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

| More

Markets at make or break levels: Angel Broking

Posted On: 2019-01-03 17:39:00

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

"A global turmoil is weighing down heavily on our markets since last couple of days. We had wild swings on both sides in first couple of hours. However, yesterday's high of 10810 acted as a stiff hurdle and throughout the remaining part, index extended yesterday's fall to eventually sneak below the 10700 mark on a closing basis. There was sustained selling seen across the broader market to eventually conclude the session with over a percent cut.

Today's correction was augmented after breaking yesterday's low of 10735 and in the process; the index went on to retrace its recent up move by 61.8%. Now if we look at the daily chart meticulously, the index is now trading around the 'Upward Sloping Trend line' coupled with the vicinity of 61.8% and 100% retracement levels of 10670 and 10620, respectively. Index is now around the 'make or break' levels and thus, the coming session would become a crucial one as it may dictate the near term direction for the market. One needs to keep a close eye on these key levels and importantly, how things pan out globally which have been the party-spoilers of late.

At this juncture, it's better to stay light and ideally should avoid trading aggressively till the time volatility subsides globally."


Source: Equity Bulls

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





Other Headlines:

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

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

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







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

disclaimer copyright © 2005 - 2019