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

| More

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

Posted On: 2019-08-26 17:57:47

Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):

"A slew of announcement from FM Sitharaman on Friday evening caused massive gap up opening in our market. However, immediately index lost this early morning lead which was a knee jerk reaction of escalated trade war between the US and China. Due to this, index not only erased all opening gains but also went on to sneak well inside the negative territory. Things looked extremely bleak at one point of time, but fortunately, we witnessed enormous buying interest at lower levels which kept on accelerating till the closing point of the day. Eventually, Nifty concluded with a colossal intraday rally of more than 300 points from the low and 200 points from the previous close.

In our sense, previous session had set the tone for what we witnessed today during the session. Friday's recovery was crucial for our markets and hence, the early morning dip today was bought into with some authority. It is easy saying in the hindsight but considering our intraday stance, we were not surprises with this colossal move. This is typical kind of session, when most of the market participants are left clue less and markets are off considerably from the lows before anyone could realise it. Now the point is what's next? In our sense this rally has further legs to unfold and immediately, we expect it to get extended towards 11150 - 11250 levels.

Hence, traders are advised not to take any contradictory bets and should rather use dips to go long. Ideally, the stock specific approach would fetch better opportunities and hence, one should keep focusing on such potential candidates. As far as support is concerned, 11000 followed by 10930 would be seen as immediate levels for the index."


Source: Equity Bulls

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





Other Headlines:

12010 - 11930 becomes a sacrosanct support zone: Angel Broking

Suman Chowdhury, President - Ratings at Acuité Ratings and Research on Q2 FY20 GDP

FIIs 'Long Short Ratio' surged to 61%: Angel Broking

Daily market commentary - 29th November 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Daily market commentary - 28th November 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Index at new highs, stocks witnesses buying interest: Angel Broking

Market Wrap - Mr. Santosh Meena, Senior Analyst, TradingBells

Index is all set for new highs: Angel Broking

Index eyeing record highs now, Pharma seems to be the flavor now: Angel Broking

12000 or beyond not too far now: Angel Broking

Index consolidating but 'Pharma' continues to buzz: Angel Broking

No signs of trend reversal, avoid taking any contra bets: Angel Broking

Daily market commentary - November 1, 2019 - BONANZA PORTFOLIO LTD

Indecision continues but no worry as banking on the cusp of a breakout: Angel Broking

Some indecision or a profit booking, still no reason to worry for: Angel Broking

March towards 12k continues, PSU stocks are on a roll: Angel Broking

Daily market commentary - 30th October 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Kharif crop shortfall despite good monsoon to push up near term food inflation

Head start for the new SAMVAT, 12000 on cards now: Angel Broking

Technical & Derivatives Report - October 29, 2019: Angel Broking

Daily market commentary - October 18, 2019 - BONANZA PORTFOLIO LTD

Markets will be closed on October 21, 2019 for Maharashtra State Assembly Elections

Daily market commentary - October 17, 2019 - BONANZA PORTFOLIO LTD

Global uncertainty easing off one after another, bodes well for the bulls: Angel Broking

Technical & Derivatives Report 17th September 2019: Angel Broking

Daily market commentary - October 16, 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 15th October 2019 - BONANZA PORTFOLIO

Daily market commentary - October 14, 2019 - BONANZA PORTFOLIO LTD

Stay light to avoid wild swings in the market, 11400 to watch out for: Angel Broking

Index defends key support, remain optimist for near term: Angel Broking

Daily market commentary - 11th October 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Daily market commentary - 10th October 2019 - Bonanza Portfolio

Near term outlook positive till Nifty holds support of 11100: Angel Broking

Index resumes positive momentum from its support: Angel Broking

Nifty up 1.7% - Mr Jaipal Shetty, Fundamental Analyst, BONANZA Portfolio Ltd

Daily Market Commentary - 07th October 2019 Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Key highlights and out take on the monetary policy: Angel Broking

Market commentary - 04th October 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Quote from Mr. Amit Gupta, Co-Founder and CEO TradingBells

Quote on RBI policy from Mr. Mustafa Nadeem, CEO, Epic Research

Views on RBI Policy - Avnish Jain Head - Fixed Income Canara Robeco Asset Management Company

RBI MPC - Karan Mehrishi, Lead Economist at Acuité Ratings and Research

Technical & Derivatives Report 4th October 2019: Angel Broking

Technical & Derivatives Report 3rd October 2019: Angel Broking

Technical & Derivatives Report 30th September 2019: Angel Broking

Rollover Report for September-October 2019: Angel Broking

Index resumes momentum after some consolidation: Angel Broking

Fiscal deficit may still be limited to 3.5-3.6% - Acuité Ratings & Research

Technical & Derivatives Report 25th September 2019: Angel Broking

Rupee breaches 72 mark amid economic slowdown: Angel Broking







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

disclaimer copyright © 2005 - 2019