HISTORICAL DAY FOR THE MARKET; NIFTY ABOVE 14850

The budget exuberance is still going on in the market and the global optimism is too providing impetus to the move. The Sensex tops 50400 Nifty above 14850 as indices trade at record high amid positive global equities. The Indian markets extended their Budget day gains into the third straight session on Wednesday and were trading over 1% up at fresh lifetime high levels in noon deals. Extending gains for third session after Union Budget 2021, Sensex was trading 695 points higher at 50478 and Nifty gained 215 points to 14860. The Sensex and Nifty hit lifetime highs of 50526 and 14868 during Wednesday's session. Sensex and Nifty earlier had hit fresh record highs of 50184 and 14753, on January 21.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 1 FEB TO 5 FEB 2021

WEEKLY RESISTANCE FOR NIFTY: 14000, 14500,15000

PIVOT POINT: 13500

WEEKLY SUPPORT FOR NIFTY:  13000, 12500, 12000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 13800, 13900, 14000

PIVOT POINT: 13600

DAILY SUPPORT FOR NIFTY:  13500, 13400, 13200

DAILY CHART FOR NIFTY

Last Friday’s weakness was carried over to Monday as well and hence, Nifty witnessed a decent corrective move on the opening day to test sub-14300 levels. However, the bulls were not ready to give up easily as they came back strong on the subsequent two sessions on the back of overall global optimism. In the process, almost all major sectoral indices registered their new record highs. Everything looked hunky dory until the sudden profit booking took place in the last hour of the weekly expiry. This sell off went on to intensify on the last day of the week to erase all weekly gains to conclude tad below the 14400 mark. Monday morning, the global set up was just ideal to have a good head start for the final week of the January month. However, within few minutes of trade, market skidded sharply to not only pare down all gains but also entered a negative territory. For the remaining few hours, Nifty gyrated in a range with higher volatility and eventually managed to extend losses in last couple of hours to close tad below the 14250 mark. Our  markets  were  closed  on  Tuesday  on  account  of the Republic  Day; but the  global  peers  had  couple of weak  sessions,  which  we had  to  digest  at  the  opening  Wednesday. Surprisingly, market opened on a flat note, taking cues from the positive Dow futures yesterday  morning.  However,  this  turned  out to  be  a  formality  as the  selling  resumed  right  from  the  word  go  to  slide  back  to  the negative territory. As the day progressed, indices kept on breaching all intraday supports one after another.  Eventually, the Nifty concluded with  almost  couple of  percent  losses to  mark close below 14000 for the first time in the new year.  We had a weak session on to snap all monthly gains and eventually closed below 14000 for the first time in the New Year. Since last 3 4 sessions, our markets looked nervous but it wasn’t due to the global markets. Previous night for the first time, US and European markets had a meaningful. The Economic Survey 2021, released on January 29 ahead of Budget 2021, has called for adequate capitalization of public sector banks. If capital is not provided, lenders may resort to risk-shifting, it said. In turn, impacting the real economic recovery. The markets were successful in breaking 13,700 and has closed below it too. Investors lightened their portfolios and decided to sit on cash on Friday as they await Finance Minister Nirmala Sitharaman's third Union Budget presentation due on Monday, February 1. In a sea-saw trade today, stock specific moves swayed markets even as overall mood remained subdued.  As Nifty-50 has rallied more than 90% from the Mar’20 lows, a 10-12% correction, if it comes, could be healthy for the market. Nifty-50 is trading at 23x on one-year Fw PE which factors in most part of the healthy earnings growth likely to come in FY22E. Valuations are stretched by any standard and investors need to be cautious. It is better to avoid riskier bets at this juncture and book profit part profit in Nifty-50 goes closer to 15,000 mark. Risk-averse investors can also look to protect their portfolios by buying PUTs of either Feb/March if Nifty-50 goes near 15,000.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 29 JAN 2021

Market witnessed some lackluster movement where bears look more in control. Bears tighten their grip on the day of Jan f&o expiry 2021 & took nifty below 13800 & made a low of 13713 but at the end managed to close the day above 13800 at 13817 down by 150 points. At close, the Sensex was down 535 points at 46874.It is a healthy correction from record highs and looking at the derivative rollovers it seems traders are lightening their positions ahead of the Budget which is a good sign to go into a major economic event.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 25 JAN TO 29 JAN 2021

