NIFTY VIEW & OPTION CALL PUT TIPS FOR 1 AUG 2019

Market ended higher today but recorded their worst month this year in July as a tepid results season, consumption slowdown and outflows from hurt sentiment. The Nifty today closed up at 11118, while the Sensex ended higher at 37481. For July, the Nifty was down 5.7%, its worst since September, while Sensex fell 4.9% to an eight-month low.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 30 JUL 2019

"BUY BIOCON 230 PUT @ 5.4 TGT 6.4/7.4"
"LT 1420 CALL @ 17 TGT 21/25"
Last week’s mayhem continued in today’s session as we started proceedings for the week with a downside gap tad below 11350. The selling aggravated as the day progressed and in the process, we went on to violate the crucial support zone of 11200 – 11150 as well following Finance Minister Nirmala Sitharaman's comment that the government does not intend to review its overseas borrowing plan. The Sensex index - which opened 160 points higher at 38043 - gave up early gains to fall as much as 148 points to 37734, and the Nifty moved to 11214, down 70 points from the previous close.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 29 JUL TO 2 AUG 2019

WEEKLY RESISTANCE FOR NIFTY: 11400, 11500, 11600

 PIVOT POINT: 11300

WEEKLY SUPPORT FOR NIFTY:  11200, 11100, 11000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11350, 11450, 11550

PIVOT POINT:11275

DAILY SUPPORT FOR NIFTY :  11325, 11225, 11125

DAILY CHART FOR NIFTY

This week’s mayhem continued as we saw a gap down opening of the week followed by a sustained selling throughout the first half in Monday’s session. This sell off was disheartening because the stable propositions like HDFC Twins and Kotak Bank also finally succumbed to the market destruction. These marquee names have been reluctant to correct since many months and in fact, have propelled index to the record highs. But monday, they looked completely dejected and hence, correction reinforced to test the 11300 mark. Fortunately, the selling got arrested in the latter half and we had a small bounce back to eventually close around 11350. Tuesday, started slightly higher but similar to recent trends, this gap up opening was merely a formality and in the initial hour, we were back to Monday’s low. Once again, we saw some respite at lower levels and in the penultimate hour, index surged towards the 11400 mark. Things looked good but mighty bears had other plans as we saw a complete nosedive once we stepped into a final hour. In the process, we erased all gains in a flash and due to mild recovery towards the end, Nifty closed with marginal losses. Wednesday seems that our markets are not even interested looking at what global market was doing. While US bourses hitting record highs every day, our market still looks dejected and Wednesday too, we had a massive cut in the first half after breaching the 11300 mark. Fortunately, the fall got arrested at a kissing distance from 11200 and thereafter, we kept oscillating with volatile swings throughout the remaining part of the day. Eventually, the Nifty concluded with over half a percent cut. Thursday had a flat opening owing to mixed global cues. However, during the first half an hour of the trade, we saw strong bout of buying to push the index near Wednesday’s high of 11359. In fact, in this process, Nifty managed to surpass it by a small margin and then similar to recent trend, this lead got sold into. Thereafter, index struggled throughout the remaining part of the day to eventually conclude the July series at two month’s low.  Friday market ended lackluster trade with marginal gains. Nifty traded range-bound for better part of the day tracking corporate earnings and weakness in global markets. Nifty settled at 11284 mark up 32 points.

NIFTY: A STRONG SUPPORT WILL BE @ 11100; STRONG RESISTANCE LEVEL SEEN @11500

NIFTY VIEW & OPTION CALL PUT TIPS FOR 26 JUL 2019

BUY VEDL 160 PUT @ 4 tgt 5.5/7

BUY LT 1420 CALL @ 22 TGT 26/30

Corporate earnings and F&O contract expiry took the market indices in the red. Sensex gives up 300-pt, while Nifty settles July series below 11300 mark. Fearing longevity of the current bear phase, investors choose to wait and watch in the near term.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 25 JUL 2019

The market extended decline to fifth straight day as sell-off across sectors intensified. The market opened lower and extended declines with Sensex declining as much as 274 points and the Nifty dropping to over two month low of 11230. The Sensex fell 135 points to close at 37848 and the Nifty dropped 60 points to settle at 11271. The markets are expected to fall 8-10 percent from current levels, we are factoring in earnings per share of 575-580 for the Nifty in current financial year with a 17.5-21.5 times price-to-earnings. We could see the markets falling below the lowest estimated P/E if there are uncertainties in the macro, liquidity and the earnings. 

