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Niftybank

NIFTYBANK SELL SETUPTrading Plan 1. Daily Bias - Bearish 2. Dealing Range - Price at discount 3. PD arrays - Doji followed by FVG (Sell side Inefficiency) at Supply (48500) 4. Liquidity - Both Sell side and buy side available. 5. Draw on Liquidity - Previous day Low Concept Applied : Power of Three - AMD A - Accumulation M - Manipulation D - Distribution As the daily bias is bearish, expecting price to go higher from daily open price and takes out day's high (Buy side liquidity) and creates a strong displacement with imbalance(FVG) which creates market structure shift (MSS) and Entry inside FVG and SL above Day's High.
NSE:BANKNIFTYShort
by chartology369
Nifty Short, Medium & Long Term View- 29-Apr-24 to 03-May-24Nifty Short, Medium & Long Term View- 29-Apr-24 to 03-May-24 Nifty closed at 22419 (22147) and touched low & high of 22199 & 22623 Nifty was up from the support level and was trading inside the range (22000-22800) provided last week. RSI and stochastics levels was up from last week(53.75 %(41%) & 64% (<20%) Respectively). Moved up from oversold zone. All Companies other than IT and Bank are expected to post result in the coming weeks. Hence market may try to take a cue from the bottom line performance (Profits). Banks & Finance companies posted Good results, IT posted muted growth, Maruti posted good results, Reliance and Ultratech posted muted growth. Other Major companies results are awaited in coming weeks. Nifty bank 48201 (47556) - Nifty bank was up marginally inline with nifty last week. Many bank stocks are buyable zone. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bankof Maharasthra ( Can be added) ,Canara bank can be accumulated slowly & more after the Q4 result. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Ceat & JK tyres can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Medium term support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips initial target 50000. Refer to detailed comments in the bottom on Market, Expected election outcome & Nifty IT. Nifty 22419- Short & medium term (Neutral) As insisted in the last month, Market need to decisively close above 22800 to move up further. As expected last week for come back rally market went up.As mentioned in the past month, nifty almost reached the near term target 22819 two weeks before (Fibonacci extended resistance target) and started falling ( 22819 Target- which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000 and again trying to cross it. Short term support 22230 (MA 50)/22000/21800 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quanties till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 34918 /34000 two weeks before and went upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24 Nifty closed at 22519 (22513) and touched low & high of 22435 & 22782 Nifty touched new high last week and reduced 1 % due to global cues on last day. Global tension caused mild drop in last working day of market. Depends the situation market will react next week. Expecting a mild fall till 22000 and may raise afterwards. RSI and stochastics levels was marginally down last week(57% & 71% Respectively). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35018(35250) - Nifty IT marginally decreased last three weeks. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 48565 (48535) - As expected Nifty Bank increased in the last month gaining near to 6.5%. Nifty touched the near time target provided at 48618 & touched new high of 49063. Medium term support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips. Nifty 22519- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22782. As mentioned in the past month, nifty almost reached the near term target 22819 (Fibonacci extended resistance ( target) iwhich is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000. Short term support 22000/21900 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term View- 08-Apr-24 to 12-Apr-24Nifty Short, Medium & Long Term View- 08-Apr-24 to 12-Apr-24 Nifty closed at 22513 (22335 ) and touched low & high of 22335 & 22606 Nifty Still undecisive need to cross all time high firmly. RSI and stochastics levels was up and retaining same position like prev week(61% & 86% Respectively). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35250(35042) - Nifty IT marginally decreased last two weeks. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 48535 (47118) - As expected Nifty Bank increased in the last 3 weeks gaining near to 5% . It is nearing the initial Target 48618 (All time high). support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips. Nifty 22513- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22618. As mentioned for the past three weeks, nifty next target 22819 (Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000. Short term support 22000/21900 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
BankNifty Eyeing All-Time Highs, Targets 51KThe BankNifty is showing strong momentum as it aims to surpass its previous all-time high levels and move towards the target of 51K. Analysis of the charts indicates a breakout of the triangle pattern, suggesting bullish sentiment. However, confirmation will be established if the price successfully breaches the all-time high of 48636.40 and maintains above this level. In such a scenario, fresh buying interest can drive the index towards the 51K mark. The target is derived from Fibonacci extension analysis. It's important to remain vigilant as the setup could be invalidated if the price retreats and breaks below the support level of 47300. Your feedback, suggestions, and requests are highly valued. Feel free to comment if you find this analysis helpful and consider following for more updates. Any input or advice from your end is warmly welcomed. Disclaimer: The views expressed here are solely my own and for educational purposes only. Make sure you consult your Financial advisor before investing, as I won't be responsible for any losses incurred.
