NIFTY PREDICTION FOR TOMORROW 22 JUNE 2021

The market clawed back above day’s low and closed in the green as the market expects a faster economic recovery owing to the PM's announcement on free inoculation for all citizens. PSU Bank was the top sectoral performer on reports of the government finalizing Central Bank of India and IOB for privatization.

NIFTY PREDICTION FOR NEXT WEEK 21 JUNE TO 25 JUNE 2021

WEEKLY RESISTANCE FOR NIFTY: 15800, 15900, 16000

PIVOT POINT: 15700

WEEKLY SUPPORT FOR NIFTY:  15600, 15500, 15400

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15750, 15800, 15900

PIVOT POINT: 15715

DAILY SUPPORT FOR NIFTY:  15675, 15625, 15575

DAILY CHART FOR NIFTY

Our markets started the fresh week on a flat note; however, before anyone could realize Nifty was down around 200 points within the first half an hour to test the levels of 15600. This was followed by a bounce back and then consolidation for the major part of the first half. Subsequently, in the second half bulls again picked up momentum to erase all the morning losses and ended marginally in the green tad above 15800 levels. We had a gap up opening on Tuesday despite SGX was indicating a flat start. In the initial hour, Nifty reached yet another milestone of 15900; courtesy to banking space. During the remaining part of the day, Nifty remained in a slender range by maintaining its positive posture. Due to minor profit taking towards the end, Nifty ended around the midrange by adding nearly four tenths of a percent to the previous close. Markets had a nervous start Wednesday owing to sluggish cues from the global bourses. In the initial trade, it attempted to move higher but failed to sustain as it approached the 15900 mark. This led to a decent profit booking in the subsequent hour. The corrective move seemed to have arrested around the midsession and in fact, market made one more attempt to rebound in the latter half. However, a tail end correction across the board dragged Nifty at its lowest point of the day. Eventually, Nifty ended the session with more than half a percent cut to close tad above 15750. Market ended lower for the second consecutive day on June 17 amid weak global cues after US Fed signaled higher rates in 2023 in its policy outcome on Wednesday. At close, the Sensex was down 178 points at 52323, and the Nifty was down 76 points at 15691. On Friday markets fell sharply today with financials and metal stock leading the losses. The Sensex was down over 700 points when it hit 51601 at day's low while Nifty breached 15500 levels. This fall in the market can be attributed to the combination of these two reasons — Fed changing its stance on interest rate earlier this week and China announcing to use its metal reserves to check metal price rise

NIFTY: A STRONG SUPPORT WILL BE @ 15700; STRONG RESISTANCE LEVEL SEEN @ 16000

15700 was a crucial support for the index which on a closing basis was disrespected yesterday. This definitely affects the short-term trend of the Nifty. It is also important to note that this break of 15700 has happened on the back of high volumes. There is every possibility the markets correct till 15200-15300. We would need to evaluate the medium-term trend thereafter. The resistance is now at 15800 and any bounce can be used to short the market.

TECHNICALLY SPEAKING.

Technically, not much has changed from Friday’s close and in fact, the Nifty has been hovering around the 15800 mark for the last one week. If we observe the intraday hourly chart, the Nifty is gyrating within a range where 15600 is acting as strong support whereas on the higher side some tentativeness is seen around the 15800 levels. The bulls are still adamant as one or another sector is holding the markets up and dips are getting bought. However, we continue to have a view that if the benchmark has to test the levels of 16000 and beyond then the banking space needs to participate which has been an underperformer recently. However, if it fails then we may continue to see lethargic moves in the Nifty. Technically too, the trend remains intact till Nifty holds above 15,700 for an up move towards 16k mark. Globally, investors would cautiously track what action does other Central Banks take following Fed hawkish announcement. Domestically, monsoon, opening up of the economy in a phased manner and the pace of vaccination going forward would decide the further direction of the market. Most of the positives (easing of COVID-19 restrictions due to fall in daily infections) are already factored in by the market. It still looks to be a buy-on-dips kind of market. So, at lower levels, we might see some buying coming in and that could give a support to the market,

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 JUNE 2021

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After a volatile session, Nifty formed a hanging man sort of candle pattern on the daily chart. Strong strength has been seen in Nifty from lower levels, which suggest bulls managed to grab the opportunity from lower levels. Going forward, immediate base is coming near 15750-15700 zone. Any dip near the said levels will be a buying opportunity for the overall targets of 16000 mark. The immediate hurdle is coming near 15900-16,000 mark; the said levels will be profit booking levels on the higher side.

