Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Market Commentary

| More

Profit booking seen in last hour of trade: Angel Broking

Posted On: 2020-07-08 04:00:42


Market Wrap-up by Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking):

"Post opening on a flat note, Nifty traded in a narrow range for most part of the session today. However, it corrected sharply in the last hour of the trade and ended the day with a loss of about a percent.

In last couple of sessions, the Nifty has traded in a narrow range while the Bank Nifty has shown relative outperformance. As highlighted in our earlier report, post the recent sharp run up, Nifty has now approached the resistance zone of 10800-11000 which coincides with the '200 DMA'. In the last hour today, the index witnessed a strong bout of profit booking and the BankNifty index too gave up all the day's gains from its resistance zone. Near the important resistances, such bouts of profit booking are much expected and hence, we have been advising recently to avoid aggressive positions. The coming session would be crucial where 10630-10700 would be the support and if this gets breached, then we could some extension of profit booking towards 10500. On the flipside, 10850-11000 continues to be the resistance zone.

In the first half today, there were many stocks which continued to provide good trading opportunities. Such opportunities may now not be easy to spot and thus traders are advised to be vigilant on the index movement tomorrow and avoid aggressive positions. However, having said that, we would also like to mention that as of now there are no signs of a trend reversal and next 2-3 sessions would be important to determine the near term trend."


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Daily Markets - August 5, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - August 5, 2020 - Bonanza Portfolio

Market remains volatile ahead of RBI Policy, midcaps to outperform: Angel Broking

Technical View - August 5, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty resumes momentum led by heavyweights: Angel Broking

Daily Markets - August 4, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - August 4, 2020 - Bonanza Portfolio

Technical View - August 4, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - August 3, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Banking drag indices lower at start of the week: Angel Broking

Technical View - August 3, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Derivatives Strategy - Sell Bank Nifty 6 August 20600 Put at Rs. 115-135 - ICICI Securities

Nifty snaps six-week winning streak, still 11000 defended successfully: Angel Broking

Rollover Report for July - Aug 2020 - Angel Broking

Daily Market Commentary - July 31, 2020 - Bonanza Portfolio

Technical View - July 31, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 29, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Market wobbles at 4-month high, Reliance sees profit booking: Angel Broking

Daily Market Commentary - July 29, 2020 - Bonanza Portfolio

Technical View - July 29, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 28, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Nifty reclaims 11300 after four months: Angel Broking

Daily Market Commentary - July 28, 2020 - Bonanza Portfolio

Technical View - July 28, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 27, 2020 - Bonanza Portfolio

Daily Markets - July 27, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Harmony missing between key tradable indices: Angel Broking

Technical View - July 27, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 24, 2020 - Bonanza Portfolio

Technical View - July 24, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Derivatives Weekly View - July 24, 2020 - Nifty to target 11400 with support at 11050

Market Outlook - Technical - July 24, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Market outlook - Broader market to outperform the benchmark - ICICI Securities

Nifty ends higher despite some intra-week reality checks: Angel Broking

Banking space to dictate the direction: Angel Broking

Daily Markets - July 23, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Technical View - July 23, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 23, 2020 - Bonanza Portfolio

Nifty approaches its crucial hurdle: Angel Broking

Daily Markets - July 22, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 22, 2020 - Bonanza Portfolio

Technical View - July 22, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 21, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 21, 2020 - Bonanza Portfolio

Technical View - July 21, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

11000 taken out, IT and Financials lead: Angel Broking

Daily Markets - July 20,2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 20, 2020 - Bonanza Portfolio

Technical View - July 20, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Market for next week: Positive momentum to continue, Nifty eyeing 11400 - ICICI Secruities







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019