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

| More

Banking space to dictate the direction: Angel Broking

Posted On: 2020-07-23 07:40:17


Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):

"Today, our markets kick-started the day on a flat note in line with muted global cues. In the initial trade, we witnessed a small decline towards 11100, which got bought into. Since it was considered a strong support for today's weekly expiry, the buying accelerated in the following hours. In fact, during the remaining part of the day, we witnessed higher highs higher lows to confirm a close beyond the 11200 mark.

Clearly, there has been no stopping for the recent Bull run and one after another, markets are convincingly surpassing all major hurdles. As per the technical observations, Nifty at present is placed at the 78.6% retracement of the entire fall started after the outbreak of coronavirus pandemic and hence, it is considered to be a respectable resistance. Here, all eyes should be on banking space now as it is likely to play a vital role for the overall direction for next few days. The way Bank Nifty is shaped up, any further rally in it would unfold a strong up move in the broader markets as well. Hence more than Nifty, we would be keeping a close track on the banking index now. As far as levels for Nifty is concerned, a sustainable move beyond 11225 would result in an extension towards 11300-11350 and on the flipside, 11150 followed by 11100 remains to be an immediate support zone.

Traders are advised to keep following stock centric moves and ideally should keep booking timely profits wherever it's necessary. The stop loss level in Nifty should move higher towards 11050, which can be seen as a key support."


Source: Equity Bulls

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





Other Headlines:

Market Wrap - Sep 24, 2020 - Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd

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

Negative global cues weigh heavily on the expiry day: Angel Broking

Daily Markets - Sep 24, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 24, 2020 - Bonanza Portfolio

Mid-day market comment - Sep 24, 2020 - Angel Broking

Daily Market Wrap - Sep 23, 2020 - Angel Broking

Market fails to capitalize on the positive opening: Angel Broking

Daily Market Commentary - Sep 23, 2020 - Bonanza Portfolio

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

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

Intraday pullbacks face selling pressure: Angel Broking

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

Daily Market Commentary - Sep 22, 2020 - Bonanza Portfolio

Mid-day market commentary - Angel Broking

Rollover Analysis (September 22): Highest Put base at 11000 remains crucial support in settlement week...

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

PCR-OI surged 11% amid broad base meltdown: Angel Broking

Market tumbles on geopolitical concerns: Angel Broking

Daily Market Commentary - Sep 21, 2020 - Bonanza Portfolio

Technical & Derivatives Report - 21st September 2020 - Angel Broking

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

Some tentativeness around 11600 - 11650: Angel Broking

Market Outlook - Technical - Sep 18, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Derivatives Weekly View (September 18): Nifty likely to consolidate around 11500 in expiry week - ICICI Securities

Daily Markets - Sep 18, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - Sep 18, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Global weakness leads to some profit taking: Angel Broking

Daily Markets - Sep 17, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap Up - Sep 17, 2020 - Angel Broking

Daily Market Commentary - Sep 17, 2020 - Bonanza Portfolio

Technical View - Sep 17, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-up - 16th September, 2020 - Angel Broking

Daily Market Commentary - Sep 16, 2020 - Bonanza Portfolio

Technical View - Sep 16, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty reclaims 11500, courtesy to late surge in banking stocks: Angel Broking

Daily Markets - Sep 15, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 15, 2020 - Bonanza Portfolio

Market Wrap-up - Sep 15, 2020 - Angel Broking

Technical View - Sep 15, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - 15th September, 2020 - Angel Broking

Morning Newsletter - September 15 - YES Securities

Daily Markets - Sep 14, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Stellar move in broader market, benchmark erased gains: Angel Broking

Market Wrap-Up - Sep 14, 2020 - Angel Broking

Daily Market Commentary - Sep 14, 2020 - Bonanza Portfolio

Technical View - Sep 14, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Mid-market performance - 14th September, 2020 - Angel Broking

Some respite after last week's hiccup: Angel Broking







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

disclaimer copyright © 2005 - 2019