Nifty forms a Dragonfly Doji at the lower range of consolidation indicating indecision and a possible reversal. A dragonfl" />

Nifty forms a Dragonfly Doji at the lower range of consolidation indicating indecision and a possible reversal. A dragonfl" />
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Market Commentary

| More

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

Posted On: 2019-04-11 17:25:57

"Q4 result expectations of Infosys & TCS" scheduled tomorrow by Mr. Mustafa Nadeem, CEO, Epic Research.

Nifty forms a Dragonfly Doji at the lower range of consolidation indicating indecision and a possible reversal. A dragonfly Doji has a longer lower shadow with closing near to its high with a small or negligible body. The importance increases when it is seen at the extreme of consolidation or around peak or trough.

For the past few days, we have Nifty consolidating between a range of 11500 - 11700 and that is what we have seen. The derivatives data also point to 11500 - 11700 as a decisive range for short term in this expiry, for now. We believe there may be lower level buying going forward and Nifty may retreat to higher levels of 11680-11700 again.

Further appreciation is also seen in USDINR amid huge inflows in equity markets in last few weeks from FII that is acting as positive sentiment.

Q4 results expectations:

TCS - The stock is in a very tight consolidation within a range of 2000 - 2090. It has also been forming a triangle pattern with range bound trading. The recent jump in IV is seen as the results are near and the volatility is set to rise. Though we may see some writing as options writers would try to eat the premiums once the results are out. Hence we may not see a big movement in stock given the fact that it is trading between this range of 2000 - 2090 for a while. Only a decisive breakout from this range on closing basis shall give us a mid-term trend. The overall trend is primarily bullish but recent consolidation since Q4 2018 has put prices in the sideways territory. Any breach below 2000 would put pressure on TCS to test lower levels of 1900 - 1850. 2090 is a point of inflection.

INFY - Stock has seen a breakdown from the channel formed in the short term which it has been following since March. Though the trend remains largely positive as it is trading above its short term MA's for a while and a positive crossover is already seen on the daily scale. Any pullback to 720 - 715 shall work out favourably for bulls as an opportunity to enter the trend for a re test of its recent highs of 770.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Selling reemerged at higher levels, still remain hopeful: Angel Broking

Technical & Derivatives Report 19th August 2019: Angel Broking

RBI nudges for growth - Acuité Ratings and Research

Market is waiting for government to provide some relief for FPI surcharge and stimulus for auto sectors - CapitalAim

3rd Bi-Monthly MPC Statement - Suman Chowdhury, President-ratings at Acuité Ratings and Research

View on RBI's monetary policy announcement - Mani Rangarajan

Post RBI Policy Reaction from Mr. Romesh Tiwari of CapitalAim

Nifty close above previous high after thirteen sessions: Angel Broking

Some recovery after testing sub-10800 levels, avoid fresh shorts: Angel Broking

Next Week Pharma, FMCG and Steel Sectors will be on Focus: CapitalAim

Sharp intraday correction in Nifty, but manages to close in the support range: Angel Broking

Midcaps show signs of some pullback: Angel Broking

Nifty at 200 DMA; 11108-11140 key support range: Angel Broking

This is a time for caution rather than being aggressive: Mr Mustafa Nadeem, CEO, Epic Research

Next week, the stocks of the pharma sector could show positive moves: CapitalAim

Rollover Report for July-August 2019: Angel Broking

Low Rollovers for the July series: Angel Broking

Still no respite, July series ends at two-month low: Angel Broking

Technical & Derivatives Report 25th July 2019: Angel Broking

FII has been largely negative post unfriendly budget - Mr Mustafa Nadeem, CEO, Epic Research

11300 - A make or break level in the near term: Angel Broking

Nifty above its crucial long term support of 200 days EMA: Mr Mustafa Nadeem, CEO, Epic Research

Marquee names succumbed to the selloff, 11300 becomes a key support now: Angel Broking

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

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

disclaimer copyright © 2005 - 2019