NIFTY PREDICTION FOR NEXT WEEK 14 JUNE TO 18 JUNE 2021

WEEKLY RESISTANCE FOR NIFTY: 15900, 16000, 16100

PIVOT POINT: 15800

WEEKLY SUPPORT FOR NIFTY:  15700, 15600, 15500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15850, 15900, 15950

PIVOT POINT: 15750

DAILY SUPPORT FOR NIFTY:  15700, 15650, 15600

DAILY CHART FOR NIFTY

Nifty started the week on a positive note and continued its exercise of making new records and marked a high of 15773 yesterday. The trading range for the day was not much large and the index posted gains of about half a percent and ended around 15750. Nifty started the Tuesday session marginally positive but it corrected from the opening level and entered sub 15700 in the first hour of the trade. However, the index then recovered from its lows and ended the day marginally in the red around 15740. Nifty started the Wednesday’s session marginally positive and inched higher towards the 15800 mark around noon. The market breadth was positive and just when it looked that the index is geared to surpass that hurdle, it took a U-turn and declined sharply. Before anyone could realize, Nifty corrected almost 200 points from the high and then even entered sub15600 level. With a mild recovery from intraday low, Nifty ended the day with a loss of over 100 points at 15635. Post the volatility ahead of the weekly expiry session on Wednesday, the indices showed some pullback in Thursday’s session and managed to end the day tad below 15750 with gains of over 100 points.

NIFTY BANKNIFTY: A STRONG SUPPORT WILL BE @ 15600; STRONG RESISTANCE LEVEL SEEN @ 16000

Markets have moved from resilience to exuberance as bulls continue to march towards mount 16,000 in Nifty with sector rotation and earnings keeping the momentum alive. Falling US bond Yields along with supportive global cues are ensuring Nifty doesn't break key support levels. Good monsoon, improving Covid situation and falling VIX should keep markets driving higher.

TECHNICALLY SPEAKING.

Markets have moved from resilience to exuberance as Bulls continue to march towards mount 16,000 in Nifty with sector rotation & earnings keeping the momentum alive. Falling US Bond Yields along with supportive global cues ensure Nifty didn’t break key support levels. Good monsoon, improving Covid situation & falling VIX should keep driving markets higher. The Nifty  was fine this week - it is heading towards 15900-16000. A buy on dips is a better strategy to adopt as opposed to buying at the current market level. This is because the risk is to reward ratio is more favorable when traders accumulate positions on dips. The risk is lower and the targets are higher. The index has good support at the 15600 levels and until we do not disrespect this level on a closing basis, the overall trend remains bullish.

NIFTY PREDICTION FOR NEXT WEEK 10 JUNE 2021👇

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Market Slips From Record High To Close In The Red Amid Volatility.Nifty Slips 105 Points To 15635 After A Trading Range Of 233 Points. The Sensex Falls 405 Points To 51871 & Banknfity 285 Points To 34801. Nifty declined sharply for the day as Nifty was not able to hold on to the gains seen in last couple of weeks. Nifty saw a long red candle and the way Nifty has declined it bears to reason that one must take precautions to at least reduce some open trades. 

NIFTY PREDICTION FOR NEXT WEEK 7 JUNE TO 11 JUNE 2021👇

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WEEKLY RESISTANCE FOR NIFTY: 15700, 15850, 16000

PIVOT POINT: 15500

WEEKLY SUPPORT FOR NIFTY:  15350, 15200, 15000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15650, 15750, 15850

