NIFTY OUTLOOK & FREE NIFTY TIPS FOR 21 APRIL 2016

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The Sensex and the Nifty ended near flat on Wednesday after hitting their highest level in more than three months earlier in the session. Markets ended flat amid choppy trades shrugging off weak global cues with the Nifty rising 5% in the past six consecutive trading sessions. The Sensex ended with a gain of 27 points at 25844. The Sensex opened at 25942 touched an intra-day high of 25956 and low of 25716. The Nifty closed at 7915. The NSE Nifty opened at 7950 hitting a high of 7950.40 and low of 7877.

Short-term traders with high risk appetite can go long. Stop-loss can be kept at 7850 for the target of 7950. Intraday dips to 7910 and 7880 can be used to accumulate longs.

At the moment, there are no positive triggers that could drive markets upwards, so we could see a range-bound trend between 7850 to 7950 on Nifty. Supports for the contract are at 7850 and 7820.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 20 APRIL 2016

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Yesterday the NSE Nifty closed with a gain of 64 points at 7915. The Nifty opened at 7908 hitting a high of 7921 and low of 7843.

NIFTY OUTLOOK & FREE NIFTY & STOCK TIPS FOR 20 APRIL 2016

Market gained weight due to the fine start of the result season and the contraction in WPI inflation to -0.85% has smoothed the way forward. Today indices finished higher for a fourth consecutive session as investors cheered software services firm Infosys' upbeat revenue forecast and its third successive estimate-beating earnings on new client wins. Robust Q4 earnings from IT major Infosys and positive macro data amid above normal monsoon projection lifted sentiment as benchmark indices BSE Sensex and NSE Nifty reclaimed their psychological levels of 25800 and 7900, respectively, today. The global market witnessed a correction as oil producers could not reach a consensus on output freeze. The Sensex ended with a gain of 189 points at 25816. The Sensex opened at 25833 touched an intra-day high of 25870 and low of 25634. The NSE Nifty closed with a gain of 64 points at 7915. The Nifty opened at 7908 hitting a high of 7921 and low of 7843.

KNOCKING ON THE DOORS OF 200DMA - 18 APRIL 2016

SMALL WEEK; BIG GAINS.

Despite being a small week of just three trading sessions, the market registered big gains and in the process managed a close above the critical resistance level of the previous intermittent top of 7777. Interestingly, the bullish momentum has taken the market higher and it is now at the brink of the long term Resistance, which consists of the Trend line which has been acting as strong Resistance for more than a year and the critical long term average of 200dma. Next week will be interesting as the market not only grapples with this critical Resistance but also digests the results of Infosys which will be declared on Friday.

TECHNICALLY SPEAKING.

Sensex opened the week at 24789, made a high of 25671, low of 24523 and closed the week at 25626. Thus it closed the week with a gain of 953 points. At the same time the Nifty opened the week at 7577, made a high of 7864, low of 7516 and closed the week at 7850. Thus the Nifty closed the week with a gain of 295 points.

On the daily charts, both the indices opened with a big gap up and continued its run to register a big Opening White body Marubuzo. On the weekly charts, both Sensex and Nifty have formed a big Closing White Body Marubuzo. Thus daily as well as weekly candlestick pattern study indicates a bullish bias in the near term.

After a gap up opening on Wednesday, market proceeded from strength to strength and in the process overcame the previous intermittent top of Sensex 25479 and Nifty 7777. As a result, we now look at the Retracement of the entire fall from Sensex 30024 to 22494 and Nifty from 9119 to 6825. The relevant Retracement levels are placed at Sensex 25371-26259-27148 and Nifty 7702-7972-8243.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 18 APRIL 2016

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On Wednesday 13 April 2016, Bulls made happy before a long weekend. Cheerful bullish trading session was witnessed today. The Sensex jumped over 500 points, while the Nifty50 index edged above the key 7850 levels on Wednesday. The Sensex posted its biggest rally since March 1, while the Nifty hit over three-month high.

 A smart bounce in the market that lifted the Sensex by some 350 points on Monday caught the street surprise. The Sensex ended with a gain of 481 points at 25627. The Sensex opened at 25358 touched an intra-day high of 25671 and low of 25358. The Nifty closed with a gain of 142 points at 7850. The Nifty opened at 7777 hitting a high of 7865 and low of 7772. The rally happened in the last two hours of trade when most people were expecting the market to close flat after lackluster movement through the day. 

Nifty April futures staged a smart recovery to settle near 7700 levels. Open interest addition was seen with an uptick indicating fresh longs. Nifty continues to remain stuck within the range of 7750-7550. Nifty needs to convincingly break past multiple resistances placed between 7745-7780 for further upside.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 13 APRIL 2016

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See-saw movement was there in the market today. Both the indices the sensex & nifty was trading on mixed note. The Sensex rose over 100 points and Nifty closed above its crucial psychological level of 7700 in trades today. The Sensex advanced 123 points to close at 25146 and Nifty jumped 38 points to close at 7709. Nifty & sensex got boosted after the country's only private weather forecaster said 2016 monsoon rains were likely to be above average. Monsoon rains are expected to be 105 % above a long-term average, with a 35 % probability of above average rainfall, Skymet had said in a statement on Monday. State-run India Meteorological Department is expected to issue its forecast later in the day. Above average monsoon rains play a key role in boosting the demand for an array of consumer goods, as 70 %  of India's 1.3 billion people live in villages. However, broader gains were capped as companies geared up to report earnings. Among major companies, software services provider Infosys is due to report its results on Friday. Market is taking monsoon forecast news positively but the important trigger will be the earnings report and global cues.

NIFTY WEEKLY REPORT FOR UPCOMING WEEK 11/04/2016

WEEKLY RESISTANCE FOR NIFTY: 7687, 7731, 7897, 8151

PIVOT POINT: 7643

WEEKLY SUPPORT FOR NIFTY :  7560,7477,7389,7262

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 7589, 7601, 7619, 7662

PIVOT POINT: 7576

DAILY SUPPORT FOR NIFTY :  7567, 7546, 7533, 7490

DAILY CHART FOR NIFTY

Sensex opened the week at 26974, made a high of 27555, low of 22494 and closed the week at 24900. Thus it closed the week with a loss of 369 points. At the same time the Nifty opened the week at 7540, made a high of 7809, low of 7540 and closed the week at 7578. Thus the Nifty closed the week with a gain of 183 points.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 11 APRIL 2016

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After falling for three consecutive trading sessions, the market shut shop with modest gains on Friday amid a choppy day. The Sensex ended with a loss of 12 points at 24674. The Sensex opened at 24666 touched an intra-day high of 24736 and low of 24609. The Nifty closed with a gain of nine points at 7555. The Nifty opened at 7542 hitting a high of 7569 and low of 7527. The Nifty is range-bound between 7525 and 7575. A breakout on either side of this range will decide the next leg of move for the contract. The contract could face strong intraday resistance between 7600 and 7650, which could restrict its upside in the near term. Traders with a short-term perspective can make use of an intraday rise to go short at 7510. Stop-loss can be placed at 7570 for the target of 7450.