NIFTY PREDICTION FOR TOMORROW 14 OCT 2021

The market scaled record highs during the session Wednesday and closed almost a percent higher led by buying across the sectors. The Sensex closed at a record high of 60737, as it rose 488 points and the Nifty index surged 169 points to end at 18161. Both the benchmarks clocked record highs in the session, with Sensex hitting 60,800 for the first time. The broader markets closed mixed as mid-caps surged over 1.5 percent higher but small-caps closed flat. On the back of SGX nifty, the Index opened on a positive note and showed an upside rally and made a new life-time high at 18197 level and closed the session at 18161 level with a gain of 169 levels. While Bank Nifty closed the session at 38635 levels with a gain of 114 points.

NIFTY PREDICTION FOR TOMORROW 13 OCT 2021

It was a volatile session for the markets but bulls gained strength in late trades as Nifty once again breached the 18,000 mark before ending a tad lower below the psychological mark. On daily and intraday charts, Nifty has formed a promising higher bottom formation. The market witnessed some volatile movements and an attempt to hold the 17900 level. The market shows that it is going to be crucial in the short-term scenario to sustain above the 18000 level. 

If the market is able to sustain the level of 18000, we can witness higher levels of 18100-18200. The momentum indicators like RSI and MACD indicating positive momentum is likely to continue. The intraday structure suggests 17850 could be the trend decider level for the bulls. Above the same, the uptrend formation is likely to continue up to 18050-18150 levels. On the flip side, below 17950 the uptrend would be vulnerable.

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Resistance: 18000, 18100, 18200

Support: 17900, 17800, 17700

NIFTY PREDICTION FOR TOMORROW 12 OCT 2021

What a fantastic start of the new trading week. The Nifty opened on a bearish note on 11 October 2021 but bulls shown strength throughout the day and managed to cross the most awaited level of 18000 and made a new lifetime at 18041 level but in the dying hours showed some profit booking and managed to close below 18000 at 17945 level with a gain of 50 points. While Banknifty closed the session at 38293 level with a gain of 518 points. 

NIFTY PREDICTION FOR NEXT WEEK 11 OCT TO 15 OCT 2021

WEEKLY RESISTANCE FOR NIFTY: 18000, 18250, 18500

PIVOT POINT: 17750

WEEKLY SUPPORT FOR NIFTY:  17500, 17250, 17000

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 17950, 18050, 18150

PIVOT POINT: 17850

DAILY SUPPORT FOR NIFTY:  17750, 17650, 17550

DAILY CHART FOR NIFTY

We started the week with a decent bump up and as the day progressed, the momentum kept accelerating in the upward direction. Within first couple of hours, Nifty managed to reclaim the 15700 mark which then decided to consolidate around it for the remainder of the session. Eventually the inaugural day of the week ended with nearly a percent gains.  The US markets underwent a decent correction overnight and the Asian peers obviously reacted negatively to it. The Nifty was indicating a gap down on Tuesday opening but we did not open that lower. In fact, after the initial nervousness, market stabilized and slipped into a consolidation mode throughout the first half. However, the buying emerged immediately post the mid-session which kept accelerating as we moved ahead. Due to good participation from the heavyweight spaces, Nifty went on to reclaim the 17800 mark by adding three fourth of a percent gains. Market was divided into two parts on Wednesday. First one belonged to the mighty bulls but during the latter half, the weakness was clearly visible. . For the first half an hour, index consolidated a bit but then we witnessed some correction to slide below 17800. The bulls were not going to give up as easily as we witnessed a complete recovery to retest morning highs in the first half it. However, globally things started to worsen a bit which resulted in a sharp decline in our market throughout the second half to conclude tad below 17650. Wednesday’s weak session was followed by a surprising opening with a decent gap in the weekly expiry session. This was mainly on the back of overnight recovery seen in US markets. The mighty bulls are certainly in no mood to give up. The way we closed on Wednesday, who would have thought we would open higher yesterday with such a decent margin. After a good head start, index remained in a slender range for the remaining part of the Thursday. Eventually, Nifty ended tad below the 17800 mark by adding more than eight tenths of a percent to the previous close.

