Niftyoutlook
Nifty 30 Jan 23 to 3 FEB 23 Short ,Medium and Long TermNifty 30 Jan 23 to 3 FEB 23 Short ,Medium and Long Term
Nifty closed at 17605 ( Prev close 18057)
Nifty in Deep Red Zone due to Hindenberg report Adani Stocks befor FPO and budget.
Q3 Results didnt entralled the investors to the expectation so far, except Banking sector results. Banking sector posted good performance(results) as mentioned in last 2 weeks analysis but the bank index didnt moved much due to the Indian Market Slow down worry. Expect infra push continues in budget.
Currently market is eagerly waiting for budget to prevent any deep fall.
Wait for the market to dip to the support levels mentioned below.
Overall Strategy: Negative till budget & accumulate on dips w.r.t the strict support level given below. Long Term looks attractive. Market may fall from 2-4 % from current level
Nifty short term
Nifty was following range bound action for the last month as specified despite budget expectation. Due to the Adani report, market fell down 2.2 % last week. If it breaks below 17435 (Oct22 High Shown in dark Red line) then next support will be 17290 ( MA 200) / 17000.
Index will be in broader range with high volatality 17250- 17800 till budget.
Investors can Partial profit booking (30%) stocks can be initiated and add value stocks for Long Term when market dips to the above support level.
Medium term target
18250 followed by 18900 is achievable as overall macro economic data is good and now purely depends on the push to be given by budget. If the budget is not meeting the expectation then the Market Range will be 16750 ( Sep 22 low) - 18250 levels.
Long term target 19500 still in intact.
Nifty Bank Index is continuing under oversold zone, Adani stocks exposed stocks like SBI, ICICI, LIC will be consolidating little and opportunity to buy. other bank Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty .
sectors like Defence, Infra stocks will be concentrated in budget especially HAL, BDL, Ircon, PNC Infra are good to buy on dips ( 5-10% Correction) incase market fall.
Auto looks promising - Maruti, M&M , Tata Motors are good to buy.
Other stocks - Bajaj Finance ( 5-10% Correction), Infosys, Hind Unilever, Tata Elxsi, KPIT looks promising. Buy on Dips.
India Vix About to Break Out but needs cooling off for nowAs you can see the Volatility Index of Nifty has leaped and on the verge of shooting through the roof. Therein lies the relief. If you look at Relative Strength Index of the Volatility Index, it has entered the zone from where it generally reverses. Reversing volatility might provide a relief rally or stability to the Index and we might see some buying from various kinds of investors.
Good budget or a budget without any negative news can play a positive role in Indices making a comeback or infusing stability. On many counts the index looks oversold and later on Monday / Tuesday or in that range we might see a rally.
This rally can be short lived as it will face resistance near 17950/18050 range but if that zone is overcome and if Budget has some very positive news for the investors we might see a sharp rally till 18400 or 18800 range.
In case of lackluster budget by Government of India the downside that we might be looking in Nifty can range between another 3 to 7%.
The index within Nifty that looks on the verge of Break Out is Auto Index. It is looking really strong. Tech companies can make a comeback because they have been beaten down the most and they may reflect the light from positivity of NASDAQ.
Nifty 23 Jan 23 to 27 Jan 23 Short ,Medium and Long TermNifty 23 Jan 23 to 27 Jan 23 Short ,Medium and Long Term
Nifty closed at 18027 (Prev close 17956)
As highlighted in prev weeks nifty is in sideways movement.
Q3 Results didnt entralled the investors to the expectation, except Banking sector results. Banking sector good performance(results) was expected as mentioned in last 2 weeks analysis but the bank index didnt moved much. Expect infra push continues in budget.
Currently market is eagerly waiting for budget.
Wait for the market to dip to the support levels mentioned below. Partial profit booking (20-30%) stocks can be initiated in portfolio stocks and add value stocks.
Overall Strategy: Neutral till budget & accumulate on dips w.r.t the support level given below.
Nifty short term
Index will be range bound from 17775-18260 till budget. If it breaks below 17775 major support (Shown in dark blue line -Aug 22 & Feb 22 High), then next major support 17564 ( Fibinoccai 0.318 New)/ at 17435 (Oct22 High Shown in dark Red line).
Need to cross firmly above sustain above 18260 to reach initial target of 18350(Jan22 High shown in dark Green color) /18440 and 18550 in the coming weeks.
Medium term target
18900 as long as market above 16800/17000 levels.