PIVOT POINT: 15600

DAILY SUPPORT FOR NIFTY:  15500, 15400, 15300

DAILY CHART FOR NIFTY

We had a flat start to the week on Monday morning and in fact, in the initial trade, there was some mild negativity seen in the market. But similar to the recent trend, market absorbed the pressure and then resumed its upward momentum, once again led by the giant RELIANCE. As the day progressed, the buying momentum continued to first reach the new milestone of 15500 and in the final hour 15600 became the reality as well. Eventually, the Nifty ended the session with nearly a percent gains. Tuesday session started higher to post a new high beyond 15600. However in the absence of few heavyweights’ contribution, market could not extend the lead; in fact, we saw some minor profit taking in the first half. This was followed by a complete lull for the remaining part of the session. Eventually Nifty ended the session slightly below 15600 with negligible losses. Wednesday’s session started on a sluggish note owing to mixed global cues. As the day progressed, the index extended its losses a bit due to some profit booking in the few heavyweights. However post the mid-session, the sudden buying emerged at lower levels which pulled the index higher to conclude the session with a negligible gain in Nifty. Markets opened higher on Thursday at new highs as suggested by the SGX Nifty early in the morning. During the first half, market came off marginally but reversed from midway after partially filling up the opening gap. The buying momentum accelerated in the final hour of the session to reach yet another milestone of 15700. Eventually the weekly expiry panned out tad below this by marking daily gains over seven tenths of a percent.Market ended lower Friday after the RBI kept the key policy rates unchanged while maintaining an accommodative stance. The Sensex fell 132 points, to close at 52100, while the Nifty settled 20 points, lower at 15670. 

JUNE 2021 AN ACTION PACKED MONTH 🎬🎬

2 June 2021 MPC Will Start A 3-Day Conference, Sundaram Finance Holdings Close The Rights Issue.  

4 June 2021 RBI Will Announce Its Credit Policy.

11 June 2021 April IIP Numbers Are Expected. On The Same Date, The Supreme Court Will Hear On The Term Loan For The Interest-Free Moratorium.  

14 June 2021, The CPI And WPI Numbers Will Be Released

15 June 2021, Mandatory Hallmarking On Gold Jewelry Will Be Applied 

18 June 2021, The Changes In Closing On FTSE Global Index Will Take Place 

18 June-1 July 2021 Emphasis To Start The Open Offer. 

21 June 2021 the Sensex, To Implement The Rebalancing. In A Major Reshuffle, Gunjan Shah Will Take The Charges As CEO In Bata India From 21 June.

24 June 2021 the June series will expire and from the July series, F&O will make the changes in the Nifty lot size. Instead of 75, the new lot will be 50 from July 2021.

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NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 1 JUNE 2021

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Fresh breakouts, fresh highs and fresh closing seen in today’s session as index managed to closed a day at 15575 with gains of nearly one percent. Benchmark indices continued the gaining momentum on May 31 with Nifty hitting fresh record high of 15606. intraday session supported by the metal, energy and banking stocks. The Nifty50 hit a fresh record high on Friday but the Sensex is still 1000-point away from its last high of 52516, recorded on February 16, 2021.

NIFTY PREDICTION FOR NEXT WEEK 31 MAY TO 04 JUNE 2021👇

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WEEKLY RESISTANCE FOR NIFTY: 15550, 15750, 15950

PIVOT POINT: 15000

WEEKLY SUPPORT FOR NIFTY:  15350, 15150, 15000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15500, 15600, 15700

PIVOT POINT: 15450

DAILY SUPPORT FOR NIFTY:  15400, 15300, 15200

DAILY CHART FOR NIFTY

Nifty today finally managed to breach its previous all-time high of 15,431 made in Jan’20 - touched new all-time high of 15455. On Monday staring of the week market ended marginally up, after trading flat for the most part of the session. The Sensex gained 111 points at 50652, while the Nifty settled just below 15200 on fag-end buying. On Tuesday Market witnessed a positive opening following reports of next set of stimulus measures and declining covid cases while a selling streak in banking stocks forced the market to shed its morning gains and close flat. As per the reports, the central government is preparing the next set of support measures to minimize the second wave's economic impact, especially for worst-hit sectors. Double rejections at 15250 yesterday, one each at the opening hour and the closing hour, had raised the possibility of a pullback today. So, even though, opening burst took Nifty shortly past 15250, it could not sustain, lending a weak bias through the first half of the day. This was mostly led by banks. However, positive global cues, as well as expectations of sectoral stimulus, held Nifty together, with metals as well as IT leading the charge. Market ended with little change on May 25 in the highly volatile session with selling seen in the financial names. At close, the Sensex was down 14 points at 50637, and the Nifty was up 10 points at 15208. Market ended higher Wednesday boosted by IT, auto and financial stocks as continued fall in domestic COVID-19 cases improved investor risk appetite. Positive Asian market also lifted sentiment. The Sensex gained 380 points to end at 51017, while the Nifty settled 93 points higher at 15301. Nifty started the day on a positive note and maintained a bullish bias throughout the day. Although it did not post any huge gains, the broader market was buzzing amidst which Nifty managed to end tad above 15,300 with gains of six-tenths of a percent.

