for ‘Big Fat’ by posting the weekly closing above the 17780 mark. The daily spread of the Nifty 50- Nifty 500 Index has seen a convincing breakout above the 2515 mark which may act as an important landmark for a start of a large...
Market Morning Notes For 28th October 2022
Markets ended with gains of 0.5% on Thursday but failed to cross-resistance of 17800 on rising crude prices. At the current juncture, the Nifty 50 is sustaining above the one-year breakout line hence we expect significant short covering above 17800 with an immediate target of 18600. Low reading in India VIX indicates the market getting a cushion through significant put writing but the real...
Market Morning Notes For 27th October
Markets reacted on Tuesday from higher levels of 17800 on the back of a subdued global market with the Nifty 50 ending lower by 0.5% with breadth turning in favor of declines. The decline should be seen as a mere throwback after a recent breakout in the spread of the Nifty 50 – Nifty 500 index and we may see an immediate reaction of +13% in Nifty 50 in the next 15-20 trading session. Any...