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

| More

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

Posted On: 2018-12-22 09:58:09

Mr. Mustafa Nadeem, CEO, Epic Research

Nifty ends down after a rebound last week with substantial losses as less conviction, lower breadth, and global sentiments weighed down on traders. This is a classic reversal in the market with Nifty making a new high at 10985 in the last few months while traders completely rejected the possibility of any up move being extended while profit booking triggered substantial losses.

While the difference between previous week Close and this week Close remain marginally close the important point to notice is that this is a fourth week we are witnessing Nifty taking resistance at the pretty much same level with a failed breakout above 10950 level. This indicates there is too much noise at present in a market that is an outcome of less conviction and subdued breadth. Despite a rally in a previous week, a failure of extension of same we believe we are in for a consolidation yet again. hence we reiterate our words "No Santa rally", at least in December, for directional traders. With Global markets in panic and performing in a completely bearish momentum, we, for now, cannot expect any outperformance specifically after a number of events that we have seen.

Now; market continues to look at USDINR and Crude for cues and that has what given us some bullish moves from 10500 to 10900. But to go beyond this resistance we need much better volumes, improved breadth, and muted volatility. While back at home Volatility continue to remain muted; It is the global markets and CBOE VIX which is giving us certain hints that worst is not over yet. It is up now almost 225% till date in the year while a recent jump of almost 90% gives us Jitters as a trader.

Western markets took a hit after Fed funds increased the Target from "Neutral 2" to 2.25 - 2.5 for 2019 as they continue to state "Gradual Increase" in rates for 2019 as well. That also gave us a round of another capital flow from our economy that is due for elections in 6 months. Hence a decisive move of money cannot be at least seen during this time of uncertainty.

We remain cautious for a short-term perspective as Nifty is still in a range of 11000 - 10700 and we are now coming out from it ion decisive basis. A close below swing high of 10950 - 11000 Ish levels will give us some directional view. Another important point is the placing of 20 Days MA below the 50 and 100 Days MA. That is another bearish indication for short term. We may see consolidation going forward as most indicators also show weakness in a short-term perspective.

LICHSGFIN - Stock was down nearly 4% in intraday with low volumes. It has strong resistance of 200 EMA and trendline on the daily chart. We recommend selling below 469 for the target of 465 with the stop loss of 573.

JUBLFOOD - Stock has shown the reversal and closed near to days low. It has strong resistance on the daily chart. The RSI is also showing weakness on the daily chart. We recommend selling below 1310 for the target of 1300 with the stop loss of 1320.

TITAN - We saw some profit booking in the stock and it was down nearly 3% in the day. It has a support of the trendline on the daily chart. We recommend buying above 906 for the target of 916 with the stop loss of 900.


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