NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 1 JUNE 2022

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The domestic market failed to maintain recovery mode as it awaited the release of Q4 GDP data. GDP is expected to register a slower growth rate of 4.0-4.2% as consumer spending and investment have been hit by rising inflation. A rise in oil prices due to the EU ban on Russian oil imports would act as a headwind in taming global inflation. Changes in central bank policies would be an important factor to monitor in the coming days. Benchmark indices closed lower on the last day of May, with the Sensex falling 359 points, to 55566 and the Nifty falling 77 points, at 16584. Financials and IT stocks dragged the indices lower, although gains in metal stocks provided some support. On the global front, Asian markets traded mostly in the green after being silent from Wall Street overnight due to a bank holiday, amid signs of easing of COVID-19 restrictions in Beijing and Shanghai and announcements of more stimulus measures in China reinforced optimism about growth in the world's second largest economy and helped underpin sentiment. European markets traded mostly in the red as attention shifted to inflation and rate hikes. Nifty shed afternoon gains on May 31 amid bulky trading on the NSE on MSCI rebalancing trades. Nifty opened the gap on the downside, rallied to post a daily gain at 2:00 p.m. and fell again to close near the daily low. Among sectors, real estate and metals gained the most, while power and banks fell the most. Smallcap and midcap indices ended slightly positive, outperforming the Nifty. Profit bookings higher dragged the benchmark indices in an otherwise clueless market. As corporate earnings season draws to a close, traders have begun looking for new leads to drive the market and there is also a lot of portfolio rebalancing taking place. Reality and the media continued the positive momentum while banking and energy stocks posted profit bookings at higher levels. Technically, a double top formation on intraday charts and a doji candlestick formation on daily charts suggest further weakness from current levels. Nifty remained volatile during the day before closing around the middle of the range. On the top end, it found resistance at the 50-EMA on the daily timeframe. Going forward, the trend could remain choppy as long as the index stays below 16750. On the lower end, support is visible at 16500. On the technical front, the key resistance levels for Nifty are 16800 and on the downside, 16300 can act as strong support. The key resistance and support levels for Bank Nifty are 36,000 and 35,000, respectively. 16670-16650 band on the Nifty is proving to be a tough drag. A break of 16510 could lead to a sharper correction down. Q4 GDP figures expected out of India tonight will impact Indian markets on June 1st.

Resistance: 16650, 16750, 16850

Support: 16550, 16450, 16350

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 31 MAY 2022

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Now that last week's US FOMC meeting has provided clarity on another 50 basis point rate hike in the coming months, the market appears to be taking the future hikes with equanimity and will now reverse the bearish trend . Nifty rose for a third straight session on May 30, after positive global cues that China had eased Covid restrictions and strong Friday gains on Wall Street. Local factors boosting sentiment include the early arrival of the monsoon in Kerala, raising hopes of a beneficial impact on agricultural crops. European stocks rose on Monday after China eased some of the pandemic's tightest virus controls, fueling risk appetite for the economic recovery. Indian equities would have been expecting a recovery anyway, having consistently underperformed since early April 2022. Domestic stock market the Sensex and the NSE Nifty 50 index ended nearly 2% higher on 30 May 2022, along with global peers. Sensex closed 1,041 points, or 1.9% higher at 55925, while Nifty closed at 16661. 

TRADING RULE ONE SHOULD MUST FOLLOW IN VOLATILE MARKET TO MANAGE RISK REWARD RATIO

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One of the most common mistakes investors and traders make is to hold on to the weak stocks and average them on each dip and exit strong stocks in anticipation of a dip. This leads to poor performance regardless of how the markets behave. A maximum loss of 2 percent of capital in a single trade can be maintained in order to minimize the magnitude of the loss in any given trade. One should always trade once a pattern is confirmed as excessive volatility is bound to give false signals. This is a time to trade on smaller volumes as follow-up buying remains to be seen across all sectors.

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 30 MAY TO 3 JUNE 2022

Dilip Buildcon 2022-05-30

IRCTC 2022-05-30

WEEKLY RESISTANCE FOR NIFTY: 16400, 16500, 16600

PIVOT POINT: 16250

WEEKLY SUPPORT FOR NIFTY:  16150, 16000, 15800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 16300, 16375, 16425

