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.