Amazon Great Indian Festival 2020 - Electronics
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Amazon Great Indian Festival 2020 - Electronics
Market Commentary

| More

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

Posted On: 2020-10-16 10:25:23


After showing a sharp weakness on Thursday, Nifty managed bounce back on Friday and closed the day with decent gains of 82 points. A small positive candle was formed with minor lower shadow, technically this pattern indicate a chances of upside bounce in the market.

The overall market breadth has continued with sluggish movement but, broad market indices like mid and small cap segments have closed in green with the gains of 1.39% and 1.13% respectively. this could be a minor hopes for longs to comeback in the market.

The negative implication after the formation of bearish engulfing pattern of Thursday remains intact, as long as the high of that pattern is protected at 12025. Friday's upside bounce could provide opportunity for sell on rise in the next week.

Similar upside bounces for three sessions have occurred in past, after the formation of bearish engulfing pattern (in early Sept 20) and the sell on rise has triggered near the mid part of the long range bear candle at 11585. Hence, the mid part of Thursdays bearish engulfing pattern comes around 11850, which is going to be an immediate resistance for the market ahead.

A reasonable negative candle was formed in this week with minor lower shadow (as per weekly timeframe chart), after the formation of long bull candles in the previous two weeks. This pattern could signal strength of recent upside bounce and any further weakness down to 11600-11550 could offer strong supports for the market.

Conclusion: The upside bounce of Friday could raise some hopes for bulls to make a comeback and we expect this upmove to continue till 11850-11900 in the next week, before encountering resistance at the highs. Immediate support is placed at 11650.


Source: Equity Bulls

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

Amazon Great Indian Festival 2020 - Mobiles





Other Headlines:

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

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

Rupee - Oct 23, 2020 - Reliance Securities

Some tentativeness around 12000, but odds in favor of bulls: Angel Broking

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

Weekly options expiry ends tad below 11900: Angel Broking

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

Daily Market Commentary - Oct 22, 2020 - Bonanza Portfolio

Rupee - Oct 22, 2020 - Reliance Securities

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

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

Massive volatility haunts traders: Angel Broking

Market Wrap Up - Oct 21, 2020 - Angel Broking

Daily Market Commentary - Oct 21, 2020 - Bonanza Portfolio

Indian Rupee - Oct 21, 2020 - Reliance Securities

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

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

Daily Market Wrap-Up - Oct 20, 2020 - Angel Broking

Daily Market Commentary - Oct 20, 2020 - Bonanza Portfolio

Rupee - Oct 20, 2020 - Reliance Securities

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

Nifty back to safer zone as closes above 11850: Angel Broking

Daily Markets - Oct 19, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-Up - Oct 19, 2020 - Angel Broking

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

Rupee - Oct 19, 2020 - Reliance Securities

Daily Markets - Oct 16, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-Up - Oct 16, 2020 - Angel Broking

Daily Market Commentary - Oct 16, 2020 - Bonanza Portfolio

Crude Oil - Oct 16, 2020 - Reliance Securities

Indian Rupee - Oct 16, 2020 - Reliance Securities

Silver - Oct 16, 2020 - Reliance Securities

Gold - Oct 16, 2020 - Reliance Securities

Daily Morning Newsletter - Oct 16, 2020 - YES SECURITIES

Global sell off spooked market participants: Angel Broking

Daily Market Wrap Up - Oct 15, 2020 - Angel Broking

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

Financial stocks propel late surge: Angel Broking

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

Daily Market Wrap-Up - Oct 14, 2020 - Angel Broking

Daily Market Commentary - Oct 14, 2020 - Bonanza Portfolio

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

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

Daily Markets - Oct 13, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap Up - Oct 13, 2020 - Angel Broking

Daily Market Commentary - Oct 13, 2020 - Bonanza Portfolio

Daily Market Wrap Up - Oct 12, 2020 - Angel Broking

Some profit taking at the psychological mark of 12000: Angel Broking

Technical View - Oct 12, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Morning Newsletter - October 12, 2020 - YES SECURITIES







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

disclaimer copyright © 2005 - 2019