NIFTY: A STRONG SUPPORT WILL BE @ 17700; STRONG RESISTANCE LEVEL SEEN @ 18000

.Now we are at the corridor of uncertainty i.e. 17900 – 18000. Whether the market has enough strength to go pass it or not, the time will tell. On the flipside, 17700 first and then the sacrosanct support is placed at 17500. Let’s see how market behaves from here on. Mostly we are reacting to US markets and hence, it would be important to keep a close eye there as well. As far as traders are concerned, they can continue focusing on individual stocks; but do not forget to maintain proper risk management.

TECHNICALLY SPEAKING.

We clearly shrugged off negative cues from the global bourses and moved higher on our own. This indicates how overall strong the trend has been. Although, we have been skeptical of late, market is in no mood to correct. Yes we are in two minds, whether to stick to the recent stance or be with the trend. But as we have been highlighting lately, some of the time wise projections as well as negative divergences are still holding us back. Because such indicators may not provide precise timing but they would certainly be handy in giving early cautions. Hence, we reiterate and advise traders not to get carried away in this move. The market witnessed some volatile movements and an attempt to hold the level around the Nifty Index level of 17895. The market is going to be crucial for the short-term scenario to sustain above the 17750-17850 Nifty Index support zone. If the market is able to sustain the level of 17750-17850, It can witness higher levels of 18000. The momentum indicators like RSI and MACD indicating positive momentum is likely to continue.

NIFTY PREDICTION FOR TOMORROW 08 OCT 2021

On a weekly expiry 07 oct 2021, the Nifty opened on a gap-up note and showed strength throughout the day and set a high at 17857 levels. In the second half of the session, it showed some selling pressure & managed to close at 17790.35 Levels with the gain of 0.82%, while Bank Nifty managed to close with a slight gain of 0.63% at 37753 levels. Nifty Realty leads the show with 6.16% gains in a day. Nifty opened with a gap of 160 points but then traded within a narrow range of 17800 to 17850. Among sectors, strong buying was seen in auto and reality stocks. Amid auto stocks, Tata Motors gain the most rallied over 11 percent. While energy stocks witnessed technical selloff at higher levels. After opening in green, Nifty maintained the lead and closed with a gain of 0.85% at 17796 whereas Bank Nifty closed with a gain of 0.63% at 37757 and Sensex with a gain of 0.80% at 59667. 

NIFTY PREDICTION FOR TOMORROW 07 OCT 2021

Markets witnessed profit taking on the back of weak Asian market cues. After the 17775 support breakdown, selling intensified in Nifty. After a positive opening, the Nifty index wiped out its early gains and traded lower for the day, settling at 17646 levels with a loss of 176 points, while Bank Nifty ended at 37521 levels with a 0.5% fall. All the sectoral indices settled on a negative

note wherein Nifty Metal was the prime laggards for the day. 

Technically, on the daily chart, the index has formed a Bearish Engulfing candlestick pattern, which suggests some weakness for the coming day. Moreover, a momentum indicator Stochastic witnessed a negative crossover. In addition, on a four hourly chart the index has sustained below Middle Bollinger Band formation, which indicates further correction but the overall trend is still looking bullish, so every dip would be a buying opportunity for the fresh entry. At present, the index has immediate support at 17600 while resistance at the 17850 level.

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Resistance: 17750, 17800, 17850

Support: 17650, 17600, 17550

NIFTY PREDICTION FOR TOMORROW 06 OCT 2021

Bulls won Tuesday roller coaster ride. Nifty opened flat, was in red for some time and finally closed in green on second consecutive day with gain of 131 points at 17822. At close Sensex was up by 429 points at 59728 and Nifty Bank was up by 148 points at 37728. After a negative opening, the nifty made an intraday low at 17640 levels, but bulls took charge and managed to close the session near the intraday high at 17822 level with a gain of 131 points. While BankNifty closed the session at 37741 level with a gain of 161 points. 

On the technical basis, the Nifty has formed bullish marabozu candle on daily time frame which points out strength in the counter. Furthermore, the nifty has given closing above 21 & 50 HMA, which suggests northward direction in the counter. Hourly momentum indicator MACD is trading with positive crossover above the zero-level line as well as the index is trading above Ichimoku cloud, which indicate upside momentum in the upcoming session. At present, the Nifty has immediate support at 17750, while resistance comes at 17900 levels. We can see Nifty creating new record highs in near future.

