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...
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...
Weekly Market Research by Fintoo – 10th July 2021
#uid-2d12c0cbcd1bf8a8 .heading h2 { line-height: 1.6em; font-weight: 400; } Nifty turns weak, global cues dents sentiments. Zomato IPO key event to watch out in coming week Markets continued to remain under pressure led by pessimistic global market cues with volatile movement seen across sectors. The Nifty ended tad below the 15.700 mark, down 0.2 pct for the week. Volatility...
Pre Market Analysis – 8th July 2021
Market activity remained restricted in the trading range of 15780-15900 on Wednesday to finally end in positive terrain while Bank Nifty moved closer to its recent high of 35810. There was lack of momentum in large cap stock with 16000 acting as a major resistance. The Nifty G-Sec 10 yr index showed some rebound ahead of Fed minutes but with USDINR crossing above 75.80 in the international...
Pre Market Analysis – 5th Jul 2021
Markets for the week ended lower by almost 1% after trading in the range of 15,620-15,900 with USDINR in strong uptrend. FIIs continued to be net sellers amidst record high valuations with comfort emanating from stabilizing Covid-19 cases in the domestic markets. Globally, Covid-19 cases have re-accelerated and markets retraced from record peaks. For the week all eyes will remain on 15,620 in...
Pre Market Analysis – 30th June 2021
Market extended weakness on Tuesday as Nifty failed to cross the resistance of 15900 and closed around 15750. So far market is stuck in trading range of 15620-15900 since past few weeks and today being monthly closing, we may see strong confirmation of breakout in USDINR on a close above 73.86. This breakout in USDINR should trigger follow up buying in USDINR which may force sharp upward...
Pre Market Analysis – 28th June 2021
Market gained 1% for the week on back of Biden supporting another stimulus in form of USD 1 Trillion infrastructure plain which led to Nasdaq rallying 2.3% in last week. However, despite such positive news, Nasdaq 100 ended in negative on Friday to form a ‘Bearish Engulfing’ pattern on daily chart as it moved into upthrust of rising wedge. The strength in USDINR has already brought...
Daily Market Analysis – 19th May 2021 (Inflation)
Inflation and its impact on an overall economy Retail Inflation in April is 4.3% which is well within the range of RBI. Inflation is measured by the CPI and the wholesale price index (WPI). The CPI measures changes in prices of essential commodities at the consumer level, while the WPI notes changes at the producer level.The commodities considered for measuring the WPI are manufactured...
