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we can expect major short covering after Nifty 50 surpasses 17615 and this may trigger quick up move towards 17800 in even on today’s expiry day.
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Markets made a sharp reversal on Tuesday as the gap down failed to force Nifty futures below VWAP support of 17250 and was followed by a convincing close above 17500 in the Nifty 50 Index.
Major gains were seen from Bank Nifty which ended with a reversal pattern of ‘Bullish engulfing line’ on daily basis.
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Markets extended weakness on Monday on the back of carnage in global markets as investors turned cautious ahead of the jackson hole meeting scheduled on 26th Aug where the U.S. Fed speech could re-focus on inflation trajectory and global central banks on policy stance.
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Markets last week took a breather with Nifty 50 closing below the earlier weekly breakout line placed at 17775, leading to ‘Doji star’ on the weekly candlestick chart.
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Robo Advisory in Wealth Management – A concept that was unimaginable at one point of time, has become a reality today. Keeping in mind the current position of Robo Advisory in India, do you think Robo Advisory is the choice of the future? Will it be able to meet the expectations or replace assisted advisory?
Know what the FinTech experts have to say about the future of Robo Advisory in India in our latest episode of FFC series – Decoding FinTech with Manish and Anu.
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Struggling to make your salary last an entire month may be a sign of money mismanagement and may lead to long-term financial disbalance.
So, before it’s too late, start practicing these expert-recommended ways to ensure optimum utilization of your salary and proceed towards a financially stable future.
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With FII buying in spot and derivatives market, Nifty is now prone to a major short squeeze in days to come as call writers would be forced to cover positions as weekly could be above 17500.
We expect a major upswing in Nifty above 17700 with Bank Nifty eyeing a target of 42000
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From dialing the number on landlines to switching between finance news channels on TV, and today, simply tapping the screen of your mobile - the way people seek financial advice has changed with advancements in technology. Today, though we have the latest technology and several qualified financial advisors at our disposal, what remains is the search for trusted, reliable, and effective advice.
Today’s episode of the FFC Series, Decoding Fintech with Manish and Anu will help you understand the impact of technology on financial advisory and guide you to select the right financial advisor.
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The spread of Nifty 50- Nifty 500 has been widening day by day and this is a clear indication of money diverting from broader markets to Nifty 50 stocks. We expect Nifty 50 to trigger major short covering in days to come with an immediate target placed at 18612.
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We expect Nifty to test the upper range of the trading zone which is placed at 18612 in the coming days with a major contribution expected from large-cap banking stocks.
The Nifty 50 Equal weighted Index has also confirmed a breakout from 10 months of consolidation which may attract the attention of FIIs to infuse more funds into the markets.
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