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

| More

Technical View - May 6, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Posted On: 2021-05-06 12:37:19 (Time Zone: UTC)


Nifty showed follow-through upmove on Thursday, after showing an upside recovery from the lows in the previous session and closed the day higher by 106. After opening on a positive note on Thursday, the market moved up gradually for the whole session. Intraday dips in between were used as buying opportunity. Nifty closed near the upper end of the day.

A reasonable long candle was formed with minor lower shadow. Technically. this pattern signal a buy on dips in the market amidst a range movement. The long lower shadow of the last two rising candles shows emergence of buying on intraday dips.

Nifty is now placed at the crucial upper resistance of around 14725 (swing high of 4th May) and a sustainable move above this hurdle could open next upside resistance of around 14900-15000 levels in the short term, before showing a next round of weakness from the highs.

Nifty on the weekly chart is making another attempt of upside breakout of the down sloping trend line around 14700 levels, after failing to sustain above this trend line breakout in last week. This is positive indication.

Conclusion: The underlying trend of Nifty continues to be positive with range bound action. A sustainable move above 14725 is likely to result further strengthening of upside momentum and that is likely to pull the market towards 14900-15000 levels again in the near term. Immediate support is placed at 14610.


Source: Equity Bulls

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


Other Headlines:

Rupee - June 17, 2021 - Reliance Securities

Daily Market Wrap - June 17, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 17, 2021 - Bonanza Portfolio

Post Market views - June 17, 2021 - Mr. Vikas Jain, Senior Research Analyst at Reliance Securities

Technical View - June 17, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 16, 2021 - Reliance Securities

Daily Markets - June 16, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 16, 2021 - Bonanza Portfolio

Post Market views - June 16, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 16, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 15, 2021 - Reliance Securities

Daily Market Wrap - June 15, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 15, 2021 - Bonanza Portfolio

Post Market views - June 15, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 15, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 14, 2021 - Reliance Securities

Daily Markets - June 14, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 14, 2021 - Bonanza Portfolio

Post Market views - June 14, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 14, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 11, 2021 - Reliance Securities

Daily Market Wrap - June 11, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty at 15800 but midcap index at crucial juncture now : Angel Broking

Sensex Hitting Record Highs - Views of Mr. Amar Ambani, Senior President and Head of Research - Institutional Equities, YES SECURITIES

Post Market views - June 11, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 11, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 10, 2021 - Reliance Securities

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

Daily Market Commentary - June 10, 2021 - Bonanza Portfolio

Technical View - June 10, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - June 10, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - June 9, 2021 - Reliance Securities

Daily Market Wrap-Up - June 9, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 9, 2021 - Bonanza Portfolio

Post Market views - June 9, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 9, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - June 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Benchmark continues to make new high, enters crucial zone : Angel Broking

Rupee - June 7, 2021 - Reliance Securities

Daily Market Commentary - June 7, 2021 - Bonanza Portfolio

Post Market views - June 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 7, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Market Outlook: Technical - June 5, 2021

Daily Market - June 4, 2021 - Mr. Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

Daily Market Commentary - June 4, 2021 - Bonanza Portfolio

Post Market views - June 4, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - June 4, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 3, 2021 - Reliance Securities

Daily Markets - June 3, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Gravity defying move continues, Nifty touches 15700 on weekly expiry


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

disclaimer copyright © 2005 - 2020