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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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

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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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Nifty Up, As Investors Higher Appetite For Risk Overshadowed Trade War Fears

By Dinesh Sharma of Moneyites Global Research

Despite the warning alarms from the trade war fear, bulls keep on challenging the bears. Nifty 50 edged up 0.21% on the Friday trading session, adds up to gain around 0.50% on a weekly basis. 

Nifty 50:- Technically Nifty 50 index is forming the lower tops and finding crucial resistance at the downward sloping trend line at 10818 level. 

The Nifty50 index forms a larger triangle pattern, who broke downside on 27th June later correct down to 10557 level. It then took an upward reversal and rallied around 260 points and retesting it previous resistance downward sloping trend line at 10818 level.

As risk appetite grows on the hope of better earning session. It will be interesting to watch in the coming time. 

Whether the Nifty Fifty price action will break and hold above the level of 10818, it may trend up to 10860/10890/ 10920/10960 or it may confirm the downside breakout and correct down to the level of 10770/ 10730/ 10680/10630.

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Nifty Bank:- The banking index since broke out of it upward trending channel, starts trading in a sideways trend. The banking index has crucial resistance at 26600 and holding above it may trend to 26690/26770/26885 and vice versa it may correct down to 26410/26300/26215.

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Have a happy trading session.

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Prior To karnataka Polls, Profit Booking Drags Nifty 50 Below The Support Line

By Dinesh Sharma of Moneyites Global Research.

Market Summary:-  NSE Nifty 50 index drops 0.57 % to 10618 on the last trading session of the week. On weaker global Cues, Morning selloff in the Nifty index continues throughout the day to the day low of 10602 while keeping open high same for the day.

On Weekly time frame, The index falls 0.69 % after wiped out early gains of the week. The index has weekly high and low of 10784 and 10602 respectively.

NSE Nifty 50:- On Charts, The Nifty 50 index breached and closed below the short-term rising channel. The Nifty index forms back to back bearish candle on account of profit booking on weaker global cues. The benchmark index has immediate support at 10600 level below that it may retest support level of 10565-10535-10495 in the coming week and it may take resistance at the level of 10660-10710-10765 on the upside.

Nifty 50 index key level to watch is 10500 in the short term. So buy on dips around this level can be a profitable move in the coming time.

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NSE Nifty Bank:-  The Banking index forms a green candle and rose 0.16% in Friday trading to close at 25645.  At the current price, the index is in a consolidation phase and has immediate resistance at 25710 level above that an upside breakout in fashion may trend price up to the level of 25810-25980-26100 in the coming time and it has immediate support at 25530 below that it may retest support level of 25400-25230-25100 to the downside.

BSE Sensex 30:- The BSE main index declined 0.53% to 34915. The index price is in correction phase on account of profit booking. It has immediate support at 34700 level below that it may retest 34490-34230 in the coming week and it may take resistance at 35100 level above that 35225-35400 to the upside.

A prior week to Assembly election in Karnataka expected to add volatility in the market and an up trending Dollar price may add further selling pressure in the near term.

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South Indian Bank:- Short Term Stock Pick For 12-15% Upside.

As usual, every downswing in the stock price is followed by an upswing sooner or later.

South Bank, the stock price rose 5.77% intraday to close at 26.60.

On Charts, The stock price action sign for a bullish reversal after broke upside from an inverse head and shoulders pattern. In intraday trade, the stock price breaches the downward sloping trend line and closed above the resistance line with the spurt in volume.

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The stock price peaks 34.75 and since then drops to 22.25, -38 % taking resistance from the previous high of 35.05. it then took reversal holding support from the trend line of the weekly chart around the level of 21.00.

The stock price took more than a month to complete the formation of inverse H&S patterns and gives a bullish breakout yesterday after closing above the neckline with an increase in the volume. On 4h chart, RSI reading is above 70 level may sign the continuation of a trend in the coming time. MACD signal gives bullish crossover with positive divergence and ADX reading at 19.72 currently is only waiting for confirmation of the continued strength in the uptrend.

