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

| More

Nifty in a No Trade Zone of 10600 - 10800: Angel Broking

Posted On: 2018-11-20 17:58:50

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

"Today, clearly the global bourses spoiled the party for our markets. After yesterday's encouraging close, we had a gap down opening on the back of massive sell off seen in all major global indices. To worsen this, our markets corrected sharply post the midsession to pare down all yesterday's gains and in fact more than that to conclude the session with a cut of a percent.

In our previous article, we had stated about index placing at a crucial juncture. Ideally, we would have taken a call about Nifty extending this relief move today; but since, it's a zone of multiple resistances; we chose to wait for further developments. Today's correction proves the significance of this sturdy wall of 10750 - 10850. Now the question is whether this is just a breather or corrective phase has resumed once again? In our sense, it would be too early to take this call. We are in a 'No trade zone' of 10600 - 10800 at this moment. We would wait for a decisive move outside this mentioned range which would dictate the near term trend. Hence, traders are advised to remain light within this range and a breakout on either side would provide better trading opportunities.

Here, the banking index would play a vital role and if Nifty has to go beyond 10800, the heavyweight banking counters needs to contribute heavily. Also, the midcap index has been struggling around its recent highs as we can see all attempts in last 6 - 7 sessions to surpass the resistance have been sold into. Hence, one needs to closely keep a watch on this development as well."


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