Dalal Street Week Ahead: Sept 3rd Week

NiftyFuture last close: 11467.10

The market rebounded this week after a correction of previous week

Nifty ended 130 points gained or 1.2% in 2nd week of Sept while the Sensex climbed around 500 points or 1.32% to close at 38854

While a period Midcap index declines 1.1% and Small-cap index dropped 3%

Index heavyweight stock Reliance was surged almost 10% and helped to lift the index

But, Bank index did not well on last week seems heavy selling pressure

India-China border tensions continue and two country’s ministers talk held in Moscow

However, The broader markets was underperformed. US markets was seen huge volatility in last week and daily volatile between 3% to 5%

Covid-19 daily  infections increased and near 1 lakh per day. India reported 96550 confirmed cases on Sept 11, the total count of 46 lakh with 77500 deaths.

India is at second place aftet USA which reported 65 lakh confirmed case

WPI and CPI inflation data for August will be released on Monday 12 pm

USA will be declared IIP data on Tuesday and followed by FED rate decision on Wednesday

NiftyFuture weekly trend decider 11200 and 11600

NiftyFuture was formed bullish candle in last three sessions but weekly chart shows hammer kind of pattern

Hence the sideways trade will be expected during this week and NiftyFuture is facing a weekly resistance 11520 and 11600

Once if breaks and manages above 11600……. Rally will be expected up to 11680 and 11800. But chances are remote only and stay caution at higher levels!!

NF considering a weekly supports 11330 and 11200 which was placed latest swing low

If breaks and manages below 11200……… Expecting more weakness up to 11100-11000

On the OI side, Highest open interest was seen 11300PE and 11500CE

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Updated: 10.45 am / 13th Sept 2020

#Banknifty Chart Update. What is the weekly support and resistance ??

Banknifty (spot) last close: 22479.95

Banknifty was under performed despite of Nifty performed very well from March 24

From March 24th low to still Nifty was gained 54% and Banknifty was gained 37%. Shortage of 17% under perform.

What is the reason ?? Tomorrow I will release Youtube video of one of the reason

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Let’s see……… Coming days banknifty where will take support and resistance ??

In last 10 days index was broken previous day’s lows. This one is weak sign

Banknifty considering a weekly supports 21850-22000. It is a very strong support.

Suppose index if not takes support at 21850 and closes below the level

Expecting further weakness up to 21400 and 20900

On another hand……..Banknifty is facing a weekly resistance 23000 and 23400

Technical chart indicating there is no strength at higher levels in last 10 days chart

Suppose if crossover 23400………. Will try to check 24200

But……… Every rise can sell likes resistance zone!!

I didn’t expect that much of level until 28th Sept…….Because next moratorium hearing on 28th

Updated: 05.33 pm / 12th Sept 2020

Dalal Street Week Ahead: Sept 2nd Week: #NiftyFuture strong resistance and supports

NiftyFuture last close: 11351.75 

What I did mention in my last Dalal street week ahead ?? I told NF weekly resistance at 11780 and weekly supports 11400 and 11250. (Click here last week Dalal street update) 

Do you know last week NF high and low ?…….. On Monday NF was opened gap up and made a high was 11794 and my weekly resistance 11780. On Friday NF made a low of 11310.

On last week NF fell 2.6% in week ended Sept 04. Sensex fell 2.9% to 38357 dented by weakness in global cues and India-China border tensions.

On Monday after markets hours came GDP 23.9% and uncertainty over load recovery after SC order also hit sentiment.

Some positive news was Auto sales recovered in August sales data and AGR verdict by SC. Both news was supported the market

Not in Indian market even broader markets also corrected in last week especially US markets was seen  significantly lower level

On last week Telcom index climbed 1.5%, Bank index fell 6.3% and Midcap dropped 2.9%

India-China border situation will play a crucial role in the coming week

Meeting held in Moscow with Defence Minister Rajnath Singh and Chinese General Wei Fenghe

SC hearing on petitions seeking interest rate waiver for the moratorium period is scheduled to be held on 10th Sept

India crossed 40 lakh confirmed Covid-19 infections with around 69000 deaths. The recovery rate stood at 77% against 76% in last week

Weekly trend decider 11600 and 11260

NiftyFuture has formed a bearish candle on Friday and bearish engulfing pattern formation on weekly close indicating further weakness and volatile in coming days

Let’s see technical views……… NiftyFuture facing a weekly resistance at 11475 and 11600

Above two resistance are crucial for coming week. Stay caution at higher levels.

Once if comes higher levels can create shorts with a stop of 11600.

Suppose if crossover and manages above 11600……. Will try to check 11750 for positional

On another hand, NF considering a weekly support at 11260

If breaks and manages below 11260 and finding a next support around 11100-11150

Very strong support at 11100.

Are you bull ? Can buy at every declines and keep a stop of 11100 for closing basis.

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Updated: 10.21 am / 06th Sept 2020

Flashback: #Nifty Strong Trend Lines!! What I did mention in last 8 months trend lines ??

Hai Friends!!……. If you watched my blog since Jan 2020 you known all things what I told

On Budget day (01st Feb 2020) I was given red alert in my blog and twitter both…. What I mention ? (Click here for my red alert )

“Nifty strong support at 11930. If closes below the level ultimate Target 11100”

Same day Nifty was closed at 11661 fell 2.1% but after consecutive 8 sessions Nifty came back up to 12230. But I was very bearish until 12430 (life time high)

Again Nifty was broken the budget day low on 27th Feb

Then all  known Nifty was crashed up to 7511 on 24th March by Covid-19 impact

I did not expect that much fall…… But I expect 11100 only

Let’s see……. When I changed to bullish ??

On 2nd June 2020, Nifty was closed above 9900 and I was changed to very bullish at the time but my stop-loss 8800 closing basis!!

Do you know ? Nifty was changed bearish at 11930 then changed bullish at 9900. Almost 2000 points gap (But low was 7500)

On June end my stop was 9500, On July end my stop was 10300, On middle of August my stop was 10800………. Okay Now ??

Yes……. While updating Nifty spot were trading at 11400, Now overall very strong support at 11100

Every declines can buy and keep a stop of 11100. Suppose once if closes below the level again trend will be changed to Bearish

Do you know ? Nifty bullish trend was changed at 9900 and recent peak was 11800. Again 2000 points gain

Now…….. Close watch 11100 ( Next week the level will be changing)

Flashback over!!!

If any comments let me know whatsapp 9865977321 and flyingcalls@gmail.com

Updated: 01.58 pm / 04th Sept 2020

Dalal Street Week Ahead: 1st Week Of September

NiftyFuture last close: 11675.20 (+1%)

During the last week, NiftyFuture managed and closed above 11650 mark which was higher then Feb 28th closing

In a mean time Banknifty index was gained almost 10%

Nifty Midcap and Smallcap indices continue to higher and rising 2.3%, 3.7% respectively

Overall the last week was seen bulls have dominated on entire week ahead of strong global sentiment and FII’s money

Market still going to non stop after the RBI governor spoken about bad opinion of economic and market surging

Covid-19 infections crossed 35 lakhs with over 63000 deaths and active cases are 7.5 lakh only

The current recovery rate stood at over 73%

For the first time India crossed the mark of 70,000 infections in a day

GDP date will be releasing on Monday post market hours it will effect on Tuesday’s trade

Auto sales date will be released on first of September and expecting improve from the last month

2nd Sept hearing on moratorium and interest waive off in SC

Maybe AGR verdict judgement on 3rd Sept. Hence the 3 big events is there in coming week

FIIs still showing power and they bought in cash segment entire August month except 2 days

They bought 19145 crore worth of stocks in cash segment whereas DIIs sold 11727 crore

Centre has announced 4th lock-down relaxation it will helped to economic boost

Above average rainfall is major benefit for economic

NiftyFuture has closed the week higher by 2.4% up for the second consecutive week and market ended higher on all five trading days

NiftyFuture has closed with a strong bull candle on 28th Aug and rally will be continued up to 11780.

