The magnificent series of March 2019 ended on high spirits during yesterday’s session. Including the gain of yesterday’s session the index Nifty gained over 7% in derivative series of March 2019. Coming back to the previous session, post a flat opening Nifty gained strength as the day progressed to surge more than 100 points and close near day’s high. Meanwhile, the Nifty Bank index gained more than 400 points to close well above the 30K mark.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, apart from NIFTY METAL (-0.28%) all the other group indices ended with decent gains. Amongst them, NIFTY PSUBANK (+3.62%) stocks remained the biggest gainers for third consecutive session and were followed by NIFTY MEDIA (+3.48%) counters. From the F&O space, DHFL (+9.28%), IBULHSGFIN (+7.96%), and DISHTV (+7.29%) were the biggest gainers.
MARKET OUTLOOK
In contrast to over view, Nifty not only cleared the peak of 11573 but also close near the same which is a sign of strength. Although on a larger degree time frame we expected the Bull Run to continue but in short term we anticipated a small correction in the markets which now has failed. Thus, any follow up buying from here on could help the index to retest its life high of 11760 in the April series.
Meanwhile, on the downside yesterday’s low of 11452 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can rag the index towards 11300 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 domestic markets turned volatile yesterday ahead of the March F&O expiry wherein the benchmark indices underwent wild swings throughout the day to end in red. The index Nifty initially started the session with an upside gap to register an intraday high of 11546. However, in line with our sell on rise view we witnessed a sharp correction during the second half which dragged the index back to 11400 zone to close with decent loss. Once again the, Nifty Bank index provided decent support to the bulls by sustaining above 30000 mark with decent gains.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, there was a mixed picture in which NIFTY PHARMA (-1.04%) and NIFTY AUTO (-0.87%) stocks remained under pressure. On the other hand, NIFTY PSUBANK (+1.59%) and NIFTY MEDIA (+0.94%) stocks were the biggest gainers. From the F&O space, ICICIPRULI (+7.63%), YESBANK (+5.64%), and INDUSINDBK (+4.90%) were the biggest gainers.
MARKET OUTLOOK
In our previous report, we stated that the index Nifty is hovering around its recent peak of 11573 and looking at the risk reward ratio the condition seems to be lucrative to go short. If the index failed to breach the peak then it could retest 11300 – 11200 zone. Yesterday, Nifty turned from 11546 level to close near the lower end. We continue to maintain our stance that a healthy correction could be possible before markets reaching new highs.
Thus, we again advise traders to exit their long positions on any bounce from here. On the other hand, since the major trend is bullish investors are advised to start looking for bargain hunting once the index drift towards 11200 or below levels. The short term bearish view would be negated above 11573 which might take the index towards life high.Disclaimer)
Posted by Mehul Kothari | Published on 03-APR-2019
NIFTY
MARKET RECAP AND OUTLOOK
Once again the bulls took front seat during the week went by. The domestic markets maintained its upside journey after a short breather in the previous week wherein the benchmark indices closed with another significant gains. The index Nifty spot not only cleared the hurdle of 11573 but also managed to close well above 11600 mark. Now the ‘Doji’ formation which we discussed in our previous report has been negated. Thus, any follow up buying from here on could help the index to retest its life high of 11760 in the April series.
Above the same, we would enter an uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. On the downside, 11450 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can rag the index towards 11300 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)
Share Market Today - 29th March 2019
MARKET RECAP
KEY MARKET DATA POINTS
The magnificent series of March 2019 ended on high spirits during yesterday’s session. Including the gain of yesterday’s session the index Nifty gained over 7% in derivative series of March 2019. Coming back to the previous session, post a flat opening Nifty gained strength as the day progressed to surge more than 100 points and close near day’s high. Meanwhile, the Nifty Bank index gained more than 400 points to close well above the 30K mark.
Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, apart from NIFTY METAL (-0.28%) all the other group indices ended with decent gains. Amongst them, NIFTY PSUBANK (+3.62%) stocks remained the biggest gainers for third consecutive session and were followed by NIFTY MEDIA (+3.48%) counters. From the F&O space, DHFL (+9.28%), IBULHSGFIN (+7.96%), and DISHTV (+7.29%) were the biggest gainers.
MARKET OUTLOOK
In contrast to over view, Nifty not only cleared the peak of 11573 but also close near the same which is a sign of strength. Although on a larger degree time frame we expected the Bull Run to continue but in short term we anticipated a small correction in the markets which now has failed. Thus, any follow up buying from here on could help the index to retest its life high of 11760 in the April series.
Meanwhile, on the downside yesterday’s low of 11452 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can rag the index towards 11300 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 - 28th March 2019
MARKET RECAP KEY MARKET DATA POINTS The domestic markets turned volatile yesterday ahead of the March F&O expiry wherein the benchmark indices underwent wild swings throughout the day to end in red. The index Nifty initially started the session with an upside gap to register an intraday high of 11546. However, in line with our sell on rise view we witnessed a sharp correction during the second half which dragged the index back to 11400 zone to close with decent loss. Once again the, Nifty Bank index provided decent support to the bulls by sustaining above 30000 mark with decent gains. Right from the start, market breadth remained in the favour of advancing counters. On the sectoral front, there was a mixed picture in which NIFTY PHARMA (-1.04%) and NIFTY AUTO (-0.87%) stocks remained under pressure. On the other hand, NIFTY PSUBANK (+1.59%) and NIFTY MEDIA (+0.94%) stocks were the biggest gainers. From the F&O space, ICICIPRULI (+7.63%), YESBANK (+5.64%), and INDUSINDBK (+4.90%) were the biggest gainers. MARKET OUTLOOK In our previous report, we stated that the index Nifty is hovering around its recent peak of 11573 and looking at the risk reward ratio the condition seems to be lucrative to go short. If the index failed to breach the peak then it could retest 11300 – 11200 zone. Yesterday, Nifty turned from 11546 level to close near the lower end. We continue to maintain our stance that a healthy correction could be possible before markets reaching new highs. Thus, we again advise traders to exit their long positions on any bounce from here. On the other hand, since the major trend is bullish investors are advised to start looking for bargain hunting once the index drift towards 11200 or below levels. The short term bearish view would be negated above 11573 which might take the index towards life high.Disclaimer)
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Weekly BSE & NSE Gainers & Losers - 25th Mar to 29th Mar 2019.
NIFTY MARKET RECAP AND OUTLOOK Once again the bulls took front seat during the week went by. The domestic markets maintained its upside journey after a short breather in the previous week wherein the benchmark indices closed with another significant gains. The index Nifty spot not only cleared the hurdle of 11573 but also managed to close well above 11600 mark. Now the ‘Doji’ formation which we discussed in our previous report has been negated. Thus, any follow up buying from here on could help the index to retest its life high of 11760 in the April series. Above the same, we would enter an uncharted territory where another 200 – 300 points upside in Nifty cannot be ruled out. On the downside, 11450 would now act as an intermediate support for the markets. A breach of the same might halt the upside momentum which can rag the index towards 11300 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)