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MARKET OUTLOOK 25th Nov

The NIFTY opened on a subdued note and traded in a narrow range for the initial hours. The
nifty recorded a low of 4639, before picking up strong momentum toward the end of the day. The
nifty finally closed at 4756, after recording a high of 4771.

With today’s movement the index has just closed above its breakdown level of 4720 (as shown in
the chart). Sustenance above the 4720 levels could see the index extending its pullback to the
levels of 4835-4875--4900 levels. We suggest maintaining a negative bias as long as the nifty
does not close above the 4900levels (38.2% retracement level).

On the downside 4640 levels is providing immediate support (as discussed in the previous
update). A close below the 4640 levels would see the index gathering momentum on the downside
and could test the levels of 4600 /4560 /4488 levels.

MARKET OUTLOOK 24th Oct

The  Nifty  opened  on  a  positive  note  and  registered  an  intraday  high  of  5120  levels.  The  Index witnessed  selling  pressure  from  the  higher  level  which  led  it  to  decline  to  an  intraday  low  of 5037. The index finally closed at 5049 levels with a loss of 41 points. 


The index continued to trade in a narrow range of 5000-5170. As long as index remains in this range,  we  are  likely  to  witness  a  volatile  and  choppy  trading  sessions.  On  the  upside  the  index has  immediate  resistance  at  5170  (recent  swing  top)  above  which  it  is  likely  to  test  the  level  of 5230 (Negative Gap resistance (level).  On the downside a close below the 5000 level could see the declining momentum accentuate to the levels of 4960 /4910 /4880 levels. 

Sustenance  above  the  5230  level  could  see  the  index  filling  up  its  negative  gap  and  the  index could head towards the level of 5270 / 5330 in a short span of time. 

MARKET OUTLOOK 21th Oct

The Nifty opened the session on a bearish note on the back of negative cues from its global peers and  then  traded  in  a  narrow  range  for  most  part  of the  day. The  nifty  recorded  a  low  of  5034, before staging a comeback to move up to a high of 5099. The nifty eventually closed the day at 5092 with a loss of 47 points.

The  index  has  been  trading  in  a  range  of  5000-5170  in  the  last  few  sessions.  As  long  as  index
remains  in  this  range,  we  are  likely  to  witness  a  volatile  and  choppy  trading  sessions.  On  the
upside the index has immediate resistance at 5170 (recent swing top) above which it is likely to test the level of 5230 (Negative Gap resistance (level). In case the nifty fails to get past 5170, it would keep facing supply pressure and could re test the support of 5060/5020 levels.

Sustenance  above  the  5230  level  could  see  the  index  filling  up  its  negative  gap  and  the  index
could head towards the level of 5270 / 5330 in a short span of time.

MARKET OUTLOOK 20th Oct

The NIFTY opened the session on a strong positive note and traded in the range of 5096—5124 levels. After a strong opening the index  witnessed a sideways  movement in the intraday  session and  picked  up  strong  momentum  towards  the  end  of  the  day.  The  index  finally  closed  near  its high of the day at 5139 levels with a gain of 101 points.

The index today witnessed sharp pullback and has managed to close above its mid term moving average. The index is now trading near to its recent swing top of 5170 above which it could head towards  the  level  of  5200-5230  (Negative  gap  resistance  level).  In  case  the  index  fails  to  move above 5170 level then it could be confined in the range of 5170 on the upside and 5000 on the downside.

Sustenance  above  the  5230  level  could  see  the  index  filling  up  its  negative  gap  and  the  index could head towards the level of 5270 / 5330 in a short span of time.

MARKET OUTLOOK 18th Oct

The NIFTY opened on a positive note and registered an intraday high of 5160 levels. The Index
witnessed profit booking from the higher level which led it to decline to an intraday low of 5084.
The nifty finally closed at 5118 with a loss of 14 points.

The  index  today  witnessed  profit  booking  near  its  previous  swing  top  at  5170  levels.  Going
forward  we  expect  that  a  close  above  this  swing  top  the  index  is  likely to  test  the level  of  5230
levels (Negative Gap resistance levels). Sustenance above the 5230 would see the index filling up
its negative gap and it could head towards the levels of 5270 / 5300 -5320 levels in a short span
of time.
 On the downside the index has immediate support at the levels of 5060 / 5020 levels.

MARKET OUTLOOK 14th Oct

The NIFTY opened on a positive note and registered an intraday high of 5136 levels. The Index witnessed profit booking from the higher level which led it to decline to an intraday low of 5067 levels. The nifty finally closed at 5077 with a loss of 21 points.

It is to be noted that the index has recovered almost 350 points from the lows of 4728 levels which have stretched the daily momentum indicators higher. So we expect the nifty might take a breather for the upcoming session. ON the upside the index has resistances at the levels of 5170 /5200-5025 levels (negative gap resistance level).

Any decline from current levels would garner strong support in the range of 5010-4970 levels as
the cluster of short term averages are place in this range.

MARKET OUTLOOK 11th Oct

The Nifty opened on a positive note and maintained its strength throughout the day. The Nifty registered a high of 4991 and closed very near to that level at 4979, a total gain of 91 (1.87 %) points.

As discussed in our previous update, the index continued its upward movement and has managed to achieve its first target level of 4980 levels. Going forward the index is likely to test its next immediate resistance levels of 5025 and only a sustained move above this levels could see index heading higher towards the levels of 5060 / 5110 /5170 in the near term.

On the downside the index has immediate support at the 4920 levels followed by the 4890 /4860
levels.

MARKET OUTLOOK 10th Oct

The NIFTY opened the session on a strong positive note and traded in the range of 4922—4960
levels. The index witnessed a sideways movement in the intraday session after a strong opening.
The index eventually closed the day at 4888 levels with a gain of 136 points.

The Index has taken strong support & seems to be making a double bottom at 4720 levels .On
the weekly chart it has shown a reversal bar at this level, suggesting that the bottom is in place.
Going forward the nifty now needs to sustain above 4920 levels, which would give some strength
and a possible test of levels of 4980 / 5025 /5060 levels in the near term.

Any pullback from the current level is likely to garner support at the levels of 4825 /4800 levels
which should be considered as an opportunity to create fresh longs.

MARKET OUTLOOK 7th Oct

The NIFTY opened on a positive note and registered an intraday high of 4827 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraday low of 4741.

The Nifty finally closed at 4751 with a loss of 20 points. Despite the selling pressure the index has managed to close above its crucial support level of 4720 levels.

Going forward only a sustained move below the 4720 would start a fresh round of decline which would accentuate the index towards the level of 4675 /4600 levels.

In case the Nifty hold the 4720 level then it could be confined in a range of 4720 on the downside and 4920 on the upside. The intraday resistances are placed at 4825 /4880 /4920.

MARKET OUTLOOK 5th Oct

The NIFTY opened the session on a tentative note and registered an intraday high of 4869 levels.

However the selling returned at the higher levels which plunged the index to an intraday low of 4728.

The NIFTY finally closed at 4772 with a loss of 77 points. The index continued its downward movement once it sustained below its 4825-4800 levels and has now tested its recent low level of 4720 levels.

Sustenance below the 4720 level could start a fresh round of decline which would accentuate the index towards the level of 4675 /4600 levels.

Any pullback from the current level is likely to face stiff resistances at the levels of 4825 /4880 /4910 levels.

MARKET OUTLOOK 4th Oct

The NIFTY opened the session with a negative gap on back of weak global cues.

Thereafter the index traded in a narrow range of 4825-4875 for the rest of the session.

The Nifty finally closed at 4849 with a loss of 93 points. With today’s movement the index has registered a close below its support level of 4900 levels.

Going forward if the index sustain below the 4825-4800 levels then it could decline towards its recent swing levels of 4760 /4720 levels. On the upside the index has resistances at the levels of 4900 / 4940 levels.

A close below the recent swing low of 4720 levels would accentuate the declining momentum towards the level of 4675 /4600 levels.

MARKET OUTLOOK 3rd Oct

The NIFTY opened on a tentative note and registered an intraday high of 5025 levels.

The Index witnessed selling pressure from the higher level which led it to decline to an intraday low of 4924 levels.

