NIFTY VIEW & OPTION CALL PUT TIPS FOR 24 JUL 2019

Market slipped for fourth consecutive session on Tuesday as weak corporate earnings, hinting at an economic slowdown, kept investors' sentiment muted. Heavy selling in select bluechip stocks like HDFC twins, State Bank of India, Reliance Industries and HCL Tech dragged indices lower during the last hour of trade. The Sensex settled below the 38000 mark at 37983 levels, down 48 points. The Nifty, ended at 11331 mark, down 15 points.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 23 JUL 2019

The week has started on negative note. Bears continued to grip the markets in today’s session also…!!!! Nifty came close to 11300 mark, made a low of 11301.  Extending their losing streak to the third session in a row, market ended lower on Monday with the frontline indices tumbling nearly 1% amid selling in bluechip counters such as HDFC duos, Bajaj Finance, Hindustan Unilever and ITC. The Sensex lost 306 points to settle at 38031. The Nifty slipped 82 points to settle at 11337 levels. Nifty started from 11392 made a high of 11398.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 22 JUL TO 26 JUL 2019

WEEKLY RESISTANCE FOR NIFTY: 11475, 11575, 11675

 PIVOT POINT: 11400

WEEKLY SUPPORT FOR NIFTY:  11325, 11275, 11200

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11450, 11550, 11650

PIVOT POINT:11425

DAILY SUPPORT FOR NIFTY :  11375,11350,11300

DAILY CHART FOR NIFTY

The week closed on negative note. The Sensex slips 560 pts to log 2nd biggest fall in 2019 so far, Nifty ends at 11419. The Nifty hinted at a positive opening of the week and in line with the expectations, our markets started trading for the week on a positive note above the 11600 mark. The index then consolidated in a range throughout the session and ended the day tad below 11600. The index heavyweight ‘Infosys’ announced its quarterly results over the weekend and the market participants gave thumbs up to its better than expected numbers.  Nifty opened on a flat note on Tuesday and consolidated below the resistance of 11640 for most part of the session. However, Nifty breached this resistance during later part of the session and ended the day around the high point with gains of over six-tenths of a percent.  The index opened marginally positive in Wednesday’s trading session and traded in a narrow range throughout the day to end tad below the 11700 mark. In last few sessions, Nifty has seen a pullback move and has tested its '20 DEMA' in Wednesday’s session. Although the index has given a pullback moves of more than 200 points from the recent lows. Most of the Asian markets were trading with a flat to negative bias before our market open and our indices too witnessed a flat opening in Thursday’s session. However, the weekly expiry session witnessed a negative momentum from the opening ticks itself and the index corrected throughout the session to end the day around 11600. On Friday market slid as there was sharp sell-off by foreign funds due to the government’s reluctance to tweak FPIs income tax surcharge, and the deficiency in monsoon rain, which impacted risk sentiment. Additionally, downward revision in India’s growth to 7% by ADB and lackluster earnings from domestic corporates added anxiety over premium valuation.  
NIFTY: A STRONG SUPPORT WILL BE @ 11350; STRONG RESISTANCE LEVEL SEEN @11600

Next week is the expiry week on Jul series, honestly at this juncture; it’s hard to give any possible direction for the forthcoming week. We need to see how market reacts in the first half. Till the time, 11425-11400 are not violated, the broader structure does not get distorted. But in case if it happens, then get ready for some sharper cuts in the market. On the higher side, 11640-11700 remains to be a sturdy wall. If market has to regain strength, the banking needs to take a charge. Also the IT and Midcaps witnessed complete sell off and hence, we need to see whether the correction is overdone or yet to extend further. At present, traders are advised to stay light and it’s better to adopt a confirmatory approach for a while.

TECHNICALLY SPEAKING.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 18 JUL 2019

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Fresh trade war concerns between the Unites States and China kept the markets jittery. Markets ended Wednesday's choppy trading session with gains. Market continued to gain for third consecutive session with the Nifty reclaiming 11700 level intraday. Corporate earnings kept indices volatile with buying being witnessed in selected PSU and IT scrips. The Sensex added 85 points to settle at 39216 levels with State Bank of India, Tech Mahindra, HCL tech and IndusInd Bank being top gainers. On the contrary, YES Bank, Maruti, ONGC and NTPC were at the lower end of the spectrum.

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NIFTY VIEW & OPTION CALL PUT TIPS FOR 17 JUL 2019

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Bulls are back in action..!!! nifty managed to close above 11650 mark.  Benchmark indices closed strong with the Sensex rising 234 points to 39131 and the Nifty climbing 72 points to 11661. The indices touched intra-day highs of 39174 level at the Sensex and 11670 level at the Nifty. A slew of positive vibes from heavyweights ahead of earnings and lower domestic yield supported the market while profit booking on IT stocks and weak rupee limited gains. Earnings will be the major catalyst where investors are keen to get cues from Q1FY20 results and guidance. Sharp fall in domestic 10-year yield to 6.34% and accommodative stance by the RBI provide a hope for further monetary easing.

NIFTY VIEW & OPTION CALL PUT TIPS FOR 16 JUL 2019

Infosys result changed market sentiments. Liquidity issue in the domestic market and weak economic data in China put pressure on the market. Green shoots from earnings lifted the sentiment of IT sector while ease in WPI inflation (June) to 2.02% added some cheer in the market. Q1 results announced so far have been mixed and going forward is expected to be subdued. Market ended higher led by the rally in Infosys Ltd. The Sensex closed 161 points higher at 38896 and the Nifty ended at 11588. 

NIFTY BANKNIFTY TIPS TO TRADE FOR 12 JUL 2019

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Bulls failed to retain control as Nifty failed to hold on to 11,500 on a closing basis while Sensex fell nearly 200 points in volatile trade. Sensex fell 173 points to 38,557 while Nifty closed 57 points down at 11,498. The index closed below 100-day exponential moving average placed around 11,500.The next big support for Nifty50 is now placed at 11,316, which is 200-day EMA. We advise investors to trade cautiously and wait for clear signs of a breakout for initiating long positions. Nifty formed a bearish candle but it closed above July 9 intraday low of 11,461 that suggests there is a possibility of a pullback. If the index breaks below this level then the selling pressure could extend towards 11,420-11,300, while a close above 11,600 could bull back in charge.

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Resistance: 11600, 11650

Support: 11450, 11400