Nifty back to bullish sign 0 771

Pre Market Updates Thursday February 07, 2019
Nifty levels

Positive Points:

  • Nifty Futures and Bank Nifty Futures added fresh long positions
  • India Vix ended the session 0.99% lower at 15.6.

Negative Points:

  • Oil prices rising.

Outlook:

  • Nifty range shifted to higher levels.
  • Nifty finally witnessed a breakout from its sideways consolidation and managed to close at a four-month high led by a strong rally in front-line stocks.
  • RBI’s monetary policy to decide the trend as the consensus seems to be no change for today. To be announced at 11:45 today.
  • Nifty back to bullish sign
  • We can go long with a stop below 10,980 levels on a closing basis and look for a bigger target placed around 11,400 levels.
  • Nifty likely to face resistance at 11150 and support at 10980.

Simple Moving Averages:

  • 50 days SMA: 10809
  • 150 days SMA: 10905
  • 200 days SMA: 10850

Nifty Chart Formations:  Candlestick and Patterns

Candlestick:  Bullish candle

  • Nifty forms long bullish candle for the 5th consecutive day in a row.
  • It reflecting smart buying in the lower levels.

Patterns:  

  • Formation of nifty share is in uptrend.

Options Data Tracking

Max Pain

  • Nifty max pain level currently at 10900
  • Bank Nifty max pain level currently at 27200

Put Call Ratio

  • Nifty PCR at 1.63
  • Nifty Bank PCR at 1.38.

Max O.I Strikes

  • Nifty: 10700 PE and 11000 CE
  • Bank Nifty: 27000 PE and 27500 CE

FII & DII Net Purchase / Sales

  • FII: 695 CR
  • DII: 525 CR

F&O Stocks under Ban: 5 securities under F&O ban

  • DHFL
  • IDBI
  • JETAIRWAYS
  • RELCAPITAL
  • RELINFRA

FnO Earnings

  • BRITANNIA
  • TATAMTRDVR
  • TATAMOTORS
  • GRASIM
  • AUROPHARMA
  • CADILAHC
  • ADANIENT
  • SAIL
  • MRF
  • ARVIND
  • SUZLON

Disclaimer: The views expressed by investment expert on rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.

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NIFTY VS 2019 GENERAL ELECTION 0 738

Nifty levels

Nifty analysis after BJP won the 2014 general election

  • Before 2014 Indian general election market consolidated for almost six months
  • In 2014 middle, BJP took 336 seats and formed a majority government.
  • Market celebrated BJP robust winning and it took Nifty to reach 9000 levels from 6000 levels.
  • 2015 was the period of decline in Nifty50 and global markets as well. Fall in petroleum prices, Greek debt default, sharp rise in US bond yields and Brexit bought stock market selloffs globally.
  • 2016 – 2017 shocking results of the Brexit referendum, the victory of Donald Trump in the US Election and Demonetization move by the Indian Government driven the market towards 10000 marks in the card.
  • 2018 was the year of consolidation. Driven by the Union budget of India and Global breakdown, rumors of Fraud by Housing Loan companies, Oil price Increase and rupee fall against US Dollar.
  • From 2018 Nifty consolidating between 11500 and 10000.
  • Especially last five months facing tough resistance around 11000 and taking crucial support from 10000.

Psychological levels

So for in Nifty 6000, 7000, 8000, 9000, 10000 and 11000 levels acting as a good psychological levels. Every thousand counts performing as a good support and resistance in the charts. On Friday, 8th March  2019, Nifty prices closed above 11000 psychological levels in the weekly scale. Even though most analysts believe that the market seems to be in an overbought zone still election 11000 marks will act as a crucial support and consolidation could be seen further or we can face higher level weakness.

Nifty levels

Nifty levels if the BJP win or out in the 2019 general election

Market wouldn’t care which party going to win in 2019 Indian general election. It may be BJP or Congress

  • With Majority wins – Rally towards 12000 levels
  • Without Majority win- Downwards to 9000 levels

Disclaimer: The views expressed by investment expert on rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.

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