– Tuesday’s session was considered a pink rally day as the market made a rebound from the day’s low and closed in the upper half of the day’s range, making it the first day of an attempted rally. The Nifty managed to stay above Tuesday’s low of 10,583, yesterday as well as today.
– As today’s action qualifies as day three of an attempted rally, we are changing the status of the Indian market to a Rally Attempt from a Downtrend. Continue reading “Market Status Changed to Rally Attempt”
Today’s Action
Nifty, 0.00%, Sensex, 0.00%, Model Portfolio, +0.75%; MSI Ind 47, +0.4%, Nifty Midcap, +0.5%, Smallcap +0.6%.
Daily Market Review
Market Status: Downtrend.
We changed the market status to a Downtrend on January 28 after the Nifty breached its key moving averages at a time when the distribution day count was 5. Continue reading “Daily Big Picture – Nifty Ends Flat After a Range-Bound Session; Midcap and Smallcap Stocks Outperform”
Today’s Action
Nifty, -0.1%, Sensex, -0.2%, Model Portfolio, -0.4%; MSI Ind 47, +0.7%, Nifty Midcap, -0.1%, Smallcap -0.1%.
Daily Market Review
Market Status: Downtrend.
India’s benchmark indices had support at the 50-DMA last week, before plunging lower yesterday. As the Nifty breached its 50-DMA and the distribution day count stood at five, we moved the market to a Downtrend yesterday. Continue reading “Daily Big Picture: Nifty Ends Flat After a Volatile Session; DHFL Falls 8.2%”
As this is an election year, the Indian government will present an Interim budget, which is different from a Union budget and Vote of Account. In the Interim budget, income tax rules can be tweaked, but most governments have chosen not to make any major changes. A Vote of Account enables government to fund its expenses till the full budget is passed. They cannot do any changes in direct taxation as it needs to be passed through a Finance bill.
Sector Expectations
Auto
The Auto industry wants the government to announce a one-time incentive in the form of a tax rebate for replacing vehicles Continue reading “Special Article : Interim Budget Expectations and What to Look for”
India’s benchmark indices had support at the 50-DMA last week, before plunging lower today. With the Nifty breaching its 50-DMA, and distribution day count at five, we moved the market in a Downtrend.
– The market status was downgraded to an Uptrend Under Pressure on December 24, and since then, the Nifty was trading range bound and unable to sustain gains. Continue reading “Market Status Changed”