PIVOT POINT: 16225

DAILY SUPPORT FOR NIFTY:  16150, 16050, 15900

DAILY CHART FOR NIFTY

The Indian equity market started the week with high volatility at the opening bell, led by mixed global signals and domestic macroeconomic developments over the weekend. The benchmark index Nifty50 soon rallied optimism and stepped up to test the crucial resistance zone of 16400 odd levels. However, momentum was exhausted in the second half as broad-based profit bookings were seen on various meters and the benchmark index pared any initial gains to end the day a little above the 16200 level, down just 0.32% . Weak Asian signals led to a tentative start in our domestic market on Tuesday, with the benchmark index falling for the first few hours. The Nifty50 index traded in a tight range for most of the session and endured a lackluster trading day. The correction was exacerbated by the weak end that pulled the Nifty below the 16100 subzone, but some recovery soon followed. Finally, the index ended the day a little above the 16100 level down 0.55%. The price action over the past three days suggests a lack of conviction at higher levels and hence the market gets nervous every time we approach the higher range. On Wednesday, the benchmark Nifty50 index remained under pressure from the first few hours, gradually declining to test the 16000 level. The second half saw a brisk recovery from 16000 but that too was softened by the tipping finish to eventually finish a little above that key point. Despite the luke warmness, the market ended the day in favor of the bears, dropping another 0.62%. Our home market saw an action packed session with a V shaped rally on expiry day on Thursday 27th May 2022. The benchmark nifty50 index started the day with a gap to the upside that soon sold into and broke the psychological barrier to test intraday lows of 15904 odd levels. However, mid-session short covering prompted a lively rally that reduced all of the initial loss, followed by the broad-based optimism that boosted market sentiment and ended the week-long selling frenzy. The Nifty ended the expiry session at the daily high, gaining 0.90%. Nifty built on gains of the previous session on May 27. It opened with an up gap and continued to rise to close almost at the intra-day high. At close, Nifty was up at 190 points at 16360. Nifty gained for the second consecutive week rising 0.53% for the week. Sentiments seem to have turned for the better over the past two days.

NIFTY: A STRONG SUPPORT WILL BE @ 16000; STRONG RESISTANCE LEVEL SEEN @ 16600

A move above 16400 could take the Nifty swiftly to 16600 and later 16800. However, 16200 support needs to be protected.  

TECHNICALLY SPEAKING

Investors who joined the global rally were in a buying mood after favorable retail gains in the US. Falling FII sales also gave solace to the domestic market by lowering volatility. The upcoming RBI monetary policy meeting will be a key factor for the market, where they are expected to announce an additional 25-35bp rate hike. The Nifty had a volatile week, falling below the 16100 level but recovering to close in the green on the weekly chart. The daily chart shows that the recent dip has found support near the 78.6% retracement level which was near 15800. The index then experienced new buying support. On the way up, it cleared certain short-term hurdles and is now approaching the crucial 16400 level again. The index has faced resistance near 16350 for the past three weeks. Once the 16400 level is breached on a closing basis, the index will move up to 16625. On the other hand, the short-term support zone is shifting up to 16250-16200. Nifty remained strong as it held above 16200 throughout the day. Momentum oscillator RSI is in a bullish crossover and rising. Going forward, a decisive move above 16400 is likely to trigger a rally towards 16,700-16,800. At the bottom, supports are visible at 16200/16000.

NIFTY OUTLOOK & TRADING TIPS FOR FRIDAY 27 MAY 2022

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Markets experienced healthy short coverage towards the end of the close, which helped key indices reverse a three-day losing streak. With the US FOMC minutes now out of the way, the market is more or less preparing for the likely rate hikes and hence we saw heavy buying on the F&O expiration. While we may see bouts of selling due to other negative factors such as higher inflation, ongoing FII selling and the Russia-Ukraine conflict, recovery rallies will be seen despite volatility. Benchmark indices broke their three-day losing streak and ended higher, with Nifty hovering around 16200. Finally, the Sensex was up 503 points to 54252 and the Nifty was up 144 points to 16170. On the daily charts, Nifty has formed a leggy hammer formation that supports further upside from the current levels. After the sharp sell-off, the market showed signs of exhaustion and could recover in the short to medium term. Technically, the broad market is in oversold territory and fundamentally, valuations are just below the three-year average. A major reason for the current correction is selling by FIIs and a reduction in domestic buying. A drop in FII sales will be a major reason for the rebound. The measures to be implemented by the FED and RBI in June will be an important factor in this. Additionally, we should note that the fiscal measure announced by the Indian government to control inflation is positive for the domestic market. For the trend-following traders, 16150-16050 would act as a key support zone. If the index trades above it could rally as high as 13250-16350. On the other hand, uptrends below 16050 would be vulnerable. Below that, bulls may prefer to exit the long positions and the index may retest the 16000-15800 level.

Resistance: 16200, 16275, 16350

Support: 16150, 16075, 15875

NIFTY OUTLOOK & TRADING TIPS FOR F& EXPIRY DAY THURSDAY 26 MAY 2022

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Subdued sentiment in the market continued for the third consecutive month as investors chose to liquidate their holdings in still highly valued stocks. Investors are also awaiting the US FOMC minutes, which will provide some clarity on where the market may be headed near-term. Domestic indices faltered, following mixed sentiment in global markets as investors weighed the possibility of a US recession followed by Fed policy tightening. The declines outstripped advances in the broader market, despite measures to curb inflation to rein in exports in sectors that have posted record profits. Global markets are awaiting the release of the Fed's minutes, which will be evaluated for details on the path of upcoming rate hikes. In this whipsaw market, investors can turn to defensive and value stocks and sectors. A look at today's Midcap and Smallcap100 indices reflects the damage done outside of the benchmark indices. Benchmark indices closed lower for the third straight day on May 25, with Nifty below 16100. In the end, the Sensex was up 303 points at 53749 and the Nifty was up 99 points at 16025. Technically, the Nifty has been holding a lower top formation for the past three days on the intraday charts. And a bearish candle has formed on the daily charts, which is largely negative. We think the near-term market structure is weak but in oversold territory. For traders, 16025 would now act as a sacrosanct level. If the index manages to trade above it, it could rally to 16150-16250. Below 16025, however, selling pressure should increase. Below that, the chances of reaching 16000-15900 would improve.

