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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Indian equity benchmark drooped for the seventh consecutive session in a row ending with a day’s loss of 0.6%. The day began with a gap down opening breaching the 4900 level and slipping down to the bullish gap area between 4861-4828 formed on the 7th October and made an intraday low of 4838 partially closing the gap. Afternoon session witnessed a gradual recovery which took steam in the final hour to close the opening gap and reclaim 4900. In the process a ‘hammer’ candlestick pattern has formed indicating that the market has hammered out a temporary bottom. Market internals indicate a spurt in trading volumes and a weak market breadth indicative of the midcap and small cap price damage. For the coming week which is going to be volatile on the back of November series derivatives settlement, we expect Nifty to retrace the seven session rout with a recovery towards the 5000 mark where sellers are likely to get active.
Among the key sectoral performances, Realty index witnessed another cut of 1.59% followed by FMCG (-1.39%) and Metals (-1.30%) indices. The only outperformers with a positive close were Healthcare (0.19%) and Oil & gas indices. Broader market Mid-cap and Small-cap indices witnessed a sharp cut of 1.03% and 1.90% respectively.
Bullish Setups: HUVR, BHARTI, BHEL, TTMT
Bearish Setups: RBXY, LPC, INFY
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