Markets traded volatile and settled marginally in the green on the day of monthly expiry of May month contracts on Thursday. The benchmark indices witnessed a firm start but profit taking at higher levels capped the upside as the day progressed. Meanwhile, volatile swings witnessed across the board wherein banking showed tremendous resilience while oil & gas and realty traded subdued and ended lower. The Nifty closed at a record high, while the Sensex closed above the 51000-mark on Thursday. Asian markets witnessed mixed close, with shares indices Japan hovering near Wednesday's close. US GDP and jobless claims data are expected later in the day.

NIFTY BANKNIFTY: A STRONG SUPPORT WILL BE @ 15200; STRONG RESISTANCE LEVEL SEEN @ 15600

We are expecting the Nifty to move towards 15800-16000 zone in the coming weeks. While major support is now placed at 14900 and 14600 zone. Crucial support for the banking index is placed at 33200 and then 32000 zone. On the flipside, immediate resistance can be seen around 36500 and 37700 zone.

TECHNICALLY SPEAKING.

The overall structure of the market remains positive as investors are upbeat about unlocking of economy in June which will help revive commercial activities. Technically, Nifty is poised towards an up move to life time high of 15431 and 15500 zones while on the downside support exists at 15200- 151000 zones. Hopes of further stimulus by government is bolstering investor confidence. As the 2nd Covid-19 wave continues to recede in India and pace of vaccination expected to pick up from next month, we expect the long term fundamentals to remain intact. Rising global inflation is a worry but is unlikely to hurt India, unless energy prices start picking up. 

NIFTY PREDICTION FOR NEXT WEEK 24 MAY TO 28 MAY 2021👇

WEEKLY RESISTANCE FOR NIFTY: 15200, 15350, 15500

PIVOT POINT: 15000

WEEKLY SUPPORT FOR NIFTY:  14800, 14650, 14500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15175, 15275, 15375

PIVOT POINT: 15100

DAILY SUPPORT FOR NIFTY:  15050, 15000, 14950

DAILY CHART FOR NIFTY

Markets continues with its recent trend where the opening on Monday happens with either upside or a downside gap. For the second straight week markets started the week on a pleasant note owing to some of the cooling off across the globe. Subsequently there was a brief period of consolidation being witnessed in our market as we immediately saw the momentum picking up in the upward direction. Throughout the remaining part of the session, the Nifty went on to post handsome gains over one and half a percent to reclaim the 14900 mark with some authority. . Very much on expected lines, we kick-started the tuesday with a bang beyond the psychological barrier of 15000 and then extended the lead in the initial hour. After cementing its position above 15050, we witnessed some consolidation for the major part of the day. Eventually the index managed to reclaim 15100 on a closing basis by adding another percent to the bulls’ kitty. The global uncertainty reappeared Tuesday night and the way other global peers were trading Wednesday morning, the gap down was eminent in our market as well. Fortunately, we did not start as lower as the SGX was indicating. In fact post the weak opening, our markets recovered completely in the initial trades. However at higher levels, there wasn’t enough strength to go beyond 15150 – 15200 levels. Hence for the remaining part of the day, we remained in a negative territory and kept flirting with the 15050 mark. Eventually, the dull session ended below this point by shedding nearly half a percent to the previous close. Markets witnessed profit taking for the second day in a row and lost nearly a percent. After opening on a flat note, the benchmark traded lackluster however selling pressure in the latter half pushed the index lower. On the sector front, Metal, Banking & Oil & Gas were the top losers wherein Consumer Durables and Capital Goods ended with gains. At close on Thursday, the Sensex was down 337 points at 49564, and the Nifty was down 124 points at 14906. on Friday market built on gains clocked through the day and ended nearly 2 per cent higher on Friday after India's largest public sector bank, State Bank of India, reported a healthy quarterly show. The lender's net profit zoomed over 80 per cent to Rs 6,451 crore in Q4FY21 as it set aside lower provisions and expected asset quality to improve going forward.  Supported by rally in other financial stocks, the BSE barometer of 30-shares ended at 50,540 levels, up 976 points or 1.9 %. Both the indices hit their respective highs of 50,591 and 15,190. 

