Weekly Market Report 25th to 29th July
A nifty break above the trading range, upside seen at 17,500-17,800 After three months of consecutive decline, equity markets rallied sharply in July’22. Nifty and Sensex gained about 9% each while the Midcap index gained 12%. Sentiments turned positive on hopes the U.S. Fed will slow down its pace of interest rate hikes at its upcoming meetings. However, the unexpected...
Market Morning Notes For 29th July 2022
Markets opened with a gap up on Thursday and extended gains to close at the highest point on expiry with Sensex posting gains of +1000 pts with support from broader markets. The Wave (3) impulse breakout is in an activated mode which has the potential to take Nifty towards 18982 in a quick span of time on the back of short covering. The breakout in BSE Bankex in Euro terms would ensure...
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...