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

| More

10650 - Probably a trend deciding level: Angel Broking

Posted On: 2018-06-27 22:12:56

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

"Today's session started on a flat note; however, the selloff in the global markets continued to weigh down heavily on our markets. As the day progressed, the negativity reinforced and in the course of action, the Nifty eventually slipped below its recent crucial support of 10700.

In ideal scenario, a slide below recent support should have been interpreted as a breakdown from a consolidation range. But, we have been mentioning a range of 10700 - 10650 as a key support zone for the Nifty. The Nifty did not break its lower end and eventually closed at the midst of the range. One more thing that is putting us in two minds i.e. the construction of 'Bullish Wolfe Wave' pattern on hourly chart. It is considered as a contradictory pattern and has a complex structure. As per the requirement, all conditions have been met and hence, we are not too convinced with today's correction. We would rather wait for further confirmation whether its a beginning of new corrective move or a possibility of some bounce back. Going ahead, if index stays below 10650, it would confirm weakness and in that case, we could see our markets sliding lower. However, in bullish scenario, a move beyond 10720 would lead a strong bounce back towards 10760 or beyond.

At present, traders are advised to keep a note of these scenarios and should rather position themselves accordingly."


Source: Equity Bulls

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





Other Headlines:

Expect choppy moves in index, better to continue with stock centric approach: Angel Broking

Crude price and its impact will drive coming week market - Epic Research

Benchmarks once again stuck in a range: Angel Broking

Metals, real estate and fertilizers to perform well in July series : Epic Research

Majority of longs have been lightened - The Rollover Report: Angel Broking

Markets in a corridor of uncertainty: Angel Broking

All's well that ends well: Angel Broking

OPEC meet and trade war fear will keep the markets jittery : Epic Research

10700 - 10650 remains to be a crucial support: Angel Broking

Boredom continues as index gyrates in a slender range: Angel Broking

US-Sino trade war hits risky assets hard: Angel Broking

North Korea and the US finally smoke the pipes of peace: Angel Broking

IIP gets closer to 5% mark for April: Angel Broking

Stronger hands writing Index Puts - Angel Broking

Index continues its lethargic move: Angel Broking

Nifty reluctant to remain below 10558: Angel Broking

Market Quote by Anita Gandhi, Whole Time Director at Arihant Capital Markets

Market Quote by Gaurav Jain, Director, Hem Securities

Karnataka Election and Q4 Result is trigger for coming week market - Epic Research

Some hopes built ahead of Karnataka elections: Angel Broking

Market outlook - Sanjeev Zarbade, Vice-president-PCG Research at Kotak Securities

10690 earns respect from traders: Angel Broking

Some life seen in PSU banks: Angel Broking

DBS Economics & Strategy: This Week: Firm growth, hawkish undertones

Market outlook by Teena Virmani, Vice President - Research at Kotak Securities Ltd.

Q4 result will drive market in coming week : Epic research

Action pack week coming up next - Rahul Sharma, Senior Research Analyst at Equity99

10800 remain to be a sturdy wall: Angel Broking

Week gone by - Market Quote - Anita Gandhi, Whole Time Director at Arihant Capital Markets.

Week gone by - Market Quote - Gaurav Jain, Director, Hem Securities

Long Rollovers hints extension of ongoing move: Angel Broking

Reliance is widely expected to post an increase in Q4 - Epic Research

Nifty reclaims 10700, courtesy to Reliance and banking counters: Angel Broking

Market outlook - Sanjeev Zarbade, Vice-president - PCG Research, Kotak Securities

Weekly Market Outlook - Rahul Sharma, Senior Research Analyst - Equity99

Expiry factor pushed index beyond 10600: Angel Broking

DBS Macro strategy: INR volatility weighs on carry appetite

Market View - April 25, 2018 - Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund

Market View - BNP Paribas Mutual Fund - April 23, 2018

Marquee 'IT' names finally saw some profit taking: Angel Broking

Nifty, Sensex close with small weekly gain of 0.8%

Market Quote - Gaurav Jain - Director, Hem Securities

Weekly Market Outlook - Rahul Sharma - Senior Research Analyst at Equity99

Markets Outlook - Teena Virmani, Vice President - Research at Kotak Securities Ltd

Q4 earnings will affect the market next week - Epic Research

The hawkishness widens within the MPC: Angel Broking

Thinnest single day range in many months: Angel Broking

Economy: Normal monsoon on the cards (IMD monsoon forecast) - Kotak

India's fiscal deficit strains rupee: Angel Commodities Broking

GBP INR depreciates 3% in April - the positive momentum should continue: Angel Commodities Broking





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

disclaimer copyright © 2005 - 2018