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On the charts, the Indian benchmark index Nifty 50 breaks out of the trading range and it is now consolidating and holding above the downward sloping resistance line. The index has key support at 10250 holding above it on closing Nifty index may rise to 10530-10650 in the coming time.

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Nifty 50 May See Some Bounce Back, But Bounce Back Vulnerable To Selling Pressure.

Indian benchmark index NSE Nifty 50 closed down 149 points to 10303 on the Friday trading session. The main index opens gap down 130 points to 10323 and keeps sliding thereafter to the day’s worst level of 10249 before finally settled to 10303.55.

On weekly time frame, the index has retreated previous week gains and mark weekly high and low of 10710.15 and 10249.60 respectively.

Nifty 50:-On the daily chart, the index has gap down opening followed by a weak closing for the day. The index is in correction phase and witnessed heavy sell off from its 200 days simple moving average. On candle stick front, Nifty forms a Doji candle signs neutrality in the coming time.

To fill the gap the index may see some pull back in the coming time. The index has nearest resistance at 10340 above that it may test 10380-10420-10460-10490 to the upside. The bears are in control of market and any pullback is vulnerable to selling pressure. The index has nearest support of 10270 below that it may test 10240-10210-10170-10130 in the coming time.

Bank Nifty: – The banking index retreats near by 50% of its previous weak gains and closed near its short term support of 24920. The index has nearest resistance at 25170 above that it may trend higher to 25280-25460-25580-25750 in the coming time, whereas below the support level of 24920 it may fall to 24800-24670-24490-24270 in near term.

USDINR: – The Rupee closed with the gains of 27 Paisa against the US Dollar on the Friday trading session. The currency pair marks the all-time high of 74.49 in the past week.

The currency pair is in overbought zone and has witnessed second consecutive weekly losses on the chart. The Rupee may see gaining more strength against the US Dollar in the coming time, if it maintains to keep trading below 73.75-74.00 in the coming time.

Bottom line: – Moneyites.com recommends market may see some pull back, But Any pull back is vulnerable to selling pressure till Nifty and Bank Nifty is trading below 10770 and 26000 respectively.

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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.

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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.

 

 

 

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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.

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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.

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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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Bulls Are In Charge And A Step Shorter To Hit Fresh All Time High.

Nifty 50 Index edge up 0.45% to close at 11134. A second consecutive gain in the week bring nifty closer to the all time high level. Nifty Index opens gap up 20+ Points and off the day high to fill the gap, But soon recover from the low and keeps consolidating with the positive biases near the day high.

As mentioned in the previous report that Bulls to Resume Rally Above 11080, same thing we are seeing in the market.

Nifty 50 :- Technically, Nifty index breaches the trading range (10920 -11080) and closed above the level of 11080 on Monday trade. The Nifty index capitalize on the Monday gains after gap up opening and hold on the gains by closing near the day high with positive biases. 

Bulls are in charge and looking no way to settle before hitting the fresh all time high.

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The benchmark index has carrying positive momentum has immediate hurdle at 11150 above that 11172- 11200-11230 will act as a resistance in the coming time and the index has near term support at 11100 below that 11070-11045-11000 can be retested.

Nifty Bank:- The banking index bounces from the lows, but still trading in the range. The banking index has crucial hurdle at 27200. The banking index has immediate resistance at 27090 above that 27200- 27290- 27420 can be seen in upside, Whereas it has near term support at 26900 below that it may retest 26840- 26750-26600 in the coming time

Happy Trading

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Nifty Reclaims 11000, Bulls To Resume Rally Above 11080.

Nifty index edge up 0.48% to 11010 on the last trading session of the week. The price action for the nifty index remains range bound in the past week. On Weekly time frame, Nifty index down 8 points and mark weekly high and low of 11076 and 10925 respectively.

Nifty 50:- The Nifty index is trending upside and holding above the downward sloping resistance line. Currently, the price action is in consolidation phase, soon after a stronger upside move led by a breakout. 

The Nifty index remains in the range of 10920-11080 and a either side decisive breakout will sent the market tone in the coming time.

Nifty50 , Nifty Bank , Share market

This price action is showing higher commitment to a upside move and the breach of the resistance level of 11080 may resumes the bull rally and nifty may trend  up to the level of 11110/11150/11190 in the coming time. Whereas a downside break out from the trading range may correct nifty down to the level of 10890-10840-10790.

Nifty index has immediate resistance at 11025, a closing above this level may retest the level of 11055-11080 and  it has immediate support at 10095 below that it may correct down to  10970-10920 in the range bound scenario.

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Nifty Bank:- On  weekly chart, the Banking index forms Doji. The banking index trending upside and it has been consolidating in a range of 26600-27200. A either side decisive move will set the market tone in the coming time.

On Immediate basis, Bank nifty may face resistance at 26900 above that 27025-27200 may act as a resistance and on the downside it may take support at 26720-26600.

Happy Trading

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Market Update:-Nifty 50 Trend Sideways At 11000 Mark.

By Dinesh Sharma of Moneyites Global Research

Global markets are feeling the heat of higher dollar prices.

Nifty 50:- On Charts,  The Nifty fifty index price action turns sideways after the bullish rally of around 525 points. The index trading in a wide range of 10920-11080. 

At the time of writing, Nifty index trading 48 points up reclaims 11000 level. The index has immediate resistance at 11025 above that it may trend up to the level of 11050-11080 -11110 in the day. Whereas nifty index has near term support at 10970 below that it may test 10950-10920-10890 in the downside.

The advance decline ratio is 1:1.

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Bajaj finance, followed by Bajaj Finserv leading the Gainers Charts, Whereas Bajaj Auto followed by ONGC is the top loser for Nifty 50 index.

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Nifty 50 Closer To A Historic Run, Large Caps Leads.

By Dinesh Sharma of Moneyites Global Research

In Friday trading session, Nifty 50 down 0.04% or -4 points to 11018 on account of profit booking. Large cap Stocks leads Indian benchmark index to have a good run added 2.28% in the past week. Nifty index marks weekly high and low of 11078 and 10807 respectively.

Nifty 50:- In past week, We saw the Nifty index fails to give the confirmation of triangle breakout to the downside (false breakout). It then move up and broke upside resistance of 10816 and rallied to 11078, on short covering of the position and fresh long position above the resistance level.

Technically Nifty 50 has a upside breakout and closed on the higher note (amid fresh threats of 200 billions of tariff from the US). The Nifty index trading in a positive momentum and has an immediate resistance at 11080 above that it may trend up to 11120/11160/11210.

Whereas Nifty index has immediate support at 10995 below that it may retest the support level of 10970/10940/10880 in the coming time.

Nifty 50 , Nifty Bank , Market

Nifty Bank:- On shorter time frame, The banking index has an uptrend and keep  trading with positive biases. The Bank Nifty Index has crucial resistance at 27165 above that the bull rally to continue in the coming time. 

It has immediate resistance at 27040/ 27165/27290 and near term support at 26840/ 26770/ 27650

Reliance industries, Yes Bank, IT Major TCS , Infy and Bajaj Finance are some of the major gainers in the Nifty 50 rally past week.

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