NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 JULY 2016

"BUY NIFTY ABOVE 8590 TGT 8630/8670 SL 8560"

Bulls are back with a bang!!!! See-saw movement was there in the market today. High volatility was seen ahead of F&O expiry on Thursday and the FOMC decision on interest rates later today. Market ended with gains on Wednesday amid a highly volatile trading session. Nifty slipped sharply lower in the first half below the 8600 mark. However as the day progressed it stabilized and staged a smart recovery in the last half an hour & closed above 8600 level. The Nifty has started the session in positive territory at 8599. Experiencing buying interest, the nifty surged to an intra-day high of 8665. However, the contract failed to sustain its bullish momentum and erased its intra-day gains thereafter. Breaking the key support at 8600, the contract declined to an intra-day low at 8572 levels. At the closing nifty has staged a smart recovery & closed at 8616.

For tomorrow nifty now tests key resistance at 8680. A strong rally beyond this level and the next key resistance at 8700 will strengthen the bullish momentum. In that case, the contract can rally to the 8730 and 8750 band. But the inability to move beyond 8625 will keep the index under selling pressure. A decisive fall below 8600 can pull the contract down to 8580 and then to 8550 levels. The next key supports are at 8530 and 8500 levels.

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Supports: 8600 and 8550

Resistances: 8650 and 8680

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 26 JULY 2016

BUY RELCAPITAL FUTURE ABOE 430 TG 437/444 SL 421

Putting a tepid week behind, bulls pushed market to a new peak supported by consistent inflows, and hopes of GST passage. The Sensex and Nifty advanced almost 1% amid sustained inflows from foreign funds on optimism over GST bill’s passage. Sensex closed 292 points up at 28095, while Nifty settled 94 points up at 8635. The Sensex ended with a gain of 292 points at 28095. The indices opened at 27754 touched an intra-day high of 28110 and low of 27736. The Nifty closed 94 points higher at 8636 points. It opened at 8520 points, hitting a high of 8641 and low of 8517. The Nifty closes above 8600 for first time since July 22, 2015.

NIFTY WEEKLY REPORT FOR 25 JULY TO 29 JULY 2016

WEEKLY RESISTANCE FOR NIFTY: 8564, 8591, 8627, 8666

PIVOT POINT: 8538

WEEKLY SUPPORT FOR NIFTY :  8499,8466,8439,8413

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8557, 8575, 8587,8599

PIVOT POINT: 8538

DAILY SUPPORT FOR NIFTY :  8526, 8514, 8496, 8477

DAILY CHART FOR NIFTY

Sensex opened the week at 27938, made a high of 28027, low of 27641 and closed the week at 27710. Thus it closed the week with loss of 142 points. At the same time the Nifty opened the week at 8432, made a high of 8604, low of 8422  and closed the week at 8557. Thus it closed the week with gain of 227 points. Markets recouped on friday losses to end marginally higher on reports that the GST constitutional amendment bill has been listed for discussion in the Rajya Sabha next week.

BIAS REMAINS POSITIVE.

Last week was a ‘nothing’ week as the indices continued to trade in a very narrow range. Nifty continues to move in a small range (8594-8476) of just 118 points. This can be termed as a Consolidation with a bullish bias. A narrow range seems like a precursor of a bigger move which is likely to follow. A break on the lower side of the range will lead the Nifty to test the weekly Bullish Gap between 8407-8398; whereas a bullish breakout to the trading range will lead the Nifty towards the Flag target of 8869.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 22 JULY 2016

“SELL VEDL FUTURE BELOW 157.70 TGT 156.40/155.20 SL 159.90”

“BUY BANKNIFTY FUTURE ABOVE 18750 TGT 18800/18850/18900 SL 18700”

