NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 26 OCT TO 30 OCT 2020

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WEEKLY RESISTANCE FOR NIFTY: 12000, 12100,12200

PIVOT POINT: 11900

WEEKLY SUPPORT FOR NIFTY:  11800, 11700, 11600

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12000, 12050,12100

PIVOT POINT: 11930

DAILY SUPPORT FOR NIFTY:  11900, 11850, 11800

DAILY CHART FOR NIFTY

The Asian markets were trading with a positive bias on Monday morning which led to an optimistic sentiment and hence, our markets too started the week with a gap up. Nifty then consolidated within a range throughout the day and ended with gains of almost a percent at 11873. On Tuesday Nifty opened on a flat note and moved higher till noon up to 11950. However, the index then gave up the intraday gains and consolidated within a range to end the day tad below 11900. Wednesday our markets started the session with a gap up opening, courtesy to the banking stocks which continued with its positive momentum. The midcaps too joined the upmove and thus, it looked that the index will take out the 12000 mark easily to kick start the next leg of upmove. However, in the later half, the index suddenly nosedived and within no time, Nifty sneaked below 11800 from 12000 mark. But it was not over yet, the index showed a V-shaped recovery in the last hour and ended this highly volatile session well above 11900. The global cues were marginally negative in the Thursday morning and in line with that, Nifty started the session below 11900. The index oscillated within a narrow range throughout the session and ended the weekly expiry day tad below 11900 mark. Friday Sensex gained 127 points to settle at 40686 levels while Nifty ended at 11930, up 34 points. 

NIFTY: A STRONG SUPPORT WILL BE @ 11700; STRONG RESISTANCE LEVEL SEEN @12200

If we observe the chart of the Nifty, it seems to be poised for a breakout from the recent consolidation phase. On looking at the charts, it seems to be a high probability of the index breaking in upward direction, but traders are advised to wait for a confirmation to place aggressive bets in the midcaps. As far as Nifty levels are concerned, 12000-12200 continues to be immediate resistance zone and the next leg of upmove would be seen only on a move beyond the same. So traders are advised to keep a tab on the both the indices as a breakout in both the indices simultaneously should lead to a good upmove in the broader markets. On the flipside, 11700 has become a sacrosanct and if the index breaks that, then it could result into profit booking in the market.

TECHNICALLY SPEAKING

This week’s price action can be divided into two parts where the first half was more of a consolidation with no major movement and the latter one brought some volatility in the market. We managed to clock the psychological mark of 12000 but failed to sustain there. In fact, due to sudden sell off in global markets on Thursday on the fears of a second wave of coronavirus hitting the major European countries, we witnessed a sharp decline in our markets. Fortunately, there was no follow through to this as we saw modest recovery to end the week well above 11700. In the last couple of weeks, we have seen a remarkable recovery in our market after testing the 200-SMA level of 10800. Since the move was extremely swift and markets had a winning streak of 10 straight sessions before Thursday, any uncertainty was likely to trigger profit booking and this is exactly what we have seen. Now, purely looking at charts, this down move should only be interpreted as a pull back towards the recent trend line breakout points. This coincides with the 20-day EMA level of 11600. Hence, all eyes would be on this level in the forthcoming week. However, since the fall has to do with the global uncertainty, it would be important to see how things pan out there and if things worsen, we may see the market correcting further. A close below 11600 would apply brakes on the recent optimism and we may then see some extended correction in the market. Till then there is no reason to worry as we may see markets resuming the strength beyond 11850-11900 to surpass the 12000 mark convincingly. In the week gone by, we witnessed some sectoral shift in the market in the second half. The recent outperforming IT space had seen some decent profit booking along with Reliance; whereas on the other side, the banking which was considered to be a laggard has shown some serious strength to support the market. Hence going ahead, if Nifty has to resume the uptrend, the banking clearly plays a vital role in this. Apart from this, Midcaps are yet to perform and hence, the breakout in this index should bring back some excitement in the traders’ fraternity. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 23 OCT 2020