NSE:BANKNIFTYLong
by Kaushik_Karnale
2
NIFTYBANK LEVELS AND ZONES 05/04/2024NSE:NIFTY BANK 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between zones. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
Nifty Short , Medium & Long Term View- 26-Mar-24 to 29-Mar-24Nifty Short , Medium & Long Term View- 26-Mar-24 to 29-Mar-24 Nifty closed at 22096 (22023) and touched low & high of 21710 & 22175 RSI and stochastics levels have improved last week (51% & 47% Respectively). Market closed almost flat last week Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35188 (37517) -To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 46863 (46591) -To continue buy on dips. Nifty Bank last week dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty 22096- Short & medium term (Neutral) Nifty still in undecisive state at present and will be rangebound. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue post election without any additional support of other parties so that govt can be confident enough to take decisions. Election outcome analysis i have prepared is available in website in my profile and my X account karthik_ss Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24 Nifty closed at 22023(22493) and touched low & high of 21905 & 22524 RSI and stochastics levels are same in this week (47% & 21% Respectively). Stochastics is in oversold zone. Market touched a new high last week Monday 22524. RBI issued warning on excessive rally on Mid & Small Cap to control liquidity. Hence Mid & Small Cap corrected last week. Market waiting for to take clear position (to go up or down). Market closed almost flat on first day of this week i.e 18-Mar-24. Nifty IT 37517 (37099) -To continue hold. Nifty IT touched new high of 38550 20 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 46591 (47853) -To continue buy on dips. Nifty Bank last week dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty Bank last week high was 47864 and dipped to low to 46316. Refer to detailed comments in the bottom. Nifty 22023- Short & medium term (Neutral) Nifty is undecisive state at present and will be rangebound. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21554 (Fib Support),20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View- 11-Mar-24 to 15-Mar-24Nifty Short , Medium & Long Term View- 11-Mar-24 to 15-Mar-24 Nifty closed at 22493(22378) and touched low & high of 22224 & 22522 RSI and stochastics levels are same in this week (65% & 96% Respectively). Stochastics is in overbought zone. Market touched a new high on last short trading session on Saturday to 22522, which crossed the Fib resistance and trend line resistance near to 22350. RBI issued warning on excessive rally on Mid & Small Cap to control liquidity. Hence extreme caution need to be applied. Nifty IT 37099 (37593 ) -To continue hold. Nifty IT touched new high of 38550 15 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 47853 (47297) -To continue buy on dips. Nifty Bank touched 48160 high last week and dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22493- Short Term (Up) & medium term (Neutral) As mentioned in for the past two week, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 22116 (MA 21), 21554 (Fib Support ),20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View- 04-Mar-24 to 08-Mar-24Nifty Short , Medium & Long Term View- 04-Mar-24 to 08-Mar-24 Nifty closed at 22378 (22212) and touched low & high of 21860 & 22297 RSI and stochastics levels reduced this week (63% & 97% Respectively). Stochastics is in overbought zone. Market touched a new high on last short trading session on Saturday to 22416, which crossed the Fib resistance and trend line resistance 22350 and closed at 22378. Nifty IT 37593 (38045 ) -To continue hold. Nifty IT touched new high of 38477 10 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 47297 (46554) -To continue buy on dips. Nifty Bank touched 47424 high last week. Target 48618 ( all time high). Crossed the previous resistance and now can expect to move up. