NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 22 DEC 2023

After a positive start marked by a gap-up opening, the Nifty experienced a downturn, slipping below crucial support levels and concluding the session close to the day's lowest point. The Bank Nifty also traded negatively, settling below the robust 47500 support level. The overall market sentiment was bearish, with the Sensex declining by 1.30 % to close at 70506. The Nifty followed suit, registering an intraday loss of 1.41 % and closing at 21150. Bank Nifty exhibited a negative trend as well, ending the day down by 0.89 % at 47445. Across various sectors, all indicators were in the red, with Nifty PSU Bank, Nifty Metal, and Nifty AUTO witnessing the most significant losses at 4.04%, 3.82%, and 2.28%, respectively. Among Nifty stocks, ONGC, Tata Consumer Products, and Britannia emerged as top gainers, while Adani Ports, Adani Enterprises, and UPL faced notable declines. The India VIX showed a positive trend, rising by 4.18 % intraday to settle at 14.45. The Nifty index found support in the 21000-20900 zone. Examining the Open Interest (OI) data, the call side displayed the highest OI at 21500, followed by 21400 strike prices. On the put side, the highest OI was observed at the 21000 strike price. For Bank Nifty, support levels were identified at 47100-46900, with resistance at 47700 and 48000 levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 21 DEC 2023

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After an upward gap at the opening, Nifty experienced a decline below crucial support levels and concluded the session near its daily low. Bank Nifty exhibited negative trading throughout the day, closing below the robust 47500 level, which served as a strong support. The market displayed a bearish trend, with the Sensex losing 1.30 percent and settling at 70506.31. Nifty, on the other hand, experienced an intraday drop of 1.41%, closing at 21150. Bank Nifty closed in the negative, with a 0.89% decline, settling at 47445. All sectors ended in the red, with Nifty PSU Bank, Nifty Metal, and Nifty AUTO experiencing the most significant losses at 4.04%, 3.82%, and 2.28%, respectively. Among Nifty stocks, ONGC, Tata Consumer Product, and Britannia emerged as the top gainers, while Adani Ports, Adani Enterprise, and UPL were notable laggards. India VIX showed a positive trend with a 4.18% intraday increase, settling at 14.45. The index is supported around the 21000-20900 zone. Examining the Open Interest (OI) data, the highest OI on the call side was observed at 21500, followed by 21400 strike prices. On the put side, the highest OI was at the 21000 strike price. For Bank Nifty, support is identified at 47100-46900, with resistance levels at 47700 and 48000.

"Capital Surge Ahead: 12 Companies, Including Muthoot Microfin and Electro Force, to Raise 4,600 Crore in Upcoming IPOs This Week"

In the upbeat atmosphere of Dalal Street, where benchmark indices, broader markets, and various sectors consistently achieve new milestones, the primary market is witnessing increased activity. This offers multiple investment opportunities as 12 companies are scheduled to launch their initial public offerings (IPOs) in the upcoming week, accompanied by eight planned new listings. The week starting December 18 is poised to be vibrant, with the introduction of 12 new IPOs set to collectively raise ₹4,600 crore, surpassing the ₹4,000 crore raised in the previous week. One significant factor driving the heightened interest in IPOs is a renewed focus on profitability and reasonable pricing, especially in comparison to higher valuation multiples observed in listed peers. The upcoming week is anticipated to be promising, with over half a dozen companies entering the market with their IPOs. Notable IPOs include Inox Limited, Muthoot Microfin, Motisons Jewellers, Suraj Estate, Happy Forgings, RBZ Jewellers, Credo Brands, and Azad Engineering. The overall trend suggests a robust capital raise in the coming year as well, with over 65 IPO documents filed with Sebi, and 25 already receiving Sebi approval. According to data, the cumulative fundraising by 239 companies in the current calendar year, including SMEs, is projected to reach ₹57,720 crore. Although slightly below the ₹61,900 crore raised by 150 IPOs in the preceding year, the figures indicate a healthy fundraising environment.