WEEKLY RESISTANCE FOR NIFTY: 14500, 14800,15000

PIVOT POINT: 14300

WEEKLY SUPPORT FOR NIFTY:  14200, 14000, 13800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 14450, 14550, 14650

PIVOT POINT: 14350

DAILY SUPPORT FOR NIFTY:  14300, 14200, 14100

DAILY CHART FOR NIFTY

Nifty started the week around the previous week’s close but right from the word go, Nifty witnessed some selling pressure and by Monday noon it breached the 14300 mark. The index then recovered from the low but that intraday pullback got sold into, and it marked a low of 14222 during closing. The Nifty index registered a loss of over a percent at close while the Bank Nifty corrected by over 400 points after showing some resilience in the first hour of trade. The Asian markets were trading with a positive bias and this led to a gap up opening in Nifty around 14370 on Tuesday. The minor dip in the first half an hour got bought into and then it was no looking back for the index. It crept higher throughout the day and ended the session above 14500.Wednesday the Nifty index opened on a flat note and gradually moved higher during the day to register new highs. In just a couple of sessions, the index recovered all its losses of the recent correction and has ended the day tad below 14650. Thursday the Nifty index opened on a positive note and surpassed the 14750 mark for the first time. It consolidated at higher level for most part of the session, however, the indices corrected sharply after 2 pm and Nifty ended the day tad below 14600. The Indian benchmark equity indices, Sensex and Nifty ended sharply lower Friday dragged by heavy selling in metals and banking stocks. The Sensex ended 746 points at 48878 while the Nifty plunged 218 points to close at 14371. 

NIFTY: A STRONG SUPPORT WILL BE @ 14000; STRONG RESISTANCE LEVEL SEEN @14800

The mighty bulls remain in the dominant position and they are in no mood to loosen up their grip on the market. For the coming week, 14500-14800 remain to be an immediate resistance; whereas on the lower side, 14300 - 14000 are to be seen as crucial supports.

TECHNICALLY SPEAKING.

The market witnessed a correction for the second consecutive session after reaching a record high on 21 jan 2021. Market might witness the sluggish movement for the next few sessions. 14200-14000 will be an important support, if Nifty breaks below the support zone decisively, there will be correction till the levels of 13800. The momentum indicators like RSI, MACD indicating a small correction in the markets.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 21 JAN 2021

Indian indices edged higher to end at record close on Wednesday, snapping two sessions of losses, led by gains in IT and Auto stocks. Supportive global cues led to a positive start which was further fueled by the buying in index majors. Consequently, markets touched a new record high led by healthy buying in RIL, Infosys & TCS were Top Contributors. Nifty Gains 124 Points to 14645 & Sensex 394 points To 49792.  Sensex Hits Intra-day Record High of 49874 & Nifty made high of 14666. Banknifty Relatively Underperformed & Ended With Gain of 119 Points at 32544.

The recent buoyancy on the global front combined with the supportive local cues is helping the index to regain momentum. However, volatility is still high on the stock-specific front. Keeping all in mind, we feel it’s prudent to continue hedged positions and prefer index majors over the others. From the low of 14222, the Nifty index registered sharp recovery towards 14,546 in a short span of time. This recovery has recouped more than 62%of the entire fall which was registered from 14653 to 14222. Retracement of more than 62% is considered as a negation of a primary down move. Bullish trend of Nifty has now got new support at 14,200 and with that stop loss longs should be held.

