Pre Market Analysis – 9th Aug 2021
Markets scaled to new highs and ended with gains of 3% for the week on the back of another round of stimulus in US markets. Although Nifty has surpassed above 16200, the breadth of the market has begun to deteriorate at higher levels and major activity has seen in stocks listed in ADR & GDR of Indian companies. For the week, the trading range for Nifty is seen between 16000-16350 and a...
Weekly Market Research by Fintoo – 8th Aug 2021
Indian market rallied 3% for the week after the U.S. Senate approved another infrastructure stimulus worth $1 trillion to support the US economy. At the time when rent moratorium was coming to an end, this package acted as a booster shot to global financial market. Although, Nifty has managed to close above 16,000 levels, the risk levels remains highly elevated due to rise in historical...
Pre Market Analysis – 6th Aug 2021
Markets cooled off from day’s high after testing the resistance of 16350 to end above 16250 and formed a Doji star on candlestick chart. The breadth of the market continues to remain negative by more than 1:2 as action remains specific to few large caps stocks. The 21-day historical volatility for Nifty 50, has been rising steadily in July and has moved higher from 6.86% to 11% recently. This...
Pre Market Analysis – 5th Aug 2021
Markets witnessed divergent trade in broader indices with Nifty inching further higher to close above 16250 while midcap and small cap index formed bearish dark cloud cover on candlestick charts. A bearish dark cloud after an extended rally confirms major tops and with advance: decline turning negative to 1:2, the strength in Nifty may not last for long. The trading range for today’s trading...
Pre Market Analysis – 4th Aug 2021
Market witnessed breakout of trading range of 15620-15900 on Monday after large cap stocks came back into action to lift Nifty above 16100 and Bank Nifty above 35200 levels. With yesterday’s up move, the Dollex 30 i.e. Sensex in USD terms has managed to cross above Feb 2021 highs and from here on, 16070 in Nifty will act as an important reversal on closing basis. The sharp surge in India VIX...
Pre Market Analysis – 3rd Aug 2021
Indian market rallied on Monday amidst positive global cues with Non-financial stocks including midcap and small index outperforming the broader markets while Bank Nifty failed to cross resistance of 34900. The Nifty is currently placed at critical juncture with 15,950 acting as a stiff resistance which has been prevailing since last 50 calendar days. The main risk for Indian markets now also...
Pre Market Analysis – 2nd Aug 2021
The Nifty for the month of July remained range bound with trading activity restricted in a narrow range of 15,630-15,960 and formed Doji star on monthly candlestick chart. A Doji star pattern is a sign of indecisiveness and often a signal of market tops after an extended uptrend. With FIIs turning net sellers in cash market on continuous basis and DIIs accumulating 58% of short positions in...
Weekly Market Research by Fintoo – 31st July 2021
Market end volatile week lower; Outlook remains cautious Nifty for the week remained highly volatile and rebounded after moving below short term moving average of 50 DMA and finally closed with losses of less than 0.59% to 15,763 levels. The FIIs have turned aggressive sellers for the month of July by selling more Rs 25,000 crore in the cash market which remains a major cause of worry for...
Pre Market Analysis – 30th Jul 2021
Nifty managed to post gains of less than 0.5% to close above 15760 on Thursday after the Metal sector rose by more than 4% while Bank Nifty under performed. The Nifty has been hovering in a narrow band in the past few days and selling pressure is likely to resume on a move below 15760 in the opening hours. Meanwhile, GBPINR has activated major breakout above 103.5 which may have negative...