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

| More

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

Posted On: 2021-01-13 09:00:11 (Time Zone: Arizona, USA)


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

"Despite SGX Nifty indicating a flat start early in the morning, our markets opened with a decent upside gap at record highs well above 14600. In the initial trade, Nifty marked a new high of 14653.35 and then consolidated for some time. However, post the midsession, the selling augmented in the market and within a span of few minutes, Nifty was well off morning high. Fortunately, we witnessed a smart recovery towards the fag end to conclude the day on a flat note.

Since last couple of days, although the broader market kept buzzing, we observed profit booking in individual stocks. Today, the profit booking mode was seen in so many counters, which weighed down heavily on the market and thus market had a decent decline during the day. But similar to recent trend, 2.30 factor once again played out well in the market, which helped the market erase its losses completely. Overall it was a day with some decent roller-coaster move and fortunately due to sheer outperformance from few banking heavyweights, markets are back to safe terrain. This is what we have been referring since few days, it's not going to be easy ride anymore for traders and one needs to be prepared for such higher volatility.

With today's move, 14650 has become an immediate resistance; whereas on the lower side, last two day's low of 14430 has now become a crucial point. Any sustainable move below this level would provide first sign of weakness. Also, we would like to highlight some typical behaviour of the market. Since last few days, we are seeing some intraday dips and those declines are getting comfortably bought in the last one and half hours of strong buying mode. Whenever we see this behaviour reversing, traders should immediately lighten up longs."


Source: Equity Bulls

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





Other Headlines:

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

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

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

Daily Markets - Jan 11, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Jan 11, 2021 - Reliance Securities

Daily Market Commentary - Jan 11, 2021 - Bonanza Portfolio

Post Market views - Jan 11, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

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

Daily Markets - Jan 8, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

2021 starts with a bang, key support at 14000: Angel Broking

Rupee - Jan 8, 2021 - Reliance Securities

Daily Market Commentary - Jan 8, 2021 - Bonanza Portfolio

Post Market views - Jan 8, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 8, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty consolidates, but border market outshines: Angel Broking

Technical View - Jan 7, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Jan 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Jan 7, 2021 - Bonanza Portfolio

Rupee - Jan 7, 2021 - Reliance Securities

Post Market views - Jan 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - Jan 6, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Jan 6, 2021 - Reliance Securities

Market Closing Commentary - Jan 6, 2021 - Bonanza Portfolio

Post Market views - Jan 6, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Jan 6, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Jan 5, 2021 - Reliance Securities

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

Winning streak continues for Nifty to close at 14200: Angel Broking

Daily Market Commentary - Jan 5, 2021 - Bonanza Portfolio

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

Technical View - Jan 5, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Bulls remain adamant, continues to make new milestones: Angel Broking

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

13900-14000 to act as demand zone: Angel Broking

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

Daily Market Commentary - Jan 4, 2021 - Bonanza Portfolio

Post Markets views - Jan 4, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities



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

disclaimer copyright © 2005 - 2020