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

| More

9000 reclaimed, expect further recovery: Angel Broking

Posted On: 2020-05-20 22:29:47


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

"Today, markets opened on a flat note very much in-line with muted global peers. But the relative underperformance continued if we compare with the recent move in most of the global peers. Post the flat opening, our markets made a valiant attempt to surpass the 9000 mark. But once again this acted as a sturdy wall and hence, we saw some profit booking from morning high. Finally, at the stroke of the penultimate hour, strong buying emerged across the board (especially in few heavyweights), which lifted markets higher before anyone could realise. Eventually Nifty ended the session with over a couple of percent gains.

Finally, today we managed to conquer the 9000 mark convincingly. And this is what we have been alluding since last couple of days. We were a bit sceptical of the decline that we were seeing. In addition, yesterday's daily candle confirmed a bullish 'Homing Pigeon' pattern and today's up move has certainly proved its worth. Going ahead, we expect the Nifty to continue this upward trajectory towards 9150 - 9220 levels. On the flipside, 9000 - 8932 would now provide a decent support for the market. Traders can use intraday decline to create long positions on weekly expiry day.

The Banking index once again proved to be the weakest link till the penultimate hour. But fortunately, some of the financial stocks picked up strong momentum in the last hour and in the process, the Bank Nifty too participated considerably in the last hour surge. Lot of other pockets too had good positive traction and hence, traders can start picking other sectoral movers as well."


Source: Equity Bulls

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





Other Headlines:

Nifty consolidates around 13000, but broader market outshines: Angel Broking

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

Rupee - Nov 27, 2020 - Reliance Securities

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

Rollover Analysis (November 27): Nifty may continue to consolidate amid high volatility...

November series ends on a positive note at 13000: Angel Broking

Market Wrap - Nov 26, 2020 - Angel Broking

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

Rupee - Nov 26, 2020 - Reliance Securities

Daily Market Commentary - Nov 26, 2020 - Bonanza Portfolio

Daily Markets - Nov 26, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

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

Some decent profit booking after a relentless run: Angel Broking

Market Wrap Up - Nov 25, 2020 - Angel Broking

Daily Market Commentary - Nov 25, 2020 - Bonanza Portfolio

Rupee - Nov 25, 2020 - Reliance Securities

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

13000 finally a reality, banking propels the move: Angel Broking

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

Daily Market Commentary - Nov 24, 2020 - Bonanza Portfolio

Market Commentary - Nov 24, 2020 - Angel Broking

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

13000 just a number now, hope to be the reality soon: Angel Broking

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

Market Wrap-Up - Nov 23, 2020 - Angel Broking

Daily Market Commentary - Nov 23, 2020 - Bonanza Portfolio

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

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

Rupee - Nov 20, 2020 - Reliance Securities

Daily Market Commentary - Nov 20, 2020 - Bonanza Portfolio

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

Euphoric move finally pauses with a sharp u-turn: Angel Broking

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

FIIs buying in equities highest for this financial year: Angel Broking

Rupee - Nov 19, 2020 - Reliance Securities

Daily Market Commentary - Nov 19, 2020 - Bonanza Portfolio

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

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

13000 is merely a formality now: Angel Broking

Daily Market Commentary - Nov 18, 2020 - Bonanza Portfolio

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

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

Nifty just shy away of 13000: Angel Broking

Daily Market Commentary - Nov 17, 2020 - Bonanza Portfolio

Rupee - Nov 17, 2020 - Reliance Securities

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

Covid-19 - Moderna vaccine update - Angel Broking

Technical & Derivatives Report - November 17, 2020 - Angel Broking

Currency Update - Nov 17, 2020 - Reliance Securities

Bulls delighted ahead of Diwali, hope to have fabulous SAMVAT: Angel Broking



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

disclaimer copyright © 2005 - 2019