Long term target 19500.
Nifty Bank Index is still under oversold zone, Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty.
Pin Point Predictions Of Nifty For 16-1-23Hello Traders,
A very small initiative to make your trading easy with the help of my experience and knowledge gained in last 17 years. This chart is posted to clear all confusion of trading two days ago for 13-1-23 trading. Complete price action discussed in detail with Monday predictions check below.
NIFTY : View for 3rd JanNIFTY : Sellers trying to stop nifty but Bulls are working hard to hold levels. its important to watch Price action levels closely to understand who will win this fight.
Yesterday it went down and back again exactly touching indicator and created 2 green candle in hourly chart. change levels little bit to adjust price movement but my personal view is still up.
Lets see today's price action and levels.
It will motivate me to post more analysis if you can Like, Share, Comment.
Disclaimer
I am not SEBI registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
First Learn and then remove "L"
Last view :
Comment:
1st Jan : Nifty was not able to sustain and down during last session. but its hold position exactly at hour support line. Still nifty is near support zone and bull can try again with double force to back in bull zone. Lets see Monday candle pattern
NIFTY : moving as expected NIFTY : bounce perfectly as mentioned last time, 23rd Dec : we would require engulf candle Monday to sustain and Today we have Bullish engulf candle on chart. :)
26th Dec: What Next: after creating Engulf still some level is pending for Nifty to back to his bull zone. Zone is marked in charts. lets wait & watch.
27th Dec: Nifty it trying to catch our Bull zone levels marked in chart.....Lets see tomorrow what will happened after it touch our Bull zone level. Thursday we would have more idea on Nifty . Keep watch.
28th Dec: As mentioned yesterday, Nifty touch our Bull zone and reverse exactly from there. its not easy for Nifty to break price action levels. Tomorrow If Bulls able to gap up and sustain we can see continue up move. If unable to sustain, Nifty can back again in our support zone (Box). Trade as per morning candle.
30th Dec : Sorry guys, unable to update yesterday due to some personal reason.
As expected nifty entered successfully in Bull zone now. X managed to trap people by gap down yesterday and then bulls pressure was with full josh. This is what we were looking for "Josh". Now shifted support to 1'6159-181 zone as Market have to sustain till here for next move. 18434 is next resistance on chart as per my study. Lets wait & watch
It will motivate me to post more analysis if you can Like, Share, Comment.
Disclaimer
I am not SEBI registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
NIFTY : Expiry levelNIFTY : bounce perfectly as mentioned last time, 23rd Dec : we would require engulf candle Monday to sustain and Today we have Bullish engulf candle on chart. :)
26th Dec: What Next: after creating Engulf still some level is pending for Nifty to back to his bull zone. Zone is marked in charts. lets wait & watch.
27th Dec: Nifty it trying to catch our Bull zone levels marked in chart.....Lets see tomorrow what will happened after it touch our Bull zone level. Thursday we would have more idea on Nifty . Keep watch.
28th Dec: As mentioned yesterday, Nifty touch our Bull zone and reverse exactly from there. its not easy for Nifty to break price action levels. Tomorrow If Bulls able to gap up and sustain we can see continue up move. If unable to sustain, Nifty can back again in our support zone (Box). Trade as per morning candle.
It will motivate me to post more analysis if you can Like, Share, Comment.
Disclaimer
I am not SEBI registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
NIFTY: Will be able to enter in Bull Zone?NIFTY : bounce perfectly as mentioned last time, 23rd Dec : we would require engulf candle Monday to sustain and Today we have Bullish engulf candle on chart. :)
26th Dec: What Next: after creating Engulf still some level is pending for Nifty to back to his bull zone. Zone is marked in charts. lets wait & watch.
27th Dec: Nifty it trying to catch our Bull zone levels marked in chart.....Lets see tomorrow what will happened after it touch our Bull zone level. Thursday we would have more idea on Nifty. Keep watch.
It will motivate me to pose more analysis if you can Like, Share, Comment.
Disclaimer
I am not SEBI registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
NIFTY : perfect review NIFTY : bounce perfectly as mentioned last time, we would require engulf candle Monday to sustain and Today we have Bullish engulf candle on chart. :)
What Next: after creating Engulf still some level is pending for Nifty to back to his bull zone. Zone is marked in charts. lets wait & watch.
It will motivate me to pose more analysis if you can Like, Share, Comment.
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing