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

| More

Expiry factor pushed index beyond 10600: Angel Broking

Posted On: 2018-04-27 08:54:11

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

"Similar to previous session, once again our markets opened with a mildly positive bias despite some sluggishness across the globe. This was followed by a consolidation in a slender range for the major part of the day. However, eventually the expiry factor came into picture and index picked up some buying momentum in the final hour of the trade to eventually conclude the April series tad above the 10600 mark.

Today's movement was very much on expected lines and the recovery in terms of price action was quite encouraging. But, historically speaking, such expiry moves can be a bit deceptive and hence, we need to keep a close eye on how market behaves on the subsequent day. On the upside, 10640 remain to be a major hurdle; whereas, on the downside, 10559 - 10536 would be seen as intraday support levels.

The ideal strategy for coming day would be to keep tracking mentioned levels and one should rather focus on individual stocks. We need to highlight one point that in case of a breakout beyond 10640, we would expect extension of this relief rally towards 10700 - 10750 but it certainly does not change our broader view and hence, we would continue advising staying light on positions."


Source: Equity Bulls

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





Other Headlines:

It's a bear momentum - Market crash - Epic Research

Thursday morning wiped off Rs 4 lakh crore of investor wealth within 5 minutes

Expect further bounce back in midcap universe: Angel Broking

No respect for 200 day SMA as well: Angel Broking

SBI Ecowrap - Excise cut most welcome, states are already cutting in tandem: Short term steps by RBI now a must for currency market stability

RBI's Policy decision will be crucial for coming week market : Epic Research

Expectation from RBI Monetary Policy - Karan Mehrishi, Lead Economist at Acuité Ratings and Research

Nifty to continue its downtrend for lower targets of 10600 - 10700 : Epic Research

Market View - Mr. Abhijeet Dey - BNP Paribas Mutual Fund

Nifty needs to close past 11340 to show some corrective upside

All eyes will be on crude oil movement and INR in the coming week : Epic Research

After a decline, appearance of Hammer pattern indicates a trend reversal

Nifty recovered some ground, Metal universe poised for strong move: Angel Broking

Nifty will consolidate next week before any fresh breakout on either side defining the short term trend : Epic Research

Bullish Hammer activated, further recovery on cards: Angel Broking

Oversold levels may allow for further bounce towards 11500-11540

Smart tail-end recovery looks encouraging, 'Metal' to continue outperformance: Angel Broking

Nifty has formed big red candle stick pattern on daily chart - Equity99

Still just a profit booking and not a trend reversal: Angel Broking

Market will look for IIP and Inflation data in Mid September : Epic Research

The index is likely to enter into a corrective trend - Market Strategy Aug 31, 2018 - Share India Securities Ltd

No obstacle seen before 11900, do watch out for 'Metal' space: Angel Broking

Further liberalization can help double rural income faster in India - Rajiv Ranjan Singh

Weekly Market Outlook - Rahul Sharma, Senior Research Analyst, Equity99

Floods to have a significant impact on the Kerala economy - Acuité Ratings & Research

Nifty expects to range between 11430 - 11600 for coming week market : Epic Research

Large caps and blue chips leading momentum for coming week market : Epic Research

Nifty has a strong support for 11295-11235 for coming week - Equity99

Keep using declines, further legs to unfold: Angel Broking

Economy Update: Monetary Policy - Kotak

Nifty eying 11400 - 11500, keep participating without any hesitation: Angel Broking

RBI policy leading the coming week market : Epic Research

Nifty enters uncharted territory, still long way to go: Angel Broking

Hitting record highs is merely a formality now: Angel Broking

Heavyweights results will drive market for next week : Epic Research

Market gearing up for new highs: Angel Broking

Midcap index is in process of bottoming out: Angel Broking

Expect choppy moves in index, better to continue with stock centric approach: Angel Broking

Crude price and its impact will drive coming week market - Epic Research

Benchmarks once again stuck in a range: Angel Broking

Metals, real estate and fertilizers to perform well in July series : Epic Research

Majority of longs have been lightened - The Rollover Report: Angel Broking

Markets in a corridor of uncertainty: Angel Broking

10650 - Probably a trend deciding level: Angel Broking

All's well that ends well: Angel Broking

OPEC meet and trade war fear will keep the markets jittery : Epic Research

10700 - 10650 remains to be a crucial support: Angel Broking

Boredom continues as index gyrates in a slender range: Angel Broking

US-Sino trade war hits risky assets hard: Angel Broking

North Korea and the US finally smoke the pipes of peace: Angel Broking







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

disclaimer copyright © 2005 - 2018