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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:

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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

Nifty Rollover highest since September 2016: Angel Broking

11549 becomes a sheet anchor: Angel Broking

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

Crude oil spoils the party, crucial support at 11549: Angel Broking

11500-11700 is the range for expiry week: Angel Broking

INDIA VIX at 3 year high: Angel Broking

Technical & Derivatives Report - 22nd April 2019 - Angel Broking

Nifty set to head higher after two days of consolidation - Angel Broking

Epic Research remains bullish because of RIL results post market

Technical & Derivatives Report - 18th April 2019: Angel Broking

Nifty clocked fresh record highs, traders eyeing 12000 now: Angel Broking

Nifty finally enters uncharted territory, reaches new milestone of 11800: Angel Broking

Technical & Derivatives Report - April 16, 2019 - Angel Broking

Market still under a consolidation range - April 16, 2019 - Market Strategy - Share India Securities Ltd

Index out of small consolidation band, eyeing new highs now: Angel Broking

Index futures attracting fresh longs: Angel Broking

Q4 results, IP data will drive market in coming week : CapitalAim

Market consolidates further, still better to be with the trend: Angel Broking

Market Strategies for Friday April 12, 2019 - Share India Securities Ltd

Appreciation in Rupee and inflows from FII adding positive sentiments to the market: Epic Research

Heavyweights led to some correction, 11549 becomes a key support: Angel Broking

Banking and Auto counters lifted markets higher, optimism to extend further: Angel Broking

Call writers surrendered their arms: Angel Broking

Nifty and Sensex may test the levels of 12300 and 40700 respectively in 2019: Epic Research

Nifty bullish stance with an upside range of 11800-12200 - CapitalAim

Strong bout of profit taking, fortunately key supports defended: Angel Broking

INDIA VIX spikes over 9% to close above 20: Angel Broking

Head start for the new financial year, fresh record highs soon: Angel Broking

Forex Reserve and CPI may impact market in short term - CapitalAim

Crude oil, Currency movement, Manufacturing & Industrial numbers are most likely to drive the coming week market: Epic Research

25 Bps Repo Rate Cut Is A Growth Infusing Decision By RBI: ASSOCHAM

Market Outlook - Friday April 5,2019 - Share India Securities Ltd

The rate cut will likely to attract much liquidity for the economy: Epic Research

RBI's rate cut by 25 basis points, keeps CRR unchanged - TradingBells

RBI cuts repo rates by 25 bps as anticipated: Angel Broking

First Bi-monthly Monetary Policy Statement, 2019-20

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