Resistance: 16150, 16250, 16350

Support: 16025, 15975, 15900

NIFTY OUTLOOK & TRADING TIPS FOR 25 MAY 2022

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Indian markets saw a tug-of-war between bulls and bears on 24 May 2022, which was eventually won by the bears as indices ended lower. The Sensex slipped 236 points, to trade at 54052, while the Nifty fell 89 points to 16125. Banknifty outperformed the headline indices, gaining 0.12% to close at 34290. India VIX was up 9.57% from the closing bell to end above 25 levels. Nifty remained directionless during the day which caused volatility in the market. On the upper end, 16300 should remain a short-term resistance. Lower end support remains at 16100-16000. Going forward, volatility could persist in the short term. Any decisive breakout above 16300 can trigger a strong directional move in the market. The Nifty has confirmed the shooting star pattern on a daily time frame, suggesting downward momentum for an upcoming session. Furthermore, Nifty has been trading in a range of 15800 to 16400 for the past 14 days, a breakout on either side can set another direction. Additionally, Nifty has indicated a close below the 21-day moving average, indicating weakness in the meter. However, momentum indicators MACD and Stochastic traded with a positive crossover, reversing from oversold territory on a daily chart, suggesting northbound movement in the counter. The Nifty could find strong support around 16100 while 16,300 on the upside could act as an immediate barrier. On the other hand, Bank has sent support at 33500 while resistance stands at 34600.

NIFTY OUTLOOK & TRADING TIPS FOR 24 MAY 2022

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RESULT FOR 24 MAY 2022

Balrampur Chini

Bank of India

Metropolis

Zee India

The Sensex and Nifty ended lower on Monday after a volatile session, weighed down by a sell-off in metals stocks after the government imposed heavy export taxes on steel products, while gains in auto stocks helped limit some of the losses. The Nifty was down 51 points to 16214 at the close, while the Sensex was down 37 points to 54288. The government and the RBI are making persistent efforts to dampen future inflation. Government fiscal measures such as increasing tariffs on steel and similar measures on other products in the future will help control inflation. However, the restrictive monetary and fiscal measures taken by the RBI and the government will have a cascading effect on the market and economy in the short to medium term. Globally, Asian markets traded mixed while European markets traded higher as traders attempted to end a downturn in global equities sparked by rising inflation and fears that major economies are slipping into recession. Technically, Nifty formed a bearish candle on the intraday period. The bulls remain trapped as no continuous daily index closed green for the past week. On the hourly chart, Nifty has formed a triple top pattern indicating weakness in the coming days but sees a negated close and a hold above the 16350 level. Indicators like the RSI still remained in the oversold territory, while the MACD also suggests imminent weakness. The Nifty could find support around the 16100 levels followed by 15800 while on the upside 16450 could act as an immediate hurdle. On the other hand, Bank sent support at 33400 while resistance stands at 32600.

Resistance: 16250, 16350, 16450

Support: 16150, 16050, 15950

How much money do you need to trade options?

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If you’re looking to trade options, the good news is that it often doesn’t take a lot of money to get started. As in these examples, you could buy a low-cost option and make many times your money. However, it’s very easy to lose your money while “swinging for the fences.” If you’re looking to get started, you could start trading options with just a few hundred dollars. However, if you make a wrong bet, you could lose your whole investment in weeks or months. A safer strategy is to become a long-term buy-and-hold investor and grow your wealth over time.

Bottom line

While options typically involve a high level of risk, traders can turn to several basic strategies that feature limited risk. Here's how even risk-averse traders can use options to increase their overall returns. However, it's always important to understand the downsides of an investment so you know what you could potentially lose and if it's worth the potential gain.

