Bulls May Ride Nifty To 9500-9600 levels In Short-Term.

Moneyites May 27, 2020 No Comments

Nifty50:-

In a contrarian view on Nifty50, The benchmark index may trend higher to the levels of 9500-9600 levels or even 10000 if it manages to hold above the level of 8800 on a closing basis. The index has crucial resistance at 9270 levels and takes off this level in a convincing style may open for more upside in the coming time. The index found multiple support at the level of 8800 which act as a downside trigger in the coming time.

“Trading is more about managing and mitigating risk not just taking the risk”.

Some reasons to support the above statements are:-

1 The first reason for going to this trade is the favourable Risk to Reward ratio of 1:3 on minimum and 1:5 on the higher side.

2 The opening of the economy may have a positive optimism to support the price action to move head higher in the short run.

3 Even after the announcement of negative growth rate by RBI in a second emergency move, the price is still holding support at 8800.

4 The price violated the neckline of the Head and Shoulder pattern highlighted in green found support at the level of 8800.

5 The price formed a descending triangle, it is a bearish continuation pattern. It is highlighted from the blue dash line found support at the level of 8800.

Nifty 50

Bank Nifty:-

The Banking index who has relatively corrected more than the nifty index is trading with the weakness. In the previous trading session, the index opens gap positive and holds some gains to close in the green despite Nifty50 index close in the red with the nominal losses. Technically, the banking index seems to place bottom at the level of 17000 and may due for a bounce back.

The violation of the resistance line of a bullish wedge pattern may take bank nifty to the level of 18200-18600 in the nearest term.

Bank Nifty

Dow Jones Industrial Average:-

The Global Markets are showing positive optimism on the reopening of the economies. The Dow future opens on a strong positive note on Tuesday and in addition to this, It has a breakout from the inverted Head and Shoulder pattern. It is a bullish continuation pattern signals of continue uptrend and it may rally another 4-6% from the current levels.

Dow Jones Future

Markets:- How to Trade Nifty on Thursday?

Moneyites May 21, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +187.45 points or +2.11% to close at 9066.55. The index opens gap positive and keeps holding the early gains in the first halves and later its breaches the trading range to extend rally further in the second halves. In today’s session too, the index broke out the level of 892o and hit both the target of 8975-9050 as mentioned in the report and closed above them with positive biases.

Day Trading:- The Nifty index form an aggressive bullish candle and closed near the day high with positive biases. The bulls are in command and if manage to hold above 8950 on a closing basis we can see a rally to continue in the short run. The intraday trading strategy is to buy on dips on Nifty future and a call option of 9200 strike price for next week can be initiated for the given below targets.

As our levels decode the daily market movements in simple support and resistance levels with high accuracy. So we recommend keeping the below levels at the back of your mind before going for the intraday trading.

Nifty Support and Resistance Level:- The index has immediate resistance at 9110 above this it may retest the level of 9170-9220 to the upside. Whereas below the level of 9030 it is looking weak and may retest the support level of 8950-8900 to the downside.

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Nifty Tips

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

Markets:- How to Trade Nifty on Monday?

Moneyites April 20, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 had shown a strong gap up opening of 330 points in the morning trade but soon corrects down on account of gap filling and marks the day low of 9091.35. The Nifty index then pulls back from the day low, as bulls took the charge and finally added 273.95 points to close at 9266 in red by the day end.

Volatility index– The VIX drops by -7.60% to close at 42.59 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 16,116 in India and the death toll reached to 529 by Sunday evening, Whereas over 2.38 Million people infected and 1,65,636 deaths reported worldwide from COVID-19

Technically, The Nifty index is heading higher and if manages to hold above the level of 9400, it may show more upside to the level of 9800-9900 in the coming time. The bulls are in charge as the index is already up around 23% from the low 7511 and if manages to hold above the support level of 8900-8500, the rally to continue.

Nifty Support and Resistance Level:- The index has immediate resistance at 9320 above this it may test the level of 9390-9450 to the upside. Whereas it has nearest support at 9220 below this it may drop to the level of 9115-9040 to the downside.

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Nifty

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

Markets:- How to Trade Nifty on Thursday?

Moneyites April 16, 2020 No Comments

Nifty Tips:- The Indian benchmark index Nifty50 ended in red, down by -68.55 points or -0.76% to 8925.30 on Wednesday trading session. The Nifty index opens gap positive 200+ points in the morning trade but sharply reversed and marks day’s worst level of 8874.10 before the final settlement.

