Pre Market Analysis – 8th Oct 2021
Market bounced sharply after US Senate increased debt limit by $480 Bn averting major debt default later this month. Nifty rallied by 1% but late selling forced Nifty to close below short-term resistance of 17802. Currently USDINR has signalled a breakout for a possible target of 78 in days to come and with such high bullishness in USDINR, Nifty and Nifty Bank are unlikely to sustain at...
Pre Market Analysis – 7th Oct 2021
Markets reacted sharply yesterday to depreciating rupee after USDINR crossed 74.60 mark and forced Nifty to end with losses of 1% while Bank Nifty settled below 37708. A breakout above 74.60 has opened gates for 80 in weeks to come and we can expect major hit to occur in Bank Nifty which is struggling to sustain above Feb 21 highs. Bank Nifty is currently 2% away from major breakdown and...
Pre Market Analysis – 19th Jul 2021.
Indian equity market is likely to open lower on Monday following losses in global peers as fears of rising inflation and a relentless surge in Delta variant of the coronavirus in Asian countries dampened investors’ risk appetite. The SGX Nifty is showing a gap down opening of 200 points. The short term reversal of rising wedge will be activated on close below 15850 and should force Nifty...
Pre Market Analysis – 7th July 2021
Nifty witness sharp reversal from highs of 15900 and ended in the red after India 10-year bond prices suddenly fell more than 0.5% to close at day’s low. The sharp sell-off in bond prices also had an impact on Rupee with USDINR ending above 74.50 and is now positioned to cross 76 in the next few days. For Nifty, the two- weeks of trading range may see major breakdown below 15,620 on a...
Pre Market Analysis– 2nd Jul 2021
Markets ended in the red for the fourth consecutive trading session but failed to close below crucial support of 15,620 despite pressure in rupee. The volume activity was well below average as large cap stocks missed sense of direction and selling was visible around 15800 in Nifty. With Nifty Bank closing below 34,900 for the second consecutive trading session, aggressive selling is expected...