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

| More

No respect for 200 day SMA as well: Angel Broking

Posted On: 2018-10-04 22:08:06

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

"Today's gap down opening was very much in-line with what SGX Nifty was suggesting early in the morning. However, things worsened as the day progressed and in the course of action, the Nifty corrected more than 300 points on an intraday basis. There were couple of attempts made to see some respite but all got sold into as the selling pressure was quite fierce at higher levels. In terms of index, today was a terrible day for our benchmarks as it was the biggest single day loss (on closing basis) in the recent past.

Most of the participants have been talking about and keeping a close eye (with some hope) on how index behaves around the daily '200 SMA' placed in the zone of 10800 - 10770. Market had no respect for that level as we witnessed a gap down opening below it and then extension of the fall thereafter. As a result, now, a gap area has been formed (10754.70 - 10843.75), which would now be seen as major hurdle. Before that 10675 is likely to act as an immediate resistance. On the downside, today's low coincides with 28th June low, from where the previous rally started and hence, it requires some attention. Recently, markets have not given respect to any support and hence, traders are advised to stay light and should avoid taking undue risks.

Today, so many heavyweight index constituents corrected brutally and OMCs who seemed to give some relief move plunged ferociously in last 20 minutes of trade after the unfavorable announcement from the Finance Minister."


Source: Equity Bulls

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





Other Headlines:

Banking once again becomes the culprit, all eyes on 11549: Angel Broking

Expect 11550 is the crucial support level for Nifty: CapitalAim

Crude oil spoils the party, crucial support at 11549: Angel Broking

11500-11700 is the range for expiry week: Angel Broking

INDIA VIX at 3 year high: Angel Broking

Technical & Derivatives Report - 22nd April 2019 - Angel Broking

Nifty set to head higher after two days of consolidation - Angel Broking

Epic Research remains bullish because of RIL results post market

Technical & Derivatives Report - 18th April 2019: Angel Broking

Nifty clocked fresh record highs, traders eyeing 12000 now: Angel Broking

Nifty finally enters uncharted territory, reaches new milestone of 11800: Angel Broking

Technical & Derivatives Report - April 16, 2019 - Angel Broking

Market still under a consolidation range - April 16, 2019 - Market Strategy - Share India Securities Ltd

Index out of small consolidation band, eyeing new highs now: Angel Broking

Index futures attracting fresh longs: Angel Broking

Q4 results, IP data will drive market in coming week : CapitalAim

Market consolidates further, still better to be with the trend: Angel Broking

Market Strategies for Friday April 12, 2019 - Share India Securities Ltd

Appreciation in Rupee and inflows from FII adding positive sentiments to the market: Epic Research

Heavyweights led to some correction, 11549 becomes a key support: Angel Broking

Banking and Auto counters lifted markets higher, optimism to extend further: Angel Broking

Call writers surrendered their arms: Angel Broking

Nifty and Sensex may test the levels of 12300 and 40700 respectively in 2019: Epic Research

Nifty bullish stance with an upside range of 11800-12200 - CapitalAim

Strong bout of profit taking, fortunately key supports defended: Angel Broking

INDIA VIX spikes over 9% to close above 20: Angel Broking

Head start for the new financial year, fresh record highs soon: Angel Broking

Forex Reserve and CPI may impact market in short term - CapitalAim

Crude oil, Currency movement, Manufacturing & Industrial numbers are most likely to drive the coming week market: Epic Research

25 Bps Repo Rate Cut Is A Growth Infusing Decision By RBI: ASSOCHAM

Market Outlook - Friday April 5,2019 - Share India Securities Ltd

The rate cut will likely to attract much liquidity for the economy: Epic Research

RBI's rate cut by 25 basis points, keeps CRR unchanged - TradingBells

RBI cuts repo rates by 25 bps as anticipated: Angel Broking

First Bi-monthly Monetary Policy Statement, 2019-20

RBI Monetary Policy Review - Acuité Ratings and Research

Extension of profit booking post the RBI monetary policy, still no reason to worry for: Angel Broking

Some reality check for traders, still trend remains bullish: Angel Broking

Market Strategy for Wednesday, April 3, 2019 - Share India Securities Ltd

Nifty just a kissing distance away from all-time highs: Angel Broking

Market report by Mr. Manish Yadav, Head of Research, CapitalAim

Despite strong profit taking, markets managed to close in the green: Angel Broking

RBI's monetary policy and Auto sales numbers will drive market - CapitalAim

Highest closing in last six months, expiry in favor of mighty bulls: Angel Broking

Rollovers above 3-month average: Angel Broking

BankNifty defends 30000 amidst higher volatility ahead of expiry: Angel Broking

Some jitters as we move above 11500: Angel Broking

Market recoups losses; courtesy to banking and midcap baskets: Angel Broking

BankNifty gains 600 points in a single session: Angel Broking

Nifty index towards 11700-12000 level - Debabrata Bhattacharjee, Head of Research, CapitalAim







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

disclaimer copyright © 2005 - 2019