Nifty Trading Strategy For Dec Month Expiry, US Tax Bill Passed

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MARKET SUMMARY: – On last trading session of the Week, Indian benchmark index Nifty 50 edge higher 0.50% to close at 10493.  The Nifty 50 index has started the day on a positive note after opening gap up at 10457 and slowly build on the early gain to hit the fresh all-time high of 10501.

On Weekly basis,  On Monday, the Nifty index traded highly volatile on the judgment day of exit poll result from Gujarat and HP state, but soon after a clear victory for BJP in both the state’s Market seems to be got stable and keeps trending upside in a narrow range.

The market added 163 points on a weekly basis to close in green at 10493, while mark weekly high and low of 10501 and 10074 respectively.

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TECHNICAL COMMENTS: – On the daily Chart, The Nifty index broke out of a declining trend channel pattern and forms a small bullish candle in the Friday trade. The main index keeps trending positive while showing some consolidation at the all-time high level.

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On close, The nifty 50 index holds above the short and medium term SMA of 20 and 50 days respectively and RSI stands at 63 level.

On shorter time frame, The Nifty 50 index trading in a narrow range and keeps on consolidation at the higher level. The main index marks an all-time high level with an unsupported volume.

The Nifty index trading well above the short and medium term average on hourly chart and RSI hold at 61 level.

The index has immediate support at 10460-10405 level on the downside, below that some sharp profit booking can be seen. On the contrary, a decisive breakout on the higher may trend nifty up to the target 10540-10600 in the short run.

The US Tax bill passed and signed by the US president, A positive trigger from this may heads nifty for the Fresh high in the coming time.

BOTTOM LINE:- Trading strategy for Nifty traders,  Buy bottoms till Nifty index holding 10400 level on a closing basis and fresh long position only above 10500 level on an intraday basis.

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Nifty Weekly Outlook, A Final Outcome From Guj Election Give A Decisive Move.

Moneyites.comMARKET SUMMARY: – On Friday trade,  the Indian benchmark index Nifty ended higher 0.79% to 10333. After taking cues of BJP win in Gujarat from the exit poll on Thursday, the Nifty 50 index open gap up and managed to close in green after holding the early morning gains.

On weekly basis, the main index swings between profit and losses and finally ended in green after adding 68 points to 10333. The Nifty index made weekly high and low of 10373 and 10141 respectively.

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Inflation rose to 8 months high in November at 4.8% and IIP number is lower to 2.2% in October month from 3.8 % in September.

TECHNICAL COMMENTS: – On the daily chart, the Nifty 50 price action forms a small bearish spinning top candle like pattern. The market waits, for now, to get clear confirmation from the outcome of Gujarat exit poll of  BJP wins.

The index price broke and hold above the declining trend channel and a decisive blew of 10410 level may head nifty to touch all-time record level in the short run.

In shorter time frame, The index price closed well above the short and medium term exponential moving average and RSI stands at 61 level.

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A failure to attempt in breaching the level may hold nifty back in the trading range. As a matter of arguments as the price in already factored in taking cues from the pre-election move, followed by a gap up opening on Friday after the outcome of the first phase of the exit poll.

BOTTOM LINE:-  Trading Strategy for Nifty traders, A decisive move above 10410 in Nifty may head for new highs in the short run.

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Nifty To See Upside If 10340 Is Breaches In Fashion.

Moneyites.comMARKET SUMMARY: – On Thursday trade, Indian benchmark index nifty 50 swings between profit and losses and finally closed in green after surging 0.58% to 10252. The main index opens up a gap and tumbled down to days worst level before climbs up to close near the day high.

The Nifty 50 index made day low and high of 10141 and 10276 respectively. The market approaching higher volatility as coming closer to exit poll result from Gujarat elections.

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US Federal Reserve as widely expected rose the interest rate by a quarter to 1.50% from 1.25%. As a reflection financial market around the globe is trading in red in the early morning trade with exception to US Markets finishes in green.

TECHNICAL COMMENTS: –  On the daily chart, the Nifty index forms a long bullish candle. The Nifty 50 index sharply recover from the losses and closes in green with the positive sentiments.

On short-term time frame, the Nifty index closed well above the short and medium term EMA and RSI stand at 57 level. Currently, Nifty hold immediate resistance at 10275 above that 10300-10340 can be tested on the higher side. Whereas below the support level of 10210 some weakness towards the level of 10170-10140 can be witnessed.

