For the second consecutive session, the domestic markets remained flat where in the benchmark indices remained stuck in a trading range. The index Nifty ended the session above 11700 but we observed some profit booking in the broader markets. On the other hand, Nifty Bank index too remained flat and ended with marginal gains.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, we observed a mixed picture wherein NIFTY REALTY (+2.32%) and NIFTY PSU BANK (+1.19%) stocks were the top performers. On the other hand, NIFTY MEDIA (-0.87%) and NIFTY PHARMA (-0.84%) stocks remained under pressure. From the F&O space, SUZLON (+9.6%), TATAMOTORS (+8.6%), and BEL (+6.01%) were the biggest gainers.
MARKET OUTLOOK
Since there is hardly any change in the price structure of Nifty spot, we reiterate our view that the index is poised to retest all time high of 11760. A move above the same will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, at the same time the selling in broader markets during the last couple of sessions hints towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally.
On the downside, 11630 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can drag the index towards 11450 mark. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility.
Posted by Mehul Kothari | Published on 03-APR-2019
MARKET RECAP
KEY MARKET DATA POINTS
The week began with another optimistic session where the benchmark indices surged another percent during the second half. However some profit booking at higher levels forced the markets to shed half of its gain and close with flat gains. The index Nifty almost went near the peak of 11760 but closed well below 11700 mark. Meanwhile, Nifty Bank index too lost around 500 points from its high and ended in negative terrain.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, we observed a mixed picture wherein NIFTY METAL (+1.84%) and NIFTY IT (+1.33%) stocks were the top performers. On the other hand, NIFTY REALTY (-0.87%) and NIFTY PVT BANK (-0.75%) stocks remained under pressure. From the F&O space, TATAMTRDVR (+7.71%), TATAMOTORS (+7.20%), and IRB (+7.19%) were the biggest gainers.
MARKET OUTLOOK
We continue to go with our view stated in latest edition of Weekly Pulse that the index Nifty is poised to retest all time high of 11760. A move above the same will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, at the same time the selling pressure of yesterday’s session is hinting towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally.
On the downside, 11630 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can drag the index towards 11450 mark. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility.
Disclaimer)
Posted by Mehul Kothari | Published on 04-APR-2019
MARKET RECAP KEY MARKET DATA POINTS
It was high volatile session yesterday on the D – Street since the benchmark indices registered their historical high and closed near day’s low. The index Nifty made a new life high of 11761 but closed well below 11700 mark with a loss of 70 odd points. On the other hand, Nifty Bank index corrected almost 600 points from the day’s high to close with significant loss.
The positive market breadth turned in the favour of declining counters as the day progressed. On the sectoral front, the selloff was so intense that none of the group indices ended in green. From the losers, NIFTY PSU BANK (-2.72%) and NIFTY MEDIA (-2.34%) stocks remained under pressure. From the F&O space, AMARAJABAT (-7.10%), SUZLON (+5.07%), and RELCAPITAL (-5.02%) were the biggest dampeners.
MARKET OUTLOOK
In line with our view, the index Nifty registered a new high of 11761 but failed to capitalize on the same. Very soon after posting the new peak, we witnessed sharp selling in the second half. This too was very much in line with our expectations. At this juncture, we are observing a bearish reversal candle on the daily chart. A sustainable move below the low of 11629 might drag the index towards 11550 mark and this could start the profit booking selling.
On the other hand, a move above 11761 will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, the selling in broader markets during the last couple of sessions hints towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility.
Disclaimer)
Share Market Today - 3rd April 2019
MARKET RECAP
KEY MARKET DATA POINTS
For the second consecutive session, the domestic markets remained flat where in the benchmark indices remained stuck in a trading range. The index Nifty ended the session above 11700 but we observed some profit booking in the broader markets. On the other hand, Nifty Bank index too remained flat and ended with marginal gains.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, we observed a mixed picture wherein NIFTY REALTY (+2.32%) and NIFTY PSU BANK (+1.19%) stocks were the top performers. On the other hand, NIFTY MEDIA (-0.87%) and NIFTY PHARMA (-0.84%) stocks remained under pressure. From the F&O space, SUZLON (+9.6%), TATAMOTORS (+8.6%), and BEL (+6.01%) were the biggest gainers.
MARKET OUTLOOK
Since there is hardly any change in the price structure of Nifty spot, we reiterate our view that the index is poised to retest all time high of 11760. A move above the same will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, at the same time the selling in broader markets during the last couple of sessions hints towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally.
On the downside, 11630 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can drag the index towards 11450 mark. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility.
Disclaimer
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Share Market Today - 2nd April 2019
MARKET RECAP KEY MARKET DATA POINTS The week began with another optimistic session where the benchmark indices surged another percent during the second half. However some profit booking at higher levels forced the markets to shed half of its gain and close with flat gains. The index Nifty almost went near the peak of 11760 but closed well below 11700 mark. Meanwhile, Nifty Bank index too lost around 500 points from its high and ended in negative terrain. Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, we observed a mixed picture wherein NIFTY METAL (+1.84%) and NIFTY IT (+1.33%) stocks were the top performers. On the other hand, NIFTY REALTY (-0.87%) and NIFTY PVT BANK (-0.75%) stocks remained under pressure. From the F&O space, TATAMTRDVR (+7.71%), TATAMOTORS (+7.20%), and IRB (+7.19%) were the biggest gainers. MARKET OUTLOOK We continue to go with our view stated in latest edition of Weekly Pulse that the index Nifty is poised to retest all time high of 11760. A move above the same will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, at the same time the selling pressure of yesterday’s session is hinting towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally. On the downside, 11630 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can drag the index towards 11450 mark. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility. Disclaimer)
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Share Market Today - 4th April 2019
MARKET RECAP KEY MARKET DATA POINTS It was high volatile session yesterday on the D – Street since the benchmark indices registered their historical high and closed near day’s low. The index Nifty made a new life high of 11761 but closed well below 11700 mark with a loss of 70 odd points. On the other hand, Nifty Bank index corrected almost 600 points from the day’s high to close with significant loss. The positive market breadth turned in the favour of declining counters as the day progressed. On the sectoral front, the selloff was so intense that none of the group indices ended in green. From the losers, NIFTY PSU BANK (-2.72%) and NIFTY MEDIA (-2.34%) stocks remained under pressure. From the F&O space, AMARAJABAT (-7.10%), SUZLON (+5.07%), and RELCAPITAL (-5.02%) were the biggest dampeners. MARKET OUTLOOK In line with our view, the index Nifty registered a new high of 11761 but failed to capitalize on the same. Very soon after posting the new peak, we witnessed sharp selling in the second half. This too was very much in line with our expectations. At this juncture, we are observing a bearish reversal candle on the daily chart. A sustainable move below the low of 11629 might drag the index towards 11550 mark and this could start the profit booking selling. On the other hand, a move above 11761 will bring the markets in uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. However, the selling in broader markets during the last couple of sessions hints towards some kind of distribution in the market. Thus, it’s better to stay light during the coming upside since that could possibly be the last leg of rally. Traders are advised to avoid over leveraged positions and maintain strict stop loss on positional trades since the markets are now entering the month of general election wherein we might witness surge in volatility. Disclaimer)