Here's a snapshot of some of the upcoming IPOs:

Muthoot Microfin Limited IPO: Subscription opens on December 18, 2023, and closes on December 20, 2023. The IPO comprises a book-built issue of ₹960 crores with a price band set at ₹277 to ₹291 per share.

Suraj Estate Developers IPO: Subscription opens on December 18, 2023, and closes on December 20, 2023. The book-built issue amounts to ₹400.00 crores, with an IPO price band of ₹340 to ₹360 per share.

Motisons Jewellers Limited IPO: Subscription opens on December 18, 2023, and closes on December 20, 2023. The book-built issue is ₹151.09 crores, and the IPO price band is set at ₹52 to ₹55 per share.

Happy Forgings Limited IPO: Subscription opens on December 19, 2023, and closes on December 21, 2023. The book-built issue, including a fresh issue of ₹400 crore and offer for sale, has a price band of ₹808 to ₹850 per share.

Credo Brands Marketing Limited IPO: Subscription opens on December 19, 2023, and closes on December 21, 2023. The book-built issue is ₹549.78 crores, and it is entirely an offer for sale with a price band of ₹266 to ₹280 per share.

RBZ Jewellers Limited IPO: Subscription opens on December 19, 2023, and closes on December 21, 2023. The book-built issue of ₹100.00 crores comprises an entirely fresh issue with a price band of ₹95 to ₹100 per share.

Azad Engineering Limited IPO: Subscription opens on December 20, 2023, and closes on December 22, 2023. The book-built issue of ₹740 crores includes a combination of fresh issue and offer for sale, with a price band of ₹499 to ₹524 per share.

Innova Captab Limited IPO: Subscription opens on December 21, 2023, and closes on December 26, 2023. The book-built issue of ₹570 crores comprises a fresh issue and offer for sale, with a price band of ₹426 to ₹448 per share.

Apart from the IPOs, new listings for the week include DOMS Industries, Indian Shelter Finance Corporation, Presstonic Engineering, S J Logistics (India), Shree OSFM E-Mobility, Siyaram Recycling Industries, Benchmark Computer Solutions, and Inox India Limited, with tentative listing dates specified.

The dynamic activity in both IPO launches and listings signals an optimistic outlook for Dalal Street in the coming days.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 20 DEC 2023

On December 19, the Indian benchmark indices closed with slight gains after a highly volatile session, ending positively by 34 points. The Nifty marked a new all-time high at 21,505, with a Hammer candlestick pattern forming on the daily chart, indicating potential bullish momentum. A breakout above the 21,500 level could pave the way for further upward movement, targeting 21,650 and 21,750 in the upcoming days. The Nifty is likely to consolidate within the range of 21,230 to 21,500. Key support levels are at 21,300–20,200, while resistance is seen at 21,500–21,700. Despite fluctuations, the overall trend remains positive, and any current dip is viewed as a buying opportunity. Similarly, the Bank Nifty is in consolidation mode within the 47,600 to 48,200 range. Crucial support is at 47,500, and as long as it holds, the Bank Nifty is expected to resume its upward trajectory towards 48,200. Overall, the trend remains positive, and declines towards 47,700–47,600 should be considered as opportunities for buying.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 18 DEC 2023

