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

| More

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

Posted On: 2020-09-14 08:51:22


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

"The global set up was just ideal today morning to have a head start for the new trading week. We began convincingly above 11500 and then slipped into a consolidation mode for the major part of the session. However post the mid session, the benchmark took a nosedive and within a blink of an eye, we not only pare down gains but also sneaked well inside the negative territory. Fortunately a modest recovery at the end reduced the damage on a closing basis.

Practically, post the opening, nobody was even bothered looking at indices; because lot of stocks from the broader markets just took off right from the word go. As far as index movers are concerned, the IT space took the charge today and witnessed some steller moves throughout the day. However, the banking looked a bit tentative post the initial up move which was very short lived. In fact, post the midsession, banking stocks came off sharply and turned out to be spoilsport along with the recent mover RELIANCE, who witnessed some profit taking today. As a result of all this, the Nifty corrected precisely after entering a strong resistance zone of 11550 - 11650. On the flipside, 11400-11350 would be seen as crucial supports.

The kind of sudden fall we witnessed today, clearly suggests that we are still not out of the woods and hence, it's a kind of reality check for complacent buyers that we are going to see at regular intervals till the time uncertainty gets eliminated. Hence, it's advisable to continue with a stock specific approach but at the same time, it's important to take timely profits and avoid aggressive bets overnight."


Source: Equity Bulls

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





Other Headlines:

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

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

Market Outlook - F&O - Sep 11, 2020 - Raj Deepak Singh, Head - F&O, ICICI direct

Market Outlook - Technical - Sep 11, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Market Wrap Up - September 11, 2020 - Angel Broking

Technical View - Sep 11, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - Sep 11, 2020 - Bonanza Portfolio

Monsoon And Rural Economy & Stock Recommendations - Sep 2020 - Angel Broking

Nifty claims 11450 on weekly expiry: Angel Broking

Daily Markets - Sep 10, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Market Wrap - Sep 10, 2020 - Angel Broking

Daily Market Commentary - Sep 10, 2020 - Bonanza Portfolio

Technical View - Sep 10, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Mid-Market Quote - September 10, 2020 - Angel Broking

Nifty rebounds from key support; Reliance comes for rescue: Angel Broking

Banking index looks short heavy: Angel Broking

Market Wrap-up - Tuesday, 9th September - Angel Broking

Daily Markets -Sep 9, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Mid-Market Update - 9th September - Angel Broking

INDIAVIX surged 1.4% due to tail end fall: Angel Broking

Nifty ends lower due to tail end fall: Angel Broking

Daily Market Commentary - Sep 8, 2020 - Bonanza Portfolio

Market Wrap - Sep 8, 2020 - Angel Broking

Daily Markets - Sep 8, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian Rupee - Sep 7, 2020 - Mr. Vaqarjaved Khan - Research Analyst, Angel Broking Ltd

Daily Markets - Sep 7, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities







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

disclaimer copyright © 2005 - 2019