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Niftytarget

Nifty Elliott wave analysis for 6oct 2020Nifty needs to break below 11441 in quick time if it completed its wave (v) at 11578 and 11383-11181 are immediate targets because extended wave (v) retraces 100% in quick time. But it nifty crosses 11578 without breaking below 11441 then we will consider wave (iii) completed at 11578 and wave (v) started from 11452. Move from 11221-11578 is very sharp and steep with two gaps so there is a possibility that it is wave (iii) completed at 11578 not (v). Let market to decide and our work is to watch out important breakeven point 11441.
NSE:NIFTY
by chirag_Khasiya
8
NIFTY falls 100 points in 20 mins! Nifty - Technical Analysis: -NSE Nifty 50 index fell for second straight session dragged by weakness in banking, financial services and FMCG shares. -NIFTY was sustaining above 11550 for the first session of the day but witnessed high selling pressure during the last hour and was brought down. -It bounced from the 200SMA in 1hr candles for the second time indicating support there. Market - Driving Factors: -For most part of the day, benchmarks traded in a range bound manner with a positive bias. However, intense selling pressure in banking shares in the last hour of trade led to weakness in the benchmark indexes. -Among the sectors, the Nifty Pharma jumped 5 percent hitting a 5-year high while on the other hand, banks fell led by Kotak Mahindra Bank, HDFC Bank and SBI. -Dr Reddy's Cipla, Adani Ports, Bharti Airtel, and M&M were the top gainers while Kotak Bank, HDFC Bank, Shree Cements, Bajaj Finserv, and Maruti led the losses. Nifty - Outlook for Monday, 21th September: NIFTY is witnessing selling pressure and we have a bearish bias. If NIFTY breaks the 200SMA we can see more selling towards lower levels. Pharma continues to be the momentum sector while banks could take a back seat while IT and pharmaceutical will take Nifty higher. midcap index has a target of 18,500 while small-cap index could move to 6,700.
NSE:NIFTYShort
by Algokart
NIFTY makes new low! Correction ahead?Nifty - Technical Analysis: -Nifty was down 193.60 points or 1.68% at 11333.90. -Price below the trendline and made a new low after previous Monday. -Nifty could not revive the gap-down and closed low forming a doji. Resistance level at 11450. Further selloff to 11250 exptected. Market - Driving Factors: -All the sectoral indices ended lower with metal index down 3 percent followed by the pharma, bank, infra and energy -Axis Bank, Tata Steel, JSW Steel, Adani Ports and SBI were among major losers on the Nifty, while gainers were Maruti Suzuki and Zee Entertainment. -The rupee is likely to appreciate further, versus the US dollar, towards 72.80 and 72.40 levels, after the RBI’s indication that rupee appreciation could reduce imported inflation in India. -Today's selloff came after NASDAW plunging 5% and major US tech companies correcting. Nifty - Outlook for Monday, 7th September: NIFTY making a new low is a bearish sign. Doji formed in daily chart indicating indecision in market, indecision after rally often leads to corrections.If Nasdaq recovers we could see some positive indication else further selloff expected.
NSE:NIFTYShort
by Algokart
2