Nifty Technical Analysis

Spread the Light!

Market Prediction For - 30th September 2022

[Nifty: 16818 (-0.24%) | Bank Nifty: 37647 (-0.3%)]  

Volatile trading day for the index, volatility can majorly be attributed to today being the monthly expiry. Tomorrow at 10AM, the RBI governor will read out the rate hike decision by MPC. Hence subdued opening is expected. Post the event, if RBI doesn’t follow the path paved out by FED, it is expected that the index will trend in a particular direction and we can witness NIFTY forming new highs in the coming trading sessions else Nifty can plummet down and find support between 16000-17000. Today Nifty posted an intraday loss of 0.24% despite trading in green in the first half of the trading day. The index witnessed heavy selling in the last hour as it fell from day high of 17026 to trade at an intraday low of 16788.

Bank Nifty too had a volatile trading session and similar to Nifty, it also ended the trading day in red. Since the banking index is trading below 38000 level, implying more weakness subject to RBI’s tomorrow pending decision. We expect the index to consolidate between 35000 & 40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16500-16750

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

37300-38000

Nifty in Red

Market Prediction For - 29th September 2022

[Nifty: 16858 (-0.87%) | Bank Nifty: 37759 (-1.56%)]  

Another bearish day, and 4th one in a row. The wounds are only deepening. As the bearish onslaught continues, further weakness in the indices can’t be negated. Post closure, Nifty formed a deep bearish candle in the daily timeframe which only indicates further downside before we see some sign of relief. Nifty hit a day’s low of 16820 from a day’s high of 17037 before closing on 16858. The Advance : Decline ratio of 18:32 is also worrisome as index was dragged by Metals, & Oil and Gas sectors, losing 2.61% & 2.52% respectively in a single trading day. We expect the index to consolidate between 16500 and 17200 in the few trading sessions.

Bank Nifty too had a bearish trading session and similar to Nifty, it also ended the trading day in red. Since the banking index is trading below 40000 level, implying more of weakness. We expect the index to consolidate between 37000 & 40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16650-16900

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

37400-38200

Nifty in Red

Market Prediction For - 28th September 2022

[Nifty: 17007 (-0.05%) | Bank Nifty: 38359 (-0.67%)]  

Volatile trading day for the index, this entire week it seems that the equity markets will remain volatile as the traders will remain cautious as RBI’s rate hike decision is in the pipeline. Post the event, it is expected that the index will trend in a particular direction dictated by the RBI decision. If the announcement is as per their expectations we can witness NIFTY forming new highs in the coming trading sessions else Nifty can plummet down and find support between 16200-17500. Nifty posted an intraday loss of 0.05% despite trading in green in the first half of the trading day. The index witnessed heavy selling in the last hour as it fell from day high of 17176 to trade at an intraday low of 16942. We expect the index to consolidate between 16500 and 17200 in the few trading sessions.

Bank Nifty too had a volatile trading session and similar to Nifty, it also ended the trading day in red. Since the banking index is trading below 40000 level, implying more of weakness. We expect the index to consolidate between 37000 & 40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16850-17100

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

38000-38800

Nifty in Red

Market Prediction For - 27th September 2022

[Nifty: 17016 (-1.80%) | Bank Nifty: 38616 (-2.35%)]  

Today 200DMA seems to save the day for the bulls by acting as a crucial support. Today also for the fourth consecutive time bears were in complete command, as the index plummeted past the crucial level of 17200 & traded an intraday low of 16978 on the back of weak global cues level and gave a closing just above the 200 DMA at 17016. After the hawkish Fed commentary and President Putin’s warning to the west, investors & trades await the stance of RBI expected to be out on 30th September. The Advance: Decline ratio stood at 7:43 with Realty the worst performing sector posting ~4.2% intraday loss. We expect the index to consolidate between 16800 & 17500 in the few trading sessions

Bank Nifty too had a bearish trading session, it opened on a negative note and slumped ~1000 points with an intraday low of 38492. Similar to nifty we expect the index to consolidate between 37500 – 40500.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16850-17100

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

38200-39000

Nifty in Red

Market Prediction For - 26th September 2022

[Nifty: 17327 (-1.72%) | Bank Nifty: 39546 (-2.67%)]  

Today Bears were in complete command, as the index plummeted past the crucial level of 17400 & traded an intraday low of 17291 on the back of weak global cues level and gave a closing of 17327. The hawkish Fed commentary and President Putin’s warning to the west seems to make the investors wary of the equity market. We at Adwizon believe that the buy on dip strategy needs to be executed at the present levels, and the present fall is just a correction rather than a bearish trend. The Advance: Decline ratio stood at 5:45 with Power the worst performing sector posting ~3.4% intraday loss. We expect the index to consolidate between 17000 & 17900 in the few trading sessions

Bank Nifty too had a bearish trading session, it opened on a negative note and slumped ~1200 points with an intraday low of 39412. Similar to nifty we expect the index to consolidate between 38000 – 42000.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17150-17400

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

38900-39600

Nifty in Red

Market Prediction For - 23rd September 2022

[Nifty: 17629 (-0.50%) | Bank Nifty: 40630 (-1.39%)]  

Volatile Thursday expiry for the index. Last night FED announced an increase of 75bps but along with that maintained the hawkish commentary signaling terminal rate 4.6% by end of 2023. The hawkish sentiments by the FED chairman weighed heavily on the indices today. Banking sector was one of the worst affected sectors but similar to Nifty it too recovered from its day low.  The index opened weak at 17609 and traded in a wide range of 200 points with intraday high & intraday low of 17722 & 17532 respectively. We expect the index to inch further up but initially should consolidate between 17000 and 19000 in the few trading sessions.

Bank Nifty too had a volatile trading session and similar to Nifty it also ended the trading day in red. Since the banking index is trading above 40000 level, implying more of an upside. We expect the index to consolidate between 39500 & 43000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17600-17850

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

40500-41200

Market Prediction For - 22nd September 2022

[Nifty: 17718 (-0.55%) | Bank Nifty: 41203 (-0.64%)]  

Volatile trading day for the index, today the traders were cautious as tonight FED is going announce their rate hike decision. Post the event, it is expected that the index will trend in a particular direction dictated by the FED decision. Traders & Investors have already factored in an increase of 75bps, and if the announcement is as per their expectations we can witness NIFTY forming new highs in the coming trading sessions else Nifty can plummet down and find support between 16800-17000. Nifty posted an intraday loss of 0.55% despite trading in green in the first half of the trading day. The index witnessed heavy selling in the last hour as it fell from day high of 17838 to trade at an intraday low of 17663. We expect the index to inch further up and consolidate between 17000 and 19000 in the few trading sessions.

Bank Nifty too had a volatile trading session and similar to Nifty, it also ended the trading day in red. Since the banking index is trading above 41000 level, implying more of an upside. We expect the index to consolidate between 39500 & 43000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17600-17900

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

40800-41600

Market Prediction For - 21st September 2022

[Nifty: 17816 (+1.10%) | Bank Nifty: 41468 (+1.38%)]  

Today Bulls were in complete command, as the index zoomed past the 17900 & traded an intraday high of 17919 on the back of strong global cues level and gave a closing above the crucial level of 17800. All though we witnessed some kind of profit booking in the latter half of the trading day as it slumped by ~100 points as most traders would have preferred not to carry positions before a major event. The Advance: Decline ratio stood at 44:6 with Pharma the best performing sector posting ~3.1% intraday gain. We expect the index to consolidate between 17000 & 17900 in the few trading sessions

Bank Nifty too had a bullish trading session, it opened on a positive note and gained ~560 points with an intraday high of 41667. Similar to nifty we expect the index to consolidate between 40000 – 41000.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17650-17900

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

40800-41500

Nifty in Red

Market Prediction For - 19th September 2022

[Nifty: 17503 (-1.94%) | Bank Nifty: 40776 (-1.05%)]  

Reversal of the relentlessly rising bull market or just a minor correction? Today the index witnessed a huge plunge of 350 points in a single day on the back of growing US recession fears. It opened weak at 17796 as indicated by SGX Nifty, and the selloff continued & intensified during the second half of the trading day, hitting an intraday low of 17497. The Advance: Decline ratio stood at 2:48 with IT the worst performing sectors posting 3.7% loss in a single day. We expect the index to consolidate in the coming trading sessions with 18000 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too plunged by ~700 points with Intraday High and Intraday Low of 41162 and 40502 respectively. We expect the index to consolidate between 39000 & 41000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17400-17650

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

40300-41000

Market Prediction For - 16th September 2022

[Nifty: 17877 (-0.70%) | Bank Nifty: 41209 (-0.47%)]  

The index couldn’t sustain yesterday’s momentum and exhaustion was visible since the morning session only. After opening in the morning and making a day’s high of 18096, the bears took over for major part of the day. The index was dragged to days’ low of 18761 before closing on 18782. The Advance: Decline ratio stood at 11:39 with Power & Infra being the best performing sectors posting 1.88% and 1.03% gain respectively  in a single day. We expect the index to slide further down in the coming trading sessions with 17700 as an immediate support.