NIFTY: A STRONG SUPPORT WILL BE @ 14800; STRONG RESISTANCE LEVEL SEEN @ 15500

We are very much poised to test the record highs soon or may even go beyond it. Before this, 15220 – 15340 are the levels to watch out for. On the flipside, the previous resistance zone of 15050 – 14970 is likely to act as a sheet anchor now. although the financial space did not move to the tune of last week  gigantic rally, it still has the lion’s share in pushing the Nifty beyond the sturdy wall of 15000.

TECHNICALLY SPEAKING.

The psychological level of 15200 has proved to be a stiff resistance for the index. We reacted quite sharply and fell over a 100 points. However since 15000 is held on a closing basis, the overall market trend remains bullish. If we break 15000 there will be a reason for concern as if we disrespect that, we could slide down to 14800. On the upside there is still room to achieve a target of 15300-15500. All dips or corrections can be utilized to enter long positions. India VIX moved up 1.72% from 19.31 to 19.65 levels. The fear gauge needs to hold below 20 level to extend the bullish market momentum. On the options front, maximum Put Open Interest stood at 14,000 level followed by 14,500 while maximum Call OI was seen at 15,000 level followed by 15,500. Call writing was seen at strike prices 15,000 and 15,500 while there was Put writing at 14,900 and 15,000 levels. Options data suggested a broader trading range between 14,700 and 15,200 levels.

NIFTY OUTLOOKOPTION TIPS FOR 18 MAY 2021

Dalal Street marched higher on the first trading session of the week. Bulls took control and pulled Sensex 1.7% higher to end at 49,580, while the Nifty closed at 14,923. Indian indices soared with solid gains led by banking, metal and auto stocks due to fall in infection cases. The market expects a rapid fall in daily reported Covid cases which helped to ease concerns over extended lockdowns and sharp correction in FY22 estimates. Banking stocks took a breather as it helped in soothing asset quality concerns.

NIFTY PREDICTION FOR NEXT WEEK 17 MAY TO 21 MAY 2021👇

WEEKLY RESISTANCE FOR NIFTY: 14800, 15000,15200

PIVOT POINT: 14600

WEEKLY SUPPORT FOR NIFTY:  14400, 14200, 14000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 14750, 14850, 14950

PIVOT POINT: 14650

DAILY SUPPORT FOR NIFTY:  14550, 14450, 14350

DAILY CHART FOR NIFTY

Nifty started this week on a gap up, but it then consolidated within a range throughout the day with a positive bias. Amongst a good stock specific action, Nifty managed to end with gains of eighteenths of a percent around 14950. The SGX Nifty hinted at a negative opening for our market on Tuesday and in line with that, we started the tuesday gap down below 14800. However, we did not slip much from the opening levels and the index recovered much of the losses around noon. But since the participation was missing from the index heavyweights, Nifty again corrected and ended the day at 14850. On Wednesday, our markets corrected in the first couple of hours on the back of weak global cues and tested the 14700 support. We witnessed some intraday pullback from there, but again indices corrected sharply as we approached the close and Nifty ended the day tad below 14700 with a loss of over a percent. Thursday market was closed on accounts on Eid. : Friday nifty opened lower and remained in a falling trajectory for the most part of the session. The Sensex ended at 48732 up 42 points while the Nifty settled at 14678, down 19 points. Indian equity markets remained largely range bound over the last week. The Covid situation in India is no doubt grim and hence the health issue is something that could keep markets volatile in the near term. Corporate earnings season for Q4FY21 is underway. So far the earnings reported have been largely in line with consensus expectation. Earnings have been led by strong performance in the banking and commodities sector. Going forward, market will likely track the pace of vaccinations, trajectory of active cases curve and management commentary of companies. Roll-back of localised lockdown and trend of inflation in many global commodities like crude oil and steel will be other key factors to watch-out by investors.

NIFTY: A STRONG SUPPORT WILL BE @ 14500; STRONG RESISTANCE LEVEL SEEN @ 14950

Nifty’s price structure since its April low shows ascending lows and descending tops. It represents that Nifty is stuck in a congestion phase. Immediate trading band is seen between 14,500-14,950 zone.

TECHNICALLY SPEAKING.

The markets have been range-bound between 14400 and 15000. In the short term, 14700 is good support for the index and we are hovering around that level. If we close below this level today, it might prove to be a bearish signal and we will have to review the charts on Monday when the new trading week commences. The Nifty will lose its upside edge if we break 14700 on a closing basis as that might take the index down to 14400.

