Showing posts with label nifty option tips. Show all posts
Showing posts with label nifty option tips. Show all posts

Tuesday, March 5, 2024

TOP LOSER PREDICTED A DAY BEFORE

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Monday, March 4, 2024

PROFIT BOOKED IN ONGC OPTION STRATEGY

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INVESTMENT OF 18095


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Monday, July 25, 2022

NIFTY OUTLOOK FOR 26 JULY 2022

The Nifty50 fell for the first time in the last seven consecutive sessions on 25 July 2022 ,week begging Monday .Oscillators like relative strength index and Stochastic also showed a downward move, indicating that the sentiments may have turned negative ahead of the Fed meeting. All these aspects indicate that this can be a profit taking after a six-day run-up we saw till last Friday, and traders seem to be cautious ahead of the US Federal Reserve's July policy meeting. As far as it gets support at 16,520 levels and around the big gap area of 16,360-16,490 levels created in the previous week, the positive trend seems to be intact. The selling in auto, pharma, select banks, FMCG and financial services stocks pulled the market down. The broader markets were also under pressure, largely may be due to profit taking as the Nifty Midcap 100 index was down 0.09 %  and the Small cap 100 index declined 0.6 percent on weak market breadth. About three shares declined for every two shares rising on the NSE. The Nifty50 opened lower at 16,663 and remained in negative terrain throughout the session. It touched an intraday high of 16,706 and low of 16,564, before closing the day at 16,631, down 88  points.

 Resistance: 16600, 16650, 16700

Support: 16500, 16450, 16400 

Friday, February 11, 2022

NIFTY OUTLOOK & TRADING FOR 14 FEB TO 18 FEB 2022

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WEEKLY RESISTANCE FOR NIFTY: 17500, 17700, 18000

PIVOT POINT: 17300

WEEKLY SUPPORT FOR NIFTY:  17000, 16800, 16600

WEEKLY CHART FOR NIFTY


DAILY RESISTANCE FOR NIFTY: 17400, 17500, 17600

PIVOT POINT: 17300

DAILY SUPPORT FOR NIFTY:  17200, 17100, 17000

DAILY CHART FOR NIFTY









Our domestic market started the week on a soft note amid mixed Asian bourses and the sell-off deepened with no sign of a recovery in the benchmark index. A strong sell-off among market participants also dampened sentiment. Finally, Nifty ended the session on the downside, losing about 1.73% for the third straight session to settle at the 17214 level. On Tuesday, the Indian stock market saw a strong whiplash action, with a V-shaped recovery paring the benchmark index's initial losses and putting an end to the selling frenzy. Although Nifty ended the day subdued with a sheer 0.15% gain at 17239, indecisiveness was felt among market participants as heightened volatility mounted and the index hovered near its key support zone. The Indian stock market started with a gap up on Wednesday and remained range bound throughout the day. The benchmark index Nifty50 saw follow-up buying on a strong finish to end the day higher at 17463, gaining 1.14%. The broad-based buying has spread some bullish sentiment across the stock markets. On Thursday, the domestic market rose after the RBI's bi-monthly monetary policy announcement, which met street expectations and maintained the status quo. Strong bullish sentiment spread across sectors, propelling the benchmark index Nifty50 higher to end the day on a firm note. The index is up almost a percent and closed a little above the 17600 mark. Sensex and Nifty were weak in trading on Friday, each falling over 1% on weak global cues. The higher-than-expected US inflation data unsettled investors amid fears of an aggressive rate hike by the US Federal Reserve. US inflation rose 7.5%, a four-decade high, prompting hawkish comments from a Fed official. In Asia, stocks in Shanghai and Japan rose while South Korea, Hong Kong and Australia fell. Sensex fell 773 points to close at 58152; Nifty lost 260 points to finish at 17345. IndusInd Bank, Tata Steel and NTPC were the only top performers while TechM was the top loser.

NIFTY: A STRONG SUPPORT WILL BE @ 17000; STRONG RESISTANCE LEVEL SEEN @ 17800

The benchmark index slipped below the budget day's low ahead of the RBI monetary policy outcome this week, suggesting a sign of caution in the market. Selective blue chips saw a sharp correction, with the bears shrugging off all technical supports. In terms of levels, the 17000 level is the key support for the benchmark, followed by the 16800 swing low, while a break below it could cause major concerns from investors. On the upside, the 50 percent Fibonacci is expected to act as an immediate resistance zone around 17600, followed by 17800 in the near future.

