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Fintoo Market Morning Notes For 29th Aug 2023

2m · Fintoo · 29 Aug 06:33

Markets attempted a rebound on Monday on the back of upbeat global markets but failed to extend beyond 19,350 which was followed by marginal gains to end around 19,300. The rise in India’s VIX above 12% exhibits caution as the next leg of decline could have severe repercussions.

The spread of Nifty 50- Nifty 500 index which is a mere difference in values of the index suggests aggressive shorting is taking place in high market cap stocks to create a synthetic hedge in the broader markets. The next decline trigger may come from US markets after USDJPY reaches crucial resistance and most of the time extended decline in US markets has been triggered from a sharp decline in USDJPY.

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The episode Fintoo Market Morning Notes For 29th Aug 2023 from the podcast Fintoo has a duration of 2:55. It was first published 29 Aug 06:33. The cover art and the content belong to their respective owners.

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Fintoo Market Morning Notes For 27th Sept 2023

Markets activity turned laggard on Tuesday with cash market turnover declining to Rs 65,000 crores ahead of the uncertainty of the U.S. Government shutdown with Sensex sustaining below 50 DMA. The outlook for markets remains cautious after U.S. Indices traded below its major breakdown. For Nifty, crucial support is seen at 19,600 below which, we may see an immediate hit towards 18,800.

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Fintoo Market Morning Notes For 26th Sept 2023

Markets ended unchanged on Monday and formed a doji star on the candlestick thus indicating signs of indecisiveness as it moves closer to important trend line support. The low of Dojistaris placed at 19601 and should act as an important trigger for the activation of the next round of selling and any move below 19600 should force Nifty to test 19200 in a quick span of time. Adding to it, a bullish island reversal was also seen in USDINR in yesterday’s session which has the potential to trigger a sharp move towards 87. The overall observation suggests markets are on the verge of a major breakdown which has the potential to trigger 10-15% in the very immediate future.

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Fintoo Market Morning Notes For 21st Sept 2023

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 immediate target of 18,200 on breach of 19,265 in Nifty futures.

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Fintoo 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.

An immediate upside projection of India VIX is seen at 14 on a move above 12. For Sensex, crucial levels to be watched would be 67619 on a closing basis as most of the time major tops are formed in the area of earlier peaks and in Nifty terms reversal to be confirmed on a close below 19830. Markets are unlikely to sustain higher levels if India VIX keeps on a steady rise and would be seen as a major sign of a bull trap.

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Fintoo 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 bearish engulfing pattern on daily candlestick and is likely to active next round of selling in the broader markets. The rise in India VIX should be seen as a lead signal of major decline for Indian markets and a move past 14 may eventually force Nifty below 19,000 levels in a quick span of time.

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