Today's Market Review and Nifty Intraday Levels for Tomorrow

After the great pullback , Indian market lost third half of what it gained yesterday. NSE Index Nifty moved below 4800 level during noon trades and eventually closed at 4805.10 down by 46.20 points. 

Nifty Futures suffered 1.13% loss and settled at 4815.10. The major giant stocks like RIL and Bharti airtel led this downtrend. The skeptical traders can drive the market in consolidated mode tomorrow. A direct rise above 4855 may call for an intraday bull and Nifty can move up to 4872- 4890 levels. On the downside 4780 is the nearest support and a trade below which would invite some more down side in Nifty Future.

Support zone for Nifty is 4780-4763 and resistance levels are 4870-4890.


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Market Preditcion: Nifty Intraday Levels for Tomorrow

Indian bourses rode the bull and ended in a very positive node today. A strong pull back was seen after bearing the bear for last two weeks. NSE Index Nifty rose quite sharply and gained 141.25 points (3% ) to close at 4851.30.
Nifty futures rose 3.45% and settled at 4873.50 up by 162.55 points. The technical indicators are giving the signal of short coverings so for tomorrow also, we can expect this uptrend to continue. The next crucial level for Nifty to breach is 4909 level above which it may touch 4955 level which can be followed by 5000 level soon.

On the downside, Major support is seen near 4750 mark.


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Nifty Levels for Next Week

10 out of last 12 trading sessions were ended in red mark on the back of Euro zone concern and sharp decline in Indian rupee against dollar. Nifty lost 4% during the week and made a 2 year low of 4639.10.
On Friday also market traded with negative bias but due to traders lack of interest, it did not collapsed like the other day. The market is in oversold position again which indicates that the Monday could bring some positiveness in the market.
Technically Nifty is looking weak technically in weekly chart. It is not sustaining and any higher levels if 4630 levels is broken decisively, it indicate that the Nifty can hit 4,500 levels. This is not expected that rally to pause at 4500 levels on the Nifty. so next support comes at 4475, whereas at upside major hurdles comes at 4850 and 4920.so trader be caution for next week


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Market Outlook and Nifty Position for Tomorrow

As we predicted on our previous post that market might remain positive today after taking a rebound, and the same happened today. The NSE index smartly recovered from day's low due to short covering on the last day of F&O expiry and managed to close above 4750 at 4756.45 with a climb of 50 points.

Nifty Futures also added 53.10 points to its last figure and settled at 4757 level. Nifty made a low below 4650 mark and then gradually recovered to close near its day high. The way market behaved today, it left no direction to decide for the coming session. Technically 4645 will act as crucial level for down down and we can see a straight downfall towards 4620-4600 below this level. While above the level of 4780 we can expect some good upside momentum in tomorrow trading session.

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Nifty Intraday Trend and Market Prediction For Tomorrow

All the gains of Tuesday went in vain and Nifty Touched its two years low at 4640.95 during afternoon trades. However Nifty manged to recover thereafter and closed above 4700 mark at 4706.45 down by 105.90 points.
Nifty Futures settled up at 4708.95 after losing 96.35 points. As we could see today, a pullback was seen today after 4650 level for short covering so chances are there for a positive day tomorrow. Above the level of 4742, an Intraday climb till 4778-4790 and even more is expected. However below 4640 level, Nifty can extend its extreme bearishness. Major support for Nifty is seen around 4580 while resistance is seen near 4780 mark. A break in either side would decide the direction of the market.


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Market Prediction: Nifty Trend for 23 November 2011

After suffering eight days losses, Indian markets could finally see some gains on Tuesday and NSE index Nifty ended with substantial gain after making a high of 4850+ and could manage to close above 4800 mark.

Nifty Futures gained 26.70 points to close at 4810 in a highly volatile trading session. The market is still looking uncertain as we could see the Nifty taking a reverse move after day's high of 4852. Though nifty has given a sign of recovery from an oversold position but we still can't say that the down trend of Nifty has gone. Having support near 4768, Nifty may take a dip towards 4725 below the same while above the level of 4872 market is bullish.

RESISTANCE: It has first resistance close to the level of 4870 & above this level the next resistance is seen near the 4910 mark.
SUPPORT: It has first support close to the level of 4770 & below this level the next support is seen near 4680 mark.


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Market Trend For 22 November: Nifty Levels

As we predicted in out last report Nifty extended its bearish trend on eighth consecutive session. Strengthening of dollar against rupee and huge sell off by FIIs led the market to close at 4,778.35 after losing 127.45 points 2.60%.
Nifty futures also lost 2.60% and settled down at 4787 down by 127.60 points.

The market is now in oversold position and Nifty might take a reverse momentum after some more dips till 4720 which is the crucial support level for Nifty futures. Therefore amid this bearish trend a possibility of a short term pullback can not be ignored and we will suggest the traders willing to to go for short in Nifty should keep strict stop-loss.
A stiff resistance close to the level of 4880 is required to be breached for persisting an uptrend in the market.


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Nifty Intraday Trend for Monday 21 November 2011

A significant loss was seen in the market during the week and Nifty lost 5.24% in this week. On Friday also Nifty persisted its bearish trend and made a low of 4839 after breaching the support we had given on Thursday report.

