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NIFTY ON 10-11-2022 Opened gap down Index denied to move above the immediate resistance of 18100 and selling pressure was observed in all the indices. AUTO and FMCG were worst hit as they lost 1.95% and 0.53% respectively. The Index retested the crucial 17975 during intraday and a marginal recovery occurred in Index which brought Index above the 18000. Index...

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NIFTY ON 07-11-2022 It was a no-surprise trading session as the Index respected the important levels on both the sides. As we had discussed in the previous post that Index will take support near the first level i.e. 18100-18040, NIFTY fell from day high of 18255 to retest the 18100-40 and a splendid recovery was observed in the final hours as Index succeeded to...

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NIFTY ON 04-11-2022 With the support of METAL ( 4.21%) , Heavyweights RELIANCE (1.47%) and BAJA FINANCE(1.27%) Index successfully defended the crucial 18000 during the entire session and consequently Index retested the next resistance level of 18100. Index closed at 18117.15 near the day high of 18135.10 making a bullish candle. Technical View : (Daily...

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NIFTY ON 02-11-2022 Profit booking near the resistance level 18210 came into play during today’s session and consequently Index corrected from higher levels till near the first important support level of 18040. METAL and PHARMA and RELIANCE INDUSTRIES provided support to the Index while weakness was observed in BANK, IT and AUTO. Index succeeded in defending the...

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NIFTY ON 31-10-2022 Under the leadership of AUTO and IT, Heavyweight RELIANCE INDUSTRIES LIMITED and HDFC BANK Index ran unidirectionally after a gap up opening and crossed and sustain the crucial 18000 level. All the indices closed in Green and consequently Index closed at day high 18012 making a strong Bullish candle on daily chart. Technical View : (Daily...

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NIFTY ON 28-10-2022 Index remained range-bound throughout the session with the lower band shifting towards 17700. Despite weakness in all major indices except AUTO Index successfully defended 17700 as buying was observed in heavyweight RELIANCE which gained 3.09% during the session. Index closed at 17786.80 making a Bullish candle on the daily chart. Technical...

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NIFTY ON 27-10-2022 With no surprises for the traders, the Monthly expiry remained a silent one and in absence of any strong cue Index broadly remained the rangebound. METAL and BANK took the leadership while profit booking was observed in IT. Consequently, all the indices closed in Green except IT. Index closed at 17736.95 making a Hanging Man kind of candle on...

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NIFTY ON 25-10-2022 Following the positive global cues Nifty opened gap up near the crucial resistance level 17800 ( 17825-17950 is the congestion zone which we have already discussed in the previous posts) and failed to hold as consequently fell to make a day low of 17637. Buying was observed in AUTO and IT while weakness was observed in FMCG and BANK. Index...

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NIFTY ON 20-10-2022 Opened Gap Down took support near first level i.e. 17425 and began the unidirectional journey towards north to reach the day high of 17584. 15. IT and METAL emerged to be the leaders gaining 1.33% and 1.14% while weakness was observed in BANK which lost 0.68%. NIFTY closed at 17563.95 gaining 0.30%. Technical View : (Daily Chart) NIFTY has...

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NIFTY ON 06-09-2022 Riding on the back of BANK (0.98%) and METAL(1.67%) the Index rallied unidirectionally and made a day high of 17683.15. As we discussed in last post that defending the 17500 twice confirms that Index is not ready to break down and hence there are high chances that Index will show a positive session. Buying was seen in every index and...

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NIFTY ON 02-09-2022 The trend of NIFTY remined intact during the trading session and levels on both the sides were respected. BANK (+0.30%) and FMCG (0.39%) supported the Index while weakness was observed in PHARMA ( -0.39%) and IT ( -0.36%) as well Heavyweight RELIANCE which lost 1.17% during the trading session. Minor profit booking came in AUTO (-0.34%). NIFTY...

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NIFTY ON 29-08-2022 Amid weak global cues Index opened gapped down near the important support level of 17200. It was nothing unexpected as we have been discussing since our last two posts that there are high chances that Index will retest 17345-200 level. However, it was a sharp recovery from the lower level which moved index to the crucial 17350. Except FMCG all...

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NIFTY ON 26-08-2022 The rangebound trade continued during the session where the lower range is 17500 and upper is 17700. Missing any vital cue, Index seems to be reluctant to break/breach the range on either side. METAL and IT offered support to the Index while profit booking was observed in BANK. Index closed at 17558.90 with a marginal gain of 0.21%,...

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NIFTY ON 25-08-2022 As we had discussed in the last post that caution must be taken during trading session as NIFTY may show level on either of the sides, the profit-booking was observed in the Indices during second half of the session and consequently NIFTY fell from the day high 0f 17725 to retest 17500. All the vital indices closed in red and consequently...

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NIFTY ON 24-08-2022 Buying in BANK and FINANCIAL as well supported the Index and as a result despite the gap down opening bulls succeeded to defend the crucial level of 17500 decisively. The buying in RIL and HDFC BANK during first and second half of the trading sessions respectively also played a crucial role to kepp the momentum up. As a result, NIFTY...

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NIFTY ON 23-08-2022 NIFTY offered no surprise during the trading session as we had discussed in the last blog that there are high chances that NIFTY may bounce back from the current levels. Buying was observed in all indices except IT which remained weak with a loss of 1.77%. BANK, AUTO, METAL and heavyweight Reliance Industries Limited all pushed the market...

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NIFTY ON 19-08-2022 Amid weak global cues , Selling pressure in all the indices was observed and NIFTY continued to correct further and breached the crucial level of 17700-500. BANK, IT, AUTO, METAL all dragged the NIFTY below 17700 and bulls were compelled to leave the long positions. Consequently, NIFTY closed at 17490.70 losing 1.51%. Technical View :...

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NIFTY ON 19-08-2022 NIFTY finally saw a correction after a one-way rally of 08 trading sessions. As we have been discussing in the previous blogs that technically NIFTY is already in the overbought zone and a correction from the current levels may be observed anytime soon, the Index lost 1.10%. The selling pressure was observed in all the indices ( except IT...