Pre-Budget 2021 Technical Outlook: Axis Securities
A financial trader points to an index curve on his screen. (Photographer: Antoine Antoniol/Bloomberg)

Pre-Budget 2021 Technical Outlook: Axis Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Axis Securities Report

Nifty50 -

Nifty has closed at all time high indicating strong and sustained up trend across all the time frames.

Though our bias still remains positive, we observed some early signs of profit booking in this overstretched rally, hence traders are advised to wait and watch for short term corrections to create fresh longs.

As the Union Budget is near, we can expect good volatility into various stocks which can trigger violent moves on either sides.

Banks -

Bank index has closed at all time high indicating strong and sustained up trend across all the time frames.

Auto -

Auto sector has been one of the best performers and still continues to outperform most of the other sectors.

Click on the attachment to read the full report:

Axis Securities Pre-Budget-Technical-Outlook.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.