Index if breaks and manages above 11780 then will move up to 11850 and 11970 which was gap down top on 24th Feb.

NF considering a weekly supports around 11400-11450. If manages below 11400

Then will take next strong support around 11250…….

Suppose if comes above support zone can buy and hold

More live market update will be sent to my clients only

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Updated: 10.08 am / 30th Aug 2020

LICHSGFIN Chart Update

While updating stock were trading 300 and marked a high of 309

Company reported June quarter result 34% jump in net profit Rs 817.48 crore

Total income of the company rose to Rs 4977 crore vs 4807 crore YoY

Now, Stock has broken 5 month high 297 and looks good if closes above the level

Expecting positional targets 315 and 330+

Supports 295 and 283

Updated: 12.14 pm / 25th Aug 2020

Dalal Street Week Ahead: 2nd Week Of August

NiftyFuture last close: 11226.20

On last week bulls have dominated 4 days except on Monday

On Monday NF was dropped 1.6% and made a low of 10883 which was near by 200 DMA. ( What I did mention on last week Dalal Street Week Ahead of Aug 1st week ? Click here )

I have said boldly NF considering strong support at 200 DMA 10860. On Monday NF made a low of 10883 then bounced up to 11250 in end of the week.

On last four trading session bulls was dominated and climbed over a 1.3 percent in the week ended August 7

Supported global cues and RBI policy to index managed above 11200 mark

Midcap index gained 4% while Small-cap index surged 5% in the week ended 07th Aug

Covid-19 infections have been increasing rapidly. As on date 08th Aug the total count over to 21 lakh, We crossed 60,000 mark in a day for the first time.

Positive news is recovered case increasing rapidly and active cases around 6 lakh while 43000 deaths

The hearing in SC on the adjusted gross revenue (AGR) dues will be held on Aug 10

USA is expected to finalize a second round of stimulus package in the coming week

FIIs have net bought 9496 crore worth of stocks in cash segment  in last 5 sessions whereas DIIs have net sold 2133 crore which could be due to profit booking and redemption pressure as the market rallied 50% from March 23’s low

Upcoming data. June industrial output will be released on Aug 11 and CPI Inflation on Aug 12.

Whole sale price inflation will be declaring on Aug 14

Focus on coming week earnings reports stocks BOB, Titan, Ujjivan, Bosachltd, Mothersumi, Auropharma, Bharatforg, Bpcl, Eichermot, Gail, Grasim, Heromotoco, Pfc, Bergepaint, Glenmarket, Hindal and Voltas

NiftyFuture week trend decider 10880 and 11340

NiftyFuture is facing a strong resistance at 11340 which is the recent high. Once if breaks and closes above the level

Further rally will be expected up to 11430, 11570 and 11680

NiftyFuture was rebounded from near by 200 DMA 10880 levels during the last week

Which is the very strong support in coming days and before that NF will take minor support around 11050

Hence buy on declines with a stop of 10880 for short term.

More live market update will be sent to my clients only

Send one Hai message to above whatsapp number and will get live market alerts!!

For my twitter id : @flyingcalls

Updated: 10.58 am / 09th Aug 2020

ITC Chart Update

While updating ITC trading at 195

Technical chart indicating stock trading range between 190-202 in last 20 sessions

Now stock came near by support zone and took support around 192

Expecting further rally up to 202 and 208 until if not breaks 190

Can buy for positional and keep a stop of 190

Updated: 12.14 pm / 04th Aug 2020

MARICO Chart Update

While updating Marico stock trading at 366 marked a high of 368.50 and low of 355

Technical chart indicating stock finding a triple top at 360

Today stock broken 360 and holds above the level

Expecting bulls action up to 372 and 378 for positional

Stock considering a support at 355 and 347.

Updated: 12.33 pm / 28th July 2020