Wednesday’s range bound trading session ended on positive note amid global cues and investors eyeing industrial and consumer price data and other macro data’s. Market sentiments were also lifted by PSU banks & metal stocks. The Sensex gained over 100 points while the nifty settled over 11000-level. The Sensex closed at 37270 rising 125 points, while the Nifty gained 32 points at 11035.
Wednesday, September 11, 2019
Monday, September 9, 2019
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Market
started on positive note. Bulls managed to sustain above 11000 mark. It was 2nd
straight day for positive market. The Sensex & nifty ended in the positive
territory on Monday due to heavy buying in banks, finance automobile & IT
sector. The Sensex added 164 points to settle at 37145, Nifty reclaimed
the crucial 11000 level to settle at 11003, up 57 points.
Friday, September 6, 2019
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UNIONBANK 57.5 CALL NEAR TO HIT 1ST TGT MADE A HIGH OF 2.2
DAILY RESISTANCE FOR NIFTY: 11000, 11050, 11100
UNIONBANK 57.5 CALL NEAR TO HIT 1ST TGT MADE A HIGH OF 2.2
WEEKLY RESISTANCE FOR NIFTY: 11100, 11200, 11300
PIVOT POINT: 11000
WEEKLY SUPPORT FOR NIFTY: 10900, 10800,
10700
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 11000, 11050, 11100
PIVOT POINT:10900
DAILY SUPPORT FOR NIFTY : 10850, 10800, 10750
DAILY CHART FOR NIFTY
After an
extended weekend, nifty started the week with a big gap down mainly on the back
of escalated trade war between US and China over the weekend. Index then
consolidated a bit throughout the first half but all of a sudden the selling
momentum accelerated at the stroke of the penultimate hour which lasted till
the closing point of the day. Eventually Nifty ended with a mammoth cut over
200 points on Tuesday. Tuesday’s sharp selloffs were followed by a muted
opening on Wednesday; but immediately in the initial trade, the selling
momentum resumed and we went on to sneak below the 10750 mark. Things started
to look a bit intimidating but fortunately we saw good buying emerging at lower
levels which continued for the remaining part of the day. This recovery was
mainly provided by the easing political tensions in Hong Kong and hence we
witnessed a rub off effect to conclude in the positive territory. Thursday, we had a good head start for the
day as index opened slightly higher on the back of positive global cues.
However we couldn’t capitalize on this early morning lead. In the latter half,
we not only wiped off all gains but also managed to slip slightly into a
negative territory. Eventually the weekly expiry ended flat with no clear direction.
Nifty managed to hold the 10,850 level and gradually extended its gains towards
the 10,950 mark in Friday’s trade.
NIFTY:
A STRONG SUPPORT WILL BE @ 10750; STRONG RESISTANCE LEVEL SEEN @11100
We still remain
optimistic and expect the index to revisit 11200-11400 in coming days. For the
coming week, 11000 followed by 11200 are the levels to watch out for in the
upward direction and on the lower side, we expect 10750 to act as a sheet
anchor. In case of any decline , traders should construe this as a good buying
opportunity. It formed a bullish candle on the daily scale while Bullish Pin
Bar on the weekly scale, which implied support-based buying interest has
emerged in the market at lower levels. Nifty has started to form higher
lows and supports are shifting higher. Now it has to hold above 10,850 to
extend its bounce towards 11,050 and 11,100 levels, while on the downside
supports are seen at 10855 and then 10775 levels.
Thursday, September 5, 2019
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Thursday’s
lackluster trading session ended on a flat note. Possibility of weaker outcomes
of September quarter earnings took the market sentiments off beat. The Sensex
ended with marginal loss, while Nifty finished flat after traded in a narrow
range throughout on September 5. At close, the Sensex was down 80
points at 36644, while Nifty was up 3 points at 10847. The
investors are waiting for the September quarter earnings and fear that it may
not keep up the expectations, particularly in the auto sector considering weak
sales. The earnings will also guide the direction for the markets along with
the global developments such as the developments in U.S.-China trade war.