The Nifty finally closed at 4943 with a loss of 72 points. The overall movement of the index is currently in the broader range of 4750- 5200 levels.

As long as the index remains in this range we are going to witness choppy and volatile moves in the either direction.

Going forward, the next immediate resistance is placed at 5060 levels. A sustained move past this level would see the index rallying to the next level of 5110 /5170-5200 levels.

On the downside the index has been taking good support at the 4900 levels for the last few session. Hence, these levels should be taken into consideration as crucial support.

A close below the 4900 could see the index declining towards the levels of 4830 / 4750 levels.

MARKET OUTLOOK 30th Sept

ON the day of expiry The NIFTY opened on a negative note and traded in a narrow range for the initial hours.

The nifty recorded a low of 4906, before picking up strong momentum towards the
end of the day.

The nifty finally closed at 5015, after recording a high of 5034. After a day of consolidation the index continued its upward movement and has closed above the
5000 levels.

Going forward the index is likely to test its immediate resistance placed at 5060
levels (negative gap resistance level).

Sustenance above the 5060 levels could see the index heading towards the target of 5110 /5170.

In case the nifty fails to get past the resistance of 5060 then it could be confined in the range of 4900 on the downside and 5060 on the upside. The intraday supports for the index are placed at 4980 /4930 /4900 levels.

MARKET OUTLOOK 29th Sept

The NIFTY opened on a positive note and registered an intraday high of 5006 levels. The Index witnessed profit booking from the higher level which led it to decline to an intraday low of 4918.

The nifty finally closed at 4945 with a loss of 25 points. The Nifty consolidated its gain after it witnessed a sharp rally of more than 2 % during yesterday’s session.

The index has closed below its short term moving average placed 4962 levels and a sustain move above this level could see the index continuing its upward movement
and could test the levels of 5000 -5025 / 5070 (negative gap resistance) levels.

On the downside the index has immediate support at the 4905 levels followed by the 4875 /4830 levels.

MARKET OUTLOOK 28th Sept

The nifty opened the session on a positive note on back of strong global cues. The index maintained its strength throughout the day and registered an intraday high of 4982.

The Nifty finally closed at 4971, a total gain of 135 (2.8 %) points. The index continued its strong rebound that was witnessed during the latter part of the
yesterday’s sessions.

The nifty now needs to sustain above 4969 (Short Term Moving average), which would give some strength and a possible test of levels of 5025 or even 5070 (negative gap
resistance).

On the downside the index has supports at the levels of 4930 / 4900 / 4870 / 4835.

MARKET OUTLOOK 27th Sept

The Nifty opened on a negative note and plunged to an intraday low of 4758 levels. The NIFTY

lost more than 100 points during the early part of the day’s trade.

The index witnessed a pullback from the lower levels and finally closed at 4835 levels with a loss of 32 points.

The index continued its downward movement after witnessing a breakdown from its crucial

support levels of 4910-4900 levels.

The index has managed to achieve its downside target of 4840 /4800 /4750 (intraday basis). Going forward the index is likely to witness a volatile trading session in the coming session, wherein it is likely to trade in a range of 5025 on the upside and 4720 on the downside.

The intraday resistances are placed at 4910 followed by the 4970 / 5025 levels. A close below the recent swing low of 4720 levels would accentuate the declining momentum towards the level of 4675 /4600 levels.

MARKET OUTLOOK 26rd Sept

The NIFTY opened the session on a negative note and plunged to an intraday low of 4829 levels.

The index witnessed a pullback from the lower level which led it to an intraday high of 4930

levels. However the index failed to hold on to the higher levels and finally closed at 4867 levels

with a loss of 55 points.

With today’s movement the index has registered a breakdown from its critical support level of

4900-4910 levels.

This breakdown suggests that the index is likely to decline towards the level of 4840 /4800 /4750-4720 (recent swing low level) in the near term, if it sustains below the 4900

levels on a closing basis.

Further it is to be noted that the index has witnessed a sharp fall of more than 250 points in the

last 2 sessions which has stretched the short term indicators into an oversold territory.

Hence a pullback from the current level cannot be ruled out. Any up move from the current level is likely to face stiff resistance around the 4910 followed by the 4970 / 5025 /5060 levels.

MARKET OUTLOOK 23rd Sept

The NIFTY opened the session on a negative gap on back of weak global cues. The index spent

the entire session trading in the negative territory and the selling pressure increased as the

session progressed.

The index registered an intraday low of 4907 and finally closed at the 4923 level with a loss of 209 points.

The most important observation is that the nifty has closed near to its support levels of 4910-

4900 .

This is a very critical level (as it comes out as a support zone on multiple factors) and we believe that the chances of nifty holding out here are by far the best.

If the nifty sustains below 4900, expect the decline to accelerate to levels of 4860 /4800 or even test its recent swing low level of 4720.

On the upside, the immediate short term upside seems to be limited to levels of 4970 /5025 levels.

MARKET OUTLOOK 21th Sept

The NIFTY opened the session on a positive note and traded in a narrow range for the initial

period. Buying activity was intensified in the later part of the session which led the index to an

intraday high of 5149 levels.

The index finally closed at 5140 with a gain of 108 points. With today’s movement the index has witnessed a strong pullback from its short term moving averages.

Going forward the index is likely to test its crucial resistance levels of 5200-5230 (negative gap resistance level).

Sustenance above the 5230 would see the index filling up its negative gap and it could head towards the levels of 5270 / 5300 -5320 levels in a short span of time.

On the downside if the index gives any pullback from the current levels, it will garner support at

the levels of 5100 / 5070 /5030 levels.

MARKET OUTLOOK 20th Sept

The NIFTY opened on a negative note on back of weak global cues. Thereafter the index traded

in a narrow range for rest of the session.

The nifty registered an intraday low of 5019 levels and eventually closed the day at 5031 with a gain of 52 points.

With today’s movement the index has closed just below its short term moving average (currently placed at 5036 levels).

Sustenance below the 5036 levels could see a bit more of corrective decline to levels of 5000 / 4970 /4910 levels.

On the upside the index has resistances at the levels of 5070 / 5115 /5160 /5200-5230 (negative gap resistance level).

In case the nifty closes below the 4910 levels, expect downward movement to gain momentum

and index could decline to 4860-4840 /4800 / 4750 levels.

MARKET OUTLOOK 19th Sept

The NIFTY opened on a positive note on back of strong global cues. The index witnessed a

volatile session with high volume participation.

The nifty registered an intraday low of 5068 levels and eventually closed the day at 5084 with a marginal gain of 8 points.

The index continued its upwards movement after registering a breakout from the trading range

of 4910-5050 levels.

As long as index closes above the 5050 levels , it is likely to head towards the level of 5115 /5160 /5190 /5200-5230 (negative gap resistance level) in the near term.

Sustenance below the 5050 levels could see a bit more of corrective decline towards the level of

5020 /4970 / 4940 levels.

MARKET OUTLOOK 16th Sept

The NIFTY opened on a tentative note and plunged to an intraday low of 4967. Buying activity

was intensified in the later part of the session which led the index an intraday high of 5091.

The nifty eventually closed the day at 5075 with gain of 63 points. With today’s movement the nifty has registered a breakout from its trading range of 4910- 5050 levels and in the process has negated the bearish head and shoulder pattern on its intraday chart.

This breakout suggests that the index could continue its upward movement towards the levels of 5115 /5160 /5200-5230 (negative gap resistance level), if it sustains above the 5050 level.

On the downside the index has immediate support at the 5050 level followed by the 5020 /4970

levels.

MARKET OUTLOOK 15th Sept

The NIFTY opened on a tentative note and traded in a narrow range for the initial period. The

nifty recorded a low of 4917, before staging a comeback to move up to a high of 5026.

The nifty eventually closed the day at 5012 with gain of 71 points. With today’s movement the nifty has managed to bounce back from its neckline support level of 4910.

Going forward the index needs to closed above the 5050 levels to negate the bearish head

and shoulder pattern (Intraday chart) and then it could head towards the level of 5100 /5160.

Failure to close above 5050 level could see the index trading in a range of 5050 on the upside

and 4910 on the downside.

