Markets:- How to Trade Nifty on Thursday?

Moneyites April 22, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 advance 205.85 points or +2.29% to close at 9187.30. The Nifty index opens gap up by 45 points but reveres back to mark the day low of  8946 before closed in green. The two positive events 1) Additional Relief package from US govt and 2) FB investment plan of $5.7 Billion in Reliance Jio enforce the bulls to then take the charge and after breaching the resistance level of 9040 it further touch the daily level of 9105- 9190 as mentioned in the last report.

Volatility index– The VIX dropped by -5.25% to close at 42.82 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 20,471 in India and the death toll reached to 652 by Tuesday evening, Whereas over 2.5 Million people infected and more than 1,78,800 deaths reported worldwide from COVID-19

Technically, The price action bounced back from the support line and forms a bullish candle. The Nifty index continued to trade in a rising wedge pattern and if manages to hold above the support line, it may show more upside in the coming time.

Nifty Support and Resistance Level:- The index has immediate resistance at 9230 above this it may test the level of 9320-9430 to the upside. Whereas it has nearest support at 9090 below this it may drop to the level of 9030-8930 to the downside.

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

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.

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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.

 

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.

 

 

 

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

Moneyites May 5, 2018 No Comments

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.

Weekly Report:- Selling Pressure To Mount Below 10650 Level In Nifty.

Moneyites April 21, 2018 No Comments

Market Summary:- Indian benchmark index Nifty 50 Closed flat at 10564 after losing 0.01% in Friday trading session. The Nifty index opens flat in the morning trade and keeps trading in a narrow range. In the intraday trading session, the index hit an intraday high and low of 10582 and 10527 respectively before finally settled to close flat.

On Weekly time frame, The index maintained the positive momentum and added less than a percent.

Moneyites.comNifty 50:- On the daily chart, The index form back to back Doji candle, sign indecisiveness for a while. The index trending upward and keeping the positive momentum alive since the trend reversal on 23 March. The index immediate resistance at 10600 level on upside thereafter 10640-10700 level will act as a next resistance in the coming time.

The index rallied more than 600 points since its trend reversal and now trading near the resistance zone. The index hold immediate support at 10495 level below that 10450-10400 can be seen in the coming time.

Derivative data suggesting 10400-10700 seems to be an important range for the market in the coming week.

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Bank Nifty:- The banking index failed to hold 25000 level and closed with weakness. The index has immediate support at 24800 level below that it may correct down to 24640-24480 level and it has resistance at 25130 level above that it may trend up to 25240-25420 level in the coming week.

 

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

Moneyites April 4, 2018 No Comments

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.

Inverted Head & Shoulders Pattern formation In Nifty50 is Waiting for Confirmation.

Moneyites April 2, 2018 No Comments

MARKET SUMMARY: – The Benchmark index Nifty50 closed at 10211 after adding almost a percent on Monday trade.  The benchmark index capitalized on Previous Week gains after opening gap up in the morning trade and after filling the gap to the downside the Nifty50 index keeping gaining throughout the day.

As mentioned in the previous report, Nifty50 seems to retest the resistance level of 10230-350 in this week and exactly same opening and trend we witnessed today. So if Nifty surpasses 10230 in the coming days 10350 will be the next target for this week.

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Nifty 50 10211.80:- On Charts, The Nifty50 index trending downside in lower tops and lower bottoms formation. Currently, the Nifty50 index forms a small Inverted Head and Shoulders pattern whose resistance stands at the downward sloping trendline near 10230 level.

The Nifty50 index has crucial resistance at 10230 level above this Nifty50 may target 10280-350 for upside in the coming time. If Nifty index seems to flirt at this level for quite some time then some correction to the level 10175 and 10140 can be seen.

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BOTTOM LINE:- Trading strategy for Nifty traders, Add Fresh long Position above 10230 in Nifty

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Nifty50 Below 10k On Global Selloff Triggered By Trade War.

Moneyites March 24, 2018 No Comments

MARKET SUMMARY: – Nifty50 Extended losses in Friday trade to -1.15% to close at 9998. Nifty50 opens gap down in initial trade taking cues from the global peers on trade war fears and later retreats some losses but unable to hold the psychological mark of 10000.

On WoW basis, The Benchmark index slips -1.93% to 9998 and closed below the five months low level amid Trade War Fears.

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In this past week report, I mentioned that this week will set the tone of market direction in the coming time and same has happened and as an addition, not only interest rate but trade war also attribute in setting the tone for the market.

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TECHNICAL COMMENTS: – On the daily chart, The Nifty50 price action broke below the support zone near the 200 Days SMA on Monday trade and a short pullback on Tuesday, Wednesday and Thursday trade tried to retest the resistance level but failed to hold above it and on Friday a gap down opening and closing below 10000 level give further confirmation of more correction in the short run.

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Currently, Nifty50 hold immediate support at 9950 level and a breakdown may show more correction to 9910-9880-9850-9820 in the downside and vice-versa Nifty50 has immediate resistance at 10045-10070-10110-10140 on the higher side.

BOTTOM LINE:- Trading strategy for Nifty traders,  Selling pressure is existing on a higher level so sell on high and add more position when 9950 is breached and hold.

Weekly Report:- Power Pack Week Full of Market Events.

Moneyites March 17, 2018 No Comments

MARKET SUMMARY: – Indian benchmark index Nifty50 slips -1.59% to 10195 on last trading session of the week. Nifty50 opens gap down 15 points to 10345 keeping open high almost same for the day and widen losses thereafter as the day proceeds.

With respect to the previous week report, I wrote about the gap up opening, short-term pull back and last but not the least that bulls are resting above 10550 in the short term fit perfectly in this week.

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On WoW basis, Nifty50 made weekly high and low of 10470 and 10180 respectively.

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TECHNICAL COMMENTS: –On the daily chart, Nifty50 index forms a long bearish candle and erased around 50% of the last week gains. The Nifty50 index closed near the day low with weakness and keeps trending below the SMA of 20 days.

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Nifty50 has immediate support at 10100-10000 on the downside, On the contrary, 10340-10420 will act as a good resistance on the higher side.

Not negative on the market till 10000 is breached with conviction and maintained.

For me, Bulls are still resting above 10550 level and a breach of the same in fashion will further decide the upside direction in the coming time.

Interest rate policy by Federal Reserve, Bank of England and CBR scheduled to be on 21,22 and 23 of the coming week will set the market tone in the short run.

BOTTOM LINE:- Trading strategy for Nifty traders, Market may trade volatile. keep eye on interest rate policy as it is to set the market tone in the short run.