NIFTY WEEKLY PREDICTION FOR 28 NOV TO 02 DEC 2016

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WEEKLY RESISTANCE FOR NIFTY: 8038, 8077, 8132, 8187

PIVOT POINT: 7999

WEEKLY SUPPORT FOR NIFTY:  7944,7889,7850,7811

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8129, 8168, 8194,8220

PIVOT POINT: 8087

DAILY SUPPORT FOR NIFTY :  8060, 8036, 7996, 7955

DAILY CHART FOR NIFTY

Sensex opened the week at 26147, made a high of 26343, low of 25736 and closed the week at 26316. Thus it closed the week with a gain of 166points. At the same time the Nifty opened the week at 8138, made a high of 8138, low of 7962 and closed the week at 8118. Thus the Nifty closed the week with a gain of 44 points. The Nifty kick started the December series on a positive note. Positive global indices, rupee appreciation and also steel makers extended gains after the government imposed anti-dumping duties on some imports lifted the Indian stock markets on Friday. 

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 25 NOV 2016

Daily candle chart shows a hammer formation that indicates a bullish reversal. Huge volatility is seen today on the account of expiry of November series derivative contracts as investors will carefully analyze the economic effect of demonetization in short term before roll over the contracts into next months. Market ended lower on November F&O expiry day as the rupee crashed to a fresh all-time low of 68 amid sustained foreign fund outflows and the greenback's surge in overseas markets. The Sensex ended down 192 points at 25860 and the Nifty closed 58 points lower at 7965. Meanwhile, the much-awaited Goods and Services Tax (GST) Council meeting, slated for Friday, was also postponed by a week.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 24 NOV 2016

The market is well on course to end on a firm note today, extending gains to a second successive session, as buying continues at several front line counters.  The selling spree seems to have halted temporarily after India saw one of the biggest outflows in a nervous November. Such was the intensity of selling that hardly any sector was spared as foreign investors offloaded about $ 11 billion of equities and bonds in Asia’s emerging markets following Donald Trump’s surprise victory in the U.S. presidential election. India has seen close to 11000 crore in outflow this month; the worst ever for a month since 2002. Today The Sensex ended the day 26051, up 91 points while the broader Nifty settled the day 8033, up 31 points.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 23 NOV 2016

Market was still volatile. The only positivity is that it was still in green zone. Domestic market pared some of early gains with the Sensex falling below 26000 level, while the Nifty also slipping below its crucial 8000 mark. While the Sensex rose 195 points to 25960 level, the Nifty rose 73 points to close above the 8000 level at 8002 points.

NIFTY WEEKLY PREDICTION FOR 21 NOV TO 25 NOV 2016

WEEKLY RESISTANCE FOR NIFTY: 8187, 8236, 8311, 8385

PIVOT POINT: 8138

WEEKLY SUPPORT FOR NIFTY :  8064,7989,7940,7885

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8104, 8121, 8146,8172

PIVOT POINT: 8088

DAILY SUPPORT FOR NIFTY :  8064, 8037, 8020, 8004

DAILY CHART FOR NIFTY

 Sensex opened the week at 27204, made a high of 27270, low of 26127 and closed the week at 26150. Thus it closed the week with a loss of 668 points. At the same time the Nifty opened the week at 8279, made a high of 8287, low of 8040 and closed the week at 8074. Thus the Nifty closed the week with a loss of 253 points.  

CANDLESTICK PATTERN:

On the weekly charts, Nifty have formed a big black body candle with short lower shadow, in line with the downtrend. On the daily charts, the indices opened flat down and formed a Black body doji. Interestingly, it is almost like an red doji but it has formed in a downtrend, whereas doji is formed in an downtrend. Thus daily as well as weekly candlestick study indicates a bearish bias in the near term.

NIFTY PREDICTION & FREE NIFTY TIPS FOR 18 NOV 2016

See-saw movement was there in the market today. The market fluctuated between gains and losses tracking weak trade in Asian markets as investors await testimony from Federal Reserve Chair Janet Yellen that will help shape U.S. interest-rate expectations. The Sensex fell over 71 points in choppy trade today to hit about six-month low of 26228, falling for the fourth straight session, amid lingering worries about the economic impact of demonetization. The Nifty too dipped below the key 8100 level. Sentiment also took a hit on sustained foreign capital outflow from emerging markets, including India, and the dollar climbing to its highest mark in over 13 years. Trading sentiment remained distinctly weak due to cash crunch arising out of the government’s move to demonetize Rs. 500 and Rs. 1,000 notes to flush out black money amid concerns about its impact on small and medium—sized businesses which largely run on cash.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 17 NOV 2016

The market lost momentum for the third consecutive day today with Nifty closing below its 200-day moving average of 8126 level. An index closing below its 200-day moving average signals short-term volatility and downtrend in the market. The Sensex which gained 300 points in first five minutes of trade closed marginally lower reeling under the effects of demonetization. The Sensex closed 6 points lower at 26298 level.  The Nifty raised merely 3 points higher to 8111. Market benchmark Sensex ended a shade lower today after giving up early gains of about 317 points on widespread fag-end selling amid sustained capital outflows by foreign funds and a weak trend in European shares. However, NSE Nifty managed to eke out a small gain and closed above the crucial 8,100-mark. Sentiment remained upbeat for the major part of the session after lower inflation data raised hopes of a rate cut by RBI next month, but the index turned lower towards the fag-end as profit-booking emerged. Sensex started off on a strong footing and advanced to a high of 26621. However, it succumbed to profit—booking at higher levels, falling to 26239, before settling 6 points lower at 26298. NSE Nifty, however, managed to close in the positive zone with a small gain of 3 points at 8111 after shuttling between 8210 and 8089.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 16 NOV 2016

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The week has started on bearish note. Today whole market was in the favour of bears only. Strong selling pressure was there in the market today. The stock market continued its downfall after a three day break on Tuesday as dollar hit a 11 month high amid investors' hopes that US Federal Reserve may raise interest rates, resulting in funds flowing from emerging markets assets to the US. The market ended in the red as indices extended their losing streak for the second consecutive trading session. Nifty ended below the 200-DMA. The negative global cues, depreciating rupee and lower crude oil prices dampened the sentiment. The BSE Sensex ended with a loss of 514 points at 26305. The BSE Sensex opened at 26810 touched an intra-day high of 26809 and low of 26254. The NSE Nifty closed with a loss of 188 points at 8108. The NSE Nifty opened at 8285 hitting a high of 8289 and low of 8094.