Nirmala Sitharaman’s Stimulus Failed To Lure Stock Market

FM Nirmala Sitharaman’s stimulus failed to impress stock market , package had more to do with fixing supply-side issues than catering to demand-side issues. The FM announced Rs 3 lakh crore collateral-free loans and 50000 crore equity infusion in MSMEs; Rs 90,000 crore liquidity infusion in discoms and 50000 crore relief on TDS and TCS among others. Market participant do not expect the Rs 6 lakh crore announcements to give any boost to the economy in the short term. market was a bit disappointed because the immediate spend out of the big fiscal stimulus is relatively small and there could be doubts on whether economic growth will revive soon and in proportion to the large number of the stimulus. Indian markets opened on a negative note following overnight negative close in US markets as US Fed warned that the coronavirus crisis raises longer-term growth concerns and could result in an extended period of low productivity growth and stagnant incomes. During the afternoon session the markets further weakened as truncated WPI data further added to pessimism which showed deflation in primary articles to 0.79% in April-20 as against inflation of 3.72% in March-20; food inflation cooled to 3.60% in April-20 from 5.49% in March-20. T he benchmark indices wiped out all the previous session gains with Nifty ended below 9150 level on May 14 on the back of profit booking amid weak global cues. At close, the Sensex was down 885 points at 31122, and the Nifty was down 240 points at 9142.

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Bulls shown good strength before closing Tuesday session, indices staged a sharp recovery after buying in the second half and the Nifty closed just below 9,200-level. The Sensex fell 190 points to 31371 while the Nifty was down 42 points at 9196 at close. Fast rising Covid-19 cases in India and the second wave of infections in multiple countries, including Wuhan in China, gave stock market bears enough ammunition to push benchmark indices lower on Tuesday. Weak global market mood also weighed on the market sentiment back home.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 12 MAY 2020

A rangeboound trading session, in continuation of a prevailing consolidation phase ended on flat note. The nifty opened with strong gains, following supportive global cues but the pressure in the index majors mainly from the banking space erased all the gains by the end. However, rebound in the auto and IT majors capped the downside. The Sensex erases entire gains, ends 81 points lower while Nifty slips below 9250 mark & closed at 9239 , after making intraday high of 9439 & low of 9219.

NIFTY WEEKLY REPORT & VIEW FOR NEXT WEEK 11 MAY TO 15 MAY 2020

WEEKLY RESISTANCE FOR NIFTY: 9500, 10000,10500

PIVOT POINT: 9000

WEEKLY SUPPORT FOR NIFTY:  8800, 8500, 8000
WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 9500, 9700, 10000

PIVOT POINT: 9100

DAILY SUPPORT FOR NIFTY:  8800, 8600, 8400

DAILY CHART FOR NIFTY

Our markets started the new trading week with a massive gap down of 400 points. In fact, the selling momentum continued throughout the remaining part of the day to eventually conclude tad below the 9300 mark by shedding more than 550 points. Monday’s massive cut was followed by a good bump up at the Tuesday opening; courtesy to some relief move in global peers. This was followed by some consolidation in the first half as index kept flirting slightly above Monday’s close. However, in the latter half, the selling momentum aggravated across the board and as a result, the Nifty not only pare down all gains but also went on to close with a cut of nearly a percent. After two days’ of pain, we started marginally in the green on Wednesday. But it was merely a formality as we saw index taking a nosedive in initial trades. At one point, things looked extremely bleak as we hastened towards 9100 within a blink of an eye. Fortunately, a strong buying at lower levels lifted markets higher. During the second half, there were some wild swings seen on both sides but the bias remained positive and as a result, Nifty concluded well above the 9200 mark. Thursday morning, our markets opened flat and then immediately fell in-line with SGX Nifty. During the initial hour, we saw some marginal recovery, but this rebound immediately got sold into. During the remaining part, the Nifty consolidated in a slender range to conclude the weekly expiry precisely at 9200.Indian domestic market ended in green on Friday after erasing most of the morning gains. sensex ended 200 points higher & nifty ended the week near 9250 mark.