Bank Nifty’s trading session was inline with the broader index today as it lost ground to bears alike Nifty. During the day, while it was a weaker day for the index, it made an  Intraday High and Intraday Low of 41840 and 41153 respectively. We expect more consolidation in the coming trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17700-17950

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

40400-41200

Nifty in Red

Market Prediction For - 15th September 2022

[Nifty: 18003 (-0.37%) | Bank Nifty: 41405 (+1.30%)]  

The weak global cues couldn’t sustain their weight on bulls today. Nifty opened weak at day’s low of 17778 but bulls immediately took over for most part of the day dragging the index to day’s high of 18091 before closing convincingly above 18k mark. The Advance: Decline ratio stood at 22:28 with Power & Banks being the best performing sectors posting 2.75% and 1.34% gain respectively  in a single day. We expect the index to inch upward towards 18500 mark in the coming trading sessions with 17700 as an immediate support.

Bank Nifty’s trading session outperformed the broader index today as it regained the lost ground much quicker and also covered some new ground inching closer to its all time high of 41829. During the day, while there was strength, the index made an  Intraday High and Intraday Low of 41626 and 40288 respectively. We expect an up move in the index in the coming trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17900-18200

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

40900-41800

Nifty Technical Analysis

Market Prediction For - 14th September 2022

[Nifty: 18070 (+0.75%) | Bank Nifty: 40873 (+0.74%)]  

Nifty closed above the crucial mark of 18000 convincingly. Post crossing the important psychological resistance of 18K, the index was consolidating for most part of the day before closing on 18067.  The Advance: Decline ratio stood at 32:16 with Agriculture being the best performing sector posting 2.85%  in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was strength, the index made an  Intraday High and Intraday Low of 40904 and 40693 respectively. We expect the index to consolidate between 39900&41500 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17750-18000

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

40100-41000

Nifty in Red

Market Prediction For - 13th September 2022

[Nifty: 17936 (+0.58%) | Bank Nifty: 40574 (+0.39%)]  

Today Nifty tried to cross the important psychological resistance of 18000 but couldn’t. While the opening session was strong and saw the rally from initial opening of 17889 to 17970, the rest of day only witnessed consolidation around these levels. The Advance: Decline ratio stood at 35:15 with Diamond & Jewelry being the best performing sector posting 2.22%  in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was strength, the index made an  Intraday High and Intraday Low of 40684 and 40377 respectively. We expect the index to consolidate between 38700&40700 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17750-18000

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

39900-40700

Nifty in Red

Market Prediction For - 12th September 2022

[Nifty: 17833 (+0.19%) | Bank Nifty: 40415 (+0.51%)]  

This week is going to be crucial in defining a clear trend. While 18000 is going to be a psychological resistance, its clear break would mean a good strong rally of around 500 – 600 points in coming trading sessions. After opening at 17551, Nifty tried making the new high in initial session but couldn’t sustain the momentum but still closed above the support of 17800. The Advance: Decline ratio stood at 26:24 with IT being the best performing sector posting 1.83%  in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was strength, the index made an  Intraday High and Intraday Low of 40685 and 40280 respectively. We expect the index to consolidate between 38500&40500 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17750-18000

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39700-40500

Market Prediction For - 9th September 2022

[Nifty: 17798 (+0.99%) | Bank Nifty: 40208 (+1.91%)]  

Riding on positive global cues markets showed strength today. After opening at 17551, Nifty consolidated in first half of the day before building on the strength and closing above the crucial level of 17800. We expect some more up move tomorrow. The Advance: Decline ratio stood at 36:13 with Construction Materials being the best performing sector posting 3.19%  in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was strength, the index made an  Intraday High and Intraday Low of 40261 and 39706 respectively. We expect the index to consolidate between 38500&40500 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17650-17900

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39700-40500

Market Prediction For - 8th September 2022

[Nifty: 17655 (-0.06%) | Bank Nifty: 39666 (-0.35%)]  

Volatility continued in the markets today. After opening at 17542, the indices witnessed consolidation for most part of the day making a day’s high of 17650 before closing at 17629. We expect some major moves tomorrow owing to expiry day. The Advance: Decline ratio stood at 27:23 with Construction being the best performing sector posting 5.07%  in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was volatility, the index made an  Intraday High and Intraday Low of 39572 and 39258 respectively. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17450-17700

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

39000-39800

Nifty in Red

Market Prediction For - 7th September 2022

[Nifty: 17655 (-0.06%) | Bank Nifty: 39666 (-0.35%)]  

Indecisiveness continued for second day in the markets with no clear signs of any direction. Morning session witnessed day’s high formation at 17764 and post that volatility took over. Post the initial high, the bears took over and dragged the indices to an intraday low of 17587. The indices saw some relief post that session in later part of the day before closing at  17651. The Advance: Decline ratio stood at 21:29 with Telecom & Power being the best performing sectors posting 2.82% and 1.58% gain respectively in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it too traded almost similar to Nifty. During the day, while there was indecisiveness, the index made an  Intraday High and Intraday Low of 40073 and 39564 respectively. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17550-17800

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39400-40200

Market Prediction For - 6th September 2022

[Nifty: 17665 (+0.72%) | Bank Nifty: 39805 (+0.98%)]  

The morning session witnessed some action and later for most part of the day the index was consolidating. It opened strong at 17551 and maintained strength for most part of the day with some consolidation. It traded at an intraday low of 17540 and intraday high of 17683 before closing at  17653. The Advance: Decline ratio stood at 36:14 with Metals & Mining the best performing sectors posting 2.17% gain in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

 Bank Nifty’s trading session was in-line with the broader index as it too traded in a narrow range of approximately 450 points with Intraday High and Intraday Low of 39865 and 39407 respectively. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17500-17750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39400-40200

Market Prediction For - 5th September 2022

[Nifty: 17539 (-0.02%) | Bank Nifty: 39421 (+0.30%)]  

Volatile trading day on the last day of the week. It opened partially strong at 1798 but it failed to find a clear direction to trade throughout the day. It traded at an intraday low of 17476 and intraday high of 17643 that is just a narrow range of 167 points on the back awaited US Jobs report tonight. The Advance: Decline ratio stood at 15:35 with Oil&Gas the worst performing sectors posting 1.8% loss in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

 Bank Nifty’s trading session was in-line with the broader index as it too traded in a narrow range of 395 points with Intraday High and Intraday Low of 39595 and 39200 respectively. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17450-17700

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39200-40000

Market Prediction For - 2nd September 2022

[Nifty: 17542 (-1.22%) | Bank Nifty: 39301 (-0.60%)]  

A day where bears and bulls had tough fight. After the initial opening at 17523, the bulls tried to regain the momentum from yesterday but couldn’t sustain that for long. Before making a day’s high of 17695, the bears took over and dragged the index to day’s low of 17468. The Advance: Decline ratio stood at 13:37 with Agri and Telecom the best performing sector posting ~3.55% and 1.16% intraday gain. We expect the index to consolidate between 17500 & 18200

Bank Nifty too resonated with Nifty in major part of the day. Similar to nifty we expect the index to consolidate between 38500 – 40500.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17450-17750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39000-39700

Market Prediction For - 1st September 2022

[Nifty: 17759 (+2.58%) | Bank Nifty: 39536 (+3.26%)]  

Today Bulls were in complete command, as the index zoomed past the 17700 level and gave a closing above the same. On the back of global strong cues, the index had opened strong at 17414 and raced towards the intraday high of 17777. This has happened just a day after markets had slumped badly on the hawkish comments by the Fed chairman. The Advance: Decline ratio stood at 50:0 with Realty and Bank Nifty the best performing sector posting ~3.5% intraday gain. We expect the index to consolidate between 17500 & 18200

Bank Nifty too had a bullish trading session, it opened on a positive note and gained ~1260 points with an intraday high of 39606. Similar to nifty we expect the index to consolidate between 38500 – 40500.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17650-17950

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39400-40100

Market Prediction For - 30th August 2022

[Nifty: 17312 (-1.40%) | Bank Nifty: 38276 (-1.82%)]  

Bears enjoyed the party today with help of weak global cues. It opened weak at 17188 and traded at an intraday low of 17166 but eventually Nifty tried to recover from its lows in the later half of the trading day. Eventually Nifty traded at an intraday high of 17380 and also managed to close above the key level of 17300 despite index slumping by ~350 points from its previous day close on the account of hawkish comments by Fed chairman Jerome Powell. The Advance: Decline ratio stood at 11:36 with IT the worst performing sector posting 3.5% loss in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

 Bank Nifty’s trading session was in-line with the broader index as it slumped by ~900 points from its previous day close. We expect the index to consolidate between 37500&39500 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17200-17450

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

37900-38600

Nifty in Red

Market Prediction For - 29th August 2022

[Nifty: 17558 (+0.21%) | Bank Nifty: 38987 (+0.09%)]  

Volatile trading day on the last day of the week. It opened strong at 17619 but gradually bears began to dominate the trading session & eventually it traded at an intraday low of 17519 on the back of weak global cues and growing anxiety over Fed minutes of the meeting. The index slumped by ~170 points from its day high. The Advance: Decline ratio stood at 35:15 with Metals and Capital Goods the best performing sectors posting 1.8% and 1.2% gain in a single day. We expect the index to consolidate in the coming trading sessions with 18200 as an immediate resistance.

 
Bank Nifty’s trading session was in-line with the broader index as it slumped by ~550 points from its day high. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

17250-17500

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

38300-39000

Nifty in Red

Market Prediction For - 26th August 2022

[Nifty: 17522 (-0.47%) | Bank Nifty: 38950 (-0.22%)]  

Volatile trading day for the index, today being the monthly expiry for the August series. Nifty posted an intraday loss of 0.47% despite trading in green in the first half of the trading day. The index witnessed heavy selling in the last hour as it fell from day high of 17726 to trade at an intraday low of 17487. Despite the sell-off, the bulls were successful in managing to keep the index above 17500 level. Realty was the best performing sector with 1.5% positive return. We expect the index to inch further up and consolidate between 17200 and 17800 in the few trading sessions.

