Market Morning Notes For 1st July 2022
Markets on Thursday ended on a flat note firmly holding close above crucial support of 15683 as broader markets continue to budge under pressure while Bank Nifty posted gains of 0.5%. The spread of the Nifty 50-Nifty 500 Index has been approaching a ‘Bullish Triangle’ breakout and this would mean the next leg of the up move would be highly concentrated in Nifty 50 stocks. An appearance of...
Market Morning Notes 30th June 2022
Markets recovered from lows and closed with losses of less than 0.5% while broader markets struggled to post any meaningful recovery. The dull trading state in the market may soon be coming to an end as the Nifty enters the apex zone of the ‘Falling wedge’. With the appearance of positive crossover in MACD indicator and sustainable close above 15683, we expect the next leg of up move to...
Market Morning Notes For 29th June 2022
Markets opened lower on Tuesday amidst weak global cues but a late recovery in the broader market helped the Nifty end with marginal gains above 15850. The trading volumes were the lowest for the year as dull activity forced most participants to sit on the sidelines. Generally, at the tapered end of ‘Falling Wedge’, volumes tend to contract and later on expand with a rising gap. In the...
Market Morning Notes For 28th June 2022
Markets ended higher but cooled off from higher levels to close with gains of 0.9% in Nifty while gains were contributed by mainly technology and metal sector. The upside momentum for the market has already begun after Friday closing above 15683 and in the near term, prices are expected to surge higher despite the wall of worries. The initial motion may be a a slower pace due to lack...
Market Morning Notes For 27th June 2022
Markets on Friday managed to close above the key reversal point placed at 15683 after multiple attempts in the past few days. The setup of Dollex 30 i.e. Sensex in USD terms has been following characteristics of the typical ‘Falling Wedge’ pattern where RSI throws up positive divergence and prices are unable to form significant lows. With the Nifty closing above 15683, the next leg of the...
Market Morning Notes For 24th June 2022
Markets rallied on Thursday on the back of gains from the auto sector with the Nifty ending higher by 1% and the breadth of the market remaining firm. A fall in Brent crude prices and an expected change in guard in the Maharashtra govt are key catalysts that could trigger a 10-15% upswing in short term. Yesterday, the Nifty had a volatile swing throughout the trading session before...
Market Morning Notes For 23rd June 2022
Markets remained under pressure on Wednesday after the Nifty failed to close above the key hurdle of 15683 and was followed by a decline of 1.5%. Though, the market is missing confidence in the up move, broader market like the Nifty 100 Equal weighted Index has already thrown up signs of a major bottom. Recently Nifty 100 Equal Weighted index has tested the lower end of the falling...
Market Morning Notes For 22nd June 2022
Markets has confirmed major reversal on Tuesday after key indices rallied nearly 2% with India VIX closing below 22%. The India VIX has completed phase of Running Triangle and is poised for a major breakdown in days to come. The implication of India VIX fall indicates heavy put writing in the coming days and this should eventually force Nifty to new highs. The support line of triangle is...
Market Morning Notes For 21 June 2022
Yesterday, the Nifty gained nearly half percent but the Nifty 500 stocks advance-decline ratio was 1:3. Metal index declined sharply. On the charts, the formation of the bullish flag in the spread of the Nifty 50-Nifty 500 Index and breakout in the ratio of Bank Nifty to Nifty 50 hints at a major 10-15% upswing in the coming days. We expect the market to open on a positive note on account...