LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Markets News

HDFC Securities expects more upside towards 14655 on Nifty

Nifty has bounced back smartly on Jan 19, however with lower volumes. This has raised hopes of continuation in the upmove. Sharply positive advance decline ratio also reinforces this feeling. However it would be interesting to watch as to whether Nifty will cross 14653 and make a new high.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
HDFC Securities expects more upside towards 14655 on Nifty
Nifty witnessed an excellent upside bounce on Tuesday and closed the day higher by 239 points. Nifty opened on an upside gap of 90 points, slipped into a minor intraday weakness in the early part of the session: Reuters
Reported By: ZeeBiz WebTeam
Written By: Rahul Kamdar
Edited By: Harish Dugh
Updated: Wed, Jan 20, 2021
10:31 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Market outlook with Anil Singhvi: What should investors do now? Market Guru reveals important levels Market outlook with Anil Singhvi: What should investors do now? Market Guru reveals important levels
HDFC Securities says Traders should sell Nifty on rise around 14450-14500 HDFC Securities says Traders should sell Nifty on rise around 14450-14500
Vaccine cheer: Pharma stocks hit new life-time highs, RPG Lifesciences, Panacea, Cadila surge the most Vaccine cheer: Pharma stocks hit new life-time highs, RPG Lifesciences, Panacea, Cadila surge the most
HDFC Securities says Nifty now placed at crucial support of 14200-14150 HDFC Securities says Nifty now placed at crucial support of 14200-14150
In chat with Anil Singhvi, Mehraboon Irani says 2nd Covid-19 wave could really affect markets In chat with Anil Singhvi, Mehraboon Irani says 2nd Covid-19 wave could really affect markets

HDFC Securities says that Indian equity benchmark indices bounced back strongly on Jan 19 after two days of losses. At close, the Nifty was up 239.90 points or 1.68% at 14,521.20.
 
Volumes on the NSE were the lowest since Jan 01. Among sectors, Realty, Metals, PSU Banks, Media, Bank, Auto and Pharma rose the most.
 

See Zee Business Live TV Streaming Below:

Asian shares ascended on Tuesday as investors bet China's economic strength would help support growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. European stocks inch higher on Tuesday, sustained by hopes that an economic recovery following the coronavirus pandemic is not far off.
 
Nifty has bounced back smartly on Jan 19, however with lower volumes. This has raised hopes of continuation in the upmove. Sharply positive advance decline ratio also reinforces this feeling. However it would be interesting to watch as to whether Nifty will cross 14653 and make a new high.
 
After showing sharp weakness in the previous couple of sessions, Nifty witnessed an excellent upside bounce on Tuesday and closed the day higher by 239 points. Nifty opened on an upside gap of 90 points, slipped into a minor intraday weakness in the early part of the session. A sustainable upmove has emerged from the early-mid part and that lasted till the end of the session. The opening upside gap remains unfilled and the Nifty closed near the high.
 
The downside breakout of the immediate support like 10 day EMA at 14350 has turned out to be a false downside breakout and the market witnessed a sharp upside bounce in the subsequent session. The Monday's swing low of 14222 could be considered as a new higher bottom of the ongoing bullish pattern-higher highs and higher lows of the daily chart.
 
The symmetrical pattern of 16-18 sessions of consumption (by the way of upmove or range movement) before one day drop is still on. If HDFC Securities consider the previous two sessions of weakness to this pattern, then HDFC Securities have a possibility of more upside in the near term.
 
Conclusion: The sharp comeback of bulls on Tuesday seems to have changed the sentiment of the market and the short term bearish indications have been negated. HDFC Securities expects more upside towards 14655 and higher in the next couple of sessions. Immediate support is placed at 14450.

 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
NiftyStock Markets
RELATED NEWS
Market outlook with Anil Singhvi: What should investors do now? Market Guru reveals important levels Market outlook with Anil Singhvi: What should investors do now? Market Guru reveals important levels
HDFC Securities says Traders should sell Nifty on rise around 14450-14500 HDFC Securities says Traders should sell Nifty on rise around 14450-14500
Vaccine cheer: Pharma stocks hit new life-time highs, RPG Lifesciences, Panacea, Cadila surge the most Vaccine cheer: Pharma stocks hit new life-time highs, RPG Lifesciences, Panacea, Cadila surge the most
HDFC Securities says Nifty now placed at crucial support of 14200-14150 HDFC Securities says Nifty now placed at crucial support of 14200-14150
In chat with Anil Singhvi, Mehraboon Irani says 2nd Covid-19 wave could really affect markets In chat with Anil Singhvi, Mehraboon Irani says 2nd Covid-19 wave could really affect markets

LATEST NEWS

Maharashtra lockdown e-pass: Here's how to apply for e-pass online and offline, check link, and other details now

Marg Books: A Software for New Generation

7th Pay Commission: Central government employees' salary, allowance update—what will change from July

KVS Admission List 2021-22: Provisional selection list for class 1 to be released today POSTPONED, revised date to be notified on kvsonlineadmission. kvs.gov.in soon - check details here

CBSE Class 10 Board Exam 2021 Result: BIG NEWS! Students DON'T MISS this LATEST UPDATE - all details here

Are you a PM-Kisan Samman Nidhi Yojana beneficiary? Did you get your Rs 2000 installment?

Stocks in Focus on April 23: Indus Tower, Rallis, Lupin, Gland Pharma to Banks; here are the 5 Newsmakers of the Day

UltraTech Cement share price: Sharekhan maintains Buy rating with price target of Rs 8000

Anil Singhvi picks Jubilant Industries as his 'SIP STOCK' today, know the reason WHY

CBSE Board Exam 2021 Latest News Updates: Demands for RT-PCR tests for students when 12th class practical exam restarts - check all details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved