Amazon Great Indian Festival 2020 - Electronics
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Amazon Great Indian Festival 2020 - Electronics
Market Commentary

| More

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

Posted On: 2020-09-22 06:03:52


After witnessing a sharp weakness on Monday, Nifty slipped into decline on Tuesday and closed the day lower by 96 points. A long bear candle was formed with minor lower shadow. This pattern signal dominance of bears to show follow-through weakness.

Nifty showing weakness on Tuesday could open further weakness in the market for near term. In the last 3-4 occasions, the market has failed to witness sharp follow through declines, as it managed to show upside bounce after one session of sharp decline, in the last couple of months. This is not a good sign for bulls to sustain the highs.

Currently, Nifty is placed below the crucial support of previous swing high at 11185 (9th Sept). Hence, any decisive move below this area could open more weakness in the near term. Today's action of follow-through decline could rule out any possibility of strong upside bounce emerging from here or from the lows.

Under this circumstance, the last swing high of 11794 and the bearish engulfing pattern of daily and weekly timeframe could now be considered as an important top reversal pattern for the Nifty and that swing high is unlikely to be breached on upside in a hurry.

The short term trend of Nifty continues to be negative and now bear's have started to dominate the market. The immediate support of 11150-11100 is going to be broken lower in the short term and the market could slide to further lows. Any upside bounce attempt could encounter strong resistance around 11350-11400 and the near term downside target is intact at 10700.


Source: Equity Bulls

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

Amazon Great Indian Festival 2020 - Mobiles





Other Headlines:

Daily Markets - Oct 30, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rollover Report for October 2020 - November 2020: Angel Broking

Daily Market Wrap-Up - Oct 30, 2020 - Angel Broking

Technical View - Oct 30, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

October series concludes above 11600: Angel Broking

Daily Markets - Oct 29, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 29, 2020 - Bonanza Portfolio

Daily Market Wrap-Up - October 29, 2020 - Angel Broking

Rupee - Oct 29, 2020 - Reliance Securities

Technical View - Oct 29, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Technical View - Oct 28, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Make or break levels around 11700 - 11660: Angel Broking

Daily Market Commentary - Oct 28, 2020 - Bonanza Portfolio

Daily Markets - Oct 28, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Market Wrap-Up - Oct 28, 2020 - Angel Broking

Rupee - Oct 28, 2020 - Reliance Securities

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

Daily Market Commentary - Oct 27, 2020 - Bonanza Portfolio

11700 becomes the sheet anchor for the bulls: Angel Broking

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

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

Global uncertainty shakes our markets again: Angel Broking

Daily Market Commentary - Oct 26, 2020 - Bonanza Portfolio

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

Rupee - Oct 26, 2020 - Reliance Securities

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

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

Rupee - Oct 23, 2020 - Reliance Securities

Some tentativeness around 12000, but odds in favor of bulls: Angel Broking

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

Weekly options expiry ends tad below 11900: Angel Broking

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

Daily Market Commentary - Oct 22, 2020 - Bonanza Portfolio

Rupee - Oct 22, 2020 - Reliance Securities

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

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

Massive volatility haunts traders: Angel Broking

Market Wrap Up - Oct 21, 2020 - Angel Broking

Daily Market Commentary - Oct 21, 2020 - Bonanza Portfolio

Indian Rupee - Oct 21, 2020 - Reliance Securities

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

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

Daily Market Wrap-Up - Oct 20, 2020 - Angel Broking

Daily Market Commentary - Oct 20, 2020 - Bonanza Portfolio

Rupee - Oct 20, 2020 - Reliance Securities

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

Nifty back to safer zone as closes above 11850: Angel Broking

Daily Markets - Oct 19, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-Up - Oct 19, 2020 - Angel Broking

Technical View - Oct 19, 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