Dalal Street reached new milestones on December 15, fueled by an ongoing bull run and a surge of buyers entering the stock market. Positive sentiments prevailed, influenced by the US Federal Reserve's dovish stance and the strengthening rupee. The total market capitalization of BSE-listed companies, a gauge of investor wealth, saw a substantial increase of Rs 2.78 lakh crore on this day, bringing the overall valuation to Rs 357 lakh crore. This gain followed a nearly Rs 4 lakh crore increase in the previous session.The Sensex concluded the day 969 points, higher at 71483 while the Nifty closed with a gain of 273 points, reaching 21,456. Market breadth favored gainers, with 1,960 shares advancing, 1,800 declining, and 121 remaining unchanged. The Bank Nifty achieved a significant milestone, surpassing the 48,000 level for the first time, and Nifty IT, representing the IT sector, reached a 20-month high. The market's buoyancy persisted as investors anticipated a resolution of uncertainties over US economic growth by H2CY24, expecting a soft landing aided by the normalization of monetary policy. While acknowledging the recent surge, analysts anticipate a potential breather in the index, with a projected support level of 21,000-21,200 in case of any dip. Banking and IT majors continued to be prominent contributors to the upward movement, and their outperformance is anticipated to persist. The Nifty maintained its upward momentum, achieving a new all-time high and marking its seventh consecutive weekly gain. The prevailing sentiment remains bullish, with no discernible reversal signals on the technical charts. Resistance is noted at 21,500, and a potential further rally in the Nifty could unfold upon surpassing this level, while current support is positioned at 21,300.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 DEC 2023

The markets resumed their upward trend after a brief pause, experiencing a gain of over one percent, driven by positive global signals. The strong performance of US markets led to a gap-up opening in Nifty, and the momentum continued throughout the session, settling near the day's peak at 21182 levels. All major sectors contributed to the rally, with IT, banking, and realty emerging as top gainers. The broader indices also saw gains ranging from 0.9% to 1.3%. The influence of robust US indices is expected to persist, and we are now targeting 21500 in Nifty. We reiterate our preference for banking and IT majors and advise a selective approach in other sectors. While the midcap and smallcap segments are in line with the overall trend, traders are urged to exercise caution in stock selection due to overbought conditions.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 14 DEC 2023

The Indian stock markets began the day with a subdued start, as indicated by the GIFT Nifty. However, shortly after the opening bell, the Nifty50, the benchmark index, experienced significant profit booking, causing a decline towards 20770. Nevertheless, the bulls quickly responded from a crucial support zone, leading to a modest recovery in the latter part of the trading session. Despite the back-and-forth dynamics, the Nifty50 ultimately concluded the volatile session with a marginal gain of 0.10 percent, settling just above the 20900 level. As anticipated from the previous trading session, a subsequent bout of profit booking materialized in the market. Despite this, the bulls, displaying a robust undertone, seized the opportunity for a strong comeback. They not only offset the early losses but also concluded the session on a higher note. From a technical standpoint, there have been minor changes in the price chart. However, the presence of a 'long-legged Doji' formation suggests a likelihood of increased volatility in the near future. Regarding key levels, the previously mentioned 20800-20900, followed by 20600, is expected to act as a robust demand zone. As long as the market maintains above these levels, dips are likely to be in favor of the bulls. On the upside, the levels of 21000 pose a significant challenge, followed by 21100, representing the reciprocal Golden (161.8%) retracement of the recent decline. Looking ahead, our positive stance is maintained with a strategy of 'buy on dips' in the current market conditions. Despite the potential for the indices to undergo a range-bound movement, there remain ample opportunities in the broader market. This encourages a stock-centric approach while staying vigilant about global developments, ensuring traders are well-informed and prepared for market fluctuations.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 13 DEC 2023

The markets continued their sideways movement in the latest session, experiencing a nearly 0.5% decline. Although the Nifty initially traded flat, profit-taking in heavyweight stocks drove the index lower as the day unfolded, settling near the day's low at 20,906. levels. Most sectors followed this trend, with realty, energy, and auto emerging as the top losers. The broader indices also exhibited subdued trading, closing flat to marginally lower.Currently, there is a time-wise correction in the index, and we anticipate the Nifty to maintain the 20600-20,800 zone if profit-taking persists. The focus should be on identifying sectors or themes displaying positive trends and gradually accumulating stocks in those areas. Besides banking and IT majors, there is notable momentum in themes such as fertilizers, cement, and railways, among others. It is advisable to align trades accordingly.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 12 DEC 2023

