NIFTY OUTLOOK & FREE NIFTY TIPS FOR 03-08-16

Tug of war between bulls & bears. The market has been on a wobbly road, largely upward, as it awaited the GST since the beginning of the monsoon session. Today the Sensex ended with a loss of 21 points at 27982. The Sensex opened at 28069 touched an intra-day high of 28175 and low of 27944. The Nifty closed with a loss of 14 points at 8622. The Nifty opened at 8647 hitting a high of 8687 and low of 8611.  As market has been largely on a gaining spree for the last few weeks, chances are investors may have already priced in the GST Bill. We believe long-term bullishness in the market will remain intact and on GST transformation, market can move to a level beyond 8800.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 2 AUG 2016

"BUY NIFTY ABOVE 8650 TGT 8685/8730 SL 8620"

Nifty consolidated after making a fresh one year high on the back of negative cues coming in from international markets. However, the 40 point premium on Nifty futures could indicate the first signs of exuberance creeping into the markets. The Sensex on Monday wiped off all its gains to settle the day 48 points lower, while the broader Nifty ended below its key 8650-mark. The headline indices edged lower amid uncertainties over the passage of the Goods and Services Tax (GST) Bill, which entered the last mile as the government circulated the new draft on GST to Rajya Sabha members.

NIFTY WEEKLY REPORT FOR 01 AUG TO 05 AUG 2016

WEEKLY RESISTANCE FOR NIFTY: 8664, 8708, 8732, 8756

PIVOT POINT: 8619

WEEKLY SUPPORT FOR NIFTY :  8595,8571,8527,8482

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8698, 8707, 8715,8724

PIVOT POINT: 8688

DAILY SUPPORT FOR NIFTY :  8672, 8663, 8653, 8636

DAILY CHART FOR NIFTY

Sensex opened the week at 27737, made a high of 28268, low of 27669 and closed the week at 28051. Thus it closed the week with gain of 248 points. At the same time the Nifty opened the week at 8590, made a high of 8744, low of 8565  and closed the week at 8686. After gaining for two consecutive trading sessions, the Indian equity market closed lower on Friday. The key indices dropped in the morning trade on Friday on profit-booking by participants as the August derivatives series began on a negative note.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 1 AUG 2016

See-saw movement was there in the market today. After gaining for two consecutive trading sessions, the market closed lower on Friday. The sensex & nifty dropped in the morning trade on Friday on profit-booking by participants as the August derivatives series began on a negative note.  The Sensex ended with a gain of 184 points at 28209. The Sensex opened at 28109 touched an intra-day high of 28240 and low of 28065. The Nifty closed with a gain of 51 points at 8666. The Nifty opened at 8637 hitting a high of 8674 and low of 8625.

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.