NIFTY CHART & NIFTY WEEKLY REPORT UPCOMING WEEK FOR MONDAY 07 DEC 2015

DAILY RESISTANCE FOR NIFTY: 7847, 7874, 7920, 7966

PIVOT POINT: 7828

DAILY SUPPORT FOR NIFTY :  7801, 7782, 7736,7690

DAILY CHART FOR NIFTY

WEEKLY RESISTANCE FOR NIFTY: 7946, 8073 ,8168,8263

PIVOT POINT: 7878

WEEKLY SUPPORT FOR NIFTY :  7751, 7711, 7683,7615

WEEKLY CHAT FOR NIFTY

TECHNICAL ANALYSIS FOR NIFTY FUTURE AS PER TECHNICAL,

Sensex opened the week at 26142, made a high of 26256, low of 25623 and closed the week at 25638. Thus it closed the week with a loss of 490 points. At the same time the Nifty opened the week at 7936, made a high of 7979, low of 7775 and closed the week at 7781. Thus the Nifty closed the week with a loss of 161 points. We had mentioned in the last week’s closing report that Nifty, Sensex were headed higher and that as long as Nifty stays above 7,800, it will be bullish. The Indian stock markets failed to stay above the threshold level of 7,800 and the major indices have been falling for most of the week. Friday was no exception and the Nifty fell by 1.05% to close at 7,781.90. Weekly losses of the major indices have been in the range of 2%. 

NIFTY FUTURE PREDICTION FOR MONDAY 04-AUGUST-2014

On the week ended Friday, the Sensex came under intense selling pressure in the last 1 hour of trade, falling as much as 435 points, which also marked its biggest single-day fall since July 8. Nifty future also witnessed a downfall at the time of closing. After a firm opening at 7686 level nifty future made a high of 7744 and in the mid-session the market was slumped down at 7611 due to losses in realty, banks, pharma and auto stocks and closed at 7624. Now it is just beginning of the august series and Monday will be the second trading session of august series, so for Monday we are likely to see a strong trading session, recovery is expected in the market. In fact, the end-of day bar chart pattern seems to suggest still there are enough buyers to support the nifty close to the 7000-mark for the Nifty future thus, it would not be that easy for the bears to push the market down at one go. 

NIFTY FUTURE OUTLOOK FOR THE WEEK WAS & THE WEEK AHEAD

In this whole week bullish rally was witnessed there in the market. The market gained in four out of five trading sessions in the week just gone by. The rally has been fierce with foreign institutional investors infusing nearly $23 billion in the Indian markets so far in 2014, mainly betting on the reform agenda by the new government. 

• The market registered small losses after moving in a narrow range during the trading session on Monday, 14 July. The Sensex shed 17 points to settle at 25,006.
• The market snapped five-day losing streak on Tuesday, Sensex garnered 221 points to settle at 25,228 on Tuesday.
• On Wednesday 16 July a decent growth in India's merchandise exports in June 2014 triggered a rally on the domestic bourses . The Sensex garnered 321 points to settle at 25,549 on Wednesday.
• The market eked out small gains after moving in a narrow range in intraday trade on Thursday, 17 July. The Sensex garnered 11 points to settle at 25,561 on Thursday.
• The market edged higher in choppy session of trade on Friday, 18 July. The Sensex was up 80 points.