Market broke the 4-day winning streak and ended lower with Nifty settled below 11900 dragged by the pharma, IT and banking names.Nifty traded lackluster in a narrow range and ended lower amidst weak cues. Initially, feeble global cues were weighing on the sentiment but failed to trigger any major fall. Consequently, the Nifty index settled at 11896; down by 41 points. On the sector front, Telecom, Capital Goods and Metals were the top gainers whereas IT, Banking and Healthcare ended with losses. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 22 OCT 2020

Bulls done very well for themselves today.  Nifty managed to end in the green in a highly volatile session. After the bullish start, the nifty remained sideways in the first half however volatile swings in select index majors in the latter half unsettled the participants. On the sector front, Realty, Telecom and Metals were the top gainers whereas FMCG and IT ended with losses. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 21 OCT 2020

Market rose for the third straight session on October 20 amid mixed global markets. At close, the Sensex was up 112 points at 40544, and the Nifty was up 23 points at 11896. The markets have entered into a range bound zone - between 11700 and 12000. For an impulsive move to trigger, we would need to get past one of these levels on the back of good volumes. Until then traders are advised to maintain caution.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 20 OCT 2020

After opening with a gap, the Nifty did not do much thereafter. We moved in a 50-70 point range. Today markets ended firmly in the Green despite profit booking witnessed in Autos & Pharma as we saw spirited buying in Financials with good support from the FMCG space.Market ended higher for the second consecutive session on October 19 with Nifty above 11850 supported by the financial, metal and FMCG stocks. At close, the Sensex was up 448 points at 40431, and the Nifty was up 110 points at 11873. As we inch closer to the US Elections the street is bracing towards volatile markets ahead.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 19 OCT TO 23 OCT 2020

WEEKLY RESISTANCE FOR NIFTY: 11800, 12000,12200

PIVOT POINT: 11700

WEEKLY SUPPORT FOR NIFTY:  11500, 11300, 11100

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11800, 11900,12000

PIVOT POINT: 11700

DAILY SUPPORT FOR NIFTY:  11600, 11500, 11400

DAILY CHART FOR NIFTY

Trading for the week started with a good upside gap as indicated by the Nifty early in the morning. Within the first five minutes of trade, Nifty conquered the milestone of 12000, which is the outcome of the stupendous recovery from the March lows in such a short span. In fact, in the last couple of weeks also, we had a remarkable rally after testing the 200-day SMA around 10800. Post the initial hour, the market witnessed some profit booking at higher levels, which was then followed by a consolidation to conclude the day on a flat note. Tuesday morning, global cues were sluggish and hence, we had a flat opening in the absence of any triggers. Subsequently, Nifty vacillated within the narrow band of 11900 – 12000 throughout the remaining part of the session. In fact, the overall movement was so choppy; the market was unable to hold any direction. Eventually, the day ended on a muted note and Nifty managed to hold the 11900 mark convincingly. Wednesday, global cues were a bit subdued early in the morning and despite this, our markets opened lower and then extended losses as the day progressed. The weakness was mainly led by the IT counters that were experiencing heavy profit taking after a recent relentless run. Then banking joined hands to drag the markets lower. But all of a sudden at the stroke of the penultimate hour, markets just took off and financials were the major charioteer to this late surge. Eventually, Nifty not only recouped losses but also ended well inside the positive territory. Despite unfavorable global cues, we kick started the Thursday session at the seven month high above 12000. However this gap up opening turned out to be a formality as we came off sharply in the initial trades. Markets stabilized from the hiccup; courtesy to complete recovery in banking stocks. Once again, this rebound got sold into which then became a nightmare for the bulls post the midsession as markets took a complete nosedive on the fears of a second wave of coronavirus hitting major European countries. This resulted in a similar trading session we witnessed on 31st August to mark more than a couple of percent losses.

