Sell Theme in Nifty, Short Term Support at 10773.

Past week, we saw Nifty 50 continues the slide and made new weekly low of 10850 before finally settled at 10930 after loss of 47 points on the Friday trading session.

The index has registered 4th straight weekly losses on the chart and closed near the weekly low with the negative sentiments.

Nifty 50:- The index forms a bearish candle has shown third straight fall on the daily chart. The index trending downwards and additional sell off triggered after US hikes it interest rate policy last week.

The index fall around 900 points in Sep month, nearer to its 200 days simple moving average of 10773. The index has sell theme and may test the key support level in the coming time.

The index has nearest support at 10850 below that it may test 10810-10770-10745-10710 in the coming time. Whereas it has nearest resistance at 10960 above that it may test 11000-11030-11065-11085 in the short run.

Bank Nifty: – The banking index has nearest resistance at 24920 above that it may test 25000-25110-25250-25380 to the upside, whereas it has nearest support at 24750 below that it may test 24670-24560-24460-24370 in the coming time.

USDINR: – The Currency pair hovering near it key resistance level of 73 in the short run. An upside breakout may cause additional sell off in the market or holding below the level may hope of short term relief in the coming time.

Bottom line: – Moneyites.com recommends market to trade with negative biasness till it’s trading below 11200 for Nifty and 26000 for Bank Nifty in the short run. IT sector to be focused in short- term.

Buy Nifty Put on Rise to Hedge Portfolio Form US Int Rate Policy, Resistance 11205.

The Indian Benchmark index rose 100 points to 11067 by the end of Tuesday trading session. The index open flat and keeping swinging between profit and losses before finally soars 100 points in the last hour and a half trade on news of infusing additional liquidity in the system through CRR cut.

All sector indices are closed in green exception to Realty sector, who’s down 1.72% for the day, whereas Nifty Pharma is the top gainer sector with 2.51%.

Nifty 50:- On Charts the index forms a bullish candle and closed near the day high with positive notes. The index breaks the losing streak after five days on news of aiding liquidity in the system.

The Interest rate policy in US is scheduled to announced today may set higher probability of hiking interest rate today which may further add selling pressure on the higher level.

The index has nearest resistance at 11110 above that it may test 11140-11170-11205 on the upside, whereas it has nearest support at 11030 below that it may test 10990-10955-10930 to the downside.

Nifty50 , Nifty Bank , Share market

Bank Nifty:- The banking index rose on positive news get some stability in the short term from downside risk. The index has immediate resistance 25420 above that it may test 25520-25670-25820 in the coming time. Whereas it has nearest support at 25250 below that it may test 25150-25020-24890 to the downside.

USD/INR:- On the Charts, the Currency pair forms a double bottom may trigger to the higher side on rising interest rate policy. The currency pair target 75-76 in the coming time against the US dollar and a vice versa may give some relief in the coming time.

Bottom line: – Moneyites.com recommends buy put option on rise to hedge your portfolio against short term uncertainty.

 

 

 

Bloodbath Continues as Nifty Drops Another 150 Points.

The Indian benchmark index deepens losses on Tuesday trading by 150 points to 11287 by the day close. The index opens on positive notes but fails to build on the morning gains keep sliding there on to the day’s worst level of 11274.

FMCG worst performer on the sector front fall 2.41% for the day, whereas Titan top loser with 4.29% for Nifty50. Market Breadth remains negative with 44 stocks trends negative against 6 stocks only remains positive for the broader index.

Nifty 50:- Technically the index forms a long bearish candle on the daily chart and closed near the day low with the negative sentiments. The index opens positive but fails to hold the support level of 11470, which drags Nifty 50 below the level of 11300 for the first time after 5 weeks of trade.

The index has near-term resistance at 11310 above that some more upside to the level of 11345-11380-11430 can be seen in the upside, whereas it has immediate support at 11230 below that the correction rally may continue to 11200-11180-11150 in the short-run.

Bank Nifty: – The banking index fall 1.45% in today’s trading session. The banking index has near term resistance at 26860 level above that 26980-27140-27280 can be seen in the upside, whereas it has near-term support at 26750 below that it may test 26640-26480-26380 to the downside in the coming time.

Bottom line: – Moneyites.com recommends sell on high till Nifty index trades below 11470 in the short run.

Nifty Forms New Base After Market Correction, But Still Short of Buy Point.

