NIFTY WEEKLY PREDICTION & CHARTS FOR 18 DEC TO 22 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10435, 10470, 10500

PIVOT POINT: 10350

WEEKLY SUPPORT FOR NIFTY:  10300, 10250, 10200

WEEKLY CHART FOR NIFTY

WEEKLY RESISTANCE FOR NIFTY: 10435, 10470, 10500

PIVOT POINT: 10350

WEEKLY SUPPORT FOR NIFTY:  10300, 10250, 10200

WEEKLY CHART FOR NIFTY

The volatile week has ended on bullish note after exit polls predicted a clean sweep for PM Narendra Modi-led Bharatiya Janata Party (BJP) in the recently held elections in Gujarat and Himachal Pradesh. On Friday the Sensex rose 216 points to 33462. A lot of consolidation has happened in this past week. This week nifty future opened at 10259 made a high of 10400 and low 10163 and finally closed at 10356, Total 237 points movement was there in nifty future this week.
MARKETS TO FOCUS ON UPCOMING EVENTS

Now all eyes are on upcoming event risks -- two state election results due on 18 December (stakes are higher in Gujarat), the winter parliament session, November trade numbers, and fiscal developments, which will dictate near-term action. Monday will see the levels of 10450 and 10500 playing out as important resistance for the index future. Supports come in at 10300 and 10250 zones. 

TECHNICAL SPEAKING

 Nifty closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 10300 to 10330. Resistance for the index lies in the zone of 10350 to 10370. If the index manages to close above these levels then the index can move to the levels of 10400 to 10450. During the week the index manages to hit a high of 10400 and close the week around the levels of 10370.

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Tug of war between bulls & bears, finally bulls won. On Thursday market closed volatile session on bullish note as the Sensex rallied 193 points to 33246 while nifty closed 70 points up at 10285 ahead of Gujarat exit polls later in the evening that usually indicate the likely winner ahead of official results. Prime Minister Narendra Modi's government is hoping a big win in the state would bolster the ruling Bharatiya Janata Party's electoral prospects ahead of general elections in 2019. European stocks were slightly lower as investors reacted to the US Federal Reserve's decision to raise interest rates. Nifty future has opened at 10259 made a high of 10296 and low 10163.

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Tuesday belonged to the bears…!!! Bears took the  charge in the final hour of trade today. The Sensex ended over 200 points down, while the Nifty was below 10275-mark. Investors are having an eye on what the US Federal Reserve will do as well as how the second round of polling will progresses in Gujarat.  The Sensex closed down 227 points at 33228, while the Nifty was down 81 points at 10264. Investor remained cautious that higher global crude oil prices would stoke inflation and impact future interest rate decisions by the Reserve Bank of India. The Nifty settled has opened at 10332 made a high of 10337 & low of 10254, total 83 points nifty future has moved in intraday.  The banknifty future fell over 1 % after gaining 2.2 % in the last three sessions. Banknifty future has opened at day’s high 25399 & made a low of 10254 & finally closed at 25165 total 239 points banknifty future moved in intraday. ICICI Bank, Axis Bank, and HDFC Bank fell over 1% while oil marketers Hindustan Petroleum Corporation Ltd, Indian Oil and Bharat Petroleum Corporation lost as much as 2-4%.

NIFTY PREDICTION & FREE NIFTY TIPS FOR 12 DEC 2017

On expected lines, the Nifty on Monday opened with a gap on the higher side at 10317 and rose to an intraday high of 10354. It slipped marginally to 10302 in morning trade but bulls pulled the index to close above 10350 level. The index rose 52 points during the day to close at 10352. The key support level is placed at 10275, followed by 10235. If the index starts to move higher, key resistance levels to watch out are 10375 and 10422. The Nifty Bank closed at 25420. Important level, which will act as crucial support for the index, is placed at 25300, followed by 25200. On the upside, key resistance levels are 25500, followed by 25600. Investors await Federal Reserve policy decision and exit poll on Gujarat assembly elections.

NIFTY WEEKLY PREDICTION & CHARTS FOR 11 DEC TO 15 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10330,10370,10410,10450

PIVOT POINT: 10225

WEEKLY SUPPORT FOR NIFTY:  10200, 10180, 10150, 10100

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10315, 10335, 10375

PIVOT POINT: 10250

DAILY SUPPORT FOR NIFTY:  10220, 10175,10150

DAILY CHART FOR NIFTY

The Nifty future has started the week on positive note. On Monday rangebound trading session was there due to the RBI’s two-day monetary policy review kicks off on Tuesday and the decision was given on Wednesday. The market posted a biggest drop after the announcement of RBI kept repo rate unchanged to 6% on wednesday rbi policy review. RBI Governor Urjit Patel said the credit flow is already better than last October also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicated tough fight for the BJP in Gujarat also dampened market sentiment on Wednesday. The Nifty future has settled below its crucial psychological level of 10100 on Wednesday. Bulls came back in action on Thursday. They managed to make nifty cross the hurdle of 10175-10200. Finally after a tough fight with bears, bulls won the Friday. The Sensex surged 301 points to close at 33250. The Nifty future too went past the 10250-level & closed near 10300 level at 10290. 