NIFTY PREDICTION FOR NEXT WEEK 10 MAY TO 14 MAY '2021 👇

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WEEKLY RESISTANCE FOR NIFTY: 14900, 15100,15300

PIVOT POINT: 14700

WEEKLY SUPPORT FOR NIFTY:  14500, 14300, 14100

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 14850, 14900, 15000

PIVOT POINT: 14820

DAILY SUPPORT FOR NIFTY:  14750, 14700, 14650

DAILY CHART FOR NIFTY

On Monday market recovered from the early losses and ended on flat note in the highly volatile market on 3 may 2021 at close, the Sensex was down 63 points at 48718. Index opened a day with a strong gap down but managed to recover all day loses in the second half and closed a day at 14,634 with minimal loss & formed a bullish candle on daily chart. Market fell for the second times in three days on 4 May 2021 , following concerns over FPI selling in the recent past and further action expected to combat the Covid situation. Asian stocks were largely lukewarm on Tuesday as a continuous surge in COVID-19 cases kept investors on the sidelines amid holiday-thinned trade. .Nifty has come under pressure as India’s official tally of coronavirus infections surged past 20 million, IPL cricket tournament has been suspended with immediate effect and corporate management commentary remained cautious on Q1 performance due to lockdowns. Fears of stricter lockdowns also brought caution amongst traders. The indices erased all intra-day gains to end in the negative territory on Tuesday. The sensex ended at 48253, down 465 points while the nifty   closed just shy of 14,500. Indian market rose on 05 may 2021 after the RBI announced measures to further support the economy as coronavirus cases continue to surge. Volumes on the NSE were in line with recent averages. Among sectors, Healthcare, Banks and Metals were the main gainers while Realty was the loser. Nifty formed an inside day on Wednesday, meaning that the high low range for the day was within the high low range of the previous day. However the Nifty closed near its intraday high. Advance decline ratio too became positive.  Benchmark indices and broader markets closed with gains for the first time this week. The sensex closed at 48677 up 424 points. nifty  managed to end at 14617. The indices Sensex and Nifty have been witnessing volatility amid the second COVID-19 wave. Due to this, foreign institutional investors (FIIs) turned net sellers in the month of April, after being net buyers for six consecutive months. The US and other developed markets outperformed in the previous month, which encouraged near term shift of money. Sensex was just shy fo 4900 & Nifty was already above 14700 on the weekly expiry day Thursday 06 may 2021. Monsoon rains that mark the start of the four-month rainy season are likely to enter India through the southern coast around June 1, in line with typical patterns, a top government official said on Thursday. India’s weather office will issue its official forecast for this year's monsoon onset on 15 may 2021, Madhavan Rajeevan, secretary of the Ministry of Earth Sciences, said in a tweet. Indian benchmark indices rose for the third consecutive session on May 07. Nifty gained 1.3% over the week, gaining for the second consecutive week. Equity markets continued their upward march on Friday and closed the week’s last trading session with gains. The Sensex ended just above 49200 while the Nifty closed at 14823.

NIFTY: A STRONG SUPPORT WILL BE @ 14500; STRONG RESISTANCE LEVEL SEEN @ 15200

The markets have held 14800 smartly! We need to see if these levels can hold on Monday; if it can, we should be headed to 15000. If we do not hold, we will retrace back to the support levels of 14500. Holding 14400 is imperative for the Nifty.

TECHNICALLY SPEAKING.

Nifty closed the week with a marginal gain of 1.74%. The candle for the week is a bullish green candle that closed at the high of the week. Though we have not seen a range expansion. A candle with no lower shadow closing at the high of the week can be considered to be a bullish development. Nifty needs to break above 15000-15050 if the rally has to continue. From the weekly time frame, we can deduce that buyers have gain traction during the week. But the last point of resistance remains at 15000-15200 zones. The consolidation in Nifty is significant and if break above 15100-12000  materializes we should see a sharp rally in the weeks to come. If Nifty slips below 14600 expect some decline to the 14300-14200 zone.

NIFTY OUTLOOK & STOCK FUTURE LEVEL FOR 04 MAY 2021

A fantastic recovery led by metals with a host of stocks in the Indian markets from sugar to rice to tea and coffee kept the screen lively in a highly volatile trading session. Market recovered from the early losses and ended on flat note in the highly volatile market on 3 may 2021   At close, the Sensex was down 63 points at 48718. Index opened a day with a strong gap down but managed to recover all day loses in the second half and closed a day at 14,634 with minimal loss & formed a bullish candle on daily chart. 