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The stock price is in positive momentum and may keep trending upside to 27.30/28.40/29.50 and 31.00 in the short run. The uptrend remains intact if the stock price is holding above the previous support line at 24.75 level on a closing basis.

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South Indian Bank:- Short-Term Stock Pick For 12-15% Upside.

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Power Nations Disrupting Trade Equilibrium, Raising Volatility In Financial Mkts.

MARKET SUMMARY :-  The benchmark index falls -1.14% to close at 10128. The Nifty 50 opens gap up and extend gains to touch intraday high of 10279 but later correct to the day worst level after china’s retaliate to the US Trade policies.

In Previous report I mentioned that if Nifty index  holds above 10230 level then its short term target will be 10270-10350 in the coming time. In today’s trading session we saw that Nifty hits it first given target of 10270 and later falls below the support level on trade war tension.

Nifty 50https://moneyites.com/ 10128 :-On Charts, The Nifty 50 index erased previous two days gain and forms a Bearish engulfing patternThe Nifty index falls after unable to hold above the downward sloping resistance line.

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The index has immediate support at 10090 level below that further correction to the level of 10025-9950 can be seen and it has immediate resistance at 10170- 10250 level on the upside.

Bank Nifty 24129 :- On Charts. The banking index forms a long bearish candle and closed near the day low with weakness. The index has immediate support at 24000 below that 23800-23600 can be correct on the downside and it has near term resistance at 24330-24500 on the higher side.

Global Risk :- Power Nation through New Tariff Policies disrupting the trade equilibrium raising volatility in Global Financial Markets.

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Domestic Risk :- Expectation of A Hawkish stance by RBI doesn’t supporting for a strong bull rally in the short term. The Vice versa of this along with strong earning session is the exception for the same.

BOTTOM LINE:- Trading strategy for Nifty tradersSell on high and add fresh short position below 10090 in the short term scenario.

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Nifty Up 0.33%, Bulls Ends Up Winning The Battle.

MARKET SUMMARY: –  Nifty 50 edge up 0.33 % to close at 10245 registered second consecutive gain in the week. The benchmark index opens gap down at 10186 taking weak cues from the global peers, it has then held support at 10171 and after a long tussle bulls end up winning the battle for the day.

With respect to the previous report, I mentioned that Nifty 50 may flirt at the level of 10230 and below that it may touch the level of 10175 and 10140 in the downside. Exactly same happens, As Nifty after opening gap down made the same high of 10229.45 and drag down to 10171 before breaching the level to the higher side.

Nifty 50 10245 :- On charts, Nifty breaks out of the declining trend channel and closed above the downward sloping trend line. RSI current reading at 48 and above 50 it may further strengthen the trend to rally upside in the coming time. 

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If Nifty 50 keeps holding above 10230 then it may target 10270-10350 in the coming time, whereas below the level of 10230 it may take support at 10170 and 10140 in the short run.

Bank Nifty 24510 :- The banking index also hit its given first target in intraday trading as mentioned in the previous report and holds above the level of 24500 on closing. The Bank Nifty index has immediate resistance at 24590-24670-24780 on the upside and it has support at 24430-24330-24200 on the downside

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BOTTOM LINE:- Trading strategy for Nifty traders, “Go long” till Nifty and Bank Nifty holds above the level of 10170 and 24250.

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Know How To Trade Bank Nifty For Profit?

Bank Nifty 24328.50:- The banking index forms a small green candle and keeps holding above the resistance line on Monday trade. The Bank Nifty index has an immediate resistance at 24375 above this bank nifty may target 24480-24620-24780 on the upside and on the contrary bank nifty has immediate support at 24140 below this 24000-23800 can be seen in the short run.

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BOTTOM LINE:- Trading strategy for Nifty traders, Buy above 24375 and Add Fresh long Position above 24500 levels inBankNifty

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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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