A break below the 4910 level could see the bearish head and shoulder taking its effect and then the index could decline towards the levels of 4860-4840 /4800 /4750.

MARKET OUTLOOK 14th Sept

The NIFTY opened on a positive note and registered an intraday high of 5030 levels. The Index

witnessed selling pressure from the higher level which led it to decline to an intraday low of

4911. The Nifty finally closed at 4940 with a marginal loss of 5 points.

The most important observation is that the nifty appears to be forming a Head & Shoulder

pattern (as marked in the intraday chart above).

A Head & Shoulder is a bearish pattern as it is associated with sharp price decline once the Nifty records a breakdown from its neckline support level of 4910.

The measuring implications of the pattern suggest that following a breakdown the index could head towards the following price levels: 4860-4840 /4800 / 4750 levels.

On the upside the index has multiple resistances at the levels of 4980 / 5020 /5050. The head

shoulder pattern would be negated once the nifty closes above the 5050 level.

MARKET OUTLOOK 13th Sept

The Nifty opened the session with a negative gap and plunged to an intraday low of 4911 levels.

The NIFTY lost close to 150 points during the early part of the day’s trade.

The index witnessed a pullback from the lower levels and finally closed at 4946 levels with a loss of 112 points.

In our previous update we had mentioned that a sustenance below the 5050 level ( Short Term

Moving average ) could start a fresh round of decline, which could take the index to 5000-4990 /4960-4940 levels and the nifty did that, thus meeting our all targets.

Going forward the index is likely to gain momentum on the downside once it sustains below the 4900-4890 levels and then could test the following levels: 4860-4840 / 4800.

On the upside the index has immediate resistance at the 4985 levels, above which the index is

likely to fill up its negative gap and could head towards the levels of 5050.

MARKET OUTLOOK 12th Sept

The Nifty opened the session on a tentative note and registered an intraday high of 5163 levels.

Thereafter the index spent the entire session trading in the negative territory and the selling

pressure increased as the session progressed.

The index registered an intraday low of 5046 levels and finally closed the session at the 5059 levels with a loss of 93 points.

The Index today failed to sustain above the 5110-5130 levels and in the process has also closed

just above its short moving average currently placed at 5050 levels.

Sustenance below the 5050 levels could start a fresh round of decline, which could take the index to the 5000-4990 / 4960- 4940 levels in the near term.

On the upside the index has immediate resistance at the 5110 levels followed by the 5160 / 5190 /5230 (negative gap resistance level).

MARKET OUTLOOK 9th Sept

The NIFTY opened on a tentative note and traded in a narrow range for most part of the session.

The nifty recorded a low of 5098, before picking up strong momentum towards the end of the

day. The nifty finally closed at 5153 with a gain of 28 points.

With today’s movement the index has given a closed above its resistance zone of 5110-5130

levels.

Going forward the index is likely to head towards the levels of 5190 /5230(negative gap resistance level.

The level of 5230 would act as important resistance level and the index could witness some kind of profit booking around this level.

On the downside the index has support at the levels of 5110 / 5070 / 5030 levels. A close above the 5230 would see the index filling up its negative gap and it could head towards the levels of 5300 -5320 levels in a short span of time.

MARKET OUTLOOK 8th Sept

The NIFTY opened on a positive note taking cues from its Asian peers. Thereafter the index

maintained its strength throughout the day and registered an intraday high of 5154.

The nifty eventually closed at 5124 levels, a total gain of 60 points. With today’s movement the index has given a close above its resistance level of 5110 (being the 38.2 % retracement from 08 July highs of 5740 to 26 August lows of 4720).

The index now needs to sustain above the 5130 levels to continue its upward movement and a possible test of 5190 /5230 (negative gap resistance level).

Failure to sustain above 5110-5130 levels could see the index confined in a range of 5130 on the

upside and 4950-4940 on the downside.

The immediate support is place at 5070 levels followed by the 5040 / 5017 (short term moving average).

MARKET OUTLOOK 7th Sept

The Nifty opened the session on a negative note and plunged to an intraday low of 4942 levels.

The nifty witnessed a strong bounce from the lower levels which led it to an intraday high of 5072 levels. The nifty finally closed at 5064 with a gain of 47 points.

It is to be noted that the index has once again managed to bounce back from its short term moving average (as shown in the chart above). Going forward the index is likely to test its key resistance level of 5110- (being the 38.2 % retracement from 08 July highs of 5740 to 26 August lows of 4720) 5130. Sustenance above 5130 levels could see the index head higher to the level of 5190 /5230 (negative gap resistance level).

Failure to close above 5110-5130 levels could see the index confined in a range of 5130 on the upside and 4950-4940 on the downside. The immediate support is place at 5030 levels followed by the 4988 (short term moving average) / 4950-4940 levels.

MARKET OUTLOOK

The Nifty opened the session on a bearish note on the back of negative cues from its global

peers.

The nifty recorded a low of 4964, before picking up strong momentum towards the end of

the day. The nifty finally closed at 5017, after recording a high of 5030.

Despite the selling pressure witnessed during the initial part of the trading session, the index has

managed to close above its short term EMA (currently placed at 4965 levels), which would act

as an immediate support.

Going forward the index is likely to trade in a range of 4965-4950 on the downside and 5110-5130 on the upside.

In case the nifty closes below the 4950 level, expect a bit more of corrective decline to 4920

/4870 levels.

On the upside 5050 is acting as an immediate resistance level followed by the 5110- 5130 levels.

MARKET OUTLOOK

The NIFTY opened the session with a positive gap and registered an intraday high of 5113

levels.

The index shed some of its initial gains and declined to an intraday low of 4993 levels. Buying activity was intensified in the later part of the session which led the index hold on to its intraday gains. The index finally closed at 5040 levels, a gain of 39 points.

The index could take a breather after registering a strong rise of more than 6 % over the last few

days and the levels of 5110 - (being the 38.2 % retracement from 08 July highs of 5740 to 26 August lows of 4720) 5130 could see some supply emerge.

The immediate support for the nifty is placed at levels of 5000 / 4952 (short Term moving average) /4920.

In case the nifty sustains above 5130 levels then it could head higher to the level of 5190 /5230

(negative gap resistance level).

MARKET OUTLOOK

The NIFTY opened the session on a positive gap and then traded in a narrow range for most part
of the day.

The nifty recorded a low of 4927, before staging a comeback to move up to a high of 5016. The nifty eventually closed the day at 5001 with gain of 81 points.

The index has witnessed a strong pullback of more than 250 points in last two sessions. This
pullback has helped the index to trade above its short term moving average (currently placed at
4927 levels), which has been acting as a strong resistance in the recent up moves.

Going forward the index has immediate resistance placed at the 5030 levels, above which the index
could head towards the levels of 5080 /5125.

On the downside supports are placed at 4960 / 4927 (short term moving average) / 4870 levels.

MARKET OUTLOOK

The NIFTY opened on a positive note and failed to sustain at the higher levels. Thereafter the

index spent the entire session trading in the negative territory and the selling pressure increased

as the session progressed.

The index registered an intraday low of 4720 levels and finally closed the session at the 4747 levels with a loss of 91 points.

We had mentioned in our previous update that a break below the 4800 level could start a fresh

round of decline, which could take the index 4740 /4700-4690 / 4650 levels and the nifty did that.

With today’s movement the NIFTY has managed to achieve our first downside targets of 4740

levels.

Going forward the index is likely to decline towards it next support level of 4700-4690

/4650 levels in the near term.

Any pullback from the current level is likely to face resistances at the 4800 /4840 /4890 levels.

MARKET OUTLOOK

The NIFTY opened the session on a positive note and registered an intraday high of 4962 levels.

The Index witnessed selling pressure from the higher level which led it to decline to an intraday

low of 4875.

The NIFTY finally closed at 4888 with a loss of 60 points. After two session of pullback from the lows of 4800 levels the index witnessed selling pressure near to the short term moving average currently placed at 4969 levels.

We have discussed in our previous update that the index has been facing stiff resistance at the short term moving average since the fall from 5500 levels.

