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

| More

Technical View - Jan 11, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Posted On: 2021-01-12 00:48:07 (Time Zone: Arizona, USA)


The upside momentum continued in the market for the second consecutive session on Monday post upside breakout of small range of Friday at 14250 and the Nifty closed the day higher by 137 points. After opening on a positive note on Monday, the market shifted into a consolidation in the early part of the session. It later showed a gradual upmove with range in the later half and finally closed near the all time high. The opening upside gap remains partially filled.

A small body of positive candle was formed with long lower shadow. Technically this pattern indicate buy on intraday dips opportunity in the market. The long bull candles of Friday and Monday signal an upside breakout of the small range at 14250 levels. New all time high was formed at 14498 levels.

The symmetrical pattern of 17-18 sessions of time consumption before sharp one day drop is intact. After the recent one day drop of 21st Dec, 14 trading sessions have already been consumed. Hence another 3-4 sessions of time consumption by the way of upmove or range movement is expected in this week, before showing another round of one day sharp decline from the highs-as per Nifty daily timeframe chart.

Another pattern of 3 weekly long bull candle formation is intact as per Nifty weekly timeframe chart. After a sharp weakness of later Dec-20, two weekly bull candle is already over and third week is in progress. Hence, this weeks high (high of long bull candle) is going to be crucial for any profit booking from the highs.

Conclusion: The short term trend of Nifty continues to be positive. There is a possibility of some more upmove or range movement for the next 3-4 sessions, before showing sharp one day of decline from the new highs. The next upside levels to be watched at 14600-14800. Immediate support is placed at 14380.


Source: Equity Bulls

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





Other Headlines:

Nifty ends below 15000 amid volatile swings : Angel Broking

Rupee - March 5, 2021 - Reliance Securities

Daily Market Commentary - March 5, 2021 - Bonanza Portfolio

Daily Markets - March 5, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - March 5, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - March 4, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Weak global cues jolts our markets, but midcaps outperform : Angel Broking

Daily Market Commentary - March 4, 2021 - Bonanza Portfolio

Rupee - March 4, 2021 - Reliance Securities

Post Market views - March 4, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - March 4, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Outstanding performance by the bulls; Nifty ends around 15250: Angel Broking

Daily Markets - March 3, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - March 3, 2021 - Reliance Securities

Daily Market Commentary - March 3, 2021 - Bonanza Portfolio

Post Market views - March 3, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - March 3, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Technical View - March 2, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty extends its bounce back, reclaims 14900: Angel Broking

Rupee - March 2, 2021 - Reliance Securities

Daily Market Commentary - March 2, 2021 - Bonanza Portfolio

Daily Markets - March 2, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - March 2, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Strong global cues helps Nifty reclaiming 14750: Angel Broking

Rupee - March 1, 2021 - Reliance Securities

Daily Market Commentary - March 1, 2021 - Bonanza Portfolio

Post Market views - March 1, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - March 1, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty back to 14500, financials leading the fall : Angel Broking

Rupee - Feb 26, 2021 - Reliance Securities

Daily Markets - Feb 26, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Feb 26, 2021 - Bonanza Portfolio

Post Market views - Feb 26, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Feb 26, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Monthly expiry ends tad below 15100 : Angel Broking

Rupee - Feb 25, 2021 - Reliance Securities

Daily Market Commentary - Feb 25, 2021 - Bonanza Portfolio

Daily Markets - Feb 25, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Feb 25, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - Feb 24, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty reclaims 15000 surprisingly despite a truncated day : Angel Broking

Technical View - Feb 24, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Feb 24, 2021 - Reliance Securities

Post Market views - Feb 24, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Feb 23, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Mandar Pitale, Head - Treasury, SBM Bank India's view on uniform pricing for bonds

Nifty reclaims 14700 but financials sulking a bit : Angel Broking

Rupee - Feb 23, 2021 - Reliance Securities

Daily Markets - Feb 23, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Feb 23, 2021 - Bonanza Portfolio



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

disclaimer copyright © 2005 - 2020