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.