NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 11 DEC 2020

The market failed to show resilience to stay above the Nifty level of 13480-13500. While it is subject to further price action evolution, our research suggests the technical factors are aligned to support a range between 13290 and 13480. Therefore, we advise the short-term traders to use any short-term rally to exit while attempting to buy on dip approach to adopt. The market breadth to deteriorate, indicating the likelihood of higher volatility in the market. Any downwards corrective wave should find buying interest around 13290-13300.

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Resistance: 13550, 13600, 13650

Support: 13450, 13400, 13250

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 08 DEC 2020

The Indian market ended with modest gains on Tuesday dragged by Sun Pharma and Hindalco. Market closes with minor gains Sensex & Nifty post record close. Nifty gains 37 points to 13393 & Sensex 182 points to 45609. Banknifty advances 50 points to 30262 & midcap index 11 points to 20439.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 3 DEC 2020

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Market trimmed losses to end flat on Wednesday led by gains in metal, auto and IT sectors. However, gains were capped by a loss in financials and bank with both the sectors down over a percent each. The Sensex ended 37 points lower at 44618 while the Nifty rose 5 points to settle at 13114.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 27 NOV 2020

Nifty saw steep selling pressure on Thursday expiry day of November f&o settlement 26 nov 2020 after hitting a record high on Wednesday, as the index ended up forming a 'Bearish Engulfing' candle on the daily chart. The Indian benchmark equity indices, Sensex and Nifty ended 1 percent higher on Thursday led by robust gains in metal and banking stocks. All the sectoral indices ended in the green led by Nifty Metal that rallied over 4 percent. Rally in index heavyweights such as Tata Steel, Bajaj Finance, HDFC twins helped Nifty end the November series above the 12950 level. In an extremely volatile trading session, benchmark indices settled higher with more than 60-65% roll-over of open positions in the December 2020 series. With relaxation in SEBI norms in margin regulations.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 26 NOV 2020

After long run bulls took breathe on Wednesday market slumped on Wednesday, reversing Tuesday's record rally, following broad-based selling to lock in profits. All sectoral indices, barring the Nifty PSU Bank index, were deep in the red. India VIX, the fear gauge, jumped 10%.  Reversing gains made on Tuesday, Indian indices ended deep in the red today and in the process wiped out nearly 2 trillion worth of market capitalisation of BSE-listed firms. The Sensex ended nearly 1000 points off the day's high and 1.6% lower from previous close at 43828 while the Nifty lost 197 points to settle at 12858. Earlier in the session, Sensex had touched a record high of 44825 while Nifty had scaled13145 as investors cheered positive vaccine trial data and strong FII inflows.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 25 NOV 2020

Nifty touched another milestone today as it crossed 13,000 for the first time and settled around the day’s high as well. The bias was upbeat from the beginning, thanks to the news of the successful trial of another COVID vaccine with high efficacy. It hovered in a range in the middle while movement on the stock-specific front kept the participants busy. Markets are celebrating the successful vaccine trials, ignoring the recent spike in the cases. Indications are in the favour of the prevailing up move to extend further but the pace could be gradual. We reiterate our view to focus on the selection of sectors and stocks as we’re seeing rotational buying across the board.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 23 NOV TO 27 NOV 2020

WEEKLY RESISTANCE FOR NIFTY: 13000, 13100,13200

PIVOT POINT: 12800

WEEKLY SUPPORT FOR NIFTY:  12700, 12600, 12500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12900, 13000,13100

PIVOT POINT: 12850

DAILY SUPPORT FOR NIFTY:  12800, 12700, 12600

DAILY CHART FOR NIFTY

Nifty started the new Samvat & the new week with a gap up opening well above 12900 mark. It came off the opening high and then consolidated within a range of about 80 points throughout the day to end with gains of about three-fourth of a percent. Nifty started Wednesday on a flat note and witnessed a minor dip in the first couple of hours. The index managed to find support tad above the 12800 and then it witnessed upmove at the end to post gains of half a percent at close. Nifty started Thursday with a gap down following the negative global cues. However, the index recovered the losses post opening and even surpassed Wednesday’s high till noon. But then, the index again witnessed a gradual sell off and it breached the morning lows to end the day at the lowest point with a loss of more than 160 points. The market rebounded sharply on Friday, though could not recoup all its previous day's losses. The benchmark indices as well as broader markets participated in today's run up. On Friday Nifty closed at 12859, up 87 points and Sensex jumped 282 points to 43882

NIFTY: A STRONG SUPPORT WILL BE @ 12700; STRONG RESISTANCE LEVEL SEEN @13100

After respecting the short term support of 12750, the Nifty clawed back from negative territory in a jiffy. We notice inclining volumes when markets are rising which is testament to a strong upside momentum. There is every possibility that we will achieve 13100 next week.

