NIFTY WEEKLY PREDICTION & CHART FOR 25 JUNE TO 29 JUNE 18

WEEKLY RESISTANCE FOR NIFTY:10900,10950, 11000

 PIVOT POINT: 10725

WEEKLY SUPPORT FOR NIFTY :  10630,10600,10525

DAILY RESISTANCE FOR NIFTY: 10875,10930,10970

PIVOT POINT:10700

DAILY SUPPORT FOR NIFTY :  10675,10650,10625

A see–saw week for nifty has ended on a positive note. Nifty closes the week on a positive note though fails to add any gain on weekly basis. It was a week of consolidation as Nifty was well within a range that has been in place for a second consecutive week. Despite the gains from heavyweights like Financials, Pharma, and Pvt. banks along with some muted gains from Energy space it was the laggards that capped the upside given the fact that they continue to post gains on the back of sector rotation. The nifty has opened the week at 10830 made a high of 10837 and low of 10701 and finally closed the week at 10821 up by 4 points. Nifty is well supported at lower levels of 10650-10700. We have seen the base building before at crucial level of 10400 which was being sustained for almost a week to pull up for next rally. We have previously recommended creating long above 10800 and reiterate the same since recent consolidation will pave the way for bulls towards the higher target of 10950 - 11000.

NIFTY FOR THE NEXT WEEK

As we step into the coming week, we will also face expiry of the current derivative series. All eyes are on the OPEC meet as we await the decision though some key developments may have been priced in the markets since Iran has been reluctant to participate in easing supply while it also pointed to unanimity in OPEC meet which is bearish sentiment for crude. Trade war fears have been there and may continue to make a space in the sentiments of markets. That being said, Markets have now adjusted to developments of Trade war and it is now not seen as a risk on market but basically on sectors that are directly affected by it. Metals is something which is affected very much by it and should be avoided for short term. Speaking on broad terms, with the Nifty forming a lower top after 11,100 levels at 10900 , we still rule below this area. There is all likelihood of volatility refusing to go away and we will see the markets trading in a bit wider range with good amount of volatility ingrained in the sessions to come. The resistance points for the coming week are expected to come in at 10895 and 10950. Supports are expected to come in at 10650 and 10575 zone.

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Bulls are back on the driver seat. In Wednesday’s trading session nifty snapped two-day losing streak led by gains Reliance Industries and banking stocks.  The nifty future has started from 10725 made a high of 10796 and low of 10725 & finally closed at 10788 up by 68 points.

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Tug of war between bulls & bears was witnessed in starting of week i.e. today & bears were the winner. Bears tighten their grip on the dalal street & took the nifty below 10800 mark, but the nifty was trading in very narrow range. The Nifty future has started the week from 10809 made a high of 10817 and low of 10781 and finally closed at 10879 down by 25 points. Total 36 points nifty future has moved in intraday.  The Nifty on Monday witnessed selling pressure from the word go and ended up a tad below the psychologically important 10,800 level. The index formed a Small Bearish Belt Hold candle and an ‘Inside Bar’ on the daily chart, as it traded inside the trading range of last session. Index may remain rangebound for some time, before seeing a decisive breakout.

NIFTY WEEKLY PREDICTION & CHART FOR 18 JUNE TO 22 JUNE 18

WEEKLY RESISTANCE FOR NIFTY:10900,10950,11000

 PIVOT POINT: 10750

WEEKLY SUPPORT FOR NIFTY :  10700,10650,10600

DAILY RESISTANCE FOR NIFTY: 10845,10885,10925

PIVOT POINT:10725

DAILY SUPPORT FOR NIFTY :  10700,10675,10650

Reversing a steady start to the week, the market went down on Friday but finally closed marginally higher. The Sensex closed higher by 22 points to 35622, while the Nifty future rose 4.75 points to close at 10818. For the week, Sensex gained 0.50% and Nifty rose 0.46%. Both the indices posted their fifth consecutive weekly gain. after shuttling between 10750 and 10850 during the week. Nifty future has started the week at 10768 made a high of 10873 and low of 10735 & finally closed at 10818. The markets traded rangebound on Friday except for a brief spell in mid-day trade as both Sensex and Nifty finished flat.  higher CPI inflation for May at 4.8 per cent and FOMC meeting on 11 june 2018 ,historic meet between the US President Donald Trump and North Korean leader Kim Jong Un regarding denuclearization of the Korean peninsula on 12 june 2018, US Federal Reserve's decision to raise key interest rates by 0.25 per cent on 13 june 2018 ,  & reuslts of major IT stock Infosys and TCS on 14th & 15 th june  was the key highlights of the week.

NIFTY FOR THE NEXT WEEK

In the next week the market can expect a lot of activity in the PSU banking space after the President signed an ordinance to finetune the insolvency law. The Finance Minister and heads of PSU banks have discussed constructive action plans. Any positive outcome on the recovery front should lead to a rerating of PSU banks.  Few banks like Indian Bank and Vijaya Bank, hopefully, should perform better, as their books are cleaner than their PSU peers. Additionally, markets are likely to take cues from global macros, as news flow on the domestic floe is almost over for now.  On the industry front, we believe pharma stocks have made a confirmed double bottom pattern on the charts and have started an upward journey. Investors with a long-term investment horizon can pick pharma stocks in their portfolios.
NIFTY: A STRONG SUPPORT WILL BE @ 10675; STRONG RESISTANCE LEVEL SEEN @10925

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 15 JUN 2018

It was tough day for bulls. Bulls could not continue the good start as nifty  dropped till the level of 10770 but at the end bulls again came in to the picture and managed to selltle above 10800 support level. Nifty future has started the day at 10823 made a high of 10834 and low of 10770 & finally closed the day at 10813. The US Federal Reserve on expected lines raised rates by 25 bps but hinted at 2 rate hikes in 2018 which led to some nervousness in the market.

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 14 JUN 2018

Bulls got nervous at higher levels as nifty future ended Wednesday session at 10849 with minor gains of 10 points. Nifty formed a new swing high at 10873 level, but market breadth for the day was slightly negative. Sensex and Nifty rose for the third straight day just ahead of the US Fed policy outcome today. Expectation are like that a rate hike this time around is almost a done deal. The markets had risen earlier in the day due to a solid monthly industrial growth data released on Tuesday, which had boosted market sentiment. The country’s industrial output rose by 4.9 per cent in April, up from the 4.4 per cent growth seen in March due to a turnaround in capital goods production as well as an uptick in overall manufacturing growth. The Sensex climbed 47 points, , to finish at 35739.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 13 JUN 2018

Bulls run continued on Tuesday..!!! Nifty hit almost 4 months high due to healthy buying in FMCG, pharma, IT and bank stocks after a historic meet between the US President Donald Trump and North Korean leader Kim Jong Un.  The meet, aimed at denuclearization of the Korean peninsula, was hailed as better-than-expected by market participants. The development gave a boost to major Asian stock markets, including India.  However, the profits were restricted, as investor’s awaited IIP data for April and CPI inflation for May for further cues. The Sensex surged 209 points, to end the day at 35693. The Nifty future climbed 61 points finishing Tuesday's session at 10847. It has opened at 10797 made a high of 10849 and low of 10780 total 69 points nifty future has moved in intraday.

RELIANCE STRANGLE STRATEGY FOR JUN 2018

RELIANCE STRANGLE STRATEGY FOR JUN 2018 

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