The overall structure still looks cautious until trading below 14700 zones. On the higher side, index has stiff hurdle at 14750 -14825 zone, profit booking is suggested around said levels. Fresh breakout will be only above 14850 zone and good supports are placed at 14550 -14500 zone.

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Resistance: 14800, 15000

Support: 14600, 14400

NIFTY PREDICTION FOR NEXT WEEK 26 APRIL TO 30 APRIL'21

WEEKLY RESISTANCE FOR NIFTY: 14400, 14600,14800

PIVOT POINT: 14300

WEEKLY SUPPORT FOR NIFTY:  14200, 14000, 13800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 14375, 14475, 14575

PIVOT POINT: 14325

DAILY SUPPORT FOR NIFTY:  14275, 14175, 14075

DAILY CHART FOR NIFTY

This week trading begin on bearish note. Bears returned to Dalal Street and dominate Monday’s trading session, pulling down the market sentiment. market ended lower on April 19 amid fears of impact of the second wave of Covid-19 and the consequent lockdowns on the economy. Nifty has formed a second down gap in 5 days signifying the underlying weakness. However, the close today was near the intraday high thereby making a hanging man type of formation. This could mean some more upside recovery in the near term. However, at higher levels, markets will keep seeing repeated selling given the impact of Covid second wave on businesses and the economy. The Sensex closed 882 points lower at 47949 while the Nifty dived to close at 14359. Bears wreaked havoc on equity markets pulling down almost all segments of the market. The Delhi government on Monday announced a six-day lockdown in the capital city, after Covid cases there out numbers every other city in the country. Tuesday’s volatile session ended on bearish note. Nifty closed the day below 14300 mark at 14296 lower by 63 points sensex closed the day at 44705 down by 243 points. Indices were dragged down by selling in IT, financials and FMCG stocks. Wednesday market was closed on occasion of ram navami. On Thursday After opening on bearish note bulls shown some strength & took market above 14400 & closed the day 109 points up at 14406. The Sensex closed 374 points higher at 48080 Bank stocks came back from the lows with ICICI Bank gaining 3.6% to end as the top Sensex gainer. It was followed by HDFC, Bajaj Auto, and HDFC Bank. Titan, Hindustan Unilever and Asian Paints were the top drags. Volatility inched higher and closed above 23 levels. Bank Nifty was the top sectoral gainer. Amid increasing covid-19 cases, the domestic market recovered from its early losses backed by positive cues from global markets. The market has been going through a correction phase following increasing covid cases, in spite of the optimism due to vaccination drives. Though earnings outcome is expected to have stock-specific movements in the coming days, broader movement in the market will depend on fall in covid cases. On Friday Sensex closed 202 points, lower at 47878 while the Nifty closed 65 points down at 14341. Markets sought to ignore a potential hike in US capital gains tax to nearly 43% for wealthy individuals. The result was a bounce from opening lows, but the optimism as such could not sustain and profit booking emerged as Nifty approached the 10-day exponential moving average. Traders seemed reluctant to carry overnight gains into the weekend, amid rising COVID-19 numbers

NIFTY: A STRONG SUPPORT WILL BE @ 14200; STRONG RESISTANCE LEVEL SEEN @ 14500

The market failed to show resilience to stay above 14,400. While it is subject to further price action evolution, the technical factors are aligned to support a lackluster market movement going forward.  Any corrective wave down should find support around 14200 -14000. Traders should refrain from building a fresh buying position until we witness a correction till 14200 -14000 or a breakout above the 14500.

