Nifty Hold Silence On US Market Record High closed & NK Missile Test.

Moneyites.comMARKET SUMMARY: – The Nifty50 Index little changed after sliding 9 points to close at 10361. The Indian market benchmark index Nifty failed to build on the gaining momentum on US Market record level closed after Nk Missile test. Domestic index nifty open flat and keep trading in sideways direction while remaining volatile for the day. The nifty50 index marks day high of 10392 and day low of 10345 respectively.

TECHNICAL COMMENTS: – On the daily chart, the Nifty50 index forms a small bearish candle. The Nifty index continues to consolidate near the resistance level. The domestic index trading volatile and slips 9 points in a day. On close, The Indian index Nifty holds above the SMA of 26 days and RSI stands at 57.

In short-term time frame, the Nifty index trading sideways. On close, the Nifty index holds below the support line and bearish crossover of EMA on hourly chart and RSI stands at 46.00 level

As mentioned in the previous report, Nifty50 too expected to close in line with the US market closing but Nk missile test subdued the fact.

GDP and PMI data to be announced in this week may expect to break the market silence and give further direction in the coming time.

The Nifty index holds crucial resistance at 10410 level and a breakout in the fashion above this may show more upside to the level of 10440-10480 in the coming time. Whereas, the nifty index hold immediate support at 10340 level below that some more downside to the level of 10300 can be seen in the short run.

The Bank Nifty index has another quite session remains sideways for the day. Trading in a tight range waits for further direction to come.

BOTTOM LINE: – Trading strategy For Nifty traders, Nifty expected to remain volatile till trading range bound.

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Nifty Absorb The losses & Stands Firmly, Targeting 10480-550 By Expiry.

MARKET SUMMARY: – Indian domestic market index Nifty added 10 points and closed in green at 10399 while traded choppy in the day trading session. The Nifty index open gap down 28 points at 10361 and slips further to marks day low of 10340 on account of unchanged India Rating by S&P and weak global cues. The Nifty50 rebound and bounces from the low in the second half and marks day high of 10407 near the resistance level of 10410 mentioned in the previous day report.

TECHNICAL COMMENTS: – On the Daily Chart, the Nifty index forms a bullish candle and closed near the day high. RSI at 62 and holding above the SMA of 26 days may show some more upside from here in the short run.

The Nifty50 index not only absorbs the losses in the day trading session from unchanged India rating by S&P but also closed in green by keeping the winning streak continues. The way it keeps trending and holding the gains, Some positive trigger from the domestic or global market it has more than a fair chance to marks a new high before the expiry.

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On short-term time frame, the Nifty50 index trending upside with volatility. On close, the Nifty index holds above the SMA of 9 days and RSI stands at 62. On an immediate basis, the Nifty50 has resistance level 10410 level above that further upside to the level of 10440-480 can be witnessed. On the contrary, Nifty has immediate support at 10365 level below that some more correction to the level of 10340-10310 can be seen.

BOTTOM LINE: – Trading strategy For Nifty tradersNifty trending upside so buy dips and sell on high as profit booking can’t be ruled out.

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Share Market :-Nifty Weekly Move Update

MARKET SUMMARY: – Indian Benchmark index nifty keeps on gaining on Friday trading session and closed at 10389 with the gain of 40 points. The Nifty index open gap up 18 points at 10366 and marks day high of 10404 dots near the level mentioned in the previous report. During the day trade, the Nifty index keeps on building the gaining momentum and broke and hold above the resistance level of 10380 with positive biases. On WoW basis, the Nifty index remains quite and added 106 points, while marking weekly low and high of 10261 and 10404 respectively.

TECHNICAL COMMENT: – On the daily chart, the Nifty index forms a bullish candle and keeps the gaining momentum alive. The Nifty index trading sideways with positive biases. The domestic index holds crucial support at 10300. RSI stands at 61, and closing above the SMA of 7 and 21 days on short term time frame may sign some more upside to retest the resistance level on the higher side.

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The Nifty index hold immediate resistance at 10410 and above that 10440-10470 can be retested on the higher side. Whereas below the support level of 10360 some more downside to the level of 10330-10300 can be witnesses in the coming time.

On the daily chart, the banking index forms a Doji pattern and keeps on a trading range bound for the whole week. The bank nifty index trading sideways with positive biases and gain small on WoW basis. The banking index has immediate resistance at 25950 above which some more upside to the level of 26100 and 26300 can be seen on the upside. Whereas below the support level of 25600 some weakness can be witnessed to the level of 25500-25400 in the short run.

