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

| More

Technical & Derivatives Report 3rd October 2019: Angel Broking

Posted On: 2019-10-03 12:47:33


Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):

"We had a gap up opening on Tuesday (in the absence of Chinese and Hong Kong markets) owing to positive global cues. During the first half, index gave couple of volatile swings in the range of 11550 - 11400. However, all of a sudden the selling augmented in the latter half; courtesy to mounting concerns over corporate loans. Fortunately, the selloff got arrested at the stroke of the penultimate hour and hence, we witnessed a decent recovery to close in the sub-11400 levels.

Ever since we had a massive bump up for two consecutive sessions, markets went in to a slumber. Although, Nifty was gradually sliding lower, the banking index was clearly a laggard as we witnessed sharper retracements in this high beta index. On Tuesday, at one point, things looks extremely intimidated, but the one who dragged, eventually managed to become a saviour as well. Now, we can interpret it as a kind of panic selling, which cooled off towards the fag end of the session. Tuesday's low of 11247.90 in Nifty should now be seen as a sacrosanct level. Because market recovered in the midst of a panic sell off from this junction and it coincides with the key moving averages as well. Moreover, not to forget, 11200 previously was acting as a sturdy wall and hence, should be seen as a sheet anchor now. On the upside, if things (panic) with respect to banking and NBFCs have cooled down a bit, then we should ideally continue our northwards path again to retest 11450 - 11550 levels.

Traders are advised to keep a close tab on above mentioned levels and since the volatility has increased drastically, it's advisable to stay light and try identifying apt candidates for a trading perspective."


Source: Equity Bulls

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





Other Headlines:

Some respite at 200-SMA, but still not out of the woods yet: Angel Broking

Market Outlook - F&O - Sep 25, 2020 - ICICI Securities

Market Outlook - Technical - Sep 25, 2020 - ICICI Securities

Market Outlook - Index to consolidate (11300-10800) amid stock specific action...

Technical View - Sep 25, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - Sep 25, 2020 - Angel Broking

Daily Market Commentary - Sep 25, 2020 - Bonanza Portfolio

Weekly Markets Outlook - Sep 25, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Mid-day market comment - Sep 25, 2020 - Angel Broking

Market Wrap - Sep 24, 2020 - Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd

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

Negative global cues weigh heavily on the expiry day: Angel Broking

Daily Markets - Sep 24, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 24, 2020 - Bonanza Portfolio

Mid-day market comment - Sep 24, 2020 - Angel Broking

Daily Market Wrap - Sep 23, 2020 - Angel Broking

Market fails to capitalize on the positive opening: Angel Broking

Daily Market Commentary - Sep 23, 2020 - Bonanza Portfolio

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

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

Intraday pullbacks face selling pressure: Angel Broking

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

Daily Market Commentary - Sep 22, 2020 - Bonanza Portfolio

Mid-day market commentary - Angel Broking

Rollover Analysis (September 22): Highest Put base at 11000 remains crucial support in settlement week...

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

PCR-OI surged 11% amid broad base meltdown: Angel Broking

Market tumbles on geopolitical concerns: Angel Broking

Daily Market Commentary - Sep 21, 2020 - Bonanza Portfolio

Technical & Derivatives Report - 21st September 2020 - Angel Broking

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

Some tentativeness around 11600 - 11650: Angel Broking

Market Outlook - Technical - Sep 18, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Derivatives Weekly View (September 18): Nifty likely to consolidate around 11500 in expiry week - ICICI Securities

Daily Markets - Sep 18, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - Sep 18, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Global weakness leads to some profit taking: Angel Broking

Daily Markets - Sep 17, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap Up - Sep 17, 2020 - Angel Broking

Daily Market Commentary - Sep 17, 2020 - Bonanza Portfolio

Technical View - Sep 17, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-up - 16th September, 2020 - Angel Broking

Daily Market Commentary - Sep 16, 2020 - Bonanza Portfolio

Technical View - Sep 16, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty reclaims 11500, courtesy to late surge in banking stocks: Angel Broking

Daily Markets - Sep 15, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 15, 2020 - Bonanza Portfolio

Market Wrap-up - Sep 15, 2020 - Angel Broking

Technical View - Sep 15, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities







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

disclaimer copyright © 2005 - 2019