NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 2 FEB 2022

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The street cheered the budget as indices rose 1.5% with its usual share of volatility as India VIX dropped sharply below 20.  In spite of a roller-coaster session, markets finished with strong picks up, as financial specialists cheered the government's center on higher development and capital consumption boost within the Budget. The north-bound drift was moreover aided by overnight picks up within the US market and a solid European markets slant in early exchanges. On everyday charts, the market kept up an uptrend continuation arrangement and after a long time, it succeeded to shut over the 50-day SMA which is broadly positive. It may be a long-term development situated budget which the market has invited given no headroom for cautiousness & populist measures. It is anticipated to bolster development within the future; be that as it may, it is lost a few adjusting measures in setting of current inflationary & abating economy. Supportive measures were needed for rural, agriculture, low taxpayers & for sectors impacted by the pandemic.  High capex, fiscal deficit & borrowing plans in the background of a high inflation, commodity & oil prices and rising interest rates will be challenges in the short to medium-term. The paradigm change seen in the digital push together with the narrative for urban development quite clearly signaled a pro-growth stance. Market ended on positive note in the highly volatile session on February 1, a Budget Day, mainly supported by the metal, pharma and capital goods stocks.

NIFTY OUTLOOK FOR BUDGET DAY 1 FEB 2022

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Taking positive prompts from worldwide markets and ideal takeaways from the financial overview report, the market revived ahead of the budget day with all major segments within the green. The major large scale markers of the overview gave certainty that the nation is well put to confront future challenges with gdp development for fy23 anticipated at 8-8.5%. Worldwide markets turned positive backed by picks up within the market speculators overlooked geopolitical unsettling influences and turned their eye towards solid profit numbers from tech firms. Sensex closes 814 points higher after Eco Overview projections; nifty over 17,300. The Nifty opened gap up on January 31 & attempted to stretch higher. It managed to surpass the level of 17400 on an intraday basis however couldn’t sustain in the higher territory. In terms of the Fibonacci retracement, 38.2% retracement of the entire Jan decline acted as a key barrier for the second consecutive session.

NIFTY BANKNIFTY OUTLOOK FOR BUDGET WEEK 31 JAN 2022 TO 4 FEB 2022

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WEEKLY RESISTANCE FOR NIFTY: 17300, 17650, 18000

PIVOT POINT: 16800

WEEKLY SUPPORT FOR NIFTY:  16600, 16450, 16200

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 17200, 17300, 17400

PIVOT POINT: 17000

DAILY SUPPORT FOR NIFTY:  16900, 16800, 16700

DAILY CHART FOR NIFTY

Monday, we began the week on a flat note thanks to mixed global cues. After a few initial trades, the negative trend returned. In fact, as the day progressed, the sell off intensified to break all intraday support levels one after another. Due to minor recovery in the end, the Nifty eventually settled above 17100 by losing nearly 3%.DOW futures traded with a deep cut Tuesday morning, followed by a gap down and a sharp correction to almost reach the 16800 mark. Due to the oversold market, the Nifty rose towards 17300 by the close. Wednesday market was closed on occasion of republic day. Despite a one-day gap, our markets started the Thursday session on a weak note as global markets continue to sulk post-Fed. In fact, the selloff accelerated around mid-session to hasten towards Tuesday's low. Fortunately, the bulls are not to be intimidated as they continue to push higher. Banking sector strength contributed to a subsequent recovery and limited Nifty's losses to less than 1%.   Investors at the stock market breathed a sigh of relief on Friday, as the market stopped selling, and the focus shifted to the Nifty50's quarterly earnings. All sectors saw buying on Friday. IT and realty indices were the most resilient after heavy selling. The Sensex ends 77 points lower than its high; Nifty holds above 17,100; NTPC jumps 4%; Adani Wilmar's IPO is a success. A tug of war between improving corporate earnings and fundamentals in India and global tapering and rate hikes will keep markets more volatile in 2022, unlike 2021 when it was a trending market.

NIFTY: A STRONG SUPPORT WILL BE @ 17400; STRONG RESISTANCE LEVEL SEEN @ 18200

Until & unless, the worldwide vulnerability don't vanish, we are likely to have challenging markets where the instability remains on the higher side. Presently the budget is around the corner and hence, we don't anticipate any conclusive move (on either side) for next couple of days. In fact talking, 16800 is considered to be a significant level since it coincides with the 78.6% retracement of the later up move as well as the drift line support. Showcase has not as it were overseen to hold it in final couple of sessions but too had an amazing recuperation to recover 17000 with a few specialists. Thus, as long as this back holds, we remain confident for a few recuperation from hereon.

TECHNICALLY SPEAKING

Taking a look at the day by day time outline chart, ready to see Clever following nearly by 50% of the later rally and saw a few relief after nearing the ’89-day EMA’. Thus, for the coming week, 17500 – 17400 should be considered as vital bolsters. In spite of the fact that the global picture isn't great, we still would like to back our slant towards a few alleviation move. On the off chance that any recuperation should happen there would not be better levels than this. On the upside, to begin with sign of quality would begin over 17800 and after that we will recover the 18000 terrain ahead of the budget itself. To begin with couple of sessions would be imperative for advertise because it will set the tone ahead of the mega event. As distant as our understanding is concerned, one ought to center on Monetary and Auto space since in case of a recuperation, they are the ones to be the frontrunners..

NIFTY OUTLOOK FOR FEB SERIES 28 JAN 2022 & BUDGET SESSION

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After a day of hiatus, benchmark indices were back in the red on Thursday as the US Federal Reserve spooked markets by announcing a timeline to raise interest rates. But some buying in the afternoon gave hope to bulls. Value stocks made a comeback with the PSU Bank index rallying over 5%. The market was well supported by auto stocks to stage a smart recovery. At the same time, IT and pharma stocks witnessed profit-taking. The Sensex declined 581 points to close at 57276. Consequently, Nifty closed at 17110; down by 1%. Excessive volatility on the global front is keeping our markets also on the edge. With the US FOMC meet behind us, we expect some stability now. However, the prevailing earnings season and upcoming Union budget 1 February 2022 would keep the participants enthusiastic. The recent buoyancy in the banking space is certainly encouraging but the other sectors should also support for any meaningful recovery. We feel it’s prudent to stay light and let the markets stabilise. Consequently, the Nifty held on to the psychological mark of 17000 on a closing basis for yet another session.  The overall structure shows that the index is preparing for a short term bounce towards 17300-17500. On the flip side, 16900 will continue to act as a near term support on a closing basis with major support at 16800.

Resistance: 17350, 17425, 17575

Support: 17200, 17000, 16800

NIFTY OUTLOOK FOR EXPIRY 27 JAN 2022 & BUDGET 2022

Market made a smart recovery and ended higher in the highly volatile session on Wednesday 25 January 2022 supported by the auto, power and banking names except IT all other sectoral indices ended in the green with. At close, the Sensex was up 366 points at 57858, and the Nifty was up 129 points at 17278. Afternoon trade witnessed investor appetite in stocks of PSE and advance - decline ratio ended the day on a positive note. Investors bought into the 1000 point dip in the Sensex today morning as Banks & Autos led the recovery. As markets approach important near term events, the mood appeared circumspect although on the positive side the street is going into the Union Budget much lighter post the recent correction.  The markets have closed above 16950 which is a crucial medium-term support for the Nifty. If we need to bounce or make a V shape recovery, this is the place from where that can happen. 

EXPIRY 27 JAN & BUDGET 2022 AHEAD; TRADING TIPS FOR 25 JAN 2022

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Carnage on the d street as nifty went below 17000 mark. All the sectoral indices ended in the red with auto, metal, IT, power, pharma, realty, FMCG, capital goods down 2-6 percent. BSE midcap and smallcap indices fell 4 percent each. The Nifty opened on a negative note on January 24 & witnessed sharp follow through selling. The selling pressure intensified as the index breached the recent Doji pattern’s low of 17485. In terms of the Fibonacci retracement, the index has done deep retracement of the Dec – Jan rally.  Market corrected massively, possibly reacting to US equities trending lower and rise in crude oil prices. In my view, there were no positive triggers to take the market upwards in the near term and which is why volumes in large cap names are down 20-30% in 2022 so far, as compared to 2021, even when market caps are higher by 20-25% on a year-on-year basis. While a further 500 points downside cannot be ruled out in the Nifty, on the brighter side, the stock market is much lighter and healthier, heading into the Union Budget, after the high in mid-October 2021. Corporate earnings have been positive so far and Omicron didn’t disrupt the economy materially. The structural story remains intact and I am confident that Nifty will achieve a higher high in 2022, than what we saw in 2021. At close, the Sensex was down 1500 points at 57491, and the Nifty was down 468 points at 17149. 

We expect volatility to remain high as investors await the Fed meet outcome. Moreover, pre-budget jitters, earnings announcements and upcoming monthly expiry would further add to the choppiness. Traders should limit leveraged positions in the current scenario and focus more on risk management. Investors, on the other hand, should see this correction as an opportunity to buy quality stocks at a good bargain. The selling pressure abated near the daily lower Bollinger Band, which is near the key psychological mark of 17000. The index attempted a bounce thereon & closed near the 61.8% retracement mark. Thus going ahead 17000 will be the key level to monitor on a closing basis. Unless that breaks on a closing basis the index can go for a bounce & can test a falling trendline near 17500. 

