Nifty levels forecasting for Upcoming session 15 M chart used for analysis
*Trading Range: 13310-13630 is the Trading Range for upcoming session.
*Resistance & Support /Chart Pattern & Trend:'
Pls Refer the chart, Channel range brake out and now a new trend line is acting as a resistance & 50 EMA is acting as a good support ,we can see in chart .
You can refer the previous session analysis to know the more as given in to link of related idea
*PE: 37.20 All time High .
*RSI: 79 (1 D Time frame Chart) Bullish momentum
*FII & DII Activity FII- Net Value: +3565 Crores DII- Total Value: -2493 Crores
FIIs are Very bullish on Indian market.
*Call PUT OI Buildup ( Weekly Expiry 10 Dec 2020): Massive Put Writing and call unwinding on same strike 13400/13300/13200 is indicating the uptrend.
Pls note : Above All mention data are captured on last trading session.
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Disclaimer: Markets are Supreme ,If I am proven wrong,i will accept it & learn. I am not SEBI Registered ,This is just my own view. If any data having any typing error then pls correct it for your analysis & drop a line to me in chat.
@doddaabhi, Sir there are many factors which impact the market in their own way,
Negative factors:
Even currently we are eyeing on farmer protest ,because this protest is now in global media.Apart from this , CCI Raids on cement sector's cartel talks , Heavy weight HDFC is barred to expansion of digital services, New policy of min 25% of public holding in PSU may also hammer on price,Market on All time high so some profit booking /MF redemption & so on so...
Positive factors:
Global market is full of energy to be in remain bull trend due to rupee is getting strengthen day by day means there is huge global liquidity,G Sec-Yield are growing, Loan are available at lowest interest rate like 6 to 7% And deposit PE are expensive now then why will you go deposit if you can earn more just taking little risk,see here:
FD/RD/PPF PE : if you deposit 100 Rs in to FD and you are getting 5% interest then FD PE =100/5=20 , So on so for others deposit.
But Index PE is 35-37 ,I know it is little bit expensive but future is optimistic ,Be invested & hedge your portfolio with deep OTM put, I am also doing this because at least i am still market participant and enjoying the market rally .
Always remember : Market is supreme .
Thanks .
KrishnaSoni
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dear ,some profit booking we can see ,and it may correct the market around 3-4%
shobprav
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@KrishnaSoni, you are right Krishna. Thanks for the update. What's your target for nifty long term. Will it cross 14k? Or a fall expected this month?
KrishnaSoni
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@shobprav, Recently i have commented on @doddaabhi comment ,pls refer that.
Thanks
shobprav
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There is a bad new in the market. 2 deaths due to Pfizer vaccine. Do u think market will still be bullish? And fiis have started booking profit.