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Resistance: 14700, 14800

Support: 14500, 14400

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 20 JAN 2021

Nifty on 19 January 2021 opened with gap up in line with the global bourses and rose through the day. The index respected the key support at 14350 level and headed towards the 14550 mark. It closed the day with a decent gain of around 240 points with a strong advance - decline ratio. The index formed a bullish candle on the daily scale and negated the formation of lower tops and bottoms of last two sessions. Nifty reclaimed the 14500-mark in the intra-day trade to hit a high of 14546. The nifty closed at 14521 levels, up 239 points. 46 of the 50 constituents ended the day in the green.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 19 JAN 2021

Market opened on a flatter note at 14453 following the weak global cues. Global cues also indicated that this week would be sluggish and choppy as the global market movements showed small corrections with the opening all over the globe. The European Central Bank will meet on Thursday for the first time in 2021 as it tries to manage the impact of rising COVID-19 cases, a re surge in lock downs across the continent and taking into account preliminary PMI data from Europe. The continent has taken a hit in January as the spread of the virus has trumped the vaccine roll out. The impact of this can be seen on the markets all over the world. The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 47 points loss. Market Closes near Day’s Low; Sensex & Nifty Slip 1% Each For 2nd Straight Day. Nifty Gives Up 14,300, Ends with A Cut Of 152 Points At 14,281. Sensex Slips 470 Points To End The Monday Session At 48564.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 13 JAN 2021

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New day new high!!! Nifty near 14600 mark. After opening on flat note on Tuesday and surged throughout the session after a slight dip in the initial hour of trade, heading towards a new lifetime high of 14,590. The bulls have been on the go relentlessly, and are touching new highs every session. The index witnessed some consolidation in the last hour of the session, but finally settled with a gain of around 90 points.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 12 JAN 2021

Markets started the new trading week on a bullish note led by positive global cues and strong earnings from TCS.  The Nifty managed to end  with fresh record high with gains of 1% to close just shy of 14500 levels. At close, the Sensex was up 486 points at 49269, and the Nifty was up 137 points at 14484. The anticipation of better than expected earnings season combined with supportive global cues aided the upbeat start. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 06 JAN 2021

New day new high!!! One more bullish session and nifty managed to close Tuesday 5 January 2021 on fresh highs at 14200 with gains of half a percent and formed a bullish candle on daily chart.Now index has shifted its base to 14100 zone and overall base is still at 14k mark holding above said levels a buy on dip structure is still intact, on the other hand index managed to breach 14200 zone decisively its suggest that ongoing move can push index to 14250-14350 zone in near term.

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NIFTY HITS 14000 MOUNT ON THE LAST DAY OF 2020

Nifty hit 14000 on 31 December 2020. In 13 years nifty moved 9000 points. This is the journey of nifty since 2007. It took 10 years for nifty to gain 5000 points & only 3 more to rack up another 4000 points. What an epic recovery we have had from the lows of 8000 this year in march 2020 to 14000 on 31 DEC 2020. The Nifty surpassed the 14000-mark for the first time ever on the last day of 2020 as market continue to scale new highs hoping that a prolonged monetary stimulus and a Covid-19 vaccine would lead to a quicker-than-expected turnaround from the pandemic-induced recession. The nifty gauge has gained the last 1000 points from 13000 to 14000 in 26 trading sessions, starting November 24, surging 8.2%. Of these trades, the index has lost in only four of them as of closing on Dec. 30.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 31 DEC 2020

Bulls dominated on Wednesday as Nifty ends shying of 14000. Healthy buying interest in the latter half of the session led the Nifty extend gains to the sixth day and end near the 14,000 level. Nifty settled 0.35% higher at 13981, while the Sensex rose 0.28% to 47746 tracking upbeat global sentiment and continued inflows into Indian markets. European shares were higher today as Britain approved a COVID-19 vaccine developed by AstraZeneca and Oxford University.

WELCOME 2021 !!!!

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 30 DEC 2020

Liquidity continues to drive markets with two more days to go in this month as well as year. Market closed at a record high on Tuesday, rising for a fifth straight session, as financial stocks advanced and global investor sentiment remained upbeat on hopes that a $2.3 trillion U.S. stimulus will be approved by the Senate. The Nifty ended at 13932, while the Sensex at 47613. Banking, which is among the few sectors still down this year, has been catching up with the broader market’s advance as foreign investors bet that a rebound in economic activity will benefit lenders.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 29 DEC 2020

Nifty soared sharply following a breakout of previous minor swing high. Previous week’s doji gets ignored as the Bull Run in the index continues unabated. From a pattern recognition point of view Nifty has moved above the previous swing high and the pattern of higher highs and higher lows continues. Nifty has also moved above last Monday’s long red candle as the market negating the bearishness of the previous week. Nifty is now hitting the top end of the channel and if the channel breaks and nifty moves above it. The rally should continue. 13750-13800 was a major resistance zone once we apply advanced Fibonacci applications.