TECHNICALLY SPEAKING

Nifty found resistance around 17635 and slid lower towards the gap in the daily timeframe. A red-body candlestick is visible on the daily timeframe. Once again, the index slipped below the 50 EMA. The trend looks sideways to negative in the short term. On the lower end, support is visible at 17200-17000. On the other hand, Nifty needs to break above 17650 to change the current downtrend.

Friday, January 29, 2021

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 1 FEB TO 5 FEB 2021

WEEKLY RESISTANCE FOR NIFTY: 14000, 14500,15000

PIVOT POINT: 13500

WEEKLY SUPPORT FOR NIFTY:  13000, 12500, 12000

WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 13800, 13900, 14000

PIVOT POINT: 13600

DAILY SUPPORT FOR NIFTY:  13500, 13400, 13200

DAILY CHART FOR NIFTY


Last Friday’s weakness was carried over to Monday as well and hence, Nifty witnessed a decent corrective move on the opening day to test sub-14300 levels. However, the bulls were not ready to give up easily as they came back strong on the subsequent two sessions on the back of overall global optimism. In the process, almost all major sectoral indices registered their new record highs. Everything looked hunky dory until the sudden profit booking took place in the last hour of the weekly expiry. This sell off went on to intensify on the last day of the week to erase all weekly gains to conclude tad below the 14400 mark. Monday morning, the global set up was just ideal to have a good head start for the final week of the January month. However, within few minutes of trade, market skidded sharply to not only pare down all gains but also entered a negative territory. For the remaining few hours, Nifty gyrated in a range with higher volatility and eventually managed to extend losses in last couple of hours to close tad below the 14250 mark. Our  markets  were  closed  on  Tuesday  on  account  of the Republic  Day; but the  global  peers  had  couple of weak  sessions,  which  we had  to  digest  at  the  opening  Wednesday. Surprisingly, market opened on a flat note, taking cues from the positive Dow futures yesterday  morning.  However,  this  turned  out to  be  a  formality  as the  selling  resumed  right  from  the  word  go  to  slide  back  to  the negative territory. As the day progressed, indices kept on breaching all intraday supports one after another.  Eventually, the Nifty concluded with  almost  couple of  percent  losses to  mark close below 14000 for the first time in the new year.  We had a weak session on to snap all monthly gains and eventually closed below 14000 for the first time in the New Year. Since last 3 4 sessions, our markets looked nervous but it wasn’t due to the global markets. Previous night for the first time, US and European markets had a meaningful. The Economic Survey 2021, released on January 29 ahead of Budget 2021, has called for adequate capitalization of public sector banks. If capital is not provided, lenders may resort to risk-shifting, it said. In turn, impacting the real economic recovery. The markets were successful in breaking 13,700 and has closed below it too. Investors lightened their portfolios and decided to sit on cash on Friday as they await Finance Minister Nirmala Sitharaman's third Union Budget presentation due on Monday, February 1. In a sea-saw trade today, stock specific moves swayed markets even as overall mood remained subdued.  As Nifty-50 has rallied more than 90% from the Mar’20 lows, a 10-12% correction, if it comes, could be healthy for the market. Nifty-50 is trading at 23x on one-year Fw PE which factors in most part of the healthy earnings growth likely to come in FY22E. Valuations are stretched by any standard and investors need to be cautious. It is better to avoid riskier bets at this juncture and book profit part profit in Nifty-50 goes closer to 15,000 mark. Risk-averse investors can also look to protect their portfolios by buying PUTs of either Feb/March if Nifty-50 goes near 15,000.