Tomorrow being the expiry day for the F-O segment we might witness a volatile trading session where in the nifty might trade in a range of 4800 on the downside and 4970 on the upside.

The intraday resistances are placed at the levels of 4930 /4970 followed by the 5000-5020 levels.

On the downside the immediate support for the index are placed at 4860 and 4800 levels.

Sustenance below the 4800 levels could start a fresh round of decline, which could take the index

to the 4740 /4700-4690 / 4650 in the near term.

MARKET OUTLOOK

The NIFTY opened on a positive note and failed to sustain at the higher levels. The index shed

some of its initial gains and registered an intraday low of 4863 levels.

But the index witnessed some buying at lower levels as the session progressed which helped the index recover and thus registered an intraday high of 4965 levels.

The index finally closed at 4948 levels, a gain of 50 points. With today’s movement the index has managed to close above its negative gap resistance placed at 4900-4930 levels.

Sustenance above the 4930 levels could see index test its immediate resistances placed at the 5000-5020 levels.

An Important observation to me made is that the every pullback from the fall of 5500 to 4800

levels has failed to close above the short term moving average currently placed at 5500 levels

(as shown in the chart above).

Hence a close above the short term moving average would inject some optimism and the index could head towards the levels of 5080 / 5130 levels.

Failure to sustain above the 5000-5020 levels could see the index trading in a range of 5000 on

the upside and 4800 on the downside.

The immediate support for the index is placed at 4930- 4900 followed by the 4860 /4800 levels.

A break below 4800 would be negative and trigger further declines to the level of 4740 /4700-

4690 / 4650 in the near term.

MARKET OUTLOOK

The NIFTY opened on a tentative note and traded in a narrow range for the initial hours.

The nifty recorded a low of 4808, before picking up strong momentum towards the afternoon session.

The nifty finally closed at 4898, after recording a high of 4910. After witnessing a sharp fall of more than 250 points in the last two sessions the index today hasgiven a technical pullback The nifty now needs to sustain above 4930 levels , which would give some strength and a possible continuation of the pullback to the levels of 5000-5020.

In case the nifty fails to get past 4930, it would keep facing supply pressure and could re test its immediate low of 4800 levels.

A break below 4800 would be negative and trigger further declines to the level of 4740 /4700-

4690 / 4650 in the near term.

MARKET OUTLOOK

The Nifty opened the session on a bearish note on the back of negative cues from its global

peers.

The index spent the entire session trading in the negative territory and the selling pressure

increased as the session progressed.

The index registered an intraday low of 4796 levels and finally closed the session at the 4845 levels with a loss of 98 points.

The index continued its downward movement once it closed below its recent swing low of 4950

and in the process has managed to achieved our target levels of 4890 /4840 /4800.

Going forward if the index sustains below the 4800 then the declining momentum could accentuate to the levels of 4740 /4700-4690 / 4650 in the near term.

The immediate upside seems to be limited to the levels of 4890—4930 levels (negative gap

resistance), but a close above the 4930 levels might inject some optimist and a bounce to levels

of 5000-5020.

MARKET OUTLOOK

The Nifty opened the session on a positive note and registered an intraday high of 5078.

Thereafter the index spent the entire session trading in the negative territory and the selling

pressure increased as the session progressed.

The index registered an intraday low of 4932 levels and finally closed the session at the 4944 levels with a loss of 112 points.

In our previous update we had mentioned that a break below the 5015 level could see the index

re testing its recent swing low levels of 4950 and the nifty did that.

Sustenance below the 4950 levels could start a fresh round of decline, which could take the index to the 4890 / 4840 / 4800 levels in the near term.

Any pullback from the current level is likely to face stiff resistances at the levels 5010 / 5040

levels.

MARKET OUTLOOK

The NIFTY opened the session on a positive note and registered an intraday high of 5112 levels.

However the selling returned at the higher levels which plunged the index to an intraday low of

5017.

The NIFTY witnessed pullback from the lower level and eventually closed at 5056 with a

gain of 20 points.

The index has been trading in a narrow range of 5015-5130 for the last couple of trading session.

In case the nifty sustains below the 5015 levels, it would keep facing supply pressure and could re test its recent swing low levels of 4950.

A break below 4950 would be negative and could trigger further declines to the level of 4890 / 4840.

On the upside the index needs to sustain above the 5130 levels to continue it pullback to the

levels of 5200-5235.

MARKET OUTLOOK

The NIFTY opened on a positive note and registered an intraday high of 5132 levels. The Index

witnessed selling pressure from the higher level which led it to decline to an intraday low of

5015.

The NIFTY eventually closed at 5035 with a loss of 37 points. Despite the strong opening the index failed to trade above its immediate resistance level of 5130 levels.

Going forward the index is likely to decline towards the level of 5110 / 4950 levels (recent swing low) in the near term.

Any pullback from the current levels is likely to face resistances at the levels of 5095 /5130 / 5200.

A close below 4950 would be negative and could see the index extending its declines towards the

levels of 4890 / 4840.

MARKET OUTLOOK

The NIFTY opened on a positive note and registered an intraday high of 5194 levels. The Index

witnessed selling pressure from the higher level which led it to decline to an intraday low of

5053.

The NIFTY eventually closed at 5072 with a loss of 65 points. With today’s movement the index has been given a breakdown below its narrow range of 5120- 5200.

This breakdown suggests that the index is likely to decline towards the next support level

of 5025 / 4950.

A close below 4950 would see the index extending its declines towards the level of 4890 / 4840 in the near term.

The immediate upside seems to be limited to the levels of 5130 /5200-5235 levels, but a close above the 5235 levels, might inject some optimism and one could see the index bounce towards the levels of 5270 /5330.

MARKET OUTLOOK

The NIFTY opened on a tentative note and traded in a narrow range throughout the day. The

index witnessed a lackluster session with low volume participation.

The index registered a low of 5121 and eventually closed at 5138 levels with a loss of 22 points.

The index has been consolidating in a narrow range of 5120-5200 for the last couple of trading

session.

In case the nifty sustains below the 5120 levels, it would keep facing supply pressure and

could re test support levels of 5090 /5030 / 4950.

A break below 4950 would be negative and trigger further declines to the level of 4890 / 4840.

On the upside the index needs to sustain above the 5200-5235 levels to continue it pullback to

the levels of 5270 / 5330.

MARKET OUTLOOK

The NIFTY opened the session with a positive gap and registered an intraday high of 5197

levels. Thereafter the index traded in a narrow range for rest of the session.

The nifty registered a low of 5123 and eventually closed the day at 5161 with a gain of 88 points.

After witnessing a sharp fall of more than 600 points in the last seven sessions the index today

has given a technical pullback.

The index is now trading near to its immediate resistance level of 5200-5235. Sustenance above the 5235 level could see the index testing its breakdown level of 5270 followed by the 5325 levels.

Failure to sustain above the 5200--5235 level could see index declining towards the level of 5090 /5030 /4950 levels.

MARKET OUTLOOK

The NIFTY opened the session with a negative gap on back of weak global cues. The nifty recorded a low of 4946, before staging a comeback to move up to a high of 5167.

The nifty eventually closed the day at 5072 with a loss of 45 points. With today’s movement the index has managed to achieve our downside targets of 5050 /4990- 4970 (as discussed in our previous update).

Going forward the index is likely to witness a volatile trading sessions over the upcoming few days, wherein it is likely to trade in a range of 5200-5230 on the upside and 4950 on the downside.

A close below 4950 would be negative and the index could slide further downside to the levels of

4890 / 4840 levels in the near term.

MARKET OUTLOOK

The Nifty opened on a negative note on back of weak global cues and plunged to an intraday low
of 5054 levels. The index witnessed a pullback from the lower levels and registerd a high of 5204
levels. The NIFTY finally closed at 5118 levels with a loss of 92 points.

The index continued its downward movement after the breakdown witnessed from its crucial
support levels of 5270 levels. The index has managed to achieve our first downside target of
5100-5090 (intraday basis). The index is likely to gain momentum on the downside once it
sustains below the 5090 levels and could test the following levels: 5050 / 4990-4970.

