NIFTY BANKNFITY VIEW FOR RBI CREDIT POLICY 6 JUN 2019

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Market ended Tuesday's session in red ahead of Reserve Bank of India's monetary policy decision due on Thursday, At close, the Sensex was down 184 points at 40083, while Nifty was down 66 points at 12021. The pressure on the Reserve Bank of India (RBI) to cut interest rates this week has mounted dramatically, considering the 20-quarter slowest headline GDP growth of 5.8% in 4Q FY19 and the headline inflation at sub-3%. Whether the RBI should complement it further with liquidity-easing measures is also debated. In the absence of fiscal space to boost the economy, the RBI is expected to maintain a delicate balance between short-term relief and long-term strategy. We continue to maintain our

cautious stance on the markets at higher levels in the near term. 

MARKET EYE RBI’S MONETARY POLICY 06 JUN 19

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Market started the week on a strong footing with both the gauges closing at new lifetime record levels as investors shrugged off weakness in global peers, 5-year low domestic GDP print and unemployment at 45-year high. The weak GDP print, poor auto sales and other high-frequency data raised hopes of a 25 basis points rate cut by the RBI’s monetary policy committee. Sensex hit record high of 40267; Nifty peak of 12088.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 3 JUN TO 7 JUN 19

WEEKLY RESISTANCE FOR NIFTY: 12050, 12150, 12250

 PIVOT POINT: 11900

WEEKLY SUPPORT FOR NIFTY:  11800, 11700, 11600

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12000,12050,12100

PIVOT POINT:11900

DAILY SUPPORT FOR NIFTY :  11850,11800,11750

DAILY CHART FOR NIFTY

The market closed the volatile day as well as week on the negative side after cabinet announcement under Modi 2.0. At close, the Sensex was down 117 points at 39714, while Nifty was down 23 points at 11922. Post the election week, our markets opened slightly higher despite Nifty indicating a sluggish start. Our markets decoupled from the global peers last Monday; but it was evident also considering the major event on the domestic front. But it seems that the rub off effect is still there and yesterday too, we did not even try to peep what other global markets are doing. We had a trended move throughout the day with less momentum to add another seven tenths of a percent to the bulls’ kitty. After last week’s wild swings, the volatility was likely to subside and considering the overall development on Friday, we were expected to have a steady up move on Monday. Markets did not disappoint and Monday’s intraday move was very much on expected lines. We continued our march towards the mount 12k which needs to be conquered on a sustainable basis. Tuesday, there were no major triggers on the global as well domestic front and hence, we had a flat to positive start tad above the 11950 mark. However it turned out to be a formality as we saw open-high kind of scenario to immediately pull the market lower. During the most part of the day, index remained under a bit of pressure and hence the Nifty spent most of its time below 11900. Fortunately, due to some late recovery, the nifty finally managed to reclaim this psychological mark by concluding with a negligible gain. Wednesday, we opened lower as indicated by the SGX Nifty which was followed by some consolidation throughout the first half. However, in the latter half, the selling intensified across the globe and in this course of action; we slipped below the 11900 mark on a closing basis. Thursday, the global set up early in the morning was not so encouraging; but despite this our markets kicked off the day on a flat note and right from the word go, the buying emerged at lower levels. This was followed by a good trended up move throughout the remaining part to reclaim the 11900 mark. In fact, it didn’t look like a derivative expiry day as there were no wild swings or major volatility seen. Eventually, the Nifty ended tad below 11950 to register highest ever close for our index Nifty.

NIFTY: A STRONG SUPPORT WILL BE @ 11800; STRONG RESISTANCE LEVEL SEEN @12000

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Bulls continued to rule on the D-street on Thursday ahead of May derivative contracts' expiry, with Bharti Airtel Ltd and NTPC Ltd leading gains, as investors awaited appointments for key ministries at Prime Minister Narendra Modi's swearing-in ceremony. Market witnessed a rally over PM Modi's landslide victory in the general elections last week. PM Modi will be sworn-in for a second term later in the day and is expected to name his new cabinet ministers. The Nifty was up at 11917, while the Sensex was trading higher at 39722.

A stable government is attractive and stocks are outperforming on hopes of new policies. After today's ceremony (ministry announce

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Market was off bit because of F&O expiry on May 30. The Sensex closed 247 points at 39502, while Nifty was down 67 points at 11861. Nifty on Wednesday negated the formation of higher lows of last three sessions and got stuck in the wider trading range of the election results day. It failed to surpass the previous day’s closing of 11930 and drifted towards the 11835 level. The index got stuck in a 130-point range between 11,800 and 11,950 levels in last three sessions and now needs a decisive range breakout to get some momentum in the market.

