Market Morning Notes For 4th March 2024
Markets for the week ended with gains of less than a percent but was able to penetrate the resistance of 22,300 after an intense battle, thus paving the way for a meaningful upside in the near term. The breakout in Nifty futures has clearly been established and we expect an immediate upside target of 23,400 to be achieved in the next 10-15 trading session. Meanwhile, a rebound in Bank Nifty...
Weekly Market Outlook From 4th Dec to 8th Dec 2023
Nifty hits 21K mark; Fed, BoE, ECB meetings in focus Benchmark indices gained for sixth straight week on back of strong macroeconomic data, optimism surrounding U.S. rate cut in March, and the ruling BJP’s win in three key state elections. Global markets were firm buoyed by improved sentiments worldwide regarding the end of the rate hike cycle. The Nifty ended up 3.5 pct to 20,969...
Market Morning Notes For 22nd Sept 2023
Markets witnessed heavy selling on Thursday led by Bank Nifty which saw breach of short-term support of 50 DMA after 1.6% decline and also followed with closing below the support line extended from low of 16 March 2023. The large-cap stocks have shown signs of wider cracks due to intense FII selling and we expect selling to aggravate further if the current week closing occurs below 19730. In...
Market Morning Notes For 6th Sept 2023
Markets witnessed a euphoric upmove in broader markets especially the midcap and small-cap segment despite USDINR crossing above 83 and Brent trading above 90$. A similar euphoric phase in the midcap and small-cap phase was witnessed in 2008 when the monthly RSI displayed V-divergence from the overbought zone and prices followed with a steep decline. Currently, Brent crude prices have crossed...
Pre Market Analysis – 13th Dec 2021
Markets last week ended higher with 2% with broader markets outperforming leading indices but rupee remained under pressure. On the long term chart, Nifty has violated the long term support line and has closed below the same for 3rd consecutive week. The weekly support line henceforth will turn into resistance and Nifty for the week is likely to exert pressure around 17650-17850 in near...
Pre Market Analysis – 27th Oct 2021
Markets recouped Monday’s losses for broader markets after Nifty sustained its crucial support of 18034 and Nifty Midcap and Small cap index ending higher by 2%. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. Results...