NIFTY VIEW & OPTION CALL PUT TIPS FOR 21 NOV 2018

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NIFTY TODAY

Bulls are on back foot & bears tighten their grip on the D- street & took nifty below 10700 zone. At the close of market hours, the Sensex shut down 300 points at 35474, while the Nifty ended lower by 107 points at 10656, as investors chose to book profits at higher levels amid weakness in the global markets. Moreover, market participants were disappointed by the lack of any directional cues from the nine-hour long RBI board meet. 

NIFTY TOMORROW

NIFTY VIEW & OPTION CALL PUT TIPS FOR 20 NOV 2018

Monday belonged to the bulls…!!! Bulls took the charge on the d-street & took nifty above 10700 mark.  The benchmark indices ended nearly 1 per cent higher on Monday ahead of the outcome of the Reserve Bank of India's (RBI) board meeting. Firming rupee, strong global markets and a dip in crude oil prices from day's high proved to be favourable for the investors on Dalal Street. All eyes were on the outcome for RBI board meet. Over the past few days, the government and the RBI have had discussions in a bid to arrive at a common ground on at least two demands of the government — easing PCA norms for some banks along with aligning the regulatory capital requirement of banks with international norms and a special dispensation for MSMEs. The Sensex ended at 35775, up 318 points, while the broader Nifty settled at 10763, up 81 points.

NIFTY TOMORROW

NEXT WEEK NIFTY PREDICTION & CHARTS 19 NOV TO 22 NOV 2018

WEEKLY RESISTANCE FOR NIFTY: 10700, 10800, 10900

 PIVOT POINT: 10600

WEEKLY SUPPORT FOR NIFTY:  10500, 10400, 10300

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10700,10750,10800
PIVOT POINT: 10600

DAILY SUPPORT FOR NIFTY:  10550, 10500, 10450

DAILY CHART FOR NIFTY

If ends well mean all is well. Continuing its rising streak for the second day, domestic stock markets ended Friday's session on a positive note. The Nifty rose 65 points to settle at 10682. The indices were boosted by a surge in top financial and energy stocks amid continued foreign fund inflows and strengthening rupee.  After Diwali, our markets kick started proceedings for the week on a subdued note. On Monday The overall bias during the initial hour was slightly on the positive side. However, unexpectedly, markets started to feel strong selling pressure at higher level and as a result; index nosedived throughout the second half to eventually close tad below the 10500 mark. On Monday’s disappointing session was followed by a yet another sluggish start on Tuesday, owing to some uncertainty across the globe. Index remained under bit of pressure in the first half; but the second half turned out to be complete opposite of what we saw on Monday. The Nifty took a U-turn from lower levels and then due to sustained buying throughout, eventually managed to regain Monday’s damage to close at the highest point of the day. Wednesday had a gap up opening mainly on the back of overnight extended fall in Crude Oil. However, markets stuck at higher levels and after some consolidation, our markets shaved off all early morning gains. Eventually, Nifty went on to close convincingly below the 10600 mark. On Thursday markets opened flat in the midst of mixed global cues. Subsequently, index consolidated during the first half; but some momentum was seen during the latter half. Index made several attempts to surpass its recent ceiling of 10650. However, once again unable to do so and eventually closed tad above 10600.

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NIFTY TODAY

Thursday belonged to the bulls…!!! Bulls took the charge on the d-street & took nifty above 10600 mark.  The benchmark indices ended on positive note with Nifty managed to close above 10600 level. After a subdued start the market gained some momentum supported by strong rupee and positive Asian peers. The Sensex was up 118 points at 35260, while Nifty was up 40 points at 10616.

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NIFTY TODAY

A range bound trading session has ended on a flat note with the nifty finishing above 10550. The Sensex is down 2.50 points at 35141, while Nifty down 6 points at 10576.  Throughout the session indices was trading on firm not note today as mixed macroeconomic cues precluded the emergence of a strong trend. Additionally, weak global markets put pressure on bourses.

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Bulls are on back foot, Bears continued to rule…  Nifty has started the week on negative note citing weak global markets and rise in oil prices on concerns of production cut. Nifty witnessed selling pressure and dropped below the 10500 level. Indian equity benchmarks erased their opening gains and declined the most in over two weeks. The Sensex ended down 345 points at 34812, while Nifty was down 103 points at 10482.

