Nifty closed in green & forms inverted hammer pattern amid N K tension

On Monday trade Nifty closed at 9794.15 with gain of 83.35 point. On daily chart nifty forms a inverted hammer pattern and closed above the short term 5 Day EMA of 9792.40 on hourly chart, may signals some more strength to the bull trend in the short run. As mentioned in my last report nifty above the level of 9775 may face the next resistance at 9810 level and that we saw on Monday trade. So positively holding above this level of 9810 nifty may trend up to 9860-9892 in the short run and above this 9960 may act a crucial resistance level in the coming time.

On the contrary, war on North Korea is still weighs on global market. Technically RSI is ranging below the 50 mark and nifty price is trading below the 20 day EMA of 9905 on daily chart may give enough room for the bear to act. So breaking below the immediate support level of 9775 with volume price may correct down to 9750-9710-9660 in the short term.

Resistance level above 9810 price may trend up 9860-9892-9960 level.

Support level below 9775 price may correct down to 9750-9710-9660 level.

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Nifty forms a doji sign indecisiveness of market direction.

On charts nifty forms a doji pattern reflecting indecisiveness of market direction in the coming week. Last week US and North Korea war tension weighs on global market and a result of this nifty shown a remarkable correction of the year for the week. On Friday nifty shut shop at 9710.80 (-109.45) points.

For the coming week, Nifty may take the clues from the global market. On long term time frame nifty breakdown from the channel pattern and closed below the support line. For this week nifty hold crucial support level at 9640 below this it may further correct down to 9595 and 9540 level. On the up side nifty have important resistance at 9775 holding above this level nifty may trend up to 9810-9860 in the short run.

Is Nifty in the Bear’s Grip ?

Nifty Spot 9511.40 (-63.55):- Nifty closed in red and below the crucial support level of 9550 mentioned in our previous report. If Bear trend to continue nifty may face strong selling pressure around 9550 level and it may drag nifty to 9490-9450 level.

On the contrary if nifty holds above the level of 9550 it may try to test the resistance level of 9575-9615 in the upside.

Nifty key level to watch for Bull Trend is ……

Nifty Spot 9574.95 (-55.05):- Nifty trading range bound and a key level to watch is 9550. Buy on low if continue to hold above this level for target 9590-9640 and a decisive breakout below 9550 may drag nifty to 9510-9460.

Maruti 7219.15:- Sell on high @7245-50 for target 7205-7165 stop loss…

UPL 834.05:- Sell on high @ 839-842 with stop loss above 850 for target 825-810

ITC 311.00:- buy on low for target 313-317 with stop loss……..

JUBLFOOD 922.95: – Buy above 92…. For target 934- 944 Stop Loss below 916

Grab the opportunity or Grab the Money……

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US Federal Reserve is most likely to increase the interest rate by 25 BPS today. A hike in interest rate by US central bank may give an opportunity to sell on rise for booking short term profit if fails to cross the resistance level and it vice versa it may add some more strength to the bull trend if holding above the support level.

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25 Bps may not be a strong trigger for the market, #Nifty resistance at 8225-8250.

Market Update: – #Market flat ahead of #RBI Policy, Brokers expecting a 25 bps cut in the interest in the upcoming policy. A 25 bps may not be a stronger trigger for the market and some of the bull rally may also be already price in. Nifty spot have crucial resistance at 8225 above which it may show more uptrend to the level of 8280-8290. On the contrary, nifty hold important support at 8100 and 8050 in the downside. More Information Visit Here:- http://moneyites.com/

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Nifty bull trend may face crucial resistance at 8225.

NSE Nifty fifty index closed at 8114.30, after breaking the losing streak. Nifty made weekly low of 7916.40 and closed with the gain of 40.20 points on weekly basis. Nifty may continue its bull trend and try to test the crucial level of 8225 in the short term.

It will be a wait and watch strategy at the level of 8225.

Closing and holding above the level of 8225 it may show some more bullish trend to the level of 8275-8340.

Vice versa Nifty is trading below the 100 DMA and may find stiff resistance at 8225 level. Trading below this level it may continue to trade in south zone.

nifty

 

 

 

 

 

 

 

 

 

 

For Monday, Nifty above the level of 8130 may continue the bull trend to the level of 8150-8185 and 8210. Nifty hold decent support at 8080 below which it may show more correction to the level of 8055-8030.

 

 

Market Update

Nifty 8014, Nifty opened up with gap of 42.45 points at 8007.95, and shown some recovery on account of short covering, currently nifty have major resistance at 8060 above which nifty may shown some more bull trend till 8090-8120. Nifty has intraday support at 7980-7935.
Metals stocks are shining on high commodity prices, banks and IT are giving good support for short term uptrend.