Markets:- How to Trade Nifty50 on Wednesday?

Moneyites March 31, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 Opens gap up by around 250 points at our second resistance level in the early trade but soon correct down to fill the gap and marks the day low of 8358. The bulls then take the charge from our first resistance level of 8340 and no turn back from there to hit the day high of 8678 before finally settled at 8597.75 with the gains of 316.65 points in the day trade.

The volatility index ( VIX ) drops by -10.41% to close at 64.41 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 1,251 in India and the death toll reached to 32, Whereas 7,55,591  people infected and 36,211 deaths reported worldwide from COVID-19

The index bounced back after retracing 50% of its recent uptrend. The index has a crucial barrier at the level of 9000-9100 levels, that will give a decisive direction in the coming time below that we may continue to trade range wise.

The index has immediate support at 8515 below that it may continue to slide to the level of 8420-8260 to the downside whereas it has immediate resistance at 8740 above that it may test the levels of 8910-9040 in the short run.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty50 on Tuesday?

Markets:- How to Trade Nifty50 on Tuesday?

Moneyites March 30, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 drops by 379.15 points or -4.38% to close at 8281.10 in day trade. The Nifty index opens gap down in the morning trade but sooner trend higher to fill the gap. The Nifty index then succumbs to the selling pressure from the resistance zone and test the day low and marks the new day low of  8244 before finally settled down.

The volatility index ( VIX ) gains marginally by 1.53% to close at 71.46 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 1,071 in India and the death toll reached to 29 by Monday evening, Whereas 7,34,931  people infected and 34,780 deaths reported worldwide from COVID-19

The Nifty50 index not only facing stiff selling pressure from the resistance zone but it also gives up around halves of its recent recovery. The Nifty index closed on a weak note and continue trading with the negative biases. The index has immediate support at 8180 below that it may continue to slide to the level of 8000-7825 to the downside whereas it has immediate resistance at 8340 above that it may test the levels of 8520-8800 in the short run.

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Nifty Tips

Also Read:- Stock Ideas:-You will love trading this chart.

Stock Ideas:-You will love trading this chart.

Moneyites March 30, 2020 No Comments

Stock Tips:- The PNB (Punjab National Bank) stock price is trending downward. The price action has now formed a descending triangle pattern, it is again a continuation pattern.

The stock price remains sideways from the last couple of days, while continue to face strong selling pressure from the resistance zone.

The downside breakout below the support line with a conviction may further strengthen the downside momentum in the coming time.

So a short position can be initiated in the stock below the support line for a target price of ..?.. with a strict stop loss of above…?.. on a closing basis.

Please give your feedback on what is your probable target and stop-loss?

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Stock Tips

Also Read:- Stock Tips:- Lupin

Markets:- How to Trade Nifty50 on Monday?

Moneyites March 27, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 Opens gap up 300+ points in the early trade but later wildly swung between profit and losses before finally settled in green with the marginally gain of 18.80 points or 0.22% at 8660.25. The Nifty index in intraday trade made day high and low of 9038.90 and 8522.90 respectively.

VIX :-The volatility index drops -1.60% to 70.38  in intraday trade. The index showed some relief in day trading though trading at near 11  years high levels.

Coronavirus:- The number of coronavirus cases increased to 724 in India and the death toll reached 17, Whereas around 5,42,000  people infected and more than 24,000 deaths reported worldwide from COVID-19

RBI Policy Announcement by Governor Shaktikanta Das:-

1) RBI cuts Repo Rate by 75 basis points to 4.4%.

2) Reverse Repo Rate cuts by 90 basis points to 4.0%.

3) CRR of all banks to be reduced by 100 basis points to 3.0%.

As mentioned in my last report( Markets:- How to Trade Nifty50 on Friday?)the stimulus effect is already price in the rally and today we have seen the market fizzled out soon after the relief package announced. Our paid clients have cashed that selling opportunity from a higher level.

The index has nearest support at 8490 below that it may test 8340-8190 to the downside whereas it has immediate resistance at 8770 above that it may show some more relief to the level of 8970-9130 to the upside.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty50 on Friday?

 

Markets:- How to Trade Nifty50 on Friday?

Moneyites March 26, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 opens gap up and resumes the previous day gaining momentum. The index registered strong gains and added 323.60 points or 3.89% to closed at 8641.45. It’s a third consecutive day gain for the Nifty index and last trading session for the March expiry.

The volatility index drops -7.85% to 71.53  in intraday trade. The index showed some relief in day trading though trading at near 11  years high levels.

