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

| More

Market defends key levels, real action seen in numerous themes : Angel Broking

Posted On: 2021-05-08 07:03:29 (Time Zone: UTC)


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

"In last few weeks, every Monday has brought some unexpected move at the opening and this week too it surprised everyone with a decent gap down opening. Lot of domestic factors weighed down heavily to trigger the downside gap and global cues had very little to contribute in it. Fortunately, Nifty managed to hold the key support in the initial hiccup and in fact, a good amount of buying at lower levels led to a complete recovery in the latter half. Barring Tuesday's sluggishness, we witnessed a slow and steady up move throughout the remaining part of the session to reclaim the 14800 mark. On a weekly basis, Nifty managed to clock over a percent gains in the inaugurated week of May month.

Since last few days the index seems to have lost its charm. Although it has been maintaining its positive posture throughout, the overall movement is quite lethargic. All key indices like NIFTY, BANKNIFTY and NIFTY IT are trapped in a slender range. As far as higher levels are concerned for Nifty, 14900 - 14960 - 15050 are the levels to watch out for; whereas on the flip side, 14750 - 14600 - 14450 are to be considered as immediate supports. Till the time we do not see index coming out of its congestion zone, such boredom is likely to continue. Thus, it's better not to trade aggressively in index and carrying overnight positions is strictly avoided. Taking a glance at the intraday charts, we can see the range shrinking drastically and hence, there is a high possibility that we may see a decisive breakout soon.

Although, key indices are displaying complete boredom, the broader market is clearly not short of actions. In fact, there were numerous themes that played out exceedingly well throughout the week. Every now and then we are observing some sector chipping in to keep the traders' fraternity engrossed all the time. Hence, the pragmatic approach would be to keep focusing on such potential movers to obtain better trading opportunities. One of the notable observations is the development in 'NIFTY MIDCAP' index. In the latter half of the week, it has managed to surpass the higher boundary of the cluster of resistance by a small margin. Couple of follow up moves in this basket would provide the real impetus for the next leg of the rally."


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