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On December 11th, the benchmark stock indices displayed volatility but ultimately closed on a positive note, with the Nifty reaching around 21,000. The Sensex concluded the session with a gain of 102 points at 69928. while the Nifty was up 27 points  settling at 20,997. Analyzing the daily chart, it is evident that the Nifty is consolidating within the range of 20,850 to 21,000. Overall, the Nifty is maintaining a robust bullish trend with support levels identified at 20,850 and 20,800. For positional traders, it is recommended to hold Nifty positions with a stop loss at 20,850.In terms of sectors, there were gains of 0.5-1 percent in PSU Bank, FMCG, capital goods, power, metal, and realty, while the pharma index witnessed a decline of 0.4 percent. Notable gainers on the Nifty included UPL, UltraTech Cement, Bajaj Auto, Adani Enterprises, and LTI Mindtree. Conversely, the losers were Dr. Reddy's Laboratories, Cipla, Axis Bank, BPCL, and M&M. The index is supported by a zone around 20,850-20,800. Examining the Open Interest (OI) data, the highest OI on the call side is noted at 21,100, followed by 21,500 strike prices. On the put side, the highest OI is observed at the 20,900 strike price.Shifting focus to Bank Nifty, it finds support at 47,000-46,700, with resistance levels identified at 47,600 and 48,000.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 11 DEC 2023

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The market achieved its most significant weekly gain since July 2022, with both the Sensex and Nifty advancing by over 3%, while the Nifty Bank recorded a notable gain of over 5%. The Midcap index saw a rise of over 2% and marked its sixth consecutive week of gains.In a volatile trading session on December 8, Indian benchmark indices concluded higher, with the Nifty hovering around 20950. At the closing bell, the Sensex registered a gain of 303 points reaching 69825, while the Nifty showed an uptick of 68 points settling at 20969.The RBI adopted a well-rounded strategy by revising upward the economic growth projection while also expressing apprehension about potential food inflation with a heightened trajectory in the short run. The decrease in rabi sowing and declining reservoir levels suggests a potential increase in foodgrain prices. This had a noticeable effect on FMCG stocks, causing them to underperform today.Throughout most of the session, the markets traded within a narrow range and closed with modest gains. The Nifty initially reached a new milestone at the "21000" mark, but profit-taking in heavyweight stocks tempered the early gains. The resilience of IT majors and renewed buying interest in select private banking stocks once again tilted the market sentiment in favor of bulls, leading the index to settle in the positive territory at 20969 levels. Despite recent days of outperformance, the broader indices faced some downward pressure and concluded lower.The rotational buying among heavyweight stocks continues to drive the upward momentum, and this trend is expected to persist. In the event of any decline, Nifty is likely to find support in the 20600-20,800 zone, while profit-taking may come into play around the 21,200 level. Amidst these dynamics, traders are advised to concentrate on prudent stock selection, favoring long trades in banking and IT sectors while selectively exploring opportunities in other sectors.

Resistance: 21000, 21250, 21500

Support: 19750, 19500, 19250

NIFTY OUTLOOK FOR 7 DEC 2023

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Given the recent substantial increase in the last few trading sessions, it is probable that a period of consolidation will ensue. On the positive side, the range of 21,000 – 21,060 is expected to serve as an immediate barrier, while the zone of 20,800 – 20,730 is crucial as a support level. It is advisable to consider this range as a trailing stop loss for long positions on the index.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 6 DEC 2023

 Markets edged higher for yet another session and gained nearly a percent, in continuation of the prevailing up move. After the initial surge, Nifty remained in a range for most of the session and settled around the day’s high at 20855 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein energy, metal and banking were among the top performers. The broader indices too traded in sync and ended with modest gains. The rotational buying across heavyweights is pushing the Nifty to a newer high despite the overbought reading and it is now heading towards a new milestone of the “21,000”+ mark. We recommend focusing on the stocks that were on the sidelines for some time and are likely to join the move now. At the same time, traders should keep on trailing stop losses in the existing trades to capitalize on the prevailing trend.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 1 DEC 2023