Wednesday, September 4, 2019
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A volatile trading
session ended on positive note, Nifty & sensex witnessed
a volatile session on September 4 but managed to end higher with Nifty above 10800. markets opened on a
cautious note on Wednesday following rising concerns over subdued macroeconomic
data, unabated outflows by foreign institutional investors amid weak global
cues. The Sensex ended 162 points higher at 36725 and the Nifty climbed 47
points to shut shop at 10845. Growth in China's service sector accelerated
despite broader economic headwinds which sent markets higher. Moreover, reports
that Hong Kong will announce the withdrawal of an extradition bill also caused
relief.
Tuesday, September 3, 2019
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Nifty
cracked sharply on the back of weak sentiment. Nifty opened gap down and
continued to drift lower. The index broke multiple support levels on intraday
charts and closed below the key 10,800 level. The Sensex slumped 770 points to
settle at 36563 and the Nifty dropped 225 points to close at 10798.
Friday, August 30, 2019
NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 3 SEP TO 6 SEP 2019
WEEKLY RESISTANCE FOR NIFTY: 11100, 11200, 11300
DAILY RESISTANCE FOR NIFTY: 11075, 11150, 11225
PIVOT POINT: 11000
WEEKLY SUPPORT FOR NIFTY: 10900, 10800,
10700
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 11075, 11150, 11225
PIVOT POINT:11000
DAILY SUPPORT FOR NIFTY : 10950, 11875, 10800
DAILY CHART FOR NIFTY
During this
week, the index has seen high volatility wherein initially the index recovered
sharply from the recent swing low, and has now given up some of these gains in
last couple of sessions. However, if we look at the short term charts, it seems
that the Nifty has completed its corrective phase during last week and after
rallying about 500 points from the low in just three sessions, the index is
showing a pullback move. A slew of
announcement from FM Sitharaman on last Friday evening caused massive gap up
opening of the week. However, immediately index lost this early morning lead
which was a knee jerk reaction of escalated trade war between the US and China.
Due to this, index not only erased all opening gains but also went on to sneak
well inside the negative territory. Things looked extremely bleak at one point
of time, but fortunately, we witnessed enormous buying interest at lower levels
which kept on accelerating till the closing point of the day. Eventually, Nifty
concluded with a colossal intraday rally of more than 300 points from the low
and 200 points from the previous close. After ending on a high note on Monday,
the Nifty continued the momentum and opened on a positive note on Tuesday. Post
some momentum in initial couple of hours, the index traded a narrow range for
rest of the day and ended near the opening levels, marking gains of half a
percent over previous session’s close. Although the index traded in a narrow
range yesterday, the broader markets witnessed good momentum as the market
breadth was clearly in favor of the advances. In last three sessions, the index
has gained about 500 points from the low registered on Friday. Post the sharp
upmove of about 500 points from the swing low in three trading sessions, the
index retraced some of the gains and corrected in Wednesday’s session to
re-test the 11000 mark, the index then recovered some of the losses in last
half an hour and ended the session with a loss of about half a percent. After
retracing about 38.2% of the recent correction, the index corrected back
towards the 11000 mark. The benchmark indices opened on a negative note ahead
of the F&O expiry of August series on Thursday. The Nifty witnessed selling
pressure and registered low of 10922 as some of the heavyweights were seen
under pressure. The last couple of hours witnessed significant volatility as
the index recovered the losses to retest the morning highs and then again corrected
in the last hour to end the session with a loss of about 100 points. Nifty
remained highly volatile throughout Friday’s session and traded in wider range
of 150 points. It drifted towards 10,880 level in the first half of the day,
but recovered sharply from lower levels to extend the gains towards 11,040 and
managed to close above 11,000.
Thursday, August 29, 2019
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A strong
volatile trading session ended on negative note. Nifty witnessed strong
volatility as the August series F&O contracts expired on Thursday. The nifty
opened negative, drifted towards the 10920 level and then recovered to 11020
mark. Eventually, the bounce got sold into and finally the index closed with
the around 100 points cut at 10948.
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