NIFTY: A STRONG SUPPORT WILL BE @ 11500; STRONG RESISTANCE LEVEL SEEN @12200

As far as levels are concerned, the base has shifted higher and the previous resistance area of 11700 – 11800 should now be treated as a strong support. On the flipside, we are very much close to the psychological mark of 12000. The moment it’s taken out, we may see a steady move towards 12200 – 12400 levels. Since, the banking index is back to 200-day SMA on the daily chart and the way it closed with complete gush in the space, a move beyond 24000 would provide strong support to the benchmark index. However, we would like to highlight that since the move is extremely swift, anytime we can see some intraday profit booking and hence, one needs to position accordingly and be very fussy in stock selection.

TECHNICALLY SPEAKING.

In the last couple of weeks’ rally, global markets played the major part as we are seeing some gravity defying moves despite some in between uncertainty. Initially, in our recovery mode, we were a bit skeptical but in the first half of the week, we had to admit the miss and eventually started participating in the move. The way Nifty surpassed the 31st August high of 11794 with some authority and is now within the kissing distance of 12000, the positivity is likely to extend further. Importantly, the banking space which was following the benchmark in the entire recovery finally showed some dominance on Friday. This factor is very much in favor of the bulls, which may provide impetus for the extended rally. it will be then considered as a healthy rally. Let see how things pan out in the next couple of sessions.  ‘Bearish Engulfing’ pattern at the top was something very similar to what Nifty50 witnessed on August 31 at the 11,800 level. August’s candle was followed by a significant decline in the index towards the 10,800 level, he said.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 13 OCT 2020

To sustain the market trend, a lot will depend on the size and effectiveness of the stimulus. Cash voucher and advance scheme, sops to government employees, failed to cheer the market as it did not provide the required boost to the economy as expected. It is anticipated that there will be more measures revealed in the future. The market will look forward, with high hopes on Q2 results and an end to the moratorium saga. IT, Banks and FMCG will be the sectors under focus, in the near-term.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 12 OCT TO 16 OCT 2020

WEEKLY RESISTANCE FOR NIFTY: 12000, 12200,12400

PIVOT POINT: 11900

WEEKLY SUPPORT FOR NIFTY:  11700, 11500, 11300

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11950, 12050,12150

PIVOT POINT: 11900

DAILY SUPPORT FOR NIFTY:  11800, 11700, 11600

DAILY CHART FOR NIFTY

Nifty continued with its previous week’s momentum and started the week with another gap up opening. The index surpassed the 11500 mark and rallied to register a high of around 11580. At noon, we saw some tentativeness and the index corrected back upto 11450, but then we again saw some pullback at the end and Nifty reclaimed 11500 mark at the close. Positive cues from the global markets led to another gap up opening for Nifty on Tuesday. Post the gap up, the index consolidated in a range for most part of the session and then it rallied higher in the last hour of the session to end at its highest close in last seven months. In spite of the sluggish cues from the global markets, Nifty started the Wednesday session on a positive note and surpassed the 11700 mark. Post a surge in the first hour of the trade, the index consolidated with a positive bias throughout the session and ended at new seven month high. Nifty started the Thursday session with another gap up opening well above the 11800 mark. It continued the momentum and even tested 11900; however, some profit booking was seen in the penultimate hour due to which the index gave up some of the gains and ended around the opening levels, up by almost 100 points. The rally continued on the seventh straight day on October 9 with Nifty closing above 11900 and Sensex added over 300 points.   Sensex and Nifty ended near the day's high mainly supported by the banking names after Reserve Bank of India kept the Repo Rate unchanged at 4% and continued with the accommodative stance.   At close, the Sensex was up 326.82 points at 40509, and the Nifty was up 79 points at 11914

NIFTY: A STRONG SUPPORT WILL BE @ 11500; STRONG RESISTANCE LEVEL SEEN @12200

We are entering into the weekend with a strong closing where the Nifty is not very far from the 12000 price mark! 12200-12300 is a potential target which the index is capable of achieving during the course of this month. 11500 is a good support level.

TECHNICALLY SPEAKING.

