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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Market Not Impressed With Outcome Of GST Meet, Nifty Selloff Continues.

MARKET SUMMARY: – On Monday trading session, Indian benchmark index the nifty continue the selloff journey. The Nifty index opens flat and made the day high of 10334 dots near the first resistance level of 10335. The selling pressure at the resistance level pushes the nifty below the support level of 10300 marks and below that it kissed the support level for the day of 10265-10240. The nifty index made intraday low of 10216 near the final support of the day of 10200 and from there managed to close at 10225 with the loss of -96 points.

TECHNICAL COMMENTS: – On Charts, Nifty index forms a long bearish candle and closed near the day low with weakness. In day trading session the nifty index broke and hold below the 21 and 26 days SMA where it holding support from the last three trading session. RSI stands at 48.57 level and MACD is trading below the signal line sign further weakness in the short run.

In the previous week, on longer time frame the nifty index broke out of bullish trend channel and thereafter continue to trend downside. The index holds important level at 10200 marks near the structural support line. A breakout in fashion below the level of 10200 marks, market selloff can continue and further downside to the level of 10180-10150-10120 can be seen. The Nifty index has immediate resistance at 10270 level above which 10300-10330-10365 can be retest on the higher side.

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BOTTOM LINE:-For the Nifty traders, market trending downside with negative biases. So sell on high will be good trading strategy till market holding below 10400 level. The Nifty may find support at 10200 level and some relief rally can be seen, but below this level, the correction rally may be continued further.

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Share Market:-Nifty Weekly Update

MARKET SUMMARY: – In Last trading session of the week Indian benchmark index Nifty closed in green at 10321 with the gain of 13 points. The Nifty index remains volatile and traded in the range for the whole day. ON WoW basis the benchmark index nifty trims 130 points from the last week closing. In the last week, the Nifty index marks an all-time and weekly high of 10490 level and weekly low of 10254.

TECHNICAL COMMENTS: – On daily charts, the Nifty index forms a spinning top formation Signs neutral for now. The Nifty index trending downside, but halt the losing streak on hopes of a positive trigger from the GST council meets on the last Friday.

A thumb up is given to the outcome of GST rate cut and ease in filing returns form the business perspective, definitely a positive move to boost the economy from drying liquidity and accepted a better second half for the economy.

In short-term time frame, the Nifty index closed on a positive note. The index price broke out of declining channel pattern and closed above the short term EMA of 5 and 14 days. A positive holding above the level of 10300 marks may retest the upside level of 10335-10368-10400 in the coming time. Whereas below the 10300 mark market may see further selloff to the level of 10265-10240-10200 on the downside.

 

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BOTTOM LINE:-The market expected to remains in the range of 10200-10400 level. A positive closing above 10400 marks may change in market sentiments and Fresh long position can be made. Whereas below the level of 10200 marks further downside can continue in the coming time.

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Can GST Trigger Able To Change The Market Trend?

MARKET SUMMARY: – Indian benchmark index NSE nifty open gap up 55 points at 10358 and made day high of 10368. The selling pressure at the resistance level of 10390 pushes the Nifty down to fill the gap. Nifty slid down 100 points and made intraday low of 10266 dots near the support level of 10265 mentioned in the previous day report. Finally, the Nifty index managed to close in green at 10308 with the gain of 5 points.

MARKET FRIDAY VIEW: –In longer time frame nifty index has downside breakout and continues to trade with weakness till holding below the level of 10400 on a closing basis. Fresh buying can be seen only above this level. On Thursday session, nifty index stopped its two days losing streak after closed above 10300 level on it second consecutive day. On shorter time frame too, nifty trending downside but closed on a positive note on hopes of GST rate cut in Friday meeting of GST council. The Nifty index may trade volatile with negative sentiments for now. Nifty has immediate resistance at 10330 level above which it may retest the level of 10360-10390 on Friday trade, whereas nifty holds important support at 10265 level below that correction rally may further continue to the level of 10240-10210 in the coming time.

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Nifty has intraday resistance at 10330-10360-10390. / Nifty has intraday support at 10265-10240-10210.

BOTTOM LINE:-For Nifty Traders, A hope of positive trigger from GST council may boost the market in short term, But the fresh long positions in the Nifty index only above 10400 level. Below this level of 10400 nifty expected to trade with weakness and may retest the support level of 10265-10210 in the downside in the coming time.

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