Further it is to be noted that the index has witnessed a sharp fall of more than 400 points in the
last 6 sessions which has stretched the short term indicators into an oversold territory. Hence the index might witness a sharp pullback from the current or lower level. On the upside the index
has multiple resistances at the 5230 /5270 levels.

MARKET OUTLOOK

The Nifty opened on a negative note and plunged to an intraday low of 5116 levels. The NIFTY
lost close to 200 points during the early part of the day’s trade. The index witnessed a pullback
from the lower levels and finally closed at 5211 levels with a loss of 120 points.
The most important observation is that the index has registered a breakdown from its critical
support level of 5270 levels (as shown in the chart above). This breakdown suggests that the
index is likely to decline towards the level of 5100 - 5090 / 4970 /4800 levels in the near term.
Another key observation to be made is the oversold reading on short term indicators. Hence a
pullback from the current level cannot be ruled out. Any up move from the current level is likely
to face stiff resistance around the 5270-5330 (Negative Gap Resistance) followed by the 5400
levels.

MARKET OUTLOOK

The Nifty opened on a negative note and plunged to an intraday low of 5116 levels.

The NIFTY lost close to 200 points during the early part of the day’s trade. The index witnessed a pullback from the lower levels and finally closed at 5211 levels with a loss of 120 points.

The most important observation is that the index has registered a breakdown from its critical
support level of 5270 levels (as shown in the chart above).

This breakdown suggests that the index is likely to decline towards the level of 5100 - 5090 / 4970 /4800 levels in the near term.

Another key observation to be made is the oversold reading on short term indicators. Hence a
pullback from the current level cannot be ruled out.

Any up move from the current level is likely to face stiff resistance around the 5270-5330 (Negative Gap Resistance) followed by the 5400 levels.

MARKET OUTLOOK Nifty 05th August

The NIFTY opened on a positive note and registered an intraday high of 5434 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraday low of 5323. The NIFTY finally closed at 5331 with a loss of 73 points.

Index did witness some kind of bounce during the initial session, but failed to trade above its immediate resistance level of 5435.

The index continued its downward movement once it traded below the 5380 levels and has now closed at its important support range of 5340-5330. Sustenance below the 5330 level could see the index declining towards the level of 5270-5250 /5200 in the near term.

The immediate upside seems to be limited to the levels of 5380 /5435 levels, but a close above the 5435 levels might inject some optimism and a one could witness a bounce to levels of 5480 - 5500.

MARKET OUTLOOK Nifty 04th August

The Nifty opened the session on a bearish note on the back of negative cues from its global peers.

The index registered an intraday low of 5378 levels and thereafter traded in a narrow range for the rest of the session. The Nifty finally closed at 5404 levels with a loss of 51 points.

With today’s movement the NIFTY has managed to achieve our second downside targets of 5380 levels. Going forward the index could take a breather after registering a strong decline of more than 170 points in the last two sessions.

In case the nifty manages to hold on to support levels of 5380 expect a rebound to levels of 5435-5450 /5480 over the next few days.

The immediate support is placed at 5380 followed by the 5343-5330 (NIFTY Gap support area).

Sustenance below the 5330 would be negative and could trigger further declines to the level of 5270-5250 in the near term.

MARKET OUTLOOK Nifty 03rd August

The Nifty opened the session on a bearish note on the back of negative cues from its global peers. The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.

The index registered an intraday low of 5433 levels and finally closed the session at the 5456 levels with a loss of 60 points.

As discussed in the previous updates, we have consistently emphasized the importance of 5480 as a critical support for the index.

We had mentioned that a break below this level could start a fresh round of decline, which could take the index to 5435 / 5380 levels and the nifty did that.

With today’s movement the NIFTY has managed to achieve our first downside targets of 5435 levels. Incase NIFTY sustains below the 5435 levels then it could head to its next support level of 5380, below which the selling pressure could accentuate to levels of 5343-5330 (NIFTY Gap support area).

Any pullback from the current level is likely to face resistances at the 5480 /5520 levels.

MARKET OUTLOOK Nifty 02nd August

The NIFTY opened the session with a positive gap and registered an intraday high of 5551 levels. The index witnessed a sideways movement in the intraday session after a strong opening. The index eventually closed the day at 5516 levels with a gain of 34 points.

With today’s movement the index has registered a strong rebound from its support level of 5480 level. The nifty now needs to sustain above 5550, which would give some strength and a possible test of levels of 5600 -5630. In case the nifty fails to get past 5550, it would keep facing supply pressure and could re test the immediate support of 5480.

Sustenance below the 5480 would be negative for the NIFTY and this could trigger further declines to the level of 5435 /5380 in the near term.

MARKET OUTLOOK Nifty 01st August

The NIFTY opened the session on negative note and registered an intraday low of 5453 levels. However the buying returned at lower levels thus propelling the NIFTY past the 5500 mark.

But, the NIFTY witnessed selling pressure at the higher levels and eventually closed at 5482 levels with a nominal loss of 5 points.

Despite the volatility witnessed today the index has closed within its support range of 5495-5480 levels.

This is a very critical level (as it comes out as a support zone on multiple factors) and we believe that the chances of nifty holding out here are by far the best.

Sustenance below the 5480 level could see the index declining towards the level of 5435 /5380 in the near term.

The immediate upside seems to be limited to the levels of 5420 – 5545 levels, but a close above that might inject some optimist and a bounce to levels of 5600.

MARKET OUTLOOK Nifty 29th July

On the day of expiry the Nifty opened the session with a negative gap on the back of extremely

bearish cues from its global peers.

Thereafter the index traded in a narrow range for the rest of the session. The index registered an intraday low of 5475.65 levels and closed near to that level at 5487, a loss of 59 points.

The most important observation is that the nifty has closed at its important support range 5495-

5480 .

This is a very critical level (as it comes out as a support zone on multiple factors) and we believe that the chances of nifty holding out here are by far the best.

Sustenance below the 5480 level could see the index declining towards the level of 5435 /5380 in the near term.

The immediate upside seems to be limited to the negative gap place at the levels of 5412 – 5545

levels, but a close above that might inject some optimist and a bounce to levels of 5600.

MARKET OUTLOOK Nifty 28th July

The Nifty opened the session on a bearish note on the back of negative cues from its global peers.

The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.

The index registered an intraday low of 5521.50 levels and finally closed the session at the 5546.80 levels with a loss of 28 points.

With today’s movement the index has closed just below its rising trendline support placed at the
5550 levels.

Sustenance below the 5550 level could see the index testing its important support level of 5495-5480 levels.

In case the nifty closes below these levels, expect downward movement to gain momentum and index could decline to 5430 / 5380 levels.

On the upside if the nifty manages to hold on to support levels of 5550 or 5500 expect a rebound
to levels of 5600 /5650-5680 over the next few days.

MARKET OUTLOOK Nifty 27th July

The NIFTY opened the session with a positive bias and registered an intraday high of 5702.25
levels.

The NIFTY witnessed profit booking from the higher level which led it to decline to an intraday low of 5560.15 levels.The Nifty eventually closed at 5574.85 levels with a loss of 105.45 points.

The Index has witnessed a strong selling pressure across all sectors from levels close to important resistance of 5680-5700 and in the end the index registered a close below the important psychological level of 5600.

The index can find support between the 5550--5525 levels. In case the selling continues, the nifty could head to support levels of 5500 – 5440, belowwhich the selling pressure could accentuate to levels of 5347-5336 (NIFTY Gap support area).

In case the nifty manages to hold on to support levels of 5550 or 5500 expect a rebound to levels
of 5630 – 5680 over the next few days.

A close below the 5500 levels would see the index gaining momentum on the downside and could
test the levels of 5440 /5380.

MARKET OUTLOOK Nifty 26th July

The NIFTY opened on a tentative note and traded in a narrow range for the initial hours. The nifty recorded a low of 5616, before picking up strong momentum towards the end of the day. The nifty finally closed at 5680.30, after recording a high of 5700.

With today’s movement the index has given a breakout above its narrow trading range of 5540- 5650 levels. Going forward index is likely to test its recent swing high level of 5740 in the coming trading sessions, if it sustains above the 5650 level. Any pullback from the current levels is likely to garner support at the 5650 / 5610/ 5570 levels.

