Due to overall sideways (range bound) momentum in the recent session there is hardly any change in the price structure of Nifty spot. Thus we reiterate our view that although the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions. Only a sustainable move above the same might pull the index towards the higher levels of 11250 – 11400.
On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. With regards to NIFTY BANK index, we are witnessing a fresh breakout which indicates that the index is poised to retest its all-time high of 28389. The immediate support for NIFTY BANK is at 27450 mark.
Posted by Mehul Kothari | Published on 15-MAR-2019
NIFTY TREND TRACKER
MARKET OUTLOOK
In our weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that in the past couple of sessions although the benchmark rallied about 2% but at the same time strong action was observed in broader markets. Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions.
A sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. Traders are advised to continue with their stock specific approach and follow strict stop loss in case of positional longs.Disclaimer
In our weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that in the past couple of sessions although the benchmark rallied about 2% but at the same time strong action was observed in broader markets. Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions.
A sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. Traders are advised to continue with their stock specific approach and follow strict stop loss in case of positional longs.)
Posted by Mehul Kothari | Published on 18-MAR-2019
Market Outlook
In our previous weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that during the week went by the benchmarks rallied about 1.6% but at the same time strong action was observed in broader markets (NIFTY 500 surged around 2% during the same time span.
Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. Once again the landmark of 11100 is likely to strong resistance in the coming week. Only a sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10800 might act as a short term support. A move below the same might dwell the ongoing momentum for the time being. With regards to NIFTY BANK index, we are witnessing a fresh breakout which indicates that the index is poised to retest its all-time high of 28389. The immediate support for NIFTY BANK is at 27450 mark.Disclaimer)
Share Market Today - 8th March 2019
Market Outlook
Due to overall sideways (range bound) momentum in the recent session there is hardly any change in the price structure of Nifty spot. Thus we reiterate our view that although the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions. Only a sustainable move above the same might pull the index towards the higher levels of 11250 – 11400.
On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. With regards to NIFTY BANK index, we are witnessing a fresh breakout which indicates that the index is poised to retest its all-time high of 28389. The immediate support for NIFTY BANK is at 27450 mark.
Disclaimer
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Share Market Today - 7th March 2019
NIFTY TREND TRACKER MARKET OUTLOOK In our weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that in the past couple of sessions although the benchmark rallied about 2% but at the same time strong action was observed in broader markets. Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions. A sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. Traders are advised to continue with their stock specific approach and follow strict stop loss in case of positional longs.Disclaimer In our weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that in the past couple of sessions although the benchmark rallied about 2% but at the same time strong action was observed in broader markets. Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. The mentioned level is likely to act as strong resistance in the coming sessions. A sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10980 might act as an intermediate support. A move below the same might dwell the ongoing momentum for the time being. Traders are advised to continue with their stock specific approach and follow strict stop loss in case of positional longs.)
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Weekly BSE & NSE Gainers & Losers - 4th Mar to 8th Mar 2019.
Market Outlook In our previous weekly edition, we stated that ‘till the time Nifty trades above 10580 the bias remains positive and individual stocks might continue to outperform.’ In line with that, we witnessed that during the week went by the benchmarks rallied about 1.6% but at the same time strong action was observed in broader markets (NIFTY 500 surged around 2% during the same time span. Now at this juncture, the index has surpassed 11000 mark but it’s trading near the previous swing high of 11118. Once again the landmark of 11100 is likely to strong resistance in the coming week. Only a sustainable move above the same might pull the index towards the higher levels of 11250 – 11400. On the downside 10800 might act as a short term support. A move below the same might dwell the ongoing momentum for the time being. With regards to NIFTY BANK index, we are witnessing a fresh breakout which indicates that the index is poised to retest its all-time high of 28389. The immediate support for NIFTY BANK is at 27450 mark.Disclaimer)