Please Share:: 
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 markets opened the new week on a euphoric note with a large gap higher and above the 5400 mark. However profit taking soon picked up as the Asian peers were trading on a softer note and also helped by the February IIP data, Nifty gave up most of its gains to settle down in a narrow trading range in the second half. The day’s strength was supported by strong breadth and good turnover. The index is trading above its 21 and 50 hourly EMAs that will offer good support at 5320. Momentum oscillators on the daily and hourly charts have turned bullish suggesting an overall bullish outlook. Since the week is going to be loaded with market moving events, traders will have to be on their toes to match up to the volatility. We continue to maintain our bullish bias with stop-loss trailed to 5230 for targets of 5455 and 5550. For the intermediate term, 5163 (200 DMA) becomes the pivot for the bulls.
Sectoral indices trend was clearly in favour of high beta. The top gainers were Cap Goods (+2.56%), Realty (+1.90%) and Oil & Gas (+1.24%) indexes, whereas the underperformers were the defensive IT (-1.06%), Healthcare (-0.15%) and FMCG (+0.10%). Among the broader markets the Mid-cap index outperformed with gains of 1.06%, followed by Small-cap index gaining 0.70%.
Bullish Setups: LT, CNXBANK, SHRS, HNDL, RIL, COAL
Bearish Setups: ADE, BPCL, MM
No comments:
Post a Comment