The monthly expiry day witnessed significant volatility in the market, ultimately closing marginally in the green. Nifty, after a slow start, traded within a narrow range for most of the session, settling around the upper band. The sectoral performance was mixed, with the realty and pharma sectors displaying strength. Derivative positions rollover and active trading in midcap and smallcap stocks contributed to a positive market breadth.Despite a flat start, Nifty closed near the day's high, maintaining a strong sentiment. The market is approaching a record high after three consecutive days of gains and may experience a temporary pause. However, the overall positive tone is expected to persist due to rotational buying across sectors. It is advisable to consider adding quality stocks during any intermediate pauses or dips.The sentiment is likely to remain robust as long as the index stays above 20,000, with Put writers at the 20,000 strike expected to defend this level. A drop below 20,000 could potentially weaken the sentiment. On the upside, the 20,200-20,230 range serves as a resistance zone. If breached, the index might target levels around 20,450-20,500.

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NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 30 NOVEMBER 2023

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Stocks to watch Tomorrow

BANDHANBK COLPAL HINDCOPPER HINDPETRO MARUTI LT JUBLFOOD ZEEL NTPC ONGC 

The markets showed a robust upward movement following yesterday's breakout, experiencing a gain of over one percent. Nifty displayed strength throughout the day, starting with a gap-up and settling near the day's peak at 20096 levels. While most sectors participated in the rally, the standout performers were banking and financials, making significant contributions to the overall gains. Additionally, broader indices also recorded nearly a one percent increase. The banking index's resilience played a key role in restoring momentum to Nifty, and we anticipate this positive trend to persist. It is likely that Nifty will pause around the previous record high of 20222. levels before gradually advancing towards the 20500 level. Therefore, we recommend focusing on high-quality large-cap stocks across various sectors and making selective choices from the broader indices.The benchmark indices closed strongly on November 29, with Nifty surpassing 20,000 for the first time since September 20, 2023. At the closing bell, the Sensex posted a gain of 727 points reaching 66901, while the Nifty recorded a rise of 206 points closing at 20096. Of the total stocks traded, 1828 advanced, 1706 declined, and 123 remained unchanged.Moving forward, investors will closely watch the results of the upcoming exit poll, the OPEC+ meeting, and India's GDP data to gauge the short-term direction. Nifty is expected to encounter resistance around 20220, and if surpassed, the next resistance is likely at 20340. For Bank Nifty, resistance is anticipated around 44750, followed by 45000.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 24 NOV 2023

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Indian benchmark indices ended the volatile session on November 23 at a standstill. At the close, the Sensex was down 5 points at 66017 and the Nifty was down 9 points at 19802. About 1748 stocks rose, 1407 stocks declined and 120 stocks remained unchanged. Markets were extremely lackluster due to low volumes. It looks like a lot of capital has flowed into the IPO market in the last few days and investors, including retail investors, don't want to miss the bus. Once the current IPO rush is over, we may see a return of investors to secondary markets, barring major disruptions in global markets. Nifty remained within the range but faced resistance around 19900. An ascending triangle is forming on the hourly chart, indicating a likely breakout to the upside. Sentiment is expected to remain sideways as long as it stays above 19700. However, a fall below 19850 could put downward pressure on the Nifty. Resistance at the top is established at 19900. A significant move above this level could trigger a rally towards 20000 in the short term. The Bank Nifty index maintained its sideways momentum and crucially held the support level at 43200, which is considered as a crucial point for the index. The immediate hurdle for further rise is 43800 and a break above this level is expected to lead to further gains towards 44200 where significant call writings are evident. Conversely, a break of the support level may lead to further corrective moves towards the 42800-42600 levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 23 NOV 2023