Resistance: 17200, 17300, 17400

Support: 17000, 16900, 16800

NIFTY BANKNIFTY OUTLOOK FOR EXPIRY WEEK 24 JAN 2022 TO 28 JAN 2022

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WEEKLY RESISTANCE FOR NIFTY: 17700, 17900, 18200

PIVOT POINT: 17500

WEEKLY SUPPORT FOR NIFTY:  17300, 17200, 16800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 17700, 17800, 17900

PIVOT POINT: 17600

DAILY SUPPORT FOR NIFTY:  17500, 17400, 17300

DAILY CHART FOR NIFTY

Monday morning, the global markets looked a bit nervous but as we approached our opening time, the SGX Nifty recovered to some extent and as a result, we kick started the week marginally in red. Market did not take much of a time to enter the positive terrain and then remained within a slender range throughout the remaining part of the session. Although there was no real momentum in key indices, Nifty managed to reclaim the 18300 mark at the close. Our markets started the Tuesday’s session slightly in the green but right from the beginning the benchmark index looked a bit tentative. In the initial hour, Nifty tested sub-18200 levels from where the banking space took the charge and lifted markets higher to trim all losses. But market was not done with its action yet. As we stepped into the penultimate hour, the global markets became extremely nervous which resulted in a sharp decline to test 18100 at the close. Tuesday’s unpleasant session was followed by a flat opening on Wednesday despite SGX was indicating a weak start. However without wasting much of a time, the selling aggrandized in the market. Barring some recovery in the initial hour, there were no signs of respite in the benchmark index. Eventfully, Nifty ended the session above 17900 by losing yet another percent to the previous close. Thursday markets remained under pressure for the third successive session on Thursday 20 January 2022 and lost nearly 1%. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses.  Consequently, Nifty settled around 17757 levels; down by 1.01%. Nifty opened gap down on January 21 and posted a negative daily close for the fourth consecutive session. Domestic market continued its downward journey amid global sell off. Nifty opened negative and nosedived 222 points during the session to touch low of 17486. It however recovered from its days low and closed with loss of 140 points (-0.8%) at 17617 levels. 

NIFTY: A STRONG SUPPORT WILL BE @ 17200; STRONG RESISTANCE LEVEL SEEN @ 18200

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR PRE-BUDGET SESSION 21 JAN 2022

Markets remained under pressure for the third successive session on Thursday 20 January 2022 and lost nearly 1%. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses.  Consequently, Nifty settled around 17757 levels; down by 1.01%. Nifty broke its momentum support levels of 17900 and tested the 17700 levels. For the short term, selling pressure can push the index towards 17350-17450 mark. The medium term outlook remains intact as we don’t see any signs of trend reversal. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR PRE-BUDGET SESSION 20 JAN 2022

Asian market continued to weigh on domestic stocks as weak global markets coupled with concerns that a rate hike by the US Fed could be on the cards sooner-than-expected triggered wide-spread selling for the second straight session. Markets traded under pressure and lost nearly 1 %, in continuation to the previous session’s fall. The market opened flat amid weak global cues however bears regained control as the day progressed and pushed the index gradually lower. Among the sectors, profit booking in IT, financials and FMCG sectors impacted sentiments. Consequently, the Nifty settled closer to 17938; down by 0.96%. The broader markets showed some resilience and ended almost on a flat note.

NIFTY PREDICTION & NIFTY OPTION CALL PUT TIPS FOR 19 JAN 2022

On a Tuesday trading session, the benchmark index witnessed a profit booking after a continued upside move and Nifty has retreated almost 1% from the day high to close at 18113 while Banknifty has settled at 38210 levels. Markets shed nearly a percent in a volatile trading session, in continuation to the prevailing consolidation phase. The market oscillated in a range before finally settling in the red. Mixed global cues were weighing on the sentiment which triggered profit taking across the board. Among the sectors, most indices ended lower and the broader indices also closed in the red. Keeping in mind the scenario, it’s prudent to maintain a few shorts also. The focus should be on earnings and global markets for cues. Markets took a break from the recent upsurge as bears took control after weak Asian and European cues prompted investors to book profit. As a result, the Nifty has formed a long bearish candle which suggests further weakness from the current levels. It has also formed a lower top formation, indicating continuation of weakness in the near future.  

BANKNIFTY CHART TECHNICAL SUPPORT & RESISTENCE LEVEL FOR 17 JAN TO 21 JAN 2022

Type	R1	R2	R3	PP	S1	S2	S3
Classic	38,740	39,741	41,349	37,133	36,132	34,525	33,524
Fibonacci	38,130	38,745	39,741	37,133	36,137	35,521	34,525
Camarilla	37,978	38,217	38,456	37,133	37,500	37,261	37,022

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