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

| More

Market skids after a good start, RIL becomes major culprit: Angel Broking

Posted On: 2021-01-25 09:31:27 (Time Zone: Arizona, USA)


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

"Today morning, the global set up was just ideal to have a good head start for the final week of the January month. However, within few minutes of trade, market skidded sharply to not only pare down all gains but also entered a negative territory. For the remaining few hours, Nifty gyrated in a range with higher volatility and eventually managed to extend losses in last couple of hours to close tad below the 14250 mark.

On Friday, markets had hinted towards some weakness and the bears used today's gap up opening to add bearish bets at higher levels. The major culprit in today's sell off was RELIANCE, after its quarterly numbers along with few financial stocks. However, the tail end correction was mainly led by the sudden nosedive in few IT heavyweights. The banking had a solid knock on Friday, which has already weakened its short term trend and today, Nifty had a catch up move to this. At the close, Nifty is placed at crucial swing low of 14222, which remained unbroken on a closing basis. However, the way charts are shaped up, the possibility of sliding below this level is quite high to test 14100 - 14000 levels. On the flipside, 14360 - 14500 are likely to act as Immediate hurdles.

We continue with our cautious stance on the market and as mentioned in the previous commentary, traders are advised to stay light on positions. Generally, market does not give any major trend reversal ahead of the mega event; but this time, it looks like we are going to witness yet another unprecedented behaviour of the market. Next couple of days would be quite crucial and would be interesting to see whether markets correct further or it shows some resilience to protect it's crucial supports."


Source: Equity Bulls

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





Other Headlines:

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

Post Market views - Feb 23, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Market extends losses, Nifty below key support of 14800 : Angel Broking

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

Rupee - Feb 22, 2021 - Reliance Securities

Daily Market Commentary - Feb 22, 2021 - BONANZA PORTFOLIO LTD



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

disclaimer copyright © 2005 - 2020