NIFTY VIEW & OPTION CALL PUT TIPS FOR 24 JUL 2019

Market slipped for fourth consecutive session on Tuesday as weak corporate earnings, hinting at an economic slowdown, kept investors' sentiment muted. Heavy selling in select bluechip stocks like HDFC twins, State Bank of India, Reliance Industries and HCL Tech dragged indices lower during the last hour of trade. The Sensex settled below the 38000 mark at 37983 levels, down 48 points. The Nifty, ended at 11331 mark, down 15 points.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 23 JUL 2019

The week has started on negative note. Bears continued to grip the markets in today’s session also…!!!! Nifty came close to 11300 mark, made a low of 11301.  Extending their losing streak to the third session in a row, market ended lower on Monday with the frontline indices tumbling nearly 1% amid selling in bluechip counters such as HDFC duos, Bajaj Finance, Hindustan Unilever and ITC. The Sensex lost 306 points to settle at 38031. The Nifty slipped 82 points to settle at 11337 levels. Nifty started from 11392 made a high of 11398.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 22 JUL TO 26 JUL 2019

WEEKLY RESISTANCE FOR NIFTY: 11475, 11575, 11675

 PIVOT POINT: 11400

WEEKLY SUPPORT FOR NIFTY:  11325, 11275, 11200

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11450, 11550, 11650

PIVOT POINT:11425

DAILY SUPPORT FOR NIFTY :  11375,11350,11300

DAILY CHART FOR NIFTY

The week closed on negative note. The Sensex slips 560 pts to log 2nd biggest fall in 2019 so far, Nifty ends at 11419. The Nifty hinted at a positive opening of the week and in line with the expectations, our markets started trading for the week on a positive note above the 11600 mark. The index then consolidated in a range throughout the session and ended the day tad below 11600. The index heavyweight ‘Infosys’ announced its quarterly results over the weekend and the market participants gave thumbs up to its better than expected numbers.  Nifty opened on a flat note on Tuesday and consolidated below the resistance of 11640 for most part of the session. However, Nifty breached this resistance during later part of the session and ended the day around the high point with gains of over six-tenths of a percent.  The index opened marginally positive in Wednesday’s trading session and traded in a narrow range throughout the day to end tad below the 11700 mark. In last few sessions, Nifty has seen a pullback move and has tested its '20 DEMA' in Wednesday’s session. Although the index has given a pullback moves of more than 200 points from the recent lows. Most of the Asian markets were trading with a flat to negative bias before our market open and our indices too witnessed a flat opening in Thursday’s session. However, the weekly expiry session witnessed a negative momentum from the opening ticks itself and the index corrected throughout the session to end the day around 11600. On Friday market slid as there was sharp sell-off by foreign funds due to the government’s reluctance to tweak FPIs income tax surcharge, and the deficiency in monsoon rain, which impacted risk sentiment. Additionally, downward revision in India’s growth to 7% by ADB and lackluster earnings from domestic corporates added anxiety over premium valuation.  
NIFTY: A STRONG SUPPORT WILL BE @ 11350; STRONG RESISTANCE LEVEL SEEN @11600

Next week is the expiry week on Jul series, honestly at this juncture; it’s hard to give any possible direction for the forthcoming week. We need to see how market reacts in the first half. Till the time, 11425-11400 are not violated, the broader structure does not get distorted. But in case if it happens, then get ready for some sharper cuts in the market. On the higher side, 11640-11700 remains to be a sturdy wall. If market has to regain strength, the banking needs to take a charge. Also the IT and Midcaps witnessed complete sell off and hence, we need to see whether the correction is overdone or yet to extend further. At present, traders are advised to stay light and it’s better to adopt a confirmatory approach for a while.

TECHNICALLY SPEAKING.