NIFTY: A STRONG SUPPORT WILL BE @ 8500; STRONG RESISTANCE LEVEL SEEN @10000

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 8 MAY 2020

The Sensex and Nifty resumed decline after a say's breather in the previous session and ended on a weak note amid rising coronavirus cases in the country. The Sensex fell as much as 323 points and the Nifty slumped below important psychological level of 9200. The Sensex ended 242 points lower at 31443 and Nifty declined 56 points to close at 9215. India reported 3561 new cases of coronavirus in the last 24 hours, taking the total to 52952, government data shows. The highly infectious virus has claimed 89 lives during the same period.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 5 MAY 2020

Bulls legs shaken on the 1st trading session of May month. Market lost 4 days winning spree as the tension is rising between US-China over coronavirus. Market indices slipped nearly 6% on 4 may 2020. At close, the Sensex was down 2002 points at 31715, and the Nifty was down 566 points at 9293. Nifty went near 9900 mark on last Friday as it made a high of 9889.

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Bulls continued to rule the street and hit the 9500 mark successfully a day before the F&O april expiry in line with other Asian markets, amid heavy buying in metal and auto shares. Extending gains for the third consecutive session, The Sensex ended 605 points higher at 32720 and Nifty rose 172 points to 9553.  Other world markets were on a rise today amid rising oil prices as France, Spain and Italy moved to ease anti-virus controls and allow businesses to reopen. U.S. markets closed slightly negative as investors awaited results from Facebook and Microsoft and FOMC rate decision later in the day.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 28 APRIL 2020

A flat trading session ended on bullish note for the second consecutive day on April 28 with Nifty finished near 9400 level. At close the Sensex was up 371 points at 32114, and the Nifty was up 98 points at 9380. Investors stay anxious about a possible announcement of relief package by the government. Over the next few days, investors are expected to track the government’s exit plan after lockdown and company results. Among major results expected today, Axis Bank is expected to announce its March quarter results. Globally, stock markets seem to be stabilizing as nations around the globe have either eased or planning to ease some lockdown rules, allowing resumption of key economic activity.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 27 APRIL 2020

Market started on bullish note led by strong global cues amid heavy buying in IT and financial stocks. The Sensex closed 415 points higher at 31743 and Nifty ended 127 points higher at 9282. Markets globally were trading in the positive on Monday, ahead of a busy week for earnings and central bank meetings. Federal Reserve and the European Central Bank meet later in the week, while Bank of Japan has begun the policy meeting today. The Sensex closed 415 points higher at 31743 and Nifty ended 127 points higher at 9282.

NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 28 APRIL TO 2 MAY 2020

WEEKLY RESISTANCE FOR NIFTY: 9390, 9470,9550

PIVOT POINT: 9200

WEEKLY SUPPORT FOR NIFTY:  9100, 9000, 8800
WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 9300, 9375, 9450
PIVOT POINT: 9200

DAILY SUPPORT FOR NIFTY:  9150, 9100, 9050

DAILY CHART FOR NIFTY

Our markets started with a decent upside gap to kickstart the new trading week. However it turned out to be a formality and within first 15 minutes, the index eventually coupled with the Nifty and other global bourses. During the remaining part of the day, index kept flirting with the positive and negative territory to conclude on a flat note. Yesterday, it was a day of consolidation as Nifty kept gyrating within the slender range of 100 points. We had a muted session on Monday but overnight there was unprecedented fall seen in Crude oil prices which spooked traders’ fraternity across the globe. As a result, our markets opened on Tuesday with more than 200 points downside gap and then kept sinking to test the 8900 mark. Due to some mild recovery towards the fag end, the Nifty eventually closed tad below 9000 by shedding three percent as compared to the Monday’s close. Nifty indicating a sluggish start on Wednesday began half a percent higher; courtesy to a bumper opening in heavyweight RELIANCE INDUSTRIES after the announcement of Facebook-Jio deal. However, similar to previous session, the index declined after the opening ticks in first half an hour of trade. But this time, the dip had come not to extend the correction but to rally higher. Post the initial hour, we saw strong buying emerging across the board, mainly in financial stocks, which accelerated as the day progressed to recoup major chunk of previous day’s losses. Thursday, our markets opened higher by shrugging off what Nifty had indicated. During the initial trade, Nifty came off a bit; but as expected, this early morning dip got bought into. In fact the buying momentum accelerated as the day progressed to eventually conclude the penultimate weekly expiry above the 9300 mark.Market extended losses Friday as hopes faded for a quick turnaround for the global coronavirus pandemic. The Sensex ended the week at 31327, down 536 points while Nifty lost 160 points to settle the week at 9154 levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 23 APRIL 2020

