Nifty Trend Is Sell On Rise

In the last week, we were expecting a bounce from the support of 16900 but bears have proved us wrong. I do not think the reason was a bear market the main reason was American market volatility and FED policy. Also, RBI surprisingly took a press conference and increased the repo rate by 0.40%. Because of this back to back events, our market has broken important support and closed below on the weekend.

Nifty: On a daily time frame NIFTY has broken important support of 16900-16800 and closed below this Wednesday. Bears have taken handover and they have shown we are the leader now. On weekly expiry, the market has shown short-covering and retest the resistance of 16900 then closed at day low. Friday’s closing is neutral i.e. Star Doji and the market took a rest in between support & resistance.

Coming week's view for the market is sell on rise and we are expecting levels of 16100-15900. On basis of moving averages trend is down, and the market will fill the gap down levels. The supply zone is around 16600-16700 and the demand zone is 15800-15700.

On weekly frame market trading in lower-low lower-high trend. The market has closed near important support, we can expect some pullback or trend reversal. We just need closing above 16100 on weekly basis. Let’s hope for the best and prepare for the worst.

Banknifty: After the made top of 38800-38900 BANKNIFTY has gone into correction mode. However, in the correction mode, most of the candles are neutral. That means banknifty is looking strong than the nifty. It just opened the gap down and closed at the opening price i.e. Star Doji.

On weekly frame banknifty trading in a Bearish Descending Triangle and right now closed near important support. We are expecting a bounce from these levels but need a breakout to trend line resistance for more up moves. The strong demand zone for banknifty is 34500-34300 and the supply zone is 35000 for the coming week.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

More Zic-Zac Pending In Nifty & Banknifty

Friends, we have seen a 200 DMA breakdown in February 2022. The index has normally given moment of 2-3% in a day that is up or down because of the World War III fear. Nifty has touched 15700 and taken a sharp U-turn and given back-to-back breakout to its 20, 50, & 200 DMA. From the low of 15700 Nifty showed highs of 18000 within the month, its almost 2000 points move. However, in the last month market is reacting to global market moves which is the reason we have seen volatility in our market. We are not able to predict the market direction and get punishment by hitting stop-loss.

In that last week of monthly expiry, Nifty played in a very small range, and on the first day of the May series it has fallen from day high. The overall week was volatile and as on the monthly chart, we get neutral closing. Coming week again we are expecting volatile because as per the chart there are supports and resistances range are very narrow. If we look at the options data then call writing has happened and no put writers are there. So we are expecting a fall on Monday and then a bounce from the bottom levels. For the coming week, support is around 16950-16900 and resistance is around 17350-17400. We are neutral on Nifty for the coming week but the strategy is to buy near support and sell near resistance with confirmation.

If we talk about Banknifty then the scenario is the same. However, banknifty is trading below all DMA so there is much resistance for banknifty. Also, HDFC Bank & HDFC are very oversold so we are expecting a good bounce in this pair and private banks. If we will be right then banknifty will cross all resistance and will again show levels of 40000. Right now we are bearish on banknifty for this week as per chart & options data. Support is around 35500-35400 and resistance is 36800-37000.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

MARUTI - Bullish On Multiple Time Frame

In our last article stocks have reacted as we expected RELINFRA | LEMON TREE. Today we are going to discuss automobile stock. The auto index has touched a lifetime high in November 2021 and after that, it is showing consolidation as well as a downtrend. However, the index has taken a U-turn from its major support of 9500 and now showing strength towards a lifetime high. We found MARUTI out of all auto stocks which showed strength in multiple time frames.

Monthly Chart: Maruti has given a breakout & confirmed INHS in January 2022. After the breakout stock has shown correction due to the Russia-Ukraine crisis. If we look at the last month's candle then it has shown good buying from the bottom and closed above the neckline support. The price shows upward from the same levels.

Weekly Chart: On this weekend stock has given a breakout and touched 8000 levels. There is Cup & Handle confirmation on the chart. Now strong support is around 7700 & 7400 and as per my study stock will touch 8800 levels in few months.

Daily Chart: Stock has taken two time support from its 200 DMA and finally crossed resistance level on 21^st April. Volume has increased back to back in the last three trading sessions. The stock has given Cup & Handle plus Double Bottom breakout confirmation in a single candle.

The chart is looking very strong on all time frames, so we are bullish on the stock for Swing, Positional, and Medium Term from the current levels. It is a leading and large-cap company in the automobile sector.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

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NIFTY Will Hit 18000?

Friends, as we are seeing Russia Ukraine war is getting neutral and Mr. Putin has given a positive statement regarding compromise. We have discussed in the last article as nifty was strong and crossed its all moving averages i.e. 20, 50, and 200. In the last week, it was trading near resistance 17350 and after so many struggles it has succeeded. Nifty has crossed 17500 as well and closed above, now 17500 is strong support and 17800 / 18000 is the next resistance.

