Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Market Commentary

| More

The market will keenly look forward to the first Cabinet meeting and RBI Monetary Policy - CapitalAim

Posted On: 2019-06-02 08:26:09

Mr. Romesh Tiwari, Head of Research, CapitalAim

This week markets closed subdued as the Sensex was down 117.77 points at 39,714.20, while Nifty was down 23.10 points at 11,922.80 on Friday closing. For the next week, Nifty might remain rangebound with some upward bias. 11,800-11,780 may be support for the next few days and if breached can take Nifty further down to 11,650 very fast. On the upside closing above 12,100 will entice more buyers and can see the participation of broader markets. Any big move is unlikely before RBI meet expected on 6th of June. The market is expecting RBI to cut the rates by at least 25 basis point, and we will not be surprised if they decide to cut the rate by even 50 bps, to infuse liquidity and push growth. Although monsoon will also be a concern for the coming quarter as it directly impacts the inflation rate.

Smt. Nirmala Sitharaman as the new finance minister is the right choice given her academic background in economics. She will have to face challenges of the slowdown in domestic consumption and liquidity issues. She will also be heading Corporate Affairs ministry and that will give her more avenues for implementing broadly structured policies for setting long term growth of the economy.

The market will be keenly watching the first Cabinet meeting of the new Modi Govt. for any signal for change in economic policies but there may not be any significant declaration on the very first meet.

Stock Recommendations:

HCL Tech: BUY| Above: Rs 1100| Target: Rs 1145| Stop loss: Rs 1148|

HCL Tech recovering from support of trend line drawn from the lows of 12-03-19 and 26-03-19 and RSI is showing buy signal on daily charts, now placed at 52.74 levels.

Mc Dowell-N: BUY| Above: Rs 565| Target: Rs 587| Stop loss: Rs 543

Mc Dowell-N has breached the resistance of trend line drawn from a high of 3-12-2018 and 15-03-2019 on daily charts & forming an inverse Head and Shoulder pattern with the neckline at 564 levels. RSI showing buy signal, now placed at 56.11 levels.

Godrej CP: BUY | Above: Rs 691| Target: Rs 715 | Stop loss: Rs 668|

Godrej CP has shown breakout of the inverse Head and Shoulder pattern on the daily charts and RSI is showing buy signal, now placed at 62.65 levels.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

View on Finance Minister's announcement to keep Corporate tax rate to 22% without exemptions

The masterstroke from FM, market takes a giant leap from lows: Angel Broking

Corporate Tax Reduction - Mr. Jignesh Madhwani, Promoter & Partner, Torin Wealth Management

Corporate Tax slashed for the Companies - Ravi Saxena (MD, Wonderchef)

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

Views on FM Smt. Nirmala Sitharaman Press Conference - Acuité Ratings

India cuts corporate tax, FM announces slew of measures to resurrect economy

Technical & Derivatives Report 20th September 2019: Angel Broking

Technical & Derivatives Report 19th September 2019: Angel Broking

Technical & Derivatives Report 18th September 2019: Angel Broking

Indices confirms a reversal, buying opportunity in midcaps: Angel Broking

Technical & Derivatives Report 9th September 2019: Angel Broking

Market overview after FM announcment - TradingBells

Nifty retraces some of the recent gains, seems a good buying opportunity: Angel Broking

V-shaped recovery in three sessions, Nifty gains 500 points from recent low: Angel Broking

Nifty off 400 points from lows before anyone could realize it, expect further recovery: Angel Broking

All the things playing out on a Monday morning - Mr Mustafa Nadeem, CEO, Epic Research

Technical & Derivatives Report 26th August 2019: Angel Broking

Technical & Derivatives Report 23rd August 2019: Angel Broking

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

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

disclaimer copyright © 2005 - 2019