Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Technical Wrap - June 15, 2022 - HDFC Securities

Posted On: 2022-06-15 21:13:42 (Time Zone: IST)


Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

After showing consolidation movement on Tuesday, Nifty continued with choppy movement on Wednesday and closed the day lower by 39 points. After opening with a positive note, the market has shifted into a narrow range movement for the entire session. The attempt of upside bounce from the lows has failed to sustain and the market showed minor weakness from the highs towards the end.

A small negative candle was formed on the daily chart with minor upper shadow. Technically, this pattern indicate a lackluster type movement in the market. Though, Nifty placed at the crucial support of 15600-15700 levels (previous swing lows), the market is struggling to show any meaningful upside bounce from the support. The current chart pattern indicate possibility of one more leg of downside before showing a sharp upside bounce.

Nifty as per long term charts like monthly has placed at the crucial lower support of 20m EMA and previous swing lows around 15600-15700 levels and the opening downside gap on the weekly chart is expected to be filled soon, as per its pattern like filling the gaps immediately after the opening in the past.

Conclusion: The short term trend of Nifty continues to be weak with range bound action. Such lack of strength at the important support signal chances of false downside breakout or one leg of downside before showing sharp upside bounce from the lows of around 15500 levels in the short term. Immediate resistance is placed at 15780.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Daily Markets Wrap - July 1, 2022 - HDFC Securities

Daily Market Commentary - July 1, 2022 - Bonanza Portfolio

Post Market views - July 1, 2022 - Reliance Securities

Technical Wrap - July 1, 2022 - HDFC Securities

Daily Markets Wrap - June 30, 2022 - HDFC Securities

Post Market views - June 30, 2022 - Reliance Securities

Technical Wrap - June 30, 2022 - HDFC Securities

Rupee Wrap - June 30, 2022 - Reliance Securites

Daily Market Commentary - June 29, 2022 - Bonanza Portfolio

Daily Markets Wrap - June 29, 2022 - HDFC Securities

Post Market views - June 29, 2022 - Reliance Securities

Technical Wrap - June 29, 2022 - HDFC Securities

Post Market views - June 28, 2022 - Reliance Securities

Daily Markets Wrap - June 28, 2022 - HDFC Securities

Technical Wrap - June 28, 2022 - HDFC Securities

Daily Markets Wrap - June 27, 2022 - HDFC Securities

Daily Market Commentary - June 27, 2022 - Bonanza Portfolio

Post Market views - June 27, 2022 - Reliance Securities

Technical Wrap - June 27, 2022 - HDFC Securities

Daily Markets Wrap - June 24, 2022 - HDFC Securities

Post Market views - June 24, 2022 - Reliance Securities

Daily Market Commentary - June 24, 2022 - Bonanza Portfolio

Rupee Wrap - June 24, 2022 - Reliance Securities

Technical Wrap - June 24, 2022 - HDFC Securities

Daily Markets Wrap - June 21, 2022 - HDFC Securities

Daily Market Commentary - June 21, 2022 - Bonanza Portfolio

Technical Wrap - June 21, 2022 - HDFC Securities

Daily Markets Wrap - June 20, 2022 - HDFC Securities

Post Market views - June 20, 2022 - Reliance Securities

Daily Market Commentary - June 20, 2022 - Bonanza Portfolio

Technical Wrap - June 20, 2022 - HDFC Securities

Rupee Wrap - June 20, 2022 - Reliance Securities

Weekly Report - June 18, 2022 - Reliance Securities

Daily Markets Wrap - June 17, 2022 - HDFC Securities

Post Market views - June 17, 2022 - Reliance Securities

Technical Wrap - June 17, 2022 - HDFC Securities

Daily Markets Wrap - June 16, 2022 - HDFC Securities

Post Market Views - June 16, 2022 - Reliance Securities

Daily Market Commentary - June 16, 2022 - Bonanza Portfolio

Rupee Wrap - June 16, 2022 - Reliance Securities

Technical Wrap - June 16, 2022 - HDFC Securities

Daily Markets Wrap - June 15, 2022 - HDFC Securities

Post Market Views - June 15, 2022 - Reliance Securities

Rupee Wrap - June 15, 2022 - Reliance Securities

Daily Markets Wrap - June 13, 2022 - HDFC Securities

Post Market views - June 13, 2022 - Reliance Securities

Daily Market Commentary - June 13, 2022 - Bonanza Portfolio

Rupee Wrap - June 13, 2022 - Reliance Securities

Technical Wrap - June 13, 2022 - HDFC Securities

Weekly Report - June 11, 2022 - Mr. Mitul Shah - Head of Research at Reliance securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020