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:

RBI nudges for growth - Acuité Ratings and Research

Market is waiting for government to provide some relief for FPI surcharge and stimulus for auto sectors - CapitalAim

3rd Bi-Monthly MPC Statement - Suman Chowdhury, President-ratings at Acuité Ratings and Research

View on RBI's monetary policy announcement - Mani Rangarajan

Post RBI Policy Reaction from Mr. Romesh Tiwari of CapitalAim

Nifty close above previous high after thirteen sessions: Angel Broking

Some recovery after testing sub-10800 levels, avoid fresh shorts: Angel Broking

Next Week Pharma, FMCG and Steel Sectors will be on Focus: CapitalAim

Sharp intraday correction in Nifty, but manages to close in the support range: Angel Broking

Midcaps show signs of some pullback: Angel Broking

Nifty at 200 DMA; 11108-11140 key support range: Angel Broking

This is a time for caution rather than being aggressive: Mr Mustafa Nadeem, CEO, Epic Research

Next week, the stocks of the pharma sector could show positive moves: CapitalAim

Rollover Report for July-August 2019: Angel Broking

Low Rollovers for the July series: Angel Broking

Still no respite, July series ends at two-month low: Angel Broking

Technical & Derivatives Report 25th July 2019: Angel Broking

FII has been largely negative post unfriendly budget - Mr Mustafa Nadeem, CEO, Epic Research

11300 - A make or break level in the near term: Angel Broking

Nifty above its crucial long term support of 200 days EMA: Mr Mustafa Nadeem, CEO, Epic Research

Marquee names succumbed to the selloff, 11300 becomes a key support now: Angel Broking

Market Wrap-up - Mr. Ruchit Jain (Equity Technical Analyst, Angel Broking)

Options data hints scope of further upside: Angel Broking

Nifty surpasses the hurdle of 11640; buying seen in last hour of the trade: Angel Broking

IT comes to the rescue, broader markets under pressure: Angel Broking

Q1 result will drive the market in coming week : CapitalAim

Some respite on global cues, Auto and Metal stocks on a roll: Angel Broking

Boredom ahead of the event, all eyes on Finance Minister: Angel Broking

The volatility index tanks 4% ahead Union Budget: Angel Broking

Nifty reclaims 11900, focus shifts on the broader market: Angel Broking

Some respite on the global front, promising signs ahead of the budget: Angel Broking

Stronger hands reluctant rolling-over shorts: Angel Broking

Budget will shape the future trend of Equity Market :Epic Research

11750-11800 to act as a supply zone: Angel Broking

Finally some relief in the broader markets: Angel Broking

Finally Nifty surpassed 11850; courtesy to Banking and Metals space: Angel Broking

Once again Nifty rallies from 11650, expect upmove towards 12000: Angel Broking

OTM call writers covered their positions: Angel Broking

Indices consolidate in a range; BankNifty outperforms: Angel Broking

11600 defended successfully, remain hopeful of a strong rally: Angel Broking

Next Week, Stocks of Banking & Finance, Pharma and Auto Sectors could be Expected to Show Bearish Movements - CapitalAim

Nifty can remain rangebound with 12000 on the upside to 11700 - 11600 on the downside - Epic Research

Exit poll gap became the savior, rally to extend further: Angel Broking

Fed rates compromise between monetary policy and Trump: Angel Broking

11630 - 11610 are the levels to watch out for: Angel Broking

Nifty is now all set for the Budget : Mustafa Nadeem, Epic Research

Negative News From the Finance Sector can be a trigger for a bigger correction before the budget session: CapitalAim

Index rebounds from its support; expect uptrend to resume: Angel Broking

V-shaped recovery from 20-DMA, except rally beyond 12000: Angel Broking

11850-12050 is an immediate range: Angel Broking







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

disclaimer copyright © 2005 - 2019