Market Outlook
FRIDAY, APRIL 05, 2019
Market Outlook (Closing) as on 05.04.2019
Market closed in positive territory at 38,862.43 (+ 177.51)
SHORT TERM TARGETS ACHIEVED: TRAIL TILL IT REVERSES:
LOOKS LIKE WAVE-III OF 5 IS GOING TO EXTEND SLOW AND STEADY TOWARDS HIGHER LEVELS TARGETS:
BROADER MARKET ARE SHOWING STRENGTH :LOOKS LIKE HIGH POSSIBILITY OF END OF DIVERGENCE AT RECENT BOTTOM: IT HAS TO CATCH UP NOW FOR FURTHER CONFIRMATION:
ANY KIND OF SHORT TERM VOLATALITY/ CONSOLIDATION OR DECLINE IS STOCK SPECIFIC BUYING OPPORTUNITY FOR SHORT TO MEDIUM TERM INVESTMENT PERSPECTIVES:TRAIL TILL IT REVERSES:
Market closed 7th concecutive week in positive territory. It has achieved my short term targets levels as expected. It made a high of 11761 levels on nifty & 39270.14 levels on sensex so far in this rally. It looks like high possibility of wave-III of 5 Extension case in short term towards higher levels targets as per chart attached in short term. On the other hand, Failed to extend from here will open up possibilty of consolidation range on nifty between 11300-11700 levels in short term but any kind of decline or consolidation is buying opportunity till short term reverses.
We have seen further participation started from broader market during this week. Midcap & small cap Indices closed weekly in positive territory. Participation from broader market ( Particularly midcap & Small cap indices)from last couple of days are good sign at current levels of market as expected. It has to catch up now for further confirmation of over all trend of the market. It looks like high possibility end of this divergence at recent bottom and from now onwards, we will get broader market rally for higher levels targets in short to medium term. And eventually midcap & small cap Indices will also make all time high in this calender year. Risk Reward is favourable to BUY stock specific at current levels of market.
BANK NIFTY closed weekly in positive territory. It has also achieved my short term targets levels near recent high. It made a high of 30,915.70 levels so far in this rally. Its looks like also wave-III of 5 extension case on bank nifty in short term as per chart attached. 27000 levels is strong support on bank nifty, till it holds one can expect higher levels targets till 32500 levels in short term. On the other hand, Failed to extend from here will open up possibilty of consolidation range on Bank nifty between 29200-30900 levels in short term but any kind of decline or consolidation is buying opportunity till short term reverses. 23600 levels is strong support for medium term perspectives, till it holds, One can expect higher levels targets in the range of 34000 levels on medium term perspectives.
11500 & 12000 levels is strong support & resistance levels respectively based on option open interest data for expiry perspectives for current month series. Any kind of such short term correction or consolidation is stock specific buying opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST is in SELL but DAILY MACD are in BUY supporting short term trend of market . One should be stock specific & follow the trend with trail stop loss levels till it reverses.Risk Reward is favourable to BUY at current levels of market. Close below short term reversal levels will lead to sharp correction till 10300 levels on nifty & 34400 levles on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both are in BUY & market is closed above 20WESM & 40 WEMA. ALL Medium term momentum indicators are in BUY supporting medium term trend. Investor should follow trend till medium term reverses.
Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 05.04.2019
Market closed in positive territory at 38,862.43 (+ 177.51)SHORT TERM TARGETS ACHIEVED: TRAIL TILL IT REVERSES:
LOOKS LIKE WAVE-III OF 5 IS GOING TO EXTEND SLOW AND STEADY TOWARDS HIGHER LEVELS TARGETS:
BROADER MARKET ARE SHOWING STRENGTH :LOOKS LIKE HIGH POSSIBILITY OF END OF DIVERGENCE AT RECENT BOTTOM: IT HAS TO CATCH UP NOW FOR FURTHER CONFIRMATION:
ANY KIND OF SHORT TERM VOLATALITY/ CONSOLIDATION OR DECLINE IS STOCK SPECIFIC BUYING OPPORTUNITY FOR SHORT TO MEDIUM TERM INVESTMENT PERSPECTIVES:TRAIL TILL IT REVERSES:
We have seen further participation started from broader market during this week. Midcap & small cap Indices closed weekly in positive territory. Participation from broader market ( Particularly midcap & Small cap indices)from last couple of days are good sign at current levels of market as expected. It has to catch up now for further confirmation of over all trend of the market. It looks like high possibility end of this divergence at recent bottom and from now onwards, we will get broader market rally for higher levels targets in short to medium term. And eventually midcap & small cap Indices will also make all time high in this calender year. Risk Reward is favourable to BUY stock specific at current levels of market.
BANK NIFTY closed weekly in positive territory. It has also achieved my short term targets levels near recent high. It made a high of 30,915.70 levels so far in this rally. Its looks like also wave-III of 5 extension case on bank nifty in short term as per chart attached. 27000 levels is strong support on bank nifty, till it holds one can expect higher levels targets till 32500 levels in short term. On the other hand, Failed to extend from here will open up possibilty of consolidation range on Bank nifty between 29200-30900 levels in short term but any kind of decline or consolidation is buying opportunity till short term reverses. 23600 levels is strong support for medium term perspectives, till it holds, One can expect higher levels targets in the range of 34000 levels on medium term perspectives.
11500 & 12000 levels is strong support & resistance levels respectively based on option open interest data for expiry perspectives for current month series. Any kind of such short term correction or consolidation is stock specific buying opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST is in SELL but DAILY MACD are in BUY supporting short term trend of market . One should be stock specific & follow the trend with trail stop loss levels till it reverses.Risk Reward is favourable to BUY at current levels of market. Close below short term reversal levels will lead to sharp correction till 10300 levels on nifty & 34400 levles on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both are in BUY & market is closed above 20WESM & 40 WEMA. ALL Medium term momentum indicators are in BUY supporting medium term trend. Investor should follow trend till medium term reverses.Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 41000-41500 |  | 36448 |
| Medium Term : | Trend | Reversal |
| 42500-43000 | | 32483 |
| Short Term : | Trend | Reversal |
| 12300-12500 | | 10940 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |