NIFTY UPDATE OF 18 NOV 2021

 Nifty  exhibited high volatility in trades on Thursday. The key indices witnessed wilted under severe selling pressure in the first-half of the day, before staging a partially mid-way, only to lose ground once again. Nifty    have recouped some of its losses in the last half-hour of trades or so on the back of renewed buying interest in banks and index heavyweight Reliance Industries. The BSE Sensex was down 375 points at 59,633, and the NSE Nifty had slipped 132 points to 17,767.One 97 communications, the parent company of digital payments major Paytm, made a weak stock market debut as its shares got listed at Rs 1,950, a 9 per cent discount against its issue price of Rs 2,150 on the National Stock Exchange  on Thursday. On the BSE, the stock opened at Rs 1,955 per share.

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NIFTY TREND FOR 18 NOV 2021

After a gap-down opening, the benchmark index continued the downside move throughout the day and settled at 17898 levels with a loss , while Bank Nifty slipped more than 200 points to close at 38041 levels. Technically, the index has formed a bearish candle on the daily time frame  which shows weakness in the counter. For the second straight day, Reliance Industries accounted for almost 50 per cent of the Sensex loss. The stock ended 2 per cent lower at Rs 2,462. Axis Bank and Kotak Bank were also down around 2 per cent each. On an hourly chart, the index has given a trend line breakdown, which points out some corrections. Furthermore, the index has given closing below 21 DMA as well as the stochastic indicator is trading negative crossover. At present, the index has support at 17750 levels, while resistance is at 18100 levels.

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Resistance: 18100, 18200, 18300

Support: 18000, 17900, 17800

NIFTY OUTLOOK FOR 17 NOV 2021

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Nifty ended on negative note on November 16  below 18000 dragged by the bank, pharma, oil & gas and metals stocks.Markets edged lower in a volatile session despite stable global cues. Finally, Nifty settled at 17,999  down by 0.6%. Amid all, a mixed trend was witnessed on the broader front wherein midcap ended lower and smallcap closed marginally in the green. On the technical front, markets are trading around the key support zone of ~ 18,000 levels and if it sustains above this level for a few more sessions, we can see a good up move in the near term. Immediate support and resistance in Nifty 50 is 17,850 and 18,250 respectively. Technically, the index has formed a bearish candle on the daily time frame, which shows weakness in the counter. On the hourly chart, the index has been trading with lower highs lower lows, which point out some corrections for the next trading session. 

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Resistance: 18100, 18200, 18300

Support: 18000, 17900, 17800

NIFTY OULTOOK FOR NEXT WEEK (15-NOV-2021 TO 18-NOV-2021)

The market snapped three-day losing streak on November 12 and regained the previous session losses led by the IT, power and realty names amid mixed global cues.At close, the Sensex was up 767 points at 60,686, while the Nifty was up 229 points  at 18,102.For the week, BSE Sensex and Nifty50 indices rose 1 percent each.The momentum which was lost during the week was regained as inflation worries started fading with investors shifting their focus to good quarterly earnings, economic recovery and strong domestic macro data points, The Nifty formed a bullish candle on daily scale and negated its lower highs - lower lows of two sessions, which suggests strength in the counter.At present, the index has a support level of 17,900, while resistance is at 18,250 levels. The index has moved above its strong hurdle zone of 18,000-mark which hints if prices managed to hold above the 18,000-mark, then one can expect a current pullback to extend further towards 18,200-18,300 zone, the immediate hurdle zone on the higher side.Also any dip near 18,000 mark will be again fresh buying opportunity.It formed a small bodied bullish candle on weekly scale with long lower shadow indicating declines are being bought despite profit-booking at higher zones.The index has to hold above 18,000 zones for an up move towards 18,250 and 18,350 zones. While on the downside, supports shifts higher to 17,900 and 17,777 levels. Next week would be crucial for the Nifty. If we can keep above 18,150 for a couple of sessions, the markets can scale higher to 18,400 and then 18,600. This will also take out the upper end of the current range which will add further momentum to the index.

WEEKLY RESISTANCE FOR NIFTY: 18200, 18300, 18400

PIVOT POINT: 17900

WEEKLY SUPPORT FOR NIFTY:  17900, 17700, 17500

WEEKLY CHART FOR NIFTY

NIFTY PREDICTION FOR TOMORROW 11 NOV 2021

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Markets remained volatile and ended marginally lower, in continuation to the prevailing trend. Weak global cues triggered a gap-down start however recovery in the select index majors trimmed the losses as the session progressed. A mixed trend was witnessed on the sectoral front and the broader indices also slipped marginally in the red after the recent surge. We are seeing mixed signals at present. At one end, participants are cautious due to continuous foreign outflow and mixed earnings announcements. On the other hand, improvement in the macro environment, improving demand and reopening of the economy is signaling positivity. All these factors put together are triggering volatile swings in the market. And, we expect choppiness to remain high due to the scheduled weekly expiry on Thursday. Participants should maintain extra caution in the selection of stocks and focus more on risk management.  Markets languished in the negative territory for a major part of the session as Asian cues were mixed. After the initial intraday selloff, Nifty found support near 17900 and reversed sharply in the closing hours.  On the back of negative global cues and Nifty, the index opened down, but it recovered 145 points from the day low and filled the gap and made an intraday high at 18060 and settling at 18017 with a marginal loss of 27 points while Bank Nifty settled at 39023 with a loss of 45 points. Technically, the narrow range activity near the 20 day SMA clearly indicates indecisiveness between the bulls and bears. However, the intraday texture is still bullish and is likely to continue in the near future. The intraday trading set up suggests 18000 would be the key support level for the traders. Trading above the same, the index can move up to 18100-18200 levels. On the flip side, dismissal of 17900 may trigger short-term correction up to 17850-17800 levels.