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 28 DEC TO 1 JAN 2021

WEEKLY RESISTANCE FOR NIFTY: 13850, 14000,14200

PIVOT POINT: 13700

WEEKLY SUPPORT FOR NIFTY:  13600, 13400, 13200

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 13800, 13900, 14000

PIVOT POINT: 13750

DAILY SUPPORT FOR NIFTY:  13700, 13650, 13600

DAILY CHART FOR NIFTY

We threatened the lower end of the range by piercing 13300 on weekly basis but the Nifty was quick to bounce back to close above it 13700. Monday Bears took the charge Indian markets fell sharply today, snapping its recent record-breaking streak. The Sensex ended over 1400 points lower at 45553 after sliding over 2,000 points at day's low. The Nifty ended 3.2% lower at 13328. Tuesday Indian stock market rebound and ended with gains of ~1%, after the sharp decline in the previous session. It opened with an uptick amid mixed global cues and hovered in a range in the first half. However, healthy buying in the IT and pharma majors combined with some recovery in the other sectors helped the market to pare intraday losses and settle around the day’s high as well. Consequently, the Nifty ended around 13466 levels; up by 1%. The markets too witnessed recovery and both the midcap and smallcap index posted decent gains. Market continued to move higher on Wednesday. sensex closed the day’s trade with 46444 while nifty regained 13600 levels. : Domestic equity markets continued scaling higher on Thursday morning. Sensex zoomed to cross 46800 while the Nifty 50 was just above 13700.

NIFTY: A STRONG SUPPORT WILL BE @ 13000; STRONG RESISTANCE LEVEL SEEN @14000

Nifty has to hold above 13500 zones to witness a bullish bias towards life time high of 13750-13777 zones while on the downside major support exists at 13333 and 13131 levels. Overall trend is likely to be with buy on declines strategy. Option traders are suggested to be with positive bias for an up move towards 13700 zones. Buy nearby 13600 Call or Bull Call Ladder Spread.

Trading Range: Expected wider trading range: 13500 to 13700 zones.

TECHNICALLY SPEAKING.

 This has been a short but eventful week with wide gyration in stock prices. After the sharp correction seen on Monday prices have recovered in the last three days. Monthly expiry has also contributed to the higher volatility. Nifty’s closing near the previous week high indicates strong rollovers on the back of healthy FII flows seen this month. We can expect muted FII activity in the next week also due to year end phenomenon but expect activity to pick up sharply from the first week of January. Most probably Nifty should take support at 13000 levels with likely break out above the 14,000 level sometime in January.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 24 DEC 2020

Market continued to move higher on Wednesday. The closed the day’s trade with 46444 points while nifty regained 13600 levels. After the wild swings seen by the Nifty, it has created a Bullish Harami kind of pattern on the daily chart, indicating a likely continuation of the bullish sentiment. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 24 DEC 2020

Indian stock market rebound and ended with gains of ~1%, after the sharp decline in the previous session. It opened with an uptick amid mixed global cues and hovered in a range in the first half. However, healthy buying in the IT and pharma majors combined with some recovery in the other sectors helped the market to pare intraday losses and settle around the day’s high as well. Consequently, the Nifty ended around 13466 levels; up by 1%. The markets too witnessed recovery and both the midcap and smallcap index posted decent gains.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 22 DEC 2020

Bears took the charge Indian markets fell sharply today, snapping its recent record-breaking streak. The Sensex ended over 1400 points lower at 45553 after sliding over 2,000 points at day's low. The Nifty ended 3.2% lower at 13328 with broader markets also seeing a big selloff. The BSE midcap and smallcap indices slumped over 4% each. Though many analysts were expecting a consolidation after the recent upmove, the intensity of today's crash took everyone by surprise. The new variant of the coronavirus in the UK spooked markets as we witnessed intense selling in pivotal throughout afternoon trade. While the Street was bracing for a correction this week after a sharp upmove, the sheer velocity of the fall across broader markets took the bulls by surprise as practically none of the key indices constituents were in the green today.