Traders and Investors get some cues from the result of the first phase of exit poll from HP and Gujarat.

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BOTTOM LINE: –  Trading Strategy for Nifty traders,  Nifty may approach higher volatility and has crucial resistance at 10340 level to test further upside.

 

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Pre-Election Rally?, Nifty Surged Close to 300 points In last 3 Trading Sessions.

Moneyites.comMARKET SUMMARY: – On first trading session of the week, Indian benchmark index Nifty shows third straight gains and surged 0.59% to 10326. The Nifty index opens gap up and keeps building on the gains from the previous week to close at the day high.

The market breadth remains positive, for every one share in decline two shares are advancing in Nifty 50 index. Auropharma surged 2.74% to 690.90 led the top gainer spot in Nifty 50.

IT top performing sector advances 1.35% to 11324.00.

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TECHNICAL COMMENTS: – On the daily chart, the Nifty 50 index forms a small bullish candle and marks third consecutive gain. The main index opens above 26 days SMA and after filing the gap builds on gaining the momentum throughout the day to close near the day high with positive sentiments.

A positive US market closing and mixed Asian market give a good start to the Indian market in the early morning trade.

On Shorter time frame, the Nifty 50 index closed above the short and medium term EMA but RSI stands at 74 level in the overbought region. As a contrarian view, the Nifty index closed on strong positive note and RSI above 7o level may retain strength to test further upside in the coming trading session.

The main index covers around 300 points in the last three trading session and now holds important resistance at 10360 level. A positive holding above this level may target the level of 10410  -10500 in the short run.Whereas Nifty index holds immediate support at 10300 below that some profit booking can be witnessed to the level of 10270-10245.

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BOTTOM LINE: –  Trading Strategy for Nifty traders, Nifty index to test 10410 if 10360 breach and hold in fashion.

 

 

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Weekly Wrap- Nifty Snap losses, Eyes on Gujarat Elections.

Moneyites.comMARKET SUMMARY: – On Last trading session of the week, Indian benchmark index nifty extend gains to close at 10265 after surging 0.97%. The Nifty 50 Index opens gap up and keeps on capitalizing on Thursday sharp recovery to close near the day high. The main index retreat losses of the week and close at the weekly high after adding over 140 points in the week.

TECHNICAL COMMENTS: – On the daily chart, the nifty 50 index forms long back to back bullish candle, After testing 100 days SMA. The Nifty 50 sharply recover the losses and closed near the weekly high with positive sentiments.On close, the Nifty index holds above the SMA of 50 days and RSI stands at 52 level.

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The main index showed pull back from the lower band of the Bollinger bands and now holds above the center line of it, sign further bull to run in the coming time.

Nifty traded off well from the weekly low to close in green ahead of Gujarat election. result to be out on 18th Dec.

In short-term time frame, the main index seems to consolidate at the higher level and RSI stands at above 70 level. The Nifty 50 index has immediate resistance at 10275 above that 10310/10330/10365 level can be tested on the higher side. On the contrary, the index holds immediate support at 10230 level below that 10200/10160 can be witnessed on the downside.

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BOTTOM LINE:- Trading strategy for Nifty traders,  A good time for options traders as a volatile move for the week is expected with an upside hurdle of 10410.

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Nifty May See Relief Rally around 10175-220 level, If level of 10k is Maintained.

MARKET SUMMARY: – On Wednesday trade, Indian benchmark index Nifty extend losses and close at 10044 after declining by -0.73%. The main index keeps sliding throughout the day and breaks below the 100 days SMA with no pullback efforts.

The Nifty index keeps continues the losing streak and shows further correction after the news of RBI policy of keeping its interest rate unchanged.

TECHNICAL COMMENTS: –On the daily chart, the benchmark index forms a long bearish candle and closes near the day low with the negative sentiments. Nifty Index closed below the 100 days SMA and RSI stand at 33 level.

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RBI keep the interest rate unchanged the second time in a row.

On the short-term time frame, Nifty index price closed near the day low and below the short and medium term Moving average on the hourly chart. RSI stands at 27 level but not in line with the price action, as a matter of divergence.

