NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 14 OCT TO 18 OCT 2019

WEEKLY RESISTANCE FOR NIFTY: 11400, 11500, 11600

 PIVOT POINT: 11250

WEEKLY SUPPORT FOR NIFTY:  11150, 11050, 11000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11375, 11435, 11500

PIVOT POINT: 11275

DAILY SUPPORT FOR NIFTY:  11225, 11175, 11050

DAILY CHART FOR NIFTY

If end’s well it mean all is well.  Finally nifty closed the week above 11300 mark. The market mood has been somber from last Diwali 2018, thanks to economic slowdown, subdued earnings, liquidity crisis, asset quality concerns, FII outflow, corporate governance issues (in a few cases) global growth fears amid endless US-China trade tensions etc, which clearly reflected in markets. Diwali 2019 is still two-week away. The Nifty Midcap and Smallcap indices fell 11 percent and 14 percent respectively in Diwali 2019 (against 7% and 22% correction in Diwali 2018), but the picture was completely different in benchmark indices. The Nifty and Sensex rallied 6% each (against 4.5% and 10% gains respectively in Diwali 2018) led by hope rally and buying in select bluechips. On Monday, Nifty started the week on a mild positive note however the rub-off effect from the previous week immediately pulled Index lower. Subsequently, Index managed to hold on to the key support levels to trigger an intraday bounce back. Eventually in the penultimate hour nifty once again witnessed a sell-off to end with a loss of 0.43% at 11126. After the mid-week holiday, the Nifty started Wednesday’s session marginally positive. However, it witnessed some selling pressure in the first hour of the trade and tested the crucial support of 11100. The indices then witnessed buying momentum from this support and the momentum accelerated as the day progressed to end with gains of over 180 points. Citing negative cues from the Nifty, our indices opened marginally negative in Thursday’s session. The Nifty then traded in the range of 11200-11300 throughout the day and ended with a loss of seven-tenths of a percent.

NIFTY: A STRONG SUPPORT WILL BE @ 11000; STRONG RESISTANCE LEVEL SEEN @11500

OPTION CALL PUT TIPS & NIFTY OUTLOOK FOR 11 OCT 2019

A rangebound trading session ended on flat note. After a one-day rally, Market once again came under pressure on Thursday amid brisk selling in banking counters. Nifty Bank, which jumped over 1000 points in the previous session, today tumbled like a pack of cards (down nearly 800 points), thus, erasing a large portion of the gains made yesterday. The Sensex and Nifty resumed their downward journey after a day's break in the previous session. The Sensex fell as much as 375 points at the day's lowest level and the Nifty touched an intraday low of 11209. The Sensex ended 298 points lower at 37880 and the Nifty declined 79 points to settle at 11235.

OPTION CALL PUT TIPS & NIFTY OUTLOOK FOR 9 OCT 2019

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"BUY NIFTY 11600 CALL 31 OCT @ 43 TGT 58/70"

Bulls are in the grip on bears. Nifty came below 11150 mark. The market ended in the red for the sixth consecutive session as the concerns over weak macroeconomic environment persisted. The Sensex closed 141 points down at 37531.  The Nifty index settled 48 points lower at 11126. 

NIFTY BELOW 11200 MARK ; RBI CUTS FY20 GDP TO 6.1%

RBI's monetary policy committee cuts repo rates by 25 basis points to 5.15 %.

RBI has said that there is space to cut repo rates further.

The reverse repo rate has been reduced to 4.9 %, and the bank rate stands at 5.40%. 

Real GDP growth for 2019-20 has been revised downwards from 6.9 %  in the August policy to 6.1 %. RBI has said that various high frequency indicators suggest that domestic demand conditions have remained weak.

The MPC noted that the negative output gap has widened further. While the recent measures announced by the government are likely to help strengthen private consumption and spur private investment activity, MPC said that the continuing slowdown warrants intensified efforts to restore the growth momentum. 

The CPI inflation projection is revised slightly upwards to 3.4 % for Q2:2019-20 from 3.1 % projection earlier. 

