Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Market Commentary

| More

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

Posted On: 2019-04-10 10:34:39

Mr. Manish Yadav, Head of Research, CapitalAim

After hitting all-time high of 11761 in the Benchmark Nifty50 last week, Index is now consolidating in a range. Nifty50 benchmark has formed higher high for the seven consecutive weeks but on RSI front it formed a negative divergence along with stochastic moved in an overbought territory which led profit booking in the past sessions.

The present consolidation phase will indicate a fresh uptrend resuming in the near future. The index shall resume its uptrend since no major change in stance before election, its structure of higher high and higher bottoms shall continue in near future.

Tuesday's market gains almost 647.45 points or 0.58% at 11671. We expect the index to enter in a round of consolidation in the range of 11800-11500 with some stock specific action. We continue to maintain our bullish stance with an upside range of 11800-12200. On the other hand, 11300-11000 are the key downside support levels.

Stock recommendations:

AMBUJACEM: BUY| Above : Rs 225| Target: Rs 235| Stop loss: Rs 218|

AMBUJACEM is beaten down from 229 levels but fail to break 220 or level. Consolidation between 220 to 226 confirms the positive outcome in near future. Above 228 another double bottom formation is confirmed and breakout above this pattern can lead it towards 240 plus levels.

BATA INDIA : BUY| Above : Rs 1425| Target: Rs 1455| Stop loss: Rs 1400|

BATA INDIA is again consolidating in the range of 1425-1370. Break out above 1425 can lead it towards 1450+ levels in near future. Making of higher high and higher bottom and consolidation makes our view more clear.

TATASTEEL: BUY| Above : Rs 555| Target: Rs 575| Stop loss: Rs 538|

TATASTEEL is also consolidating and forming high highs and high lows in hourly charts. Above 555 can again lead it towards 575+ levels in near future.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

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

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

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







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019