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 23 MAY TO 27 MAY 2022

REUSLT AHEAD

23 MAY  2022 DivisLabs, Sail , Zomato

24 MAY 2022 Balrampur Chini ,Bank of India , Zee India

25 MAY 2022 BPCL , Coal India , Nalco , NMDC,

26 MAY 2022  Cummins, Zeel, JSW Steel ,

27 MAY 2022 BEML, India Cement

28 MAY 2022 M&M , ONGC

WEEKLY RESISTANCE FOR NIFTY: 16400, 16500, 16600

PIVOT POINT: 16250

WEEKLY SUPPORT FOR NIFTY:  16150, 16000, 15800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 16300, 16375, 16425

PIVOT POINT: 16225

DAILY SUPPORT FOR NIFTY:  16150, 16050, 15900

DAILY CHART FOR NIFTY

Trading for the week started on a comfortable note despite sluggish global signals. In the first hour, gains reached as high as the 16000 mark. Similar to the recent trend, profit booking took place at higher levels to wipe out any mid-session gains. Although the market recovered slightly thereafter, the overall move was quite choppy to end the day at around 15850 with gains of almost four tenths of a percent. On Tuesday the early morning global trading screen was comfortable and as a result our markets started with a modest upward gap slightly above 15900. However, momentum accelerated throughout the day across the heavyweight areas to send Nifty comfortably above 16250 on a closing basis. Contrary to the last few sessions, the bullish rally should continue and did not give up in the second half. The robust recovery period ended with whopping gains of 2.63% to bring back a bigger smile to the trading community. Tuesday's massive rally was followed by another gap that opened with modest gains on Wednesday. We definitely shrugged when the SGX Nifty indicated a slow start this morning. In the early trades, Nifty extended gains towards 16400 but failed to sustain higher levels. Around the middle of the session, the key indices pared all gains and slipped marginally into the red. Luckily, immediately after mid-session, Nifty pulled back to 16350 with a nifty recovery, again tempting to end the choppy session on a flat note. Thursday open was painful as Nifty opened nearly 300 points lower on the massive overnight sell-off in US bourses. This certainly caught many momentum traders off guard who had continued their longs after Tuesday's sharp bounce. Barring a negligible bounce in the initial trades, the index continued to slow down to test the 15800 level. But fortunately there was no major damage compared to the global screen during the day. Finally, the tragic weekly expiry day ended with a drop of over two and a half percent from the previous close. The bulls were back on Dalal Street on Friday, chasing global gains, as the Sensex closed 1,534 points higher, while the Nifty50 closed at 16266, up 457 points.

NIFTY: A STRONG SUPPORT WILL BE @ 16500; STRONG RESISTANCE LEVEL SEEN @ 15700

After experiencing a sharp decline over the past two weeks, stock markets ended this week on a positive note. However, according to global cues, Indian stock markets have great volatility. Benchmark indices like the Sensex 30 and Nifty 50 posted gains of between 2-3%. Overall market breadth was positive, with gains in mid-cap, small-cap and most key sector indices. The metals sector rebounded strongly after the steep correction of the past few weeks. The BSE IT index was down this week in an otherwise positive market. FIIs continued to sell in India. Markets remained cautious on global growth and inflation expectations. As earnings season moves into its final leg, the focus will be more on the macro data points. Global central banks' monetary tightening amid high inflation will continue to weigh on market sentiment. Technically, after a sharp price correction, the Nifty finally took the support near 15775 and rallied strongly. On weekly charts, the Nifty has reclaimed 16000 and is trading comfortably above the 10-day SMA. The reversal formation is likely to continue if the index manages to trade above 16000-16100 and above that it could rally as high as 16400-16500. Another uptrend could continue, which could take the index as high as 16600. However, below 16200 the uptrend would be vulnerable and the index could reach the 15800-15600 level.

TECHNICALLY SPEAKING

The Nifty has formed Open Bullish Marabozu on a daily timeframe, suggesting bullish momentum for an upcoming session. Additionally, Nifty has been trading in a 15800-16400 range all week, crossing both sides to take another direction. Additionally, Nifty has indicated a close above the 9-day moving average, suggesting that a recovery from lower levels is in sight. However, momentum indicators MACD and Stochastic traded with a positive crossover, reversing from oversold territory on an hourly chart, suggesting a northbound movement in the meter. The Nifty could find strong support around the 16500 level while 16400 could act as an immediate barrier on the upside. On the other hand, Bank sent support at 33000 while resistance stands at 34500.

NIFTY OUTLOOK & TRADING TIPS FOR 20 MAY 2022

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The defeat in other Asian indices and European gauges triggered a massive sell-off in local stocks as both Sensex and Nifty closed below their crucial psychological levels of 53000 and 16000 respectively. Investors fretted over stagflation risks and the US Federal Reserve's more hawkish stance on curbing inflation, opting for further rate hikes that would have a bigger impact on the future economy. Until FIIs remain net sellers, it will be difficult to reverse the journey south. Furthermore, the Nifty formed a bearish candle after the gap down opened, suggesting further weakness from current levels. Recent gains reported by US retailers reflected the heat of high retail inflation, leading to defeat on Wall Street. Indian benchmark indices closed lower for the second straight session on May 19 with Nifty closing near the 15,800 level. At the close, the Sensex fell 1416 points to 52792 and the Nifty fell 430 points to 15809 along with mounting fears of an economic slowdown wreaked havoc on the domestic market. In this highly volatile market, investors can focus on sectors such as FMCG, pharmaceuticals, capital goods and manufacturing, where valuations are moderate and reasonable over the long term. The Nifty ended near the daily low, closing at 15800. The broader indices also traded in sync with the benchmark, losing in the 2.5-3% range. This drop shows that the bears are in control as the Nifty has completely reversed recent gains and is back closer to the March lows. And the signs of the global indices, especially the US markets, are pointing to a further decline. Traders should adjust their positions accordingly. Currently, the index is trading near the 15725-15775 support level, so a quick pullback rally is not out of the question if the index manages to trade above 15800.As long as the index trades below 15800 the corrective wave for traders is likely to continue and below that it could retest the 15700-15600 level. On the further downside, the index could slip to 15500. On the other hand, above 15950 the Nifty could rise to 16050-16100