Market is likely to extend its bearish trend on Monday as well and breaching the level of 4870 may call for another sell off till 4830-4809. But a rebound is expected near this level (4870) and if Nifty manages to stay above 4930 mark we can see nifty to touch intraday levels like 4972-4990. Strong uptrend is seen only above the resistance level of 5085 while Nifty is having a good support near 4700 mark.


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Nifty Intraday Tips for 18 November 2011

After remaining sluggish for most part of the day, nifty again stumbled in the last hour of the session and closed with around 2% loss. Spot Nifty suffered a loss of 95.70 points and closed at 4934. As we already predicted that a trade below 4985 may call for major sell off, the same happened in today's session.
Nifty Futures, down by 2.37%, closed at 4925.30. On the technical indicator front, market is still looking bearish below 4900 mark which Is also acting as a level above which Nifty can take a bounce back move.

Stiff resistance which is required to be breached to acquire the momentum again is around 5020-5080 mark. While support for Nifty futures is seen near 4900-4870 levels.

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Market Trend: Nifty Technical Outlook for 17 November 2011

Spot Nifty, as we expected did the same and closed in red after losing 38.05 points to close at 5030 level. Before this, in the last hour of trade nifty touched a low of 4990 but soon recovered significantly to closed above 5000 mark.

In this choppy trade, nifty Futures added 0.80 points to its previous count and settled near 5080 mark.

Market may come down below 5000 level tomorrow but chances are there to take a re bounce before the level of 4985 which is acting as crucial support for Nifty.

In broad perspective, 5200 is still acting as stiff resistance for strong uptrend while below the support of 4970 nifty may extend this downward trend.

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Market Outlook: Nifty Prediction For 16 November 2011

After trading in a tight consolidated session, spot Nifty slipped in the last hour of the trade and lost 79.85 points to close at 5068.50. After moving below the level of 5100, there is a fear among traders that Nifty will fall below 5000 soon. This panic may fortify the the downward trend in the market. If by the support of the cues and giant sectors like FMCG and banking etc, Nifty manages to breach the level of 5100, we can expect a momentum in the market.
Technically Nifty is looking bearish for tomorrow and below the level of 5044, it may slip down to 5000 and even below.

In Nifty Futures, traders are advised to wait for the predictive level to come so that they can not make direction less positions. In broad perspective, trading above 5149 would help nifty reaching 5200 level. While below 5000 level market could suffer free fall.

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Market Trend For This Week: Nifty Futures Weekly Levels

Last week was full of dramas, domestic as well as global factors dump the sentiment in the shortened week. factors which affected market sentiments were, uncertainties in Euro zone, banking sector suffers setback after international rating agency moody downgraded this sectors stable to negative and index of industrial production for September was 1.9% vs 3.6% for the previous month, slightly below market expectations. 

Nifty Future closed at 5191.75 levels, down by 2.5% week on week basis.

For the coming week if nifty crossed its multiple & psychological support level of 5150 then it could be more bearish and next level comes at 5085-5000.

Immediate resistance comes at 5250 if maintain this level than it can touch the level of 5300-5380 are the higher zone for market. 

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Share Pick For Today: Glenmark Pharma and SBI

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State bank of India is appears to be very positive for holding purpose. The second quarter result of this largest lender bank of India has risen 12.34% which was beyond the expectations. Investors can set a target of Rs. 2100 for this stocks to reach.
 

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Market Forecast: Tomorrow Nifty position

The market extended its consolidated pattern on Monday as well and ended flat after making a valley during afternoon trades. Before that Nifty opened the day higher on the back of positive global cues and touched 5300 level but soon gave up all gains due to weakness in realty stocks and dropped down to a low of 5252. After that it attempted to recover as European market bounced back and Nifty finally ended at 5289.35 up by 5.15 points.

Nifty Futures lost 5.85 points and settled at 5311. Now if supported by cues we can see an upside in market tomorrow. Nifty futures, above 5337 can touch the level of 5355-5372 and even 5390 later while below 5289 which is crucial downside support, it may slip down to 5255. Still Nifty has major support level at 5200 level.

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Nifty Intraday Tips: Levels For Today

The markets recovered from the day's low to end in the green and ended up in flat note again. The Nifty after touching a low of 5201.85 recovered 79.75 points to a high of 5281.60 on fresh hopes the EU bailout will be passed by the Greek Parliament. Things turned around after the Greece ruling party withdrew support and asked the Prime Minister to resign, thereby raising hopes that a referendum to the latest EU bailout package may not be needed. The index finally ended flat at 17,482. Nifty ended at 5,265.75 up 7.30 points.
Nifty Futures shut stop at 5295.85 up by 15.65 points or 0.30 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5335 while below support level of 5220 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5335 & above this level the next resistance is seen near the 5380 mark.
SUPPORT: It has first support close to the level of 5220 & below this level the next support is seen near 5080 mark.


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Market Prediction For Tomorrow

After opening up in lower side the market eventually ended up in flat note amid choppy session. Spot Nifty closed at 5258.45 while Nifty Futures settled at 5280.20 down by 11.20 points or 0.21 % %. It is looking weak in the coming trading session as global markets are likely to remain under pressure.
Technically, below the level of 5220 which the crucial support level too, Nifty may see a downtrend while above 5309 it would be in upward trend.

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