Nifty on the weekly chart formed a long bull candle and the whole chart pattern now indicate a larger positive sequence of higher tops and bottoms. Hence, more upside could be in store in the near term to form a yet another higher top reversal at the new swing highs. The underlying trend of Nifty continues to be positive. The overall chart pattern signal more upside for the market in the near term. The upside targets to be watched for the coming week at 12200. Immediate support is placed at 11700.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 8 OCT 2020

Markets recovered quickly in Wednesday morning trade and traded in the Green throughout the day led by ahead of the RBI policy. Although the broader market was a bit lackluster, we did see sustained buying in cement and select pharma counters during the day. The upward journey of the benchmark indices continued on the fifth consecutive day on October 7 helped Nifty to close comfortably above 11700. At close, the Sensex was up 304 points at 39878, and the Nifty was up 76 points at 11739. Observation is that main indices have almost reached the last high, in context with a bounce in global and domestic economy. Going ahead the market may turn a bit volatile, in the short-term, as it will be difficult to maintain the momentum given important upcoming events of the US election and Q2 result season. Secondary indices of mid and small caps are under some resistance, as investors are risk averse at these levels. Stock wise positive or negative performance is expected to continue as per the expectation & actual performance of Q2FY21 result.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 6 OCT 2020

Markets started the week on optimistic note led by supportive global cues. The news reports that the US President is recovering well, aided market sentiments. After a strong opening, the Nifty index witnessed some profit-taking at higher levels but managed to end the session with gains of 0.8% to close at 11,503 levels. Markets are closely following global events and the upcoming earnings season would further add to the volatility. We suggest maintaining a positive yet cautious approach and giving preferring to index majors. Nifty has next hurdle at 11600. Overall setup and momentum is positive and a hold of recent zones could extend rally, while support exists at 11450 and then 11400 levels. It has been making higher top and higher bottom formation and supports are gradually shifting higher with medium term support at 11300. 

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Resistance: 11600, 11700

Support: 11450, 11300

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 1 OCT' 20

In the highly volatile session the benchmark indices ended with marginal gains on September 30 supported by the FMCG and IT stocks. The surge in coronavirus infections, an acrimonious buildup to US elections and geopolitical reasons kept volatility high & become a spoilsport. Nifty corrects significantly to stay in the 11000-11500 range.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 29 SEP 2020

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Strong global cues lead Indian market higher on the 1st day of the week. Market ended higher for the second day in a row on September 28 on the back of buying seen across the sectors. At close, the Sensex was up 593 points at 37981, and the Nifty was up 177 points at 11227. In last two days, market recovered 50% of losses seen in previous 6 sessions.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 28 SEP TO 1 OCT 2020

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WEEKLY RESISTANCE FOR NIFTY: 11100, 11300,11500

PIVOT POINT: 11000

WEEKLY SUPPORT FOR NIFTY:  10900, 10700, 10500

WEEKLY CHART FOR NIFTY

 

DAILY RESISTANCE FOR NIFTY: 11100, 11200,11300

PIVOT POINT: 11025

DAILY SUPPORT FOR NIFTY:  10975, 10900, 10800

DAILY CHART FOR NIFTY

It was one of the worst weeks for our markets in the recent past as the indices corrected sharply along with the broader market. There was no respite for any of the index as all the sectors, including the recent out performers took a sharp knock. Our markets started the week around the previous week’s close. The index traded within a range till noon, but it then corrected sharply on back of sell-off in the global markets and ended with a cut of over a couple of percent at 11250. Nifty started the Tuesday’s session marginally positive; however, it was mere a formality as we immediately witnessed correction and within first half an hour, Nifty sneaked below 11100. The index gradually pulled from the lows, but the bears continued their dominance and the pullback move was sold into to eventually end the day with a loss of about 100 points around 11150. On the back of positive global cues, we started the Wednesday’s session on a positive note, but once again our markets witnessed selling pressure and corrected by about 200 points from the opening level. However, we recovered some of the losses in the last hour of trade and ended the day marginally in the red. The negative global cues weighed down heavily on our markets on Thursday as the Nifty opened gap down and then corrected throughout the day to end with a loss of almost 3%. Friday the market witnessed correction as sentiments soured on Fed comments on weaker-than-expected economic recovery, increase in fresh Covid-19 cases in developed markets and on concerns of higher-than-expected credit costs in the banking sector in the near term. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 24 SEP 2020