Resistance: 15800, 15900, 16000

Support: 15700, 15600, 15500

NIFTY OUTLOOK & TRADING TIPS FOR 19 MAY 2022

The sharp rally in the previous session failed to excite today's 18 May 2022 trading as the market did not benefit from the firm start and rather ranged to finish marginally lower. The rampant selling of FII weighs on investors and worries of subdued growth as interest rates raise weigh on sentiment. . After trading higher in morning trades, the market became volatile in midday trades on Wednesday, ending with minor losses. The Sensex closed 110 points lower at 54208 and the Nifty Shit Shop 19 points lower at 16240, a day before the end of weekly F&O. Nifty found resistance at the key resistance at 16400 and slipped below it before closing with a minor loss. On the daily chart, the index remained well below the short-term moving average. The daily RSI is in the bullish crossover. On the daily charts, Nifty has formed a small bearish hammer type of candlestick pattern, suggesting some range bound activity in the near future. For intraday traders, the 16200 to 16100 levels would act as key support zones. Above that, the index could rise to 16400-16500. On the downside, below 16100 could be vulnerable and retest 16000 -15900 levels. The trend should remain sideways in the short term. Resistance at the upper end is 16400. At the lower end, support is visible at 16000.

Resistance: 16300, 16400, 16500

Support: 16200, 16100, 16000

NIFTY OUTLOOK & TRADING TIPS FOR 18 MAY 2022

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The bulls roared back on Dalal Street as Nifty ended above 16250. Metal Pack, where the star performers shine as major benchmark indices surged amid positive signals from Asian and European stock markets amid prevailing inflation and stagflation fears. Markets staged a significant recovery rally as the recent slump had pushed key indices into oversold territory. Traders covered their short positions in several distressed stocks that pushed key benchmarks today. However, the rally may be short-lived as unabated FII selling combined with concerns about further rate hikes to tame inflation could fuel volatility. On the daily charts, Nifty has formed a long bullish candle that is broadly positive in the near term. Benchmark indices closed higher for the second straight session with Nifty closing above 16,250. To finish, the Sensex was up 1344 points, to 54318 and the Nifty was up 417 points, to 16259. The biggest positive catalyst was that China - the largest consumer of manufactured products - eased Covid-19-related restrictions. Optimism was so strong that the bulls shrugged off LIC's poor listing performance (8% drop to Rs. 873 from the issue price of Rs. 949). The next move could see Nifty's bulls likely to scale as high as 200 DMA from 17253. Support is seen for the index at 16000 and below that level, Nifty could quickly rally to the 15671 level. The Nifty has traded sideways for the past few sessions. It had formed a doji pattern on the daily chart on May 16, which was a sign of indecisiveness in the minds of market participants. In terms of price patterns, the hourly chart's Nifty had formed a triangle pattern. On May 17, the index broke out of this indecisive period to the upside. On the way up, the index breached the 16000 level as well as the major hourly moving averages, further bolstering the bulls. All of these observations suggest that the Nifty has turned its short-term trend positive. For the trend following traders 16150 would be the trend decision level above which the positive momentum is likely to continue to 16350-16425. On the upside, a quick intraday correction is possible if the index slides below 16125. Below that, the index could retest the 16050-16000 level.