Coronavirus:- The number of coronavirus cases increased to 694 in India and the death toll reached to 13, Whereas 4,68,644  people infected and more than 21100 deaths reported worldwide from COVID-19

The bulls continue the rally in today’s trading session. The recent uptrend is a result of steroids in the form of market stimulus. The bulls are in charge and may continue to show more upside in the coming time. The index has nearest support at 8490 below that it may test 8340-8190 to the downside whereas it has immediate resistance at 8750 above that it may show some more relief to the level of 8900-9130 to the upside.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty50 on Thursday?

 

Markets:- How to Trade Nifty50 on Thursday?

Moneyites March 25, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 Opens gap down in the early trade but later bulls take in charge and capitalize on the gain. The Nifty index registered massive gain and added 516.80 points or 6.62% to closed at 8317.85. The Nifty index in intraday trade made day high and low of 8376.75 and 7714.75 respectively.

The volatility index drops -7.16% to 77.62 in intraday trade. The index showed some relief in day trading through trading near 11  years high levels.

Coronavirus:- The number of coronavirus cases increased to 606 in India and the death toll reached to 10, Whereas around 4,46,789  people infected and more than 19,808 deaths reported worldwide from COVID-19

The Nifty index trading in line with the global theme and forms an aggressive bullish candle on the daily chart. The index has nearest support at 8150 below that it may test 7990-7860 to the downside whereas it has immediate resistance at 8420 above that it may show some more relief to the level of 8560-8720 to the upside.

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Nifty Tips

Also Read:- Stock Tips:- Lupin

 

Stock Tips:- Lupin

Moneyites March 25, 2020 No Comments

Lupin Limited:- In today’s trading session the stock price opens gap down and resumes the long term downtrend.

The Lupin’s stock price remains sideways in the short term and has crucial support at 580-79. The price action breaches the support line and hovering around it with the negative sentiments.

The price action is looking weak and expected to continue the downside in the coming session and so a short position can be initiated on the rise in the stock for a target price of 550-510 with a strict stop loss of above 605 on a closing basis.

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Also Read:- Markets:- How to Trade Nifty50 on Wednesday?

Markets:- How to Trade Nifty50 on Wednesday?

Moneyites March 24, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 Opens gap up in the early trade but later swung between profit and losses before finally settled in green with the gain of 190.80 points or 2.51% at 7801.05. The Nifty index in intraday trade made day high and low of 8036.95 and 7511.10 respectively.

The volatility index ( VIX )trading at 11 years high levels and gains 16.15% to close at 83.61 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 519 in India and the death toll reached to 10, Whereas around 4,00,000  people infected and more than 17,000 deaths reported worldwide from COVID-19

PM Modi in his statement has imposed 21 days complete lockdown in India.

In the near term, volatility will continue to rule the markets and the bulls to face stiff selling pressure from the higher levels. The index has nearest support at 7680 below that it may test 7500-7230 to the downside whereas it has immediate resistance at 8030 above that it may show some more relief to the level of 8200-8450 to the upside.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty50 on Tuesday?

Markets:- How to Trade Nifty50 on Tuesday?

Moneyites March 23, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 drops by 1135.20 points or -12.98% to close at 7610.25 in day trade. The Nifty index opens gap down and continues the correction rally to hit a 10% lower circuit. The trading resumes after a halt of 45 minutes on NSE but it further continues the correction to the days worst level of 7583.60 before finally settled for the day.

The volatility index ( VIX )trading at 11 years high and gains 7.28% to close at 71.98 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 471 in India and the death toll reached to 9, Whereas 3,66,956  people infected and more than 16,100 deaths reported worldwide from COVID-19

The Nifty index closed on weak note and trading with the negative biases. The index has immediate support at 7500 below that it may continue to slide to the level of 7230-7000 to the downside whereas it has immediate resistance at 7820 above that it may test the levels of 8145-8445 in the short run.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty50 on Monday?

Stock Tips:- Lupin

Moneyites March 23, 2020 No Comments

Stock Tips

Lupin Limited:- In today’s trading session the stock price opens gap down and resumes the long term downtrend.

The Lupin’s stock price breached it long terms support line of a downward trending channel and hovering below it with the negative sentiments.

The price action is looking weak and expected to continue the downside in the coming session and so a short position can be initiated on the rise in the stock for a target price of 580-550 with a strict stop loss of above 640 on a closing basis.

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Also Read:-Markets:- How to Trade Nifty50 on Monday?