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 – 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 – 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...
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 – 22nd Jul 2021
Nifty remained under pressure on Tuesday with selling from banking stocks as Bank Nifty closed with losses of 2% while Nifty ended well below 15650. Nifty currently remains positioned to hit 15100 in next few days as it has confirmed rising wedge breakdown below 15750 and same support will act as a major resistance. The FII suddenly sold nearly Rs 10000 crore in spot and futures markets in...
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...