NIFTY PREDICTION & OPTION CALLS FOR 20 DEC 2019

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Bulls continued their record-breaking run. The Nifty surpassed the 12250-mark for the first time after reports that China has exempted tariff on US products. The Sensex gained 115 points to close at 41673 after hitting a record high of 41685. The Nifty was up 38 points to close at 12259. The index hit intraday high of 12261. The Nifty found hit a new peak and closed higher for the third consecutive session on 19 December 2019, driven by buying in select majors such as Reliance Industries, TCS, and Bharti Airtel. The index remained in a intraday range of 77 points before ending at record closing high again. After opening flat, the Nifty saw some consolidation but gained strength in late morning deals and extended the rally as the day progressed. The index hit an intraday record high of 12268 in the late trade and closed 38 points higher at 12259.

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New day new high..!!! Market breaks all the record in Tuesday’s session ahead of the crucial GST Council meeting. The Sensex gained rose 206 points to close at 41558. The Nifty gained 56 points to close at 12221. The market hit record high on the expectations of measures from the Centre to support the economy. Metals & IT stocks traded higher on hopes that easing trade tensions could ensure global growth and increase the order intakes. With the budget around the corner, the government is planning to steer the ship by bringing measures to boost consumption. 

NIFTY PREDICTION & OPTION CALLS FOR 18 DEC 2019

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Bulls came back strongly and pushed the Nifty to fresh all-time highs. Sensex and Nifty hit their fresh all-time highs today led by gains in banking, metal and information technology stocks. While Sensex hit 41401 rising 463 points against its previous close of 40938, Nifty gained 129 points to 12182 compared to previous close of 12053. Sensex has hit new high for the second straight day. On Monday, Sensex reached a new high of 41185. Nifty too rose to 12158, its all-time high.  

NIFTY PREDICTION & OPTION CALLS FOR 17 DEC 2019

After hitting a new record high of 41185 points, Sensex ended 71 points lower at 40938 today. The Nifty, on the other hand, lost 26 points to 12060 points. In the opening session, Sensex had jumped over 175 points to a new record high of 41185 while Nifty Bank had also hit a new high. The Nifty index remained volatile and swung both ways between the level 12134 high  & 12046 low before ending lower at 12053 below 12100 mark. The Nifty has been struggling to clear the 12150–12200 zone. Looking at the chart of the Nifty, it can be construed that the index is trading in the 11900–12150 range, which is similar to the previous week. The short-term trend would be dented only on a breach of the 11900 mark.

NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 16 DEC 20 DEC 2019

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WEEKLY RESISTANCE FOR NIFTY: 12200, 12300, 12400

 PIVOT POINT: 12000

WEEKLY SUPPORT FOR NIFTY:  11900, 11800, 11700

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 12100, 12150, 12200
PIVOT POINT: 12050
DAILY SUPPORT FOR NIFTY:  12000, 11950, 11900
DAILY CHART FOR NIFTY
If an end well all is well finally nifty closed the week near 12100 mark. Bulls march ahead and continue with the momentum. All signs suggest bulls are in a mood to push index higher towards fresh all-time highs however, over the weekend global as well as local triggers are lined up which could create some volatility going ahead. Market breadth was strongly positive and all sectoral indices were in the positive with the highest gainer being the PSU bank index. After a gap up opening market extended gains on Friday on the back of the progress in US-China trade deal and the Conservative Party's likely win in the UK polls. The Sensex was trading 400 points, higher at 40980 levels while the nifty closed the week at 12085 up by 114 points. The Nifty index started the week on a flat note and then corrected in the initial 15 minutes of trade. However, the support of 11883 played its role and the index rebounded from its morning lows. The index then consolidated in a range for the rest of the session and ended the Monday’s session with marginal gains at 11937. The Nifty index started trading on a flat note on Tuesday. Post consolidating in a range till noon, the index corrected along with the broader markets and ended the session with a loss of about 80 points at 11857. Post opening on a flat note on Wednesday, the Nifty pulled a bit higher upto 11900 in the first hour of the trade. However, the index then resumed its correction and crept lower to breach the previous day’s low. Just when the broader markets were witnessing a selling pressure, the index recovered smartly in the last hour of the day and rallied to close above the 11900 mark. After a smart recovery in the last hour in Wednesday’s session, the indices opened gap up in Thursday’s trading session. During the day, the index reclaimed the 12000 mark as the broader markets witnessed good momentum and it ended the session at 11972 with gains of over half a percent. There are a couple of reasons behind Friday’s rally. Not only Boris Johnson is getting the majority that augments smooth Brexit expectations, the trade war also going to end. That is helping the market sentiments. One of the key reason, why US China deals have not worked is due to China not fulfilling its obligation for importing farm products from US. We believe the new agreement will have provisions for automatic roll back of tariff cuts if the other party does not fulfill its obligations. Hence, the chances of this deal going though are better than earlier efforts. From global standpoint, it’s positive news for commodities and equity markets.