Market ended on bullish note with Nifty closing near to 9200 level supported by the deal between Reliance Industries and Facebook Inc.The deal between Facebook and Reliance is a positive for Reliance Industries coming under the current trying times. The two can combine their unique strengths using their network of users, share their data, develop apps for  social, digital payments, gaming, shopping, flight and hotel bookings, etc. The combination of whatsapp expertise and user base, R Jio’s vast subscriber base and Facebook’s deeply entrenched user base and technology is theoretically a win-win for all. With European markets expecting an ease in lockdown measures, Indian markets will also be looking forward to news regarding the peaking of infections, so that the economy may be opened for business as soon as possible.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 21 APRIL 2020

Choppy start of the week, Uncertainty ruled the market. A volatile trading session ended on flat not due to lack of direction from earnings results or the global markets. Market sentiments were mixed regarding the recovery in corporate earnings, post easing of lockdown measures, and effectiveness of RBI measures to infuse liquidity into the financial system. The Sensex closed 59 points higher at 31648, while Nifty was down 5 points at 9261.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 17 APRIL 2020

After a bearish opening on back of global cues, the market bounced back and gave a strong recovery. Moreover, most of the time of the first half, the index traded in a range bound move, though after giving a breakout of the same, nifty made a high near 9090 level. During the trading session, we saw a good move in Banknifty compared to Nifty and settled with the gain of 2.3%. At present level, the nifty have a good support at 8800 while upside resistance comes at 9100, if the Index sustains above 9100 then we may see an upside movement up to the level of 9300.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 16 APRIL 2020

After starting on a promising note, the market indices slipped into the negative territory and ended with around a per cent loss on Wednesday as worries over economic downturn due to the extension of the nationwide lockdown weighed on the investor sentiment. Additionally, IMF's Tuesday‘s statement  that the global economy faces the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic also dented the investor confidence.  The Sensex slipped 310 points to settle at 30380 levels. The index hit a high of 31568 levels during the day. The banknifty declined over 2% to 19057 levels. Nifty shed 68 points to 8925 levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 APRIL 2020

Nifty opened the week on a flat note on Monday April 13, 2020, but started correcting from first trade. It fell around 200 points within first hour of trade and then remained in sideways direction for the remaining part of the session. Despite the negative close, market breadth remains marginally in favor of the advancing counters. Nifty failed to hold 9000, & investors eyed PM Narendra Modi addressed on lockdown on 14 April 2020 at 10.00 AM & as expected prime minister declared that lockdown to be extended till 3 may 2020 as the Covid 19 cases are increasing in country. Nifty rallied almost 20% to hit 9000 mark on 13 april 2020. The Sensex ended 469 points lower at 30690, while Nifty was down 118 points at 8993. The market is shut today April 14 on account of Dr Babasaheb Ambedkar Jayanti.

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NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 13 APRIL TO 17 APRIL 2020

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WEEKLY RESISTANCE FOR NIFTY: 9200, 9500,9700

PIVOT POINT: 9000

WEEKLY SUPPORT FOR NIFTY:  8700, 8500, 8300

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 9100, 9200, 9300
PIVOT POINT: 8950

DAILY SUPPORT FOR NIFTY:  7900, 7800, 7700
DAILY CHART FOR NIFTY

Nifty and Sensex snapped a seven-week losing streak, jumping about 13% in three sessions to Thursday. The indices recorded their best week since May 2009 and closed at three-week highs. As Monday market was closed on accounts of Mahavir jayanti , trading for the week started from Tuesday. Tuesday 7 April 2020 belongs to bulls. Before closing the market nifty hits the upper circuit.   Market is largely being driven by developments on the coronavirus front. A sustainable recovery would happen only when the cases start to recede in India and lockdown is eased gradually. Due to weak global cues market indices shown weakness in the last `hours of trading session in Wednesday, after some respite in Tuesday & Wednesday’s morning session. The Sensex traded above 29800 levels, with a cut of over 200 points while the Nifty was back below the 8750 level after surging as high as 9131 earlier iin the session.  The Sensex ended 170 points lower at 29893 while Nifty slipped to 8748. Banknifty slipped 116 points to 18946. Friday market is closed on accounts of Good Friday.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 8 APRIL 2020