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A volatile trading session ended on positive note. After elections outcome, markets is in consolidation face and shifted its focus towards macro data , onset of monsoon , events like RBI Monetary Policy slated next week (6th June ) and also on Union budget . On global front, US-China trade wars along with rise in Oil price will determine further trend of the market. We continue to remain optimistic, as the new government is expected to continue with its infrastructure thrust and focus on rural schemes. The indices ended higher in the consolidation day. The Sensex was up 66 points at 39749, while Nifty was up 16 points at 11941.

NIFTY OUTLOOK & NIFTY OPTION TIPS FOR 28 MAY 2019

The market is witnessed a board-based rally expecting better outlook for the economy in the next one to two quarters. On Monday market has closed at another record high as investors continued to cheer the decisive mandate for the Narendra Modi's BJP in the national election. After rallying nearly 400 points, the sensex ended 248 points, higher at 39683 its all-time closing high. The gauge hit an intra-day high of 39821 and a low of 39353. Likewise, the Nifty jumped 80 points, to 11924 a closing peak for the index. During the day, the bourse hit a high of 11957 and a low of 11812. Domestic and foreign investors have been euphoric ever since Modi-led NDA registered a thumping victory in the Lok Sabha polls.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 27 MAY TO 31 JUN 19

WEEKLY RESISTANCE FOR NIFTY: 11900, 12000, 12200

 PIVOT POINT: 11800

WEEKLY SUPPORT FOR NIFTY:  11700, 11600, 11500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11900, 11950, 12000

PIVOT POINT: 11850

DAILY SUPPORT FOR NIFTY:  11800, 11750, 11700

DAILY CHART FOR NIFTY

Bulls have shown tremendous strength on the long-awaited exit polls, despite the ongoing ambiguity in the US-China trade talks. With the last phase of elections scheduled for Sunday, the all-round buying across the sectors reflects market's anticipation that exit polls may indicate formation of a stable government. Monday was all about the result of exit polls over the weekend. With almost all polls indicating NDA government back in power with thumping majority, the market overjoyed with this and had a massive bump up at the opening well above the 11600 mark,. In the initial hour, there was mild profit taking seen; but eventually this got bought into and index went on register colossal rally of over three and half a percent to the previous close.  Monday’s colossal rally was followed by a gap up opening at new record highs on Tuesday. During the first half, index consolidated in a range; but second half turned out to be a disappointing one as we saw broad based sell off till the closing trade of the session. In this process, index shaved off precisely a percent from Monday’s massive upsurge. Wednesday, markets opened slightly higher as indicated by the Nifty early in the morning. Subsequently, index consolidated in a range of nearly 100 points throughout the day to eventually close with one fourth of percent gains. On the sectoral front, two heavyweight pockets, Banking and IT had diverging moves. The banking index saw decent pull back; whereas the IT index continues to underperform. Thursday, since morning, all eyes were on election counting and right from the word go, the BJP led NDA had taken a head start. As a result, we had a massive gap up opening tad above the 11900 mark. As the counting progressed, this early morning lead got extended to go beyond the magical figure of 12000. However, all of a sudden, we saw index taking a complete nosedive after clocking new highs, in fact the profit taking was so immense, we not only wipe off all gains but also went on to sneak well inside the negative territory. Friday market ended near day's high level on May 24 after BJP led NDA government got clear mandate in the Lok Sabha Election 2019. At close, the Sensex was up 623 points at 39434, while Nifty was up 187 points at 11844.

NIFTY: A STRONG SUPPORT WILL BE @ 11200; STRONG RESISTANCE LEVEL SEEN @11500

Expiry is ahead in the coming week. We must accept the fact, the forthcoming session is likely to see roller coaster rides and the overall trading range would probably be considerably higher than average range. Momentum traders are advised to stay light and would be necessary to remain flexible in case of any adverse reaction. Last week we had clearly stated about this space which is in a last phase of time as well as price correction. We have already seen a good leap from lows and expect further legs to unfold, which will eventually bring back the wider smile on many traders’/ investors’ faces. Historically, the stock market associates the month of May with Bearishness. This time too, it is playing out in a similar fashion as the Bears have started taking command. The old adage “Sell in May & Go on a Vacation” holds particularly true, as the market seems ready to test lower levels going forward. The short term trend has turned negative this week, as now every rally is being sold into, with 20dma and 200dma providing strong Resistances. The Bulls have a flicker of hope as the market has taken support at the Bullish Gap 11750-11650 and closed within it.

TECHNICALLY SPEAKING.