Finally the bulls retaliated back during yesterday’s session in the absence of any negative triggers. The domestic markets started the session with an upside gap and gained momentum as the day progressed. Eventually, the index Nifty spot closed with decent gain of 100 points. Meanwhile, the Nifty Bank index too surged around 250 points but is still trading below 29K mark.
Despite a bullish session, the market breadth remained in the favour of declining counters throughout the session which indicated selling in individual stocks. On the sectoral front, apart from NIFTY PHARMA (-0.21%) all the other group indices closed in positive terrain. With regards to gainers, NIFTY MEDIA (+2.26%) and NIFTY METAL (+1.17%) stocks were the biggest performers. From the F&O space, TATAGLOBAL (+11.56%), TATACHEM (+8.66%) and ZEEL (+8.56%) were the leaders.
MARKET OUTLOOK
As expected, buying emerged from the lower levels during yesterday’s session. However, Nifty is yet to clear the initial hurdle of 11300. Hence we maintain our stance that a move above 11300 could trigger fresh momentum on the upside. In such scenario, Nifty has potential to retest 11400 – 11600 levels.
In the upcoming sessions, 11100 - 11000 might act as strong base for the bulls and hence traders can use a dips from here to initiate fresh long positions. Short term traders can follow a stop of 11000 but traders willing to hold positions with regards to election verdict might accumulate the index fut with a stop below 10700. We advise traders to avoid over leveraged positions and follow strict stop loss.
BANKNIFTY : HOURLY CHART
Outlook : Bullish
Given above is the hourly chart of NIFTY BANK index which depicts that the index was falling in a shrinking range
The index confirmed a breakout from that range which resembles bullish “Falling Wedge’ pattern
The price action is accompanied with a breakout in RSI too which indicates fresh upside
Traders can buy the index future near 28900 with a stop of 28500 for the target of 29700
Posted by Mehul Kothari | Published on 17-MAY-2019
NIFTY DAILY CHART
The domestic market stared the session with an upside gap following the stable global cues. However the moment was short lived since the volatility once again spooked the bulls. The benchmark index Nifty spot almost retested the 11300 mark but closed with significant loss of 65 points. The index in fact sneaked below 11200 mark. Meanwhile, the Nifty Bank index too lost 300 points in futures.
Yet again the market breadth remained in the favour of declining counters throughout the session which indicated selling in individual stocks. On the sectoral front, apart from NIFTY REALTY (+0.32%) and NIFTY IT (+0.09%) all the other group indices closed in negative terrain. With regards to losers, NIFTY MEDIA (-3.74%) and NIFTY METAL (-2.10%) stocks were the biggest laggards. From the F&O space, SRF (+7.24%), BAJFINANCE (+4.00%) and JUBLFOOD (+3.63%) were the leaders.
MARKET OUTLOOK
Yesterday, 11300 acted as supply zone for the index and hence we maintain our stance that a move above 11300 could trigger fresh momentum on the upside. In the upcoming session, 11100 - 11000 might act as strong base for the bulls and hence traders can use a dips from here to initiate fresh long positions. Short term traders can follow a stop of 11000 but traders willing to hold positions with regards to election verdict might accumulate the index fut with a stop below 10700.
We advise traders to avoid over leveraged positions and follow strict stop loss.Click Here to Download the ReportDisclaimer)
Posted by Mehul Kothari | Published on 17-MAY-2019
Key stocks that were added during the month of January by the Mutual funds were TCS, ICICI, Kotak Bank, HDFC Bank, Ultratech Cement, Cipla, etc while stock while stocks that saw complete exits from the portfolio were Mirza International, Sintex, Him Teknoforge, Geojit Financial, etc. New stock entries were Polycab, Metropolis, Rail Vikas, Neogen which were IPOs.
Synopsis of the report and Industry Trends
As per the AMFI data the MF industry witnessed one lakh crore inflow during the month of April across all the fund categories with Liquid funds being the main gainers in terms of inflows.
Pure equity funds saw an muted inflow of 4,168cr as compared to 9,000cr in the previous month. Surprisingly ETF witnessed outflows in April, which is probably profit booking after healthy gains in the large caps segment during Feb and March. ETF saw outflow of 4,259cr.Mutual Fund Flows
SIP book of the MF industry remains healthy at 8,238cr per month. The yearly incremental growth picked up after being stagnant for quite a few months.