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The market ended Wednesday's volatile session on a flat note ahead of the September derivative contracts expiry due on 24 Sep 2020 tomorrow. The Sensex slipped 66 points lower at 37668 levels; index had hit an intra-day high and low of 38140 and 37313 respectively.  After the huge selloff in the mid-session, the nifty finally managed to recover from its intraday low but finally ended in the red zone after the closing bell today. The Nifty dipped 21 points and closed at 11131 levels. Bank Nifty index added 39 points after closing at 21178 mark.

NIFTY OUTLOOK FOR 22 SEP 2020

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Bulls lost the ground. The Indian stock market witnessed a knee-jerk reaction to reports that some European countries are contemplating to reimpose lockdown measures as the COVID cases see a spike. Market started the 1st day of week positive & suddenly opening become like a dream as nifty corrected more than 250 points to close the day at 11250. Investors turned cautious considering surging COVID-19 cases across the country and the passage of a contentious farm bill by lawmakers in the upper house of parliament yesterday. Weak trading in European equity markets also added to the already negative sentiment on Dalal Street. The Sensex fell as much as 907 points to hit an intraday low of 37938.

NIFTY WEEKLY OUTLOOK & REPORT NEXT WEEK 21 SEP TO 25 SEP 2020

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WEEKLY RESISTANCE FOR NIFTY: 11600, 11800,12000

PIVOT POINT: 11450

WEEKLY SUPPORT FOR NIFTY:  11300, 11200, 11000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11550, 11600,11700

PIVOT POINT: 11450

DAILY SUPPORT FOR NIFTY:  11400, 11300, 11200

DAILY CHART FOR NIFTY

The global set up was just ideal Monday morning to have a head start for the new trading week. We began convincingly above 11500 and then slipped into a consolidation mode for the major part of the session. However post the midsession, the nifty took a nosedive and within a blink of an eye, we not only pare down gains but also sneaked well inside the negative territory. Fortunately a modest recovery at the end reduced the damage on a closing basis. The overnight rally in US markets had a rub off effect on almost all major Asian bourses. Hence, we too started the Tuesday session with a gap up opening despite Monday’s shaky session. Subsequently, similar to recent behaviour, index went into a consolidation mode and kept flirting around the 11500 mark. However from nowhere, a strong buying emerged in the banking conglomerates at the stroke of the penultimate hour. This pushed Nifty higher to end convincingly above 11500. We had a flat to positive start Wednesday despite Nifty indicating a sluggish start early in the morning. Similar to recent trend, the index consolidated in a small range throughout the first half. However, post the midsession, some strong buying emerged in banking as well as IT counters. This resulted into Nifty surpassing the intraday hurdle of 11570 to reclaim the 11600 mark. Thursday morning, the global markets looked nervous and hence, we were about to open lower after Wednesday's smart move. The Nifty was indicating a start below 11500 with more than 100 points cut; but fortunately, Nifty did not open in line with what nifty was indicating. In fact, post the initial hiccup, markets stabilized and recovered a bit. However, the global weakness eventually weighed down heavily and we corrected towards 11500 around the midpoint. Post this, some volatile swings were witnessed in a range of 50 points to eventually conclude the weekly expiry tad above the 11500 mark.

NIFTY: A STRONG SUPPORT WILL BE @ 11300; STRONG RESISTANCE LEVEL SEEN @11800

Indices seemed to have lost clear direction and are clearly trapped in a range. This week, we witnessed strong sell off from higher levels, it was almost the reverse action. With this week late surge in banking stocks, both Nifty as well as BankNifty are interestingly poised. For Nifty, if 11600 is taken out, we would see some extension towards 11700 - 11800 levels. On the flipside, 11400 followed by 11300 are to be seen as key supports.

TECHNICALLY SPEAKING.

