NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 6 JUNE TO 10 JUNE 2022

WEEKLY RESISTANCE PIVOT POINT WEEKLY & CHART

Type	R1	R2	R3	PP	S1	S2	S3
Classic	16,543	16,734	17,054	16,223	16,032	15,712	15,521
Fibonacci	16,418	16,539	16,734	16,223	16,028	15,907	15,712
Camarilla	16,399	16,446	16,492	16,223	16,305	16,258	16,211

DAILY RESISTANCE PIVOT POINT SUPPORT CHART  

Type	R1	R2	R3	PP	S1	S2	S3
Classic	16,701	16,775	16,905	16,572	16,498	16,369	16,295
Fibonacci	16,650	16,698	16,775	16,572	16,494	16,446	16,369
Camarilla	16,646	16,665	16,683	16,572	16,609	16,590	16,572

Our market's late recovery over the past week appears to have anticipated some easing on the global front. Consistent with this, we see a comfortable environment globally, which has resulted in a gap opening in domestic markets to start the week cheerfully. The leading index, the Nifty, opened up almost 200 points to set the tone for the entire week. As the day progressed, gains gradually extended across the index, but a number of individual stocks performed extremely well and continued to hum throughout the remainder. Finally, the bullish day ended convincingly above 16600, with the bulls pocketing a few more % into Friday's close. Our markets started Tuesday sluggishly as indicated by the Nifty earlier this morning. However, post the opening; We saw a gradual recovery to almost test the 16700 level. But as we entered the last hour the market was looking jittery which eventually led to a sharp decline to end the day just below 16600, losing nearly half a percent from the previous close. Although indicated a slow start on Wednesday, our markets opened marginally in the green at 16600. Some consolidation followed in the first half of the year; but as we entered the latter, some hesitancy was evident in the broader market. As a result, the Nifty crept below 16500 and even slipped slightly below 16450 in the hour before last. Luckily the banking room came to a rescue and lifted the market to eventually reclaim the 16500 on a closing basis. The Indian stock market enjoyed a strong expiration session on Thursday, with the tentative open led by weak Asian cues being bought by D-Street bulls. The grand move was supported by broad-based buying, which boosted overall market sentiment and showed participants' resilience. The benchmark index ended the expiration session near the daily high with gains of 0.64% and has reclaimed the 16600 level. On Friday 03 june 2022 The benchmark indices ended moderately lower amid volatile session, while the broader space was under selling pressure. The Sensex fell more than 600 points from day's high to end with 49 points loss at 55769, and the Nifty50 shed 44 points to 16584.

NIFTY: A STRONG SUPPORT WILL BE @ 16200; STRONG RESISTANCE LEVEL SEEN @ 17000

Nifty formed a bearish candle on the daily scale while it formed a small-bodied bullish candle on the weekly scale, suggesting no follow-up buying and continued supply pressures at higher levels. Now it needs to hold above 16550 for an upward move towards the 16800 and 17000 zone while placing supports at the 16442 and 16400 zones.

TECHNICALLY SPEAKINGNifty's short-term uptrend status remains intact with no signs of a reversal from the highs yet. Further weakness from here could find strong support around the 16500 – 16300  levels and the Nifty could show upward movement from the lower levels. A sustained move higher could only be resumed above the 16800 hurdle.

 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 3 JUNE 2022

After a slow start, markets rebounded sharply on renewed optimism as investors bought shares in the recently battered IT and oil & gas stocks. In fact, Indian stocks outperformed other Asian peers, most of which ended in negative territory. At the time of Market close the indices ended the session on June 2 on a positive note, with the Sensex gaining 436 points to 55818 and the Nifty gaining 105 points to 16628. Reliance rose over 3% to close at a 1-month high, lifting Nifty by 68 points.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 2 JUNE 2022

Nifty closed lower on June 1 for the second straight month. Nifty opened flat and started falling slightly after 11:45. It formed a bottom at 2:45 p.m., after which a small recovery was seen. At the close, Nifty was down 38 points at 16546. Volumes on the NSE were lower than recent averages. Nifty has gradually corrected the earlier move higher and may soon see the next leg up. 16414 is an important support. Indian benchmark indices ended the day negative with Nifty50 closing at 16522 and Sensex closing at 55381. Benchmark indices got off to a cautious start given mixed global market signals. Markets entered green territory late morning, led by strong buying in metals, PSU and oil & gas scrips. But soon the euphoria faded as the sell-off in IT scrips dragged the market into negative territory below the crucial 16525 level, although markets rallied in the last session and closed above the crucial level 16500. On the technical side, the key resistance levels for Nifty50 lie at 16600 and on the downside, 16400 can act as a strong support. The key resistance and support levels for Bank Nifty are 36000 and 35200 respectively. Nifty remained choppy for the coming days as the benchmark index ended with no directional move. On the upside, 50-EMA acted as a key resistance. However, the Nifty did not slip very far from the previous close. The trend remains sideways in the short term. Support is visible at 16350 while on the upper end resistance at 16600 is likely to remain intact.

Resistance: 16550, 16650, 16750

Support: 16450, 16350, 16250

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