Weekly Outlook:-Expiry Week Trade in Nifty.

MARKET SUMMARY: –Nifty 50 Indian Benchmark Index slips -0.88% to close at 10452 on Friday trade. The main index opens gap up but unable to hold the morning gains falls to the day worst level of 10434 before settled down to 10452 for the day.

On WoW basis, The Nifty 50 Index closed flat After a positive start. The benchmark index swings between profit and losses in the week, while selling pressure continue to exist at the higher level.

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TECHNICAL COMMENTS: – On the daily Chart, The Nifty 50 index forms a long bearish candle and engulfed the gains of previous four days. The main index closed on a weak note after facing stiff selling pressure on the higher level.

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On the closing basis of the index, RSI is trading at 39, MACD signs sell crossover with negative divergence and ADX at 28, signs of further weakness if support level to break in the coming time.

For the coming week, Nifty 50 index has crucial resistance at 10620-740 level on the higher side. Whereas the main index has crucial support at 10400 level below which it may slips to 10275-10120 on the downside.

BOTTOM LINE:- Trading strategy for Nifty traders, Nifty to remain volatile. Sell on high till 10740 breaches and hold.

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Weekly Report:- Is Nifty Open To More Downside?

MARKET SUMMARY: –Indian Benchmark Index Nifty50 slips -1.15% to close at 10454.95. on the last trading session of the week. The Nifty50 index starts the day with the gap down opening of 160 points at 10416 and extends losses further to marks the day low of 10398. It is in second half the Nifty50 index recover some losses and manage to close at 10454.00

As mentioned in the previous Weekly Report, The Nifty50 index shown the correction and closed below the final target of 10500 level.

The Market main index marks weekly low 10276 but managed to erase some losses to close at 10454 after sliding -2.84% in the week.

TECHNICAL COMMENTS: – On the daily Chart, The Nifty50 Index forms a small green candle. The main index starts the day on a weak note and keeps on consolidating near the day low by the market closed.

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On closing, RSI holds at the 36 marks and MACD gives a sell crossover with negative divergence on the indicator front.

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nowadays The Nifty 50 index witnessed an increase in the trading range and Currently, the index hold major support at 10400 level. A convincing breakout and closing below the level may open more downside to the level of 10275-10150 in the coming time. whereas holding above this level Nifty index may trend up to 10580-10730 in the short run.

The Nifty 50 index trending in line with the global market selloff.

BOTTOM LINE:- Trading strategy for Nifty traders, Buy Low and Sell High.

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Weekly Report:- Nifty Form Bearish Englufing Pattern On Weekly Chart.

Market Summary:- The Nifty 50 index tank 256 points and closed in red at 10760  post-Union Budget 2018. The Nifty 50 Index has biggest weekly loss of 3.15 % in a year.

The implication of LTCG and lack of incentives from budget force Markets to drag down.

Technical Comments: – On the Daily Chart, The Nifty 50 index forms a long Bearish candle and closed near the day low with weakness.

MACD signal a sell crossover and RSI is trending in the weak Zone.

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On the Weekly Chart, The Nifty 50 index forms a Bearish Engulfing Pattern signs further weakness or profit booking in the coming time.

Nifty 50 index has immediate support at 10660-10500 in the coming time, Whereas immediate resistance place at 10900-11120.

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Bottom Line: – Trading Strategy for Nifty traders, Sell on High with stop loss.

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