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:

Nifty resumes momentum led by heavyweights: Angel Broking

Daily Markets - August 4, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - August 4, 2020 - Bonanza Portfolio

Technical View - August 4, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - August 3, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Banking drag indices lower at start of the week: Angel Broking

Technical View - August 3, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Derivatives Strategy - Sell Bank Nifty 6 August 20600 Put at Rs. 115-135 - ICICI Securities

Nifty snaps six-week winning streak, still 11000 defended successfully: Angel Broking

Rollover Report for July - Aug 2020 - Angel Broking

Daily Market Commentary - July 31, 2020 - Bonanza Portfolio

Technical View - July 31, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 29, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Market wobbles at 4-month high, Reliance sees profit booking: Angel Broking

Daily Market Commentary - July 29, 2020 - Bonanza Portfolio

Technical View - July 29, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 28, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Nifty reclaims 11300 after four months: Angel Broking

Daily Market Commentary - July 28, 2020 - Bonanza Portfolio

Technical View - July 28, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 27, 2020 - Bonanza Portfolio

Daily Markets - July 27, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Harmony missing between key tradable indices: Angel Broking

Technical View - July 27, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 24, 2020 - Bonanza Portfolio

Technical View - July 24, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Derivatives Weekly View - July 24, 2020 - Nifty to target 11400 with support at 11050

Market Outlook - Technical - July 24, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Market outlook - Broader market to outperform the benchmark - ICICI Securities

Nifty ends higher despite some intra-week reality checks: Angel Broking

Banking space to dictate the direction: Angel Broking

Daily Markets - July 23, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Technical View - July 23, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 23, 2020 - Bonanza Portfolio

Nifty approaches its crucial hurdle: Angel Broking

Daily Markets - July 22, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 22, 2020 - Bonanza Portfolio

Technical View - July 22, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 21, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 21, 2020 - Bonanza Portfolio

Technical View - July 21, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

11000 taken out, IT and Financials lead: Angel Broking

Daily Markets - July 20,2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 20, 2020 - Bonanza Portfolio

Technical View - July 20, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Market for next week: Positive momentum to continue, Nifty eyeing 11400 - ICICI Secruities

Derivatives Weekly View (July 17): Nifty to target 11200 with support at 10750... - ICICI Securities

11000 merely a formality, stay upbeat and keep booking timely profits: Angel Broking

Weekly expiry ends higher above 10700: Angel Broking

Daily Markets - July 16, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities







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

disclaimer copyright © 2005 - 2019