Nifty Forms Bearish Belt Hold Pattern in Stock Market Tips

 Stock Market TipsIndian Stock Market tips Shares knock down on Monday roadway weak Asian markets after US President Donald Trump’s failure to surpass a healthcare modification raised doubts about his ability to push his schedule, whereas shares of information technology companies and drug makers were punch by a stronger rupee. In Intraday Chart view Nifty-50 Forms Bearish Belt Hold Candle Stick Pattern. The Bombay Stock Exchange Sensex closes at 29233 were moving down by 188 points or impel log by 0.64 percent whereas Nse Index closes at 9045 were moving down by 63 Points or hush fog by 0.69 percent. The S&P BSE Midcap settling at 13812, were down by 37 points or by 0.27 percent, while S&P BSE Small cap closes at 14071 were down by 06 points, or 0.04 percent. The Top Gainers on the National Stock Exchange were Bank of Baroda up by 1.69%, Bharti Infratel up by 1.56%, Indusind Bank up by 1.11%, Power Grid up by 1.06% and HDFC up by 0.98% on the flip side Idea Cellular down by 3.63%, Tata Steel down by 3.51%, Hindalco down by 3.44%, Reliance Industries down by 2.97% and HCL Tech down by 2.45% were the top losers on Day trading.

Sensex Major Resistance on Upside at 29381-29530-29678

Sensex Major Support on Downside at 29124-29016-28867

Trend Deciding Level at 29273

Short Term Trend: Up

Medium Term Trend: Up

Nifty Index Major Resistance on Upside at 9085-9125-9165

Nifty Index Major Support on Downside at 9015-8985-8945

Trend Deciding Level at 9055

20 DSMA at 9011

40 DEMA at 8878

Short Term Trend: Up

Medium Term Trend: Up

Major Headlines

Shriram EPC in JV bags order worth of $107.76 million in Tanzania

Kaveri Seed Company to buy back shares worth Rs 200 crore

BEML bags prestigious order worth of Rs 1421 crore from BMRCL

Aban Offshore bags contract worth of Rs 471 crore from ONGC

L&T bags orders worth of Rs 2490 crore

Shriram Transport Finance raises Rs 500 crore through NCDs

Nifty Indices

On 27 March 2017: Foreign Institutional Investors (FII) Net Bought – INR 577.88 Crores and Domestic Institutional Investors (DII) Net Sold – INR 594.48 Crores.

The Nifty opened on an unenthusiastic note and fall down to test its supports. The bulls handled to hold on to the swing squat of 9019. On the hourly chart, the Nifty has shaped a desire on the upside, which will clasp as long as the swing short of 9019 holds. The range of 8980-9000, which has prior acted as a resistance zone, is currently providing support to the Index. Consequently, the superior upside budding remains unharmed. On the weekly chart, the Nifty has stationed a negative close. However, it can be taken as a part of the larger fifth wave on the upside. Short-range and medium-range targets on the upside are 9230 and 9500, correspondingly.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 9011 and 8878 respectively. The thrust indicator is trading in bearish sort on the daily chart

In the hourly chart, Nifty is trading below the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 9078 and 9088 correspondingly, the hourly impetus indicator encompass turned bearish mode.

The market duration was turned negative with 676 advances and 997 declines, Unchanged 74 Total Issue 1747 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 9107-9147-9187

Nifty Future Major Support on Downside is at 9031-8995-8955

Trend Deciding Level at 9071

Bank Nifty Major Resistance on Upside at 21182-21270-21358

Bank Nifty Major Support on Downside at 20999-20904-20816

Trend Deciding Level is at 21087

30 Days Simple Moving Averages @ 8944

50 Days Simple Moving Averages @ 8787

150 Days Moving Averages @ 8562

200 Days Simple Moving Averages @ 8524

Securities in Ban for Trade Dated 28.03.2017

  1. Bharatfin
  2. Ceat
  3. Ibrealst
  4. Ifci
  5. Jindalstel
  6. Jpassociat
  7. Jswenergy
  8. Orientbank
  9. Tv18brdcst
  10. Wockpharma

[Visit STOCK PICK on website daily for Investment Calls]

Nifty Weekly Outlook [27-30 March 2017]

Subsequent to witnessing rigid sentiments in successive weeks, CNX Nifty witnessed profit booking from higher levels and traded under selling pressure all through the week. Nonetheless, it observed good recovery from lower levels due to short wrapper at lower levels. Instability in United States Dollar/Indian Rupee futures prices made Indian equity markets hot-blooded throughout the week. Theoretically, augment in volume and open interest with mutually side’s price movement price movement point out to one side sentiments in current week. 8995 will be the crucial level to watch out for in present week. It witnessed good buying support at lower levels from traders last week which indicates support at lower levels. It likely to trade with volatile sentiments in current week on profit booking at higher levels from traders. If it managed to sustain above 9050 level than it may witness stiff sentiments till 9300 levels. Breached of strong support 8995 level with good volume will make Nifty bearish and down side may come due to selling pressure below that level. Traders should look for the opportunity to buy at lower levels for the week.

Buy Nifty Fut Mar on Dips near 9050 sl 8970 Tgt 9200

Stock Market Tips

Buy Nifty Fut Intraday above 9088 sl 9063 Tgt 9108-9133 {Or} Sell below 9044 sl 9069 Tgt 9024-8999

Buy Bank Nifty Fut Intraday above 21044 sl 20994 Tgt 21094-21144 {Or} Sell Below 20955 sl 21005 Tgt 20905-20855

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