The index holds immediate resistance at 10105 and holding above this 10150 can be retested on the higher side, On the contrary below the support level of 10030, level of 10000 and below can be seen in the coming time.

BOTTOM LINE:- Trading Strategy for nifty traders, level of 10000 will be crucial to watch.

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Nifty Hold Support At 100 Days SMA Ahead Of RBI Policy.

MARKET SUMMARY: – On Tuesday trading, India benchmark index Nifty50 starts the day with weakness and slide further to day lower level at 10069. It is in the second half, the nifty50 index offset the morning losses and close at 10118 with the moderate losses of 9 points.

The market breadth for the Nifty index is negative, 2 stocks are trading negative for every 1 stocks positive. Nifty50 recovery led by banking major SBI and Reliance industry.

India volatility index (VIX) added  1.03% to close at 15.01

TECHNICAL COMMENTS: – On the daily chart, the Nifty index forms a doji, Signs market participants remain neutral ahead of the RBI policy scheduled to be announced tomorrow.

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The Nifty index holds back from the day low from taking support at 100 days SMA.

A higher inflation data and crude oil price may weigh on RBI to go with cautious mood and keep the interest rate unchanged for now.

The market tone is negative and volatile, holding crucial support at 10100 level on a closing basis. A weak closing below this may trigger further downside in the coming time.

On shorter time frame, the Nifty index holds above the EMA on hourly chart and RSI stands at 36 level.

The nifty index expected to trade volatile and holds immediate support at 10070 level below which further downside to the level 10040-10000 can be seen, Whereas above the resistance level of 10150 upside level of 10180-10225 can be retested in the coming time.

BOTTOM LINE: – Trading strategy For Nifty traders, Nifty expected to trade volatile and sell on high if unable to close above 10200 level.

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Nifty Trending In Negative Tone, Sell On High.

MARKET SUMMARY: – On first trading session of the week, the Nifty 50 Index little changed after adding 5 points to close at 10127.  The benchmark index nifty failed to build on the early gains soon corrects to the day lower level but market well traded off from the low level of the day to close in the green. The Nifty index traded volatile for the day and marks day high of 10179 and day low of 10095 respectively.

TECHNICAL COMMENTS: – On the daily chart, the Nifty50 index forms a bearish candle. The nifty50 index opens gap up but soon correct down to the day low taking resistance from the 50 days SMA on the charts.

The benchmark index holds support four times on the line at 10100 level and a weak closing below this may trigger further downside in the coming time.

In shorter time frame, the nifty fifty index trending in series of lower highs and lower lows. The price action may find the resistance at the upper structural line. On close, the index price closed below the EMA on hourly chart and  RSI stands at 26.00 level.

The main index hold immediate resistance at 10140 level above that 10165-10200 can be retested on the higher side whereas below the support level of 10090 some more correction to the level 10060-10030 can be witnessed in the coming time

BOTTOM LINE: – Trading strategy For Nifty traders, Nifty having a negative tone sell on resistance level to book intraday profit.

 

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Share Market: – Nifty Weekly Market Wrap.

Moneyites.comMARKET SUMMARY: – The Nifty50 index selloff continues in the last trading session of the week. The index opens gap positive but succumbed to the selling pressure and slide down -1.02% to 10121. On WoW basis, the Nifty50 has a November contract expiry, Dipped more than 2.57 % to 10121and mark weekly high and low of 10409 and 10108 respectively. 

A data of 6.3 v/s 5.4 marks a trend reversal in the declining trend of the GDP data. The Indian economy on the recovery path and impact of Demonetization and GST impact is fading away.

TECHNICAL COMMENT: – On the daily chart, the Nifty50 index forms a long bearish candle and closed near the day low. The index, however, continues the Thursday selloff shown some declining of the trading volume in Friday session. 

The Nifty index trending downside and closed below the 50 days SMA whereas RSI stands at 38 level. The NIfty holds immediate support at 100 days SMA of 10060 level below which psychological level of 10000 can be tested on the downside.

A psychological level of 10000 may act as the strong support in the immediate time and hold above this market may trend sideways for a while before approaching to trend up in the coming time.
 
In short-term time frame, Nifty50 hold immediate resistance at 10165 above which 10225 can be tested on the higher side

BOTTOM LINE: – Trading strategy For Nifty traders,  The Psychological level of 10000 may act as a strong support in the short run.

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