We threatened the lower end of the range by piercing 13300 on an intraday basis but the Nifty was quick to bounce back to close above it. If the level of 13300 is breached, we can slide down to targets closer to 11250-11200. The resistance on the upside is at 13400.

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Resistance: 13350, 13400, 13450

Support: 13250, 13200, 13150

NIFTY WEEKLY PREDICTION & NIFTY TIPS FOR 21 DEC TO 25 DEC 2020

WEEKLY RESISTANCE FOR NIFTY: 13800, 13900,14000

PIVOT POINT: 13700

WEEKLY SUPPORT FOR NIFTY:  13600, 13500, 13400

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 13775, 13825, 13875

PIVOT POINT: 13750

DAILY SUPPORT FOR NIFTY:  13700, 13650, 13600

DAILY CHART FOR NIFTY

The merry run continues across the globe and it’s been nearly one and half months now, markets are just continuing their gravity defying moves. This week, our markets kickstarted the week on a flat note but immediately resumed its upward momentum. For the subsequent two trading sessions, the rally continued and in the process, Nifty kept posting new record highs one after another. The similar sort of one sided move was missing in the latter half of the week as markets saw some volatile swings to test the 13800 mark. Our markets started the week marginally higher following the positive global cues. However, the index consolidated within a range for most part of the day and managed to close with gains of one-third of a percent. Tuesday global markets witnessed some correction and in line with that, Nifty was hinting at a probability of negative opening. However, the indices opened on a flat note and then corrected in the first couple of hours upto 13450 mark. But once again, the intraday day dip got bought into and we then witnessed a smart recovery in the later half to erase all losses and end the day on a flat note. Wednesday the U.S. markets ended with gains of over a percent and the Asian markets too were trading with a positive bias in morning. These positive cues from the global markets led to a gap up opening in Nifty to continue to post new record and end with gains of over 100 points at 13683. Thursday We had a positive start on the indices above the 13700 mark for the first time and it continued its positive bias to end the weekly expiry with gains of about half a percent. Friday market benchmarks  sensex and nifty were trading volatile on Friday. Sensex was hovering around 46900, while Nifty was ruling above 13500.

NIFTY: A STRONG SUPPORT WILL BE @ 13600; STRONG RESISTANCE LEVEL SEEN @14000

The short-term trend of Nifty continues to be rangebound with a positive bias and a similar type of movement is expected in the coming session. The upside target for the Nifty remains around 13,900-14,000 levels, which corresponds to multiple long-term trendline resistance. Immediate support is placed at 13600.

TECHNICALLY SPEAKING.

Nifty managed to close tad above 13750 on Friday with weekly gains of nearly two percent. This week, our markets reached yet another milestone of 13750 with ease and few heavyweight themes did well to guide markets at new record highs. Since we are trading in an uncharted territory, sky's the limit for our market; but in our sense, we have now reached the extreme zone, at least for the current vertical move. With a broader view, 14000 and beyond levels are very much possible, but for a time being; 13500 - 13600 are the extreme levels as per few key Fibonacci ratios. Let's see why these levels are considered important. The 'Golden Ratio' (161%) on the 'Price Extension' of the recent previous up move is placed at current levels. This level coincides with the 200% ‘Price Extension’ of the first up leg from March lows. More importantly, if we connect all important highs from March 2015 on the monthly chart, we can see a 'Multi-year Upward Sloping Trend Line' precisely converging around the same levels. Hence, some cooling off around this crucial junction cannot be ruled out. Yes, we agree to the fact that a strong trend up or down, doesn't necessarily follow any theory. But there is no harm being a bit conservative at times. Hence, since the last 3 - 4 days, we have been continuously advising booking profits in the rally and avoiding aggressive bets overnight. On the daily chart, we can now see a ‘Dragonfly Doji’ pattern and with the last two day’s intraday swings, 13500 has become a crucial support. The moment Nifty slides and sustains below this point (which is possible anytime soon), we would see the market experiencing some decent profit booking towards 13300 – 13000 in days to come.