Bulls can’t sustain in the market as the bears took the driver seat & made nifty to witness the level of 8504. The market opened marginally higher but slipped into the negative zone despite positive global cues. The Sensex on Thursday tanked 205 points, while the broader Nifty slipped below 7550-mark. The sensex & nifty edged lower after hitting its strongest close in nearly a year in the previous session as caution prevailed ahead of corporate results and investors awaited progress on the GST bill. Sentiment also remained buoyant as a good monsoon season so far lifted hopes of a revival in farm output as well as income and on optimism over the GST bill’s passage. The market came down, as investors failed to get a boost, with government expressing hope that the Rajya Sabha will clear the GST Bill in the first week of August on the back of support from regional parties. The Sensex ended with a loss of 205 points at 27711. The Sensex opened at 27981 touched an intra-day high of 27989 and low of 27687. The NSE Nifty closed with a loss of 58 points at 8508. The Nifty opened at 8583 hitting a high of 8585 and low of 8504.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 21 JULY 2016

"BUY NIFTY ABOVE 8562 TGT 8595/8630 SL 8520"

Market has ended in positive terrain on Wednesday, robust progress in monsoon influenced trading sentiment. The Sensex ended with a gain of 128 points at 27916. The Sensex opened at 27776 touched an intra-day high of 27935 and low of 27760. The Nifty closed with a gain of 37 points at 8566. The Nifty opened at 8515 hitting a high of 8570 and low of 8512.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 20 JULY 2016

YESTERDAY’S IDEA FUTURE ACHIEVED 1^ST TGT

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The market is flat with the Nifty hovering around 8500The 50-share index is up 4 points at 8512. Trading volumes were thin, with investors also waiting for other corporate earnings and the progress of the Monsoon Session of Parliament amid hopes the government would be able to push through a revamp of the goods and services tax.

A range bound movement was witnessed as key benchmark indices languished in negative zone in mid-afternoon trade.  Finally, the Sensex ended with a gain of 41 points at 27788. The Sensex opened at 27790 touched an intra-day high of 27826 and low of 27638. The Nifty closed with a gain of 20 points at 8529. The Nifty opened at 8514 hitting a high of 8540 and low of 8477.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 19 JULY 2016

"BUY IDEA FUTURE ABOVE 105.4 TG 106.7/108.2 SL 103.2"

"BUY SBIN 225 PUT @ 3.6 TG 4.9 / 5.75"

The Week has started on positive note, but at the time of closing it came down. Wiping out most of its early gain the market closed lower on Monday. The Sensex ended with a loss of 90 points at 27747. The Sensex opened at 27920 touched an intra-day high of 28014 and low of 27697. The Nifty closed with a loss of 33 points at 8509. The Nifty opened at 8564 hitting a high of 8587 and low of 8494.

NIFTY WEEKLY REPORT FOR 18 JULY TO 22 JULY 2016

WEEKLY RESISTANCE FOR NIFTY: 8580, 8632, 8661, 8689

PIVOT POINT: 8527

WEEKLY SUPPORT FOR NIFTY :  8499,8470,8418,8364

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8580, 8599, 8620,8641

PIVOT POINT: 8562

DAILY SUPPORT FOR NIFTY :  8541, 8520, 8500, 8483

DAILY CHART FOR NIFTY

Sensex opened the week at 27208, made a high of 28039, low of 27047 and closed the week at 27852. Thus it closed the week with gain of 726 points. At the same time the Nifty opened the week at 8432, made a high of 8604, low of 8422  and closed the week at 8557. Thus it closed the week with gain of 227 points. The Indian stock market closed lower on Friday with the Nifty closing above the 8550 mark. The benchmarks under-performed the Asian peers, as index heavyweight Infosys posted disappointing results and slashed revenue forecasts. 

CONSOLIDATION AUGURS WELL FOR BULLS.

In a Bull market, it is normal to have a consolidation after a sharp upward move (more than 227 points on Nifty in 6 trading sessions). The current consolidation augurs well for the Bulls, as it will provide adequate strength to the Bulls to challenge the immediate short term top (Nifty 8600) and then continue with its upward journey. One positive aspect for the week was the Sensex closing above the strong Retracement level of 61.8% i.e. 27852 for three trading sessions. As long as it trades above this level, one can expect the indices to challenge their life time highs.