Although, this week weakness in our market has to do with the global cues, we are not surprised with it. Despite a strong tail end surge of this week, we avoided longs and had mentioned the configuration of the 'Bearish Wolfe Wave' pattern on the weekly chart. The observation has certainly proved its significance this week; but honestly speaking, this week  correction was nowhere close to a sell-off, rather can only be interpreted as a small profit taking. But having said that we continue to remain cautious and still do not expect the Nifty to surpass the sturdy wall of 11650-11700 soon. Going forward, 11450-11350 would be seen as crucial support and a move below this would trigger some decent correction thereafter. Since US Dollar Index and Equity markets are inversely correlated, any surge in this would lead to correction in our markets. Hence, it is important to take a note of this development as well.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 18 SEP 2020

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Market closed lower on Thursday following Fed's statement of slow US economic recovery. The Sensex & Nifty erases yesterday's gains to close with a cut of nearly 1% each. Sensex slips 323 points to 38980 & Nifty 88 points to 11516. Nifty Bank falls 253 points to 2,320 & Midcap index 42 points to 17411. The Indian market ended near day's low on Thursday following losses due to losses in metal and bank indexes. Reliance Industries' dragged the market most, ending 1.19 percent lower. Other index heavyweights that dragged the market today are TCS and HDFC twins. Barring pharma, media and IT indexes, all others ended in red. Nifty Realty slipped the most amongst its peers, by 1.68 percent followed by Nifty Metal and Nifty PSU Bank. Dr Reddy, ZEEL, HCL, INFY and Maruti were the Nfity50 top gainers while Hindalco, Tata Motors, Shree Cement, Bajaj Finserv and Adani Ports remained the index top losers. There are currently no fresh triggers for the market and we can expect volatility. Market is more or less in a consolidation phase after a huge rally in the last few months, we believe. Traders are likely to look at global cues to decide the direction of the market. Now index has established an immediate support near to 11450 and 11400 while a hold above 11550 zones could again give an upper hand to bulls to drive the move towards 11600 and 11650-11700 zones.

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Resistance: 11550, 11650

Support: 11450, 11350

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 16 SEP 2020

After a one-day hiatus, market went back to winning ways on Tuesday encouraged by easing inflation and riding on positive cues from global markets. Hopes of an early vaccine also kept the mood sanguine. European market opened with gains, supporting investor sentiments. Meanwhile, India's retail inflation in August of 6.69% was lower than the 6.73% recorded in July, but it remains above the upper end of the RBI’s target. The Sensex rose 288, reclaiming 39000 level & closed at 39044. The Nifty advanced 82 points to 11522. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 SEP 2020

Monday market closed in red. The Sensex closed the day 98 points lower at 38756 While Nifty closed 24 points down at 11440. . Investors are also monitoring key developments into the race of vaccine to fight virus. The Fed will meet on 15-16th September but the market does not expect the policy makers to change guidance is on how long the rates will stay near zero, still it will be an important event. The US dollar has continued to drift lower hence the outlook for the yellow metal in intraday is positive.The Nifty closed the day near 11450 and formed a bearish candle on daily chart, as the closing was lower than the opening value. Considering the consistent weakness after the recent rally, we advise you to avoid long positions. The Nifty was decisively trading below its 50-day moving average and if it slips into some sort of multi-days downtrend, then corrective swing would get extended into the 11400–11300 zone. For the time being, strength in the index shall not be expected unless it closes above 11500 levels. Traders should avoid long positions and look for some signs of stability around 11550 whereas existing shorts should be squared off if the Nifty fails to close below 11600 in the next trading session.

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Resistance: 11500, 11600

Support: 11400, 11300 

HOW TO TRADE NIFTY OPTIONS INTRADAY?🤔

Yes, it is possible to trade nifty or stock options call put intraday. Many traders do it by opening a position at the start of the day and closing it at the end of market hours. The process to do intraday trade is similar to making any Options trade. However, keep an eye on two important data: volume and price fluctuation. There should be sufficient volume in the strike price so as to sell it whenever desired. Also, the index needs to have sufficient price fluctuations to make a profit in a day.

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