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Market View: Charts are turning stronger. Will the April turnout to be Bullish month ?Last week, markets started on a weak note with hardly three trading sessions. The monthly expiry remained little bumpy, after a dull start; market rallied sharply and during the fa*g end gave away its gain to settle the expiry day on the strong note on the weekly chats. On the weekend, all the major indices have formed a strong Bullish candle on the weekly charts. While on the monthly charts, All the indices have made an Indecisive candle with a gain between 1.5% to 2% indicating a strong close. The prices have crossed all short-term moving averages suggesting that the undercurrent of the markets is very strong and the larger degree trend is still intact. Nifty and Sensex have almost challenged their life highs while Banknifty is about to challenge its life highs. Technically, Nifty is hovering in an Expanding triangle , Banknifty has just witnessed a Falling channel breakout and Sensex is on the verge of a Rising channel breakout. However, all the three indices are about to open up a new trajectory in the coming days. Hence one needs to be prepared for a strong rally from the current levels and that might last for the month to come. On the upside, the trend deciding levels are 22525 and 47500 in Nifty and Banknifty; if these are taken out decisively then indices will enter the unchartable territories. Whereas, on the down side crucial support is placed at 22000 and 46646 respectively. Next week we might witness some pullback with higher volatility and that dips should be used as a buying opportunity. So, I continue to suggest traders to use the first half hour or 45 minutes range breakout strategy for intraday trades on the indices. The momentum indicator RSI is positive on the Nifty, Banknifty and Sensex daily charts. For Derivative/option traders, slight PEs writing was seen in Nifty & slight CEs writing was seen in Banknifty. One should wait for some dip before initiating longs. Nifty supports: 22204-22096-21947Nifty Resistance: 22446-22526-22666Banknifty supports: 46827-46643-46310Banknifty Resistance: 47440-47812-48161#Stockmarketnews #StockMarketindia #stockmarkets #stocks

Market kya lagta hain – Thursday, January 4th 2024# GIFT Nifty (+33, 21622)Pessimism is now the new normal for benchmark Nifty.The first three trading days have been something of a rout for equity investors, but we suspect it's far too soon to panic.# Overnight, it was another down day for the Wall Street as technology stocks retreated hard.# This Thursday morning, ‘Equity Bulls’ are on backfoot —as bets in favour of early rate cuts by the Fed has dropped slightly.# The yield on the benchmark 10-year US Treasury note has spiked to 4% amid this backdrop. The dollar too has inched higher to 102.63 levels. WTI Cride Oil prices rebounded to $72.5 a barrel.# Well, the new year gets tough on Dalal Street, as in last three days trading, Nifty witnessed nervousness amidst a wave of profit taking. # Well, if the last three days trading action at Dalal Street be described with one word, that would be "volatility".# Strictly speaking, Nifty are bears seen taking advantage of technical overbought conditions.# Outlook for Wednesday: The 4th session of 2024 has little in the way of fireworks.# The biggest headwind: Anxiety prevails ahead of weak earnings outlook from IT stocks. TCS & INFY officially set afire the ceremonial starters pistol for Q3 earning season on January 11th. # The Nifty options data suggests Nifty is likely to be in a trading range of 21300-22300 zone. Maximum Call OI is at 22000 followed by 21700 strike prices. So, the 22000 mark will be Nifty’s crucial resistance zone. Maximum Put open interest stands at 21500 levels followed by 21000 levels. Call writing was seen at 21600 and then at 22000 strike price, while there was meaningful Put writing at 21400 and then at 21500 strike prices.# From a technical perspective, Nifty’s immediate upside hurdes are at 21717 mark. # The line in the sand is at Nifty’s make-or-break support at 21307 mark.# Meanwhile, Bank Nifty’s major intraday support seen at46919 mark.