Tuesday 7 April 2020 belongs to bulls. Before closing the market nifty hits the upper circuit.   Market is largely being driven by developments on the coronavirus front. A sustainable recovery would happen only when the cases start to recede in India and lockdown is eased gradually.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 7 APRIL 2020

With negative closing on the mast week ended Friday, the market fell for seven consecutive weeks for the first time since June 2008. The Sensex and Nifty have cracked 33% each in the last seven weeks. The  Sensex crashed nearly 700 points on Friday, led by losses in banking stocks, as investor sentiment remained jittery amid concerns over the COVID-19 pandemic and its economic impact. After hitting a low of 27500 during the day, sensex ended 674 points, lower at 27590. Similarly, the Nifty 50 settled below the 8100-mark at 8083, down 170 points. Despite day to day volatility, the Nifty has witnessed a parabolic sharp downside if we look at the weekly charts. Presently, the weekly charts are deeply oversold and despite the tentative trade setup, a technical pull back can be positively expected. If the immediate intraday low is held, the chances of a technical pullback would increase even if there is no confirmation of any temporary base in place. 

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WEEKLY RESISTANCE FOR NIFTY: 8500, 9000,9500
PIVOT POINT: 8000

WEEKLY SUPPORT FOR NIFTY:  7500, 7000, 6500
WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8200, 8300, 8400
PIVOT POINT: 8050

DAILY SUPPORT FOR NIFTY:  7900, 7800, 7700
DAILY CHART FOR NIFTY

Manic Monday Market indices were not having a good start of the week. Sensex tanks over 1000  points to close at 28440 & Nifty gone below 8300-mark to close the day at 8281. bears ran riot with coronavirus cases rising in India and abroad, taking lives and forcing businesses to shut down. Along with that a ceaseless dumping of stocks by the foreign investors is also weighing on investor sentiments. Tuesday was the day for bulls. Stock market bulls marched on Dalal Street with heads held high on the last trading day of fiscal year FY20 as relatively better factory output data from China supported the investor sentiment. Some support also came from the report that the government has put off implementation of the uniform stamp duty on transfer of capital market instruments to July 1, 2020. sensex today closed 1028 points higher at 29468, while Nifty rose  316 points to close at 8597. The see-saw battle between the bears and the bulls continued on Dalal Street with the former dominating Wednesday’s session amid a rise in coronavirus cases in India. Worries surrounding a sharp drop in GDP growth rate also hit investor sentiment on Dalal Street. India has reported a sharp rise in new coronavirus cases in the last couple of days, indicating a community transmission. The country has reported nearly 1,400 confirmed cases of Covid-19 including 35 deaths and 123 discharged patients. The Sensex tanked 1203 points to 28265 & Nifty dropped 344 points to 8254. Thursday market was closed on occasion of ramnavami. Friday market continued downward trend, the market settled with over 2 % loss on week ended Friday as coronavirus (Covid-19) cases showed no signs of abating. Global confirmed cases surpassed 1 million on Thursday with more than 52000 deaths. Back home, an ongoing 21- day lockdown has already brought the economy to a standstill. The Sensex ended at 27591, down 674 points, while the Nifty index ended at 8084, down 170 points.

NIFTY: A STRONG SUPPORT WILL BE @ 7500; STRONG RESISTANCE LEVEL SEEN @8500

Let see how things shape up on the global front now. If we see the relief move getting extended in global markets, we would see some extension of this week move in our markets. For the coming session, 7500-7000 remains to be a key support; whereas on the higher side, 8500-9000 is the level to watch out for. If Nifty has to continue some relief move, the Nifty needs to surpass this hurdle convincingly to head towards 9500.

TECHNICALLY SPEAKING.

 Nifty, Sensex were still under the attack of bears. . For the next week, 7800 will be seen as crucial support on closing, below which the next support will be seen around 7500. Hence, if we see some negative opening in the next week, the follow-up move post opening will be important to determine the near term move. On the higher side, 8500-8700 has become a crucial resistance for the index for the near term. Looking at the current market swings, we continue with our advice for traders to avoid aggressive bets and trade with a proper exit strategy.