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





Other Headlines:

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

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







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

disclaimer copyright © 2005 - 2019