 Benchmark indices closed higher with the Nifty above 19,800. At the close, the Sensex rose 92 points to 66,023 and the Nifty rose 28 points or 0.14% to 19,811. Approximately 1,581 stocks advanced, 1,981 stocks declined and 133 stocks remained unchanged. The top gainers on the Nifty were BPCL, Cipla, NTPC, Infosys and Power Grid Corporation, while losers included IndusInd Bank, Hindalco Industries, Kotak Mahindra Bank, Adani Enterprises and Adani Ports. On the sector front, a mixed trend was witnessed: Banks , metal and real estate each declined 0.5%, while IT, capital goods, oil and gas, energy, healthcare and FMCG rose 0.3 to 1%. The BSE Midcap index rose 0.3% while the Smallcap index rose 0.3%.With a swing on both sides, Nifty50 ended the volatile day at 19,811.85, up 28.45 points. Among the sectors, IT and Pharma recorded decent gains of over 0.60% while a corrective move expanded in the PSU banking space. The metals sector was also added to the list of underperformers. In the automotive segment, 2W Wheeler shares performed well. A mixed trend was witnessed in the broader markets with the midcap sector outperforming the frontline index while smallcaps underperformed. It seems that the Nifty is trying to break its immediate hurdle of 19,850 while a level of 19,700 will continue to act as support. A strong, convincing close above opens doors for 20,050.

NIFTY OUTLOOK & OPTION TRADING TIPS FOR 22 NOVEMBER 2023

The Nifty opened with a lead on 21 November 2023, consolidated for most of the day and closed up ~89 points. On the daily charts, we can observe that the Nifty is trading in the range of 19875 – 19625 since the last four trading sessions. On the other hand, the Nifty is trading above the 19650 – 19600 zone where several support parameters in the form of the 40-hourly moving average and the lower end of the rising channel are placed. Therefore, this zone should act as support in case of a decline and we expect the Nifty to remain in this zone and trend higher in the next few trading sessions. The hourly momentum indicator is showing a positive crossover, but the Nifty is not breaking the range and once it does, we can expect it to gain momentum. Until then, the range-bound price movement is likely to continue. In terms of levels, 19625– 19650 is the crucial support zone while 19900 – 19950 is the immediate resistance zone. Bank Nifty also consolidated and closed up 110 points. There was a decline during the day but there was buying, indicating buying interest at lower levels. From a short-term perspective, we expect the decline to continue until 44,000 – 44,050. The structure becomes weak below 43500.

NIFTY OUTLOOK FOR 17 NOV 2023

Markets rose slightly, gaining almost half a percent, extending Wednesday's rise. After the weak start, Nifty maintained positive sentiment for most of the day, however profit-taking in the last hour pared gains. Eventually it settled at 19,765; increased by 0.46%. The majority of sectors agreed to this move, with IT and real estate among the top performers. The broader indices maintained their outperformance and the midcap index also hit a new high. Nifty tested the 19,850 target zone in no time after the breakout and we now expect a breather. All sectors are taking turns participating in the transition, but the banking sector is still not performing as expected. Above all, we recommend focusing on areas that are seeing sustained interest and taking advantage of interim dips to accumulate them. Needless to say, the prevailing upswing in midcap and smallcap groups is expanding the supply, so traders should plan their positions accordingly.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 8 NOVEMBER 2023

After ending the last three trading sessions on a positive note, Indian stock indices closed slightly in the red on November 7 in a volatile session. At the close of trading, the Sensex was down 16 points at 64942 and the Nifty was down 5 points at 19406. Among other sectors, Pharma was the top performer, ending the day up 1.32% while profit booking pressures Real estate segment moved downwards. The market experienced some resistance at higher levels as caution prevails due to the start of key state elections and further negative global signals due to a sharper-than-expected decline in Chinese exports, pointing to a continued slowdown in global trade. Despite the extension of supply cuts by Saudi Arabia and Russia, crude oil prices moderated, which is positive for India given the geopolitical tensions. This, along with weakening US bond yields and the ongoing positive earnings season, will support long-term returns. On the daily chart, the index has formed an inside bar candlestick pattern, which generally represents a period of consolidation or indecision in the markets. A convincing close above 19450 opens the doors to 19500 while a downtrend is protected at 19400. BankNifty has recorded a convincing close above the critical hurdle of 43600 and its 21DMA, indicating a continuation of the current uptrend and is likely to move higher towards 44200 while a level of 43200 will act as strong support.