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Resistance: 18100, 18200, 18300

Support: 17950, 17850, 17750

NIFTY PREDICTION & OPTION CALL PUT TIPS FOR TOMORROW 10 NOV 2021

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After a positive opening on Tuesday 9 November 2021 , the domestic market traded lower as private banking stocks were under pressure following dull global markets. However, auto, PSBs and consumer durables climbed against the market trend with small and mid-cap stocks outperforming. Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data. nifty opened the day with gap up but showed a dull moment throughout the day & closed a day at 18044 with minimal loss. At Close, the Sensex was down 112 points at 60433, and the Nifty was down 24 points at 18044. M&M, Tata Motors, Hero MotoCorp, ONGC and SBI were among the major Nifty gainers. Losers included Britannia Industries, HDFC Bank, Maruti Suzuki, JSW Steel and Power Grid. Among sectors, auto and capital goods indices added 1% each, while buying is seen in the power, oil & gas, pharma names. However, metal and banking names remained under pressure.

NIFTY PREDICTION FOR TOMORROW 09 NOV 2021

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After a long weekend, the index opened on a positive note and rallied high and managed to close above 18000 marks at 18068 level with a gain of 151 points. While Bank Nifty closed at 39438 level with a moderate loss of 135 points.  The Nifty witnessed selling pressure post a gap up opening. The selling, however, was absorbed near the hourly lower Bollinger Band. The bulls took control over there resulting in a sustained rally. On the way up the Nifty has crossed certain short term barriers. It has crossed the key psychological mark of 18000, 61.8% retracement of the recent fall and a falling trend line on the hourly chart. This shows that the short term range has shifted higher. The Nifty is expected to march towards 61.8% & 78.6% retracement of the entire decline from 18604 to 17613. The key Fibonacci levels are 18225 & 18390 respectively. On the other hand, 18000 – 17900 will now act as a near term cushion. On the technical front, the index has formed a hammer candlestick pattern on the daily time frame indicating a further uptrend. The stochastic indicator is witnessed with a positive crossover suggesting a northward journey.  The index has also settled above the 21-days Moving Average, which further adds bullish momentum to the counter. At present, the index has a support at 17750 and resistance at 18250 levels. Index managed to close a day above its strong hurdle zone of 18k mark and formed a hammer candle pattern on the daily chart which stands for bullish reversal pattern so above 18100 we may see more extension in a current pullback. Going forwards 18k mark will act as a fantastic support zone also any dip around said levels will be again good buying opportunity with keeping stop out level below 18k mark on a closing basis, holding above 18k mark one can expect a good pullback towards 18200-18300 on an immediate basis which is again good hurdle zone on the higher side overall structure now looks buy on the dip.

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Resistance: 18200, 18300, 18400

Support: 18100, 18000, 17900

NIFTY PREDICTION FOR NEXT WEEK 8 NOV TO 12 NOV 2021

WEEKLY RESISTANCE FOR NIFTY: 18000, 18200, 18300

PIVOT POINT: 17800

WEEKLY SUPPORT FOR NIFTY:  17600, 17400, 17200

Last week’s corrective move was followed by a  decent gap up opening to kick-start the festive week on a cheerful note on 1 November 2021 . In the initial hour, market gave up some gains but fortunately at lower levels, the strong buying emerged across the broader market. In fact as the day progressed, the buying momentum accelerated to reclaim the 17900 mark. Eventually, Nifty ended the session with nearly one and half a percent gains. Our benchmark index had a gap up opening on Tuesday 2 November 2021 with a small margin despite SGX was indicating a sluggish start. In the initial trade, Nifty tested the 18000 mark but was unable to sustain above it. Due to modest selling in some of the heavyweights, Nifty gradually corrected in the first half and then slipped into a consolidation mode to end the range bound session with nearly two tenths of a percent cut.

NIFTY: A STRONG SUPPORT WILL BE @ 17600; STRONG RESISTANCE LEVEL SEEN @ 18200

The Diwali festival is around the corner and it appears as if the market is in no hurry to give any major move ahead of it. Generally markets do not correct around this festive time, but since we had a rough week last week and slid below key support of 18100 – 18000, market is finding a bit difficult to stay at higher levels. Fortunately the banking space remained firm throughout the day, which provided some helping hand to the benchmark index. If that had not the case, Nifty would have probably knocked the doors at 17700. For the coming week, 18050 – 18200  are likely to act as immediate hurdles and on the lower side, 17700 – 17500 are to be seen as key supports.

