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

| More

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

Posted On: 2019-02-19 21:53:55

Mr. Debabrata Bhattacharjee, Head of Research, CapitalAim

The weekly overview formed a sizable bear candle having lower highs and lower lows. Which indicates a continuation of correction, However, the market is correcting from seven consecutive sessions. Nifty futures is showing lack of upside momentum as markets failed to move higher in its multiple attempts after breaking 11000 level.

Earning season is almost over, with most of the companies logs double-digit Top-line growth, but feels some pressure on margins and on bottom-line & expected will remain in next quarters also Tata-motors posted net loss of Rs. 26,961 crore pulls the sentiment of Auto companies in a bear grip. Slowing Demand for Commercial Vehicles and Drilling companies put weigh on Indexes.

Tuesday's market fell almost 36 points or 0.35% at 10604. Nifty Index has a support zone at around 10550-10500. The only breakdown below 10550 on nifty index can correct markets further towards 10300 level in near term.

Stock recommendations:

SUNTV : Buy| Above: Rs 560| Target: Rs 590-600| Stop loss: Rs 535|

As the nifty retrace from lower levels this counter has initiated consolidation on lower levels, which could lead it to 600 and more in the day ahead. Sun-tv and peers are benefiting from TRAI regulations of selecting channels individually. Sun-tv has a large subscriber base in the southern region.

TATASTEEL : Buy| above : Rs 477| Target: Rs 490| Stop loss: Rs 465|

Tata steel plays the sentimental call b'coz of ongoing talks between China and US resumes there is a expectation of positive outcome from the trade talk. Technically Metals sectors are bouncing back from lower levels in international commodity exchanges.

NIIT-TEC : SELL| BELOW: Rs 1250| Target: Rs 1220| Stop loss: Rs 1275|

Stock in the recent week shows lack of momentum toward upside, Below 1250 one can easily target for 1200-1180 in near term. IT sectors is mostly sensitive to Dollar moments. On the dollar front, there is a hope building towards China & US deal if and so this deals doesn't comes to an logical end then this will derail the upside momentum of Emerging as well as Developed markets in the world.


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

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







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

disclaimer copyright © 2005 - 2019