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Market will watch closely FII's and DII's data - Debabrata Bhattacharjee, CapitalAim

Posted On: 2019-03-23 09:55:26

The benchmark index march high with the help of Bank Nifty as it is trading at all-time high mark crossing 30000 psychological marks on Friday's trading, while Nifty 50 index is just behind 180 approx. points to it's an all-time high. The Benchmark trades high Wednesday, following gains in Infosys, HDFC twins, and L&T amid uninterrupted capital flow by foreign funds.

FII's are the main driving force behind the Rally in Benchmark from February low of 10585 through 11572 on March 22. A market was closed on Thursday on account of Holi, so on the next day Index began with a gap up at 11522 hit the session's high 11572 however, after emergences of profit booking Nifty 50 Quickly get demolish and settle at around 11456.

On Fridays market, Benchmark Nifty correct almost 64.15 points or 0.55% at 11456. Nifty50 hit a new high on Friday's opening trade of 11572 from February low of 10585. A cautious approach is the best strategy to trade in Index at this juncture. One should closely watch the FII's and DII's data on a daily basis. Going ahead 11572 is the decisive level on Nifty50 and if Nifty fell below 11400 we look this as an intermediate top on Nifty.

One should listen ECB President's Dragi speaks on Wednesday. Import Export Data of US on the same day. While GDP data of Q4 on Thursday of US. We can see small correction can last for a few more days post which, market expect another rise. We could be looking at some sort of a buying climax for Indian and international markets in coming few weeks.

Stock Future recommendations :

TATAMTRDVR: SELL| Below : Rs 86.90| Target: Rs 84.70| Stop loss: Rs 89.50|

TATAMTRDVR is technically structural weak. Getting Upper channel resistance along with Moving Average resistance. Breaking the Triangle formation of two weeks.

RELCAPITAL : SELL| Below : Rs 175.50| Target: Rs 170.50| Stop loss: Rs 180.50|

RELICANCE CAPITAL is forming a double top formation and getting resistance on top of channel line. RSI on the other front is weakening from upper levels.

REPCOHOME: SELL| Below : Rs 445| Target: Rs 432| Stop loss: Rs 460|

REPCOHOME is forming Rounding top formation simultaneously getting resistance with upper channel line. On daily Chart Relative Strength got weak from upper zone.

Source: Equity Bulls

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Other Headlines:

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

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

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

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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

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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

Be prepared for wild swings, hopeful of a favourable outcome: Angel Broking

Election results and exit polls will drive market : Mustafa Nadeem, Epic Research

Still no respite, the last ray of hope now around 200-SMA: Angel Broking

Market Strategies - May 14, 2019 - Market to focus on fresh triggers

IIP and Manufacturing number will provide some breather : Epic Research

Market will focus on Q4 results and final phase of election - CapitalAim

Market Strategies for Wednesday May 8, 2019 from Share India Securities Ltd

No major movement in the truncated week, 11700 defended successfully: Angel Broking

Sectors like Energy & PSU Bank will be in limelight for the coming week market: Epic Research

Q4 earnings, Election vibes, Oil and global markets that will steer market next week - CapitalAim

11650-11700 to act as a sheet anchor: Angel Broking

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Crude Oil & Final Phases of Elections in the coming month will add the volatility in market: Epic Research

The VIX and elevated crude oil prices will add bullish sentiments to the market: Epic Research

Banking once again becomes the culprit, all eyes on 11549: Angel Broking

Expect 11550 is the crucial support level for Nifty: CapitalAim

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