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

| More

Technical View - Oct 13, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Posted On: 2020-10-13 06:11:25


After showing minor weakness from the swing highs On Monday, Nifty shifted into a consolidation with weak bias on Tuesday and closed the day on a flat note. A doji type candle pattern was formed (identical open and close), which was formed beside the minor negative candle of Monday.

Normally, a formation of doji after a reasonable upmoe or down move could be considered as a warning signal for trend reversal. Having formed this pattern beside the last negative candle could mean less predictive value for this doji pattern.

The uptrend of the last 7-8 sessions is intact and the consolidation movement of the last couple of sessions could be considered as a corrective move of the said uptrend. This signal a lack of selling participation at the swing highs, post sharp upmove. Similar consolidation pattern was formed in past during later part of Sept (29-30 Sept) and eventually resulted in an uptrend continuation pattern.

Weak market breadth has been a cause of concern for the benchmark Nifty over the last few sessions. We observe a continuous underperformance of the broad market segments like mid and small caps, while benchmark index moved up. This is not a good sign and we expect market breadth to pick up its upside momentum soon.

Conclusion: The short term trend of Nifty seems to be taking breather by moving in a range. The near term uptrend status of the market remains intact. The market is expected to resume its uptrend after the consolidation movement in the next 1-2 sessions. The upside target is intact around 12150-12250 levels. Immediate support is placed at 11850.


Source: Equity Bulls

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






Other Headlines:

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

Rupee - Nov 27, 2020 - Reliance Securities

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

Rollover Analysis (November 27): Nifty may continue to consolidate amid high volatility...

November series ends on a positive note at 13000: Angel Broking

Market Wrap - Nov 26, 2020 - Angel Broking

Technical View - Nov 26, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Nov 26, 2020 - Reliance Securities

Daily Market Commentary - Nov 26, 2020 - Bonanza Portfolio

Daily Markets - Nov 26, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Markets - Nov 25, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Some decent profit booking after a relentless run: Angel Broking

Market Wrap Up - Nov 25, 2020 - Angel Broking

Daily Market Commentary - Nov 25, 2020 - Bonanza Portfolio

Rupee - Nov 25, 2020 - Reliance Securities

Technical View - Nov 25, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

13000 finally a reality, banking propels the move: Angel Broking

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

Daily Market Commentary - Nov 24, 2020 - Bonanza Portfolio

Market Commentary - Nov 24, 2020 - Angel Broking

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

13000 just a number now, hope to be the reality soon: Angel Broking

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

Market Wrap-Up - Nov 23, 2020 - Angel Broking

Daily Market Commentary - Nov 23, 2020 - Bonanza Portfolio

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

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

Rupee - Nov 20, 2020 - Reliance Securities

Daily Market Commentary - Nov 20, 2020 - Bonanza Portfolio

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

Euphoric move finally pauses with a sharp u-turn: Angel Broking

Technical View - Nov 19, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

FIIs buying in equities highest for this financial year: Angel Broking

Rupee - Nov 19, 2020 - Reliance Securities

Daily Market Commentary - Nov 19, 2020 - Bonanza Portfolio

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

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

13000 is merely a formality now: Angel Broking

Daily Market Commentary - Nov 18, 2020 - Bonanza Portfolio

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

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

Nifty just shy away of 13000: Angel Broking

Daily Market Commentary - Nov 17, 2020 - Bonanza Portfolio

Rupee - Nov 17, 2020 - Reliance Securities

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

Covid-19 - Moderna vaccine update - Angel Broking

Technical & Derivatives Report - November 17, 2020 - Angel Broking

Currency Update - Nov 17, 2020 - Reliance Securities

Bulls delighted ahead of Diwali, hope to have fabulous SAMVAT: Angel Broking

Daily Market Commentary - November 13, 2020 - Bonanza Portfolio



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

disclaimer copyright © 2005 - 2019