Pre Market Analysis – 23rd Aug 2021
The benchmark indices ended the volatile week on a negative note. After rallying 7.7% from the July month’s low, Nifty snapped its two-week winning streak. Nifty failed to carry on the previous week’s momentum beyond 16,500 to finally end with losses of 0.5% and formed small bearish shooting star on weekly candlestick. The low of shooting star will be critical in coming days which stands at...
Pre Market Analysis – 20th Aug 2021
Market saw sharp U-turn on Wednesday to end in the negative terrain after opening with a gap up. The prices were unable to sustain above 16,650 for too long and ended with Bearish Dark Cloud Cover on daily candlestick chart. An appearance of dark cloud cover after an extended rally confirms end of bull’s capacity to take prices higher and any gap down opening followed after such a pattern...
Pre Market Analysis – 18th Aug 2021
Markets witnessed a mixed trend on Tuesday with technology stocks driving the rally in Nifty while the breadth of the market continued to remain poor with an advance-decline ratio of 1:2.5. Nifty surpassed the previous day high of 16,600 but failed to cross the 16,650 mark which turns out to be intermediate resistance. After yesterday’s up move, some of broader indices like S&P Dollex 100...
Pre Market Analysis – 17th Aug 2021
Market remained under pressure on Monday as Nifty Bank, Midcap & Small cap index ended in negative terrain while Nifty managed to post marginal gains and ended above 16,500. The deteriorating market breadth is sending warning signal for markets as rally is turning narrower day by day just to manage a positive closing in Nifty & Sensex. Yesterday, the Nifty Midcap 100 index activated...
Pre Market Analysis – 16th Aug 2021
Market witnessed divergent trend last week with Nifty & Sensex gaining 2% while Midcap index ending lower by 1.5%. The breadth of market remained negative for most of trading sessions last week with midcap and small cap ending in the negative terrain even on Friday. Such wide divergent often lead to market tops as rally remains concentrated in few stocks or may be driven by short...
Weekly Market Research by Fintoo – 14th Aug 2021
#uid-9ab0a97861ac78b5 .heading h3 { line-height: 1.6em; font-weight: 400; } Nifty extends gains, attains fresh all-time high Nifty for the week rose for the second straight week to post gains of around 2% and closed above 16,500 levels while broader markets continued to remain under pressure with Nifty MidSmall 400 Index closing 1.5% lower. Investor sentiments got a boost as...
Pre Market Analysis – 13th Aug 2021
Market rallied on Thursday on back of gains from technology index which surged by 2% to force Nifty to close above 16350. However, as ratio of nifty to USDINR has been oscillating in setup of rising wedge, the Nifty remains vulnerable to sharp sell-off below 16162. Adding to it, the Nifty Smallcap 100 index has also confirmed a major reversal in the past few days and may restrict upside gains...
Pre Market Analysis – 12th Aug 2021
Market activity on Wednesday remained range-bound with selling pressure visible in the broader market and Nifty Midcap 100 ending at crucial support. For Nifty ‘hanging man’ formation was seen on a daily candlestick, which often marks a trend reversal signal after an extended uptrend. The crucial support is seen at yesterday’s low i.e. 15162 on a closing basis while resistance is seen at...
Pre Market Analysis – 11th Aug 2021
Nifty gains on Tuesday were capped below 0.2% after selling in broader markets forced Nifty to end below its opening levels. With the advance-decline ratio falling to 1:5, the Nifty Midcap 100 index witnessed maximum selling and is 0.5% away from a short-term breakdown. For Nifty, the crucial range stands between 16080 and 16350 with bias remaining negative. Results today- Cadila Healthcare,...