TECHNICALLY SPEAKING.

We witnessed some swift recovery from its short-term support around the Nifty50 Index level of 12,750-12,730 in the market. The expected level should range between 12,750 and 12,950 and it’s going to be crucial for the short-term market scenario. Though, technical evidence is not supporting any bullish movement, however, the market may play in this range, eying on the possibilities for another round of stimulus in the US economy. The overall market momentum going forward will depend on the progress associated with the effectiveness of vaccine distribution, a major factor determining economic recovery.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 20 NOV 2020

After long run bulls took breathe on Thursday. The increasing virus infections raised fears of additional restrictions and considering its impact on global economic activity, global market sentiments turned negative. This was in spite of the optimism surrounding the advanced stages of vaccine development. Market also witnessed profit booking from recent highs, as investors turned cautious.  Deep cuts in the shares of Coal India (down 4.41%), SBI (down 4.40%), ICICI Bank (down 3.61%), JSW Steel (down 3.24%) and UltraTech Cement (down 3.15%) dragged the Nifty on Thursday, as nifty tanked 142 points to trade at 12796.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 17 NOV TO 20 NOV 2020

WEEKLY RESISTANCE FOR NIFTY: 12800, 12900,13000

PIVOT POINT: 12700

WEEKLY SUPPORT FOR NIFTY:  12600, 12500, 12400

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12750, 12850,12950

PIVOT POINT: 12650

DAILY SUPPORT FOR NIFTY:  12580, 12530, 12450

DAILY CHART FOR NIFTY

Monday’s gap up open around record highs was clearly a cheerful reaction to the final verdict that came over the last weekend. Post the initial opening, markets extended the lead marginally and then witnessed some profit booking for nearly a couple of hours. However, since the overall undertone is still so strong, this small intraday dip was bought into to drive the Nifty to a new high of 12474. With Monday’s up move, Nifty has added another one and half a percent to the bulls’ kitty. Monday evening, global markets, especially Dow futures, just blew out after the news of advancement of COVID - 19 vaccines. At one point, NIfty was indicating levels beyond 12800. But this euphoria subsided towards the close of US markets and hence, tracking some nervousness early in the Tuesday morning in DOW futures, our market was less excited at the opening. We still managed to open nearly eight tenths of a percent higher and ended the session well above the 12600 mark. Quite similar to the recent trend, our markets started Wednesday on a positive note however after the first hour of trading the broader markets started witnessing profit booking that pulled Nifty lower into the negative territory. Eventually, this dip got bought into for Nifty to retest its morning highs and to end with gains of 0.93% tad at 12750. Thursday morning, the global peers looked a bit nervous and hence, we had a sluggish start to the trade. Till the midsession, markets corrected marginally but it was more of a sideways movement with mildly negative bias. However, as the Finance Minister’s press conference started, we witnessed some weakness to sneak below the 12650 mark. Fortunately, the market started to rebound from a kissing distance of 12600 post the press conference and eventually, ended the session with less than half a percent cut.The benchmark indices rebounded after a day of profit booking and closed marginally higher on November 13, ahead of muhurat trading tomorrow. Nifty closed friday above 12700 mark.

NIFTY: A STRONG SUPPORT WILL BE @ 12500; STRONG RESISTANCE LEVEL SEEN @13000

This week we had a breakout with a ‘Breakaway Gap’ which is followed by two back to back gaps, which can be termed as ‘Runaway Gaps’. Such development happens in an extremely optimistic environment and hence, the rally is likely to continue first towards 12800 – 13000. On the flip side, the immediate support shifts higher around 12600 – 12400.

TECHNICALLY SPEAKING.