BOTTOM LINE: – a Trading strategy for Nifty traders, the Nifty index hold crucial support at 10300 and 25600 for Bank Nifty index. So keep on buying dips till holding above this level.

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Nifty Inch Up In A Sideways Market.

MARKET SUMMARY: – Indian domestic market index Nifty inch up 15 points and closed in green at 10342. The Nifty index open gap up 24 points at 10350 and marks day high of 10368. The index retreats from the early gain and made the day low of 10310. The Nifty index then bounces back from the support level of 10310 and remains sideways for the whole trading session.

TECHNICAL COMMENTS: – On the daily chart, the Nifty index continues to consolidate near the resistance level. The domestic index keeps on trading in a narrow range and added 15 points in a day. On close, The Indian index Nifty holds above the SMA of 21 days and RSI stands at 63.

In short-term time frame, the Nifty index keeps on the gaining momentum but remains sideways. The Nifty index holds crucial resistance at 10385 level and a breakout in the fashion above this may show more upside to the level of 10405-10425-10450 in the coming time. Whereas, the nifty index hold immediate support at 10310 level below that some more downside to the level of 10265-10230 can be seen in the short run.

The Bank Nifty index little change after added 9 points in a day and closed in green at 25766. The banking index trading in a tight range of 25665-25925 and either side breakout is waiting.

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BOTTOM LINE: – Trading strategy For Nifty traders, Nifty trending upside in a narrow range. Go for fresh long positions only after a strong positive trigger.

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Share Market:- Buy Dips Till Nifty Holding 10230 Level.

MARKET SUMMARY: – On Tuesday trading, Indian domestic index Nifty open on a positive note. The index open gap up to 31 points at 10329 and keeps on building the momentum, marks day high of 10358. It is in the second half the index failed to hold the initial gain and shown some profit booking and made day low of 10315. However, the Nifty index managed to hold the morning gain and closed at 10326 with the gain of 28 points. Market breadth remains positive and DrReddy the top gainer for the Nifty index added 5.40 % in a day.

TECHNICAL COMMENTS: – On the daily chart, the Nifty index forms a Doji.  The nifty index added 28 points on account of gap up opening and closed near the opening level by holding the morning gains for the day with positive biases. At the close, The Indian index Nifty holds above the SMA of 21 days and RSI stands at 56.

During Intraday session, the Nifty index breaches the level of 10340 but not in a convincing manner and slide down on account of profit booking. In short-term time frame, the Nifty index keeps on the gaining momentum and hold immediate support at 10310. The market holds immediate resistance at 10360 level and holding above this level, The Nifty index may retest the higher level of 10380-10410-10440 on the higher side. Whereas below the level of 10310 in a convincing manner some weakness to the level of 10260-10230 can be witnessed in the short run.

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BOTTOM LINE: –Trading strategy For Nifty tradersNifty trending upside in a narrow range. So buy dips till nifty holding above the support levels.

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Nifty Remains Positive, Forms Doji On Chart.

MARKET SUMMARY: – Indian Benchmark Index Nifty remains quite for the first trading session of the week. The nifty index added 15 points in a day and closed at 10298. India’s domestic index Nifty shown small gap up opening and remains sideways for the day with the positive biases. Market breadth remains positive for the day, While GAIL is the top gainer for the Nifty index by adding 4% for the day.

TECHNICAL COMMENTS: – On the daily Chart, the index forms a Doji Candle signs neutral for now. The index remains sideways with positive biases for the day. The Nifty index price holds above the SMA of 26 days, RSI stands at 54 Whereas MACD is trading below the signal line.
In short-term time frame, the nifty index price trending positive and closed above the SMA of 7 and 21 days. The index marks twice the day high of 10309 but retreat from it and closed at 10298. In near term the Nifty index facing resistance near 10340 level, a breakout in fashion may shift in market sentiments and above this level, Nifty may retest the levels of 10375/ 10415/ 10445 on the higher side.

On Flipside, the Nifty index below the support level of 10260 can retest the downside level of 10230-10180 in the short run.

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BOTTOM LINE: – Trading strategy For Nifty traders, buying on dips if Nifty sustains above 10230 level and add on the position above 10340 level.

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Nifty Pull Back losses, Will You Buy It?

MARKET SUMMARY: – On Friday trading, Indian benchmark Nifty index on moody’s upgrade rating on India, opens gap positive 100+ points at 10324 and marks intraday high of 10343. The Nifty index failed to capitalize on the early gains and made intraday low of 10268. The Nifty index added 68 points in the day trading and closed at 10283. On WoW basis nifty saw heavy losses and mark 10094 as its weekly low, but finally closed in red with the small losses of 39 points.

