NIFTY TECHNICAL REPORT FOR NEXT WEEK 08-06 -2015 & DAILY&WEEKLY CHART FOR NIFTY

DAILY RESISTANCE: 8173, 8234, 8331,8428 
DAILY PIVOT POINT: 8137 
DAILY SUPPORT:  8076, 8040, 7943,7846

DAILY CHART:

WEEKLY RESISTANCE: 8398, 8655, 8884,9084
WEEKLY PIVOT POINT: 8226 
WEEKLY SUPPORT:  7969, 7797, 7368,6939

WEEKLY CHART:

Technical analysis for Nifty future 
In last previous sessions, as we have predicted that in Nifty BEARS ARE ALSO CAN BE ACTIVE BELOW 8237 BEARS HAVE TARGET AT 8100. And nifty was achieved target of 8100.Nifty was again drag back indices to 200 EMA levels i.e below 8200 odd levels. So nifty also closed at 8114 and Nifty made low of 8101 intraday trade on Friday.  

Technically Nifty future is looking bullish on long term weekly charts, Usually, 200-DMA represents strong support or resistance for the index and; Nifty already broken the 200-day moving average on 2 june of 8330. and trading below that level post RBI outcome. so the markets was remain weak and made low of 8100, now If nifty breach 200 DMA as a resistance level of 8234 on Monday then we can see 8300, which could be the next support, now it may trade in range of 8500 and 8600 in near term while with the breaks of its support mark of 8234 .This Nifty weekly Log chart shows a pronounced uptrend within the blue channel trend lines. Still You can buy nifty positional for a target of 8600 with a stop loss of 8000.

NIFTY OUTLOOK FOR FRIDAY 22-MAY-2015

“BUY WIPRO ABOVE 566 TGT 573 SL 560”           
“SELL IDEA BELOW 171 TGT 166 SL 175” 

The stock markets seem to have entered a consolidation mode, keenly waiting the June 2 monetary policy review by the RBI, which is widely expected to ease lending rates in the backdrop of weak factory output growth and a benign inflation scenario. The benchmark indices opened the session with gains, but slipped into the red soon. Nifty cutting losses to claw its way back past the crucial 8400 levels. Forecasts of a timely monsoon have also strengthened hopes that the central bank would cut rate on June 2 to spur investment and consumption.In absence of any major cues, market consolidated in a narrow range on Thursday and closed almost unchanged.The Sensex closes 0.10%, or 27 points, lower at 27809, while the Nifty closes flat at 8421 points.

NIFTY OUTLOOK FOR THURSDAY 21-AUGUST-2014

Today market was completely direction less. After making new high of level 7900 today market slipped into the red. At the time of closing market touched 7882, which was below from its crucial and psychological level of 7900.Nifty neither move upside nor towards down side, just oscillating near the levels of 7885-7915 … today nifty future started at 7909 made a high of 7915 and low of 7881, and closed at 7882, total 34 points nifty future moved throughout the day..