*Market kya lagta hain – Thursday, January 4th 2024*# *GIFT Nifty (+33, 21622)**Pessimism is now the new normal for benchmark Nifty.**The first three trading days have been something of a rout for equity investors, but we suspect it's far too soon to panic.*# Overnight, it was another down day for the Wall Street as technology stocks retreated hard.# This Thursday morning, ‘Equity Bulls’ are on backfoot — as bets in favour of early rate cuts by the Fed has dropped slightly.# The yield on the benchmark 10-year US Treasury note has spiked to 4% amid this backdrop. The dollar too has inched higher to 102.63 levels. WTI Cride Oil prices rebounded to $72.5 a barrel.# Well, the new year gets tough on Dalal Street, as in last three days trading, Nifty witnessed nervousness amidst a wave of profit taking. # Well, if the last three days trading action at Dalal Street be described with one word, that would be "volatility".# Strictly speaking, Nifty are bears seen taking advantage of technical overbought conditions.# Outlook for Wednesday: The 4th session of 2024 has little in the way of fireworks.# The biggest headwind: Anxiety prevails ahead of weak earnings outlook from IT stocks. TCS & INFY officially set afire the ceremonial starters pistol for Q3 earning season on January 11th. # The Nifty options data suggests Nifty is likely to be in a trading range of 21300-22300 zone. Maximum Call OI is at 22000 followed by 21700 strike prices. So, the 22000 mark will be Nifty’s crucial resistance zone. Maximum Put open interest stands at 21500 levels followed by 21000 levels. Call writing was seen at 21600 and then at 22000 strike price, while there was meaningful Put writing at 21400 and then at 21500 strike prices.# From a technical perspective, Nifty’s immediate upside hurdes are at 21717 mark. # The line in the sand is at Nifty’s make-or-break support at 21307 mark.# Meanwhile, Bank Nifty’s major intraday support seen at 46919 mark.

The market is expected to take support at 19,600, which somewhat coincides with the 50-day EMA (exponential moving average) in coming sessions as breaking of the same can trigger major correction, while the 19,800-19,850 area is likely to be critical for march upwards towards 19,900-20,000 levels, experts said.On October 13, the market managed to cut down losses by more than 100 points on the Nifty50 and settled off day's low, holding the 19,750 on closing and taking support at 19,600 intraday.The BSE Sensex declined 126 points to 66,283, while the Nifty50 fell 43 points to close at 19,751, and formed bullish candlestick pattern on the daily charts.The bulls were able to protect the level of 19,600 during the day on last Friday, thanks to the strong open interest (OI) build-up at the 19,600 strike price by Put writers. The strength may continue as long as the index remains above 19,600.He feels only a decisive fall below 19,600 might trigger serious long unwinding in the market, till then a buy on dips strategy will favour the market.On the higher end, the resistance is visible at 19,850, and above 19,850, the index might move towards 20,000, he said.The broader markets also ended moderately lower with the Nifty Midcap 100 and Smallcap 100 indices declining 0.1 percent and 0.4 percent respectively, while the volatility index, VIX, ended flat at 10.62 levels.#equitymarket #nifty50 #trading #investing #finance #sensex

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Nifty Weekly Expiry AnalysisBetween the last expiry and today, Nifty50 has gained 359pts ~ 1.85% and broken 2 important resistance levels. We almost took out the 19776 resistance today but for a strong red candle @ 14.15.Nifty Today AnalysisRecap from yesterday: “On the 1hr chart, the next target to break will be 19776 which is just 100pts away. Something that is easily possible if SPX holds its ground today. Since most of the market participants are long-only, any upsurge will sweep in more market participants.”Nifty opened inline and then was steaming ahead, As we discussed yesterday it took out the 19776 with so much ease. The 3 5mts candles between 11.00 to 11.10 showed how the momentum picked up right before the resistance zone which kind of indicated that the rally was not going to slow down. By 13.55 we picked up more pace, quite visible by the FII participation on the BUY side. We hit an intraday high of 19875 by 14.45 and then something unplanned happened. We dropped 153pts in the 25 minutes, we will explain that in detail during the BankNifty Analysis below.On the 1hr chart, we closed slightly below 19776, the 14.15 hourly candle is well-lit like a beacon. I am still continuing my bullish stance in the hopes that 19776 will get taken out during the forenoon session tomorrow. If not, I will be changing my stance to neutral and will update it via tradingview minds.

