Pre-Market Analysis for 6th May 2022
Markets cooled off from day’s high to end on a flat note yesterday forming an inside bar pattern on a daily candlestick chart. An inside bar often occurs ahead of the intermediate bottom hence we can expect a major turnaround in the market in the next 2-to 3 sessions. The India VIX also cooled from the resistance of 22% mark to end with losses of 8%. For the market to see a...
Pre-Market Analysis for 05th May 2022
Markets reacted sharply on the downside to the surprise 40 bps hike in repo rate and 50 bps hike in CRR by the RBI in a mid-policy review. This forced Nifty to test the much-awaited support levels of 16671. After yesterday’s decline, the correction phase in the market may have ended and we expect a blowout rally in Nifty post 10th May. The India VIX also tested the 22% resistance mark in...
Pre-Market Analysis for 04th May 2022.
We Expect the market to open on a positive note on account of the global market rally in the last two trading sessions. Market expected to be range-bound today ahead of important events – US Fed policy meeting (11.30 pm) and mega LIC IPO commence from today. SGX Nifty is up marginally against the previous day’s close. We expect the market to pick up steam post 10th of May and...
Pre-Market Analysis For 2nd May 2022
Markets for the week ended lower with the Nifty declining by 0.5% after it failed to sustain above the key resistance of 17140 as India VIX continued to trade above the 19% mark. The short-term correction in the market may be completed once the Nifty hits 16671 and is likely to be followed by a rally towards 19867 till May end. The broader index namely the Nifty 50 equal-weighted...
Pre Market Analysis For 29th April 2022
Markets ended higher yesterday led by support from key index heavyweights. FIIs turned net buyers (net sellers in the last 14-trading sessions) and stable oil prices also supported the sentiments. Today, we expect the market to open on a positive note on account rally in the global markets. The overall view remains positive for a target of 19867 by May end on a positional basis. The...
Pre-Market Analysis For 28th April 2022
Markets remained under pressure on Wednesday on the back of Nasdaq hitting 52-week low and continuous FII selling which forced the Nifty to close around 17000 levels. The India VIX also jumped 7% to end around 21% but still remains under the critical support zone of 22%. Nifty is likely to test 16671 before it resumes its upmove towards 19867 with India VIX being necessary to trade below...
Pre-Market Analysis For 27th April 2022
Markets opened with a gap up on Tuesday led by gains in auto and financials to post-closing above the key resistance of 17140 despite pressure in the global markets. The India VIX also cooled off from highs of 21.75 to close around 19 but remains elevated above critical levels of 16%. There remains a high probability of Nifty testing 16671 in the coming days before it resumes its journey...
Pre-Market Analysis For 26th April 2022
Indian indices yesterday finished the session weak in line with global indices due to below-par earnings results, adding fresh concerns to elevated inflation, oil prices, war uncertainties and supply issue. The Nifty failed to test the support of the trading range, which is placed at 16671. The Nifty Bank outperformed the markets and ended on a positive note led by resilience in HDFC...
Fed Rates Potential Impact on the Indian Market
When America sneezes the world catches a cold! I am sure you must have heard this ample times ever since the 2008 recession. The US has been a global leader and its policy affects the entire world. Most of the world trade is carried with the help of US dollars which serves as a medium of exchange to facilitate trade. The dollar is considered to be a global reserve currency. The U.S Fed had...