A close above the 5740 levels would see the index gaining momentum on the upside and could test the levels of 5850 /5900.

MARKET OUTLOOK Nifty 25th July

The nifty opened on a positive note and maintained its strength throughout the day.

The nifty registered a high of 5642.20 and closed very near to that level at 5633.95, a total

gain of 92 (1.67 %) points.

With today’s movement the index has registered a strong rebound from its support level of 5640 level.The index is now trading near to its resistance placed at 5650.

Once the index manages to close above this level, we expect the nifty to head towards 5700 and

further test it recent swing high levels of 5740.

In case the nifty fails to get past the resistance of 5650, it could be confined in the range of 5650 on the upside and 5540 on the on the down side.

The immediate support for the index is placed at 5610 followed by the 5570 /5540 levels.

MARKET OUTLOOK Nifty 22th July

The nifty opened on a negative note and remained under pressure throughout the day trade. The nifty registered a low of 5532 and closed very near to that level at 5541, a loss of 25 points.

The Index has given a close at its immediate support level of 5540 levels. Sustenance below this level could see the index decline to its crucial important support level of 5495-5480. In the past, the index has given strong reversal from the 5495 levels, so we believe that the chance of nifty holding out around these support levels are by far the best. But, a break below 5480 would be negative and trigger further declines to the level of 5430 / 5380 levels.

On the upside the index has multiple resistances at the levels of 5580 / 5605 / 5650.

MARKET OUTLOOK Nifty 21th July

The NIFTY opened the session on a positive note and registered an intraday high of 5645.40 levels. The NIFTY witnessed selling pressure from the higher level which led it to decline to an intraday low of 5555 levels. The Nifty eventually closed at 5567 levels with a loss of 46 points.

The index today witnessed selling pressure once it failed to sustain above the 5600 levels. However the index has managed to close above the immediate support level placed at 5550-5540 levels. In case the nifty trades below these levels, then it could decline to the levels of 5495 – 5480, below which the selling pressure could accentuate to levels of 5430-5400.

In case the nifty manages to hold on to support levels of 5550-5540 expect a rebound to levels of 5600 /5650 over the next few days.

MARKET OUTLOOK Nifty 20th July

The NIFTY opened on a tentative note and traded in a narrow range for most part of the day.The NIFTY recorded a low of 5557.20, before picking up strong momentum towards the end of the day.The nifty finally closed at 5613.55, after recording a high of 5627.

With Today’s movement the index has closed above the resistance level of 5600.Going forward the index is likely to head towards the levels of 5660 / 5700 /5740 in the coming trading sessions,if it sustains above the 5600 levels.

On the downside the index has immediate support at 5560 -5540 levels followed by the 5495- 5480 levels.A close below 5480 would be negative and trigger further declines to the level of 5430 / 5380 levels.

MARKET OUTLOOK Nifty 19th July

The NIFTY opened on a tentative note and traded in a narrow range throughout the day.The index witnessed a lackluster session with low volume participation. The nifty registered a low of 5550.95 and finally closed at 5567, with a loss of 14 points.

The Nifty is trading in a narrow range of 5540 on the downside and 5650 on the upside for the last few trading session. The immediate support to watch for the index are 5540 /5495-5480 levels.In case the nifty closes below 5480 level; it is likely to continue its downward movement and could test the levels of 5430-5415 / 5380.

On the upside the index needs to sustain above the 5600, which would give some strength and a possible re test of levels of 5660 or even 5700 /5740.

MARKET OUTLOOK Nifty 18th July

The SENSEX opened the week on a bearish note and the index plunged to an intraweek low of 18326.42.Thereafter, the SENSEX spent the entire week trading in a narrow range of 18400— 18800 levels.The SENSEX finally closed the week at the 18561.92 levels with a cut of 296 points.

Clearly the immediate level to watch on the SENSEX is that of 18306 (marked in the chart above).It should be noted that 18306 is also the 50% retracement level of the rise from 17482 to 19131; hence we believe that the chances of SENSEX holding out here are by far the best.As of now there is not much evidence to suggest that the SENSEX has the weakness to break below this level, though in case of such an event, look for the downside movement to gain momentum to the levels of 18130-18030.

On the upside the SENSEX needs to sustain above 18680, which would give some strength and a possible test of levels of 18990 – 19130. A close above the 19130 levels could give a good upside spurt with likely targets of 19400 /19650 levels in the short term.

MARKET OUTLOOK Nifty 14th July

The nifty opened on a positive note and maintained its strength throughout the day. The nifty registered a high of 5596.15 and closed very near to that level at 5585.45, a total gain of 59 points.

With today’s movement the index has registered a strong rebound from its support level of 5495 levels and in the process has filled up its negative gap placed at 5580-5600 levels. The nifty now needs to sustain above 5600, which would give some strength and a possible test of levels of 5660 or even 5700 /5740. In case the nifty fails to get past 5600, it would keep facing supply pressure and could re test the immediate support of 5540 /5495-5480 levels.

A break below 5480 would be negative and trigger further declines to the level of 5430 / 5380 levels.

MARKET OUTLOOK Nifty 13th July

The Nifty opened the session with a negative gap on the back of negative cues from its global peers. The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.The index registered an intraday low of 5496.95 levels and finally closed the session at the 5526.15 levels with a loss of 89 points.

In our previous updates we had discussed that the nifty could test levels of 5560 / 5515,once it closes below the important support level of 5600, and nifty did that thus meeting our downside targets.With today’s movement the index has closed near to its crucial support levels of 5495-5480 and hence a pullback from the current levels cannot be ruled out. Sustenance above the 5500 levels could see the index filling up its negative gap placed at 5580-5600 levels.

On the downside if the nifty closes below the 5480 levels;it is likely to continue its downward movement and could test the levels of 5430 / 5380.

MARKET OUTLOOK Nifty 12th July

The Nifty opened the session on a bearish note on the back of negative cues from its global peers.The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed. The index registered an intraday low of 5601.70 levels and finally closed the session at the 5616.10 levels with a loss of 44 points.

The nifty did witness supply today; however it has also managed to hold the support level of 5600.In case the nifty closes below 5600, expect a bit more of corrective decline to levels of 5560 /5515 levels.Declines if any to these levels should be used to initiate long positions and traders should keep a positive bias as long as the nifty remains above 5500 levels on a daily closing basis.

Sustenance above the 5600 levels could see the index retesting the levels of 5700 /5740(200DMA).

MARKET OUTLOOK Nifty 11th July

The NIFTY opened the session on a positive note and registered an intraday high of 5740.40 levels.The NIFTY witnessed profit booking from the higher level which led it to decline to an intraday low of 5651.05 levels.The Nifty eventually closed at 5660.65 levels with a loss of 68 points.

The Index today failed to trade above the 200 Day moving average and in the process has also closed below the breakout level placed at 5700-5720 levels.The index has immediate support at the 5630 levels (Short Term Moving average) followed by the 5600 levels.A close below the 5600 levels could see bit more of corrective decline to levels of 5560 /5515 level.

On the upside the index has multiple resistances at the 5700 /5741 levels (200 DMA). Sustainance above the 200 DMA will lead to a very bullish scenario and would infuse strong momentum on the upside to the levels of 5850 /5900.

MARKET OUTLOOK Nifty 8th July

The nifty opened on a positive note and maintained its strength throughout the day.The nifty registered a high of 5737.15 and closed very near to that level at 5728.95, a total gain of 103.50 (1.84 %) points.

With today’s movement the index has given a breakout above its declining trendline resistance placed at 5700-5720 levels. This breakout suggests that the index could advance to the levels of 5800 / 5850 /5900 levels in the coming trading session, if it sustain above the 5700 levels. Any pullback from the current levels is likely to garner support at the 5700 / 5670/ 5630 levels.

The Nifty is likely to gain further momentum once it trades above the 200 Day moving average placed at 5744 levels.

MARKET OUTLOOK Nifty 7th July

The NIFTY opened the session on a positive note and registered an intraday high of 5655.40 levels. The NIFTY witnessed selling pressure from the higher level which led it to decline to an intraday low of 5610.75 levels. The Nifty eventually closed at 5625.45 levels with a marginal loss of 6 points.