NIFTY OUTLOOK & FREE OPTION CALL PUT TIPS FOR 3 OCT 2019

BUY HINDALCO 175 PUT @ 2.3 TGT 3.5

BUY AXISBANK 740 CALL @ 7.5 TGT 10.5

Bulls are on back foot bears continued to grip the markets in Tuesday’s session also due to an across-the-board sell-off as financial sector woes, auto sales slump and weak macro data spooked investors. …!!!! Nifty came below 11400 mark. After opening at 11515 nifty made a high of 11554 & came down to 11247 & finally closed at 11359 down by 114 points in intraday.

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A volatile trading session ended on negative note, nifty closed below 11500 mark. The indices ended lower but off days low in the volatile session on September 30. At close, the Sensex was down 155 points at 38667, while Nifty was down 37 points at 11474. Indices were dragged down by declines across banking, auto, metal and pharma shares.

NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 30 SEP TO 4 OCT 2019

SBIN 260 OCT PUT  ALMOST HIT 1ST MADE A HIGH OF 5.25 BUY GIVEN @ 4.3 YESTERDAY 2850 PROFIT 

WEEKLY RESISTANCE FOR NIFTY: 11600, 11700, 11800

 PIVOT POINT: 11500

WEEKLY SUPPORT FOR NIFTY:  11400, 11300, 11200

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11600, 11650, 11700

PIVOT POINT:11550

DAILY SUPPORT FOR NIFTY :  11500, 11450, 11400

DAILY CHART FOR NIFTY

In mere couple of trading sessions, the Nifty has rallied from the low of around 10700 to almost test 11700. Traders and investors have certainly cheered to the steps taken by our FM on Friday and the party continued in yesterday’s session as well. Many of the large cap stocks have participated in the upmove in last couple of sessions and the volumes in this upmove too have been good.  The Nifty started the week on a cheerful note and continued the last week’s optimism as it opened with a gap up of about 270 points. During the day, the index rallied higher to almost test the 11700 mark and then consolidated during later part to end around 11600, adding more gains of over 300 points. Post the sharp upmove in a couple of sessions, the index consolidated in a range on Tuesday and ended around the Monday’s close. On Wednesday markets was trading with a negative bias in morning and in line with the global cues. With open high same scenario, the Nifty breached low of the 'Doji' candle formed on the previous day. Nifty then witnessed a sell-off and it corrected throughout the session to end the day with a loss of around 150 points. On the expiry day of f&o September series index started the day marginally positive and rallied sharply in the first hour of the trade to re-test the 11600 mark. Although the index traded with a positive bias, the intraday volatility remained high. The Nifty ultimately ended the day with gains of over a percent. Post a minor correction for a couple of sessions, the indices resumed the positive momentum in Thursday’s session. On market was trading flat in the volatile trade on September 27 with Nifty hovering around 11550 level.

NIFTY: A STRONG SUPPORT WILL BE @ 11350; STRONG RESISTANCE LEVEL SEEN @11725

We continue with our advice for traders to trade with a positive bias. Given the sharp up move, it is a bit difficult to time entry now for those who have already missed the bus. But, we believe that this rally has more legs to unfold and hence, one should use buy on declines strategy. The immediate support for the index is placed in the range of 11400-11300 whereas the near term resistances are seen around 11705 and 11800. For intraday, 11539 will be seen as initial support followed by Monday's gap area of 11470-11380. On the flipside, 11655- 11700 is seen as the immediate hurdle on the upside.

TECHNICALLY SPEAKING.

NIFTY CLOCKED BEST F&O SERIES EXPIRY IN SIX MONTHS

BUY TATASTEEL 390 OCT CALL @ 12 TGT 15

BUY SBIN 260 OCT PUT @ 4.3 TGT 5.3 

Bulls are back in action & successfully closed nifty above 11550 mark on the September F&O expiry day.  The Sensex added as much as 564 points to touch 39158 at the day's strongest level, before giving up some of those gains by the end of the session. The Nifty climbed to as high as 11610, up 170 points from the previous close.  Across-the-board buying and hopes of US-China trade truce after US President Donald Trump said on Wednesday a deal to end a nearly 15-month trade war with China “could happen sooner”, boosted market sentiment.