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

| More

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

Posted On: 2021-06-14 17:05:21 (Time Zone: UTC)


After the formation of doji type candle pattern on Friday, Nifty witnessed a high volatility with larger intraday movements of down and upmove on Monday and managed to close slightly higher by around 10 points. After opening on a downside gap, Nifty slipped into a sharp intraday weakness in the early part of the session. An excellent intraday buying has emerged from the day's low of 15606 in the early-mid part and the upside continued for the whole session. The opening downside gap has been filled completely.

A small positive candle was formed at the new highs with long lower shadow. Technically, this market action signal a formation of hanging man type candle pattern. Normally, formation of hanging man after a reasonable upmove or at the highs could act as as top reversal pattern, post confirmation. We now observe two back to back negative type candle patterns like doji and hanging man at the highs in the last two sessions. This could raise some concern for bulls to sustain the higher levels.

The upper area of 15800-15900 is now acting as a stiff resistance for the market at highs. At the lower levels, the daily 10 period EMA has been continuously offering support for the Nifty. Currently, the said moving average support is placed at 15670 levels.

Conclusion: The short term trend of Nifty continuous to be positive and there is no indication of any reversal pattern unfolding at the highs. At the same time, the market is finding stiff resistance around 15800-15900 levels and sharp intraday profit bookings are triggering from the highs. Till Nifty decisively crosses above 15900 levels, the high volatility likely to be expected in the next 1-2 sessions. Immediate support is placed at 15670.


Source: Equity Bulls

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


Other Headlines:

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

Daily Market Commentary - July 9, 2021 - Bonanza Portfolio

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

Currency Updates - July 8, 2021 - Kotak Securities

Markets Daily - Mr. Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

Rupee - July 8, 2021 - Reliance Securities

Daily Market Commentary - July 8, 2021 - Bonanza Portfolio

Post Market views - July 8, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - July 8, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - July 7, 2021 - Reliance Securities

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

Daily Market Commentary - July 7, 2021 - Bonanza Portfolio


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

disclaimer copyright © 2005 - 2020