Analyzing India

Milan Vaishnav
About the author: , CMT, MSTA is an Independent Technical Research Analyst at his Research Firm, Gemstone Equity Research & Advisory Services in Vadodara, India. With his experience in the Indian Capital Markets of over 15 years, he has been delivering premium India-focused Independent Technical Research and presently contributes on a daily basis to ET Markets and The Economic Times of India. He also authors India-focused "Daily / Weekly Market Outlook" - A Daily / Weekly Newsletter, currently in its 15th year of publication. Learn More

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Analyzing India

Week Ahead: Mild Pullbacks Likely; NIFTY Continues To Remain Vulnerable To Sell-Offs At Higher Level

by Milan Vaishnav

After meeting resistance around 11800-11840 for seven weeks, the markets loosened up a bit over the past week, ending with losses. NIFTY spent the previous couple of weeks in a defined range as it remained indecisive and did not make any convincing directional call. This week, the NIFTY witnessed some increased corrective pressure from higher levels, ending with a net loss of 258.65 points (-2.19%) on a week-to-week basis. The NIFTY has ended below the 20-period MA on the weekly charts. The India Volatility Index (INDIA VIX) is presently Read More 

Analyzing India

Week Ahead: Markets Have A Difficult Terrain To Negotiate; Will Continue To Resist At Higher Levels

by Milan Vaishnav

The markets were range-bound over the course of the week, but remained volatile on anticipated lines while digesting the Union Budget on Friday. As expected, the event failed to infuse any cheer in the markets, with the NIFTY remaining within a defined range and oscillating in a limited band. The entire week was comprised of just a 184-point band within which the index moved. After heading nowhere and paring most of the gains on the last day of the week, the NIFTY ended with a negligible increase of 22.30 points (+0.19%) on a weekly basis. Read More 

Analyzing India

Investors' Expectations: Knee-Jerk Reactions And Volatile Oscillations Aside, Budget May Remain A Non-Event

by Milan Vaishnav

After claiming an absolute majority again in the 2019 General Election, the Narendra Modi Government is slated to come up with their first budget of the second term on Friday, the 4th of July, 2019. Many expectations have been building up around this event, which has always been one of the most important domestic events in a given year. All industries represent different sectors, and people at large from the various strata of society expects something or the other from the Government in every budget. Investors are no different. At this point, it would be interesting to take a look at what Read More 

Analyzing India

Bullish Setup On This Stock

by Milan Vaishnav

DREDGING CORP. OF INDIA LTD -- DREDGECORP.IN Following a prolonged down move and some subsequent bottom-finding, DREDGECORP is set to confirm its reversal. The stock is currently breaking out of a falling trend line resistance, which begins from 479 and joins the subsequent lower tops. In the process, the stock has also formed a complex inverted head-and-shoulder formation, which is bullish. The RS line, when compared against the broader markets, has also reversed its trajectory and has penetrated its 50-DMA. With the price ending outside the upper Bollinger band, the possibility of the Read More 

Analyzing India

Week Ahead: Larger Technical Setup Remains Challenging; Reaction To Budget May Increase Volatility

by Milan Vaishnav

In the previous week, the markets were expected to remain mostly volatile and to remain under range-bound oscillation without making any significant headway. In line with this analysis, the NIFTY headed nowhere, had a lackluster week and ended with mild gains on a weekly note. While the NIFTY continued to resist its important double top resistance in the zones of 11840-11880, the index finished the week with gains of 64.75 points (+0.55%) on a week-to-week basis. We have a domestic event (the Union Budget) to face, which is slated to come Read More 

Analyzing India

Week Ahead: Mild Pullbacks Likely But Broader Technical Setup Remains Weak; Volatility May Increase

by Milan Vaishnav

In our previous weekly note, we had mentioned the possibility of the markets not giving any runaway moves on the higher side. The week that went by remained on expected lines as the headline index resisted to one of its significant double top resistance areas, which lies in the 11840-11880 zones. In line with this analysis, the markets formed the weekly high around this point and then went into some corrective move. The NIFTY did not make any vital headway on either side and ended with a modest loss of 99.20 points (-0.84%) on a weekly basis. Read More 

Analyzing India

Week Ahead: No Runaway Surge Expected; Markets May Continue Exhibiting Negative Bias

by Milan Vaishnav

In yet another wide-ranging week, the NIFTY oscillated in a 400-point range, ending the week with a modest cut. In our previous weekly note, we had raised concerns about the NIFTY failing to confirm the attempted breakout. In line with the our analysis, the index did not show any intention to break above the critical resistance levels. After moving in a broad range, the NIFTY ended with a minor loss of 47.35 points (-0.40%) on a weekly note. The broader technical set-up does not paint a pretty picture for the markets going forward Read More 

Analyzing India

Week Ahead: With Breakout Not Getting Confirmed, Chasing Technical Pullbacks Should Be Avoided

by Milan Vaishnav

Throughout the previous week, the Indian equity markets remained less volatile than expected, but, at the same time, marked some important technical events. After trading in a 350-point range, the index hit its key resistance zones, retraced and ended the week with a modest loss. The RBI Credit Policy largely remained a non-event for the markets. The headline index NIFTY 50 ended with a net loss of 52.15 points (-0.44%) on a weekly note. The previous week also witnessed a few important technical events. The NIFTY marked its fresh incremental Read More 

Analyzing India

Week Ahead: Markets May Face Broader Technical Headwinds; Volatility Likely To Resurface

by Milan Vaishnav

In yet another fairly eventful week, the Indian equity markets continued to digest the general elections fully, ending with a violent reaction to the portfolio allocation of the new set of cabinet ministers. After witnessing a 420-point trading range while marking incremental highs on a closing basis, the headline index NIFTY ended with net gains of 78.70 points (+0.66%) on the weekly note. The markets also ended the month while reacting to every possible event. The difference between the high and the low in the month of May was 932.85 Read More 

Analyzing India

Week Ahead: Markets Set To See Wider Moves; Some Volatility May Resurface Again

by Milan Vaishnav

The Indian equity markets finished one their most eventful weeks as they faced the general election results. Though the move remained much on expected lines, the timing got little awry as the market finished the bulk of its reaction by rising after the exit polls rather than waiting for the election results. The election results saw both NIFTY and the Sensex testing their own historically high levels, followed by a retracement on account of profit-taking. Following an extensively wide-ranging trading week, the headline index NIFTY finally settled with net gains of 436.95 Read More 

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