NIFTY OUTLOOK & FREE NIFTY TIPS FOR 5 OCT 2016

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The markets reacted positively at the closing hours here today after the Reserve bank of India announced its decision of slashing repo rate by 25 basis points. The central bank has reduced the key lending rate to 6.25 % from the earlier 6.50 %. The Sensex ended 91 points higher at over 28334 at the closing hours today. The Nifty 50 also witnessed a rise with the index going up by 31 points to end at over 8769. The Bank Nifty also recorded a surge as with the index going up by around 84 points or 0.43 per cent to reach the peak of 19672. The rate cut has added to the sentiment that the banks will pass the benefits on to their customer and home loan seekers as lesser rate will make loan cheaper. Equity benchmarks remained positive amid consolidation ahead of Urjit Patel's first monetary policy after he got appointed as RBI governor in last month. Finally, the Sensex ended with a gain of 91 points at 28335. It opened at 28378, touched an intra-day high of 28405 and low of 28242. The Nifty closed with a gain of 31 points at 8769. It opened at 8770, hit a intra day high of 8784 and low of 8736.

NIFTY PREDICTION FOR TUESDAY 4 OCT 2016

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The market ended with smart gains ahead of the RBI policy review tomorrow. Indices extended their winning streak for the second consecutive trading session today amid positive global cues and firm rupee. The newly-constituted monetary policy committee started its first meeting on Monday to fix the benchmark interest rate; the Reserve Bank of India may opt for status quo and wait for further easing of inflation. The 6-member panel headed by RBI governor Urjit Patel began its two-day deliberations to consider various factors like inflation, credit offtake and the need to propel growth, foreign trade and global economic factors. Moving away from the usual practice of announcement at 11am, the fourth bi-monthly monetary policy review would be made public at 2:30pm on Tuesday after the MPC meeting. The Sensex ended with a gain of 377 points at 28243. It opened at 27997, touched an intra-day high of 28273 and low of 27920. The Nifty closed with a gain of 127 points at 8738. It opened at 8666, hit an intra-day high of 8745 and low of 8635.

NIFTY WEEKLY REPORT FOR 03 OCT TO 07 OCT 2016

WEEKLY RESISTANCE FOR NIFTY: 8751, 8800, 8881, 8962

PIVOT POINT: 8702

WEEKLY SUPPORT FOR NIFTY :  8621,8540,8491,8442

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8659, 8681, 8713,8751

PIVOT POINT: 8637

DAILY SUPPORT FOR NIFTY :  8621, 8605, 8583, 8561

DAILY CHART FOR NIFTY

Sensex opened the week at 28741, made a high of 28776, low of 27754 and closed the week at 27865. Thus it closed the week with gain of 248 points. At the same time the Nifty opened the week at 8846, made a high of 8864, low of 8604  and closed the week at 8638. The key benchmark swung between gains and losses but finally closed higher on friday. After opening on a flat note indices remained under pressure and slipped lower in the first half. 

TECHNICALLY SPEAKING.

MACD and Price ROC are both positive and continue in Buy mode. RSI (55) suggests bearish momentum. This week, both the indices remained comfortably above the short term average of 20dma Nifty – 8740, medium term average of 50dma Nifty – 8654 and even the long term average of 200dma Nifty – 8250. Thus the trend in the short term, medium term and even the long term timeframe continues to remain Bullish.

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The Sensex and Nifty ended marginally higher due to short-covering by participants ahead of September month F&O expiry tomorrow. Short-covering of positions speculators buying stocks that have been sold short to steer clear of losses in view of tomorrow’s September monthly derivatives contract expiry buoyed the sentiment. The Sensex ended with a gain of 69 points at 28293. The Sensex opened at 28199 touched an intra-day high of 28379 and low of 28193. The Nifty closed with a gain of 39 points at 8745. The Nifty opened at 8711 hitting a high of 8767 and low of 8703.

