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

| More

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

Posted On: 2019-11-19 08:56:10

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

"The week kick started slightly higher owing to positive cues from the global peers. However, within first half an hour, index pared down its opening gains to sneak below the 11900 mark. During the remaining part of the session, index consolidated in a slender range of 30 points and spent most of its time inside the negative territory. Eventually, the lacklustre day of trade concluded with negligible losses.

Indices are clearly experiencing a time-wise correction and despite banking index having a head start, the momentum did not last too long. Since the overall intraday range was small, the chart structure in recent consolidation does not change at all. On the higher side, Nifty is facing a sturdy wall at 11950 and on the lower side, 11802 - 11750 are seen as intraday as well as near term supports. For the coming session, traders need to keep a tab on above mentioned levels; but with a positional view, our bias still remains bullish and we advise traders to create longs in any such intraday declines. We reiterate that it's a matter of time, we would see index traversing this intermediate barrier of 11950 to head towards all-time highs.

Although, indices are consolidating with no major momentum, bundle of individual stocks did extremely well for themselves. The Pharma space was clearly on a roll, especially some beaten down mid-cap names. Also, some of the marquee names from the Metal pack had shown good traction. We expect such individual themes to play out well during the remaining part of the week as well."


Source: Equity Bulls

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





Other Headlines:

Daily market commentary - 21st January 2020 - BONANZA PORTFOLIO LTD

Some reality check at record highs, but the broader trend still remains up: Angel Broking

Index remains choppy but midcaps continue its stellar run: Angel Broking

Daily market commentary - 15th January 2020 - BONANZA PORTFOLIO LTD

Market regains strength after early hiccup, midcaps continue to outshine: Angel Broking

Market trim losses post gap down opening: Angel Broking

Daily market commentary by - January 7, 2020 - BONANZA PORTFOLIO LTD

Market corrects sharply amidst global tensions: Angel Broking

Daily market commentary - 31st December 2019 - BONANZA PORTFOLIO LTD

Mid & small cap offers attractive risk-reward trade-off for 2020

Daily market commentary - 30th December 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 27th December 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 26th December 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 24th December 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 23rd December 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

Daily market commentary - 20th December 2019 - BONANZA PORTFOLIO LTD

Daily market commentary - 19th December 2019 - BONANZA PORTFOLIO LTD

Santa rally continues for the bulls: Angel Broking

Nifty breaks out to new all-time record close of 12221.65

Daily market commentary - 18th December 2019 - Mr Jitendra Upadhyay, Fundamental Analyst, BONANZA PORTFOLIO LTD

Daily market commentary - 17th December 2019 - Mr Jitendra Upadhyay, Fundamental Analyst, BONANZA PORTFOLIO LTD

New record highs for the index, broader markets rally: Angel Broking

Merely a breather before fresh highs: Angel Broking

Last hour rally brings some relief for traders: Angel Broking

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

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







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

disclaimer copyright © 2005 - 2019