Market kya lagta hain – Thursday, October 5th 2023# GIFT Nifty (+9, 19492)There is a bright chance that Nifty could enjoy some respite this Thursday, as sentiments are benefiting from:1)A halt in the selloff of US Treasury instruments.2)WTI crude futures have fallen 4% to $85.5 per barrel, the lowest in three weeks weighed down by a weakening demand outlook.But we suspect, any upside likely to be capped at Nifty’s biggest hurdles at 19666 mark.Nifty’s upside is likely to be capped as adding to the gloom are the 2-negative catalysts on the front pages:1)‘Dow has turned ‘Negative for the Year’2)FIIs selling. The FIIs camp in the month of September had sold to the tune of Rs 26,692 crores. In the week gone by, FIIs selling was seen to the tune of Rs. 8,431 crores. In last two trading session, FIIs have already sold to the tune of Rs. 6,458 crores.# Nifty’s technical picture too suggests bears will be in the drivers ‘seat with aggressive targets at 19221 mark (low as on 31st August 2023).That’s because, Nifty broke beneath the rising trendline from March 2023.Bank Nifty is on verge of breaking down beneath the rising trendline from June 2022 for the first time…# The Nifty options data suggests Nifty is likely to be in a trading range of 19400-20000 zone. Maximum Call OI is at 19600 followed by 19500 strike prices. So, the 19700 mark is still Nifty’s crucial resistance zone. Maximum Put open interest stands at 19400 levels followed by 19300 levels. Call writing was seen at 19500 and then at 19400 strike price, while there was meaningful Put writing at 19400 and then at 19300 strike prices.# The Volatility index is hovering at 11.65 level.# The two big catalysts to watch from here-on:1)The RBI’s MPC meeting scheduled for October 4-6, 2023.2)Investors will look forward to Friday’s jobs report for September to be wired on October 6th.

𝗧𝗵𝗲 𝗦&𝗣 𝟱𝟬𝟬 𝗶𝘀 𝗻𝗼𝘄 𝘂𝗽 𝟰𝟬𝟬 𝗽𝗼𝗶𝗻𝘁𝘀 𝘀𝗶𝗻𝗰𝗲 𝗶𝘁𝘀 𝗹𝗼𝘄 𝗹𝗲𝘀𝘀 𝘁𝗵𝗮𝗻 𝟯 𝘄𝗲𝗲𝗸𝘀 𝗮𝗴𝗼, 𝗼𝗻 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟳𝘁𝗵.That's a +10% move in just 11 trading days with today's CPI report sending the S&P 500 to 4500. The Nasdaq is now up 13% from its October lows and just 6% away from a new all time high. Markets have shifted to expecting 4 interest rate CUTS in 2024. #Treasury yields are down sharply and widespread short covering continues in #stocks.

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*Market kya lagta hain – Thursday, November 23rd 2023*# *GIFT Nifty (-11, 19887)*# Gift Nifty is flirting with dotted lines but our call of the day suggests Nifty is likely to print strong gains.# The 2-big positive catalysts:1)WTI Oil prices tumble 4% to $74.50 a barrel as OPEC+ meeting has been delayed amidst infighting over output data.2)Overnight, Wall Street rose smartly higher despite hawkish November FOMC minutes.# Technically speaking, bulls will aim to declare victory as the benchmark Nifty is on verge of closing above its biggest hurdles at 19,889.# Please note, if Nifty moves above the 19889 mark then it’s safe to assume that Christmas has come early to Dalal Street and stock markets across the globe.# From a technical perspective, for the day, any corrective declines to Nifty 19681 are likely to find decent support.# The Nifty options data suggests Nifty is likely to be in a trading range of 19300-19800 zone. Maximum Call OI is at 19800 followed by 20000 strike prices. So, the 20000 mark is still Nifty’s crucial resistance zone. Maximum Put open interest stands at 19800 levels followed by 19500 levels. Call writing was seen at 20000 and then at 19900 strike price, while there was meaningful Put writing at 19500 and then at 19300 strike prices.# The Volatility index is hovering at 11.86 level.# Meanwhile, our stock markets are likely to thin out for remainder of week amidst Thanksgiving holidays in the US.Pease note, Wall Street will be shut on Thursday on account of Thanksgiving Day. Also, US markets will be a half day on Friday.# Our Indian stock markets will be closed on Monday 27th November because of Guru Nanak Jayanti.

GBP/USD seems to have hit a ceiling at the 1.2660 (R1) resistance line yesterday. Given that cable’s price action has broken the upward trendline guiding the pair since the 2nd of May and the RSI indicator below our 4-hour chart has dropped, nearing the reading of 50, implying a rather indecisive market, we switch our bullish outlook in favour of a sideways movement bias initially. Should the pair find fresh buying orders along its path, we may see the pair breaking the 1.2860 (R1) resistance line and aim for the 1.2865 (R2) resistance level. Should a selling interest be expressed by the market, we may see the pair aiming if not breaking the 1.2465 (S1) support line. AUD/USD edged higher yesterday testing the 0.6790 (R1) resistance line yet proved unable to clearly break it. The pair seems to be in a make-or-break position as its price action is about to test the upward trendline guiding it since the 4th of May. The RSI indicator seems to remain below yet near the reading of 70, implying that there is still a residue of bullishness in the market sentiment. Should the pair’s price action be able to remain above the prementioned upward trendline we will maintain our bullish outlook. Should the bulls actually maintain control over the pair, we may see AUD/USD breaking the 0.6790 (R1) resistance line and aim for the 0.6865 (R2) resistance level. Should the bears take over, we may see the pair breaking the prementioned upward trendline in a signal of an interruption of the pair’s upward movement and continue lower to breach the 0.6700 (S1) support line, aiming for lower grounds.

*Market kya lagta hain – Thursday, October 5th 2023*# *GIFT Nifty (+9, 19492)*There is a bright chance that Nifty could enjoy some respite this Thursday, as sentiments are benefiting from:1)A halt in the selloff of US Treasury instruments.2)WTI crude futures have fallen 4% to $85.5 per barrel, the lowest in three weeks weighed down by a weakening demand outlook.But we suspect, any upside likely to be capped at Nifty’s biggest hurdles at 19666 mark.Nifty’s upside is likely to be capped as adding to the gloom are the 2-negative catalysts on the front pages:1)‘Dow has turned ‘Negative for the Year’2)FIIs selling. The FIIs camp in the month of September had sold to the tune of Rs 26,692 crores. In the week gone by, FIIs selling was seen to the tune of Rs. 8,431 crores. In last two trading session, FIIs have already sold to the tune of Rs. 6,458 crores.# Nifty’s technical picture too suggests bears will be in the drivers ‘seat with aggressive targets at 19221 mark (low as on 31st August 2023).That’s because, Nifty broke beneath the rising trendline from March 2023.Bank Nifty is on verge of breaking down beneath the rising trendline from June 2022 for the first time…# The Nifty options data suggests Nifty is likely to be in a trading range of 19400-20000 zone. Maximum Call OI is at 19600 followed by 19500 strike prices. So, the 19700 mark is still Nifty’s crucial resistance zone. Maximum Put open interest stands at 19400 levels followed by 19300 levels. Call writing was seen at 19500 and then at 19400 strike price, while there was meaningful Put writing at 19400 and then at 19300 strike prices.# The Volatility index is hovering at 11.65 level.# The two big catalysts to watch from here-on:1)The RBI’s MPC meeting scheduled for October 4-6, 2023.2)Investors will look forward to Friday’s jobs report for September to be wired on October 6th.