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Week has started on bearish note. Market breadth remained in negative territory throughout the trading session and there was not any attempt visible from the bulls to regain strength. Nifty ended the day at 8723, down by 108 points against the Friday’s close. However it is still trading above the key support of 8700-8710 and we expect once should wait for break below the support zone, before come into conclusion that a mid-term downtrend has already started. The chances of a bounce back can’t be ruled out as the overall market trend is sideways and it is trading at the lower end of the channel. The Sensex ended with a loss of 374 points at 28294. The Sensex opened at 28631 touched an intra-day high of 28630 and low of 28272. The Nifty closed with a loss of 109 points at 8723. The Nifty opened at 8808 hitting a high of 8810 and low of 8715.

NIFTY WEEKLY REPORT FOR 26 SEP TO 30 SEP 2016

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WEEKLY RESISTANCE FOR NIFTY: 8900, 8940, 8968, 8996

PIVOT POINT: 8862

WEEKLY SUPPORT FOR NIFTY :  8834,8806,8767,8661

WEEKLY CHAT FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 8870, 8889, 8909,8937

PIVOT POINT: 8850

DAILY SUPPORT FOR NIFTY :  8812, 8792, 8763, 8734

DAILY CHART FOR NIFTY

Sensex opened the week at 28626, made a high of 28871, low of 28462 and closed the week at 28668. Thus it closed the week with a gain of 69 points. At the same time the Nifty opened the week at 8788, made a high of 8893, low of 8757 and closed the week at 8831. Thus the Nifty closed the week with a gain of 52 points. "Nifty edged marginally lower on Friday and lost nearly half a percent, tracking decline in select index majors. The move was on expected line in Nifty and we believe it’ll continue ahead also. However, the range would be broader due to upcoming F&O expiry. 

FED announcement to keep interest rates unchanged

The first Principle of the Classical Theory ‘Price Discounts Everything’ was at play in the week gone by. The FED announcement to keep interest rates unchanged was already discounted in the price. The formation of Bearish Doji confirmed the above Principle. No doubt the narrow trading range was broken after a big gap up opening but the bullish momentum could not sustain as it resulted in profit booking. Only a close above Nifty 8893 will pave the way for further upward movement.

NIFTY PREDICTION & FREE NIFTY TIPS FOR 26 SEP 2016

Snapping two-session long gaining spree, the Sensex on Friday settled the day 105 points lower, while the broader Nifty ended below its key 8850 level.

The headline indices took a pause after the US Federal Reserve's decision to stand pat on interest rates sparked a rally in the Thursday's session. The Fed decision is sparking hopes of additional foreign investments into emerging markets such as India, with MSCI's broadest index of Asia-Pacific shares outside Japan trading at near 14-month highs. The Sensex ended 105 points lower at 28668 and Nifty slipped 36 points to settle at 8831. For most part of the day, the Sensex and Nifty traded in a choppy manner. Finally, the BSE Sensex ended with a loss of 105 points at 28,668. The Sensex opened at 28810 touched an intra-day high of 28825 and low of 28627. The Nifty closed with a loss of 36 points at 8832. The Nifty opened at 8881 hitting a high of 8885 and low of 8820.

After the move upwards, it's always good to see markets pause for a while and consolidate, recover and then make a move up. In the next trading session contract can extend its rally and test resistances at 8900 and 8950 levels in the near term. On the downside, a decisive fall below key support at 8800 is needed to alter the bullish momentum and drag the contract down to 8750 and then to 8700 levels.

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Supports: 8750 and 8700

Resistances: 8900 and 8950

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The stock market breadth was tilted in favors of the bulls. Both the key indices gained more than half a per cent each as healthy buying was witnessed in banking, automobile, and oil and gas stocks. The Nifty closed above the crucial psychological barrier of 8850-mark on the back of buying in banking, auto and utilities shares. The Sensex ended with a gain of 266 points at 28773. The Sensex opened at 28767, touched an intra-day high of 28872 and low of 28693. The NSE Nifty closed with a gain of 90 points at 8867. The NSE Nifty opened at 8873 hitting a high of 8893 and low of 8837.