MARKETS TO FOCUS ON GUJARAT ELECTIONS

Hopes that the Bharatiya Janata Party  would win critical elections in Gujarat beginning this weekend has contributed to the positive sentiment. An election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month. According to polls, BJP is expected to win, but the seat count would be lower than what they were vocal about. If they do win, I think markets will take it positively. We may see the same uptrend continued next week also due to Gujarat election polls which is due on 9th & 14 Dec 2017 while results will be out on 18 Dec. Though we expect a quiet start, the follow-through rally to continue with the levels of 200-DMA acting as important support. The levels of 10350 and 10450 will act as immediate resistance levels for the market. Supports come in at 10200 and 10050 zones.

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 11 DEC 2017

Market benchmark Sensex surged 301 points to close at 33250 today on unabated buying by domestic institutional investors amid positive global leads. The Nifty future too went past the 10250-level. The Sensex opened on a strong footing at 33034 and maintained its upward trend to hit the day’s high of 33285 before ending at 33250, up 301 points. The index had rallied 352 points in the previous session on value-buying by investors in recently-battered blue-chip stocks. The Nifty future finished the day at 10290, a hefty gain of 87 points, after shuttling between 10297 and 100211. On a weekly basis, the Sensex gained 417 points, while the Nifty advanced 143 points. Buying by retail investors and domestic institutions has gathered momentum amid strong global cues. Hopes that the Bharatiya Janata Party (BJP) would win critical elections in Gujarat beginning this weekend has contributed to the positive sentiment. Elections in Prime Minister Narendra Modi's home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

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The Market posted a biggest drop after the announcement of RBI kept repo rate unchanged to 6%. RBI Governor Urjit Patel said the credit flow is already better than last October also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicating tough fight for the BJP in Gujarat also dampened market sentiment. The state is slated to go to polls in two phases — on December 9 and 14. Results will be declared on December 18.The Nifty future settled below its crucial psychological level of 10100. Index future has opened at 10111 made a high of 10126 and low 10052 finally closed at 10074. The Sensex was down 205 points at 32597 and the Nifty Bank plunged 273 points at 24942.

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Pull-back rally was there in the market on Tuesday. The Nifty50 remained rangebound throughout the day and ended the session on a flat note. Both the indices Nifty future & sensex closed marginally lower as investors adopted a cautiou ahead of the Reserve Bank of India’s policy decision tomorrow 6 Dec 2017 Market is expected to remain rangebound as all eyes would be on the much awaited RBI policy decision. The RBI’s two-day monetary policy review kicks off today and the decision is due tomorrow. The Street largely expects the central bank to maintain status quo on rates, on account of various factors. Also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicating tough fight for the BJP in Gujarat also dampened market sentiment.

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Market settled with small gains after witnessing volatility in intraday trade. Monday morning blues were written all around, but the Indian domestic indices forecast to make positive gains tracking cues from global indices and Nifty, scuttled out in the noon session.  The Sensex closed higher by 36 points to 32869, while the Nifty future rose 6 points to close at 10127. The nifty future opened at 10167 made a high of 10198 & low of 10126 & finally closed 11 points up at 10166.

NIFTY WEEKLY PREDICTION FOR 4 DEC TO 8 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10250,10300,10350,10400

PIVOT POINT: 10320

WEEKLY SUPPORT FOR NIFTY:  10100,10050,10000,9950

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10180, 10220, 10250

PIVOT POINT: 10200

DAILY SUPPORT FOR NIFTY:  10120,10100,10070,10050

DAILY CHART FOR NIFTY

Lackluster trading week ended on negative note. The data failed to lift sentiment fiscal deficit reached 96% of the budgeted target for the fiscal year ending in March 2018. Both indexes were down around 1.7 % this week, heading for their biggest weekly loss since late September. The Sensex plunged over 316 points and the Nifty holds 10100 level  as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country's fiscal deficit and global risk factors such as rising crude prices.

GDP GROWTH

GDP grew 6.3% in the July-September quarter, with robust expansion in manufacturing, electricity production and trade and hotels sectors. This is higher than the 5.7% GDP growth in the April-June quarter, but lower than the 7.5% growth in the second quarter of last fiscal.

The Nifty future took a sharp cut on Friday and settled the week at the 10143 level. For a good part of the week, the 10250 level was providing a major support to the index. But it closed below the crucial support on Friday. This may trigger further correction in the nifty. The Nifty future corrected around 300 points this week. It continued its weakness whole week and corrected towards 10100. If it sustains below 10100, short-term weakness could be seen towards 10050 and a swing low of 10000. The index could see the immediate hurdle at 10250. The index has settled below the 20-day moving average and was on the verge of breaching its 50-day moving average. The pace with which the Nifty future has fallen suggests the trajectory of the index might have changed its course to the downside. Thursday’s move has erased gains of last seven sessions, which the bulls added laboriously after a gap up opening on November 17. In such a scenario, if the fall continues, then it should take the indices below 10000 level to complete the corrective pattern.

