NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 16 OCT 2018

NIFTY TODAY
Monday belonged to the bulls…!!! Bulls took the charge on the d-street & took nifty above 10500 mark. The Nifty remained highly volatile throughout Monday’s trading session, but recovered sharply by around 100 points from its intraday low and immediate crucial support of 10400 Market traded in a rangebound manner and ended on a positive note. Negative sentiment over a slowing world economy due to trade war and rising cost of funds is continuing to impact the market. The rupee continued to be under pressure as oil prices started to move up due to sudden spurt in tension between the US and Saudi Arabia. The Q2 results season began on a positive note, with index heavyweights such as IT and FMCG delivering in-line with expectation. The week has started on positive nifty future has opened at 10500 & went down to 10405 mark, after that nifty future has give a smart recovery & took nifty future above 10531 & closed the day at 10520 above 30 points. 

NEXT WEEK NIFTY PREDICTION & CHARTS 15 OCT TO 19 OCT 2018

WEEKLY RESISTANCE FOR NIFTY: 10600, 10700, 10800

 PIVOT POINT: 10300

WEEKLY SUPPORT FOR NIFTY:  10100,10000,9900

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10550, 10600, 10650

PIVOT POINT: 10400

DAILY SUPPORT FOR NIFTY:  10350, 10250, 10150

DAILY CHART FOR NIFTY

The carnage continues and the distressed market is in no mood to spare the market participants caught on the wrong foot. But, historically it’s proven, this is how market functions as it always tries to choke traders/investors up with the velocity of which it moves. During the week, last three days have been a complete nosedive for nifty, which consolidated in a range last week. In the course of the action, the index went on to breach all major supports one after another to eventually register the biggest weekly loss after February 12, 2016. Trading for the week began on a sluggish note and during the initial hours, Nifty once again nosedived to test the 10200 mark. This was followed by a V-shaped recovery in the midst of the session. However, once again this bounce back got sold into completely and in the course of the action, index went on to breach its morning’s low. Fortunately for us, the damage did not increase from there and in fact, we saw yet another bout of strong buying towards the fag end to conclude on a positive note.  On Monday nifty future closed at  10379. On Tuesday  markets had a positive opening with a marginal upside gap as indicated by the SGX Nifty. However, index failed to sustain at higher levels and hence, the early morning lead was merely a formality. During the day index made various attempts to give some bounce back but there every attempt got sold into and eventually index closed with nearly half a percent cut. Nifty future closed at 10314 on Tuesday.  On Wednesday, our markets opened with a decent upside gap despite mixed global cues and in fact, the momentum got accelerated right from the word go. Subsequently, a sustained buying was being witnessed throughout the session to eventually conclude the session with whopping gains over one and half a percent. Nifty future closed at 10324 on Wednesday. After Wednesday’s smart relief rally, no one would have expected such kind of terrible start. But, it’s beyond anyone’s control and this time, the global concerns spooked the market participants. At the close, things certainly do not see horrifying as the index managed to hold its key levels of 10200, which is an indication that probably the sellers have exhausted at least for a while. But, fortunately for us, there was no additional pain seen after a massive gap down. In fact, we did see our markets trying to find their feet throughout the day and the damage was not as big as it looked in the morning & nifty future closed the days at 10252. On Friday nifty posted its biggest intra-day percentage gain in over two years as market sentiment was lifted by a rebound in the rupee, easing crude oil prices and recovery in the global markets as well & closed at 10485 up by 233.

 NIFTY: A STRONG SUPPORT WILL BE @ 10000; STRONG RESISTANCE LEVEL SEEN @10600

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 12 OCT 2018

Market showed a disappointing performance in Thursday's trading session after a strong show in Wednesday’s trade. Wednesday’s rebound on D-Street proved short-lived. The Sensex erased all gains of 2018 on Thursday, as the index plunged over 2%, following selloff in global markets, which was triggered by significant losses in Wall Street in overnight trade. The US stock market plummeted to its lowest level in over eight months. This engulfed Asia and Europe too. European stocks slumped to more than 18-month low in their early trade today. . The global rout, triggered by an overnight tumble on Wall Street, has reached Indian shores and the Sensex fell over 1000 points today while the Nifty hit 10138 at the day’s low.  The Sensex tanked 759 points, to 34001. While Nifty closed the day at 10234 down 225 points. The bloodbath on Dalal Street follows a rout in global equity markets after Wall Street suffered its worst drubbing in eight months, erasing hundreds of billions of dollars of wealth.

