NIFTY OUTLOOK - Market Updates Today 07 Nov 2012

The Nifty continued to trade in the narrow range of 5,680 to 5,710 for most of the session however in the last hour of trade we got a positive up move with the Nifty closing at the high of the day at 5,724. I still hold a positive bias on the market and am holding on to my Bank Nifty longs for the last 3 days expecting an upward breakout. We could see levels of 5,800 maybe even 5,900 if 5,730 is taken out with force.   

Markets are expected to open on flat note in today session but will see buying support at lower levels. Overall markets are stuck in broad range of 5,580-5,780 and any breakout of this range on either side will further set the direction of the indices.

The Sensex has supports at 18,750 and 18,620 and resistances at 18,910 and 19,050. The Nifty spot has supports at 5,690 and 5,665 and resistances at 5,750 and 5,780.

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NIFTY OUTLOOK - Market Updates Today 06 Nov 2012

The Nifty traded in a narrow 25 point band; it just about held on to the 5,680 level I had recommended placing a stop loss on for newly initiated long trades on the Nifty. I am still holding on to my Bank Nifty longs expecting an upward breakout in the days to come. We could see levels of 5,800 if 5,730 is taken out with force.   

Nifty Future remained within a narrow trading band of 5,700-5,760 and ended at 5,739.55 with a hanging man candle. It again rebounded from day low of 5,710 level, which means buyers have faith in on-going market trend. However, traders are advised to take cautious stance as it is at intermediate resistance near 5,750. 

The Sensex has supports at 18,680 and 18,590 and resistances at 18,820 and 18,890. The Nifty spot has supports at 5,675 and 5,650 and resistances at 5,730 and 5,750.

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NIFTY OUTLOOK - Market Updates Today 02 Nov 2012

The Nifty traded sideways at the beginning of the session and then slowly grinded higher. Nifty Future closed with a positive note at 5,676 with a white candle. Again, it closed between long trading ranges of 5,635-5,755. After breakdown from the previous range, it made a new intermediate low near 5,615. We believe, it will start trading in a new trading range of 5,600-5,725. We recommend trading with some low beta stocks and suggest BUY on dips. We expect it to take strong resistance near 5,725 and support seen at 5,630 and 5,600. For positional traders, we recommend buying on dips with strict stop loss at 5,580.

The Sensex has supports at 18,540 and 18,470 and resistances at 18,680 and 18,800. The Nifty spot has supports at 5,645 and 5,610 and resistances at 5,690 and 5,725.

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NIFTY OUTLOOK - Market Updates Today 01 Nov 2012

The Nifty traded in a 30 point range before giving a weak breakout on the upside. We could see a range bound Nifty in the coming days which may not give us clear moves. On the lower side, 5,580 - 5,550 are good support areas and on the higher side, 5,650 - 5,680 are resistances.

Nifty Future touched its crucial hurdle of 5,650 in the last hour of the trade and closed just below that level at 5,646.10 with a small white body candle pattern. Traders are recommended to trade with a negative bias till the time it is trading below its previous range. We expect support at 5,580 and 5,530 levels and on the upside it is likely to remain capped near 5,725. Overall, we expect a new trading band for coming trading session. However, it is too early to predict.

The Sensex has supports at 18,450 and 18,370 and resistances at 18,580 and 18,660. The Nifty spot has supports at 5,580 and 5,545 and resistances at 5,650 and 5,680.

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NIFTY OUTLOOK - Market Updates for Today 31 oct 2012

The Nifty opened and traded higher post the outcome of the RBI policy, it dropped a good 75 points in 45 minutes and then started to consolidate between 5,590 - 5,615. The Nifty has clearly broken down from the range it was in for many days however to initiate fresh shorts towards the end of the day would be risky as it has already fallen a lot and is close to support levels at 5,550 - 5,600. 

Nifty Future has broken down its ongoing consolidation and closed below its most crucial support level of 5,630. It closed at 5,628 with a big bearish candle pattern. This bearish reversal likely to take it towards 5,530 level so aggressive buying is not advisable at this juncture. However, we see 5,580 is a crucial level to act as a stationary support level on intraday basis. 

The Sensex has supports at 18,310 and 18,220 and resistances at 18,470 and 18,550. The Nifty spot has supports at 5,575 and 5,525 and resistances at 5,640 and 5,670.

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Nifty News Today 29 Oct. 2012

The Nifty has immediate support placed at 5,630 - 5,620 levels and a break below 5,630 is likely to make the correction a bit deeper to levels of 5,550 - 5,540. In the last trading session of the week Nifty managed to take resistance of its 9 and 26 period moving averages, trading above its moving averages and resistance level of 5,760 may take Nifty till 5,800 marks.
           The Nifty has immediate support placed at 5,630 - 5,620 levels and a break below 5,630 is likely to make the correction a bit deeper to levels of 5,550 - 5,540. In the last trading session of the week Nifty managed to take resistance of its 9 and 26 period moving averages, trading above its moving averages and resistance level of 5,760 may take Nifty till 5,800 marks.

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Nifty Market Outlook for 17 oct. 12

Nifty on corrective path
Indian shares closed  flat to higher on Monday after recouping losses in afternoon trade following positiveEuropean cues. Nifty went closer to 5700 level with the index hitting an intraday high of 5,693.70, before closing with gains of 11.20 points at 5,687.25. The much awaited inflation came in at 7.81 percent for the September, which was slightly higher compared to 7.55 percent in August due to hike in diesel price by Rs 5 a  liter in last month. But that was largely in-line with analysts' expectations of 7.73 percent.
        Nifty is expected to face support and resistance between 5,650 and 5,750. Currently, all the technical indicators are in the profit booking phase with RSI at the level of 58. However, MACD which has crossed-over for a bearish indication. The first resistance, for the week ahead, is 5,740 followed by 5,760. In case, Nifty crosses this psychological level, it can further test 5,800 mark on upside. While the first support, for the week ahead, will be at 5,650. A fall below that level could drag Nifty near to 5,600  after hitting fresh 2012 highs, the Indian benchmark indices are expected to take a breather before determining the next direction of the market. FIIs have a huge long position in cash segment but they don’t have in proportionate long positions in stock future, indicating selling could be emerged at higher levels.

                                              3 MONTHS DAILY CHART OF NIFTY


                                            SHORT TERM OUTLOOK ON STOCKS

Stocks with short term Bullish Outlook:
STOCK                                                           S1            S2          R1             R2
HINDALCO                                                 117.9        115.7     121.4        122.7
SIEMENS                                                    687.07      676.03   705.07       712.03

Stocks with short term Bearish Outlook:
STOCK                                                          S1             S2          R1              R2
MARUTI SUZUKI                                     1320.07     1301.88  1370.37    1402.48
INFOSYS                                                   2341.6       2317.6    2400.8       436

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