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Market report by Mr. Manish Yadav, Head of Research, CapitalAim

Posted On: 2019-04-02 17:16:42

The Sensex scored to a record high on Mondays trading and crossed 39,000 mark for the first time along with global markets rallied in day trading. A rate cut hope is also played in the rally. Unfortunately Benchmark Nifty50 is just a short 35+ points from its all time peak. Markets loose steam in the trading after traders cuts bullish bets on the worries of monetary policy ahead.

Tuesday's market gain almost 44 points or 0.38% at 11713. The Weekly strong bull candle which settled above its previous week high indicating continuation of positive momentum ahead in the markets. The Oscillators of gauging the Overbought conditions like RSI, Stochastic, and MACD are on higher side shows the overbought in benchmark indexes. We expect the index to consolidate in the range of 11400-11800 with some stock specific action.

Stock recommendations :

VOLTAS: BUY| At : Rs 642| Target: Rs 675|

VOLTAS is in business of air conditioners and as the summer season peaks up the demand for consumer durables like A.C. will pick-up. Voltas is already formed a triangle pattern in a rally triangle in a running rally is a continuation pattern this will take voltas to newer highs.

GODREJIND: BUY| At : Rs 555| Target: Rs 570|

GODREJIND is trading above its 200 DMA. A rate cut announcement will make stock for more upside momentum. Consolidation is happening between 550-525 a breakout above on the upper consolidation can lead it towards 570+ levels in short term.

IBULHSGFIN: BUY| At : Rs 880| Target: Rs 900|

IBULHSFIN is getting resistance at around 878 levels which is its 200 DMA. If it breaks above 880 levels we will see 900+ levels in very short term. Ibulhsfin is also a High beta stocks and a rate sensitive stock which quickly react to any announcement.

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

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

Q1 result will drive the market in coming week : CapitalAim

Some respite on global cues, Auto and Metal stocks on a roll: Angel Broking

Boredom ahead of the event, all eyes on Finance Minister: Angel Broking

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

Nifty reclaims 11900, focus shifts on the broader market: Angel Broking

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

11750-11800 to act as a supply zone: Angel Broking

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

Next Week, Stocks of Banking & Finance, Pharma and Auto Sectors could be Expected to Show Bearish Movements - CapitalAim

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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