Bank Nifty too had a volatile trading session and similar to Nifty ,it ended the trading day in red. It gave a positive closing above 38800 implying more of an upside, and hence we expect the index to consolidate between 38000 & 39500in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17400-17650

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

38700-39400

Nifty Technical Analysis

Market Prediction For - 23rd August 2022

[Nifty: 17490 (-1.51%) | Bank Nifty: 38297 (-1.77%)]  

Nifty started from where it left last trading session and witnessed heavy selling today too. It opened at 17682 and then bears were heavy weights for most part of the day.  The strength wasn’t visible through out the day as it traded at an intraday low of 1748 on the back of weak global cues and growing anxiety over US-China geopolitical tension. The index slumped by ~260 points from its opening price. The Advance: Decline ratio stood at 5:45 with Infra and Chemicals the worst performing sectors posting 3.17% and 3.7% loss in a single day. We expect the index to have more upside in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~680 points from its day high. The worst performing banking stocks of the day were Kotak Mahindra Bank & PNB. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17450-17600

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

38100-38800

Nifty Technical Analysis

Market Prediction For - 22nd August 2022

[Nifty: 17758 (-1.10%) | Bank Nifty: 38985 (-1.69%)]  

Nifty witnessed heavy selling on the last trading day of the week. It opened par at 17966 but immediately began to dominate the trading session & eventually it traded at an intraday low of 17710 on the back of weak global cues and growing anxiety over US-China geopolitical tension. The index slumped by ~250 points from its opening price. The Advance: Decline ratio stood at 23:37 with Realty and Banking the worst performing sectors posting 2.0% and 1.7% loss in a single day. We expect the index to have more upside in the coming trading sessions with 18200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~1100 points from its day high. The worst performing banking stocks of the day were Indusind Bank & Federal Bank. We expect the index to consolidate between 38000&40000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17750-17900

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

38100-38800

Nifty Technical Analysis

Market Prediction For - 19th August 2022

[Nifty: 17956 (+0.07%) | Bank Nifty: 39656 (+0.49%)]  

Volatile weekly expiry for the index. Initially the index opened lower and traded at an intraday low of 17852 but then bulls gathered strength & traded at an intraday high of 17968. Today was the third consecutive day when the index gave a positive opening above 17800 implying further upside. Depsite volatility the index managed to end the day in green posting  ~0.07% intraday gain in the daily timeframe and is only 44 points away from the 18000 mark.  The Advance: Decline ratio stood at 23:37 with IT  the worst performing sector posting -1.1% loss. We expect the index inch upwards in the coming trading sessions and consolidate between 17800 & 18200

Bank Nifty too was one of the subdued sectors as it traded in a 400 points range. We expect more upside in the index with 39000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17850-18050

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39200-39900

Nifty Technical Analysis

Market Prediction For - 18th August 2022

[Nifty: 17944 (+0.67%) | Bank Nifty: 39461 (+0.57%)]  

Relentless Bull run continues. The index easily surpassed the crucial level of 17900 and gave a positive closing above the same. The key index Nifty posted a ~0.67% gain in the daily timeframe and is only 56 points away from the 18000 mark. Today it opened strong at 17868 and eventually traded at an intraday high of 17965. The Advance: Decline ratio stood at 34:16 with PSU Bank the best performing sector posting 2.5% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 17800 & 18200

Bank Nifty too was one of the best performing sector as it traded at an intraday high of 39504 after opening strong at 39351. We expect more upside in the index with 39000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17800-18000

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39200-39900

Nifty Technical Analysis

Market Prediction For - 17th August 2022

[Nifty: 17825 (+0.72%) | Bank Nifty: 39239 (+0.51%)]  

Riding on high momentum bulls easily surpassed the crucial level of 17800 and gave a positive closing above the same. The key index Nifty posted a ~0.72% gain in the daily timeframe and has grown ~18% from its previous swing low. Today it opened strong at 17797 and eventually traded at an intraday high of 17839. The Advance: Decline ratio stood at 42:08 with Auto the best performing sector posting 2.5% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 17500 & 18200

Bank Nifty too was one of the best performing sectors as it traded at an intraday high of 39444 after opening strong at 39284. We expect more upside in the index with 39000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses0

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17700-17950

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

39000-39800

Nifty Technical Analysis

Market Prediction For - 12th August 2022

[Nifty: 17659 (+0.71%) | Bank Nifty: 38879 (+1.55%)]  

After a gap up opening at 17711, Nifty was consolidating for most part of the day. Although there was no significant movement in the index, bears seem to weighing down the bulls. Nifty, closed at 17640, before making a day’s low of 17632. The Advance: Decline ratio stood at 30:20 with Finance and IT being the best performing sector posting 1.97% & 1.67% as gain respectively. We expect the index to inch further up in the upcoming trading sessions.

Bank Nifty too resonated with Nifty as it also had a gap up opening and unlike Nifty, the Banking indices help up the momentum. After making a day’s low of 38652, it closed at 38835 before making a day’s high of 38900. We expect more upside in the index with 37000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17550-17750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

38300-39100

Nifty Technical Analysis

Market Prediction For - 11th August 2022

[Nifty: 17534 (+0.06%) | Bank Nifty: 38287 (+0.13%)]  

Volatile trading day for the index, Nifty posted an intraday gain of 0.06%. Today it had a sideways to bullish trading session, and the bulls were successful in managing to keep the index above 17500 level. The index opened at par at 17566, and initially slipped to an intraday low of 17442 but in the second half it traded at an intraday high of 17566. Capital Goods was the best performing sector with 1.26% positive return. We expect the index to inch further up and consolidate between 17200 and 17800 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session and it gave a positive closing above 38000 implying more of an upside. Similar to nifty we expect the index to consolidate between 37500 & 39000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17500-17750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

38200-39000

Nifty Technical Analysis

Market Prediction For - 10th August 2022

[Nifty: 17525 (+0.73%) | Bank Nifty: 38237 (+0.84%)]  

Bulls did majority of the weight lifting during the last trading session and the momentum seems to catalyze them their advances further. Nifty, after making the day’s low of 17361, bulls took over the bears and drove the indices to 17547 before setting down at 17525. The Advance: Decline ratio stood at 33:17 with Finance and Metals & Mining being the best performing sector posting 1.47% & 1.36% as gain respectively. We expect the index to inch further up in the upcoming trading sessions.

Bank Nifty too resonated with Nifty as bulls took over after the initial blip making a day’s low of 37684 and finally settled at 38237. We expect more upside in the index with 37000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17450-17650

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

37800-38650

Nifty Technical Analysis

Market Prediction For - 3rd August 2022

[Nifty: 17158 (+1.35%) | Bank Nifty: 37491  (+0.31%)] 

Bulls maintained their grip on the market as Nifty continued its upward trend. It continues to trade above the crucial level of 17200 implying further upside. Today Nifty posted a ~1.06% gain in the daily timeframe and started the Month of August on a positive note. Today it opened strong at 17243 and eventually traded at an intraday high of 17356. The Advance: Decline ratio stood at 38:12 with Auto the best performing sector posting 3.3% gains. We expect the index to inch further up in the coming trading sessions and consolidate between 17500 & 16500

Bank Nifty too was one of the best performing sectors as it traded at an intraday high of 37939 after opening strong at 37717. We expect more upside in the index with 37000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17250-17500

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

37700-38750

Nifty Technical Analysis

Market Prediction For - 2nd August 2022

[Nifty: 17158 (+1.35%) | Bank Nifty: 37491  (+0.31%)] 

Bulls maintained their grip on the market as Nifty continued its upward trend. It continues to trade above the crucial level of 17200 implying further upside. Today Nifty posted a ~1.06% gain in the daily timeframe and started the Month of August on a positive note. Today it opened strong at 17243 and eventually traded at an intraday high of 17356. The Advance: Decline ratio stood at 38:12 with Auto the best performing sector posting 3.3% gains. We expect the index to inch further up in the coming trading sessions and consolidate between 17500 & 16500

Bank Nifty too was one of the best performing sectors as it traded at an intraday high of 37939 after opening strong at 37717. We expect more upside in the index with 37000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17200-17450

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

37500-38250

Nifty Technical Analysis

Market Prediction For - 1st August 2022

[Nifty: 17158 (+1.35%) | Bank Nifty: 37491 (+0.31%)] 

Riding on high momentum bulls easily surpassed the crucial level of 17000 and gave a positive closing above 17150. The key index Nifty posted a ~1.4% gain in the daily timeframe and 2.62% gain in the weekly timeframe. Today it opened strong at 17079 and eventually traded at an intraday high of 17172. The Advance: Decline ratio stood at 41:08 with Metals the best performing sector posting 3.9% gains. We expect the index to inch further up in the coming trading sessions and consolidate between 17500 & 16500

Bank Nifty too was one of the best performing sectors as it traded at an intraday high of 37757 after opening strong at 37717. We expect more upside in the index with 37000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

17000-17250

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

37200-37900

Nifty Technical Analysis

Market Prediction For - 29th July 2022

[Nifty: 16929 (+1.73%) | Bank Nifty: 37378  (+1.62%)] 