Volatility index– The VIX  drops by -3.35% to close at 49.74 in intraday trade.

Coronavirus:- The number of novel coronavirus cases increased to 11,933 in India and the death toll reached to 392 by Wednesday evening, Whereas 2.0 Million people infected and 1,28,000 deaths reported worldwide from COVID-19

Technically, The index forms a bearish engulfing candlestick pattern on the daily chart signs weakness to continue. The index gives a false breakout above the resistance level of 9200 and it is now lingering at the support level of 8900.

The index has immediate resistance at 8960 above this it may retest the level of 9030-9110 to the upside. Whereas it has nearest support at 8900 below this it may drop to the level of 8800-8695 to the downside.

For more information like this on stocks and indices before the market opens follow us.

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Nifty Tips

Also Read:- Day Trading- MRF

Markets:- How to Trade Bank Nifty on Tuesday?

Moneyites April 7, 2020 No Comments

Bank Nifty:-  The banking index shut shop at 17249.30 after dropping by -959 points or -5.27% on last trading session of the week. The banking index opens positive but soon resume sell-off and closed near the day low.

Coronavirus:- The number of novel coronavirus cases increased to 4,281 in India and the death toll reached to 111.

The banking index has corrected almost 50% from its peak and may continue to see bumpy roads ahead

1) As the uncertainty over the coronavirus is not over yet.

2) The ongoing issues with banks and NBFC are the two main reasons.

Some other reasons will also impact normal trading on the market are lack of volumes, Higher trading margins, Higher premium for options, ban on the short- sell and last but not the least is volatility.

The index has immediate support at 16700 below that it may continue to slide to the level of 16100-15700 to the downside whereas it has immediate resistance at 17,700 above that it may test the levels of 18200-18900 to the upside.

For more information like this on stocks and indices before the market opens follow us.

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Bank Nifty

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

Markets:- How to Trade Nifty50 on Friday?

Moneyites April 3, 2020 No Comments

Nifty Tips:- The Indian benchmark index Nifty50 drops by -4% or -343.95 points to 8253.80 on Wednesday trading session. The Nifty index opens flat but global theme of selling in markets drags nifty down.  The index broke down its nearest support of 8515 and below that the next support levels of 8420-8260 touched as mentioned in the last report.

The volatility index ( VIX ) drops by -6.76% to close at 60.05 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 2,069 in India and the death toll reached to 53, Whereas 9,37,000  people infected and 47,000 deaths reported worldwide from COVID-19

Technically, The Nifty index forms an aggressive bearish candle in the last trading session. In the current week,  We have also witnessed index trading in a range with the negative biases. The index lingering at the support zone breaking of this may continue to show more downside in the coming time.

The index has immediate support at 8160 below that it may continue to slide to the level of 7980-7760 to the downside whereas it has immediate resistance at 8360 above that it may test the levels of 8500-8670 in the short run.

For more information like this on stocks and indices before the market opens follow us.

Send your queries on [email protected]

Nifty Tips

 

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

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.

For more information like this on stocks and indices before the market opens follow us.

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Nifty Tips

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

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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Keep like & Sharing the article and also, follow Us on Telegram at stocks2trade telegram channel for all live market updates.

Nifty Tips

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

 

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.

For all day to day News, Data and live development on Markets Follow us.

Keep like & Sharing the article and also, follow Us on Telegram at stocks2trade telegram channel for all live market updates.

Nifty Tips

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

Markets:- How to Trade Nifty50 on Tuesday?

Moneyites March 16, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 drops by 757.80 points or -7.61%  to 9197.40 in intraday trade. The index opens gap down and continues the correction rally to the day worst level of 9055 before finally settled.

Coronavirus:- The number of coronavirus cases increased to 114 in India and the death toll reached to 3, Whereas about 1.53 lac people infected worldwide and more than 5800 deaths reported from COVID-19

The US Fed Slashed in key interest rate by 1% to almost bringing down to near zero in order to boost the economy.

The volatility index gains 14.38% to closed at 58.88 in intraday tradeThe index is trading at an all-time high level.

The index trading with the negative biases and closed on weak notes. It may continue to trend towards the south in the coming time. The index has nearest support at 9100 below that it may test 8825-8570 to the downside whereas it has immediate resistance at 9450 above that it may trend up to the levels of 9790-10140.

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

 

Nifty Tips

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