Stock Market Insights

Insights from Last Trading Session (23 January 2015)

Equity market extended its gain further on last trading session, however high volatile trading witnessed; indicating supply pressure. Market Breadth was neutral to negative, The current investment pattern by stronger hands indicates the NIFTY to trade between 8750 – 8950 till expiry, later it may resume its bullish trend

NIFTY : 0
Up by 0.85% on January 23, 2015
Share Market Today

List of Evidences

FII added long positions in Index futures in FEB Series and created short position in 8900 and 9100 further to this they have added short position in 8800 Put options.
Derivative fund flow analysis indicating the short term bullish trend, however the market to trade within the range of 8800 to 9100 till expiry
Market Breadth remain negative, banking under-performed, high volatile trade seen at higher trades indicating supply pressure.
DLF topped the volume list, meanwhile witnessed positive breakout.
M&M recovered from support zone where we see multiple bottoms, on last trading session it witnessed flag breakout along with high volume.
The evidence of bottom formation seen in TATAPOWER and Manage to give positive breakout; it is expected to be bullish as long as it trades above 80 levels. And it added open interest where we could see aggressive buyers and passive seller.
LT Trading Range is seen between 2480 – 2580. Any breakout on aforesaid level would form directional movement
LUPIN price chart witnessed bearish engulfing pattern; indicating temporary weakness.
ACC witnessed bearish engulfing pattern, tested its major resistance zone, hence temporary weakness is expected.
BAJAJ-AUTO recent price action broken its upward sloping trend line and recovered marginally; currently placed nearby its resistance zone.