Market Morning Notes For 28th July 2022
Markets rallied across the globe on Wednesday after US Fed hints at a slower pace of rate hikes in near future after hiking 75 bps key rates yesterday. Indian markets had anticipated such a move and rallied 1% across the board with the Nifty regaining its control above 16527 which turned out to be 200 DMA. Currently, Indian markets are on a verge of a major breakout with the expectation...
Market Morning Notes For 27th July 2022
Markets traded cautiously on Tuesday ahead of the U.S Fed policy meet on Wednesday evening with the Nifty partly parring the previous week gains to close below 16500. However, with the formation of the ‘Bullish hold line’ pattern in the previous week candlestick chart, we can expect weekly closing to turn flat or in the green as observed in most cases. This along with the flag breakout in...
Market Morning Notes For 26th July 2022
Markets remained highly volatile yesterday after disappointing earnings from Reliance Industries. Markets are expected to start on a sober note today after yesterday’s weakness. However, Bank Nifty has confirmed a ‘flag’ breakout with an immediate target of 43,300 which may trigger bullishness in days to come. The BSE Bankex in Euro terms has also seen a similar breakout which indicates that...
Rupee Vs Dollar
In the aftermath of the Covid shock, interest rates in the US moved down to near zero to support the economy. Low-interest rates in the US and other advanced economies increased the interest differential and attracted dollar inflows in an emerging market like India. Since the beginning of 2022 FED has indicated that it will move its focus from ultra-accommodative monetary policy to...
Market Morning Notes For 25th July 2022
Markets rally last week turned splendid with Nifty gaining more than 4% while Bank Nifty ended with gains of more than 7% with the formation of ‘Bullish Belt-hold line’ pattern on a weekly candlestick chart. In fact, on a weekly closing basis, Bank Nifty has confirmed a ‘flag’ breakout with an immediate target of 43,300 which may trigger bullishness in days to come. The BSE Bankex in Euro...
Market Morning Notes For 22nd July 2022
Markets extended gains on Thursday with FII turning net buyers for the fourth consecutive trading session thus forcing Nifty to end above 16522 which turned out to be 200 EMA. Going forward, the buying momentum is likely to accelerate further as the impact of the weekly breakout of BSE Bankex from ‘Flag’ consolidation may trigger at least a 17% up move in the coming days. We expect Nifty...
Market Morning Notes For 20th July 2022
Markets on Tuesday crossed two important landmarks – on one side Nifty 50 Equal weighted Index closed above 200- Day Exponential moving average and on the other side, the ratio of BSE Financial Index to MCX Copper closed above 1000- the day simple moving average. These along with the Nifty crossing above the 16355 is an indication of a sharp rally in days to come. More funds would...
Market Morning Notes For 19th July 2022
Markets rallied on Monday to cross above 2 weeks high on the back of short covering in technology and metal stocks with the Nifty 50 regaining its control above 50 EMA and India VIX settling near the 17% mark. We can expect market momentum to continue for the next few days and expect the market to settle higher despite a lower opening with near term target seen at 17500. Lower reading...
Market Morning Notes For 18th July 2022
Markets for the week remained under pressure on the back of USDINR hitting the 80 mark, but a sharp decline in Brent crude prices below USD 100 a bbl mark triggered a meaningful recovery to limit losses to less than 1% in Nifty 50 and Bank Nifty. The India VIX posted a closing below key support of 18% on back aggressive put writing and this would fuel a further rally in Nifty and Bank...