Daily market commentary - 15th January 2020 - BONANZA PORTFOLIO LTD

Mr Vishal Wagh, Research Head

The Nifty closed with 'Hanging Man' candlestick pattern, which is bearish in nature, after covering major losses in a last one hour of trade. Small-cap & midcap are major gainers whereas, profit booking has seen in heavyweight Nifty stocks due to which Nifty struggled to come in green throughout the day. Nifty Realty extended gains whereas Nifty Auto maintained in green. Market breadth remains strong for a looser there were a couple of gainers. Cement sector has seen some buying interest on the back of an increase in cement prices by Rs.30 per bag. High beta stocks like Jublfood, Coromandel, Triveni, Welcrop, Avantifeeds, Apex, Trent, MCX, Waterbase, SRF, Rallis etc. made new 52 week high & low beta stocks like Asian paint, Dabur, Bergerpaint etc. joined the party. Stocks like Bandhan Bank & IndusInd Bank lost the ground post-factored-in results yesterday. It is advisable to the trader to dance near to the exit gate else they need to pay a bill for the party.

Source : Equity Bulls

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