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

| More

Nifty almost at 14500, IT and Auto stocks shine: Angel Broking

Posted On: 2021-01-12 03:32:17 (Time Zone: Arizona, USA)


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

"Second week of the new calendar year started with a good bump up at fresh record high tad below the 14500 mark. In the initial hour, we witnessed a small bout of correction; but similar to recent trend, the intraday decline was bought into and the index thereafter once again resumed its upward trajectory. The opening was mainly led by the IT stocks after a good set of numbers from IT giant TCS over the weekend and then few Auto heavyweights took it from there to add another percent to the Bulls' kitty.

The gravity defying move continues and although, it has turned into a bit of euphoria, markets are not willing to give any correction at all. Only god knows when it's going to happen, but till then it's better to participate through stock centric approach by following a money as well as risk management. As a technician, it's becoming tougher day by day to project upward levels as we are located in an uncharted territory. Beyond 14500, next psychological level would come around 14600 and on the flipside, 14350 - 14300 becomes the immediate support. We reiterate that even if one remains with the flow, avoid becoming complacent and too aggressive. Hence, as a short term trader, it's advisable not to create leveraged positions.

As mentioned in the earlier section, today's move was mainly propelled by the IT and Auto stocks; whereas banking remained slightly on the back foot. Traders should look to identify such appropriate themes and we reiterate that it's better to keep booking profits in the ongoing rally, because every now and then, we are likely to see stock specific correction in the market."


Source: Equity Bulls

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





Other Headlines:

Daily Markets - Jan 22, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Jan 22, 2021 - Reliance Securities

Market erased weekly gains; courtesy to brutal knock in financials : Angel Broking

Daily Market Commentary - Jan 22, 2021 - Bonanza Portfolio

Post Market views - Jan 22, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 22, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Broader markets witness some profit booking, be watchful: Angel Broking

Daily Markets - Jan 21, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Jan 21, 2021 - Reliance Securities

Sensex touches 50k - Comment from YES SECURITIES

Post Market views - Jan 21, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Sensex hits all time high - Mr. Jyoti Roy, DVP - Equity Strategist, Angel Broking Ltd

Ether Hits All-Time High - Views of ZebPay

Stronger hands preferred exiting longs: Angel Broking

Momentous day for India's Capital Markets - Mr. Deepak Jasani

Daily Markets - Jan 20, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

New high again for Nifty, ends around 14650: Angel Broking

Rupee - Jan 20, 2021 - Reliance Securities

Daily Market Commentary - Jan 20, 2021 - Bonanza Portfolio

Post Market views - Jan 20, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 20, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Jan 19, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Smart comeback after two days correction, reclaims 14500: Angel Broking

Rupee - Jan 19, 2021 - Reliance Securities

Daily Market Commentary - Jan 19, 2021 - Bonanza Portfolio

Post Market views - Jan 19, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 19, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Jan 18, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Friday's Correction extends, Nifty enters sub 14300 territory: Angel Broking

Daily Market Commentary - Jan 18, 2021 - Bonanza Portfolio

Rupee - Jan 18, 2021 - Reliance Securities

Post Market views - Jan 18, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 18, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Jan 15, 2021 - Reliance Securities

Daily Markets - Jan 15, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

The fear index rallied 16% last week, stay cautious: Angel Broking

Post Market views - Jan 15, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 15, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Jan 14, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Jan 14, 2021 - Reliance Securities

Daily Market Commentary - Jan 14, 2021 - Bonanza Portfolio

Post Market views - Jan 14, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 14, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Jan 13, 2021 - Reliance Securities

Daily Markets - Jan 13, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Some hint of real of profit booking, market still defends key support: Angel Broking

Daily Market Commentary - Jan 13, 2021 - Bonanza Portfolio

Post Market views - Jan 13, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 13, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Jan 11, 2021 - 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 - 2020