Saturday, December 26, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 28 DEC TO 1 JAN 2021

WEEKLY RESISTANCE FOR NIFTY: 13850, 14000,14200

PIVOT POINT: 13700

WEEKLY SUPPORT FOR NIFTY:  13600, 13400, 13200

WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 13800, 13900, 14000

PIVOT POINT: 13750

DAILY SUPPORT FOR NIFTY:  13700, 13650, 13600

DAILY CHART FOR NIFTY


We threatened the lower end of the range by piercing 13300 on weekly basis but the Nifty was quick to bounce back to close above it 13700. Monday Bears took the charge Indian markets fell sharply today, snapping its recent record-breaking streak. The Sensex ended over 1400 points lower at 45553 after sliding over 2,000 points at day's low. The Nifty ended 3.2% lower at 13328. Tuesday Indian stock market rebound and ended with gains of ~1%, after the sharp decline in the previous session. It opened with an uptick amid mixed global cues and hovered in a range in the first half. However, healthy buying in the IT and pharma majors combined with some recovery in the other sectors helped the market to pare intraday losses and settle around the day’s high as well. Consequently, the Nifty ended around 13466 levels; up by 1%. The markets too witnessed recovery and both the midcap and smallcap index posted decent gains. Market continued to move higher on Wednesday. sensex closed the day’s trade with 46444 while nifty regained 13600 levels. : Domestic equity markets continued scaling higher on Thursday morning. Sensex zoomed to cross 46800 while the Nifty 50 was just above 13700.

NIFTY: A STRONG SUPPORT WILL BE @ 13000; STRONG RESISTANCE LEVEL SEEN @14000

Nifty has to hold above 13500 zones to witness a bullish bias towards life time high of 13750-13777 zones while on the downside major support exists at 13333 and 13131 levels. Overall trend is likely to be with buy on declines strategy. Option traders are suggested to be with positive bias for an up move towards 13700 zones. Buy nearby 13600 Call or Bull Call Ladder Spread.

Trading Range: Expected wider trading range: 13500 to 13700 zones.

TECHNICALLY SPEAKING.

 This has been a short but eventful week with wide gyration in stock prices. After the sharp correction seen on Monday prices have recovered in the last three days. Monthly expiry has also contributed to the higher volatility. Nifty’s closing near the previous week high indicates strong rollovers on the back of healthy FII flows seen this month. We can expect muted FII activity in the next week also due to year end phenomenon but expect activity to pick up sharply from the first week of January. Most probably Nifty should take support at 13000 levels with likely break out above the 14,000 level sometime in January.

Monday, December 21, 2020

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 22 DEC 2020

Bears took the charge Indian markets fell sharply today, snapping its recent record-breaking streak. The Sensex ended over 1400 points lower at 45553 after sliding over 2,000 points at day's low. The Nifty ended 3.2% lower at 13328 with broader markets also seeing a big selloff. The BSE midcap and smallcap indices slumped over 4% each. Though many analysts were expecting a consolidation after the recent upmove, the intensity of today's crash took everyone by surprise. The new variant of the coronavirus in the UK spooked markets as we witnessed intense selling in pivotal throughout afternoon trade. While the Street was bracing for a correction this week after a sharp upmove, the sheer velocity of the fall across broader markets took the bulls by surprise as practically none of the key indices constituents were in the green today.

We threatened the lower end of the range by piercing 13300 on an intraday basis but the Nifty was quick to bounce back to close above it. If the level of 13300 is breached, we can slide down to targets closer to 11250-11200. The resistance on the upside is at 13400.

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Resistance: 13350, 13400, 13450

Support: 13250, 13200, 13150

Friday, December 18, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 21 DEC TO 25 DEC 2020


WEEKLY RESISTANCE FOR NIFTY: 13800, 13900,14000

PIVOT POINT: 13700

WEEKLY SUPPORT FOR NIFTY:  13600, 13500, 13400

WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 13775, 13825, 13875

PIVOT POINT: 13750


The merry run continues across the globe and it’s been nearly one and half months now, markets are just continuing their gravity defying moves. This week, our markets kickstarted the week on a flat note but immediately resumed its upward momentum. For the subsequent two trading sessions, the rally continued and in the process, Nifty kept posting new record highs one after another. The similar sort of one sided move was missing in the latter half of the week as markets saw some volatile swings to test the 13800 mark. Our markets started the week marginally higher following the positive global cues. However, the index consolidated within a range for most part of the day and managed to close with gains of one-third of a percent. Tuesday global markets witnessed some correction and in line with that, Nifty was hinting at a probability of negative opening. However, the indices opened on a flat note and then corrected in the first couple of hours upto 13450 mark. But once again, the intraday day dip got bought into and we then witnessed a smart recovery in the later half to erase all losses and end the day on a flat note. Wednesday the U.S. markets ended with gains of over a percent and the Asian markets too were trading with a positive bias in morning. These positive cues from the global markets led to a gap up opening in Nifty to continue to post new record and end with gains of over 100 points at 13683. Thursday We had a positive start on the indices above the 13700 mark for the first time and it continued its positive bias to end the weekly expiry with gains of about half a percent. Friday market benchmarks  sensex and nifty were trading volatile on Friday. Sensex was hovering around 46900, while Nifty was ruling above 13500.

