Pre Market Analysis – 28th Jul 2021
Markets decline on Tuesday was mainly led by Non-financial sector with Pharma taking a lead role in decline while Bank Nifty restricted its losses to less than 0.5%. The Nifty managed to break its key support of 15760, thus breaking support line of rising wedge and markets are positioned to hit 15100 in the next few days. The down fall trigger for Nifty may come from breakdown in Nifty...
Pre Market Analysis – 27th Jul 2021
Markets activity remain listless on Monday with Nifty oscillating in a narrow band of 15797-15893 and ended with small spinning top pattern on candlestick. The market is eyeing key event of Fed meet scheduled this Wednesday and Fed comments on tapering of massive stimulus. For the month, FII have sold more than Rs 14000 cr in spot exchanges and hence entire market is surviving on liquidity of...
Pre Market Analysis – 26th Jul 2021
Nifty last week remained largely range bound between 15,620-15,900 with action mainly restricted to small cap and midcap segment. With negative weekly closing, the Nifty remains weak and we may see renewed selling on close below 15,760. So far, major contributor for Nifty’s upward journey has been non-financial segment which contributes 65% weightage within Nifty 50. We may see significant...
Weekly Market Research by Fintoo – 24th July 2021
#uid-c336fcef7e3edebd .heading h2 { line-height: 1.6em; font-weight: 400; } Markets drop in a volatile week Benchmark indices ended with small losses in a volatile trading week led by positive global market cues and a good start to Q1FY22 earnings season. Activity in the primary markets too remained upbeat which supported the overall sentiments. Global markets remained firm...
Pre Market Analysis – 23rd Jul 2021
Stock Market recovered its losses registered on Tuesday with Nifty gaining 192 points or 1.2% for the day. Gains were largely led by Infosys, ICICI Bank and Reliance Industries. The Nifty Metal index gained 3% and was the top sectoral gainer. For today’s trade, Q1FY22 results of Reliance Industries will be in focus. In addition, Zomato will list its shares on exchanges today after its initial...
Pre Market Analysis – 20th Jul 2021
Markets tumbled on back of weak global cues with maximum impact seen in financial stocks on Monday with Nifty financial services index declining by 2% and Nifty 50 closing below 15850. A close below 15850 has confirmed short term reversal in key indices and Nifty should see test of 15000 in coming days. The main focus event in yesterday’s trade was USDINR, which activated massive breakout...
Pre Market Analysis – 19th Jul 2021.
Indian equity market is likely to open lower on Monday following losses in global peers as fears of rising inflation and a relentless surge in Delta variant of the coronavirus in Asian countries dampened investors’ risk appetite. The SGX Nifty is showing a gap down opening of 200 points. The short term reversal of rising wedge will be activated on close below 15850 and should force Nifty...
Weekly Market Research by Fintoo – 17th July 2021
Stock Markets scaled new highs and registered first weekly gains in three with the Nifty closing a tad below the 16,000 mark as a good start to Q1FY22 results season, declining new Covid-19 cases supported sentiments. Dovish remark of Federal Reserve Chairman Powell in his testimony despite surge in inflation comforted global equities including India. Meanwhile, the Reserve Bank of India...
Pre Market Analysis – 16th Jul 2021.
Markets rallied on Thursday to close above 15,900 in Nifty after the U.S Federal Reserve testified that the central bank was is no hurry to pare purchase of stimulus which are currently running at $120 bn monthly. The global markets cues helped Nifty to surpass the trading range of 15,620-15,900 which was prevailing since last one month. However on daily basis, Nifty has oscillated in the...