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Resistance: 17900, 17950, 18000

Support: 17800, 17750, 17700

NIFTY PREDICTION FOR TOMORROW 05 OCT 2021

The Indian market snapped its four-day losing streak on September as buying across the sectors saw the Sensex and the Nifty gain 0.91% each. The Sensex closed 534 points higher at 59299 and the Nifty jumped 159 points to 17691. After week-long consolidation, the Indian market was back in action despite unfavorable global sentiments. The momentum is driven by the expectation of better Q2 earnings backed by recovery in economic activity, second wave fallout not being severe and in anticipation of a better outlook from festival demand.

NIFTY PREDICTION FOR NEXT WEEK 4 OCT TO 8 OCT 2021

WEEKLY RESISTANCE FOR NIFTY: 17600, 17800, 18000

PIVOT POINT: 17400

WEEKLY SUPPORT FOR NIFTY:  17200, 17000, 16800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 17550, 17650, 17750

PIVOT POINT: 17500

DAILY SUPPORT FOR NIFTY:  17450, 17350, 17250

DAILY CHART FOR NIFTY

The overnight global cues were positive and the Nifty was trading above 18000 hinting at a positive start. However, the Nifty failed to capitalize on the cues and started the moday marginally positive around 17930. The index did not witness any further upmove from open, but it consolidated within a range of 100 points and ended on a flat note. Nifty started the tuesday marginally positive and traded in a range for the first couple of hours. However, the index then breached the support of 17800 which led to a sell-off and it even entered sub 17600 zone to mark a low of 17576. But it was not over yet, we witnessed sharp pullback from that low in the last hour of the trade and the index trimmed some of the losses to end with a cut of six-tenths of a percent around 17750. The global markets corrected sharply and the cues were not much positive at the opening Wednesday. Hence, inspite of the recovery from the lows on Tuesday, we started yesterday’s sessions on a negative note. However, there was no follow up selling and the index gradually recovered to recoup the losses at one point of time. Nifty ended the session marginally negative above 17700. Nifty started the Thursday expiry session on a flat note and traded within a narrow range till noon. However, we witnessed a gradual correction in the later half and the index ended tad above 17600 with a cut of more than half a percent.

NIFTY: A STRONG SUPPORT WILL BE @ 17000; STRONG RESISTANCE LEVEL SEEN @ 17500

Nifty managed to trade above its previous session low of 17500 which is an important support level (89 EMA on the chart). Nifty consolidated within a range, but the short term support of 17800 which was breached on Tuesday acted as a resistance, and the index did not surpass that either. However, outside the index the stock specific movement was positive and provided good trading opportunities for day traders. The market is showing some uncertainty and rising VIX levels could lead to some higher volatility.

TECHNICALLY SPEAKING.

In last couple of sessions, we had seen some consolidation within the range of 17800-17975 in Nifty. The index breached the immediate support of 17500 which then led to a profit booking during the day. In the recent corrective phase from 17800 to 17350, Nifty managed to form a support around its ‘89 EMA on the chart' and it resumed the uptrend. The 17576 also coincides with the same moving average from where we witnessed a pullback in the end. Whether the index resumes the upmove again from this support or breaks it that should be clear in next 1-2 sessions. But if the index breaches this support around 17550 then we could see a deeper correction this time. Hence, traders should be vigilant on the market moves and book out long positions in case such a scenario unfolds. Below 17500, the next levels to watch would be 17450 and 17350. On the flipside, 17900 and 17800 would be seen as immediate resistances. On the technical front, the Index has given a breakdown of the rising trendline and given closing below the same, which suggests some correction can come. On a daily chart, the index has been trading with lower high, lower low formation, which indicates weakness in the counter. Moreover, the index has started to trade below 21 DMA, which adds weakness in the counter. At present, the Nifty has immediate support at 17400 while resistance comes at 17750 levels.

NIFTY OUTLOOK & OPTION CALL PUT TIPS 30-09-2021

Indian market started on very negative trend due to global sell-off on Tuesday & high crude prices. Spiking US treasury yields and slowing economy were impacting growth stocks. During the day, European & Asian markets recovered and crude prices stabilized. Indian growth-oriented sectors like Energy, Metals and Pharma also recovered strongly but selling continued on other sectors like private sector banks & consumption. At close, the Sensex was down 254 points at 59413, and the Nifty was down 37 points at 17711.