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

| More

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

Posted On: 2021-06-07 17:05:09 (Time Zone: UTC)


After showing range bound action on Friday, Nifty shifted into a gradual upmove with choppy trade on Monday and closed the day higher by 81 points. After opening on an upside gap of 55 points, Nifty showed intraday consolidation after the opening and filled the opening upside gap. A gradual upmove has witnessed later in the mid to later part and the market finally closed near the highs.

A small positive candle was formed with lower shadow, which indicate range bound action in the market with buy on dips opportunity. We observe three back to back such candles over last three sessions and this indicate a breather type formation in the market.

Nifty registered a new all time high on Monday at 15773 and still there is no indication of any profit booking emerging from the new highs. The overall market breadth continued to be positive and performance was seen in the broad market indices like midcap and small cap segments. This could mean a display of inherent strength and lack of selling enthusiasm at the new highs.

Daily RSI is placed at 70 and is on a flat mode and there is no indication of any negative divergence developing at the highs. Hence, any turn up of daily RSI from here could mean further upside in the underlying Nifty.

Conclusion: The short term trend of Nifty continues to be positive with range bound movement. There is a possibility of further upside in the coming sessions. The next upside levels to be watched around 15950-16000 levels and this could be achieved in the one week. Immediate support is placed at 15650.


Source: Equity Bulls

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


Other Headlines:

Daily Market Wrap - July 27, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty's immediate support at 15700 - Rahul Sharma - Equity99

Daily Market Commentary - July 27, 2021 - Bonanza Portfolio

Post Market views - July 27, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - July 27, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - July 23, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - July 23, 2021 - Reliance Securities

Daily Market Wrap - July 23, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Currency Updates - July 23, 2021 - Kotak Securities

Technical View - July 23, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 23, 2021 - Bonanza Portfolio

Post Market views - July 22, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - July 22, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Currency Updates - July 22, 2021 - Kotak Securities

Rupee - July 22, 2021 - Reliance Securities

Daily Market Commentary - July 22, 2021 - Bonanza Portfolio

Technical View - July 22, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - July 19, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - July 19, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Commentary - July 19, 2021 - Bonanza Portfolio

Rupee - July 19, 2021 - Reliance Securities

Technical View - July 19, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - July 17, 2021 - Reliance Securities

Market Outlook - Technical - July 17, 2021 - ICICI Direct

Rupee - July 16, 2021 - Reliance Securities

Daily Market Wrap - July 16, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - July 16, 2021 - Bonanza Portfolio

16000 very much in sight now, banks need to chip in : Angel Broking

Kotak Securities - Evening Currency Updates - 16-07-2021 - Anindya Banerjee

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

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

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

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

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

Pre-Market views - July 15, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - July 14, 2021 - Reliance Securities

Daily Market Wrap - July 13, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - July 13, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - July 13, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - July 13, 2021 - Reliance Securities

Daily Market Commentary - July 13, 2021 - Bonanza Portfolio

Daily Market Wrap - July 12, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - July 12, 2021 - Bonanza Portfolio

Post Market views - July 12, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - July 12, 2021 - Reliance Securities

Technical View - July 12, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

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

Rupee Outlook - July 9, 2021 - Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

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

Rupee - July 9, 2021 - Reliance Securities


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

disclaimer copyright © 2005 - 2020