TECHNICAL COMMENT: – On the daily chart, the Nifty index opens gap up but retreats from its early gains, forms bearish candle for the day. The index broke out of its declining trend in fashion and holds above the resistance line. On close, RSI stands at 53 and the Nifty index price above the SMA of 5 and 21 days.

For buying momentum to continue, the Nifty index has crucial support level at 10230. It has immediate resistance at 10340 levels above that 10375-10405-10440 can be tested on the higher side. Whereas below the level of 10230 some downside to the level of 10185-10130 can be witnessed

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BOTTOM LINE: – For the Nifty traders, the Nifty index may retest 10340 for it buying confirmation in the short time.

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Nifty Reclaims 10200, Recovery Led By Reliance, Infosys and SBI.

MARKET SUMMARY: – On Thursday trading, Indian benchmark nifty fifty index opens gap up 35 points at 10152 and thereafter keeps on the gaining momentum for the whole day. The Nifty fifty index marks the day high of 10232 and closed at 10214 with the gain of 96 points in intraday trade. The Nifty index recovery is led by large-cap stocks Reliance, Infosys, and SBI in today’s trading session.

TECHNICAL COMMENTS: – On the daily Chart, The index stops the losing streak by holding back support from the 50 days SMA.  The Nifty index closed on a positive note and closed near the day high. RSI stands at 49 level and MACD is trading below the signal line.

In short-term time frame, the nifty index broke and hold above the declining structural resistance line. The RSI stands at 57 and MACD is trading above the signal line and ADX stands at 30.34 level. On immediate basis 10250 at 50 days SMA may act as an important resistance level and a positive closing above this level may test 10290-10320 on the upside. Whereas the Nifty has immediate support at 10180 level and below this further downside to the level of 10140-10100 can be retested.Moneyites.com

BOTTOM LINE: – For the Nifty traders, the Nifty tradinghttp://moneyites.com/ at 10215 level. A buying on the dips with a stop loss below 10180 can be a good strategy for intraday trade and above 10250 some more position can be added.  Whereas below 10180 level in fashion some more weakness can be witnessed.

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Bears keeps On Ruling, Nifty Fell 68 Points to 10118.

MARKET SUMMARY: – On Wednesday trade, the nifty index starts the day with 15 points down to 10171 and there on keeps sliding to 10094 to marks the intraday low. Indian benchmark index Nifty fell 68 points on its third straight day of the week and closed at 10118. Metals sectors contribute max in dragging the index down.

TECHNICAL COMMENTS: – On the daily chart, the nifty index forms back to back bearish candle and keeps on trending downside. The market fell third straight day of the week and signs further weakness in the coming time. The index price falling is supported by the increased volume and open interest and closed below an important SMA of 50 days in today’s trading session. RSI at 41 and MACD is trading below the signal line may further support the immediate downtrend in the coming time.

The Nifty index has an important support level at 10085 below that, selloff can continue to the level of 10050-10020-9990 on the downside. Whereas a positive holding above the level of 10145, the Nifty index may trend up to 10180-10215 on the higher side.

The current correction rally in the market is somehow not joined by the bank nifty, else the damages can be much higher in comparison to now.

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BOTTOM LINE: – For the Nifty traders, Market trending downside and a breach of the immediate support level of 10185 in fashion, may trigger a further selloff in the coming time.

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Higher WPI Data Aid In Dragging The Market Down.

MARKET SUMMARY: –On Tuesday trading, the Nifty index fell 38 points down to 10186.00. Indian benchmark index nifty opens flat and traded with negative biases for the day. Selling pressure on higher level pushes the nifty down to breach the immediate support level of 10200 and below that it kissed the first support level of 10180 for the day as mentioned in the previous day report.

TECHNICAL COMMENTS: –On the daily chart, the nifty index continues its losing streak for the second consecutive day of the week. The Nifty index forms a bearish candle and closed near the day with weakness. The index price closed below the short-term moving average of 26 days SMA. RSI at 45 and MACD is trading below the signal line may further support the immediate downtrend in the coming time.

WPI data for October month at six month high. Higher crude oil prices and unimpressive Q2 number from the corporates is some of the reason pushing the market down in the short term. A higher inflation data can also get in the way of reducing interest rate in the upcoming monetary policies.

In shorter time frame, the index price trending downside with negative biases. A breach of immediate support level of 10180 may see a correction to the level of 10160-10120-10080 in the downside. Whereas the nifty index has immediate resistance at 10225-10260-10300 on the upside.

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BOTTOM LINE: – For the Nifty traders, Market may ahead for a lackluster trading session. The market tone remains negative until market holding below 10400 level.

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