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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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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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.

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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.

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Charts Of The Day for 15-20% Upside In Short Run.

India Bulls Real Estate Ltd:-   IBREALEST in NSE cash CMP 229.25  on close after gaining 3.62% in today’s trade. The stock price is trending in a long-term uptrend. The price action in the stock has a long consolidation forms a continuation triangle pattern on the daily chart and breaks out of its upper triangle resistance line in today’s day trading session.

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The stock price on close hold above the upper resistance line of the triangle Whereas RSI holds stands at 61.30. The stock price is also closed above the short and medium term moving average of 20 and 50 days on the daily chart and the ADX signals at 11.88 currently.

The stock price hold the uptrend momentum back from the 50% retracement  of the previous uptrend.

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BOTTOM LINE:- Trading strategy for traders and Investors , The stock price broke the resistance line with the spurt in the volume and if continue to hold above it may trend up to 239/255/280 level in the short run with keeping the stop loss below 210 level in the downside.

 

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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 tradinghttps://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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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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