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
#uid-24d26100b9d2097f .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 – 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,...
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...
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...