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

| More

Reliance is widely expected to post an increase in Q4 - Epic Research

Posted On: 2018-04-29 09:41:59

Mr. Mustafa Nadeem, CEO, Epic Research for your consideration:

Nifty ends up for a Fifth consecutive week making a record high 10719 levels Since meltdown that happened in February 1st week. This has been one of the best monthly gains for Indices as well as compared to last few months and recovering the losses posted in March and Feb by more than 60% to end on a strong note. Bank Nifty also closed above 25200 which was acting as a resistance and covered its all previous month losses to end on a strong note with possible extensions on further upside.

The week started off on a cautious note as investors met global markets which were dwindling with higher volatility and a down move in SPX amidst that. Despite negative cues, strong earnings reported from US companies with mostly posting above estimates numbers and a number of positive data from economic front kept bulls intact. The European markets lead the overall sentiments as they kept on extending the gains.

The IT Sector was the flavor of the street for this week as well as robust numbers from TCS triggered buying in IT index along with Rupee depreciation that added the cherry on the cake. This week it was a star-studded line up in results with Majors like Axis, Maruti, and Reliance etc. The whopping results from Axis with a loss of +210 Cr on accounts of provisioning kept investors unfazed. It will be the giant Reliance that will have a result on street declared today and is widely expected to post an increase of above 2% on QoQ basis while around 20% on YoY basis.

The rollover statistics was also indicating a strength since the rollover figure was much higher than average of 6 months. Media and telecom are expected to do well in coming series along with financials and Pvt Banks. Real estate and Chemicals & paints may see some pressure. Nifty has next resistance at 10850 - 10810 level while support which was previously at 10400 is now shifted to 10500 - 10550. These levels will be crucial for bulls to maintain on lower side while on the upside to be tested. Bears will have an opportunity only if we see price action below 10500 on the closing basis.

Bank Nifty as well is expected to be ranged between 25100 - 25600 levels and should be seen as overall buying strategy on dips. In the coming week, we may see more action since there is a list of results to be announced by majors like Vedanta, Dabur, HCL Tech, Ambuja and Marico with many other. Stock specific action will be seen.


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