Weekly Market Wrap From 3rd To 7th October
Markets snap 3-week losing streak; Quarterly earnings in focus in the coming week Indian stock market position Equity markets snapped a three-week losing streak and logged modest gains even as volatility remained high. Markets rebounded after witnessing a sharp sell-off in the past couple of weeks as Nifty got supported by a rally in metal, realty, and IT stocks. Global...
Market Morning Notes For 11th October 2022
Markets recovered from lows on Monday to finally close with losses of less than 0.5% on the back of gains in technology stocks with Sensex closing above the key resistance of 57634. The current setup of bullish ‘Broadening Descending Wedge’ in SGX Nifty clearly marks the accumulation phase and we expect a major upswing towards 18800 on a move above 17360. Adding to it, US markets have...
Market Morning Notes For 10th October 2022
Markets last week ended with gains of over 1% after Sensex was able to close above the key resistance of 57634 despite pressure in the rupee where USDINR closed above 82.50 on the international exchanges. The current setup in SGX Nifty clearly indicates the formation of a ‘Broadening Descending Wedge’, which is highly bullish, and post-breakout above 17370, prices are likely to see a sharp...
Market Morning Notes For 7th October 2022
Markets opened with a gap-up yesterday but failed to sustain the positive momentum and closed with little gains as volatility emerged ahead of the weekly expiry day. Overall market breadth remained bullish, where 1,620 stocks advanced against 681 declined stocks. The 8-Bar reversal has activated a major reversal from the downtrend and the appearance of a breakout in the spread of the Nifty...
Market Morning Notes For 6th October 2022
Markets opened with a gap-up on Tuesday and rallied higher to close more than 2% with Bank Nifty outperforming by a wide margin and closing above the 39.000 mark. The 8-Bar reversal has activated a major reversal from the downtrend and the appearance of a breakout in the spread of the Nifty 50- Nifty500 Index, the gains in large-cap stocks are expected to accelerate further. The bullish...
Market Morning Notes For 4th October 2022
Markets remained under pressure on Monday with key indices ending lower by 1% on the back of concerns about the risk associated with Credit Suisse default and its impact on other financial institutions. Financials turned major drag on Monday with Bank Nifty ending lower by 2% while USDINR rebounded sharply towards 82 mark. For the Indian market, the appearance of a Bullish engulfing line...
Weekly Market Report For 26th To 30th September
Markets end in the red in a volatile week; Fed rate action dictates the trend Indian stock market position Equity markets fell during the week as volatility remained high on weak global market cues and the Fed chairman commented that the central bank will continue to raise rates to end high inflation, even if it pushes the country into a recession. The MPC delivered...
Market Morning Notes For 3rd October 2022
Markets for the month had highly volatile trade on the back of a hawkish reaction by the US fed with Nifty ending lower by 4% while Bank Nifty trimmed lost 2% despite USDINR surging by 2.5%. The emergence of the ‘Bullish Engulfing line’ pattern on Friday has major significance as it has appeared near long-term support of 200 DMA and also has followed with ‘8 Bar Reversal’ in Sensex & Bank...
Market Morning Notes For 30th September 2022
Markets gave away gains yesterday and ended near day’s low at 16,800 levels while midcap and small-cap sectors outperformed the key benchmarks. The spread of the Nifty 50 – Nifty 500 Index has landed the support leg of ‘Bullish Flag’ and this would mean the next leg of up-move will be concentrated in high free float-based Nifty 50 stocks. In fact, the spread of the Nifty 50-Nifty...