Nifty Outlook (29th Nov - 03rd Dec)

Nifty Spot Closed @ 5751
Supports @ 5700-5630-5555
Resistances @ 5830-5930-6020

This Week, Nifty broke all Short term Support on the News of Various Scams & Korean/Ireland Old Problem . 5865 was Crucial Support which is not stiff resistance. Below 5865, Next Support stands @ 5700-5630-5555. Technically Market is weak but Pull back rally possible. 200 DMA @ 5454 which is medium term Support, Below Bears will Rule on D-Street. If 5670-30 Holds, We might See 5930-6020 in days to come as Dead Cat Bounce. Below 5670 Nifty will move towards medium term Support @ 5555-5454-5350.


" Trade with Levels not with Hope "


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Nifty Outlook (22nd - 26th Nov)

Nifty Spot Closed @ 5890
Supports @ 5835-5750
Resistances @ 6002-6137
Strong/Weak Above/Below 5980.

Nifty Standing @ Short Term Support of 5865-5835. This Week Nifty came down from 6121 to 5890 on closing Basis. It Closed below Crucial Support of 5980 which makes Nifty Bearish for short term. Most of the Momentum Indicators are oversold now and Bounce back possible. 5865-5835-5770 are Crucial Support now as per Medium term Support line. Closing below 5865 can lead to more correction till 5770-5700. If Nifty Sustain Above 5865, then it can bounce till 6000-6137-6180. Watch out 5865-35 for Long/Short for next week.


" Trade with Levels not with Hope "


Regards,


www.equityahead.com
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Nifty Outlook (15th Nov - 19th Nov)

Last Week, We mentioned 2 Crucial Levels. Big Resistance @ 6357 & Strong Support @ 6230. Above/Below Market was expected to move 100-200 Points Atleast. Nifty Failed to Cross 6357 & Breached 6230 & Hence Closed @ 6071, around 150 point down. Reason will come by IRELAND a default by 70 bn US $ (Just the MCAP of SBI) and Supported By China Market Cracked 5% in 2 Days. But I think Reason is far different. Market was overbought and over leveraged and this kind of correction which keeps on coming every now and then helps creating balance of the market. Also, FIIS were churning their portfolio which leads to this affect. Now Rumors started Buzzing of 5600. We believe if market breaks 200 DMA which is below 5400 then Only market will turn Bearish atleast technically for medium term.

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For Coming Week, Nifty has Strong Support @ 5980-5930-5865. If 5930 Holds, It can Bounce till 6150-6240. Again Stiff Resistances @ 6280-6357 which will lead to more upside or reversal. Technically, Closing Below 5865 makes Downside target more wider till 5775-5600. Watch out 5930-6000 Support Area for Long/Shorts for next week.


" Trade with Levels not with Hope "


Regards,

www.equityahead.com

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Nifty Outlook (8th Nov - 12th Nov)

Nifty Spot Closed @ 6312
Supports @ 6230-6137-6035
Resistances @ 6357-6420-6500
Strong/Weak Above/Below 6230.

Last Week was a Bullish Week across sectors & stocks on Diwali occasion. Last week, we mentioned Nifty Spot Strong Support @ 5970, If Holds 6240+ and Nifty Spot Now @ 6312 near all time High. Nifty will face hurdle @ All Time High, Once Close above will move towards 6420-6500+. Below 6230 Closing, Some Weakness will arise hence one should use Sl 6230 closing as Trailing SL for Profit protection.


" Trade with Levels not with Hope "


Regards,
www.equityahead.com
www.equityahead.net