A 75bps increase in the rate of interest by the Fed along with positive assurance of the US being able to avoid the recession instills positive sentiments across the global markets. This positive energy affected the Indian markets as well, Today it had a sideways to bullish trading session, and the bulls inched the index close to the crucial level of 17000. The index opened strong at 16774, and managed to trade at an intraday high of 16947. IT was the best performing sector with a 2.8% positive return. We expect the index to consolidate between 16500 and 17200 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session and traded at an intraday high of 37414. Similar to nifty we expect the index to consolidate between 36000 & 39000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16900-17150

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

37000-37700

Nifty Technical Analysis

Market Prediction For - 28th July 2022

[Nifty: 16641 (+0.96%) | Bank Nifty: 36783  (+1.03%)] 

The US Fed meeting is scheduled for tonight, with the capital markets already having factored in 75bps. This event can help the indices find a proper direction going forward. Today it had a sideways to bullish trading session, and the bulls once again were successful in managing to push the index below 16600 level. The index opened at par at 16475, and managed to trade at an intraday high of 16653. Pharma was the best performing sector with 2.3% positive return. We expect the index to consolidate between 16200 and 17000 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session and is comfortably above 36500 level implying positive bias. Similar to nifty we expect the index to consolidate between 35000 & 37000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16450-16700

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

36200-36900

Nifty in Red

Market Prediction For - 27th July 2022

[Nifty: 16483 (0.88%) | Bank Nifty: 36408 (0.87%)] 

Bearish Tuesday for the index, as it posted an intraday loss of 0.88%. Today it had a sideways to bearish trading session, and the bears were successful in managing to pull the index below 16500 level. The index opened at par at 16632, and managed to trade at an intraday high of 16636 only but in the second half of the trading day it traded at an intraday low of 16463. IT was the worst performing sector with 2.8% negative return. We expect the index to consolidate between 16200 and 17000 in the few trading sessions.

Bank Nifty too had a sideways to bearish trading session but it still managed to give a closing above 36000 implying positive bias. Similar to nifty we expect the index to consolidate between 35000 & 36800 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16250-16500

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

36000-36800

Nifty in Red

Market Prediction For - 26th July 2022

[Nifty: 16631 (0.53%) | Bank Nifty: 36726  (-0.03%)] 

Volatile Monday for the index, as it posted an intraday loss of 0.53%. Today it had a sideways to bearish trading session, but despite that the bulls were successful in managing to keep the index above 16600 level. The index opened at par at 16662, and managed to trade at an intraday high of 16706 but in the second half it traded at an intraday low of 16564. Auto was the worst performing sector with 1.5% negative return. We expect the index to inch further up and consolidate between 16200 and 17000 in the few trading sessions.

Bank Nifty too had a sideways to bearish trading session but it gave a positive closing above 36000 implying more of an upside. Similar to nifty we expect the index to consolidate between 35000 & 36800 in the few trading sessions

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16450-16700

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

36200-37000

Nifty in Red

Market Prediction For - 25th July 2022

[Nifty: 16719 (+0.69%) | Bank Nifty: 36738  (+1.49%)] 

Are the bulls back? Or is it just a correction to the much anticipated bear market? Today the key index Nifty had a Bullish trading session and posted a ~4.2% gain in the weekly timeframe. Currently bulls are having positive momentum since they recaptured the 16500 crucial level. Today it opened strong at 16661 and eventually traded at an intraday high of 16752. They even managed to close the index above 16700. The Advance: Decline ratio stood at 32:18 with banking the best performing sector posting 1.5% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 17200 & 16500

Bank Nifty was the best performing sector as it traded at an intraday high of 36787. We expect more upside in the index with 36000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16550-16800

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

36500-37150

Nifty Technical Analysis

Market Prediction For - 22nd July 2022

[Nifty: 16605 (+0.51%) | Bank Nifty: 36201  (+0.64%)] 

Volatile weekly expiry for the index, Nifty posted an intraday gain of 0.51%. Today it had a sideways to bullish trading session, and the bulls were successful in managing to keep the index above 16500 level. The index opened at par at 16523, and initially slipped to an intraday low of 16483 but in the second half it traded at an intraday low of 16626. Capital Goods was the best performing sector with 2.1% positive return. We expect the index to inch further up and consolidate between 16500 and 17000 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session and it gave a positive closing above 36000 implying more of an upside. Similar to nifty we expect the index to consolidate between 35000 & 36800 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16500-16750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35900-36600

Nifty Technical Analysis

Market Prediction For - 21th July 2022

[Nifty: 16520 (+1.10%) | Bank Nifty: 35972  (+0.70%)] 

Bullish trading session for Nifty, as bulls recaptured the 16500 crucial level. It opened strong at 16562 and eventually traded at an intraday high of 16588. In the latter half of the day, bulls seemed to tire out but eventually managed to close the index above 16500. The Advance: Decline ratio stood at 36:14 with IT and FMCG sectors the best performing sectors posting 2.9% and 1.1% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 17000 & 16200

Bank Nifty’s trading session was in-line with the broader index as it ended its trading day in green. We expect more upside in the index with 35000 as the immediate support

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16250-16500

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

35200-36000

Nifty in Red

Market Prediction For - 20th July 2022

[Nifty: 16340 (+0.38%) | Bank Nifty: 35720  (+1.02%)] 

After opening at 16187, Bulls took over the charge to drive the momentum in most part of the day hitting a day’s high of 16359  before closing on 16329. The Advance: Decline ratio stood at 32:18 with Telecom and Construction Material sectors the best performing sectors posting 1.49% and 1.24% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 16600 & 16200

Bank Nifty’s trading session was in-line with the broader index as it ended its trading day in green. We expect more upside in the index with 34000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16200-16450

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35500-36200

Nifty Technical Analysis

Market Prediction For - 19th July 2022

[Nifty: 16278 (+1.43%) | Bank Nifty: 35358  (+1.95%)] 

Bullish trading session for Nifty, as bulls recaptured the 16200 crucial level. It opened strong at 16151 and eventually traded at an intraday high of 16287. The Advance: Decline ratio stood at 42:8 with IT and Bank Nifty sectors the best performing sectors posting 3.2% and 2.0% gains. We expect the index inch upwards in the coming trading sessions and consolidate between 16400 & 15800

Bank Nifty’s trading session was in-line with the broader index as it ended its trading day in green. We expect more upside in the index with 34000 as the immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16100-16350

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35100-35700

Nifty Technical Analysis

Market Prediction For - 18th July 2022

[Nifty: 16049 (+0.69%) | Bank Nifty: 34682   (+0.09%)] 

Volatile trading week for the index day for the index, Nifty posted weekly loss of 1.06%. Today it had a sideways to bullish trading session, and the bulls were successful in managing to push the index above 16000 level. The index opened at 16010 and traded at an intraday low of 15927 but gradually recovered to trade at an intraday high of 16066. Auto was the best performing sector with 2.0% return. We expect the index to consolidate between 15800 and 16200 in the few trading sessions.

Bank Nifty had a sideways to bullish trading session and it posted a weekly loss of 1.26%. Similar to nifty we expect the index to consolidate between 34000 & 36000 in the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15950-16200

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

34100-34800

Nifty in Red

Market Prediction For - 15th July 2022

[Nifty: 15938 (0.18%) | Bank Nifty: 34651  (0.51%)] 

Bears continue to dominate the Indian bourses. Today Nifty opened at par at 16018 and traded at an intraday high of 16070, but it found resistance and tumbled down to trade at an intraday low of 15858. But it is expected that the index will find support at its crucial level of 15800. As reiterated in the previous newsletter till the time, the index is above 15800 level buy on dips strategy is recommended with 17000 as the crucial resistance. Advance: Decline ratio was at 20:30 with IT the worst performing sector with 1.6% loss. We expect the index to trade between 15500 &16200 in the few trading sessions.

Bank Nifty too had a sideways to bearish trading session and traded at an intraday low of 34558. Similar to nifty we expect the index to consolidate between 34000 & 36000

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15700-15950

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34300-35000

Nifty Technical Analysis

Market Prediction For - 14th July 2022

[Nifty: 15966 (-0.57%) | Bank Nifty: 34827   (-0.87%)] 

Bears were successful in pulling down the index below the 16000 level. But as reiterated in the previous newsletter till the time, the index is above 15800 level buy on dips strategy is recommended with 17000 as the crucial resistance. Today Nifty opened weak at 16128 and traded at an intraday low of 15950, but it is expected to find support at its crucial level of 15800. Advance: Decline ratio was at 28:22 with Energy the worst performing sector with 1.5% loss. We expect the index to trade between 15800 &16500 in the few trading sessions.

Bank Nifty too had a sideways to bearish trading session and traded at an intraday low of 34757. Similar to nifty we expect the index to consolidate between 34500 & 36000

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15800-16050

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34500-35200

Nifty Technical Analysis

Market Prediction For - 13th July 2022

[Nifty: 16058 (0.97%) | Bank Nifty: 35132    (0.95%)] 

A slight correction for the index as it slips back to the 16000 level as the bulls are finding it difficult to surpass the 16200 mark. But till the time, the index is above 15800 level buy on dips strategy is recommended with 17000 as the crucial resistance. Today Nifty opened weak at 16126 and traded at an intraday low of 16031, but eventually found support around 16000. Advance: Decline ratio was at 7:43 with Metals the worst performing sector with 1.2% loss. We expect the index to trade between 16000 &16500 in the few trading sessions.