NIFTY: A STRONG SUPPORT WILL BE @ 13600; STRONG RESISTANCE LEVEL SEEN @14000

The short-term trend of Nifty continues to be rangebound with a positive bias and a similar type of movement is expected in the coming session. The upside target for the Nifty remains around 13,900-14,000 levels, which corresponds to multiple long-term trendline resistance. Immediate support is placed at 13600.

TECHNICALLY SPEAKING.

Nifty managed to close tad above 13750 on Friday with weekly gains of nearly two percent. This week, our markets reached yet another milestone of 13750 with ease and few heavyweight themes did well to guide markets at new record highs. Since we are trading in an uncharted territory, sky's the limit for our market; but in our sense, we have now reached the extreme zone, at least for the current vertical move. With a broader view, 14000 and beyond levels are very much possible, but for a time being; 13500 - 13600 are the extreme levels as per few key Fibonacci ratios. Let's see why these levels are considered important. The 'Golden Ratio' (161%) on the 'Price Extension' of the recent previous up move is placed at current levels. This level coincides with the 200% ‘Price Extension’ of the first up leg from March lows. More importantly, if we connect all important highs from March 2015 on the monthly chart, we can see a 'Multi-year Upward Sloping Trend Line' precisely converging around the same levels. Hence, some cooling off around this crucial junction cannot be ruled out. Yes, we agree to the fact that a strong trend up or down, doesn't necessarily follow any theory. But there is no harm being a bit conservative at times. Hence, since the last 3 - 4 days, we have been continuously advising booking profits in the rally and avoiding aggressive bets overnight. On the daily chart, we can now see a ‘Dragonfly Doji’ pattern and with the last two day’s intraday swings, 13500 has become a crucial support. The moment Nifty slides and sustains below this point (which is possible anytime soon), we would see the market experiencing some decent profit booking towards 13300 – 13000 in days to come.

Thursday, December 17, 2020

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 18 DEC 2020

Bulls continued to march upwards on Thursday with the sensex rising over 200 points amid gains in financial stocks. The Nifty closed at 13740, while the Sensex ended 0.48% higher at 46,890. At its session high, the Sensex was about seven points shy of crossing the 47000 level for the first time. Both the indexes have posted six consecutive weekly gains, boosted by record

Friday, October 23, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 26 OCT TO 30 OCT 2020

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WEEKLY RESISTANCE FOR NIFTY: 12000, 12100,12200