Indian benchmark index NSE Nifty 50 swings between profit and losses before finally settled 59 points up at 11536 in the Thursday trading session. The Indian index open gap up but soon erode the morning gains and keep puzzled the investors and traders from it volatile movement for the day.

Nifty 50:- Technically, the index has fallen around 350 points in current week from 11751-11394. The index then took the reversal from the low of 11393 and it’s now forms a new base after market correction. The index is still short of the buying zone and keeps consolidating at the lower level for now.

The index has immediate resistance at the level of 11570 above that it may rally to 11613/11640/11670 in the coming time, whereas it has immediate support level at 11495 below that it may test 11460-11435-11390 in the short run.

Bank Nifty: – The banking index has crucial support zone at 27000-27100 in the near term. The Bank Nifty index has immediate resistance at 27525 above that it may retest the level of 27660-27810-27970 to the upside, whereas it has immediate support at 27250 below that it may retest the level of 27170-27035-26900 to the downside.

Bottom line: – Moneyites.com says, Nifty may trade in range of 11460-11570 in the near term. The either side breakout on closing basis may set short term direction in Nifty.

 

Depreciating Rupee Propelling Nifty 50 & Stocks price to trend down.

On Tuesday, Indian benchmark index NSE Nifty deepens losses by 62 points to 11520 by close of the day. The Nifty index opens slightly gap up but selling pressure on the higher level pushes Nifty down to test the support level of 11565-11530-11500 in today’s trading session. The index touches the worst level of 11496 of the day before finally settled to close at 11520.

PSU is the top worst performing sector fall 3.55%, Whereas Grasim and Ultracemco is the top loser for Nifty 50.

Moneyites.com

Nifty 50:- The Nifty index forms second bearish candle on the daily chart after it closed below the upward trending support line. The selling pressure on the higher level of 11613 and above is eminent that propelling index to trend downside. The index trading with negative biases and closed near the day low with negative sentiments.

The Nifty index has immediate support at 11495 below that it may test 11470-11450-11430-11390 level to the downside, whereas it has nearest resistance at 11545 holding above this it may test 11570-11595-11613-11640 to the upside in the near term.

Bank Nifty: – Bank Nifty falls -1.40 % to 27430 in today’s trading session. The banking index breaches the trading range to the downside and shown sharp correction thereafter.

It has nearest support at 27320 below that it may test 27195-27045-26950 level to the downside, whereas it has immediate resistance at 27560 above that it may test 27700-27840-27950 level to the upside in the coming time.

As Rupee keeps depreciating and falls 36 paise against the US dollar, it closed to record low level of 71.58 on Tuesday trade.

Bottom line: – Moneyites.com recommends selling on high till Nifty holds below 11665-70 on the Closing basis.

More correction in near term, If Nifty trades below 11665-70.

Indian benchmark index NSE Nifty 50 falls 98 points or 0.84% to 11582 on Monday Trade. Indian index opens gap up 70 points to 11751 but fails to build on the gains, its keep sliding from the peak level of 11751 to the day’s worst level of 11567.

FMCG sector is the worst performing sector which fall 2.44%, Whereas Bajfinance and HUL are among the top losing stocks of Nifty 50.

Nifty 50:- The Nifty index forms a long bearish candle on the daily chart and closed below the upward trending support line. It’s the first time, that the index broke and hold below the support line since it upward rally from the lower level of 10557.

The index wipes out the previous week gains and closed near the day low with the negative sentiments. The Nifty index may find selling pressure at the level of 11665-70 in the coming time and fails to hold above it, the correction to continue in the short run.

The Nifty index has immediate support at 11565 below that it may test 11530-11500-11470 in the coming time, whereas it has immediate resistance at 11613 above that it may test 11643-11670-11700 in the near term.

Bank Nifty: – Banking index falls 0.86% in today’s trading session and closed near the support zone of the trading range of 27730-28400. The banking index if continues to hold above the level of 27730 it may test 27940-28080-28170 in the coming time, whereas below the support zone of 27700, the downside risk may drag banking index to the level of 27610-27470-27320 in the near term.

Bottom line:- Moneyites.com recommends sell on high till Nifty holds below 11665-70 on Closing basis.

GDP Data To Boost Investors Confidence, Nifty May Set To Open Higher.

The Indian benchmark index NSE Nifty50 marginally up 0.03% to 11680 on the Friday trading session. The index opens gap up but soon erode the morning gains. It holds support at the level of 11640 for the rest of the day and manages to close with small gains.

