{"id":6322,"date":"2020-06-25T02:55:03","date_gmt":"2020-06-25T02:55:03","guid":{"rendered":"https:\/\/financeintellect.com\/home-page\/home\/?p=6322"},"modified":"2020-06-25T02:58:26","modified_gmt":"2020-06-25T02:58:26","slug":"markets-to-witness-a-near-term-reversal-reliance-securities","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/markets-to-witness-a-near-term-reversal-reliance-securities\/","title":{"rendered":"Markets to witness a near-term reversal: Reliance Securities"},"content":{"rendered":"

Mr. Arun Kumar S,\u00a0Market Strategist,\u00a0Reliance Securities Ltd expects a near term reversal and bearish sentiments in the markets today.<\/strong><\/p>\n

EQUITIES<\/p>\n

\u2022 NIFTY(10305) formed \u201cBearish Engulfing\u201d pattern which indicates a reversal. Expect the index and most heavy weights to react over the next few days.
\n\u2022 Key support zone for the index has been shifted to 10270 – 10050 – 9890, while it could face headwinds near 10425 – 10390.
\n\u2022 BANKNIFTY (21427) also formed a \u201cBearish Engulfing\u201c pattern. This index witnessed the most selling and could react strongly on the downside.
\n\u2022 Most sector indices on NSE have formed \u201cBearish Engulfing\u201d pattern. A negative close today will confirm further fall.
\n\u2022 The supports for this index falls around 20730 – 20280 – 20200. The near-term resistance zone has been shifted to 21850 – 21950.
\n\u2022 The market breadth turned negative after 5 positive days on the NSE cash segment.
\n\u2022 Weak hands took aggressive long positions yesterday. They are bound to stopped out – this may lead to some panic selling.
\n\u2022 FIIs were net buyers for the 5th straight day, while the DIIs sold net on the equity cash segment.<\/p>\n

CURRENCY<\/p>\n

\u2022 Dollar Index (97.275) moved up sharply and formed a \u201cBullish Engulfing\u201d pattern due to which it may attempt to test 97.50 – 97.73.
\n\u2022 USDINR (75.7213) could consolidate briefly and then extend its appreciation to 75.45 – 75.25.<\/p>\n

BONDS<\/p>\n

\u2022 US Govt. 10 yr yields (0.6675) yields extends its non-trending phase on near-term.
\n\u2022 Govt of India 10 yr yields (5.918) yields on the way to test 5.95.<\/p>\n

COMMODITIES<\/p>\n

\u2022 Crude futures – displays signs of correction.<\/p>\n

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 <\/p>\n

Also read:\u00a0COVID impact: Changes and opportunities expected in India\u2019s Capital Market industry<\/a><\/p>\n

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Mr. Arun Kumar S,\u00a0Market Strategist,\u00a0Reliance Securities Ltd expects a near term reversal and bearish sentiments in the markets today. EQUITIES \u2022 NIFTY(10305) formed \u201cBearish Engulfing\u201d pattern which indicates a reversal. Expect the index and most heavy weights to react over the next few days. \u2022 Key support zone for the index has been shifted to […]<\/p>\n","protected":false},"author":3,"featured_media":6323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[1,5],"tags":[37,4216,4249,36,4217],"class_list":["post-6322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","category-markets","tag-bse","tag-covid","tag-dollar-index","tag-nse","tag-reliance-securities"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t