Bank Nifty too had a sideways to bearish trading session but it found support at the crucial level of 35000 after trading at an intraday low of 35047. Similar to nifty we expect the index to consolidate between 35000 & 36000

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16000-16250

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35000-35700

Nifty Technical Analysis

Market Prediction For - 12th July 2022

[Nifty: 16216 (0.03%) | Bank Nifty: 35469  (+0.98%)] 

It seems bulls are gaining confidence as the index is hovering around 16200 levels. It opened weak and traded at an intraday low of  16115 but bounced back to trade at an intraday high 16248. Advance: Decline ratio was at 30:20 with Oil&Gas the best performing sector with 1.8% gain. We expect the index to trade between 16000 &16400 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session. Similar to nifty we expect the index to consolidate between 35000 & 36000

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16150-16350

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35200-35800

Nifty Technical Analysis

Market Prediction For - 8th July 2022

[Nifty: 16132 (+0.89%) | Bank Nifty: 34920   (+1.74%)] 

Nifty witnessed a sharp upsurge in the second half of the day as it traded at an intraday high of 16150 after having a positive opening at 16113. Advance: Decline ratio was at 39:11 with Metals the best performing sector with 3.8% gain. We expect the index to inch further up and trade between 16100 &16400 in the few trading sessions, before commencing its downward trend.

Bank Nifty too had a  bullish trading session. It was one of the best performing sectors with 1.7% intraday gain. Similar to nifty we expect the index to consolidate between 34000 & 35200 before commencing its downward leg.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16000-16250

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34500-35200

Nifty Technical Analysis

Market Prediction For - 7th July 2022

[Nifty: 15989 (+1.13%) | Bank Nifty: 34324  (+1.50%)] 

Bulls again tried to breach 16K mark for the second time in a month and the momentum helped them close at 15989. With The Advance: Decline ratio of 40:10, we see further upside possible in coming trading sessions. Finance was best performing sector today with 3.06% upside. After the fluctuating opening, the bulls picked up momentum after hitting the intraday low of 15801.

Bank Nifty too had a bullish trading session, it opened on a positive note and went on to hit intraday high of 34388. The best performing banking stocks of the day were AU Small Bank & Kotak Mahindra. Similar to nifty we expect further upside in the index before it commences its downward leg.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15900-16150

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34000-34700

Nifty Technical Analysis

Market Prediction For - 6th July 2022

[Nifty: 15810 (0.15%) | Bank Nifty: 33815   (-0.37%)] 

Bulls for the first time in a month crossed the 16000 mark but failed to maintain the momentum as the index slumped ~250 points from its intraday high of 16025 to trade at an intraday low of 15785. The Advance: Decline ratio stood at 22:28 with IT the worst performing sector posting -0.7% loss. We expect the index to consolidate between 15800 & 16200 before heading downwards with 16200 as a crucial resistance

Bank Nifty too had a bearish trading session, it opened on a positive note but slumped to an intraday low of 33757. The worst performing banking stocks of the day were IDFC First Bank & AU Small Bank. Similar to nifty we expect the index to consolidate and then commence its downward leg with 34500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15650-15900

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33500-34200

Nifty Technical Analysis

Market Prediction For - 5th July 2022

[Nifty: 15835 (+0.53%) | Bank Nifty: 33940  (+1.20%)] 

Nifty witnessed a up turn  after the initial drop to 15662. The index opened at 15735 and slumped to trade at an intraday low of 15661.8 but immediately found support around 15650 and bounced back to trade at an intraday high of 15852. Advance: Decline ratio was at 36:14 with FMCG the best performing sector with 3.13% gain. We expect the index to trade between 15500 &16200 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session. Similar to nifty we expect the index to consolidate between 32500 & 34500 before commencing its downward leg.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15750-16000

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33750-34400

Nifty Technical Analysis

Market Prediction For - 4th July 2022

[Nifty: 15752 (0.18%) | Bank Nifty: 33539   (+0.34%)] 

Nifty witnessed a sharp drop and immediately recovered to end its trading day in green. The index opened at 15703 and slumped to trade at an intraday low of 15511 but immediately found support around 15500 and bounced back to trade at an intraday high of 15793. Advance: Decline ratio was at 38:12 with FMCG the best performing sector with 2.8% gain. We expect the index to trade between 15500 &16200 in the few trading sessions.

Bank Nifty too had a sideways to bullish trading session. Similar to nifty we expect the index to consolidate between 32500 & 34500 before commencing its downward leg.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15700-15950

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33400-34100

Nifty Technical Analysis

Market Prediction For - 1st July 2022

[Nifty: 15780 (-0.12%) | Bank Nifty: 33425  (+0.47%)] 

Nifty witnessed yet another volatile monthly expiry day. It had a sideways to bearish trading session. The bulls were unsuccessful in keeping the index above 15800 level. The index opened at 15774 and traded in a 100 points range throughout the trading day. Advance: Decline ratio was at 15:35 with Metals the worst performing sector with -2.0% loss. We expect the index to breach the 15500 level in the few trading sessions with 15950 as a crucial resistance.

Bank Nifty had a sideways to bullish trading session. Similar to nifty we expect the index to consolidate before commencing its downward leg with 34000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15550-15800

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32900-33600

Nifty in Red

Market Prediction For - 30th June 2022

[Nifty: 15779 (-0.21%) | Bank Nifty: 33269   (-1.60%)] 

It seems Nifty is struggling to find a clear trading direction. The trading day was predominantly dominated by bears today. It opened weak at 15701 but then immediately bounced by ~150 points to trade at an intraday high 15861. Though again Nifty failed to surpass 15900 and eventually closed just under 15800. The Advance: Decline ratio stood at 17:33 with IT the worst performing sector posting -1.3% return. We expect the index trade between 15300 & 15900 before pulling downwards with 16200 as a crucial resistance

Bank Nifty had a bearish trading session, it opened on a negative note and slumped to an intraday low of 33185. The worst performing banking stocks of the day were AU Small Bank & Bandhan Bank. Similar to nifty we expect the index to consolidate and then commence its downward leg with 34000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15600-15850

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32600-33300

Nifty in Red

Market Prediction For - 29th June 2022

[Nifty: 15850 (+0.11%) | Bank Nifty: 33642               (-0.50%)] 

Volatile day for the index had a sideways to bullish trading session, but the bulls were successful in managing to keep the index above 15800 level. The index opened at 15757 and traded at an intraday low of 15710 but rallied immediately to an intraday high of 15892. Currently 15900 is acting as an immediate resistance, more upside is to be expected once it is surpassed. Today Advance: Decline ratio was at 31:19 with Oil&Gas the best performing sector with 2.5% intraday return.

Bank Nifty had a sideways to bearish trading session. We expect the index to consolidate between 33500&34500 before commencing its downward leg with 34500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15750-16000

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33500-34200

Market Prediction For - 28th June 2022

[Nifty: 15832 (0.85%) | Bank Nifty: 33811  (0.55%)] 

Bullish trading session for Nifty, as bulls recaptured the 15800 crucial level. It opened strong at 15926 and eventually traded at an intraday high of 15927 but 16000 acted as an important resistance as nifty fell by ~115 points to trade at an intraday low of 15815. The Advance: Decline ratio stood at 39:11 with Capital Goods and IT sectors the best performing sectors posting 2.3% and 2.1% intraday gains. We expect the index inch slightly upwards in the coming trading sessions before it commences its downward leg with key resistance at 16200

Bank Nifty’s trading session was in-line with the broader index as it ended its trading day in green. We expect more upside in the index with 34600 as the immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15750-16000

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33500-34200

Market Prediction For - 24th June 2022

[Nifty: 15556 (0.93%) | Bank Nifty: 33135  (0.88%)] 

Volatile expiry day for the index it had a sideways to bullish trading session, and the bulls were successful in managing to push the index above 15500 level. The index opened at 15451 and traded at an intraday high of 15628 and slumped immediately to an intraday low of 15367 but 15300 acted as an immediate support and the index closed at 15556. Auto was the best performing sector with 4.5% return. We expect the index to consolidate before commencing its downward leg with 16200 as a crucial resistance.

Bank Nifty had a sideways to bullish trading session. Similar to nifty we expect the index to consolidate before commencing its downward leg with 34500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15500-15750

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33000-33800

Market Prediction For - 23rd June 2022

[Nifty: 15413 (-1.44%) | Bank Nifty: 32845  (-1.04%)] 

Bear dominated trading session as the index slumped ~250 points from its previous day close of 15638 and the bears managed to pull down the index under the 15500 level. The index opened weak at 15545 and eventually traded at an intraday low of 15385. The Advance: Decline ratio stood at 6:44 with Metals the worst performing sector posting -4.0% return. We expect the index trade between 15300 & 15900 before pulling downwards with 16000 as a crucial resistance

Bank Nifty had a bearish trading session, it opened on a negative note and slumped to an intraday low of 32758. The worst performing banking stocks of the day were IDFC First Bank & Indusind. Similar to nifty we expect the index to consolidate and then commence its downward leg with 34500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15350-15600

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

32600-33300

Market Prediction For - 22nd June 2022

[Nifty: 15638 (1.88%) | Bank Nifty: 33191  (1.55%)] 

Bullish trading session for Nifty. It opened strong at 15455 and eventually traded at an intraday high of 15707. The significant rise can be considered a relief rally after the index had been falling for five consecutive days. The Advance: Decline ratio stood at 49:1 with Oil&Gas posting maximum gains among the key sectors. We expect the index inch upwards in the coming trading sessions before it commences its downward leg

Bank Nifty’s trading session was in-line with the broader index it posted an increase of ~1000 points from its previous day close. We expect more upside in the index with 35000 as the immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15650-15900

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

32800-33500

Market Prediction For - 21st June 2022

[Nifty: 15350 (0.37%) | Bank Nifty: 32684  (-0.18%)] 

Sideways to bullish weekly trading session for the index, and the bulls were successful in managing to push the index above 15300 level. The index opened at 15334 and traded at an intraday low of 15191 but 15200 acted as an immediate support and the index bounced up ~200 points to trade at an intraday high of 15382. Metals & Oil&Gas were the worst performing sectors with -3.9% and -3.5% return respectively. We expect the index to consolidate before commencing its downward leg with 15500 as a crucial resistance.

