Nifty to Retest 10230-350 level, Keep Check On RBI Move.

MARKET SUMMARY: – The Benchmark Index Nifty50 registered a weekly gain of  1.15% to close at 10113. This past week, Nifty50 takes off from the worst level of five months low of 9998 and retreats previous week losses on Monday and Tuesday but selling pressure at the resistance level of 10230 holds back Nifty to settle at 10113.

last Weekly data of lower claims of US Unemployment may set the positive tone for markets in the coming week.

This coming week, Market eyes on RBI Policy scheduled to announce on April 6 of this week, and I expected RBI may take a hawkish stance.

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Nifty50 10113.70:- On the daily chart, Nifty50 forms a small bearish candle taking resistance from the declining supply line. Nifty next hurdle remains at 10230 level that its taking resistance from the last two weeks. Nifty50 has crucial resistance level at 10230 above that 10330-10420 can be retested on the higher side. On the contrary, Nifty50 has immediate support at 10095 level below that 10030-9950 can be seen on the downside.

Bank Nifty 24263.35:- Bank Nifty forms a small Doji and holds above the resistance line in the last trading session. Bank Nifty index has immediate hurdle at 24500 level above that it may trend up to 24720-24980 on the upside. The Bank Nifty immediate support stands at 24200 below that 24090-23720 can be seen on the downside.

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BOTTOM LINE:- Trading strategy for Nifty traders, “Go long”  Aggressive traders can enter at the current level whereas conservative traders can wait for the level to breach on the higher side and maintain Positions with stop loss given.

Nifty50 Below 10k On Global Selloff Triggered By Trade War.

MARKET SUMMARY: – Nifty50 Extended losses in Friday trade to -1.15% to close at 9998. Nifty50 opens gap down in initial trade taking cues from the global peers on trade war fears and later retreats some losses but unable to hold the psychological mark of 10000.

On WoW basis, The Benchmark index slips -1.93% to 9998 and closed below the five months low level amid Trade War Fears.

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In this past week report, I mentioned that this week will set the tone of market direction in the coming time and same has happened and as an addition, not only interest rate but trade war also attribute in setting the tone for the market.

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TECHNICAL COMMENTS: – On the daily chart, The Nifty50 price action broke below the support zone near the 200 Days SMA on Monday trade and a short pullback on Tuesday, Wednesday and Thursday trade tried to retest the resistance level but failed to hold above it and on Friday a gap down opening and closing below 10000 level give further confirmation of more correction in the short run.

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Currently, Nifty50 hold immediate support at 9950 level and a breakdown may show more correction to 9910-9880-9850-9820 in the downside and vice-versa Nifty50 has immediate resistance at 10045-10070-10110-10140 on the higher side.

BOTTOM LINE:- Trading strategy for Nifty traders,  Selling pressure is existing on a higher level so sell on high and add more position when 9950 is breached and hold.

Weekly Report:- Power Pack Week Full of Market Events.

MARKET SUMMARY: – Indian benchmark index Nifty50 slips -1.59% to 10195 on last trading session of the week. Nifty50 opens gap down 15 points to 10345 keeping open high almost same for the day and widen losses thereafter as the day proceeds.

With respect to the previous week report, I wrote about the gap up opening, short-term pull back and last but not the least that bulls are resting above 10550 in the short term fit perfectly in this week.

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On WoW basis, Nifty50 made weekly high and low of 10470 and 10180 respectively.

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TECHNICAL COMMENTS: –On the daily chart, Nifty50 index forms a long bearish candle and erased around 50% of the last week gains. The Nifty50 index closed near the day low with weakness and keeps trending below the SMA of 20 days.

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Nifty50 has immediate support at 10100-10000 on the downside, On the contrary, 10340-10420 will act as a good resistance on the higher side.

Not negative on the market till 10000 is breached with conviction and maintained.

For me, Bulls are still resting above 10550 level and a breach of the same in fashion will further decide the upside direction in the coming time.

Interest rate policy by Federal Reserve, Bank of England and CBR scheduled to be on 21,22 and 23 of the coming week will set the market tone in the short run.

BOTTOM LINE:- Trading strategy for Nifty traders, Market may trade volatile. keep eye on interest rate policy as it is to set the market tone in the short run.

Weekly Report- Short Pull Back in Nifty Is Imminent On US Tariff Relief

MARKET SUMMARY: – Nifty 50 Indian benchmark index shut shop in red at 10226 after slipping -0.15% in last trading session of the week. The Nifty 50 index starts the day with a gap up opening but selling pressure on the higher level erased the morning gain and pushed down nifty to closed in red by the day closing.

On WoW basis, Nifty 50 index slips -2.2% and mark weekly low of 10141.

COMMENTS: – 

On Charts, The Nifty 50 index forms a bearish candle and closed below the 20 days SMA in today trading session. The main index trending downside and facing stiff resistance at the higher level.