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22378- Short Term ( UP) & medium term ( Neutral ) As mentioned in last week Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Short term Support - 21554 (Fib Support ), 20877 Fib Support as shown in the chart. Medium Support at 20225 (prev high), 20000 ( Fib Resistance) Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Political anticipated result expectation, Global trend sustaining the market above 22000. only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium& Long Term View-26-Feb-24 to 01-Mar-24Nifty Short , Medium & Long Term View-26-Feb-24 to 01-Mar-24 Nifty closed at 22212 (22040) and touched low & high of 21824 & 22297 RSI and stochastics levels reduced this week (90% & 90% Respectively). Both Rsi & Stochastics is in overbought zone. Volatality was seen on Thursday with more than 400 points. Market crossed 22150 last week. Need to decisively close above all time high 22294/22314 (Fib Resistance). Earlier 30-35% profit booking was suggested (except Bank & IT stocks). Partial Booking can be considered for further 5-10% wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. This cash will be useful to buy when during the fall. Nifty IT 38045 (38477 ) -To continue hold. Nifty IT touched new high of 38477 last week. Major support at 34918 /34000. Target can be 40000. Nifty bank 46554 ( Prev Week 45634 ) -To continue buy on dips. Nifty Bank touched 47350 high last week. Target 48618 ( all time high) support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22212- Short Term ( Neutral ) All time high 22294/ 22314 (Fib Resistance) will be a key resistance. Support - 21554 (Fib Support ), 20877 Fib Support as shown in the chart. Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22800 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-19-Feb-24 to 23-Feb-24Nifty Short , Medium & Long Term View-19-Feb-24 to 23-Feb-24 Nifty closed at 22040 (Last week 21540) and touched low & high of 21629 & 22068 RSI and stochastics levels reduced this week(58% & 87% Respectively). Stochastics is in overbought zone. Huge volatility was seen last week within the topmost resistance and bottom most support last week. Market was exactly trading within this trend line resistance and trendline support provided. Market need to decisively close above all time high 22117 and 22157 (Fib Resistance). Earlier 30% profit booking was suggested (except Bank & IT stocks). Partial Booking can be considered for further 5-10% in Mid & Small Cap (Stocks/ Mutual Funds) wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. This cash will be useful to buy when during the fall. Nifty IT 38477 (Prev Week 37699) -To continue hold. Nifty IT touched new high of 38477 in this week. Major support at 34918 /34000. Target can be 40000. Nifty bank 46554 ( Prev Week 45634 ) -To continue hold. Nifty Bank touched 46695 high last week. Purchase on dips was suggested. Nifty Bank moved from 44673 to 46695. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Refer to detailed comments in the bottom. Nifty 22040- Short Term ( Neutral ) All time high 22136 will be a key resistance. Market could not surpass it decisively. Hence bearish sideways movement expected for some more weeks. Resistances are at 22000, 22117, 22136 ( All time high),22150 Support - 21430 (Fib Support & MA 50 Support), 20877 Fib Support and trend line support as shown in the chart. Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up. Target Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22500 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments (19-Feb-24) : Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-12-Feb-24 to 16-Feb-24Nifty Short , Medium & Long Term View-12-Feb-24 to 16-Feb-24 Nifty closed at 21782.5 ( Prev Close 21853 ) and touched low & high of 21629 & 22053 RSI and stochastics levels reduced this week( 54.5% & 65% Respectively). Market is in indecisive state, could not take any direction as it could not surpass the previous all time high 22117 decisively. Earlier 30% profit booking was suggested (except Bank & IT stocks). Mid & Small cap Index fell buy 2.5-3% on 09-Feb-24. Partial Booking can be considered for further 5-10% in Mid & Small Cap (Stocks/ Mutual Funds) wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. Interim budget announced was a status quo budget, no relief for income tax payers, no change in corporate tax, as expected Capex for infra (Railways & Road) increased. Infra Stocks, undervalued bluechip stocks can be considered based on the valuation. Nifty IT 37699 (Last week 37323 ) -To continue hold. Nifty IT touched new high of 38368 in this week and then came below to 37699. Major support at 34918 /34000. Nifty bank 45634 (Prev Close 45970) -To continue hold. Nifty Bank touched 44908 and then moved and settled 45634 Low last week. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Profit booking upto 30% was suggested in the last 1.5 months, Cash is useful to pick the right stocks currently to pick the right stock. Purchased Nifty Bank at Jan 1st & 2nd week when it was low using that cash. Refer to detailed comments in the bottom. Nifty 21782- Short Term ( Neutral - Bearish Continued)- All time high 22136 will be a key resistance. Market could not surpass it decisively. Hence bearish sideways movement expected for some more weeks. Resistances are at 22000, 22117, 22136 ( All time high),22150 Support - 21430 (Fib Support & MA 50 Support), 20877 Fib Support and trend line support as shown in the chart. Nifty Medium Term & long Term (Neutral)- Can buy at 20800 -21000 level in case of dip. Target Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22500 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments (11-Feb-24) : Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Last two weeks IT was little down but comparatively lesser than Nifty Index and nifty Bank. Nifty IT touched new high on 08-Feb-24. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-05-Feb-24 to 09-Feb-24Nifty Short , Medium & Long Term View-05-Feb-24 to 09-Feb-24 Nifty closed at 21853 ( Prev Close 21353 ) and touched low & high of 21429 & 22126 RSI and stochastics levels ( 58% & 74 % Respectively). Stochastics is near overbought zone. Market closed all time high and moved higher comparative to last week but is in indecisive state, could not take any direction as it could not surpass the previous all time high 22117 decisively. Interim budget announced was a status quo budget, no relief for income tax payers, no change in corporate tax, as expected Capex for infra (Railways & Road) increased. Infra Stocks, undervalued bluechip stocks can be considered. Nifty IT 37323 (Last week 36496) -To continue hold. On the last day (Fri) of last week it was traded upto 1100 points and moved up. major support at 34918 /34000. Nifty bank 45970( 44866) Moved 1000 points up compared to last week. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Profit booking upto 30% was suggested in the last 1.5 months, Cash is useful to pick the right stocks currently to pick the right stock. Purchased Nifty Bank at Jan 1st & 2nd week when it was low using that cash. Refer to detailed comments in the bottom. Nifty- Short Term ( Neutral - Bearish Continued)- 21300 ( trend Line support Provided was major support last week. Resistances are at 21439 ( Fib Resistance), 21639 ( MA 21 days) , 22000, 22117, 22155 Further below to 21300, 20800-21000 have strong Fib Support and trend line support as shown in the chart. Nifty Medium Term & long Term ( Neutral)- Can buy at 20800 -21000 level in case of dip. Target Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22500 to 18800 expected till mid of 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments (04-Feb-24) : Earlier last 2-3 months , purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Last two weeks IT was little down but comparatively lesser than Nifty Index and nifty Bank. Simillarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last two weeks. Nifty Bank Index was suggested to buy last week. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Nifty Bank View for Upcoming MonthHello Everyone, As we know on 1st of February, Union Budget is going to be announced. After that there will be a major reshuffle in the stock portfolios of the FIIs. Beside this Banking Sector is always on the top priority. So here we will discuss the major Support and Resistance Levels which if breaks could give a one sided momentum. So, basically we have seen Nifty Banks is trading closes near 45360 levels, if supposedly it takes takes support of 44500 and goes beyond that level then it will go till 43380 level. But if it start moving upward and cross the major resistance zone of 46300 level then there will be a great rally further. Upcoming levels shall be 47210-48270-49100. Optimistically the market mood depends on the Budget day and after that. One side momentum will start after next week of budget most probably. Thanks
NSE:BANKNIFTY
by TripuraInvescorp
Nifty Short , Medium & Long Term View-29-Jan-24 to 02-Feb-24Nifty Short , Medium & Long Term View-29-Jan-24 to 02-Feb-24 Nifty closed at 21352 ( Prev Close 21571 ) and touched low & high of 21136 & 21736. RSI and stochastics levels ( 47% & 21 % Respectively). Stochastics is in oversold zone. Market saw huge volatility in the last two week of around 1000 Points, especially fluctuated after results of HDFC bank. Nifty IT (36496) -To hold. major support at 34918 /34000. Nifty bank ( 44866) if further move down support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Profit booking upto 30% was suggested in the last 1.5 months, Cash is useful to pick the right stocks currently to pick the right stock. Refer to detailed comments in the bottom. Nifty- Short Term ( Bearish)- 21300 ( trend Line support Provided was majr support last week. Resistances are at 21439 ( Fib Resistance), 21639 ( MA 21 days) , 22000, 22117, 22155 Support at 21300 ( trend line Support), 20800-21000 have strong Fib Support and trend line support as shown in the chart. Nifty Medium Term & long Term ( Neutral)- Can buy at 20800 -21000 level. Target Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 22500 to 18800 expected till mid of 2024. however if Q3 results are good, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments (28-Jan-24) : Earlier last 2-3 months , purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Last two weeks IT was little down but comparatively lesser than Nifty Index and nifty Bank. Simillarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last two weeks. Nifty Bank Index was suggested to buy last week. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024. In Feb, Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Infra Stocks, undervalued bluechip stocks can be considered.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-23-Jan-24 to 25-Jan-24Nifty Short , Medium & Long Term View-23-Jan-24 to 25-Jan-24 Nifty closed at 21571 21894(Prev Cloase 21710 ) and touched low & high of 21293 & 22126. RSI and stochastics levels ( 53% & 35 % Respectively). Stochastics is moving towards oversold zone. Market saw huge volatility last week of around 850 Points, especially fluctuated after results of HDFC bank. Earlier last 2-3 months , purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up. last week IT was little down along with the Nifty Index. Simillarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 5-7%.Nifty Bank Index was suggested to buy last week. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty IT had a good run in last month with expectation of growing world economic condition especially US. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up. Expectation of Q3 results especially bluechip companies, certain bank stocks market may go upwards to 22500 due to the current scenario. Profit booking upto 30% was suggested in the last 1.5 months, Cash will be useful to pick the right stocks. Stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024. In Feb, Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Infra Stocks, undervalued bluechip stocks can be considered. Nifty- Short Term ( Neutral-Moderately Bearish) Resistances are at 21650 ( MA 21 days) ,21762 (MA 7 days), 22000, 22117, 22155 Support at 21422 (fib Resistance), 21300 ( trend line Support), Nifty Medium Term & long Term ( neutral)- 22308, Can achieve 22521 target Support at 21422 ( Fib Support), 20225 (prev high), 20000 ( Fib Resistance) 20800-21000 have strong Fib Support and trend line support as shown in the chart. Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 (Fib Resistance)/22521. Long Term market expected range bound between 22500 to 18800 expected till mid of 2024. however if Q3 results are good, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance).
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-15-Jan-24 to 19-Jan-24Nifty Short , Medium & Long Term View-15-Jan-24 to 19-Jan-24 Nifty closed at 21894(Prev Cloase 21710 ) and touched low & high of 21931 & 21449. RSI and stochastics levels ( 70% & 95 % Respectively). Stochastics is in overbought zone. Market decisively closed above 21800-21850. Purchasing Nifty IT at lower levels proved effective as the Nifty IT index underperformed than other index, hence it moved up. Simillar run expected in Nifty Bank index, despite bank results were good in Q2 and expected to post good results in Q3 it didnt moved up considerably. Hence next move likely will be in Nifty Bank index. Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 ( Fib Resistance)/22521. Nifty IT had a good run in last month with expectation of growing world economic condition especially US. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up. Expectation of Q3 results especially bluechip companies, certain bank stocks market may go upwards to 22500 due to the current scenario. Profit booking upto 30% was suggested in the last month, Almost i have booked 20% profit in Equities & Mutual Funds. 100% of ulip shifted from equities to balanced funds & money market as we get free switches in ulip. Market can any time expected to turn volatile and it will continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024. In Feb, Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Infra Stocks, undervalued bluechip stocks can be considered. Q3 Results & Policy changes are need to be looked into for next year growth of Nifty. Nifty- Short Term ( Positive) Resistances are at 22000, 22155, 21308, 22521 Support at 21459 (fib Resistance), 21260 ( trend line Resistance),21000, 20800 Nifty Medium Term & long Term ( neutral)- Can achieve 22500 target Support at 20500 ( Fib Support) , 20225 ( prev high), 20000 ( Fib Resistance) Long Term market expected range bound between 22500 to 18800 expected till mid of 2024. however if Q3 results are good, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance).
NSE:NIFTY
by karthikss