NIFTY WEEKLY PREDICTION & CHARTS FOR 18 DEC TO 22 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10435, 10470, 10500

PIVOT POINT: 10350

WEEKLY SUPPORT FOR NIFTY:  10300, 10250, 10200

WEEKLY CHART FOR NIFTY

WEEKLY RESISTANCE FOR NIFTY: 10435, 10470, 10500

PIVOT POINT: 10350

WEEKLY SUPPORT FOR NIFTY:  10300, 10250, 10200

WEEKLY CHART FOR NIFTY

The volatile week has ended on bullish note after exit polls predicted a clean sweep for PM Narendra Modi-led Bharatiya Janata Party (BJP) in the recently held elections in Gujarat and Himachal Pradesh. On Friday the Sensex rose 216 points to 33462. A lot of consolidation has happened in this past week. This week nifty future opened at 10259 made a high of 10400 and low 10163 and finally closed at 10356, Total 237 points movement was there in nifty future this week.
MARKETS TO FOCUS ON UPCOMING EVENTS

Now all eyes are on upcoming event risks -- two state election results due on 18 December (stakes are higher in Gujarat), the winter parliament session, November trade numbers, and fiscal developments, which will dictate near-term action. Monday will see the levels of 10450 and 10500 playing out as important resistance for the index future. Supports come in at 10300 and 10250 zones. 

TECHNICAL SPEAKING

 Nifty closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 10300 to 10330. Resistance for the index lies in the zone of 10350 to 10370. If the index manages to close above these levels then the index can move to the levels of 10400 to 10450. During the week the index manages to hit a high of 10400 and close the week around the levels of 10370.

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Tug of war between bulls & bears, finally bulls won. On Thursday market closed volatile session on bullish note as the Sensex rallied 193 points to 33246 while nifty closed 70 points up at 10285 ahead of Gujarat exit polls later in the evening that usually indicate the likely winner ahead of official results. Prime Minister Narendra Modi's government is hoping a big win in the state would bolster the ruling Bharatiya Janata Party's electoral prospects ahead of general elections in 2019. European stocks were slightly lower as investors reacted to the US Federal Reserve's decision to raise interest rates. Nifty future has opened at 10259 made a high of 10296 and low 10163.

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Tuesday belonged to the bears…!!! Bears took the  charge in the final hour of trade today. The Sensex ended over 200 points down, while the Nifty was below 10275-mark. Investors are having an eye on what the US Federal Reserve will do as well as how the second round of polling will progresses in Gujarat.  The Sensex closed down 227 points at 33228, while the Nifty was down 81 points at 10264. Investor remained cautious that higher global crude oil prices would stoke inflation and impact future interest rate decisions by the Reserve Bank of India. The Nifty settled has opened at 10332 made a high of 10337 & low of 10254, total 83 points nifty future has moved in intraday.  The banknifty future fell over 1 % after gaining 2.2 % in the last three sessions. Banknifty future has opened at day’s high 25399 & made a low of 10254 & finally closed at 25165 total 239 points banknifty future moved in intraday. ICICI Bank, Axis Bank, and HDFC Bank fell over 1% while oil marketers Hindustan Petroleum Corporation Ltd, Indian Oil and Bharat Petroleum Corporation lost as much as 2-4%.

NIFTY PREDICTION & FREE NIFTY TIPS FOR 12 DEC 2017

On expected lines, the Nifty on Monday opened with a gap on the higher side at 10317 and rose to an intraday high of 10354. It slipped marginally to 10302 in morning trade but bulls pulled the index to close above 10350 level. The index rose 52 points during the day to close at 10352. The key support level is placed at 10275, followed by 10235. If the index starts to move higher, key resistance levels to watch out are 10375 and 10422. The Nifty Bank closed at 25420. Important level, which will act as crucial support for the index, is placed at 25300, followed by 25200. On the upside, key resistance levels are 25500, followed by 25600. Investors await Federal Reserve policy decision and exit poll on Gujarat assembly elections.

NIFTY WEEKLY PREDICTION & CHARTS FOR 11 DEC TO 15 DEC 2017

WEEKLY RESISTANCE FOR NIFTY: 10330,10370,10410,10450

PIVOT POINT: 10225

WEEKLY SUPPORT FOR NIFTY:  10200, 10180, 10150, 10100

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10315, 10335, 10375

PIVOT POINT: 10250

DAILY SUPPORT FOR NIFTY:  10220, 10175,10150

DAILY CHART FOR NIFTY

The Nifty future has started the week on positive note. On Monday rangebound trading session was there due to the RBI’s two-day monetary policy review kicks off on Tuesday and the decision was given on Wednesday. The market posted a biggest drop after the announcement of RBI kept repo rate unchanged to 6% on wednesday rbi policy review. RBI Governor Urjit Patel said the credit flow is already better than last October also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicated tough fight for the BJP in Gujarat also dampened market sentiment on Wednesday. The Nifty future has settled below its crucial psychological level of 10100 on Wednesday. Bulls came back in action on Thursday. They managed to make nifty cross the hurdle of 10175-10200. Finally after a tough fight with bears, bulls won the Friday. The Sensex surged 301 points to close at 33250. The Nifty future too went past the 10250-level & closed near 10300 level at 10290. 

MARKETS TO FOCUS ON GUJARAT ELECTIONS

Hopes that the Bharatiya Janata Party  would win critical elections in Gujarat beginning this weekend has contributed to the positive sentiment. An election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month. According to polls, BJP is expected to win, but the seat count would be lower than what they were vocal about. If they do win, I think markets will take it positively. We may see the same uptrend continued next week also due to Gujarat election polls which is due on 9th & 14 Dec 2017 while results will be out on 18 Dec. Though we expect a quiet start, the follow-through rally to continue with the levels of 200-DMA acting as important support. The levels of 10350 and 10450 will act as immediate resistance levels for the market. Supports come in at 10200 and 10050 zones.

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 11 DEC 2017

Market benchmark Sensex surged 301 points to close at 33250 today on unabated buying by domestic institutional investors amid positive global leads. The Nifty future too went past the 10250-level. The Sensex opened on a strong footing at 33034 and maintained its upward trend to hit the day’s high of 33285 before ending at 33250, up 301 points. The index had rallied 352 points in the previous session on value-buying by investors in recently-battered blue-chip stocks. The Nifty future finished the day at 10290, a hefty gain of 87 points, after shuttling between 10297 and 100211. On a weekly basis, the Sensex gained 417 points, while the Nifty advanced 143 points. Buying by retail investors and domestic institutions has gathered momentum amid strong global cues. Hopes that the Bharatiya Janata Party (BJP) would win critical elections in Gujarat beginning this weekend has contributed to the positive sentiment. Elections in Prime Minister Narendra Modi's home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

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The Market posted a biggest drop after the announcement of RBI kept repo rate unchanged to 6%. RBI Governor Urjit Patel said the credit flow is already better than last October also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicating tough fight for the BJP in Gujarat also dampened market sentiment. The state is slated to go to polls in two phases — on December 9 and 14. Results will be declared on December 18.The Nifty future settled below its crucial psychological level of 10100. Index future has opened at 10111 made a high of 10126 and low 10052 finally closed at 10074. The Sensex was down 205 points at 32597 and the Nifty Bank plunged 273 points at 24942.

RBI MONETARY POLICY LIVE UPDATES 06 DEC 2017

MPC KEEPS REPO RATE UNCHANGED AT 7-YEAR LOW OF 6%