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The Nifty 50 index holds immediate support at 10120 level below that 10075-10000 can be tested on the downside. A breakout of 10000 with conviction may open door to 9700 on the downside.

Whereas if nifty holds above 10302 level, a short-term pullback to 10360-420 can be seen. For now, bulls are resting above 10550 level.

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The US eases of the tariff may give some relief to the market in the short run and nifty may start the week with a gap up opening.

BOTTOM LINE:- Trading strategy for Nifty traders, Go long if Nifty holds above 10302 level for the upside of 10360-420, Below 10300 nifty remains weak.

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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.

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.

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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Nifty Forms Doji Ahead Of Union Budget 2018.

MARKET SUMMARY: –NSE Nifty index shut shop at 11027 (-21 points), The Indian benchmark index Nifty50 slides second straight day ahead of Union Budget 2018. The Nifty50 Index starts the day with a gap down opening and after filling the gap slides to the day worst level of 10979. On the back of Reliance Industries and Banking Stocks, the Nifty50 index takes off from the day low to close with the marginal losses.

Reliance Industries Ltd  Up 1.15% at 961.30.

Bank Nifty Index gain 110 points or 0.40% to close at 27379.

Tata Steel tank -9.13 % to 705.05.

Indian VIX down to -2.95 % at 15.93.

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TECHNICAL COMMENTS: – On the Daily Chart, The Nifty50 index forms a Doji pattern and holds support at 10 days SMA in today’s trading session. The Nifty50 index remains in positive territory till holding above the level of 10965 on the closing basis.

On indicator front, the index holds above the 70 mark in RSI and the MACD indicator is trading above the signal line, signs buy in the short term.

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Nifty50 Index expected to trade in a broader range and budget announcements will set the base for the future tone of the market in the coming time.

BOTTOM LINE: – On the Big Day. Higher volatility will be there so market traders and investors are advised to remains sectors and stock specific to the budget proceedings are done and have cash avail with them to utilize the opportunity for the maximum returns.

Reforms Push Nifty To Continue The Dream Run.

MARKET SUMMARY: – The  Indian benchmark index Nifty50 gains 0.72 % to close at 10894 in the last trading session of the week. The Nifty50 Index starts the day on a positive note and builds the gain to hit a record high of 10906 marks before closing in the green.

On Weekly Chart, The Nifty50 Index gain almost 2% and keep the bull run continues. As mentioned in the previous report, Nifty hit all the given targets on the higher side as mention in the previous report after holding the immediate support of 10650 and Bank Nifty Index has also joined the rally and shown upside of around 1200 points in the week.

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TECHNICAL COMMENTS: – On the Daily Chart, The Nifty50 index forms a long bullish candle and closed near the day high. The major index trending in an upside channel and has major support at the lower support line. The RSI stands at 76 level and index price closed well above the SMA of 26 days

Reforms push the benchmark index to continue the dream run.

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The Nifty50 index holds immediate support at 10850 level and positively holding above this may continue the bull rally to 10985-11040 on the higher side. On the contrary, the Nifty50 has important support at 10780-10690 in the short run

BOTTOM LINE:- Trading strategy for Nifty traders, Buy Dips till Nifty index holds above the major support level for weekly trade.

Weekly Outlook:- Bulls are In charged, Will Bank Nifty Join It?

MARKET SUMMARY: – The Nifty50 Indian benchmark index extends gain 0.28% to close at 10681 on last trading sessions of the week. The Nifty50 index opens gap up 31 points but unable to hold on the early gains drops to the days worst level at 10597 before record high closing ever.

On Weekly time frame, The index starts positively with a gap up opening and have the same open low of 10591 for the week and touching an all-time high of 10690. The index keeps trending in the north in the narrow range and gains more than just a  percent to close in the green.

Strong Global cues and Government move to allow 100 FDI in single brand, set the market tone positive.

TECHNICAL COMMENTS: – On the daily chart, the Nifty50 index trending upside in the narrow range and closed near the all-high level. The Nifty50 index holds crucial support at the lower support line at 10550 level and if continues to hold above it may trend up to 10750-10820 on the higher side. On the contrary nifty has immediate support at 10650 below that it may slip to 10600-10550 level in the coming time.

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Bank Nifty Index NSE India banking index is in a consolidation phase with positive biases. The Index set up on the daily chart is in process of having a big move to come in the coming time. The index holds immediate resistance at 25800 level above that 26100-26400 can be targeted on the higher side. Whereas below the immediate support level of 25650 further corrections to 25450-25300 can be seen.

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BOTTOM LINE:- Trading Strategy for Nifty traders, The bulls have the upper hand if nifty holds above 10550 in the short run. Market to see fresh highs if global cues and bank nifty supports.