INDIA BULLS COMMENT ON NIFTY
Nifty is expected to move within a range in the coming week amid very high volatility. The F&O data is also supporting this statement as maximum OI has been added in the calls ranging from 5000-
5200 and on the flip side we can see a high OI build up in 4900 puts. Downside 4900 will be the immediate support for it and incase it moves past this level, it can be further dragged to the next crucial level at 4850. Upside, 5060 and 5100 will be the major resistances for Nifty and if it breaches these levels it can further go up to test 5180-5200 levels. Also, the movement of the global
markets will remain the key indicator in deciding the direction of the Indian market. Buying could be seen in Pharma and FMCG
stocks while selling
might be witnessed in Metal stocks.
ADITYA BIRLA NIFTY VIEW
Nifty is expected to be on weaker note. Break of Immediate support level of 4930 would test 4830 levels in near term. Resistance is seen at 5120 levels. Strong buying would emerge on break 5120, which would test 5180 and 5200 levels respectively. Indicators like MACD and stochastic directs the market in negative zone. Cautious trade is suggested for the week.
BONANZA NIFTY VIEW
After making Doji candlestick previous week, Nifty showed selling pressure, which shows Bears are having control at the moment. However, Nifty is still trading above its important support at 4940 levels. As long as
4940 levels are intact, volatility and range bound scenario in 4940-5050 may take place. On breakdown of
4940 levels, selling pressure may accelerate. On short term basis, Nifty is trading below 4990 levels, which shows short term down trend is on.
For trading during the coming trading sessions, trend deciding level is 4990. If Nifty shows strength above 4990 levels then we may see rally to 5050/5090/5150. If Nifty doesn't sustain above 4990 then decline to /4950/4850/4790 may be seen.
PRAKASH GABBA NIFTY LEVEL
Nifty (4988) we said 'the market has unfolded once again in the sideways zone and rallies until 5100 can be sold' the market cracked and closed in the red below the 5000 mark. The market still looks weak and can come down to around 4850 levels.
The crucial support on the downside for the Nifty is 4950-4850 and resistance at 5100
BSE Sensex: (16720) the crucial support on the Sensex on the downside is 16600 and resistance at 17050
MANSUKH VIEW ON NIFTY
In Nifty trend line drawn from the lows of 3918 providing good support at this juncture. Value for this trend line stood at 4800 level. Moreover trend line adjoining tops of 4693 and 5181 seems to be determining new range in upcoming sessions however such possibility looks illusive at this point. Hence for upcoming sessions range bound scenario between 4800-5200 looks more prominent and worthy
CAPS NIFTY VIEW
With these facts, we expect the Nifty to move in a range of 4,840-5,100 with a lot of intra-day volatility. Technically, the bullish set-up has changed as most technical indicators like Daily RSI and Stochastic indicators entered to the oversold region and MACD shows divergence to book profit from the long trade. Nifty also closed below 5 day EMA Low (5014) and Weekly 5 EMA close (5024).Resistance comes at
5020-5102-5180 levels and a trend reversal is possible around 4925 levels. Immediate support for the Nifty is seen at 4980-4925-4840-4780 levels
IBN SERVICE DELHI NIFTY LEVELS
NIFTY: Weekly Close: 4987.70 (129.60) Resis – 5180, 5150, 5230, 5350, 5500 Supports – 4900, 4750, 4550, 4400, 4200
SENSEX: Weekly Close: 16719.83 (399.20) Resis – 17300, 17500, 18000, 18500 Supports – 16500, 16000, 15300, 14750
Sensex Range This Week: 16300 - 17300 above which it will touch 17500 & Below Tgt 16000; Resis at 17300 closing.
Nifty will find support around 4940-4900 & expected good bounce due to short covering & rollover. High volatility can be seen lesser days in F&O exp. Hot sector for the Week: Metals.
PRAVEE (TECHNICAL ANALYSIS)
