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.
Posted by Mehul Kothari | Published on 18-MAR-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)
Posted by Mehul Kothari | Published on 18-MAR-2019
Market Outlook
Finally, during yesterday’s session the index Nifty managed to clear the hurdle of 11100 with an ease and closed well above the same. This indicates strength and hence we reiterate our view that index is now poised to retest 11200 – 11384 level. In addition, we have been stating in our previous reports that Nifty Bank index is all prepared to reach its all – time high of 28389. Post yesterday’s session, Nifty Bank is just a percent away from that milestone.
On the downside 11000 might act as a strong support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. We maintain our positive stance for the markets and advise traders to continue with their stock centric approach till the time the index is above 11K mark.Disclaimer)
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
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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 - 12th March 2019
Market Outlook Finally, during yesterday’s session the index Nifty managed to clear the hurdle of 11100 with an ease and closed well above the same. This indicates strength and hence we reiterate our view that index is now poised to retest 11200 – 11384 level. In addition, we have been stating in our previous reports that Nifty Bank index is all prepared to reach its all – time high of 28389. Post yesterday’s session, Nifty Bank is just a percent away from that milestone. On the downside 11000 might act as a strong support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. We maintain our positive stance for the markets and advise traders to continue with their stock centric approach till the time the index is above 11K mark.Disclaimer)