Finally, after eight days of marathon rally, the market ended its winning streak. One shouldn’t be too wary about it, because most of the events are behind us and technically, markets were a bit overstretched. So, some sort of breather was very much on cards. In fact, with reference to our previous article, we had mentioned how Nifty precisely met with its initial target of ‘Bullish Flag’ pattern around 12800 – 13000. But by no means, we expect a big price correction from here on, rather any decline is an opportunity to go long with a short to medium term view. Market generally experiences either ‘Time’ or the ‘Price’ correction. Looking at the recent development, we would rather expect the first scenario where we may see benchmark spending some time in a band of 400 – 500 points before resuming its northward trajectory. As far as levels are concerned, 12800 – 13000 remains to be immediate levels in the upward direction; whereas on the lower side, 12600 followed by 12400 are likely to provide decent support for the coming session. Market continues its spectacular run and this recent rally from 11500 has its own unique characteristic. It sailed through smoothly in the midst of the uncertainty, such a huge event effortlessly and this is very seldom to experience. Fortunately, we stood firmly and were hopeful around recent swing lows and in fact as we progressed last week, things were pretty clear in the latter half that the market is not going to stop soon.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 13 NOV 2020

again FM nirmala sitharaman stimulus failed to impress the market participants.  Benchmark indices broke the eight consecutive session winning streak with Nifty below 12700 .The Indian markets erased their partial recovery and fell 1% on Thursday, even as Finance Minister Nirmala Sitharaman announced 12 measures under 'Atmanirbhar Bharat 3.0. The FM also launched Atmanirbhar Bharat Rozgar Yojana to incentivize creation of new jobs. The government announced relaxations in income tax rules to allow sale of primary residential units of up to Rs 2 crore value below the circle rate. Till now, only 10% difference between the circle rate and the agreement value was allowed. To boost residential real estate sector, the Finance Minister said the differential has now been increased to 20% for period up to June 30, 2021 for only primary sale of residential units of value up to Rs 2 crore. At close, the Sensex was down 236 points at 43357, and the Nifty was down 58 points at 12690.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 12 NOV 2020

Market continued the record journey on the third consecutive day with eight straight session gains on November 11 supported by the metal, pharma and auto names. At close, the Sensex was up 316 points at 43593, and the Nifty was up 118 points at 12749.  Indices witnessed a significant bout of volatility today but ended very much in the green buoyed by key pivotal across sectors. Metals & select Pharma names saw buying interest while investors bought into insurers in the broader market.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 10 NOV 2020

Bulls went on a rampage today at the start of the week which promises everything right from Bihar Election results to Factory Output. A 200 point salute to the Nifty also brought about positive vibes across a host of Small & Midcap stocks in the broader markets. Markets started the week on robust note and made a new record high, taking cues from the global indices. The reaction was mainly in response to the news of Joe Biden winning the US presidential elections. Besides, noticeable buying in index majors especially from the banking pack further boosted the sentiment. Consequently, the Nifty index closed at 12461 levels, up by 1.6%.

DIWALI BONANZA !!!!

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 6 NOV 2020

The bulls continued to dominate for the third successive day and posted noticeable gains, thanks to upbeat global cues. Nifty opened above the psychological hurdle of 12,000 in early trade and gradually inched higher as the session progressed. It finally settled at 12,120 levels; up by 1.8%. Nifty closed above the 12050 levels, which is bullish break out level for the market. Nifty has spent 175 days below the psychological level of 12000. It is the fastest recovery from the panic lows in the history of Indian markets. Rise in the US markets and fall in the dollar has helped the market to surpassed and closed above the level of 12000. Nifty is 300 points away from all-time highs and now we have to be more careful as traders make maximum mistakes near the highs. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 5 NOV 2020

The Sensex gained 355 points to settle at 40616 levels while Nifty ended at 11908, up 95 points. A close contest in the US election spiked volatility in the global market after yesterday’s strong rally. However, the Indian market was not as volatile as the outcome is not expected to change the country’s strategic outlook. The election results are unlikely on the election night and it could possibly take much longer for the final results to come out.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 2 NOV TO 6 NOV 2020

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WEEKLY RESISTANCE FOR NIFTY: 11700, 11900,12100