Resistance: 16350, 16400, 16450

Support: 16250, 16200, 16150

NIFTY OUTLOOK & TRADING TIPS FOR 17 MAY 2022

Markets traded in a narrow band for volatility and eventually settled slightly higher. Initially, the benchmark opened on an uptrend, being led by its global counterparts, but pressure from IT majors and select heavyweights from other sectors limited the upside. Sector indices traded mixed while trading was cautiously defensive. Meanwhile, the broader indices, mid-cap and small-cap, outperformed and kept participants engaged to the end. The recent spate of negative news has prompted investors to reduce their exposure to equities. At one point the benchmark indices were doing great, but profit-taking again caused the markets to pare most of their early gains to end marginally higher. The Indian benchmark indices finally ended their losing streak and ended the day on a positive note with Nifty closing at 15842 and Sensex closing at 52973. Investor sentiment was boosted after data released by CMIE suggested around 8.8 million people entered the labor market in April. However, indices soon reversed and entered negative territory amid weak Asian market signals due to a 2.9% yoy decline in China's industrial production. There are concerns that raising interest rates to dampen higher inflation could hurt growth and lead to a further correction. The Nifty has been range bound from 15765-15950 and the chart structure suggests a strong possibility of continuation of range bound activity in the near term. For the bulls, 15950/53300 would be the immediate resistance level and above that we could see a sharp intraday pullback rally to 16000-16100. On the other hand, 15750 could be the immediate support level and below the same odds of hitting 15700-15600 it would be bright. As markets closely follow global cues, the US markets rebound raises hopes for some domestic recovery as well. However, we recommend participants to proceed with a cautious stance until we see signs of a reversal in the Nifty Index. Sectors now offer trading opportunities on both sides, so the focus should be more on stock selection and risk management. The Nifty opened on a positive note, trying to build on early gains. On the higher side, however, it stumbled near the 16000 mark. Thus, the index oscillated throughout the day, eventually forming a doji pattern on the daily chart. This shows indecisiveness in the minds of market participants.  The index is expected to remain under pressure as long as it trades below 16,000. In this case, it can test the March low of 15671. On the other hand, if the bulls manage to clear 16,000 on a closing basis then the Nifty can make a bounce towards 16200-16250.

Resistance: 16000, 16200, 16500

Support: 15800, 15600, 15400

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 16 MAY TO 20 MAY 2022

WEEKLY RESISTANCE FOR NIFTY: 16000, 16250, 16500

PIVOT POINT: 15750

WEEKLY SUPPORT FOR NIFTY:  15550, 15250, 15000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15900, 16000, 16100

PIVOT POINT: 15800

DAILY SUPPORT FOR NIFTY:  15700, 15600, 16500

DAILY CHART FOR NIFTY

Our market started the week on a weak note, gapping lower, following weakness in global stock markets. Benchmark index Nifty50 tumbled in the first few hours to test odd levels below 16150, suggesting weaker sentiment. Gradually the market gained control of the decline and recovered from the lower bottoms to stem the initial loss and ended the day marginally lower at 16302. Indian equities started Tuesday's session subdued, led by the mixed global indicators, with the benchmark Nifty50 index seeing mild range-bound movement throughout. There was no significant movement in the primary index until a sell-off triggered by the end of the doldrums, which certainly showed the reluctance of market participants. After the lackluster session, Nifty ended the day in red down just 0.38%at 16240. Our market started Wednesday's session on a stable footing, led by the overnight rebound in the global market. The benchmark Nifty50 index saw a flat open that soon turned into a correction as a broad sell-off triggered and tested the 16000 odd zone at the bottom. The bear market intensified; However, the market is catching the fall in the second half and is beginning to fear cutting losses. The rebound was quite significant, with Nifty ending the day down just 0.45%, just above the 16150 level. The Indian stock market tumbled on Thursday, trailing global bourses, with the benchmark Nifty50 index underperforming since the start of the session the psychological mark of 16000 fell. Weakening macro factors have dampened overall sentiment as we witness relentless selling pressures in equities. The index ended the day down another 2.22%in red to settle at the 15808 level by weekly expiry. On Friday Indian markets started on a positive note but later wiped off all the gains in later half. Benchmark indices erased all the intraday gains and ended lower for the sixth consecutive session on May 13. At close, the Sensex was down 136 points at 52793, and the Nifty was down 25 points at 15782. In India, the CPI inflation in April 2022 surged to 7.79% (March 2022 : 6.95%), while March 2022 IIP growth remained subdued at 1.9% (February 2022: 1.5%).  FII’s continued their selling of Indian equities this week. Rising bond yields, high inflation levels and monetary policy tightening action by Central Banks globally will weigh on near term sentiments which could keep markets volatile. Stock specific action will continue due to ongoing result . However, the weakness seen in the banking sector triggered a late selloff. The US Fed cautioned against an aggressive policy stance in order to bring inflation under the Fed’s comfort zone of 2%.

NIFTY: A STRONG SUPPORT WILL BE @ 17400; STRONG RESISTANCE LEVEL SEEN @ 17800

For traders, 15700  would act as a key resistance level and below which the index could slip till 15500. However, 15900 would be the immediate trend reversal level for the bulls and above which we could see a strong pullback rally up to 16200-16500.

