18 Jul 2018 | 12:56 AM
Research Report

Equity Research Report: Market Explorer

The ongoing trend is likely to continue in the market as participants are optimistic about the Modi government’s reforms pace. Global cues also providing positive signal and investment by FIIs are increasing. Going ahead, the ongoing second-quarter earnings season and key macroeconomic data in India will set the tone on the domestic bourses. Movement of rupee against the dollar and crude oil price will also influence near term trend.
05 Nov 2014 | 03:28 PM

Technical Outlook for CNX Nifty 

After a pause in the September month, the benchmark index, CNX Nifty, resumed its overall uptrend and made a new record high at 8330.75 in the month of October. Strong recovery in the global markets alongside with positive cues from the earning front helped index to gain more than four percent on monthly basis.

Keeping in mind the overall market conditions on both domestic & global front, we believe this positive bias would extend further in November month. As per the Fibonacci extension (projection tool in technical analysis) placed on monthly chart, the Nifty has cross the major hurdle around 8200 and now it has potential to scale to 8700. So, one should uphold buy on dips approach but maintain extra caution in stock selection.


Rollover Synopsis

Sector wise Power, Oil and gas and banks have seen  consistent long build up and good delivery based buying. Banks have seen huge long build up since last four trading sessions. Oil n gas has been showing good delivery buying especially in scrip like Reliance at a weighted average of around 952. In power sector NTPC, TATA Power has seen good delivery based accumulation.