OPTION CALL PUT TIPS & NIFTY VIEW FOR 8 NOV 19

Bulls continued their record breaking run in sync with firm global peers as risk appetite improved on the back of progress in US-China trade deal talks. Real estate reforms on the domestic front also kept sentiment upbeat.  The Sensex was up 183 points to end at 40653, a new closing high, the Sensex also hit a new high of 40682. The Nifty ended 0.40% higher at 12012. Better-than-expected Q2 earnings season, corporate tax rate cut, measures by the government to boost economic growth and a rally in global markets has boosted the market sentiment. The government on Wednesday announced a ₹25,000 crore fund for completion of stalled residential projects, including ones that have been declared NPAs or admitted for insolvency proceedings, as it looks to boost growth by steering consumption in real estate and associated sectors.

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What a comeback of nifty…!!!! After a bearish start market recovered to hit a new high today. Sensex climbed as much as 358 points to a new intra-day high of 40606. The Nifty also hit 12000 after a gap of five months. The Sensex closed 221 points higher at 40469, also a new closing high, while Nifty settled 0.37% higher at 11961. Realty and financials outperformed in expectation of new measures while metal stocks gained owing to easing global trade war. Better results from index heavyweights kept expectations high for earnings growth, influencing investors to stay in the market. The Sensex rising as much as 358 points to a new intra-day high of 40606. The broader Nifty also hit 12,000 after a gap of five months. The Nifty Bank index was up over 1%. ICICI Bank, IndusInd Bank, Kotak Bank, RBL Bank, HDFC Bank and Axis Bank rose between 1% and 2.5%.

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Tug of war between bulls & bears!!!! The market has been on a wobbly road, largely downwards. The Sensex and Nifty swung between gains and losses on Tuesday as the markets lost steam a day after clocking a record high. The Sensex moved in a range of 228 points, touching 40466 and 40237 at the strongest and weakest levels in morning trade respectively. The Nifty swung a total 117 points between 11861 and 11978, as the markets switched direction at least eight times after a positive opening. 

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Encouraging September quarter results, along with optimism over US-China trade deal aided bulls to stay in the driver's seat. Extending their gaining streak into the seventh session in a row, the market settled with nearly 0.5% gains on the 1^st day of the week.  The Sensex added 137 points to end at a record closing high 40301. During the day, the index hit a fresh high of 40483 levels.  The Nifty ended at 11945, up 54 points.

NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 4 NOV TO 8 NOV 2019

WEEKLY RESISTANCE FOR NIFTY: 11950, 12050, 12150

 PIVOT POINT: 11850

WEEKLY SUPPORT FOR NIFTY:  11750, 11650, 11550

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12000, 12050, 12100
PIVOT POINT: 11900

DAILY SUPPORT FOR NIFTY:  11850, 11800, 11750

DAILY CHART FOR NIFTY

Markets traded lackluster and settled almost on the flat note, taking a breather after the recent surge. A truncated one-hour 'Muhurat' trading session ended on Sunday on a positive note with gains of 0.37% at 11627. After Monday holiday the new SAMVAT started with a bang as most of the global uncertainty seems to have subsided in last few days. After the Muhurat trading day, we had a gap up opening with a small margin. However, right from the word go, bulls dominated the position and in fact, the momentum accelerated as the day progressed. Eventually, the cheerful Tuesday ended tad below the 11800 mark, adding nearly one and half a percent to the bulls’ kitty. Tuesday’s strong broad based rally was followed by a decent bump up at the opening on Wednesday. However, it was merely a formality as we immediately witnessed index correcting back to its previous close. Fortunately, the correction was restricted within first half an hour and thereafter, index continued its gradual march towards the opening point. Despite some small hiccups in the latter half, index managed to close well inside the positive territory. Thursday morning, the global cues were excellent and the set up was just ideal to have a good head-start for the day. In-line with this, the Nifty opened higher by nearly half a percent and within first 10 minutes of trade, 11900 was on the screen. After this, we had a gradual up move for the major part of the day. However, precisely at the stroke of the penultimate hour, market started giving up its gains rapidly and eventually we pared down decent portion of it to conclude the October series tad below the 11900 mark.

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What an awesome comeback of bulls. Market is clearly in a positive setup with festive season seeing improvement in demand and corporate tax rate cut providing the much needed earnings boost. Considering there is likely sequential improvement and earnings visibility. Positive global cues after a rate cut by the US Federal Reserve, buzz of more tax reforms and strategic stake sale in many PSUs lifted the sentiment. The broader Nifty also hit 11945 at day's high. But markets pared some gains on the derivative expiry day to settle off intra-day highs. The Sensex closed 77 points higher at 40129, its second highest close ever, while Nifty settled at 11881.

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Bulls continue to rule the street. Nifty re-conquered the 11850 level. The Nifty came within kissing distance of 11900 mark. The Sensex and Nifty have risen 1080 points and 300 points, respectively in last four sessions. The Sensex rose 269 points to 40055, Nifty rose 97 points to 11883 in trade today. The Sensex had crossed the 40K level last on July 5 (Budget Day) when the index hit an intraday high of 40032. The Sensex and Nifty extended gains for the second straight session today on prospects of the government reviewing existing structure of Long Term Capital Gains tax, Securities Transaction Tax and Dividend Distribution Tax . The Sensex and Nifty have risen 1,080 points and 300 points in the last four sessions. However, the indices have seen major gains in the last two sessions amid a report that the government was reviewing tax structures for market transactions. As government is taking steps for revival amid slowdown in the economy, investors expect more reforms which is pushing indices up. In its first major step to provide fiscal stimulus to pull the economy out of economic slowdown, the government cut corporate tax rate for domestic firms and new domestic manufacturing companies on September 20. Corporate tax rate was brought down to 22% from 30%. For new manufacturing companies, the existing tax was reduced to 15% from rate 25%.

OPTION CALL PUT TIPS & NIFTY OUTLOOK FOR 30 OCT 2019

The Sensex and Nifty rose to 4-month highs on October 29, while Nifty Bank touched 1-month high. Nifty is now 316 points and Sensex is 480 points away from their record highs. Market logged healthy gains as sources indicated that the government is reviewing equity-related tax rate rationalization. 

The market in the near-term is likely to be driven by earnings outcome and auto volume numbers which will be a crucial indicator of the revival in consumer spending. Further, global cues will induce volatility as expectations are high from the ongoing US-China trade negotiations.