TECHNICALLY SPEAKING

Monday's session got off to a jittery start as global sentiment remained jittery over the weekend. The index remained range bound for the first half of the week and despite some challenges, Nifty managed to hold 16,000 on a closing basis. On Thursday, however, banking finally succumbed to the sell-off, taking Nifty below the psychological point to mark its lowest close in the last ten months. On Friday we started significantly higher on global relief; but once again our market failed to sustain higher levels and eventually wiped out all gains in the second half. As a result, Nifty again lost almost 4% on a weekly basis. Global macro factors have weighed heavily on financial markets around the world and we are certainly not spared. The oversold market is in denial mode to stage a small recovery; in fact Friday's rebound was fully sold near the end of the fag. That certainly doesn't bode well for the Bulls. The recent low of 15671 is not far from the current levels now and the moment we slide below it it will create some kind of panic situation in the market. Below that, 15350 - 15200 are the next levels to watch out for. On the other hand, 16000 - 16200 has now become a firm hurdle. The first signs of relief are only possible above these values. Until then, one should avoid trading aggressively in the market. Taking a look at the weekly timeframe chart, we can see a sheet anchor in the form of 89-EMA placed around 15600. . In the past, this moving average has proven its worth and cushioned severe price declines. It would be very interesting to see how the market behaves around him. Therefore, although the trend is currently sharply down, we advise investors with a slightly broader time frame to start nibbling on quality offers. With global factors fully driving the markets, traders should keep a close eye on all these developments. Technically, The Nifty has formed a bearish candle on the weekly chart, indicating downward movement for the upcoming session. Additionally, Nifty faced resistance from a rising trend line and showed selling pressure, a sign of selling at higher levels. Additionally, Nifty has been held below the neckline of the Head & Shoulder pattern, indicating the south direction for the upcoming session. However, momentum indicators MACD & Stochastic traded with a negative crossover and entered oversold territory. So far, however, there is no reversal sign. The Nifty could find support around the 15,700 level while 16,100 upside could serve as an immediate hurdle for the Nifty crossing above which it can attract fresh buying. On the other hand, Bank sent support at 32600 while resistance stands at 34000.

NIFTY OUTLOOK & TRADING TIPS FOR 13 MAY 2022

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Indices continued selling for the fifth straight session in 12 may 2022, with Nifty closing around 15800. Benchmark indices fell 2.5% in afternoon trade on weak global signals as investors posted gains that failed to solve the puzzle of oil, war, currency, inflation and interest rates. Expectations of a high CPI for April coupled with margin pressures on fourth quarter earnings continue to fuel selling pressures in equities, as reflected in the number of stocks hit yearly lows today as the Sensex broke 53k and all sector indices ended deep in the red. At the close, the Sensex was down 1158 points to 52930 and the Nifty was down 359 points to 15808, Markets remain under pressure in synchronous global markets. For Nifty50, short-term sentiment remains weak as resistance stands at 16200, yet to see a strong reversal attempt and confirmation. Medium term trend support stands at 15600, breaking it could have significant impact in the short term.

Resistance: 16000, 16200, 16500

Support: 15800, 15600, 15400

NIFTY OUTLOOK & TRADING TIPS FOR 12 MAY 2022

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Markets showed volatility but ranged before finishing lower as investors reduced positions in IT, telecom and auto stocks. The lack of new positive signs is forcing investors to dump stocks and switch to safer havens like gold etc. Investors remain cautious, although global markets are trading in the green on falling domestic investor confidence and selling by FIIs. Indices showed extreme volatility today ahead of this week's CPI and IIP data. While we saw a significant recovery in indices during afternoon trade, market breadth was very weak as several stocks in the broader market faced major selling pressure as the small-cap index lost 3%. Indian benchmark indices closed lower for the fourth straight session in which Nifty closed below 16,200. At the close, the Sensex was down 276 points to 54088 and the Nifty down 73 points to 16167. The market became volatile while awaiting the release of US inflation data for April, which is expected to cool slightly. Inflation will remain elevated but the likelihood of any major reaction is low as markets have priced it in. The key determinant of market direction would be the pace of inflation decline in response to the Fed's actions. 

NIFTY OUTLOOK & TRADING TIPS FOR 11 MAY 2022

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Investors sold off metals, power and oil & gas stocks on concerns about a weak global economic growth outlook that caused major benchmark indices to plummet. Traders are concerned that central banks in the major developed economies could raise interest rates further to dampen rising inflation, which could weigh on growth and lead to further outflows of foreign funds from emerging markets, including India. Market ended Tuesday lower as headline indices gave up all gains in the final hour of trading. The Sensex closed 105 points lower at 54364 points, while the Nifty closed 61 points lower at 16240. Bank Nifty outperformed, closing 0.60% higher while India VIX stayed above 22. Tata Steel was the worst-performing Sensex stock on Tuesday, down 7.22%, followed by Sun Pharma and NTPC. Hindustan Unilever was the top performer, up 3%. Asian Paints, IndusInd Bank and Ultratech Cement were some of the other winners. Technically, after a subdued opening market, the Nifty rallied intraday but once again found resistance near 16405 and corrected sharply thereafter. On intraday charts, the index is still holding a lower top formation, which is largely negative for the market. For traders, 16175 would be the key level to watch out for and below there is a strong possibility of a quick intraday correction to the 16150-16050 levels. Above the 16350 level, a renewed pullback rally is not ruled out and above that, the index would retest the 16450 -16500 level.