PIVOT POINT: 11900

WEEKLY SUPPORT FOR NIFTY:  11800, 11700, 11600

WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 12000, 12050,12100

PIVOT POINT: 11930

DAILY SUPPORT FOR NIFTY:  11900, 11850, 11800

DAILY CHART FOR NIFTY

The Asian markets were trading with a positive bias on Monday morning which led to an optimistic sentiment and hence, our markets too started the week with a gap up. Nifty then consolidated within a range throughout the day and ended with gains of almost a percent at 11873. On Tuesday Nifty opened on a flat note and moved higher till noon up to 11950. However, the index then gave up the intraday gains and consolidated within a range to end the day tad below 11900. Wednesday our markets started the session with a gap up opening, courtesy to the banking stocks which continued with its positive momentum. The midcaps too joined the upmove and thus, it looked that the index will take out the 12000 mark easily to kick start the next leg of upmove. However, in the later half, the index suddenly nosedived and within no time, Nifty sneaked below 11800 from 12000 mark. But it was not over yet, the index showed a V-shaped recovery in the last hour and ended this highly volatile session well above 11900. The global cues were marginally negative in the Thursday morning and in line with that, Nifty started the session below 11900. The index oscillated within a narrow range throughout the session and ended the weekly expiry day tad below 11900 mark. Friday Sensex gained 127 points to settle at 40686 levels while Nifty ended at 11930, up 34 points. 
NIFTY: A STRONG SUPPORT WILL BE @ 11700; STRONG RESISTANCE LEVEL SEEN @12200
If we observe the chart of the Nifty, it seems to be poised for a breakout from the recent consolidation phase. On looking at the charts, it seems to be a high probability of the index breaking in upward direction, but traders are advised to wait for a confirmation to place aggressive bets in the midcaps. As far as Nifty levels are concerned, 12000-12200 continues to be immediate resistance zone and the next leg of upmove would be seen only on a move beyond the same. So traders are advised to keep a tab on the both the indices as a breakout in both the indices simultaneously should lead to a good upmove in the broader markets. On the flipside, 11700 has become a sacrosanct and if the index breaks that, then it could result into profit booking in the market.
TECHNICALLY SPEAKING
This week’s price action can be divided into two parts where the first half was more of a consolidation with no major movement and the latter one brought some volatility in the market. We managed to clock the psychological mark of 12000 but failed to sustain there. In fact, due to sudden sell off in global markets on Thursday on the fears of a second wave of coronavirus hitting the major European countries, we witnessed a sharp decline in our markets. Fortunately, there was no follow through to this as we saw modest recovery to end the week well above 11700. In the last couple of weeks, we have seen a remarkable recovery in our market after testing the 200-SMA level of 10800. Since the move was extremely swift and markets had a winning streak of 10 straight sessions before Thursday, any uncertainty was likely to trigger profit booking and this is exactly what we have seen. Now, purely looking at charts, this down move should only be interpreted as a pull back towards the recent trend line breakout points. This coincides with the 20-day EMA level of 11600. Hence, all eyes would be on this level in the forthcoming week. However, since the fall has to do with the global uncertainty, it would be important to see how things pan out there and if things worsen, we may see the market correcting further. A close below 11600 would apply brakes on the recent optimism and we may then see some extended correction in the market. Till then there is no reason to worry as we may see markets resuming the strength beyond 11850-11900 to surpass the 12000 mark convincingly. In the week gone by, we witnessed some sectoral shift in the market in the second half. The recent outperforming IT space had seen some decent profit booking along with Reliance; whereas on the other side, the banking which was considered to be a laggard has shown some serious strength to support the market. Hence going ahead, if Nifty has to resume the uptrend, the banking clearly plays a vital role in this. Apart from this, Midcaps are yet to perform and hence, the breakout in this index should bring back some excitement in the traders’ fraternity. 

Friday, October 16, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 19 OCT TO 23 OCT 2020

WEEKLY RESISTANCE FOR NIFTY: 11800, 12000,12200

PIVOT POINT: 11700

WEEKLY SUPPORT FOR NIFTY:  11500, 11300, 11100

WEEKLY CHART FOR NIFTY



















DAILY RESISTANCE FOR NIFTY: 11800, 11900,12000

PIVOT POINT: 11700


Trading for the week started with a good upside gap as indicated by the Nifty early in the morning. Within the first five minutes of trade, Nifty conquered the milestone of 12000, which is the outcome of the stupendous recovery from the March lows in such a short span. In fact, in the last couple of weeks also, we had a remarkable rally after testing the 200-day SMA around 10800. Post the initial hour, the market witnessed some profit booking at higher levels, which was then followed by a consolidation to conclude the day on a flat note. Tuesday morning, global cues were sluggish and hence, we had a flat opening in the absence of any triggers. Subsequently, Nifty vacillated within the narrow band of 11900 – 12000 throughout the remaining part of the session. In fact, the overall movement was so choppy; the market was unable to hold any direction. Eventually, the day ended on a muted note and Nifty managed to hold the 11900 mark convincingly. Wednesday, global cues were a bit subdued early in the morning and despite this, our markets opened lower and then extended losses as the day progressed. The weakness was mainly led by the IT counters that were experiencing heavy profit taking after a recent relentless run. Then banking joined hands to drag the markets lower. But all of a sudden at the stroke of the penultimate hour, markets just took off and financials were the major charioteer to this late surge. Eventually, Nifty not only recouped losses but also ended well inside the positive territory. Despite unfavorable global cues, we kick started the Thursday session at the seven month high above 12000. However this gap up opening turned out to be a formality as we came off sharply in the initial trades. Markets stabilized from the hiccup; courtesy to complete recovery in banking stocks. Once again, this rebound got sold into which then became a nightmare for the bulls post the midsession as markets took a complete nosedive on the fears of a second wave of coronavirus hitting major European countries. This resulted in a similar trading session we witnessed on 31st August to mark more than a couple of percent losses.