PIVOT POINT: 11600

WEEKLY SUPPORT FOR NIFTY:  11500, 11400, 11300

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11680, 11750,11800

PIVOT POINT: 11625

DAILY SUPPORT FOR NIFTY:  11550, 11500, 11450

DAILY CHART FOR NIFTY

Our markets started the proceedings for the October expiry week on a muted note owing to sluggish global cues. However, as the day progressed, the trend became cautious on the back of global jitters, especially from Europe. Due to the broad based selling for the major part of the session, the Nifty went on to almost kiss the 11700 mark. Fortunately, the fall got arrested in the last hour to restrict correction slightly over a percent. Tuesday Bulls took centre stage today led by Financials as Kotak Bank led from the front buoyed by MSCI review. Afternoon trade witnessed FMCG taking control ably supported by cement stocks. Broader markets also saw participation across select counters.  Benchmark indices regained some of the previous session losses and ended higher with Nifty above 11,850 supported by the Bank Nifty and Pharma names. At close, the Sensex was up 376 points at 40522, and the Nifty was up 121 points at 11889. Wednesday the Sensex plunged below the 40,000 level and the Nifty50 index broke the 11,800 level. The benchmarks underperformed due to the heavy selling in the financials. Index heavyweights HDFC and ICICI Bank remained the top contributors behind Nifty's fall today. Both stocks traded over 3% lower. Thursday market ended lower for the day but gained in the October expiry series. The Sensex ended 173 points to 39749 while the Nifty50 index ended at 11670, down 59 points. Friday the Sensex dipped 250 points to 39520 levels. The index hit an intra-day high and low of 39988 and 39242, respectively. The broader Nifty also gave up the 11600-mark. 

NIFTY: A STRONG SUPPORT WILL BE @ 11500; STRONG RESISTANCE LEVEL SEEN @12000

we witnessed some choppy moves but the overall bias remained positive. In fact, we had mentioned how multiple technical indicators are in favour of bulls. All those observations still remain valid as long as we hold strong as well as crucial support zone of 11500 - 11300. Below this the short term trend reverses and hence, one should avoid aggressive longs in the market thereafter. Till then interpret this as a reaction to global development and stay hopeful for recovery. For the coming session, 11800 followed by 12000 would be seen as immediate resistances.

TECHNICALLY SPEAKING.

let’s dig into a bit of technical’s and understand why 11500 – 11300 is considered to be a strong as well as crucial support zone. If we connect all major highs from record highs in a descending order, the trend line / pull back support comes around this level, which coincides with the 20-day EMA as well. Hence, as long as this support is not violated, one should adopt a buy on dips strategy. A close below 11500 – 11300 would result in a short term trend reversal and hence, traders should start lightening up positions after it. Before this, intermediate supports are at 11820 – 11775. Now, we are tad below 12000 and if we have to pre-empt any direction, we expect the Nifty to surpass 12000 – 12050 levels in coming days to head towards 12200 – 12400. If we are anticipating this to happen then there has to be some technical evidences to back this hypothesis and they are as follows: 1) The ‘RSI-Smoothened’ for Nifty on weekly time frame chart has started moving northwards after entering a bullish territory above the 70 mark, which is likely to provide impetus, 2) After a long underperformance, banking started to show inherent strength and as we all know when financial starts participating in any rally; it is to be considered the robust one. To add to our conviction, the ‘ADX 14’ indicator on the daily chart is moving northwards after surpassing the 25 mark. This development generally unfolds a big trended move, 3) The undercurrent is strong and we are seeing different sectors participating one after another and the way midcap index is poised, another percent up move from hereon would confirm a strong breakout in ‘Nifty MIDCAP 50’ index. So, considering all this, odds are very much in favor of the bulls. But since we are approaching a mega global event (US Presidential election), we may see some volatility increasing and hence, keep a regular tab of all above mentioned levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 28 OCT 2020

Bulls took centre stage today led by Financials as Kotak Bank led from the front buoyed by MSCI review. Afternoon trade witnessed FMCG taking control ably supported by cement stocks. Broader markets also saw participation across select counters.  Benchmark indices regained some of the previous session losses and ended higher with Nifty above 11,850 supported by the Bank Nifty and Pharma names. At close, the Sensex was up 376 points at 40522, and the Nifty was up 121 points at 11889.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 27 OCT 2020

Bears took the charge of Dalal Street on 26 October 2020 which pulled the Nifty below 11800 and Sensex by 500 points. Market saw more than 1% cut today as several countries in the European Union are slated to go into a lockdown. At close, the Sensex was down 540 points at 40145, and the Nifty was down 162 points at 11767. Auto stocks were pounded today on apprehensions of a softer festive season and the late afternoon selling in Metal stocks pushed Indices into red during the earnings season. Value Buying was witnessed today in Insurance companies and Midcap Cement.

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.