Nifty50:- Will Bull Tag The Resistance line For 12000 On Election Result Day?

Moneyites May 22, 2019 No Comments

Market Summary: – In the past week, The Nifty50 index rebounds and bounced back from the support level of 11000. After nine days of straight drop triggered by the US-China Trade War.

During this week, we saw The Indian benchmark index NSE Nifty50 starts on a strong positive note on the exit poll result of NDA wins and registered a remarkable gain of 440 points on Monday. On Tuesday, the benchmark index capitalized on the previous day gain and hit an all-time high of 11883 but fails to hold and slips down to 11682 before finally settled at 11709. In today’s trading session, the Nifty50 index opens flat to positive and remains sideways with the positive biases. The index edges up 28.80 points to 11737 by the end of the trading session.

Nifty Tips Moneyites.com

Nifty50:- The Nifty50 index bullish trend may resume rally above the crucial resistance level of 11883 for the upside of 11983-12100-12240. On the contrary, it has support at 11660-11550-11440 to the downside.

The options data suggest Nifty may find strong resistance at 12000 levels while it has strong support at 11500 levels.

Put to Call ratio stands at 0.99.

The Indian volatility index VIX ended up by 7.72% to 27.63.

On an immediate basis, the index is in positive momentum and trading in a small range. The trading range resistance placed at 11760 while support placed at 11680.

Well, it will be interesting to watch, that today’s range bound movement will act as a base for the upside rally or form a base for small bearish flag pattern.

The Lok Sabha Election 2019 result scheduled to announce tomorrow may set the tone for the market.

Moneyites.com recommends stay cautious in the market and Buy low near the support level and sell high at the resistance level with strict stop loss will be a profitable move for tomorrow. As volatility has an upper hand on the market and market to take direction from the counting of the votes.

 

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The Recent Correction Rally in Nifty50, Is a Great Buying Opportunity?

Moneyites May 14, 2019 No Comments

Summary: – Today, The Indian benchmark index Nifty50 closed in the green after adding 73 points to 11222 after 9 days of straight fall. The index opens on a flat note and trading with negative biases in the first half. But in the second half, the index rallies from the day low of 11108.30 to the day high of 11294.75. The market breadth is positive with 34 shares trading positive for every 16 shares trading in the red.

The Recent Correction Rally in Nifty50, Is a Great Buying Opportunity?

Here We are giving some of the supportive facts for the above statement.

1)The recent bullish rally that we have in Nifty50 starts from 26 Oct 2018 to 18 April 2019 of 1852 point has 38.2% retracement level at 11146 and 50% retracement level at 10928.

2)In addition to this, The six-month bullish rally has a support line again finding support near the level of 11000.

3)The recent correction rally has brought down the factor of overbought from the market.

4)Again 11000 has a psychological level will act as a support in the short run.

5)Option Data also suggest 11000 strong support for May series.

6)US-China Trade War:- China retaliates after The US imposed increased tariffs on Chinese goods worth $200 Billion may call for a Truce in the short run. As the two worlds, biggest economies have a time of the month to sign the deal.

7)On the domestic ground, The Biggest event for the financial market is the Lok Sabha election. The result for the election 2019 is scheduled to announce on 23rd May 2019. The Ruling Party has a good chance to form the government for the second time. In addition to this,  PM Modi led BJP govt strong retaliation to Pakistan on Pulwama Attack further boost the chance in the ongoing election.

Some bounce back can be seen from the psychological level of 11000 but The Nifty50 index enters the positive zone only if decisively breached and hold the level of 11370 on closing basis.

Nifty50 Daily Chart Moneyites.com

Nifty50 Resistance Level of 11250-11295-11340-11370

Nifty50 Support Level of 11190-11150-11110-11070.

Bottom line:- Buying dips around 11020-11120 with a stop loss of below 10920 for the target of 11500-11700 can be a profitable move in a short time. Below the support level of 10920, Nifty50 may show some more correction to the level of 10780-10660.

 

 

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Nifty50 Breaches the Trading Range, Fresh Selling to Drag it Further.

Moneyites May 8, 2019 No Comments

The Indian benchmark index NSE Nifty50 drops another 100 points today to 11497, after two days of the US President Donald Trump statement of raising tariffs on Chinese goods of worth $200 Billion from 10 to 25% form immediate effect.

The global market around the globe took the U-turn and trading in red after the US-China trade tension.

Nifty50:-Technically Nifty50 completed the Head and Shoulder pattern and closed below the support line in today trading tension. The Nifty index opened gap up but surrendered all the gains and closed near the days low.

The Nifty index formed a long bearish candle and large volume favours more downside in the coming time. The index crucial support of 11549 will now act as a resistance and holding below this level, Nifty may target downside to the level of  11460-11390-11320.

For now, bulls are resting above the level of 11549 above that it may test 11620-11670-11740 to the higher side.

The trade tension news may add fuel to the fire and add fresh selling in the market. Moneyites.com recommends selling at the current level and add further on rising till 11550 with stop loss above 11660.

 

H&S Pattern in Nifty50

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Nifty50 Locked in Range, Wait For Directional Trade.

Moneyites May 3, 2019 No Comments

The Indian benchmark index Nifty50 trading 20 points up at 11745. The Nifty50 index is in positive trend and keeps trading in a sideways range of 11540-11860 from the last five weekly trading session.

The Nifty50 index locked in the trading range of 320 points. The level of 11860 will act as a resistance in the coming time and above this level, fresh buying may be seen in it. The main index if fails to hold this level may test 11650-11540 to the downside.

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Nifty50 sell on high, Resistance placed at 11820.

Moneyites April 30, 2019 No Comments

Market Summary:- The Indian benchmark index NSE Nifty 50 closed higher 112 points to 11754 on the last trading session of the week.  The Nifty index has opened gap up around 60 points in the early trade and keeps on holding the gain thereafter to capitalise in the second half. On the sector front, Base metals index is the biggest gainer rose 1.86%, whereas the Auto sector hammered most down by 1.10%.

On the Weekly chart, The index remains flat, forms Doji candlestick pattern sign neutral in the week ahead.

Nifty 50:- The Nifty 50 index form a strong bullish candle and closed near the day high with the positive note. The index has nearest resistance at 11790-11820 level in the week ahead, holding above this level of 11820 only it may see fresh buying.

Whereas fails to hold the level of 11750  it may test 11720 and below this, it may correct down to 11690-11660 in the short run.

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Top Buy and Sell Intraday Trading Stocks

Moneyites November 1, 2018 No Comments

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.

Stocks Recommendations:-

BUY JSWSTEEL TGT 354 with Stop Loss 336.
BUY HINDALCO TGT 237 with stop loss 225.
BUY MARUTI TGT 6900 with stop loss 6500.
BUY RELCAPITAL TGT 260 with Stop Loss 240.

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

Moneyites October 20, 2018 No Comments

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.

Moneyites October 1, 2018 No Comments

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.

Moneyites September 26, 2018 No Comments

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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