NIFTY: A STRONG SUPPORT WILL BE @ 11500; STRONG RESISTANCE LEVEL SEEN @12200

As far as levels are concerned, the base has shifted higher and the previous resistance area of 11700 – 11800 should now be treated as a strong support. On the flipside, we are very much close to the psychological mark of 12000. The moment it’s taken out, we may see a steady move towards 12200 – 12400 levels. Since, the banking index is back to 200-day SMA on the daily chart and the way it closed with complete gush in the space, a move beyond 24000 would provide strong support to the benchmark index. However, we would like to highlight that since the move is extremely swift, anytime we can see some intraday profit booking and hence, one needs to position accordingly and be very fussy in stock selection.

TECHNICALLY SPEAKING.

In the last couple of weeks’ rally, global markets played the major part as we are seeing some gravity defying moves despite some in between uncertainty. Initially, in our recovery mode, we were a bit skeptical but in the first half of the week, we had to admit the miss and eventually started participating in the move. The way Nifty surpassed the 31st August high of 11794 with some authority and is now within the kissing distance of 12000, the positivity is likely to extend further. Importantly, the banking space which was following the benchmark in the entire recovery finally showed some dominance on Friday. This factor is very much in favor of the bulls, which may provide impetus for the extended rally. it will be then considered as a healthy rally. Let see how things pan out in the next couple of sessions.  ‘Bearish Engulfing’ pattern at the top was something very similar to what Nifty50 witnessed on August 31 at the 11,800 level. August’s candle was followed by a significant decline in the index towards the 10,800 level, he said.

Friday, October 9, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 12 OCT TO 16 OCT 2020

WEEKLY RESISTANCE FOR NIFTY: 12000, 12200,12400

PIVOT POINT: 11900

WEEKLY SUPPORT FOR NIFTY:  11700, 11500, 11300

WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 11950, 12050,12150

PIVOT POINT: 11900

DAILY SUPPORT FOR NIFTY:  11800, 11700, 11600

DAILY CHART FOR NIFTY

Nifty continued with its previous week’s momentum and started the week with another gap up opening. The index surpassed the 11500 mark and rallied to register a high of around 11580. At noon, we saw some tentativeness and the index corrected back upto 11450, but then we again saw some pullback at the end and Nifty reclaimed 11500 mark at the close. Positive cues from the global markets led to another gap up opening for Nifty on Tuesday. Post the gap up, the index consolidated in a range for most part of the session and then it rallied higher in the last hour of the session to end at its highest close in last seven months. In spite of the sluggish cues from the global markets, Nifty started the Wednesday session on a positive note and surpassed the 11700 mark. Post a surge in the first hour of the trade, the index consolidated with a positive bias throughout the session and ended at new seven month high. Nifty started the Thursday session with another gap up opening well above the 11800 mark. It continued the momentum and even tested 11900; however, some profit booking was seen in the penultimate hour due to which the index gave up some of the gains and ended around the opening levels, up by almost 100 points. The rally continued on the seventh straight day on October 9 with Nifty closing above 11900 and Sensex added over 300 points.   Sensex and Nifty ended near the day's high mainly supported by the banking names after Reserve Bank of India kept the Repo Rate unchanged at 4% and continued with the accommodative stance.   At close, the Sensex was up 326.82 points at 40509, and the Nifty was up 79 points at 11914

NIFTY: A STRONG SUPPORT WILL BE @ 11500; STRONG RESISTANCE LEVEL SEEN @12200

We are entering into the weekend with a strong closing where the Nifty is not very far from the 12000 price mark! 12200-12300 is a potential target which the index is capable of achieving during the course of this month. 11500 is a good support level.

TECHNICALLY SPEAKING.