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 11 OCT 2018

Bulls took the charge on dalal street & took nifty successfully above 10400 mark. It was all guns blazing by the bulls today. Markets surged more than 1 per cent on Wednesday after he rupee showed some recovery against the US dollar and the banking stocks improved. Non-banking financial companies saw some boost with the State Bank of India (SBI) raising target for its buying loan portfolio.  At the close of market hours, the Sensex closed up 461 points or at 34760, while the Nifty rose 159 points at 10460.

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 10 OCT 2018

The Nifty after gap up opening continued to be volatile throughout the session. It made attempt twice - in morning and in late trade - to touch 10,400 levels but saw selling pressure both the time due to new rupee low and crude volatility. The Nifty ended around 10300, while the Sensex closed over 170 points lower.  At the close of market hours, the Sensex closed down 174 points at 34299. The Nifty opened sharply higher at 10390 and touched an intraday high of 10397, but gradually wiped out gains in morning trade itself to trade lower. In the last hour of trade, it rebounded, but within few minutes of trade, it caught in bear trap again and fell sharply to hit day's low of 10279. The index closed 47 points lower at 10301 amid volatility.

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 09 OCT 2018

The Nifty remained highly volatile throughout Monday’s trading session, but recovered sharply by around 200 points from its intraday low and immediate crucial support of 10200 led by gains in banks, auto and oil and gas stocks.  The  Sensex traded within a range of over 660 points and ended 97 points higher at 34474 points. The Nifty held on to the 10300 levels and closed a tad below the 10350-mark at 10348 points, up 31 points. The Nifty touched an intra-day high of 10398 points and an intra-day low of 10198 points.

NEXT WEEK NIFTY PREDICTION & CHARTS 8 OCT TO 12 OCT 2018

Unchanged repo rate totally vanished the presence of bulls in the market. Bears may pull down nifty till 10,000 in the coming week. 
WEEKLY RESISTANCE FOR NIFTY:10500,10700,10900

 PIVOT POINT: 10200

WEEKLY SUPPORT FOR NIFTY :  10000,9800,9600

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10350,10450,10550

PIVOT POINT:10200

DAILY SUPPORT FOR NIFTY :  10100,10000,9900

DAILY CHART FOR NIFTY

Domestic equity market witnessed a sudden selling pressure after the Reserve Bank of India kept rate unchanged at 6.50 %.  The index settled the day 792 points, lower at 34377. Its counterpart Nifty ended at 10316, down 282 points. On Friday Monetary Policy Committee (MPC) today decided to keep the policy rate unchanged. This was a positive surprise for the markets with the consensus expectation being a hike of 25 bps. RBI policy announcement of keeping rates unchanged is a surprise; this may lead to a negative impact especially the currency market. 
Trading for the week began slightly lower as indicated by the SGX Nifty. Subsequently, in the initial hours, we did see some attempts to recover from early morning lows. However, a strong bout of selling dragged the index significantly lower and within no time, index corrected towards 10800. Things looked extremely bleak at one point; but fortunately, our markets attracted enormous buying interest at lower levels and throughout the second half, there was broad-based rally seen to reclaim the 11000 mark. On Monday nifty future closed at 11061. On Tuesday market was closed on accounts of Gandhi Jayanti.  There is no respite for our markets as Monday’s recovery did not last long. On Wednesday, market opened slightly lower and then traded in a range throughout the first half. There were a couple of attempts made to bounce back from lower levels but all eventually got sold into. In fact, the selling aggravated towards the fag end of the day to conclude the day with a massive cut of 1.5% from the previous close. Wednesday nifty future closed at 10893. On Thursday gap down opening was very much in-line with what SGX Nifty was suggesting early in the morning. However, things worsened as the day progressed and in the course of action, the Nifty corrected more than 300 points on an intraday basis. There were couple of attempts made to see some respite but all got sold into as the selling pressure was quite fierce at higher levels. In terms of index, Thursday was a terrible day for our benchmarks as it was the biggest single day loss (on closing basis) in the recent past, nifty future closed the day at 10631.  

NIFTY: A STRONG SUPPORT WILL BE @ 10100; STRONG RESISTANCE LEVEL SEEN @10500

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 5 OCT 2018

Market was like sea of red on Thursday . The  markets logged it's biggest drop & hit 3 month low. The markets took a major hit as both the key indices amid a selloff witnessed across sectors and weak global cues. The Sensex tanked as much as 858 points to touch 35116 - a level last seen on July 2. The Nifty plummeted 267 points to hit an intraday low of 10591 - its lowest since July 9. The rupee hit another record low, amid weak global cues, boiling crude prices and fears of a widening current account deficit. Concerns over the Reserve Bank of India (RBI) adopting an aggressive stance in its monetary policy statement due to a rise in inflationary pressure led to erosion in investors' risk-taking appetite. Caution prevailed in the markets ahead of RBI's statement due on Friday. We are expecting that the central bank to hike the repo rate by 0.25%.