Market Morning Notes For 24th May 2022
Markets gave up their opening gains on Monday on the back of an 8% fall in the Metal Index with the Nifty ending in marginal negative terrain but well above 16,123. The FII selling in the past few days has seen a drastic reduction and on the other hand, has started building long positions in the futures segment which is a sign that they have already unwounded most of their positions in...
Market Morning Notes For 23rd May 2022
Markets for the week made a sharp comeback with Nifty and Bank Nifty gaining over 3% but Metals and Technology indices suffered major damage with Nifty closing above the key resistance of 16,123. The weekly closing above 16,123 has confirmed a major trend reversal from a downtrend with immediate upside seen at 17,200 for a week and beyond. The recent sell-off from broader markets may be...
Market Morning Notes For 20th May 2022
Market succumbed to selling pressure on Thursday on the back of weak global markets. Sharp selling in Indian markets was mainly led by deep cuts in the technology and metal sectors, which were down more than 5%. Although Nifty and Bank Nifty still have failed to violate their March 2022 lows, but broader market has seen significant lows and has been going through a sharp portfolio...
Market Morning Notes For 19th May 2022
The market remained range-bound on Wednesday with Nifty and Bank Nifty ending in marginal negative terrain while the breadth of the market remained positive. At the current juncture, for the up move to sustain, the leadership should change to Bank Nifty as the ratio of Bank Nifty to Nifty is attempting a major breakout. We can expect 16123 to act as crucial support on a closing basis...
Market Morning Notes For 18th May 2022
Markets confirmed a major reversal on Tuesday after Nifty formed a ‘Bullish Belt-hold line’ setup on daily candlestick and surged higher by 2.5% on LIC listing day to close above the key resistance of 16,123. The breadth of the market remained highly positive but volumes remained on the lower side on the back of lack of participation. We can expect a major slide in...
Market Morning Notes For 17th May 2022
Markets witnessed low activity trade in terms of volume on Monday with total volume in the cash market failing to cross the Rs. 50000 cr mark despite gains in the financial and automobile sector. The surge in Brent crude prices above USD 110 a barrel has raised inflation fears across the globe and has capped further inflows inequities in the past few days. Today, all eyes...
Market Morning Notes For 16th May 2022
Markets for the week remained under pressure with the Nifty closing lower by almost 4% while high beta sectors like Metals and Energy declined by more than 10% putting pressure on the broader markets. However, at the current juncture, the Nifty 50 equal-weighted index has completed the setup of ‘Bullish Flag’ after weekly closing near the support zone, and the market may see...
Market Morning Notes For 13th May 2022
Markets witnessed intense selling after the sell-off in global markets forced the Nifty to breach key turnaround support of 16123 to end near 15800 closer to March 2022 lows. With the recent decline, the Nifty 50 Equal Weight index has thrown up a ‘Bullish Flag’ setup with an upside potential of 20%. We thus expect the Nifty 50 to trigger a major reversal on close above...
Market Morning Notes For 12th May 2022
Markets continued to feel the heat of broad-based selling while Nifty & Bank Nifty remained more or less resilient to weakness in the broader markets. In fact, Bank Nifty has managed to post gains for the second straight trading session despite the carnage in global equities while the technology and metal sectors have been taking a major beating in the past few days. For Nifty,...