The index is consolidating in a narrow range of 5600-5700 levels for the last few trading session. With today’s movement the index has closed near to its immediate support level of 5600. Going forward if the index closes below this level, expect a bit more of corrective decline to levels of 5560 /5515 level. On the upside the index is likely to face resistance at the 5560 levels followed by the 5700-5710 level (declining trendline resistance).

MARKET OUTLOOK Nifty 6th July

The NIFTY opened on a tentative note and remained under pressure for most of the day’s trade. The nifty
hit a low of 5612.30, before picking up momentum towards the end of the day. The nifty finally closed at
5632.10 with a loss of 18 points.

The nifty did witness supply pressure today; however it has also managed to hold the support level of 5600. In case the nifty closes below 5600, expect a bit more of corrective decline to levels of 5560 /5515 levels. Declines if any to these levels should be used to initiate long positions and traders should keep a positive bias as long as the nifty remains above 5500 levels on a daily closing basis.

On the upside the index has immediate resistances at the 5700-5720 levels (declining trendline resistance).A close above these levels would see the index gaining momentum on the upside and could test the levels of 5850 /5900.

MARKET OUTLOOK Nifty 5th July

The NIFTY opened the session with a positive gap and registered an intraday high of 5679.65 levels. The NIFTY witnessed profit booking from the higher level which led it to decline to an intraday low of 5633.10 levels. The NIFTY eventually closed at 5650.50 levels with a gain of 23 points.

For the last two trading session index is witnessing profit booking near to the declining trend line resistance placed at the 5700-5720 levels. Going forward there is a possibility that the nifty might get a bit tentative or into some kind of consolidation in the range of 5700-5720 on the up side and 5500 on the downside before moving up further. The immediate supports for the index are placed at levels of 5600 /5560 /5515.

A close above 5720 levels would see the index gaining momentum on the upside and could test the levels of 5850 /5900.

NSE NIFTY (5,396.75)

The NIFTY opened the session with a positive gap and registered an intraday high of 5310 levels. The NIFTY witnessed selling pressure at the higher levels which led it to an intraday low of 5262 levels. The NIFTY eventually closed at 5278 with a nominal gain of 2 points.

The index seems to be consolidating in the narrow range of 5250-5325 levels for the last two trading sessions. As long as the index remains in this range we are going to witness choppy and volatile moves in the either direction. The index has immediate support at the 5250 levels and 5177 levels. A close below the 5177 levels would see the index gathering momentum on the downside and could test the levels of 5035 /4970 /4900 levels.

Upside resistances are placed at 5350 and 5420 levels.

NSE NIFTY (5,396.75)

The NIFTY opened the session on a bearish note on the back of extremely negative cues from its global peers.

The NIFTY spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.

The NIFTY registered an intraday low of 5389.80 levels during the final hours of the day’s trade and finally closed the session at the 5396.75 levels with a loss of 51 points.

The NIFTY has corrected over 100 points over the last two sessions of trade.

The sell off witnessed over the previous two sessions has finally taken the index below the broad
trading range of 5400—5550 levels.

The NIFTY can now slip towards the 5300—5250 levels over the upcoming sessions if it trades below the 5425—5450 levels.

Pullbacks from current levels will face stiff resistances between the 5450—5480 levels.


We booked part profits on our long call given on Apollo Tyres Ltd @ 77 levels. (Initiated @75 levels).

The recommendation has already fetched a smart gain of Rs 8000/- per lot to the
subscribers of our product Trading calls section.

We continue to hold our short positions for downside targets of Rs 80 levels.

We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.

NSE NIFTY (5,447.50)

The NIFTY opened the session on a flat note but the index moved southwards as the session progressed.

Selling pressure amongst key index heavyweights like SAIL, DLF, Axis Bank, Wipro and R Power dragged the NIFTY to an intraday low of 5438.95 levels.

The NIFTY finally closed the session at the 5447.50 levels with a loss of 53 points.

The NIFTY traded under pressure during the entire trading session.

With the cuts witnessed during yesterday’s session the NIFTY is now back to its key support zone of 5450—5425 levels.

A close below the 5425 levels will open up downside targets of 5300—5250 levels in the NIFTY.

The NIFTY has also registered a close below its key moving average clusters.

Hence, any upsides from current levels will find resistance between the 5500—5530 levels.

We booked part profits on our Short call given on Hindalco Ltd @175.50 levels. (Initiated @180.50 levels).

The recommendation has already fetched a smart gain of Rs 9700/- per lot to thesubscribers of our product Trading calls section.

We continue to hold our short positions for downside targets of Rs 168 levels.

We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.

NSE NIFTY (5,500.50)

The NIFTY opened the session with nominal gains and remained range bound throughout the day’s trade.

The 5520—5490 was the narrow trading range for the NIFTY during yesterday’s session.

The NIFTY registered an intraday low of 5484.20 levels.

The NIFTY finally closed the session at the 5500.50 levels with a nominal gain of 18 points.

It was another flat and lack lustre session of trade wherein the NIFTY traded within a narrow range of 5520—5490 levels for the entire session.

We maintain that the NIFTY would remain within the broad trading range of 5450—5600 levels if the NIFTY holds on to the support levels of 5425—5450 levels.

A bearish view can be taken only if the NIFTY closes below the 5425 levels on the downside.

The key moving average clusters placed between the 5520—5550 levels will act as stiff resistance for the NIFTY on the upside.

We booked full profits on our intraday Short call given on Hindalco Ltd @ 178.65 levels. (Initiated @180.35 levels).

The recommendation fetched an intraday gain of Rs 3400/- per lot to the subscribers of our roduct Intraday calls section.

We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday calls.

NSE NIFTY (5,482.80)

The NIFTY opened the session on a bearish note on the backof weak cues from its global peers.

The NIFTY spent theearly part of the day’s trade in the negative territory but started to recover from its day’s low as the sessionprogressed.

The NIFTY finally recovered all of its intraday losses by the end of the trading session and finally closed at the 5482.80 levels and remained unchanged as compared to the previous session.

The NIFTY once again bounced back from its support levels of 5450—5425 levels during esterday’s session.

But, we reiterate that a close below the 5425 levels would lead to extremely bearish outlook on the markets.

The 5300—5250 levels would be the downside targets on the NIFTY, if the index breaks below the 5425 levels.

On the other hand, the NIFTY would remain within the broad trading range of 5450—5600 levels if the NIFTY holds on to the support levels of 5450—5425 levels.

The near term andshort term moving average clusters placed between the 5520—5560 levels will act as stiff resistance for the NIFTY onthe upside.

We booked full profits on our intraday long call given NIFTY Spot @ 5478 levels. (Initiated @5451 levels).

Therecommendation fetched a fabulous intraday gain of Rs 13500/-(assuming 500 quantity traded) to the subscribers of ourproduct NIFTY calls section.

We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.

NSE NIFTY (5,485.80)

The NIFTY opened the session on a flat note and remained range bound for the initial hours of the day’s trade.

Thereafter, selling pressure amongst key index heavyweights like DLF, L&T, SAIL and Tata Steel dragged the NIFTY below the early morning range and the index registered an intraday low of 5,457.45 levels.

The NIFTY finally closed the session at the 5,485.80 levels with a loss of
35.25 points.

The NIFTY closed the final session of the week’s trade on a negative note. The cut witnessed during the previous session of trade has dragged the NIFTY towards the lower end of the broad trading range of 5450—5600 levels.

The 5430—5450 zones will be the near term support for the NIFTY.
On the upside we expect the levels of 5575--5600 levels to act as stiff resistance zones.

A rally towards the 5700—5750 levels can be seen only if the NIFTY registers a close above the 5600 levels.

Conversely if NIFTY fails to take support between the 5450-5430 levels and starts to trade below the same, we would recommend a negative bias once again with possible targets
of 5300 – 5250 levels.

We booked full profits on our intraday long call given NIFTY June Spot @ 5540 levels. (Initiated @5514 levels).

The recommendation fetched a fabulous intraday gain of Rs 13000/- (assuming 500 quantity traded) to the subscribers of our product NIFTY calls section.

We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.

