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

| More

Market trim losses post gap down opening: Angel Broking

Posted On: 2020-01-08 21:19:09


Market Wrap-up by Mr. Ruchit Jain (Equity Technical Analyst, Angel Broking):

"The increased US Iran tensions had a negative impact on most of the Asian bourses in the morning and hence, out markets too started the session with a gap down of more than 100 points. However, the index then recovered gradually throughout the day and trimmed majority of losses to end above the 12000 mark.

Owing to the news of Iran firing missiles at American forces based in Iraq, the benchmark indices started the session with a gap down opening. However, usually during such gap down days, the follow up move post opening is more important to determine the trend. The indices did not witness any follow up selling post opening and infact it recovered gradually during the day to trim majority of the losses. Inspite of indices trading in the red, the highlight were the cash based midcap and small cap names which witnessed good momentum throughout the day. Thus, this entire scenario indicates that the index might continue to see some consolidation and 11900-12000 range is likely to act as a support. On the flipside, 12150-12200 is the immediate resistance which needs to be surpassed for resumption of the uptrend. So as of now, the index could trade within the range of 11900-12200 and a breakout beyond the same will lead to a directional move.

However, stock specific momentum still continues in the broader markets and hence, traders should be more focused on picking stocks which could provide better trading opportunities in near term."


Source: Equity Bulls

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





Other Headlines:

Derivative Insights - April 9, 2020 - Geojit

FX Monitor - April 9, 2020 - Geojit

Some profit taking at 9000: Angel Broking

Daily Market Commentary - April 8, 2020 - Bonanza Portfolio

Technical Observation - April 8, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Derivative Insigths - April 8, 2020 - Geojit

FX Monitor - April 8, 2020 - Geojit

Bears stunned by astonishing recovery, next level to watch at 9000: Angel Broking

Daily Market Commentary - April 7, 2020 - Bonanza Portfolio

Shorts in financials leads to underperformance: Angel Broking

Relief rally fizzles out, pharma becomes the safe haven space: Angel Broking

Angel Broking on RBI Announcement : RBI reducing Market timings

Daily Market Commentary - April 3, 2020 - Bonanza Portfolio

Technical Observation - April 1, 2020 - HDFC securities

Daily Market Commentary - April 1, 2020 - Bonanza Portfolio

Defensive sector stocks witness buying interest: Angel Broking

Daily market commentary - March 31, 2020 - Bonanza Portfolio

Markets falls due to selling in Banking stocks: Angel Broking

Daily market commentary - March 30, 2020 - Bonanza Portfolio

Technical Observation - March 30, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Some respite after recent turmoil, 8000 becomes key support: Angel Broking

Rollover Report for March-April 2020 - Angel Broking

Daily market commentary - 27th March 2020 - Bonanza Portfolio

Relief move extends for the third day: Angel Broking

Technical Observation - March 26, 2020 Nagaraj Shetti - Technical Analyst, HDFC securities

Daily market commentary - 26th March 2020 - Bonanza Portfolio

Some relief after recent pain, still avoid aggressive bets: Angel Broking

Daily market commentary - March 25, 2020 - Bonanza Portfolio

Some relief in global markets, 8000 to watch out in Nifty: Angel Broking

Daily market commentary - March 24, 2020 - Bonanza Portfolio

Technical Observation - March 24, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Daily Market Wrap Up - 23rd March 2020 - Angel Broking

Daily market commentary - March 23, 2020 - Bonanza Portfolio

Technical Observation - March 23, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Some recovery from demonetisation lows: Angel Broking

Daily market commentary - March 20, 2020 - Bonanza Portfolio

Technical Observation - March 20, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Daily market commentary - March 19, 2020 - Bonanza Portfolio

Technical Observation - March 19, 2020 - Nagaraj Shetti, Technical Analyst at HDFC Securities

Market has taught everyone, we should never underestimate the 'Uncertainty': Angel Broking

Technical Observation - March 18, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Daily market commentary - March 18, 2020 - Bonanza Portfolio Ltd

Daily Market Commentary - March 17, 2020 - Bonanza Portfolio

Technical Observation - March 17, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Comments on RBI announcement - Suman Chowdhury, President - Ratings at Acuité Ratings & Research

Technical Observation - March 16, 2020 - Nagaraj Shetti - Technical Analyst, HDFC securities

Expectation from RBI Governor Press Conference today - Acuité Ratings & Research

Daily market commentary - March 13, 2020 - Bonanza Portfolio

CPI & IIP - Karan Mehrishi, Lead Economist at Acuité Ratings & Research Limited

View on IIP and CPI data by Upasna Bhardwaj, Economist, Kotak Mahindra Bank







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

disclaimer copyright © 2005 - 2019