The domestic markets maintained its losing streak for the eight consecutive sessions yesterday amid the rising geopolitical worries. Although the week kicked off on an optimistic note but similar to previous few sessions the benchmark indices ended the session near day’s low. After registering an intraday high of 10760, the index Nifty closed more than 100 points lower from there near 10650 mark. On the other hand, even Nifty Bank index remained under pressure to close with decent loss.
Once again market breadth remained in the favour of declining counters throughout the session due to broad-based selloff. On the sectoral front, NIFTY REALTY (+0.76%) and NIFTY MEDIA (+0.68%) stocks were the biggest gainers whereas NIFTY PSU BANK (-1.25%) and FMCG (-1.17%) counters ended in loss. From the F&O space, RPOWER (+11.27%), RCOM (+10.81%) and RELINFRA (+6.63%) were the top performers.
MARKET OUTLOOK
At this juncture, Nifty is hovering an inch away from the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming session. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally.
Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10760 could bring the bulls back in action which can take Nifty back to 10850 - 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level. On the contrary, a close below 10580 could be dangerous for the bulls.
Posted by Mehul Kothari | Published on 18-FEB-2019
NIFTY
Market Recap and Outlook
The week went by was fully dominated by the bears on the D – Street amid the sharp selloff in broader markets. The index Nifty spot ended in red during all the five trading sessions of the week. During the process, Nifty spot nose dive from the peak of 10950 and almost met 10600 mark. Eventually, the index lost more than 2% from its previous close (Week on Week). Meanwhile, the Nifty Bank index ended with a loss of around 1.83% and that too below 27000 mark.
In our previous edition, we discussed about the reversal pattern known as “Evening Star” near the hurdle of 11100. The impact of the pattern was clearly evident during the week. Now at this juncture, Nifty has found support at the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming week. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally. Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10800 could bring the bulls back in action which can take Nifty back to 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level.Disclaimer)
Posted by Mehul Kothari | Published on 20-FEB-2019
Key stocks that were added during the month of January by the Mutual funds were Infosys, Axis bank, Reliance Ind., ICICI Bank, TCS, etc. while stocks that saw exits from the portfolio were GM Breweries, Yuken India, Bharat Road Network, JBM Auto, Indian Metals, etc.
Synopsis of the report and Industry Trends
As per the AMFI data the MF industry witnessed aggregate inflow of 65,500cr across the funds and categories with inflows in Liquid being the highest at 58,600cr. Pure equity funds saw an inflow of 6,880cr as compared to 17,500cr in the previous month. However, it is essential to point that 11,000cr inflow in the December was on account of inflows in ETFs.Mutual Fund Flows
SIP book of the MF industry remains healthy at 8,064cr per month. However, the growth of the SIP has seen a sharp stagnation in the past few months. The yearly incremental growth which was at 64% in Mar-18 has fallen to 21% y-o-y.
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MARKET RECAP
KEY MARKET DATA POINTS
The domestic markets maintained its losing streak for the eight consecutive sessions yesterday amid the rising geopolitical worries. Although the week kicked off on an optimistic note but similar to previous few sessions the benchmark indices ended the session near day’s low. After registering an intraday high of 10760, the index Nifty closed more than 100 points lower from there near 10650 mark. On the other hand, even Nifty Bank index remained under pressure to close with decent loss.
Once again market breadth remained in the favour of declining counters throughout the session due to broad-based selloff. On the sectoral front, NIFTY REALTY (+0.76%) and NIFTY MEDIA (+0.68%) stocks were the biggest gainers whereas NIFTY PSU BANK (-1.25%) and FMCG (-1.17%) counters ended in loss. From the F&O space, RPOWER (+11.27%), RCOM (+10.81%) and RELINFRA (+6.63%) were the top performers.
MARKET OUTLOOK
At this juncture, Nifty is hovering an inch away from the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming session. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally.
Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10760 could bring the bulls back in action which can take Nifty back to 10850 - 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level. On the contrary, a close below 10580 could be dangerous for the bulls.
Disclaimer
Previous Story
NIFTY Market Recap and Outlook The week went by was fully dominated by the bears on the D – Street amid the sharp selloff in broader markets. The index Nifty spot ended in red during all the five trading sessions of the week. During the process, Nifty spot nose dive from the peak of 10950 and almost met 10600 mark. Eventually, the index lost more than 2% from its previous close (Week on Week). Meanwhile, the Nifty Bank index ended with a loss of around 1.83% and that too below 27000 mark. In our previous edition, we discussed about the reversal pattern known as “Evening Star” near the hurdle of 11100. The impact of the pattern was clearly evident during the week. Now at this juncture, Nifty has found support at the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming week. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally. Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10800 could bring the bulls back in action which can take Nifty back to 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level.Disclaimer)
Next Story
Key stocks that were added during the month of January by the Mutual funds were Infosys, Axis bank, Reliance Ind., ICICI Bank, TCS, etc. while stocks that saw exits from the portfolio were GM Breweries, Yuken India, Bharat Road Network, JBM Auto, Indian Metals, etc. Synopsis of the report and Industry Trends As per the AMFI data the MF industry witnessed aggregate inflow of 65,500cr across the funds and categories with inflows in Liquid being the highest at 58,600cr. Pure equity funds saw an inflow of 6,880cr as compared to 17,500cr in the previous month. However, it is essential to point that 11,000cr inflow in the December was on account of inflows in ETFs.Mutual Fund Flows SIP book of the MF industry remains healthy at 8,064cr per month. However, the growth of the SIP has seen a sharp stagnation in the past few months. The yearly incremental growth which was at 64% in Mar-18 has fallen to 21% y-o-y. )