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Highest closing in last six months, expiry in favor of mighty bulls: Angel Broking

Posted On: 2019-03-28 17:39:37

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

"The expiry day clearly belongs to the might bulls after yesterday's mild hiccup. Today morning, despite SGX Nifty indicating a sluggish start, we managed to kick off marginally higher and then accelerated as the day progressed. It was very much unlike normal expiry day as there was no volatility seen neither in the first half nor towards the fag end. In fact, we had a good steady trended day to register highest closing in last six months.

After November, this was the first series to clock such colossal rally. Nifty concluded with whopping gains of 7.20%; whereas for Bank Nifty, it turned out be the historical one. The banking index witnessed a gigantic bump up of over 13%, leading to fresh record highs. With continuation of recent articles, we remain upbeat on the market and expect new highs soon for our benchmark Nifty as well. For the coming session, 11603 would be seen as immediate hurdle but the kind of price development we are seeing; it would be eventually surpassed to head higher in the zone of 11640 - 11700. On the flipside, 11500 followed by 11413 has now become an immediate base.

Traders are advised to remain on the positive side and do not think of going against ongoing momentum. In such markets, do not hesitate, rather use dips to participate and ride the tide. We have been vocal about the outperformance of the midcap basket of late. It is clearly on a roll and this is probably a beginning of fresh leg of the rally."


Source: Equity Bulls

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Other Headlines:

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

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

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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

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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

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

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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

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







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