NSE NIFTY (5,521.05)

The NIFTY opened the session on a flat note and traded in a very sedate and lethargic note throughout the day’s trade.

The 5505—5535 levels were the narrow trading range for the NIFTY for the entire trading session.

The NIFTY finally closed the session at the 5,521.05 levels with a loss of 5.80 points and remained unchanged as compared to the previous session.

The NIFTY went through another day of trade wherein it traded on a very flat and sedate note. The index is still grinding and consolidating within the broad range of 5450—5600 levels.

This battle between the bulls and the bears is likely to continue unless the NIFTY breaks the 5600 levels on the upside or conversely breaks below the 5450 levels on the downside.

The 5450 levels will be the key near term support for the NIFTY on the downside.
Upside resistances are placed at the 5600—5625 levels.


We booked full profits on our intraday long call given NIFTY June Spot @ 5540 levels. (Initiated @5514 levels).

The recommendation fetched a fabulous intraday gain of Rs 13000/- (assuming 500 quantity traded) to the subscribers of our product NIFTY calls section.

We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.

NSE NIFTY (5,521.05)

The NIFTY opened the session on a flat note and traded in a very sedate and lethargic note throughout the day’s trade.

The 5505—5535 levels were the narrow trading range for the NIFTY for the entire trading session.
The NIFTY finally closed the session at the 5,521.05 levels with a loss of 5.80 points and remained unchanged as compared to the previous session.

The NIFTY went through another day of trade wherein it traded on a very flat and sedate note. The index is still grinding and consolidating within the broad range of 5450—5600 levels.

This battle between the bulls and the bears is likely to continue unless the NIFTY breaks the 5600 levels on the upside or conversely breaks below the 5450 levels on the downside.

The 5450 levels will be the key near term support for the NIFTY on the downside. Upside esistances are placed at the 5600—5625 levels.


We booked full profits on our intraday long call given NIFTY June Spot @ 5540 levels. (Initiated @5514 levels).

The recommendation fetched a fabulous intraday gain of Rs 13000/- (assuming 500 quantity traded) to the subscribers of our product NIFTY calls section.

We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.

NSE NIFTY (5,526.85

The NIFTY opened the session on a negative note remained in the negative territory throughout the trading session. Selling pressure increased as the session progressed and the NIFTY registered a low of 5514.90 levels. The NIFTY finally closed the session at the 5,526.85 levels with a cut of 29.30 points.

The NIFTY witnessed a pullback from the 5550 levels during yesterday’s session. The NIFTY is still trading in a broad range of 5600—5450 levels and is likely to remain within this range, until it breaks above the 5600 levels and registers a close above the same during the upcoming sessions.

Pullbacks from current levels will find good support between the 5450—5475 levels. On the upside, the 5600—5625 levels would be the stiff resistance zone for the NIFTY.

We booked full profits on our intraday long call given Dish TV Ltd @ 80.70 levels. (Initiated @79.70 levels). The recommendation fetched a fabulous intraday gain of Rs 4000/- per lot to the subscribers of our product Intraday calls section.

We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday calls.

We booked full profits on our intraday long call given Punj Lloyd Ltd @ 66.00 levels. (Initiated @64.45 levels). The recommendation fetched a fabulous intraday gain of Rs 3100/- per lot to the subscribers of our product Intraday calls section.

We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday calls.

NSE NIFTY (5,556.15)

The NIFTY opened the session on a flat note and the index gradually moved upwards as the session progressed. Smart gains amongst key index heavyweights like Reliance Ind, Tata steel, Cipla and Infosys propelled the NIFTY to an intraday high of 5570 levels. The NIFTY finally closed the session at the 5,556.15 levels with a smart gain of 24.10 points.

The NIFTY added on to the gains witnessed during the previous session of trade. We reiterate that, the 5450—5625 levels will be the broad trading range for the NIFTY, until it crosses the 5625 levels and registers a close above the same during the upcoming sessions.

The near term and short term moving average clusters placed between the 5500—5450 levels will act as good support for the NIFTY on the downside. The 5600—5625 levels would be the near term upside targets for the NIFTY, if it sustains above the 5500 levels.

We booked full profits on our BTST call given on SUN TV Ltd @ 315.50 levels. (Initiated @307 levels). The recommendation fetched a smart return of Rs 4250/- per lot to the subscribers of
our product BTST/STBT calls section.

We recommend subscribing to our product BTST/STBT Calls section to avail such profitable BTST/STBT calls.

NSE NIFTY (5,532.05)

The NIFTY opened the session on a bearish note but the index recovered its early morning losses as the session progressed. The NIFTY gave a smart recovery from its day’s low to register an intraday high of 5542.65 levels. The NIFTY finally closed the session at the 5532.05 levels with a gain of 15.30 points.

The NIFTY held on to it’s near term support levels of 5450 levels and gave a smart recovery from the above mentioned support level to close at the 5532 levels. Sustenance above the 5450—5480 zones will see the NIFTY gradually rally to once again test its key resistance zones of 5600—5625 levels on the upside.

Upsides towards the 5700—5750 levels can be seen only if the NIFTY registers a close above its key resistance zone mentioned above. Conversely, the 5600—5400 levels will be the broad trading range for the NIFTY, if it fails to cross the above mentioned supply zones.

We booked part profits on our long call given on UFLEX Ltd @ 210.80 levels. (Initiated @203.50 levels). The recommendation has already fetched a smart return of 3.60% to the subscribers of our product Trading calls section. We continue to hold our long positions for targets of Rs 215 levels.

We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

NSE NIFTY (5,516.75)

The NIFTY opened the session on a positive note and traded with smart gains for the initial hours of the day’s trade. The NIFTY hit an intraday high of 5605 levels. But the NIFTY couldn’t sustain at higher levels as the session progressed and selling pressure at higher levels dragged the NIFTY to an intraday low of 5507 levels. The NIFTY lost close to 98 points from its day’s high. The index finally closed the session at the 5,516.75 levels with a loss of 33.60 points.
The NIFTY closed the last trading session of the week on a negative note. The key observation to be made is that after the formation of the bullish hammer candlestick pattern during the previous week, the NIFTY has managed to close above the lower boundary of the rising channel as shown in the adjoining (Chart II).

The correction witnessed over the past two trading session could halt and take support between the 5450—5500 levels. On the upside we expect the levels of 5575--5625 levels to act as stiff resistance.

However in case the NIFTY fails to take support at the 5450 levels and starts to trade below 5435 – 5415 levels, we would recommend a negative bias once again with possible targets of 5300 – 5250 levels.

We booked part profits on our long call given on L&T Ltd @ 1704 levels. (Initiated @1654 levels). The recommendation
has already fetched a smart gain of `6250/- per lot to the subscribers of our product Trading calls section. We continue to hold our long positions for targets of `1740levels.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

NSE NIFTY (5,550.35)

The NIFTY opened the session with a gap down on the back of extremely negative cues from its global peers. The NIFTY plunged to an intraday low of 5522 levels during the early hours of the day’s trade. But the NIFTY gradually recovered from its day’s low as the session progressed. The NIFTY finally closed the session at the 5550 levels with cut of 41.65 points. 

As we had been pointing out in our previous few daily trading notes the NIFTY pulled back from the 5600 levels during yesterday’s session. Sustenance below the 5600 levels will see the NIFTY pullback further towards the 5500—5450 levels. But, the 5400 to 5600 levels are likely to remain the broad trading range for the NIFTY over the upcoming few sessions of trade.  The near term moving average placed at the 5500 levels will act as good near term support for the NIFTY, whereas the 5600—5630 zone will act as stiff resistance for the NIFTY. 

We booked part profits on our long call given on ITC Ltd @ 196.70 levels. (Initiated @192.30 levels). The
recommendation has already fetched a smart gain of `8800/- per lot to the subscribers of our product Trading calls section.

We continue to hold our long positions for targets of `202 levels.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

We booked full profits on our Intraday long call given on SAIL Ltd @ 148.95 levels. (Initiated @ 146 levels). The recommendation fetched a smart intraday profit of `2950/- per lot to the subscribers of our product Intraday calls section. 
 
We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday Trading strategies.