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...
Market Morning Notes For 24th August 2022
Markets made a sharp reversal on Tuesday as the gap down failed to force Nifty futures below VWAP support of 17250 and was followed by a convincing close above 17500 in the Nifty 50 Index. Major gains were seen from Bank Nifty which ended with a reversal pattern of ‘Bullish engulfing line’ on daily basis. We expect markets to remain volatile today on account of the derivative contract...
Market Morning Notes For 23rd August 2022
Markets extended weakness on Monday on the back of carnage in global markets as investors turned cautious ahead of the Jackson hole meeting scheduled on 26th Aug where the U.S. Fed speech could re-focus on inflation trajectory and global central banks on policy stance. The Nifty 50 ended below 17500 mark mainly on the back of domestic selling. Watch out for 58780 in Sensex very closely as...
Market Morning Notes For 22nd August 2022
Markets last week took a breather with Nifty 50 closing below the earlier weekly breakout line placed at 17775, leading to ‘Doji star’ on the weekly candlestick chart. Nifty 50 has given a decent rise in the recent past as it is now nearing closer to 18,000 landmarks which is also a psychological resistance barrier that everyone would be focussed on. Oil fell at the start of the week as...
Weekly Market Report 16th to 19th August
Markets extend gains, FIIs flows and earnings are in focus this week Weekly Market Review Markets this week just stopped shy of their previous swing highs. Nifty touched a high of 17992 and tried to close above its previous swing high of 18000 (April 22) while Bank Nifty just crossed its April ’22 swing high of 38750 but found stiff resistance at a higher level and closed at 38986....
Market Morning Notes For 19th August 2022
Markets extended their up move on Wednesday as a breakout above 17775 activated a new leg of buying in the broader market with the Nifty inching closer towards the psychological barrier of 18000. Despite some oscillators like RSI hitting the 83 mark, there have been no signs of reversal and we expect Nifty to surpass 18300 in days to come. After yesterday’s up move, the retail volume has...
Market Morning Notes For 18th August 2022
Markets extended its up move on Wednesday as a breakout above 17775 activated a new leg of buying in the broader market with the Nifty inching closer towards the psychological barrier of 18000. Despite some oscillators like RSI hit the 83 mark, there have been no signs of reversal and we expect Nifty to surpass 18300 in days to come. After yesterday’s up move, the retail volume has surged...
Market Morning Notes For 17th August 2022
Markets cleared a critical hurdle on Tuesday with the Nifty 50 closing convincingly above the key resistance of 17775 and opening gates for further up move in key indices. This breakout has been accompanied by a sharp decline in brent crude prices below USD 93 which may fuel a major rally in the financial sector in days to come. After yesterday’s breakout, daily turnover jumped to Rs 73000...
Market Morning Notes For 16th August 2022
Markets extended gains for the fourth consecutive week as positive global cues and upbeat results from India Inc aided sentiments. The Nifty gained about 2% while Bank Nifty rallied by 3% during the week and is comfortably above the breakout levels. Nifty 50 has now inched closely towards long-term breakout which is placed at 17775, and we may see an immediate rally towards 18266 while...