Market Morning Notes For 14th Sept 2023
Markets activity remained tilted towards large cap with Sensex moving closer to its all-time peak despite India VIX posting gains. After yesterday’s up move India VIX has moved closer to breakout and a move above 12 should be seen as a major sign of strong Put option accumulation in markets and an initial leg of unwinding may be faced by high beta counters especially midcaps and small caps....
Market Morning Notes For 13th Sept 2023
Markets cooled from day’s high to end on a flat note after broader markets corrected sharply with Midcap and Smallcap Index declining over 3% and India VIX surging above the 11.5 mark. Brent crude too has crossed USD 92 a bbl mark and should be positioned to test USD 107 a bbl in the coming week after the recent breakout. The Nifty 500 Index has confirmed major reversal with formation of...
Market Morning Notes For 12th Sept 2023
Markets scaled to new highs on the back of retail buying with Nifty 50 hitting an all-time high while Sensex 30 is still away by 0.7% and India VIX surged by 5%. The markets have entered into a crucial juncture from where reversal would have serious implications, and this can be gauged from the formation of the rising wedge in ‘Next Notes Nifty 2x Leverage ETF’ which is widely traded in the...
Market Morning Notes For 4th Sept 2023
Markets witnessed a sharp jump on Friday which helped Nifty to end 5 weeks of losing streak and post weekly gains of closer to 1%. Friday’s rebound was mainly on the back of retail euphoria which suddenly pumped an additional Rs 32,000 crore into the system compared to the previous day and this may be termed as unusual buying to protect weekly closing. Friday’s up move has the maximum...
Market Morning Notes For 1st Sept 2023
Markets confirmed major trend reversal after Sensex closed below long-term support of 64,836 thus activating a bearish engulfing line on a monthly candlestick chart. This move is significant as most of long-term investors may use this signal for long liquidation unless a new buy signal emerges on a monthly basis. The immediate downside projection is seen 12% lower which turns out to be 57,084...
Market Morning Notes For 31st Aug 2023
Markets failed to carry opening momentum on Wednesday despite positive global market cues and finally ended unchanged. In fact, Nifty 50 retreated before touching 19,467 which clearly indicates bulls have lost control of the markets. Today being a monthly losing, it would throw necessary signals for long-term investors about the trend change. A negative closing of -0.38% or below 64836 in...
Market Morning Notes For 18th Aug 2023
Markets broke crucial support on Thursday with Dollex 30 Index i.e., Sensex in USD terms breaching the support line occurring on 1st Dec 2022 thus opening gates for a 20% decline in the near term on a long-term basis. Markets tend to remain strong as long they hold comfortably above the previous highs, while below the same – turns the recent breakout void. In Nifty terms, we expect an...
Market Morning Notes For 17th Aug 2023
Markets opened lower on Wednesday on the back of weak global cues but recouped losses to close above 19,450 on the back of a recovery in Auto and IT stocks while Bank Nifty ended with losses. The crucial trigger for markets may come from the movement of USDINR which has been sustaining above major breakout levels of 83 and a surge in USDINR may open renewed selling in India’s ADR & GDR...
Market Morning Notes For 16th Aug 2023
Markets managed to recoup losses on Monday to end unchanged despite breaching an intermediate low of 19,296 in early trading hours. The breakout in India VIX above 11.5 along with USDINR sustenance above 83 in international exchanges poses a major threat to the Indian markets. The rise in USDINR would provide early indications about unwinding in long positions in Indian offshore indices like...