Nifty on the weekly chart formed a long bull candle and the whole chart pattern now indicate a larger positive sequence of higher tops and bottoms. Hence, more upside could be in store in the near term to form a yet another higher top reversal at the new swing highs. The underlying trend of Nifty continues to be positive. The overall chart pattern signal more upside for the market in the near term. The upside targets to be watched for the coming week at 12200. Immediate support is placed at 11700.

Friday, September 25, 2020

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 28 SEP TO 1 OCT 2020

FOR LIVE TRADING TIPS WHATSAPP ON 9039542248

WEEKLY RESISTANCE FOR NIFTY: 11100, 11300,11500

PIVOT POINT: 11000

WEEKLY SUPPORT FOR NIFTY:  10900, 10700, 10500

WEEKLY CHART FOR NIFTY



 















DAILY RESISTANCE FOR NIFTY: 11100, 11200,11300

PIVOT POINT: 11025

DAILY SUPPORT FOR NIFTY:  10975, 10900, 10800

DAILY CHART FOR NIFTY

It was one of the worst weeks for our markets in the recent past as the indices corrected sharply along with the broader market. There was no respite for any of the index as all the sectors, including the recent out performers took a sharp knock. Our markets started the week around the previous week’s close. The index traded within a range till noon, but it then corrected sharply on back of sell-off in the global markets and ended with a cut of over a couple of percent at 11250. Nifty started the Tuesday’s session marginally positive; however, it was mere a formality as we immediately witnessed correction and within first half an hour, Nifty sneaked below 11100. The index gradually pulled from the lows, but the bears continued their dominance and the pullback move was sold into to eventually end the day with a loss of about 100 points around 11150. On the back of positive global cues, we started the Wednesday’s session on a positive note, but once again our markets witnessed selling pressure and corrected by about 200 points from the opening level. However, we recovered some of the losses in the last hour of trade and ended the day marginally in the red. The negative global cues weighed down heavily on our markets on Thursday as the Nifty opened gap down and then corrected throughout the day to end with a loss of almost 3%. Friday the market witnessed correction as sentiments soured on Fed comments on weaker-than-expected economic recovery, increase in fresh Covid-19 cases in developed markets and on concerns of higher-than-expected credit costs in the banking sector in the near term. 

Saturday, June 13, 2020

NIFTY WEEKLY REPORT & VIEW FOR NEXT WEEK 15 JUNE TO 19 JUNE 2020

FOR LIVE MARKET CALLS WHATSAPP YOUR NAME & SEGMENT ON 9039542248
WEEKLY RESISTANCE FOR NIFTY: 10000, 10200,10500
PIVOT POINT: 9900
WEEKLY SUPPORT FOR NIFTY:  9800, 9600, 9400
WEEKLY CHART FOR NIFTY






















DAILY RESISTANCE FOR NIFTY: 10000, 10100, 10200
PIVOT POINT: 9950
DAILY SUPPORT FOR NIFTY:  9900, 9800, 9700
DAILY CHART FOR NIFTY





Nifty opened with a gap up on Monday in line with strong global cues, but failed to surpass its crucial hurdle at 10,333 level. It consolidated in the initial hour of trade, but gradually drifted towards the 10,150 level in the latter part of the day.  Tuesday’s session once again saw Nifty start near the 100-DMA, which currently stands at 10276. After testing the day’s high near 10,291, Nifty came off over 250 points from the high point of the day. While showing no intention to recover, the headline index ended near the low with a net loss of 120 points. Wednesday market ended in the positive territory, supported by last-minute buying in counters such as Reliance Industries (RIL), HDFC, TCS, ICICI Bank, and IndusInd Bank. Nifty ended at 10,116, up 69 points . Thursday market had opened higher, shrugging off worries over the US Federal Reserve's grim outlook for a speedy economic recovery. However, the opening gains were soon erased as fears of a second wave of coronavirus and the Supreme Court's (SC) observations in the adjusted gross revenue (AGR) case weighed on market movers. the Sensex fell 708 points, to 33538, Nifty settled 214 points lower at 9902. Friday Indian markets made a dramatic intra-day comeback to end higher. The Sensex closed 242 points higher at 33780 after being down about 1200 points at day's low. A positive start in European markets, coupled with strong gains in index heavyweight Reliance Industries, powered the recovery. Dow futures were up about 600 points. The broader Nifty today settled 0.7% higher at 9972, recovering from day's low of 9544.