Weekly Market Report For 29th Aug To 2nd Sept
Markets extend flat in a volatile week; FII flows and global cues dictate the trend. Market Wrap Markets ended flatly in the highly volatile week as global growth concerns weighed on investor sentiment. Besides, weaker-than-expected domestic Q1FY23 GDP data and a marginal downtick in Manufacturing PMI for August worried investors. India’s gross domestic product (GDP) rose 13.5% YoY...
Market Morning Notes For 5th September 2022
Markets ended on a flat note for the week despite jitters in the global market with Sensex forming the ‘Bullish Piercing line’ on a weekly basis while SGX Nifty futures put up a ‘Rising three methods’ setup on a daily scale. With broader indices like BSE 100 posting weekly closing above the weekly breakout line, we expect next week’s up move to turn more broad-based with Nifty 50...
Market Morning Notes For 2nd September 2022
Markets remained under pressure on Thursday on the back of weak global cues with the Nifty settling lower by more than 1% while broader markets and Bank Nifty outperformed by a wide margin. Thursday’s closing was well above the September series VWAP of 17524 which is a positive sign for markets and with sharp fall in Brent crude prices below USD 94 a bbl may provide a necessary booster...
Market Morning Notes For 1st September 2022
Markets for the month of August ended positive after a sharp up move on Tuesday that shook most of the market participants as Nifty surged by around 500 points and Bank Nifty jumped 1300 points on the back of Rs 4000 crore buying by FIIs in the cash market. This up move has led to a major breakout on the ‘Monthly Chart’ for broader indices like Nifty 100 and BSE 100 index and is expected...
Market Morning Notes For 30th August 2022
Markets began on a negative note on Monday following weak global cues and the Nifty tested monthly support around 17158 and then closed above 17300 levels. A major weakness was seen in technology stocks with Nifty IT tanking by more than 3% while broader markets outperformed with Midcap and Small cap index ending with losses of less than 1%. For Nifty, this may be the last reaction of...
Market Morning Notes For 29th August 2022
Markets for the week ended lower with Nifty ending in the red by more than 1% while Bank Nifty closed with marginal gains. For Nifty, the decline should be treated as a retracement after a major run-up as indices gather strength for setting significant higher targets in the month of September. The monthly chart for August will still depict bullish picture as long it sustains above 17158....
Weekly Market Report For 22nd to 26th August
Weekly Market Wrap Markets extend gains, FIIs flows and earnings are in focus this week Investors focused on the Federal Reserve’s Jackson Hole conference for clues about the central bank’s policy outlook in the week gone by. The Federal Reserve raised rates by three-quarters-of-a-percentage point in June and July. Its next policy meeting is in September, and it is...
Market Morning Notes For 26th August 2022
Nifty reacted sharply in the last hour of trade on Thursday from 17700 after domestic call writers exerted pressure to force Nifty expiry around 17500. This may turn out to be the last attempt by bears to suppress the market. We expect major support for the market emerging from put writing at current levels and that should be confirmed with a sharp decline in India VIX in days to come....
Market Morning Notes For 25th August 2022
Markets ended with marginal gains despite severe pressure from call option writers during the expiry week. In fact, since 17th Aug hyperactivity was seen 17500 Call option where most market participants were seen heavily shorting it with an average price of 115, and open interest also swung from 10 lakh to all the way till 60 lakh. This would mean we can expect major short covering after...