Pre Market Analysis – 16th Sep 2021
The market gained after the government cleared the telecom relief package and PLI schemes for another sector to help Nifty close above 17500. The major contribution of upmove in Nifty was seen from technology stocks with Bank Nifty underperforming the Nifty Index. After yesterday upmove, the Nifty IT has hit a roadblock of 10 consecutive weekly highs. With Brent crude crossing above USD 75 a...
Pre Market Analysis – 15th Sep 2021
Markets remained in a narrow range with Nifty facing resistance at 15500 while broader markets like midcaps and small caps managed to outperform the leading index. With NYSE Composite closing below 100 DMA, we can expect global markets to face sustained selling pressure, while Indian markets which are trading at euphoric highs may see mean reversion when support of 17214 in Nifty is taken out...
Pre Market Analysis – 14th Sep 2021
Markets recouped its opening losses on Monday after gains from IT & Metals stocks while Bank Nifty ended lower by 0.6% and Nifty ended above 17350. After yesterday up move, both Brent crude and Natural Gas prices have activated short term breakout, thus opening scope for 10-15% upside in near term. We can expect financials to underperform due to such breakout while Nifty may turn see wild...
Pre Market Analysis – 13th Sep 2021
Markets for the week remained range bound with 17500 acting as a resistance while Bank Nifty continues to remain underperformer. Most of uptrend in Nifty 50 in the past 6 months has been contributed by Non-Banking stocks with Bank Nifty still 3% away from Feb 21 highs. There has been strong negative correlation in Bank Nifty and USDINR and we can expect deeper cracks in Bank Nifty as and when...
Weekly Market Research by Fintoo – 12th Sept 2021
#uid-ead66d3314c9a855 .heading h2 { line-height: 1.6em; font-weight: 400; } Markets flattens at the top in absence of fresh cues Nifty indices once again scaled to record highs in the week gone by as the rally got supported by mid cap and energy counter. Nifty surpassed 17,400 levels during the week but however could not manage to close above that and ended on a flat note....
Pre Market Analysis – 9th Sep 2021
Bank Nifty rebounded from crucial support on Wednesday after Non-Financial stock came under selling pressure while USDINR reactivated monthly breakout on close above 73.60 for a potential target of 77.50. There is a direct negative correlation in USDINR and Bank Nifty and hence we may see wild swings in Bank Nifty in days to come. The Bank Nifty which so far has underperformed the Nifty by...
Pre Market Analysis – 8th Sep 2021
The market saw marginal cooling off on Tuesday with Nifty Bank continue to act as laggard while the Nifty managed to recoup losses and sustained above 17350. The Nifty Bank is 3% away from major breakdown levels and we may see more pressure on markets when USDINR regains above 73.60. U.S indices fell on Tuesday, as worries over the slowing pace of economic recovery overshadowed hopes that...
Pre Market Analysis – 7th Sep 2021
Nifty managed to sustain its gains above 17350 on Monday after support emerged from IT stocks while Nifty Bank remained under pressure throughout the trading session. The ratio of Nifty Bank to Nifty has breached important support of 2.15 in yesterday’s trade and this may activate major selling in banking stocks in days to come. With the law of averages prevailing, we can expect Nifty to come...
Pre Market Analysis – 6th Sep 2021
Indian markets gained almost 4% for the week outperforming most of the global markets and the Nifty closed above the psychological barrier of 17000. With breakout in historical volatility on 26th August, we have entered into a high volatility phase in days to come. This would mean either Nifty has the potential of rally to 18666 or will move lower to 15244. The pivot point for wide swing is...