TECHNICALLY SPEAKING.

he focus of the investors and nation has shifted to sudden rise in Covid cases. The central government has said that they don’t intend to announce national lockdown to control the Covid infection and has also advised State governments to use lockdown as last measure. However, many states have announced varied degrees of restriction on movement of people depending on the severity of the situation in their region. This is expected to impact the economy in this quarter and there have been downgrades to India’s growth in FY22 by upto 1%. The pace of vaccination will be crucial for quicker normalisation of economic activity. The corporate have started announcing results for the March quarter and there are no major disappointments so far. Consensus is expecting sharp increase in net profit due to the Covid-led disruption in the base quarter. It will be important to observe comments of Banking and domestic consumer oriented companies about impact of recent surge in Covid infection on their business.  Nifty is trading at 21 times 1 year forward EPS, which is close to all time high. Hence upside from valuation rerating is limited and one needs to watch if there are any earnings downgrade due to emerging Covid situation. We have seen the recovery in the market from the level of 14200 yesterday and we expect the market to continue to sustain the level and continue the rally till the level of 14,500-14700. The market could range in between the levels of 14200 -14500 as the uncertainty looms in the market. On the sectoral front, the market has been mixed with no clear direction though the power sector has gained some momentum and has helped the market to stay positive.

Will Rising Covid Cases Turn Market More Volatile Next Week?

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 19-04-2021 TO 23-04-2021

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WEEKLY RESISTANCE FOR NIFTY: 14700, 14900,15000

PIVOT POINT: 14500

WEEKLY SUPPORT FOR NIFTY:  14300, 14100, 13800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 14650, 15000, 15100

PIVOT POINT: 14600

DAILY SUPPORT FOR NIFTY:  14500, 14400, 14300

DAILY CHART FOR NIFTY

Our markets started the week with a gap down on back of worries over  rising  cases  of Covid-19  in our  country  in this  second wave.  Our markets  completely  ignored  the  global  cues  yesterday  and  post  the gap down, we witnessed a sell-off across and ended the day tad above  14300, with a deep cut of over three and a half percent. On Tuesday, Nifty started marginally positive and approached the level of 14450 in the first hour of the trade. This level coincided around the previous support which now was the immediate resistance. The index hesitated there and pared the gains before noon itself to sneak below 14300. The  index  consolidated for  a  while  in a  range and when it looked that the market was unable to sustain at higher level, the index once again  made an attempt  to  surpass the morning highs. With  the help  of  the  Banking  and  Financial  space,  Nifty  rallied  sharply  in  last couple of hours and ended the day tad above 14500, marking gains of almost 200 points. Wednesday market was closed due to baba ambedkar jayanti. Nifty started the weekly expiry day Thursday marginally positive as the IT giant Infy opened with a gap down post its results. Nifty then corrected for the initial couple of hours to mark a low around 14350. Market witnessed volatile session but manages to end near the day's high level on April 15 despite rising covid cases and wholesale inflation data. At clsoe, the Sensex was up 259 points at 48803, and the Nifty was up 76 points at 14581.  The benchmark indices ended marginally higher on Friday amid positive cues from global markets. At the end of today's session, the Sensex was hovering around 48800 while Nifty 50 closed above 14600. 

NIFTY: A STRONG SUPPORT WILL BE @ 14300; STRONG RESISTANCE LEVEL SEEN @ 14900

We have already seen a week full of action in a couple of sessions with indices showing sharp swings on  both the  days.  Nifty  breached its short term support on Monday, but it reclaimed the 14500 mark next day. The sharp recovery certainly seems enticing, but still we advise not to  get  carried  away  as  we  may  still  not  be out  of  the  woods. The bearish  gap area and  the  ‘20-day exponential moving  average’  at 14700-14900 remains a sturdy wall which could be difficult to surpass.

TECHNICALLY SPEAKING.

A continued surge in the second wave of COVID-19 cases in the country, which already crossed 2 lakh daily cases, has certainly posed a risk to the sustainability of the rebound of earnings momentum. While the government's strong effort to expedite vaccination progress and absence of complete lockdown in Maharashtra and Delhi offered some comfort to equities, the risk of other states taking steps of wider economic restrictions continues to persist, which may continue to weigh on investors' sentiments in the near term. Overall if we see, major indices have gone nowhere as it was a week of boredom and consolidation for them. There were one or two odd days when we witnessed some action in index heavyweights; but didn’t last too long as breakout attempts on either sides were turned unsuccessful. In the upward direction, we were seeing 14900 as a crucial hurdle on a closing basis and after nearly twelve trading sessions, bulls attempted to break this barrier on an intraday basis; but failed to maintain at the close. So 14800 – 15000 continues to remain a sturdy wall and till the time we do not surpass it, major heavyweights are not going to give any sustainable up move. Yes, at the same time, it’s not falling either; in fact the undertone remained bullish for the major part of the week. On the lower side, 14400 followed by 14200 are to be seen as immediate supports.