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.