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

| More

Technical View - April 26, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Posted On: 2021-04-26 12:56:07 (Time Zone: UTC)


After showing volatility in on Friday, Nifty witnessed sustainable upmove on Monday and closed the day higher by 143 points. After opening on an upside gap of 108 points, Nifty made an attempt to move up in the early part of the session, It failed to sustain above 14550 levels and later shifted into a consolidation movement, which continued till the end of the session, The opening upside gap remains unfilled.

A small body of positive candle was formed with long upper shadow. Technically, this pattern indicates a formation another high wave type formation and this suggest that the market is preparing for another sell on rise action in coming sessions.

In previous two occasions similar type of pattern were formed on third day (after a rise of two days) around the hurdle and the market has finally witnessed a sharp one day decline in the subsequent session. Current pattern indicates a similar possibility in the market in the next 1-2 sessions. Nifty has faced stiff resistance at previous opening downside gap of 14550 levels (19 April) and showed intraday weakness from the highs on Monday.

Conclusion: The short term trend of Nifty continues to be positive, but the lack of strength to sustain the highs/at resistance continued. This pattern opens another round of downward correction from here. The quantum of weakness is expected to decide the short term trend of the market. However, a decisive move below the immediate support of 14400 is likely to open door for the next lower support of 14200-14150 levels in the short term. The sustainable up move could only resume above 14550 levels.


Source: Equity Bulls

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


Other Headlines:

Daily Markets - June 23, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Once again last hour selling drags Nifty lower : Angel Broking

Rupee - June 23, 2021 - Reliance Securities

Daily Market Commentary - June 23, 2021 - Bonanza Portfolio

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

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

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

Daily Markets - June 22, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - June 22, 2021 - Bonanza Portfolio

Rupee - June 22, 2021 - Reliance Securities

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

Daily Markets - June 21, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - June 21, 2021 - Reliance Securities

Daily Market Commentary - June 21, 2021 - Bonanza Portfolio

Technical View - June 21, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - June 21, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - June 18, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - June 18, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - June 18, 2021 - Reliance Securities

Daily Market Commentary - June 18, 2021 - Bonanza Portfolio

Post Market views - June 18, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

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


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

disclaimer copyright © 2005 - 2020