indiamarketoutlook

indiamarketoutlook Updated 

Chart setup The stock has previously taken support at 3450 odd levels in late May - June 2022 / Aug 2022 / Oct 2022 - it broke down below that in November and the same level acted as resistance in for a month and a half - now again trading above the crucial levels - blue trendline support comes at 3330 odd levels on 25 Jan...

indiamarketoutlook

Reliance The Chart set up The stock has been sideways for the last 8-9 months. The stock has fallen approximately 9% from the top in the month of December so far. Important levels on the downside which has the potential to provide support S1 - 2467-2485 S2 - 2405-2420 Important levels on the upside which has the potential to act as resistance R1 - 2565-2588...

indiamarketoutlook

Bank Nifty 21 day EMA currently around 42957 63 day EMA currently around 41748 These are dynamic and keeps changing, so follow the chart for exact levels on any particular moment Unlike Nifty, Bank Nifty is still trading above its 63 day EMA. However with weak global sentiments overall, it would be a test of time for Bank Nifty. - important levels to watch...

indiamarketoutlook

Nifty first instance has taken a fall from the opening levels. Again if you see the chart we see it respected 21 day EMA. In my yesterday's post I had mentioned that Nifty first needs to protect 18114-18080 odd levels and my first take would be Shorting Put options. Accordingly 25 Jan expiry Put short has been initiated at 140 The same has been updated in my...

indiamarketoutlook

Infy - the stock is managing to hold on to gap zone levels - important support levels 1480 / 1444 / 1433 - 20 day EMA and 63 day EMA at 1562 and 1545 respectively Given the setup, one may consider to sell Infy January expiry 1460 Put option The strategy has a profit potential of 10% on Margin requirement and provides protection for a fall up to 1437.5 odd...

indiamarketoutlook

Laurus lab In my previous take on the stock when it was trading at 463, a long position in cash market was suggested between 436-463 from a long term perspective and with a warning that below 435 it might fall down to 340-370 odd levels and that one needs to have a plan for the same. Accordingly I had I haven't changed the chart but using the same one...

indiamarketoutlook Updated 

Asian Paints CMP 3158 63 day EMA is at 3179 21 day EMA at 3158 Stock is struggling to sustain above 63 day EMA Given the set up one may consider to sell Asian Paints Dec expiry 3200 Call option currently around 52 SL / Exit if closing in Spot is above 3226 Take care & safe trading...!!! Like and share Disclaimer - The view expressed here is my personal...

indiamarketoutlook Updated 

Nifty is at important zone Nifty important levels on the upside - 18716 / 18740 On the lower side watch out for 18653. If that is taken out then we might see Nifty drifting lower towards 18416 / 18258 These are Nifty Future levels we are discussing here You can keep the levels to watch out for as SL for your Long / Short position Plan your trade...

indiamarketoutlook

Spicejet The stock has struggled a lot in past but since September 2022, the stock has managed to hold on to the Bear onslaught. Financially still unhealthy, but with restructuring process due to be completed soon, and Oil prices cooling off, things may improve for the aviation sector going forward which can in turn help the aviation sector. If we analyze the...

indiamarketoutlook

ICICI Bank The stock is trading near resistance at 936-944 zone Given the set up, one may consider a Bear Call Spread strategy for December series Sell 940 Call option (currently around 13.4 & Buy 960 Call option currently around 6.1 The strategy has a max profit potential of approximately Rs 10037.5/- per strategy and a yield potential of approximately 13.5%...

indiamarketoutlook

IGL - Since Nov 28, the stock has seen some consolidation at current levels - 21 day EMA and 63 day EMA are at 430 and 415 respectively - Once above the red resistance zone, the stock can potentially move towards 480 / 502 levels Depending on your risk appetite and time horizon, you can use the 21 day EMA or 63 day EMA as SL Take care & safe...

indiamarketoutlook

Powergrid The stock seems to have sustained above its crucial resistance level at 218 Now it has a clear path towards 231 / 238 Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take...

indiamarketoutlook

IOC The stock is in strong territory and has support at 73.5 / 68 Target for the current set up 79 / 84 / 90 Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational...

indiamarketoutlook

ONGC - After making a low of 119.85 on July 6, 2022 the stock has managed to defend the low thereafter - since Sept 28, 2022, the stock has made a higher bottom higher top formation - managing a close above the yellow line could open the doors for further upside potential of 154 / 158 / 166 Buy at CMP and on dips towards 136.50 SL Keep a SL at blue line (...

indiamarketoutlook

Nifty is currently having support at 18400 odd levels Nifty all time high is at 18604 Given the set up one may consider to a Short strangle strategy in weekly options Dec 01 Expiry Sell 18300 Put optoin Sell 18650 Call option Net receivables 68-70 points Loss in trade if closing on Dec 01 is below 18232 or above 18718 Review points 18350 on the lower side...

indiamarketoutlook Updated 

Nifty November series has seen a decent up tick Observations - In the last couple of days above 18200, Volumes have dropped - 18180 is an important level to watch out for the November series Important levels to watch out for on the lower side 18180 / 18133 / 18036 Important levels to watch out for on the upside 18228 / 18304-18323 odd levels With...

indiamarketoutlook Updated 

Nifty Yesterday I had given important levels for Nifty 18228 - It respected the level for the whole day and gave a breakout in last 1/2 hour of trade Above 18228 the next level given was 18304-18323 zone Today Nifty opened at 18325 and immediately retraced and traded the whole day in the yellow zone ( again the yellow zone has been marked in yesterday's...

indiamarketoutlook

Nifty The level of 18350-18400 has acted as crucial resistance in the past Immediate Support at 18258 odd levels High risk traders may consider buying Nifty 17 Nov expiry 18300 Put option between 58-66 (CMP 62.50) Target 84 / 96 / 102 SL 51.50 Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future...