NIFTY ON EXPIRY DAY 30 NOV 2017

The market closed marginally lower on Wednesday ahead of November future and options expiry and September-quarter gross domestic product (GDP) data. Traders are cautious ahead of GDP data due to be released on Thursday. The Sensex fell 15 points to 33602 and Nifty was down 9 points to 10361 level on a day marked by rangebound trade.  While the Nifty future moved in a range of 10365 to 10400, the Sensex traded in a wider range of 33553 to 33728.

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The Nifty future closed eighth consecutive session in positive territory backed by banking & financials. It’s slow but steady heading towards higher levels with some consolidation in short term. It made a high of 10425 levels & closed to 10423.  Positive European cues also pushed market higher. The Sensex rose 45 points to 33724 and the Nifty gained 13 points at 10423.

NIFTY WEEKLY PREDICTION FOR 27 NOV –1 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10411,10434,10456,10490

PIVOT POINT: 10343

WEEKLY SUPPORT FOR NIFTY :  10321,10298,10264,10230

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10420, 10438,10449,10460

PIVOT POINT:10402

DAILY SUPPORT FOR NIFTY :  10380,10360,10344,10315

DAILY CHART FOR NIFTY

Sensex opened the week at 33356, made a high of 33724, low of 33299 and closed the week at 33704. Thus the Sensex closed the week with a gain of 407 points. At the same time, the Nifty opened the week at 10297, made a high of 10424 low of 10276.80 and closed the week at 10417.50Thus the nifty closed the week with a gain of 109 points. The Sensex and Nifty ended higher for a seventh straight session on Friday as IT firms gained.

HOLD LONG POSITION IN NIFTY WITH SL OF 10250

As predicted by us in our last weekly report “nifty will trade towards 10420, 10500” and exactly same happened rally of bulls was continuing in this week. They managed to pull nifty above the support levels of 10250 .and achieved target of 10420. And for now nifty seen as a support levels at 10310 and the resistance level at 10440.

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Market rose for sixth day in a row led by gains in Infosys and Reliance Industries. However, the gains were capped as HDFC twins witnessed some amount of selling pressure. Market ended the session on a positive note after the rangebound day of trade. The Sensex closed up 26 points at 33588, while the Nifty was up 6 points at 10348. 

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Markets closed Wednesday's session higher, extending gains to fifth session in a row.  The markets opened almost 100 points above previous closing and kept the gains intact through the day as the Nifty PSU Bank sub-index proving to be the pivot of the Street once again, surging more than a percent. The Sensex closed on 33561; up by 83 Points while the Nifty future gained 8 points to close on 10360, it has opened at 10383 made a high of 10388 & low of 10321.

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It was a spectacular start to the market on Friday as the Sensex rallied more than 400 points after Moody's upgraded India's sovereign rating to Baa2. However, it lost steam later shedding nearly half of gains in last hour of trade due to extended sell-off in technology stocks and weak global cues.  The Sensex gained 236 points at 33342 and the Nifty rose 9 points to 10318. Nifty future has opened at 10297 made a high of 10342 and low of 10276.

NIFTY WEEKLY PREDICTION FOR 20 NOV –24NOV 2017

WEEKLY RESISTANCE FOR NIFTY: 10335,10350,10376,10402

PIVOT POINT: 10321

WEEKLY SUPPORT FOR NIFTY :  10280,10266,10254,10240

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10326, 10393,10440,10488

PIVOT POINT:10259

DAILY SUPPORT FOR NIFTY :  10211,10164,10098,10030

DAILY CHART FOR NIFTY

Sensex opened the week at 33275, made a high of 33489, low of 32736 and closed the week at 33297. Thus the Sensex closed the week with a loss of 57 points. At the same time, the Nifty opened the week at 10342, made a high of 10373 low of 10125 and closed the week at 10298. Thus the nifty closed the week with a loss of 50 points. The Sensex soared over 400 points intraday and the Nifty raced past 10,300 as international rating agency Moody’s has upgraded India’s sovereign bond rating to Baa2 from Baa3 with a stable outlook and also noted continued progress on economic and institutional reform will enhance India's high growth potential. 

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The Nifty future opened with a big gap 10344 on the upside but failed to hold onto momentum and closed at 10298 below its opening levels making a small bull candle kind of pattern on the daily charts on Friday. The index which started with a bullish note after rating agency Moody’s, upgraded Indian government bond rating to Baa2 from Baa3, while changing the outlook to stable from positive came as a big surprise to the market. The Nifty future opened at 10344 and rose to an intraday high of 10373. But, the index witnessed profit booking at higher levels as the index recorded an intraday low of 10292 before closing the day at 10298 up 48 points.

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As predicted by us in last post the resistance level 10275 was not broken today but roller coaster ride of bulls helped nifty to make a high of 10265 which proved the action of bulls. Nifty future has opened at 10174 made a high of 10265 & low of 10162 total 103 points nifty future has moved in intraday. Now if nifty future manages to cross 10275 tomorrow then bears may vanish from the market. & 10350 can be the achieved tomorrow.

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Resistance: 10300, 10350, 10400
Support: 10200, 10150, 10100