Arihant Capital Markets Ltd

Published on 19/04/2021 9:20:54 AM

DAILY MARKET UPDATE REPORT 19-04-2021

Nifty, opened flat note and trade range bound throughout the day. On the daily chart we are observing a price has tested “Downward gap area” which was around 14680-14700. Now on the weekly chart we are observing “Doji” candle & on daily chart we are observing series of “Narrow range body formation” which suggests that the consolidation will remain continue. In coming trading session if Nifty holds 14580 and for first hour trades above 14650 level then it may test 14750 – 14820 levels. On the flip side if breaches 14550 the next support is at 14450 – 14380 levels. 

At present prices are trading below the 50-day SMA (14836) and the daily trend has turned down. However, the current price action suggests that we may see rally near to 50-day SMA (14836).  Since the trend remains down rallies are likely to attract selling pressure.   Hence, one can adopt cautious approach toward the market.

SEBI Registration No.- INH000002764
Please refer disclaimer at http://arihantcapital.com/

Arihant Capital Markets Ltd

Published on 16/04/2021 9:14:23 AM

DAILY MARKET UPDATE REPORT 16-04-2021

Nifty, opened flat note and trade volatile throughout the day. On the daily chart we are observing “Doji” candle which suggests that the consolidation will remain continue. In coming trading session if Nifty holds 14420 and for first hour trades above 14650 level then it may test 14750 – 14820 levels. On the flip side if breaches 14380 the next support is at 14300 – 14250 levels. 

At present prices are trading below the 50-day SMA (14836) and the daily trend has turned down. However, the current price action suggests that we may see rally near to 50-day SMA (14836).  Since the trend remains down rallies are likely to attract selling pressure.   Hence, one can adopt cautious approach toward the market.

Tags: Daily

SEBI Registration No.- INH000002764
Please refer disclaimer at http://arihantcapital.com/
 

Arihant Capital Markets Ltd

Published on 15/04/2021 9:01:21 AM

DAILY MARKET UPDATE REPORT 15-04-2021

Nifty, opened higher traded with choppiness but witnessed buying in latter half of the session to close in green. On the daily chart we are observing an inside day which suggests that the prior low of 14248 is crucial support. In coming trading session if Nifty holds 14248 and for first hour trades above 14530 level then it may test 14 650 – 14720 levels. On the flip side if breaches 14248 the next support is at 14180 – 14100 levels.

At present prices are trading below the 50-day SMA (14836) and the daily trend has turned down. However, the current price action suggests that we may see rally near to 50-day SMA (14836). Since the trend remains down rallies are likely to attract selling pressure.   Hence, one can adopt cautious approach toward the market.

Tags: Daily

SEBI Registration No.- INH000002764
Please refer disclaimer at http://arihantcapital.com/