Resistance: 16300, 16350, 16400

Support: 16250, 16200, 16150

NIFTY OUTLOOK & TRADING TIPS FOR 10 MAY 2022

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The markets started the week weakly and lost more than half a percent in continuation of the prevailing correction phase. Weak global cues triggered a gap-down start followed by volatile swings to the end. Finally, the Nifty ended at 16,310 levels, down 0.6%. Indian equity benchmarks slid to fresh two-month closing lows on Monday, trailing losses in global equities amid concerns about rising interest rates and the impact of a tightening lockdown in Shanghai on global economic growth. Oil & gas, financials, consumer and metals stocks were the biggest detractors for both benchmark indices. The Sensex fell as much as 917 points during the session to 53918 and the broader Nifty slipped as low as 16142, down 269 points from its previous close. Those were the lowest intraday levels since March 9th. We saw no respite in global markets, particularly in the US, and largely reflected the same trend on our side as well. Also, mixed Q4 results add to the further negativity. We reiterate our view that we will focus on increasing short opportunities until we see signs of a reversal. On the index front, the 16050-16000 support in Nifty is intact and the 16500 -16600 zone would act as an immediate hurdle. Nifty closed with a green candle as the market recovered from the lows. The entire pullback from 18100 is in three legs, a classic AB=CD pattern is formed and if we take the entire price action from the March 2022 low. The pattern in play is a Gartley 22 XABCD pattern. Gartley 22 is a harmonious pattern and indicates temporary trend exhaustion. The typical target for Gartley 22 is a 38.2 retracement from the high. This gives us a minimum target of 16900 which can extend to 17400. Also, the Nifty has formed a bullish harmonic pattern that indicates a quick recovery in the markets. Nifty is currently in a key support zone and is stabilizing in this zone. Nifty needs to trade above 16450 to establish a short term bottom and propel higher levels. Support for Nifty stands at 16050-16000 and if Nifty breaks below 16000 a drop to 15800 is possible. Nifty is in an extremely oversold state and it is very likely that the markets will start a sharp reversal from here. Avoid being heavily on the short side of the market.

Resistance: 16200, 16500, 16700

Support: 16000, 15800, 15600

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 9 MAY TO 13 MAY 2022

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WEEKLY RESISTANCE FOR NIFTY: 16600, 16800, 17000

PIVOT POINT: 16400

WEEKLY SUPPORT FOR NIFTY:  16200, 16000, 15800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 16450, 16550, 16650

PIVOT POINT: 16350

DAILY SUPPORT FOR NIFTY:  16250, 16150, 16050

DAILY CHART FOR NIFTY

Developments around the globe over the weekend were not in favor of the bulls and as a result Monday morning's SGX Nifty indicated a gap-down open of more than 200 points. We started the week almost like that; but fortunately there were no follow-up sales in the first hour. Indeed, Nifty consolidated in a narrow area around 17000 for most of the session and due to some buying momentum towards the end, the Nifty managed to clip much of the losses. Finally, our markets ended the session with a negligible loss above the 17050 level. After a mid-week pause of Tuesday on account of EID, our markets started the Wednesday session on a comfortable note as they followed favorable signals from global bourses. The gains didn't last too long, however, as we saw a gradual correction in the hours that followed. The benchmark Nifty index appeared to have settled a bit around 16900 but a surprise RBI rate hike triggered a massive sell-off in the last hour and a half to break all key levels in a row. The massive sell-off following RBI's surprise rate hike was followed by a decent price gap on the weekly expiration day on Thursday 5 may 2022. This was mainly due to a strong rebound seen in US markets overnight. The Sensex ended flat with a marginal gain of 33 points at 55702, while the Nifty ended the day with a small gain of 5 points at 16,682. Markets continued the corrective trend on Friday, losing nearly a percent and a half. Weak global cues triggered a gap down start followed by a range bound session to the end. The Nifty index ended up down 1.5% to close at 16,411 levels. Among sectors, apart from power, all other indices ended lower, with realty, metal and consumer durables being the top detractors. The broader indices also lost in the 1.5% to 2% range.

NIFTY: A STRONG SUPPORT WILL BE @ 17400; STRONG RESISTANCE LEVEL SEEN @ 17800

Markets will react to the Reliance number in early trade on Monday and then shift to the global indicators. Rising fears of aggressive US Federal Reserve rate hikes have unsettled investors around the world, including India. On the index front, the Nifty has tested the crucial 16400 support zone and signs suggest the prevailing decline will continue with some pause/recovery in between. In the event of a recovery, the 16600-16800 zone would act as a hurdle. Participants should adjust their positions accordingly and use the rebound to create shorts.

TECHNICALLY SPEAKING

Markets moved south from the start of the trading session and selling intensified thereafter as rising crude oil prices fueled renewed fears that inflation would be a major challenge going forward. The RBI's hawkish stance could hurt growth. Technically, the Nifty is consistently trading below the 200-day and 50-day SMA, which is broadly bearish. Additionally, it has formed a long bearish candle on weekly charts, supporting further weakness from current levels. On intraday charts, the index consistently holds a lower top formation that also supports short-term weakness. For traders, 16300-16100 would be the key support level. However, a quick intraday pullback rally is not out of the question if the index manages to trade above 16100. Above that, the pullback rally could continue to 16600-16800. Below 16100 selling pressure is likely to intensify and below that the Nifty could reach 16000-165800 levels.