Market Morning Notes For 29th March 2023
The market witnessed listless trading activity with Nifty forming a lower high and higher low setup after a Doji star on the previous day. This setup indicates that breakout would now be activated on a move above 17,060 for an immediate reaction towards 17,500. The last few days of the financial year end are seen as portfolios realigning towards low volatility stocks and hence, we can expect...
Market Morning Notes For 28th March 2023
Market activity on Monday turned range bound between 16900-17100 after an initial gap-up opening. But late selling in midcap and small-cap counters forced Nifty to end with marginal gains and formed an indecisive signal of Doji Star. The announcement of Russia planning to put nuclear weapons in Belarus acted major dampener in recovery in the global market. The movement in S&P Dollex...
Market Morning Notes For 27th March 2023
Nifty last week tried to defend support of 16800 and managed to restrain weekly losses to less than 1%. Such capitulation was possibly mainly on the back of a rebound from S&P Dollex 30 i.e., Sensex in USD terms which was able to firmly hold the neckline of the inverted Head & Shoulders pattern which was bullishly activated in the month of Nov 2022. This breakout failed to carry...
Market Morning Notes For 24th March 2023
Markets ended lower after a failed attempt to surpass 17,156 in Nifty, mainly on the back of selling in financial stocks. The sharp drop in USDINR led the Dollex 30 index i.e. Sensex in USD terms to end on a flat note, thus implying overall strength in the market. With India VIX on the verge of triggering a major breakdown below 14.30, we expect Indian markets to gain momentum on the cross...
Market Morning Notes For 23rd March 2023
Market activity remained laggard on Wednesday ahead of the crucial Fed meet and merging of settlement which led to Nifty inching marginally higher but failing to cross 17156. The Fed raised key rates by another 25 bps, however, the commentary suggested some additional policy firming. However, it is the comment from Treasury Secy Yellen that spooked the markets- she says not considering a...
Market Morning Notes For 22nd March 2023
Markets managed to end at the highest point of the day after an initial gap-up opening on Tuesday but failed to cross the crucial hurdle of 17156 in Nifty Index. The high of the bullish hammer appearing on Monday’s trading session was taken out on a closing basis, thus putting more firepower for bulls to trade higher for the next few days and more leg of buying is likely to emerge once Nifty...
Market Morning Notes For 20th March 2023
Markets last week remained under pressure but recovery on Friday trading session helped key indices to trim losses to less than 2%. The BSE Sensex has formed a typical bullish expanding triangle which has added significant confusion due to higher high and lower low and has recently tested the long-term breakout line or neckline of head & shoulder bottom. With broader markets showing...
Market Morning Notes For 17th March 2023
Markets exhibited signs of strength as the broader index namely the Nifty 50 equal weighted Index failed to trigger a closing below the support line, thus helping the Nifty 50 to end in the marginal positive terrain. The Sensex has tested the lower end of the bullish expanding triangle and hence we may witness a major trend reversal on Sensex closing above 57,630 in today’s trading...
Market Morning Notes For 16th March 2023
Markets made one more attempt to cross 17,205 on Wednesday but the last hour of selling forced Nifty to settle below 17,000. Currently, the broader markets have seen a good amount of strength, but large stocks are unable to post-recovery. The Nifty 50 Equal weighted Index also indicates the completion of a falling wedge setup and suggests that broader markets are poised for a major recovery....