Daily market commentary - 21st January 2020 - BONANZA PORTFOLIO LTD

By Mr Vishal Wagh, Research Head

"Today, follow up selling has seen post sharp fall yesterday. But many midcap stocks continued with there up move. Nifty Midcap 100 and Nifty small-cap 100 index closed flattish. Money flow from large-cap to mid and small caps is consistently visible in the last couple of weeks. Nifty bank remained under pressure. Stocks like Bharti Airtel and Drready hit fresh 52 weeks high whereas, IOC hit fresh 52 weeks low. As many as twenty stocks from Nifty 500 baskets mead new 52 weeks high few of them are Canfinhome, VBL, Aubank, Centurytext, Gugasltd, Sudarschem, Atul and CDSL whereas, Relcapital and Havells made 52 weeks low. Market Breadth remains steady for every looser there was a gainer. Nifty just managed to close at major support of 12170. It is advisable for investors to utilize every dip to invest in quality midcap stocks."

Source : Equity Bulls

Keywords