NIFTY: A STRONG SUPPORT WILL BE @ 11800; STRONG RESISTANCE LEVEL SEEN @12250

The indices then witnessed a swift up to conclude the week on a positive note. The index surpassed the 12100 mark, but ended the session tad below it at 12085. A sustained move above 12000 could again lead to some broad based buying which could provide good trading opportunities. The Buy on dip approach seem to be working quite well and hence, traders are advised to continue to capitalize on the same and trade with a positive bias. For next week, the support for Nifty is placed in the range of 11900-11800 whereas resistance is seen around 12150-12250.

 TECHNICALLY SPEAKING

Market has seen stupendous run over the past couple of months without any major correction. During this week, we finally saw some respite to this ongoing optimism. In the latest Golden Cross, the 50-day moving average of the MSCI EM Index has reached 12098 compared with the 200-day moving average of 12133. The index had gained nearly 6% after forming a Golden Cross pattern before topping out. The Sensex and Nifty too reported the Golden Cross formation about a fortnight ago A Golden Cross occurs when the short-term moving average crosses above the long-term average. It is perceived as a bullish technical pattern. Besides, Nifty 50’s relative strength index (RSI) is currently 53. RSI is a measure of magnitude of the recent price change. RSI of more than 70 is considered as overbought territory, while sub-30 is oversold.  The sharp upside momentum continued in the Nifty today for the third consecutive sessions and closed the day with decent gains. A long bull candle was formed today with back to back opening upside gaps (both the upside gaps are unfilled). Technically, this pattern indicates a sharp comeback of bulls from the lower levels. Nifty as per weekly timeframe formed a long bull candle with lower shadow. This candle pattern was formed immediately after the formation of bearish engulfing type pattern in the last week. This is positive indication and one may expect further upside in the short term. A sustainable move above 12150 levels could nullify the negative implication of bearish engulfing. One may expect Nifty to reach up to 12,150-200 levels by next week and there is a possibility of an emergence of selling pressure again around all-time highs. Near term, support is places at 11975 zone & Resistance at 12200.

NIFTY PREDICTION & OPTION CALLS FOR 13 DEC 2019

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Bulls made a strong comeback in the market & crossed 12000 mark. The Sensex ended 169 points, higher at 40581.Similarly; the Nifty settled 61 points, higher at 11971. Domestic investors were following cues from global markets which advanced on the US Federal Reserve's dovish outlook. The Federal Reserve policy changed the market sentiments. The Federal Reserve made no change in interest rates in an effort to maintain the economic growth. Investors are also awaiting factory output data scheduled to be released later in the day.  

NIFTY PREDICTION & OPTION CALLS FOR 12 DEC 2019

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A lackluster trading session ended on slightly positive note. Finally bulls successful defended the 11900 mark to close at 11919. Upcoming macro indicators such as CPI inflation and IIP data are unlikely to paint a rosy picture, which may reduce upside potential in the near term. On the global front, FOMC meeting, UK election and US tariff deadline remain key events.

As bulls remain in relaxing mood, indices moves are choppy and recoveries are not sustaining. We continue with our near term view of consolidation phase in the market.

NIFTY PREDICTION & OPTION CALLS FOR 11 DEC 2019

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Bulls are on back foot bears continued to grip the markets in Tuesday’s session also…!!!! Nifty came below 11900 mark. After opening at 11950 nifty made a high of 11953 & came down to 11844 & finally closed at 11856 down by 80 points in intraday. The Sensex ended at 40239 level, down 247 points. Profit-booking continued at the bourses as weak domestic and global economic scenario kept investors on the sidelines. Selling in domestic market accentuated as investors turned more cautious over double whammy of inflationary pressure and weak growth. Another factor which is impacting market is the likelihood of maintenance of status quo on rates by both US Fed and ECB. Given domestic premium valuation of key indices, market is highly susceptible for near term volatility.