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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

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Other Headlines:

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

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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

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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

Market Cues for the day - June 12th, 2019 - Angel Broking

11850-11900 to act as demand zone now: Angel Broking

Nifty Can Move Downside If Fails to Sustain Above 12000 levels: CapitalAim

Gradual upmove from the support, broader participation awaited: Angel Broking

Index consolidates in a range, 'IT' counters witness buying momentum: Angel Broking

RBI Circular will have a Positive Effect on NBFC & Banking sectors: CapitalAim

RBI circular for Resolution of Stressed Assets will be a relief to businesses facing temporary financial issues

Index defends its support, but ends well below the 12000 mark: Angel Broking

Market to Trade in a Wide Range for the Next Week - CapitalAim

Nifty concludes above 11850; courtesy to Banking and IT space: Angel Broking

RBI Policy update from Mr. Romesh Tiwari, Head of Research, CapitalAim

Reaction on RBI policy from Mr. Mustafa Nadeem, CEO, Epic Research

Views on RBI Policy - Kumaresh Ramakrishnan, Head - Fixed Income, DHFL Pramerica Mutual Fund

Nifty tanks below 11850 post RBI rate cut, but no major shorts: Angel Broking

Market may see further pressure in Nifty : Epic Research

Sell off post RBI policy, banking stocks drag: Angel Broking

Market Outlook - June 4, 2019 - Angel Broking

12000 conquered convincingly, courtesy to IT and Auto counters: Angel Broking

Long Short Ratio back to 60%: Angel Broking

The market will keenly look forward to the first Cabinet meeting and RBI Monetary Policy - CapitalAim

Next week market will look for RBI monetary policy crude price and global market sentiment: Epic Research

Rollover Report for May-June 2019: Angel Broking







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