18 Jul 2018 | 1:02 AM
Research Report

Equity Research Report: Market Explorer - May 2015

Strong sell off pressure emerged in the second half of April and Nifty has seen a fall of more than 600 points in less than two weeks. The results so far declared by corporate India are mixed but still lacking pace to boost the market sentiment. Markets are likely to remain choppy for the next few weeks as it is still awaiting the next cues to move ahead. Markets are closely watching government actions on FII taxation and passage of crucial bills. Any disappointments on this front will slow down the pace of recovery in stock prices.
07 May 2015 | 02:30 PM

Technical Outlook for CNX Nifty 

  • The passing month was very volatile for equity markets as the benchmark index, Nifty, hovered in a range of roughly 700 points and shed more three and half percent on monthly basis.
  • It not only breached the lower band of the broadening formation but also crossed the crucial support zone of 200 EMA on the daily chart, which currently lies around 8190 spot level.
  • After two successive months of decline, we expect consolidation in Nifty with bias slightly on the negative side & major downside cushion around 7850. On the other hand, the prevailing negative bias would reverse if Nifty manages to close decisively above 8500 spot. Meanwhile, stocks would continue to move in both   directions in response to their quarterly results so participants are advised to uphold stock specific trading approach.
  • As the long term uptrend is intact in private banks, auto, pharma and FMCG,capital goods space, participants can gradually accumulate fundamentally strong counters from these pivots with medium to long term investment view.