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

| More

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

Posted On: 2020-03-25 19:01:20


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

"Since yesterday morning, markets across the globe were experiencing a strong bounce back and clearly we were not reacting in the similar fashion. Despite US markets posting a colossal overnight rally, we started the day marginally in the red today, which was mainly a hangover of PM Modi's last evening announcement on country lockdown for 21 days. After initial hiccups, we finally joined hands with our global peers and a strong buying across the board thereafter pushed Nifty significantly higher to reclaim the 8300 mark.

In our previous article, we had mentioned how markets are hinting towards a possible rebound and it was very much overdue also after recent relentless fall. All markets across the globe were deeply oversold and hence, a decent bounce back was on cards. For the day, we were observing 8000 as a crucial hurdle. The moment index surpassed and stayed for few minutes, we saw strong bout of short covering thereafter to head towards the mentioned zone of 8200 - 8400. Now market has given the most awaited rebound, but traders should not get carried away by this. It may extend further also, but the uncertainty with respect to coronavirus is still looming over. Till the time it does not subside considerably, we should avoid aggressive bets in the market. At present, it's advisable to take one step at a time and momentum traders should look to book profits on a regular basis.

For the coming session, 8150-8000 would be seen as sacrosanct support for the coming session; whereas on the higher side, 8450 - 8600 are the levels to watch. The highlight of today's session was the stupendous relief rally from the banking space which has been the weakest link of late. Let see how it moves going ahead."


Source: Equity Bulls

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





Other Headlines:

Financial space drives the rally, base shifts at 10689: Angel Broking

Daily Markets - July 7, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Technical & Derivatives Report - 7th July 2020 - Angel Broking

Technical View - July 7, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Technical View - July 6, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 6, 2020 - Bonanza Portfolio

Nifty continues its upmove, midcaps in momentum: Angel Broking

Daily Markets - July 6, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Market Outlook - F&O - Amit Gupta, Head - Derivatives, ICICI direct

Market Outlook - Technical - Dharmesh Shah, Head - Technical, ICICI direct

Broader market outperformance to extend.. - Market Outlook - ICICI Securities

Daily Market Commentary - July 3, 2020 - Bonanza Portfolio

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

Daily Markets - July 2, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 2, 2020 - Bonanza Portfolio

Indian Rupee - July 2, 2020 - Mr. Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking)

Nifty at 4-months high, base shifts at 10300: Angel Broking

Technical View - July 2, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Markets Daily - July 1, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Financial space takes a lead, Nifty reclaims 10400: Angel Broking

Daily Market Commentary - July 1, 2020 - Bonanza Portfolio

Technical View - July 1, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - June 26, 2020 - Bonanza Portfolio

Technical View - June 26, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Market Outlook - F&O - June 26, 2020 - ICICI Securities

Market Outlook - Technical - June 26, 2020 - ICICI Securities

Stock specific activity to remain in focus amid consolidation in benchmark indices... - ICICI Securities

Bulls defended the territory, better to take one step at a time: Angel Broking

Daily Markets - June 25, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - June 25, 2020 - Bonanza Portfolio

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

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

Daily Market Commentary - June 22, 2020 - Bonanza Portfolio

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

Broader markets witness buying momentum: Angel Broking

Daily Market Commentary - June 19, 2020 - Bonanza Portfolio

Technical View - June 19, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - June 18, 2020 - Bonanza Portfolio

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

Nifty reclaims 10000 with some authority: Angel Broking

Call writers compelled to unwind positions on expiry day: Angel Broking

Geopolitical concerns keeps market on toes: Angel Broking

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

Daily Market Commentary - June 17, 2020 - Bonanza Portfolio

Geopolitical concerns haunts street, but manages to recover: Angel Broking

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

Daily Market Commentary - June 16, 2020 - Bonanza Portfolio

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

Global sell off extends, fortunately no major damage here: Angel Broking

Market Performance - June 15, 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