NEXT WEEK NIFTY PREDICTION & CHARTS 12 NOV TO 16 NOV 2018

WEEKLY RESISTANCE FOR NIFTY:10700,10800,10900

 PIVOT POINT: 10550

WEEKLY SUPPORT FOR NIFTY :  10500,10400,10300

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10700,10750,10800

PIVOT POINT:10600

DAILY SUPPORT FOR NIFTY :  10550,10500,10450

DAILY CHART FOR NIFTY

Diwali week brought back some joy in the traders’ / Investors’ fraternity. Few macro factors like Crude Oil correcting from higher levels as well domestic currency softening led to this much awaited hope rally. There were couple of tentative attempts seen from the markets; but eventually strong buying momentum lifted index significantly higher from last week’s low. During the week, barring muhurat trading day, there has been no major action seen in the Nifty.  Nifty opened on a sluggish note owing to nervous cues from the Asian bourses. Index remained in a bit of pressure for the major part of the day. However, late recovery post the SBI earning resulted into trimming of some portion of losses and in the process, Nifty eventually managed to defend the 10500 mark on a closing basis. Monday’s corrective move can be interpreted as a breather or pull back towards the important support zone of 10480 - 10440. Tuesday’s session was quite similar to Monday’s trading action. Index remained in a slender range with no real momentum in the Nifty ahead of Diwali festival. However, on the auspicious day of Laxmi Pujan on Wednesday, Nifty opened higher with a decent gap and eventually closed tad below the 10600 mark. Thursday Market was closed on accounts of Diwali. Friday nifty was trading slightly lower tracking as the Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally. Nifty closed the week above 10600 mark.

NIFTY: A STRONG SUPPORT WILL BE @ 10675; STRONG RESISTANCE LEVEL SEEN @10925

Now, the nifty future have to hold above the 10600 -10650 zone to extend its upward move towards the 10700-10800 level. It has been making higher highs and higher lows for last four weeks and a hold above 10650 level would be important for the index to move higher.  Minor support for the index lies in the zone of 10600  to 10550. Support for the index lies in the zone of 10500 to 10450. If the index manages to close below these levels then the index can drift to the levels of 10400  to 10350 where long term moving averages levels are lying. Resistance for the index lies in the zone of 10700 to 10800. If the index manages to close above these levels then the index can move to the levels of 10850 to 10900.

Broad range for the week is seen from 10350 on downside & 10750 on upside.

TECHNICALLY SPEAKING.

MARKET SUMMARY OF 9 NOV 2018

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The benchmark indices ended slightly lower on Friday led by a fall in information technology (IT) and metal stocks.
The S&P BSE Sensex ended at 35,159, down 79 points, while the broader Nifty50 index settled at 10,585, down 13 points.Among the sectoral indices, the Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS). The Nifty Metal index slipped 0.9 per cent due to a decline in NMDC. On the other hand, the Nifty Pharma index settled 1.4 per cent higher led by a rise in Sun Pharma.In stock-specific action, Bharti Airtel fell 2.9 per cent to Rs 297 on the BSE after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade.
 The rupee traded on a firm note during the day, rising to 72.58 per dollar, up from its previous close of 73 against the greenback.The benchmark indices settled over 2 per cent lower on Thursday following a weak rupee which sunk to a fresh low in the intraday trade.The rupee slipped to a fresh record low 73.81 per dollar in intraday trade on Thursday, after settling at a record low of 73.34 on Wednesday.The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.Among major stocks, ICICI Bank settled over 4 per cent to Rs 316. It had risen over 5 per cent to Rs 321.25 in intraday trade on the National Stock Exchange (NSE) after the bank's CEO Chanda Kochhar resigned with immediate effect. ICICI Bank has named Sandeep Bakhshi as MD and CEO for five years with effect from October 3.Shares of oil marketing companies fell by up to 13 per cent on Thursday on the BSE after Finance Minister Arun Jaitley announced that these companies will absorb excise duty by Re 1 on petrol and diesel. HPCL, BPCL and IOC tanked up to 13 per cent following the announcement.Among sectoral indices, the Nifty IT index ended nearly  3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever and ITC.In the broader markets, both S&P BSE MidCap and S&P BSE SmallCap indices settled around 2 per cent lower.

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