27 January 2017

NIFTY NEXT WEEK PREDICATION FOR 30 JAN TO 03 FEB 2017

NIFTY CALL GIVEN IN LAST POST ACHIEVED ALL THE TGTS ROCKING NIFTY CALL
WEEKLY RESISTANCE FOR NIFTY: 8602, 8692, 8739, 8785
PIVOT POINT: 8512
WEEKLY SUPPORT FOR NIFTY :  8466,8419,8329,8239
WEEKLY CHAT FOR NIFTY



















DAILY RESISTANCE FOR NIFTY: 8700, 8727, 8755,8784
PIVOT POINT: 8670
DAILY SUPPORT FOR NIFTY :  8656, 8635, 8613,8564

Nifty posts biggest weekly gain in 8 months

Sensex opened the week at 27204, made a high of 27961, low of 27015 and closed the week at 27868. Thus it closed the week with a gain of 834points. At the same time the Nifty opened the week at 8369, made a high of 8698, low of 8366and closed the week at 8672.Thus it closed the week with a gain of 271 points.Nifty settled the day on a higher note, extending gains for the fourth day straight, as investors remain optimistic ahead of the Union Budget next week. Better than expected corporate earnings also aided the sentiment.Nifty hovered around the all-crucial 8650 level before closing below it.

Nifty Headed Towards 9000 Levels, Go Long At Every Dip For Now

Indian Stock Market is still in positive zone. Now, Nifty is headed towards 9000 levels. We would see some profit booking that would be temporary in nature. 8510 is a monthly reversal levels. Since we have 2 trading sessions left for the JAN month, hence if Nifty closes above 8510 levels in next 2 trading session then we would see levels of 9000 breaching in the month of February itself as Nifty would see monthly reversal from the downtrend. FIIs have seen a good buying in cash and future segment in last trading session. Friday, a new F&O contract was started and FII seen a stable buying today also, then there would be no major resistance for Nifty before 9000 levels. Market has consolidated for almost 2 years and this year can be a major breakout level.
If Union Budget is neutral or positive, we may see sharp positive rally that would stop after making new highs. Banking sector would be a major driver for Nifty. But there is a small caution of monthly levels for Nifty. Nifty if closed below 8510 levels in next 2 trading sessions then we would see a sharp fall after Union Budget. After a sharp positive run for last couple of days, we expect some profit booking near resistances but traders can continue to hold long positions and buy at every dip in the market for now.
TECHNICALLY SPEAKING.
The support for the Nifty is 8640-8600-8550-8510-8480-8430-8390-8350 and the resistance to the up move is at 8698-8730-8765-8800-8830-8890-8950-9000 levels MACD and Price ROC are both positive and continue in buy mode. RSI (70) suggests bearish momentum. This week, the indices tested the short term average of 22dma Nifty – 8333 close above it. the indices continue to remain above  the medium term average of 55dma Nifty – 8260 but above the long term average of 200dma Nifty –7600. Thus the trend in the short term and medium term timeframe remains bullish whereas the trend in the long term timeframe still continues to remain bullish.
Nifty  is below the psychological 8,700-Mark. Whether the nifty breaks above 8,700 or not will decide the move for the rest of the sessions. A strong break above 8,700 will see the up-move extending to 8,730 or 8,760. Short-term traders with high risk appetite can go long on a break above 8,700. Stop-loss can be placed at 8,685 for the target of 8,730.The inability to break above 8,700 can trigger a pull-back move to 8,650 or 8,640. In such a scenario the contract may remain range bound between 8,640 and 8,700 for a few sessions. But a strong break below 8,640, which looks less probable at the moment, may drag the nifty lower to 8,600.

11 comments:

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  3. this is crucial week as budget is coming ....short position in nifty future can be taken???pls share ur view...

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  4. karamveer shikhavat28 January 2017 at 12:36

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