On Weekly time Frame, The index gain more than a percent and registered the sixth straight weekly gain. The index mark weekly high and low of 11760 and 11595 respectively.

Nifty 50:- The index forms a Doji candle on the daily chart, sign neutrality in the coming time. The Nifty price action is trending higher in the upward trending channel and if continue to trade above the support line, the price action has a higher commitment to move towards the resistance line in the short run.

The Bull trend is active and has immediate resistance at 11720 level above that the price action may test the level of 11760 -11800 -11850. Whereas it has near-term support at 11640 level below that it may test 11600-11550-11510 level in the short run.

Nifty Bank:- The banking index remains sideways and trading in the range of 27700-28400 from last few weeks. The breaking of the range on a closing basis will set the future tone in the coming time.

The index has immediate resistance at 28150 above that 28285-28400 will act as the next resistance level and it has immediate support at 27940 below that 27840-27700 will act as the support level in the short run.

Gross Domestic Product data grew at 8.2%  for the first quarter of the year is higher than the expected, It may give a positive open for the market coming Monday.

Bottom line:- Moneyites.com recommends buying dips till Nifty holding above the level of 11600 on a closing basis.

 

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All Time High – Correction – Recovery- Bulls In Command Nifty To Retest 11450-11500

Indian benchmark index Nifty 50 ended 1.03% up to 11360 on last trading session of the week. The Nifty index opens gap up and sharply recover the two days losses.

On Weekly time frame, The Nifty index hit a fresh all-time high of 11390 and made weekly high and low of 11390 and 11235 respectively.

RBI hike repo rate by 25 bps whereas Federal Reserve keeps the key interest rate unchanged.

What a fantastic Friday?  the sharp correction on Wednesday and Thursday after RBI hike repo rate. give the opportunity to go long near the crucial support level of 11230 on Thursday for the target of 11360-11450 on Friday, as mentioned in our previous report.

Nifty 50:- Technically the fifty shares index Nifty is trading in an uptrend with the positive biases after the triangle pattern breakout. The index hitting a fresh all-time high level, followed by the correction to sharp recovery to give strong closing signs more upside above the level of 11400 in the coming time.

The Nifty index price action is showing strength while trending upside and keeps holding the gains on a closing basis. It has immediate resistance at 11400 level above that it may trend to 11430-11465-11495-11520 to the higher side, Whereas it has immediate support at 11320 below that it may correct down to 11290-11265-11230-11200.

Nifty Bank:- The Banking index gains 1.25% on the Friday trading session to close with small gains on weekly basis. The banking index trending upside with positive momentum and has immediate resistance at 27730 above that it may trend to 27820-27910-28000 on the higher side and it has immediate support 27580 below that it may correct down to 27440-27320-27200.

Happy Trading.

By Dinesh Sharma 

Midcap & Smallcap Stocks Shown Spark. Go Long On Dips, Nifty To Retest 11360-450.

Nifty 50 up 0.99% to close at 11278 on Friday trading session. Nifty50 index open gap up and keeps on capitalizing on the morning gains to closed at the day high.

What a fabulous week, Nifty50 index shown record breaking rally hit fresh all time high and gain around 2.40%. The Nifty index made weekly high and low of 11283 and 11011 respectively.

Nifty 50 :- Technically,  the Nifty 50 index keeps trending northward after triangle breakout to the upside. The market rally to the upside is also getting support from the quarterly result of the large cap companies.

In past week, What is most surprising and good for the market in the coming week is that  Mid cap and Small cap stocks has started showing momentum and joined the rally.

The Nifty 50 index trending higher with strong positive momentum has immediate hurdle at 11320 above that it may retest 11360-11400-11450 to the upside in the coming time. Whereas it has immediate support at 11230 below that it may show some correction to the level of 11200-11170-11130.

Nifty Bank :- The banking index breached the trading range in style and closed near the weekly high after hitting fresh all-time high of 27661.

The bank nifty index is in strong positive momentum has immediate resistance at 27661 above that 27750-27860-27980 can be witnessed on the higher side. Whereas it has immediate support at 27600 below that it may correct down to 27520-27400-27230.

Time your trade to get best possible result. The level of 11000 and 27125 seems to be crucial support for Nifty and Bank nifty respectively for the long Position on closing basis, as profit booking cannot be ruled out at this level

Happy Trading.