Bank Nifty had a sideways to negative trading session as it traded in a 500 points intraday range. Similar to nifty we expect the index to consolidate before commencing its downward leg with 34000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15150-15400

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

32300-33000

Market Prediction For - 20th June 2022

[Nifty: 15294 (-0.44%) | Bank Nifty: 32743  (+0.39%)] 

Partially bear dominated trading session as the index traded sideways to negative and formed a doji candlestick pattern. The index opened at 15180 and eventually traded in a ~220 points range throughout the trading day with intraday low of 16567 & intraday high of 15400. The Advance: Decline ratio stood at 12:38 with Oil&Gas & Pharma sectors the worst posting -3.1% & -2.2% return respectively. We expect the index to inch downwards with 15500 as a crucial resistance

Bank Nifty had a sideways to bullish trading session, it opened on a negative note but pulled upwards to trade at an intraday high of 32889. The best performing banking stocks of the day were ICICI Bank & HDFC Bank. Similar to nifty we expect the index to commence its downward leg with 33500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15150-15400

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32300-33000

Nifty in Red

Market Prediction For - 17th June 2022

[Nifty: 15360 (-2.11%) | Bank Nifty: 32617  (-2.17%)] 

Bears dominated the trading session for the Nifty today. It opened strong at 15832 and eventually traded at an intraday high of 15863 on the back of 0.75% increase of interest rate by US Fed and forecasted inflation of 2% for the year 2023. The Advance: Decline ratio stood at 3:47 with metal & realty sectors the worst posting -5.2% & -2.8% returns respectively. We expect the index to have more downside in the coming trading sessions with 16000 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~1200points in a single day. The worst performing banking stocks today were Indusind Bank & Kotak Bank with ~-4% and ~-3.5% returns respectively. We expect more downside in the index with 33000 as an immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15200-15500

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32200-33000

Nifty in Red

Market Prediction For - 16th June 2022

[Nifty: 15692 (0.25%) | Bank Nifty: 33339  (+0.08%)] 

Subdued trading session for Nifty. It opened at 15783 and eventually traded at an intraday high of 15783 but the bulls lost their momentum in the second half of the trading day as the index closed at 15692. Bears were able to close the index below 15700 just a day before when US Fed minutes of the meeting were to be released. at The Advance: Decline ratio stood at 24:26 with Power the worst performing sector with -0.9% return in a single day. We expect the index trade between 15600 & 15800 before pulling downwards with 16200 as a crucial resistance.

Bank Nifty had a sideways to positive trading session as it posted 0.08% intraday return. The best performing banking stocks were AU Small Bank & SBI. We expect the index to trade between 33000 & 34000 in the coming few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15550-15750

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32900-33700

Nifty in Red

Market Prediction For - 15th June 2022

[Nifty: 15732 (-0.27%) | Bank Nifty: 33311               (-0.28%)] 

Volatile trading session for Nifty. It opened at 15674 and eventually traded at an intraday high of 15858 but the bulls lost their momentum in the second half of the trading day as the index closed at 16732. The Advance: Decline ratio stood at 25:25 with Oil&Gas the worst performing sector with -1.1% return in a single day. We expect the index trade between 15600 & 15800 before pulling downwards with 16000 as a crucial resistance.

Bank Nifty had a sideways to negative trading session as it posted -0.28% intraday return. The best performing banking stocks were AU Small Bank & Bandhan Bank. We expect the index to consolidate before it inches lower with 34000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15600-15850

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33200-33800

Nifty Technical Analysis

Market Prediction For - 14th June 2022

[Nifty: 15774 (2.64%) | Bank Nifty: 33405  (-3.13%)] 

Nifty witnessed heavy selling on the first trading day of the week. It opened weak at 15877 and eventually traded at an intraday low of 15684 on the back of weak global cues and 41 year record high US inflation data. The index slumped by ~500 points from its previous day closing price of 16172. The Advance: Decline ratio stood at 02:48 with IT and Metals the worst sectors posting   -4.1% and -3.9% return in a single day. We expect the index to have more downside in the coming trading sessions with 16000 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~1200 points from its previous day close. The worst performing banking stocks of the day were Indusind Bank & Bandhan Bank. We expect more downside in the index with 34200 as an immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15550-15800

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33000-33800

Nifty in Red

Market Prediction For - 13th June 2022

[Nifty: 16201 (1.68%) | Bank Nifty: 34483  (-1.71%)] 

Nifty witnessed heavy selling on the last trading day of the week. It opened weak at 16283 and eventually traded at an intraday low of 16172 on the back of weak global cues and increasing crude prices. The index slumped by ~300 points from its previous day closing price of 16478. The Advance: Decline ratio stood at 16:34 with IT and Oil&Gas the worst sectors posting -2.2% and -2.1% return in a single day. We expect the index to have more downside in the coming trading sessions with 16500 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~800 points from its previous day close. The worst performing banking stocks of the day were Federal Bank & Bank of Baroda. We expect more downside in the index with 35000 as an immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16000-16300

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

34000-34800

Nifty in Red

Market Prediction For - 10th June 2022

[Nifty: 16478 (+0.74%) | Bank Nifty: 35085  (+0.40%)] 

Sideways to bullish weekly expiry session for the index, and the bulls were successful in managing to push the index close to 16500 level. The index opened weak at 16263 and traded at an intraday low of 16243 but 16200 acted as an immediate support and the index bounced up ~250 points to trade at an intraday high of 16492. The Advance: Decline ratio stood at 36:14 with Oil&Gas & Pharma the best performing sectors with 1.8% and 1.2% return respectively. We expect the index to commence its downward leg with 16700 as a crucial resistance.

Bank Nifty too had sideways to a bullish trading session as it traded in a 500 points intraday range. The best performing banking stocks of the day were Bank of Baroda & Kotak Bank. Similar to nifty we expect the index to commence its downward leg with 35700 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16300-16550

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

34700-35500

Nifty in Red

Market Prediction For - 9th June 2022

[Nifty: 16356 (0.37%) | Bank Nifty: 34946 (0.14%)] 

Interest rate hike of 50bps by the RBI governor didn’t go well with capital markets. It opened at 16474 and it immediately rallied ~200 points post the RBI announcement to an intraday high of 16514. But the bulls party was short lived as bears were successful in pulling the index down to the crucial mark of 16350. Today the FMCG and the Oil&Gas were the worst performing sectors with -1% return each. We expect the index to inch downwards with 16600 as immediate resistance.

Bank Nifty in line with Nifty too rallied after the RBI announcement but eventually got in the grips of bears during the second half of the trading day. We expect more downside in the index with 35500 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16300-16550

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34700-35500

Market Prediction For - 8th June 2022

[Nifty: 16416 (0.92%) | Bank Nifty: 34996  (0.89%)] 

Nifty witnessed selling a day before RBI’s announcement on interest rates. It opened weak at 15469 and eventually traded at an intraday low of 16347 on the back of uncertainty due to upcoming RBI policy. The Advance: Decline ratio stood at 13:37 with Realty and Pharma the worst sector posting -1.7% and -1.1% return in a single day. We expect the index trade between 16300 & 16800 before pulling downwards with 17000 as a crucial resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~700 points from its intraday high. The worst performing banking stocks of the day were HDFC Bank & ICICI Bank. We expect the index to consolidate between 35000 & 36000 with 36600 as resistance before heading in the downward direction.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16300-16550

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34800-35600

Market Prediction For - 7th June 2022

[Nifty: 16569 (0.09%) | Bank Nifty: 35310  (+0.10%)] 

Volatile trading session for Nifty. It opened at 16530 and eventually traded at an intraday high of 16610 as the bulls were attempting to gain little momentum in the second half of the trading day. Though Nifty had traded at an intraday low of 16444 in the first hour of trading itself. The Advance: Decline ratio stood at 22:28 with Metals the best performing sectors with 1.1% return. We expect the index trade between 16300 & 16800 before pulling downwards with 17000 as a crucial resistance.

