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

| More

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

Posted On: 2018-10-16 09:09:18

Mr. Mustafa Nadeem, CEO, Epic Research

Nifty rebounds making a Hammer type pattern on the weekly chart indicating buying at lower levels after a stupendous ride by bears in a last couple of weeks. It is first to rebound after five weeks of continuous decline where bears slaughtered the bulls without a breath. The rebound this week has led to some relief to short-term bulls with a ray of hope in the tunnel.

Nifty declined almost 13% in the last five weeks while a rebound this week adding 3+% from the lows has given a short-term support. The pattern on the weekly chart is similar to a Hammer pattern that is a reversal pattern usually seen at the end of a trend. A hammer has a large shadow on lower side shows prices were driven to lower levels but bulls emerged to take prices higher and close near to the high of the week.

Though, with this pattern, Next week becomes crucial as a confirmation is necessary that should come with some volume expansion and buying with close above 10670 which is a midpoint of the previous weekly long candle.

For next week, Since there is a substantial drop in VIX we expect it to reduce further as nifty tries to make a short-term bounce to higher levels. The appreciation in Rupee by 3/4th of a percent has also added buoyancy in index and Stocks. The buying was seen in some blue-chips at lower levels such as Reliance, HDFC Bank, ITC and Maruti that indicated a short-term rally to be firm.

Fundamentals are lined up with Results / quarterly numbers of crucial companies such as Infy, Hero Moto Corp, ACC, Havells, Ultratech which may have a larger impact on its specific sectors. While with that on economic front we have WPI Inflation which was previously at 4.53% and will be watched while WPI Mfg was at 4.43%. These may give cues specifically when RBI has kept its interest rate hike on hold mentioning "calibrated tightening".

Nifty seems to be in a range for 10200 - 10250 on the downside to 10650 on the upside. It is a wider range while it may be narrowed to nearer levels once it sets the tone for the week on Monday. One must not be aggressive to go out for a bottom fishing as confirmation is not yet seen on charts which indicates a bounce to be as prudent as previous ones. We remain cautious since the medium-term trend seems to be in favor of bears.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Crude oil, USD INR and global markets will drive the coming week market: Epic Research

Next week Market will look forward for trade deal between China & US - CapitalAim

Comments on monetary policy - Mr. Tushar Jain, MD & Founder, High Spirit Commercial Ventures Pvt. Ltd

Comments on monetary policy - Mr. Sanjay D. Palve, CEO, Religare Finvest Ltd. And MD, Religare Housing Development Finance Corporation Ltd.

Comments on monetary policy - JHS Svendgaard Laboratories - Mr Nikhil Nada - MD

Reaction on Monetary Policy - Mr. Amar Ambani, President & Head of Research, YES Securities

Views of Mr. Umesh Revankar, MD and CEO - Shriram Transport Finance Ltd on Monetary Policy

Comments on monetary policy - Solar Industries - Mr Nilesh Panpaliya, CFO, Solar Industries India Limited

Comments on monetary policy - MIRC ELECTORNICS - ONIDA - Vijay Mansukhani - MD

Views of Mr. George Alexander Muthoot, MD - Muthoot Finance Limited on Monetary Policy

Large no. of data coming next week will play major role in driving the markets: Epic Research

RBI gives a dovish boost ahead of elections: Angel Broking

Finally 11000 conquered, now 11400 in sight: Angel Broking

Finally Nifty beyond 11000: Angel Broking

Only handful of heavyweights held Nifty higher: Angel Broking

Banking became the charioteer in today's late upsurge: Angel Broking

Action packed day ended with some hope of revival: Angel Broking

Stronger hands rolled-over positive bets in Stock Futures: Angel Broking

Traders preferred exiting their shorts ahead of budget: Angel Broking

Stocks rallied as if there is no tomorrow ahead of the budget: Angel Broking

10600 becomes the sacrosanct level: Angel Broking

Yet another day of sell off before heading to the Union Budget: Angel Broking

Terrible day of trade, courtesy Zee and Maruti: Angel Broking

GDP numbers, Q3 results and Budget will decide the direction for the market: Epic Research

ITC becomes the spoilsport post its earnings: Angel Broking

Good day for benchmark, courtesy to big boy Reliance: Angel Broking

Market View by Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund - January 21, 2019

Market will closely watch supervision and management commentary on Q3 result: Epic Research

Some intraday volatility in the market but we are back in the safe zone: Angel Broking

ATM puts attracting decent shorts: Angel Broking

Stronger hands forming mixed positions: Angel Broking

Market awaits for WPI numbers and Trade Deficit number for next week: Epic Research

No meaningful change in F&O data: Angel Broking

Lackluster session after yesterday's wild swings: Angel Broking

10733 becomes the sacrosanct level now: Angel Broking

Banking came for a rescue, increases hope of an upside breakout: Angel Broking

Market View by Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund - January 08, 2019

Index sees profit booking, expect volatility to increase soon: Angel Broking

Market View by Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund - January 07, 2019

Put writers continued adding fresh positions: Angel Broking

I hate losing > than I love winning

GST meet scheduled next week will give direction to the market: Epic Research

Markets at make or break levels: Angel Broking

Once again global concerns spooked market participants: Angel Broking

Head start for the new calendar year: Angel Broking

Derivatives data suggest a higher rollover leading to increased buying in coming days: Epic Research

Stellar recovery despite turbulence in the US markets: Angel Broking

Market remain cautious for a short-term perspective - Epic Research

Nifty Outlook and top stocks for 2019 : Epic Research

Sheer outperformance as compared to the global peers: Angel Broking

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

disclaimer copyright © 2005 - 2019