Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Market Commentary

| More

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

Posted On: 2018-07-02 09:01:38

Mr. Mustafa Nadeem, CEO, Epic Research.

Nifty ends the week making a "Hammer" type candlestick on weekly chart while ended the previous expiry on a negative note and kicked off the July series with a rebound leaving choppiness on the table for directional traders. A week that has been gripped by fears of Trade war amongst Asian economies, Rising crude oil prices and USD INR depreciation. It was a choppy week as bears dominated for the most of the part due to expiry.

The June expiry was on a weak note as rollover statistics pointed to a lower average of rollover for Nifty which was at 64% while the 6-month average has been around 67. Bank Nifty maintained the momentum with a rollover above 71% almost near to its 6 month average of 73%. Energy, Financials, Auto, IT has been the flavour of the street for both bulls and bears but looking at recent data we expect them to remain muted while sectors like Metals, real estate and fertilizers to perform well in July series while Oil & Gas, Infrastructure, FMCG may see some pressure on higher side.

Since Volatility has been higher we have seen Put side weight on long position but a recent correction in volatility along with renewed buying in broader indices for July series points to a positive start. The aggressiveness of FII FPI which was net outflow has reduced and seen some substantial decline. The July series which started on a positive note with broader indices gaining more than 1 % to 2%, we have seen higher activities at strikes of 10800 - 10900 while on downside highest activity is observed at 10500 10400. We expect this to be initial range and will further develop as we move ahead with days.

Fundamentals that will affect Equity market will be domestic data like IIP, WPI and USD INR. As USD INR continues to depreciate we expect it to put some pressure on RBI in its August meet while trade war may emerge from time to time to haunt the street participants.


IDBI - Stock has formed morning star on the daily chart with huge volume breakout and closed near to days high. We recommend buying above 56 for the target of 60 with the stop loss of 52.80.

JINDALSTEL - Stock has outperformed well with above the average volume. It took the support of 200 EMA & DMA on the daily chart and also formed morning star on the daily chart. We recommend buying from current level for the target of 233 with the stop loss of 216.

JETAIRWAYS - Stock has performed well with good volumes on the daily chart. The RSI also has shown a good reversal from an oversold position on daily chart. We recommend buying above 350 for the target of 360 with the stop loss of 343.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

NRI deposits highest since FY14 - Acuité Ratings

Seems a breather due to underperformance of few heavyweights: Angel Broking

Market will crucially watch for Manufacturing PMI, Infrastructure output's numbers & ICICI bank's result : Epic Research

All eyes on 10200 now:Angel Broking

Market Strategies for Tuesday, October 16, 2018 from Share India Securities Ltd

Quarterly number of crucial companies may have a larger impact on specific factors : Epic Research

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

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

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

disclaimer copyright © 2005 - 2018