Bank Nifty had a sideways to positive trading session as it posted +0.1% intraday return. The best performing banking stocks were Federal Bank & Bandhan Bank. We expect the index to consolidate with 36600 as immediate resistance before heading in the downward direction.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16550-16800

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35000-35800

Market Prediction For - 6th June 2022

[Nifty: 16584 (0.26%) | Bank Nifty: 35275  (-0.95%)] 

The bears today dominated the trading session as the index slumped ~200 points from its day high of 16793 and the bears managed to pull down the index under the 16600 level. The index opened strong at 16793 and eventually traded at an intraday low of 16567. The Advance: Decline ratio stood at 12:38 with Power & Auto sectors the worst posting -2.4% & -1.8% return respectively. We expect the index trade between 16300 & 16800 before pulling downwards with 17000 as a crucial resistance

Bank Nifty had a bearish trading session, it opened on a positive note and slumped ~800 traded to trade at an intraday low of 35175. The worst performing banking stocks of the day were AU Small Bank & Bandhan Bank. Similar to nifty we expect the index to commence its downward leg with 36700 as immediate  resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16550-16800

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35000-35800

Market Prediction For - 3rd June 2022

[Nifty: 16628 (+0.64%) | Bank Nifty: 35613           (0.02%)] 

Sideways to bullish weekly expiry session for the index, and the bulls were successful in managing to close the index above 16600. The index opened at 16481 and traded at an intraday low of 16443 but 16400 acted as an immediate support and the index bounced up ~200 points to trade at an intraday high of 16646. The Advance: Decline ratio stood at 28:22 with Oil&Gas & IT the best performing sectors with 2.1% and 1.8% return respectively. We expect the index to trade between 16400 & 16800 before pulling downwards with 17000 as a crucial resistance.

Bank Nifty had a subdued trading session as it traded in a 300 points intraday range. The best performing banking stocks of the day were Axis Bank & SBI. Similar to nifty we expect the index to commence its downward leg with 36700 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16550-16800

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35300-36100

Market Prediction For - 2nd June 2022

[Nifty: 16522 (0.37%) | Bank Nifty: 35620   (0.38%)] 

Volatile trading session for Nifty. It opened at 16594 and eventually traded at an intraday high of 16649 but the bulls lost their momentum in the second half of the trading day as Nifty traded at an intraday low of 16438. The Advance: Decline ratio stood at 17:33 with IT & Pharma the worst performing sectors with -1.4% and -1.3% return respectively. We expect the index trade between 16300 & 16800 before pulling downwards with 17000 as a crucial resistance.

Bank Nifty had a sideways to positive trading session as it posted 0.4% intraday return. The best performing banking stocks were AU Small Bank & Bandhan Bank. We expect the index to trade between 35500 and 36600 for the next couple of trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16450-16700

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35500-36300

Market Prediction For - 1st June 2022

[Nifty: 16584 (0.46%) | Bank Nifty: 35487   (0.95%)] 

Volatile trading session for Nifty. It opened at 16578 and eventually traded at an intraday high of 16690 but the bulls lost their momentum in the second half of the trading day as Nifty traded at an intraday low of 16521. The Advance: Decline ratio stood at 28:22 with Realty & Metals the best performing sectors with 2.0% and 1.3% return respectively. We expect the index trade between 16300 & 16800 before pulling downwards with 17000 as a crucial resistance.

Bank Nifty had a negative trading session as it posted -1% intraday return. The worst performing banking stocks were AU Small Bank & Kotak Bank. We expect the index to inch lower with 36000 as immediate resistance.

Tomorrow Share Market Stance

Investors are advised to trade cautiously as we expect market to trade sideways to bullish for Nifty and bearish for Bank Nifty.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16400-16650 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

35000-35800

Bank Nifty Technical Analysis

Market Prediction For - 31st May 2022

[Nifty: 16661 (+1.89%) | Bank Nifty: 35826   (+0.60%)] 

Nifty continued to inch higher, as the bulls managed to close the index above 16600. The index opened strong at 16527 and maintained the bullish momentum to trade at an intraday high of 16695. As suggested in the previous note, traders are advised to avoid initiating new long positions at the present price levels as the index is expected to commence its down leg soon with 17000 as immediate resistance. The Advance: Decline ratio stood at 45:5 with Realty & IT the best performing sectors with 4.1% and 3.9% return respectively.

Bank Nifty too had a bullish trading session, it rallied ~500 points from its previous day close to trade at an intraday high of 36083. The best performing banking stocks of the day were Bank of PNB & Federal Bank. Similar to nifty we expect the index to commence its downward leg with 36700 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16500-16750 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35500-36200

Nifty Technical Analysis

Market Prediction For - 30th May 2022

[Nifty: 16352 (+1.13%) | Bank Nifty: 35613  (+1.48%)] 

Bulls seemed to tighten their grip in today’s trading session. The index opened strong at 16296 and maintained the bullish momentum to trade at an intraday high of 16370. The pullback rally is taking shape on the back of improving global cues and US Fed relief. Investors & traders are advised to avoid initiating new long positions at the present price levels as the index is expected to commence its down leg soon with 16600 as immediate resistance. Today the Advance: Decline ratio stood at 37:13 with IT & Banking the best performing sectors with 2.6% and 1.5% return respectively.

Bank Nifty was one of the best performing sectors, it rallied ~500 points from its intraday low to trade at an intraday high of 35694. The best performing banking stocks of the day were IDFC First & Indusind Bank. Similar to nifty we expect the index to commence its downward leg with 36000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16300-16550 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

35300-36000

Nifty Technical Analysis

Market Prediction For - 27th May 2022

[Nifty: 16170 (+0.90%) | Bank Nifty: 35094   (+2.20%)] 

Bulls wrapped up the monthly expiry in style. The index opened at 16105 and immediately witnessed heavy selling pressure hence eventually it traded at an intraday low of 15903 but once again the bears couldn’t maintain the selling pressure as the index bounced ~300 points from its day low. The Advance: Decline ratio stood at 37:13 with Metals & Banking the best performing sectors with 2.7% and 2.2% return respectively. We expect the index to trade between 16300 & 16100 before heading towards the 15500 mark in coming trading sessions.

Bank Nifty was one of the best performing sectors, it rallied ~800 points from its intraday low to trade at an intraday high of 35222. The best performing banking stocks of the day were Bank of Baroda & SBI. We expect more downside in the index with 36000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16000-16300 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34800-35500

Nifty Technical Analysis

Market Prediction For - 26th May 2022

[Nifty: 16025 (0.62%) | Bank Nifty: 34339   (+0.14%)] 

Once again bears dominated the trading session as the index slumped ~200 points from its intraday high but the bears failed to push Nifty under the 16000 level. The index opened at 16196 and eventually traded at an intraday low of 16006. The Advance: Decline ratio stood at 19:31 with IT & Pharma sectors the worst posting -3.4% & -1.2% return respectively. The index currently is trading in a close range of 400 points between 16000&16400, breach of one of these levels will determine the forthcoming trading direction.

Bank Nifty had a subdued trading session, it opened on a positive note and traded at an intraday high of 34722. We expect the index to exhibit weakness in the coming few trading sessions with 35000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15800-16100 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33800-34500

Nifty in Red

Market Prediction For - 25th May 2022

[Nifty: 16125 (0.55%) | Bank Nifty: 34290  (+0.12%)] 

Volatile trading session for Nifty. It opened at 16225 and eventually traded at an intraday high of 16262 as the bulls again lost their momentum. The major reason behind the index’s attempt to pull up is softening of dollar index, but for a reversal other fundamental parameters will need to support the weakening dollar The Advance: Decline ratio stood at 15:35 with IT & Pharma the worst performing sectors with -1.9% and -1.5% return respectively. We expect the index to push itself up to 16700 levels in the few trading sessions with 16000 as a crucial support.

Bank Nifty had a subdued (sideways to positive) trading session broadly in-line with Nifty with 0.1% intraday return. The best performing banking stocks were Kotak Bank & HDFC Bank. We expect the index to have an upside with 34000 as immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16000-16300 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33900-34600

Nifty Technical Analysis

Market Prediction For - 24th May 2022

[Nifty: 16214 (-0.32%) | Bank Nifty: 34247           (-0.08%)] 

Volatile trading session for Nifty. It opened strong at 16290 and eventually traded at an intraday high of 16414 as the bulls lost their momentum at the crucial resistance of 16400. The Advance: Decline ratio stood at 27:23 with Auto & IT the best performing sectors with 1.8% and 1.1% return respectively. We expect the index to trade between 16000&16200 levels, and push itself up to 16700 levels by the end of this month’s expiry.

Bank Nifty had a sideways to negative trading session broadly in-line with Nifty with -0.1% intraday return. The best performing banking stocks were AU Small Bank & PNB. We expect the index to have an upside with 34000 as immediate support.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16100-16350 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33900-34600

Nifty Technical Analysis

Market Prediction For - 20th May 2022

[Nifty: 15809 (-2.65%) | Bank Nifty: 33315 (-2.48%)] 

Nifty witnessed another Bear dominated trading session, as it slumped ~450 points. It opened weak at 15917 and eventually traded at an intraday low of 15775.2 on the back of heavy selling by the foreign institutional investors & hot inflation data. The Advance: Decline ratio stood at 3:47 with IT & Metals sectors the worst posting -5.7% & -4.1% return respectively. We expect the index to trade between 15600 & 16200 in the coming few trading sessions.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~900points. The worst performing banking stocks of the day were Bandhan Bank & Indusind Bank. We expect the index to trade between 32500 & 34000 in the coming few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15650-15900 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33100-34900

Nifty in Red

Market Prediction For - 19th May 2022

[Nifty: 16240 (0.12%) | Bank Nifty: 34163        (-0.40%)] 

Volatile trading session for Nifty. It opened strong at 16318 and eventually traded at an intraday high of 16399 as the bulls lost their momentum at the crucial resistance of 16400. The Advance: Decline ratio stood at 26:24 with FMCG & Pharma the best performing sectors with 1.3% and 1.1% return respectively. We expect the index to have a weak weekly expiry tomorrow with more of a downside with 16400 as an immediate resistance.

