#NiftyFuture Technical View For 26th-30th Aug 2019

NiftyFuture Last Close : 10842.70

NiftyFuture has plunged sharply for second consecutive week, Week losing 223 points. The Rupee has crashed to 8 months low during the week and was very close to 72 mark. SEBI tweak in buyback norms and tightening of rules for credit agencies.

For the week, FMCG index was down by 2.2%, PSU Bank index lost 7.5%, Metal index plunged by 5%, Private bank index melted 4.5%, Nifty Bank index crashed by 4.5%, Auto index edged lower by 0.4% and Midcap 100 index fell by 3%……… Whereas IT index ended with smart gains up by 3% and Pharma index was up by 1.3% which was helped by dollar strength

Finally FM was released almost 2nd budget on yesterday after market hours. Very positive announcement for equity market. No surcharge on FPIs, Additional liquidity support 20k cr for housing finance company, Govt withdraw “Angel Tax” for startup companies, Withdraw surcharge levied on LTCG & STCG, and some relaxation news for automobiles.

On Friday, NiftyFuture has formed solid bullish candle on daily chart and NiftyFuture also managed to close above the recent low (05th Aug low was 10806).

Technically, NiftyFuture is facing a weekly trend line resistance at 11040 & next very strong stiff resistance 200 DMA around 11180-11220.

Yes, Index if managed above 11200 and closes above the level, Further up move will be expected.

On the other hand, NiftyFuture can be considered as supports 10800-10720 and 10640. Will act strong support around 10640.

After stimulus package, Index if failed to take support at 10640 even God cannot save our market………..Free fall will be expected!!

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Updated : 01.03 PM / 24th Aug 2019

#NiftyFuture Technical View For 19th-23rd Aug 2019

NiftyFuture last close : 11064.65

NiftyFuture was managed and closes above 11000 mark on consecutive second week. Some relief rally on Metal, Media, PSUBanks and major rally on Reliance after AGM.

On Macro economic data, Wholesale inflation hit a 25 month low in July and WPI stood at 1.08% in July vs 2.02% in June.

Global news : US President said US-China productive trade talks and expected the two nations to meet in September despite imposing tariff on over $125bn worth of imports Chinese imports effective on Sept 1st.

Our weekly chart analysis NiftyFuture formed a higher low on last seven sessions. That means index recovered from oversold zone.

Now, NF is facing a weekly and very strong resistance around 11180-11200 (200 DMA). If crossover and closes above the level……. Expecting fresh up move.

On the other hand, NiftyFuture can be considered as supports as 10920, 10880 and a very strong crucial support at 10800.

Suppose if breaks crucial support 10800, Expecting another round panic and sharp selling pressure!!

Close watch above supports and resistance levels. Happy trading!!

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Updated : 01.11 PM / 17th Aug 2019

NESTLEINDIA Chart Update

While updating Nestleindia stock trading at 11950, Marked a high of of 11998

Technically stock finding a trend line resistance at 12020

Stock once if breaks and holds above 12020, Rally will be expected up to 12200-12350+. Catch once if breaks given level.

Latest stock news : Domestic sales increased by 13.1% in Q2 June 2019 largely driven by volume & mix and positively influenced by sales to CSD and sale of surplus fat.  The board has approved an interim dividend of Rs 23 per equity share and a special interim dividend of Rs 180 per share for the current financial year.

Updated : 12.47 PM / 06th Aug 2019

#NiftyFuture Technical View For Coming Week (05th – 09th Aug)

NiftyFuture last close : 11024.05

NiftyFuture extended losing streak to fourth consecutive week. Disappointing auto sales, Taxes for motors, Weak quarter numbers, and Weak macro-economic data were the majors factors for markets lower.

Global news : US President tweeted on concerns about the US-China trade war “Impose on additional 10% tariff on $300 billion Chinese imports”

NiftyFuture losing a fourth consecutive week, However last two sessions Index took strong support around 10900 and bounced up to 100-150 points

My weekly technical outlooks, NiftyFuture will take minor support around 10900 (23.6% Fibonacci retracement level)

On the other hand, NiftyFuture finding a major resistance around 200 DMA at 11170. Next 5 sessions watch two major level 10900 and 11170

Suppose if breaks and closes below 10900………Expecting more weakness up to 10725 and major support at 10600 (Six month low)

If bulls return to dominate……. and NF if sustains above 11170 will move up to 11280-11360. Again if comes resistance zone can create shorts!!

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Last week NiftyFuture technical view Click here

Updated : 06.12 PM / 03rd Aug 2019

DMART Chart Update

While updating DMART trading at 1464. Marked a high of 1475 and low of 1451.55

DMART technical chart indicating recent resistance and double top at 1475

Stock once if breaks and holds above 1475……… Bulls action will be expected up to 1500, 1530+

Close watch 1475.

Updated : 12.43 PM / 30th July 2019

BHARATFORG chart update

BHARATFORG has formed triple bottom and strong support at 430

Technically stock if breaks and holds below 430, Expecting further weakness on the card

Down side supports 420-415 and 405. Consecutive 3 days stock if closes below 430……………… ultimate target 375.

Suppose if take support at 430……….. No problem for bulls!!

Updated :01.23 PM / 23rd July 2019

TATAELXSI Chart Update. Stock broken trend line support 822

Technically Tataelxsi stock broken strong trend line support at 822

Now, stock trading at 816 and marked a low of 808.85.

Stock if holds below 822 and closes below the level

Further weakness will be expected on coming days……….

Finding a supports 790 (Two year’s low)……. Thereafter will be check 760.

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Updated : 01.33 PM / 15th July 2019

#NiftyFuture noon update. Broken strong support 11600

While updating NiftyFuture trading at 11605, marked a low of 11592 and high of 11770. Seen strong pressure on Friday and Today!!

Chart indicating Nifty Fut very strong support at 11600, Now broken.

NF if sustains below 11600 and close below the level

Further weakness will be expected up to 11400-11250 on coming days!!

If rise can create shorts & Don’t think to buy if close below 11600

Updated : 01.59 PM / 08th July 2019

HDFC Chart Update

While updating HDFC were trading at 2233.

Stock finding a recent trend line resistance & range at 2235

Stock once if holds above 2235 and closes above the level

Further up trend will be expected on coming days!!……….

Expecting Targets 2265 and 2288. (Must close above 2235)

Finding a supports 2215 and 2192

Updated : 01.53 PM / 01st July 2019