Also, the new financial year has been started so we are expecting a fresh rally as the market was very oversold. Before one week nifty has confirmed Inverted H&S and worked well. We have seen good buying in all sectors apart from the bank sector.

On the first day of the April series private banks have shown good buying from the bottom levels. And bank nifty has also given a breakout to the Inverted H&S neckline. That is also strong confirmation on the daily chart and we are expecting good up moves in private banks as per our study. Also, Banknifty has given breakout to 50 & 200 DMA. If we go through the private banks like HDFC Bank, ICICI Bank, Axis Bank, and Kotak Bank so many banks have given a chart pattern confirmation. Banknifty has next support is around 37000 and resistance is 38000 for the coming week.

We are bullish on market, however expecting on profit booking before a big rally.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

What Is The Next Step Of NIFTY & BANKNIFTY?

From the start of March month, FIIs is a net seller in the cash market and DIIs is a net buyer. In a comparison of buying, selling quantity was huge. Now it is looking like FIIs has taken handover of buying, we wish this handover will continue. Another reason is the American market, this market has shown a good rally in the last four days. Also, the Russia-Ukraine war situation is getting neutral. Meetings are going on to find some conclusion, I hope it will resolve as soon as possible.

Nifty has shown dip till 15700 and from that bottom taken U-turn with the non-stop rally. On Wednesday, nifty has closed with a small green candle and confirmed Inverted H&S i.e. signal of a trend change. Nifty has given back-to-back breakout to 20 & 200 DMA and now trading near 50 DMA.

I am bullish on Nifty from current levels i.e. 17287, before that expecting one correction till 17000. The good support is 17000 and resistance is around 17350/17500. Our view is long in dips near support or on the breakout.

If we look at the options data then the highest money invested at 17000 PE so we can say that it is good support and call side is 17500. The nifty range is 17500-17000.

Private Banks have shown good buying in the last few days and dragged to bank nifty. However, there is no confirmation of trend change on the chart. Banknifty has three resistances i.e. chart, 200 & 50 DMA and support is around 36000.

In weekly contracts, the highest investment is at 36000 PE and 36500 CE that is the reason PE is good support and CE is resistance for this week.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

RELIANCE INFRA – Buy / Sell or Hold?

Friends, in the last write-up we caught two stocks and both are doing well as we expected. Today we found one more multi-bagger stock i.e. RELIANCE INFRA based on chart & fundamentals.

Chart Analysis of RELINFRA: On the weekly time frame, the stock has made on big rounding bottom in between the price range of 6 to 110. This bottom has taken time from June 2019 to June 2021. Then shown the pullback till 60 and made new bottom above previous i.e. higher low. The stock has started up journey after September 2021 and did two time struggle near 110. Finally stock has succeeded to cross the resistance levels of 110 in January 2022 and given confirmation of Rounding Bottom + Bullish Triangle. The breakout candle had good strength and the price went up to 150. After that stock has come down due to the Russian-Ukraine war and global sentiments. In the last week, stock price rise again from trend line support and closed at weekly high levels. The current candle has good strength so we are expecting more up moves till 140 / 150 and support levels are around 110 / 103.

Let’s talk about the company's business and its scope. Reliance Infrastructure Ltd. is one of the largest infrastructure companies engaged in developing infrastructure projects through various Special Purpose Vehicles in several sectors such as power, roads, metro rail, and airport in the infrastructure space and the defense sector. The company is also a leading utility company having a presence across the value chain of power businesses i.e. generation, transmission, distribution, and power trading.

The balance sheet of a company is not good but the company has increased its total assets in the last two quarters. In coming days company business will improve as per our study.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Nifty & Banknifty Range As Per Chart + Option Writing

Friends, Vladimir Putin is playing the role of big bear in all markets. That is the reason we are facing market volatility nowadays. Russia becoming aggressive day by day therefore we are burning in this fire. In this panic situation, we have to avoid a day or short term trading and stick to positional or long term.

Below is the daily chart of Nifty 50, index is trading near 16245 and the overall trend is down. On the 24^th of February, the index has broken important support of 16600 and closed at the day low. The next day gap up and closed at day highs. Friday was a gap down and closed neutral after high volatility. As on chart, the coming week's range is 16000 and 16500. However, we have to keep eye on War News because that is impacting more right now.

Below are the top 15 PUT option strike prices where the highest money is invested. As per this PE data, Nifty has good support of 16250/16150, but selling percentages are very low. So we cannot consider these as strong supports.

The CALL writing data is not too strong, only three strike prices are having selling between 1-2%. As per the data resistances are 16300/16400. For this week range is very narrow which is 16400-16100.

The below chart shows us that the bank index has tested the crucial support of 34094 and made a high around 35097. After the zic-zac session index closed near the opening price and the match was a tie. The range for the coming week is 34000 and 35000.

As per PUT option writers, below highlighted are support levels and the highest invested cost is at 34000.

CALL writers are saying every step is resistance i.e. 34500/34600 up to 35000.

Above is all about what charts and options data are saying, but our priority should be Vladimir Putin J.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

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