Top 5 Asset Gainers
Top 5 Asset Losers)
Share Market Today - 17th May 2019
NIFTY DAILY CHART
Finally the bulls retaliated back during yesterday’s session in the absence of any negative triggers. The domestic markets started the session with an upside gap and gained momentum as the day progressed. Eventually, the index Nifty spot closed with decent gain of 100 points. Meanwhile, the Nifty Bank index too surged around 250 points but is still trading below 29K mark.
Despite a bullish session, the market breadth remained in the favour of declining counters throughout the session which indicated selling in individual stocks. On the sectoral front, apart from NIFTY PHARMA (-0.21%) all the other group indices closed in positive terrain. With regards to gainers, NIFTY MEDIA (+2.26%) and NIFTY METAL (+1.17%) stocks were the biggest performers. From the F&O space, TATAGLOBAL (+11.56%), TATACHEM (+8.66%) and ZEEL (+8.56%) were the leaders.
MARKET OUTLOOK
As expected, buying emerged from the lower levels during yesterday’s session. However, Nifty is yet to clear the initial hurdle of 11300. Hence we maintain our stance that a move above 11300 could trigger fresh momentum on the upside. In such scenario, Nifty has potential to retest 11400 – 11600 levels.
In the upcoming sessions, 11100 - 11000 might act as strong base for the bulls and hence traders can use a dips from here to initiate fresh long positions. Short term traders can follow a stop of 11000 but traders willing to hold positions with regards to election verdict might accumulate the index fut with a stop below 10700. We advise traders to avoid over leveraged positions and follow strict stop loss.
BANKNIFTY : HOURLY CHART
Outlook : Bullish
Disclaimer
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Share Market Today - 16th May 2019
NIFTY DAILY CHART The domestic market stared the session with an upside gap following the stable global cues. However the moment was short lived since the volatility once again spooked the bulls. The benchmark index Nifty spot almost retested the 11300 mark but closed with significant loss of 65 points. The index in fact sneaked below 11200 mark. Meanwhile, the Nifty Bank index too lost 300 points in futures. Yet again the market breadth remained in the favour of declining counters throughout the session which indicated selling in individual stocks. On the sectoral front, apart from NIFTY REALTY (+0.32%) and NIFTY IT (+0.09%) all the other group indices closed in negative terrain. With regards to losers, NIFTY MEDIA (-3.74%) and NIFTY METAL (-2.10%) stocks were the biggest laggards. From the F&O space, SRF (+7.24%), BAJFINANCE (+4.00%) and JUBLFOOD (+3.63%) were the leaders. MARKET OUTLOOK Yesterday, 11300 acted as supply zone for the index and hence we maintain our stance that a move above 11300 could trigger fresh momentum on the upside. In the upcoming session, 11100 - 11000 might act as strong base for the bulls and hence traders can use a dips from here to initiate fresh long positions. Short term traders can follow a stop of 11000 but traders willing to hold positions with regards to election verdict might accumulate the index fut with a stop below 10700. We advise traders to avoid over leveraged positions and follow strict stop loss.Click Here to Download the ReportDisclaimer)
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Mutual Fund Portfolio Trends in India - May 2019
Key stocks that were added during the month of January by the Mutual funds were TCS, ICICI, Kotak Bank, HDFC Bank, Ultratech Cement, Cipla, etc while stock while stocks that saw complete exits from the portfolio were Mirza International, Sintex, Him Teknoforge, Geojit Financial, etc. New stock entries were Polycab, Metropolis, Rail Vikas, Neogen which were IPOs. Synopsis of the report and Industry Trends As per the AMFI data the MF industry witnessed one lakh crore inflow during the month of April across all the fund categories with Liquid funds being the main gainers in terms of inflows. Pure equity funds saw an muted inflow of 4,168cr as compared to 9,000cr in the previous month. Surprisingly ETF witnessed outflows in April, which is probably profit booking after healthy gains in the large caps segment during Feb and March. ETF saw outflow of 4,259cr.Mutual Fund Flows SIP book of the MF industry remains healthy at 8,238cr per month. The yearly incremental growth picked up after being stagnant for quite a few months. Top 5 Asset Gainers Top 5 Asset Losers)