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

| More

All eyes on 10200 now:Angel Broking

Posted On: 2018-10-23 08:47:49

Daily Market Wrap Up By Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd

"We had a good bump up at the opening owing to strong positive cues from the Asian bourses, especially the Hong Kong market (HANG SENG). However, this again turned out to be formality as there was immense selling pressure seen right from the word go. Subsequently, index consolidated for some time in a range before sliding below the 10300 in the last hour of the trade.

The gap up opening beyond 10400 was the perfect start most of the traders dreamt of. But there seem to be no strength in our market as we shrugged off extremely positive cues from the global bourses and eventually ended the session with more than half a percent cut. The positive crossover in 'RSI-Smoothened' oscillator is still intact and hence, there is still a ray of hope for the bulls that the recent support zone of 10200 - 10138 would be defended for a while. Let&nb p;see how it pans out as we are nearing the derivative expiry. For the coming session, 10289 followed by 10366 would be seen as immediate hurdles; whereas, on the lower side, 10200 remain to be the level to watch out for.

We reiterate that traders need to be light on positions and should rather adopt a stock centric approach by following strict stop losses."


Source: Equity Bulls

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





Other Headlines:

A Colourful Bank Nifty this Holi: Angel Broking

Long Short Ratio surged to 63% from 50%: Angel Broking

Market looks a bit tired but the undertone still remains bullish: Angel Broking

Rising IndiaVix hints it's time for some profit booking: Angel Broking

Equity markets sentiment remains bullish : Epic Research

Brexit issues and OPEC's supply cut are likely to hit the domestic market - CapitalAim

Bank Nifty at all-time high: Angel Broking

Low hanging fruit is gone now, be very selective in stocks: Angel Broking

Midcaps reinforce pre-election rally: Angel Broking

Nifty at 11300; courtesy to Bank Nifty which clocks record high: Angel Broking

Coming week market will watch CPI, WPI data - Debabrata Bhattacharjee, Head of Research - CapitalAim

Fundamentals, Economic data, and Domestic Cues will play a major role in coming week market: Epic Research

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

Some consolidation on the weekly expiry day: Angel Broking

Geopolitical tensions eased off, market gives a Thumbs up: Angel Broking

Index consolidated but PSBs and midcap Pharma had blown up moves: Angel Broking

Scattered options data hints rise in volatility: Angel Broking

Metal, Power, Telecom may see some profit booking and weakness in March series: Epic Research

Nifty benchmark is looking in a range bound coming week : CapitalAim

The GST meet, GDP numbers and other imp. numbers will drive the coming week market: Epic Research

Some respite in the market, Metals and midcaps poised for extended moves: Angel Broking

Nifty reclaimed 10800 amid broader market participation: Angel Broking

Nifty formed a sizable bear candle on the daily chart - CapitalAim

Market continue to look depressed, 10583 a crucial support: Angel Broking

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







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

disclaimer copyright © 2005 - 2019