Bank Nifty had a sideways to negative trading session broadly in-line with Nifty with -0.4% intraday return. The best performing banking stocks were Axis Bank & Kotak Bank. We expect 35000 to continue to act as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16000-16250 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33500-34300

Nifty in Red

Market Prediction For - 18th May 2022

[Nifty: 16259 ( +2.63%) | Bank Nifty: 34301    (+2.10%)] 

Bullish trading session for Nifty. It opened strong at 15912 and zoomed ~400 points to trade at an intraday high of 16284 on the back softening of dollar prices. The Advance: Decline ratio stood at 49:1 with Metal and  Oil & Gas the best performing sectors with 6.9% and 3.5% return. We expect the index to have limited upside now after this steep rise and we don’t recommend opening new long positions. We expect 16400 to act as immediate resistance.

Bank Nifty’s trading session was in-line with the broader index with 2.1% intraday return. The best performing banking stocks were ICICI Bank & SBI. We expect limited upside in the index with 35000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16100-16350 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34000-34800

Nifty Technical Analysis

Market Prediction For - 17th May 2022

[Nifty: 15842 ( +0.38%) | Bank Nifty: 33597     (+1.44%)] 

Volatile trading session for the Nifty. It opened strong at 15845 and eventually traded at an intraday high of 15977 only after trading at an intraday low of 15739. The Advance: Decline ratio stood at 30:20 with Realty & Auto the best performing sectors with 2.6% and 2.3% return. We expect the index to have more of a downside in the coming trading sessions with 16200 as immediate resistance.

Bank Nifty’s trading session was in-line with the broader index with 1.4% intraday return. The best performing banking stocks were Bandhan Bank & Bank of Baroda with more than 5% return each. We expect more downside in the index with 35000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

15750-16000 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

33400-34100

Nifty Technical Analysis

Market Prediction For - 16th May 2022

[Nifty: 15782 ( -0.16%) | Bank Nifty: 33121        (-1.23%)] 

Again Nifty witnessed heavy selling on the last trading day of the week. It opened with strength at 15977 and eventually traded at an intraday high of 16083 on the back of positive global cues, but the rally was short lived as the index slumped by ~300 points to trade at an intraday low of 15740. The Advance: Decline ratio stood at 25:25 with metals the worst sector posting -2.1% return in a single day. We expect the index to have more downside in the coming trading sessions with 16000 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by ~1000points. The worst performing banking stocks were SBI & ICICI. We expect more downside in the index with 34000 as an immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15600-15850 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

32500-33200

Nifty in Red

Market Prediction For - 13th May 2022

[Nifty: 15808 ( -2.22%) | Bank Nifty: 33532      (-3.35%)] 

Bears dominated the trading session for the Nifty today. It opened weak at 16021 and eventually traded at an intraday low of 15735 on the back of heavy selling by the foreign institutional investors. The Advance: Decline ratio stood at 1:49 with banking & realty sectors the worst posting -3.4% & -2.1% returns respectively. We expect the index to have more downside in the coming trading sessions with 16200 as an immediate resistance.

Bank Nifty’s trading session was in-line with the broader index as it slumped by 1200points in a single day. The worst performing banking stocks today were PNB & Federal Bank with ~-13% and ~-5% returns respectively. We expect more downside in the index with 34000 as an immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

15550-15850 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33000-33700

Nifty in Red

Market Prediction For - 12th May 2022

[Nifty: 16167 ( -0.45%) | Bank Nifty: 34693      (+0.61%)] 

Market dips under 16000 to trade at an intraday low at 15992. But 16000 again turned out to be a strong zone for the index as it rallied ~220points to trade at an intraday high of 16223. A closing above 16200 suggests some more of an upside but 16500 is expected to be an important resistance zone. Advance: Decline ratio was at 18:32 with IT and Auto the worst performing sectors with -1.2% and -0.9% return respectively.

Banking sector was one of the better performing sectors with 0.6% return. The index showed some strength as the advance: decline stood at 8:4. We believe 35500 to be an important resistance zone for the index and closing beyond that may suggest trend reversal.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16150-16350 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34500-35300

Nifty Technical Analysis

Market Prediction For - 11th May 2022

[Nifty: 16240 ( -0.38%) | Bank Nifty: 34482      (+0.60%)] 

Seventh consecutive day fall for the index. Index opened weak as indicated by negative SGX Nifty but immediately post opening the index bounced 100 points to trade around  ~16350 levels and eventually it traded at an intraday high of 16404. The bulls couldn’t gather much strength to hold the index above 16400 levels as it dipped to an intraday low of 16197. In line with our previous daily report, we still believe the index will trade between 16000 & 16500 for the few trading sessions as the risk of high inflation and weakening rupee is high.

Bank Nifty defied the broader index and rallied ~600point but it gave up some of its gain during the end of the trading sessions. We expect more downside in the index with 35000 as a resistance. 

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16050-16250 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33800-34500

Nifty in Red

Market Prediction For - 10th May 2022

[Nifty: 16301 ( -0.67%) | Bank Nifty: 34275      (0.91%)] 

Today early in the trade Nifty breached the crucial level of 16200 but the bears failed to keep the momentum going as the index rallied ~250 points to trade at an intraday high at 16403 after trading at an intraday low of 16142. Advance: Decline ratio was at 19:31 with metals (-2.0%) and FMCG (-1.5%) being the worst performing sectors. Still weak macro & fundamental indicators don’t suggest any significant upside in the near term. We expect the index to consolidate between 16000 as support and 16600 as resistance.

Bank Nifty too opened weak at 34091, ~500 points below the previous closing price. We expect the index to consolidate between 33500 as support and 35000 as resistance for the few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16150-16400 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

33800-34500

Nifty in Red

Market Prediction For - 09th May 2022

[Nifty: 16411 -1.63%)] ) | Bank Nifty: 34591 (-1.82%)] 

With a net sell figure of Rs6,724 crs, FII’s continue to be net sellers in the early days of May also. Within a span of 40 days NIFTY has corrected more than 8% (swing high of 18114 on 04-04-2022), despite such a steep correction more downside is to be expected on the back of high inflation numbers, Russian-Ukraine conflict and rising interest rates. We expect the index to find immediate support around 16000-16200 levels with 16800-17000 levels as immediate hurdle on long side.

Bank Nifty too opened weak in line with Nifty. Advance: Decline was totally in favor of bears at 1:11. The index has already breached its crucial level of 35000, now we expect 33500 to act as an immediate support in the coming few trading sessions.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16300-16500 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

34000-34800

Nifty in Red

Market Prediction For - 06th May 2022

[Nifty: 16682 +0.03%)] ) | Bank Nifty: 35232    (-0.09%)] 

Volatile weekly expiry for the Nifty. It opened strong at 16854 on the back of strong global cues after the curtailment of Fed’s hawkishness as it raised interest by 50bps instead of already factored in 75bps. But the bulls party was short lived as bears were successful in pulling the index down to 16651 (Intraday Low). Today the IT sector outperformed the broader index with 2.1% return whereas the realty sector underperformed with -1.6%. We expect more downside in the index in the coming trading sessions with 17000 as immediate resistance.

Bank Nifty in line with Nifty opened strong but eventually got in the grips of bears during the second half of the trading day. We expect more downside in the index with 36000 as immediate resistance.

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16550-16800 

Bank Nifty:

Undertone – Bullish

Bank Nifty tomorrow trading range:

34900-35600

Nifty Technical Analysis

Market Prediction For - 05th May 2022

[Nifty: 16677 -2.29%)] ) | Bank Nifty: 35264    (-2.49%)] 

Mid session interest rate hike by 40bps by the RBI governor helped the bears tighten their grip on the index. Nifty tanked by ~400 points with an intraday low at 16623. All the sectoral indices ended their trading session in red with Realty and Metal Sector being the most affected with -3.5% return each. It is recommended to avoid trading using leverage as minutes of the US Fed meeting will be released tonight and its impact might be witnessed in the index tomorrow. Nifty is expected to find support around 16200-16400 levels in the short term.

Bank Nifty too slumped by ~900 points with Advance: Decline ratio at 1:12. The index is expected to find support around 34000 levels in the short term. 

Tomorrow Share Market Stance

Indices are expected to trade sideways to bearish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bearish

Nifty tomorrow trading range: 

16550-16800 

Bank Nifty:

Undertone – Bearish

Bank Nifty tomorrow trading range:

34800-35500

Nifty in Red

Market Prediction For - 04th May 2022

[Nifty: 17069 ( -0.20%) | Bank Nifty: 36163   (+0.21%)] 

Nifty opened weak at 16924 on the back of weak global cues but during the trading day it gathered little strength to rally ~150 points to trade at an intraday high at 17069. Auto and IT were weakest sectors today with -1.5% and -1.2% return respectively. Though the bears failed again to close the index under the crucial level of 17000, the index still looks weak as the index is still trading under its 200DMA of 17232. We expect the index to trade between 17200 and 17000 levels before heading towards the 16200 levels by the end of May Expiry.

Bank Nifty too opened weak but in line with Nifty ended its trading session green. We can expect more downside in the index after it breaches the important level of 36000. 

Tomorrow Share Market Stance

Indices are expected to trade sideways to bullish in tomorrow’s trading session. Investors are advised to trade cautiously and strictly adhere to stop losses.

Nifty:

Undertone – Bullish

Nifty tomorrow trading range: 

16950-17150 

Bank Nifty:

Undertone – B