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...
Weekly Market Report For 11th July to15th July 2022
The market remains extremely volatile; the Nifty rangebound between 15,900-16,200 Equity markets continue to remain volatile, and range-bound. The range however seems to have shifted higher from 15600 – 15800 and 16000 – 16200. The uncertainty regarding the direction of index movement remains due to high inflation in the economy and uncertainty over the FII inflow in the...
Market Morning Notes For 15th July 2022
Markets recovered from lows after falling crude prices and declining metal prices provided added cushion for Indian markets with the Nifty ending in marginal losses and Bank Nifty sustaining above its ‘triangle breakout’. The lower reading in India VIX of around 18% should be seen as a positive trigger for Indian markets as the market may be in consolidation mode mainly for sake of...
Market Morning Notes 14th July 2022
Markets succumbed to selling pressure on the back of weak global cues as US CPI soared by 9.1% from year-earlier thus raising the expectation of further rate hikes beyond 75 bps in the July fed meet. Nifty attempted to sustain above 16123 in the initial hours but USDINR crossing above 79.5 forced a fresh round of weakness in Bank nifty which fell almost 1%. The main trigger for Indian...
Market Morning Notes 13th July 2022
Markets remained under pressure on the back of weakness in the technology and metal sector with the Nifty closing below the key support of 16123 on Tuesday. However, with a sharp drop in Brent crude prices yesterday below USD 100 a bbl, it may fuel positive sentiment for Indian markets which have been battling with rising energy prices. On the backdrop of the bullish belt hold line...
Market Morning Notes For 12th July 2022
Markets opened lower amidst weakness in technology stocks but recovery in financials helped the Nifty to end on a flat note while Bank Nifty gained by 1%. The India VIX also ended on a flat note thus confirming a third consecutive close below 200 DMA and activating a major breakdown in the near term. With the support of heavy put writing in the system expect the market to trade with...
Market Morning Notes For 11th July 2022
Markets for the week ended with gains of around 3% with the Nifty forming a ‘Bullish Belt-hold line’ pattern on the weekly candlestick chart and India VIX triggering a sharp decline towards 18% on the back of aggressive put writing. Bank Nifty outperformed Nifty with a wide margin with the index ending higher than 5% for the week. For the first time after after 8 months FII data in...
Weekly Market Report For 10th – 14th July
Market stabilizes after a steep fall, Q2 earnings season, and Commodity trends dictate trend. Markets posted third straight weekly gains on the back of strong global market cues and broad-based buying in all sectoral indices. Sentiments got a boost as the Reserve Bank of India (RBI) announced a series of measures to attract foreign flows in a bid to protect the local currency amid...
Market Morning Notes 8th July 2022
Markets gained momentum on Thursday with Nifty closing above the critical hurdle of 16123 and Bank Nifty surging by almost 2%. The journey from 16123 to 17500 may turn out to be fast in the near term with Bank Nifty expected to reach 38000. The major punch for the market is expected from the short-covering of FII in the derivatives market and hence large financial stocks are likely to...