TECHNICALLY SPEAKING

Due to this week’s correction, the bears have finally managed to apply brakes on the ongoing euphoria. Since last week or so, Nifty started to look a bit nervous but banking was providing a strong helping hand and hence we did not see any major damage in benchmark. But now, the financial space finally succumbed to the broader market weakness by tumbling over 3%. This imposed tremendous pressure on Nifty and in the process, Nifty had to finally surrender the sheet anchor support of 18000. In fact, due to aggrandized selling, it just hastened towards the next key support of 17600. Since last few days, we have been maintaining our cautious stance on the market and even though market was making new highs, we maintained our scepticism and repeatedly advised booking profits. When market was not correcting, this might have sounded senseless, but historically its proven, when things look hunky-dory all around, the euphoric situation takes place and that is the time when market strikes back. This is exactly what we witnessed in last couple of weeks. Technically speaking, due to this late dominance from bears, we can observe few important developments on charts. Firstly, the ‘Lower Top Lower Bottom’ on daily chart after breaking below 18000, which coincided with the violation of the key short term moving average of ’20-day EMA’. More importantly, if we take a glance at the monthly chart, we can see a formation of ‘Shooting Star’ pattern, which certainly does not bode well for the bulls. Going ahead, since the market is a bit oversold, we may see some relief move in between; but traders should not get carried away by such rebounds. On the higher side, 18000 – 18100 would now be seen as immediate hurdles and any bounce back towards it, should be used to lighten up longs. On the flipside, we may see this corrective move extending towards 17450 first and if things worsened then the possibility of sliding towards 17200 – 17000 cannot be ruled out. We reiterate on staying light and avoiding any kind of bottom fishing for a while.

WHY F&O IS BETTER THEN EQUITY

Like share trading in the cash segment (buy & sell shares), derivative is another kind of trading instrument. They are special contracts whose value derives from an underlying security. Futures and Options (F&O) are two types of derivatives available for the trading in India stock markets.

In futures trading, trader takes the buy/sell positions in an index (i.e. NIFTY) or a stock (i.e. Reliance) contract. If, during the course of the contract life, the price moves in traders favor (rises in case you have a buy position or falls in case you have a sell position), trader makes profit. In case the price movement is adverse, trader incurs losses.

With futures trading, trader can leverage on trading limit by taking buy/sell positions much more than what you could have taken in cash segment. However, the risk profile of your transactions goes up.

Settlements are done on daily basis (MTM) until the contract expires. Profits/losses are calculated (and credited/debited in traders account) on end of the day every day.

Demat account is not needed for F&O trading. All futures transactions are cash settled. Contract positions are hold by the exchanges until they expire.

The F&O positions are carrying forward to next day and can be continued till the expiry of the respective contract and squared off any time during the contract life. This is different from 'Margin Trading' where trader has to close the position the same day.

NIFTY PREDICTION FOR NEXT WEEK 1 NOV TO 4 NOV 2021

WEEKLY RESISTANCE FOR NIFTY: 17800, 18000, 18200

PIVOT POINT: 17650

WEEKLY SUPPORT FOR NIFTY:  17500, 17300, 17100

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 17750, 17850, 17950

PIVOT POINT: 17650

DAILY SUPPORT FOR NIFTY:  17550, 17450, 17350

DAILY CHART FOR NIFTY

Monday morning, the global set up was good and in fact we over surpassed SGX Nifty by kick-starting the week well above the 18200 mark. However, Nifty immediately erased all gains in the following ticks and due to aggravated selling in few heavyweights, we slid below the psychological level of 18000 in the opening hour itself. Things did not look good at one point but fortunately the oversold market started rebounding from lower levels to again reclaim the opening levels. During the second half, index remained in a small range to conclude the session on a flat note. The global markets were indicating a positive start on Tuesday and in line with, our markets had a gap opening by a small margin. In the initial trade, we moved higher towards 18200 which got sold into immediately. Market slipped towards 18100 around the mid session but fortunately after couple of indecisive swings, we started marching higher towards the fag end of the session. As a result, the Nifty finally had some bounce back to end tad below 18300. Markets had a quiet start on Wednesday with mildly positive bias despite SGX Nifty was indicating a gap down opening by nearly 50 points. After consolidating around 18300 for nearly two hours, Nifty extended its gains towards 18350. It was once again followed by some choppy trades in a small band after the mid-session. However as we stepped into a final hour of the session, the heavyweight stocks started becoming a bit nervous, which eventually resulted in a sharp decline to conclude around 18200 with nearly three tenths of a percent cut. Despite Nifty was indicating a flat opening on Thursday, our markets started the day slightly lower and aggravated the selling right from the word go. In the initial hour we slid below 18100 and then as the day progressed, the bears thrashed all key supports one after another. Due to massive sell off in individual stocks, Nifty eventually plunged below 17900 to conclude the October expiry on a depressive note. In this process, Nifty concluded with nearly 2% loss, thereby marking a biggest single day cut after April 12, 2021. Market ended on weak note for the third consecutive session on October 29 with Nifty closing below 17,700 level. At close, the Sensex was down 677 points at 59306, and the Nifty was down 185 points at 17671.