PostMortem on Nifty50 Today & Analysis of 28 JUN 2023
Quarterly Analysis of Nifty50 — 31 Mar 2023 to 28 Jun 2023
N50 also rose 11.06% ~ 1888pts, percentage wise same as BN. The price action of N50 was much more healthy with 2 proper legs & occasional retracement that gave it further thrust. If you analyze the pattern from 01 Dec to 28 Jun it looks like a perfect V shape. 16962 support which provided the crucial turn around will be remembered for the next 2 quarters.
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Daily Analysis Nifty50
N50 came prepared today to take out the ATH. During the report yesterday — we did seriously consider this possibility. The momentum really favored the bulls and once RELIANCE started contributing — gains started flowing like a song!
Gap up gave N50 a head start of 0.38%, intraday it swung 1% & finally closing with 0.82% gains.
Whats Next? would be an ideal question now. Indian stock markets are at euphoric levels even without strong retail participation. Once the news hit the common people, will the FOMO kick in?
Stock markets are no way a reflection of what is happening in the economy. The prices of groceries, vegetables, eggs etc are rising day by day — straining the budget of common people. Will the economy rise to match the stock market or will the market falls to be in sync with the economy — only time will tell !
N50 also rose 11.06% ~ 1888pts, percentage wise same as BN. The price action of N50 was much more healthy with 2 proper legs & occasional retracement that gave it further thrust. If you analyze the pattern from 01 Dec to 28 Jun it looks like a perfect V shape. 16962 support which provided the crucial turn around will be remembered for the next 2 quarters.
--
Daily Analysis Nifty50
N50 came prepared today to take out the ATH. During the report yesterday — we did seriously consider this possibility. The momentum really favored the bulls and once RELIANCE started contributing — gains started flowing like a song!
Gap up gave N50 a head start of 0.38%, intraday it swung 1% & finally closing with 0.82% gains.
Whats Next? would be an ideal question now. Indian stock markets are at euphoric levels even without strong retail participation. Once the news hit the common people, will the FOMO kick in?
Stock markets are no way a reflection of what is happening in the economy. The prices of groceries, vegetables, eggs etc are rising day by day — straining the budget of common people. Will the economy rise to match the stock market or will the market falls to be in sync with the economy — only time will tell !
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