Market Outlook
FRIDAY, DeCEMBER 07, 2018
Market Outlook (Closing) as on 07.12.2018
Market closed in positive territory at 35,673.25 (+ 361.12)
WEEKLY NEGATIVE CLOSE: SHORT TERM SUPPORT HOLD: TRAIL TILL IT REVERSES:
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 weekly in negative territory. It sharply reversed near from crucial support levels at the end of trading session. It made a low of 10588.25 levels on nifty & 35266.76 levels on sensex. One can expect market to trend towards higher levels targets as mentioned below in short to medium term till it reverses.
There are few altenatives from wave count perspectives as per chart attached. But all indicating bullish outlook till medium term reverses.Risk reward is favourable to BUY stock specific at current levels.
Broader market is still underperforming at current levels of market, its not a good sign for overall medium to long term trend of market. One should watchout its behavior at these crucial levels of market for further confirmation of medium term trend of market.
BANK NIFTY also closed weekly in negative territory. It also sharply reversed near from support levels. It made a low of 26234.10 levels. 25900 levels is strong support on bank nifty, till it holds one can expect higher levels taregts till 27000-27500 levels in short term.23600 levels is strong support on bank nifty from medium term perspectives till it holds one can expect higher levels targets in the range of 30000-32000 levels in medium term.
10200/10500 & 11000 levels is strong support & resistance levels respectively based on option open interest data for current month series. Any kind of such short term correction or consolidation is buying stock specific opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST went in to SELL & DAILY MACD are still in BUY supporting short term trend indicating volatality ahead of state election results next week. One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close or sustain below short term reversal levels will lead to correction till 10400/10200 levels on nifty & 34672/34000 levels on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both Went in to SELL & Its trading below both 20WESM & 40 WEMA . All Medium term Parameters are showing weakness. One should watchout price reversal to finally conclude medium term reversal.
Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 07.12.2018
Market closed in positive territory at 35,673.25 (+ 361.12)WEEKLY NEGATIVE CLOSE: SHORT TERM SUPPORT HOLD: TRAIL TILL IT REVERSES:
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:
There are few altenatives from wave count perspectives as per chart attached. But all indicating bullish outlook till medium term reverses.Risk reward is favourable to BUY stock specific at current levels.
Broader market is still underperforming at current levels of market, its not a good sign for overall medium to long term trend of market. One should watchout its behavior at these crucial levels of market for further confirmation of medium term trend of market.
BANK NIFTY also closed weekly in negative territory. It also sharply reversed near from support levels. It made a low of 26234.10 levels. 25900 levels is strong support on bank nifty, till it holds one can expect higher levels taregts till 27000-27500 levels in short term.23600 levels is strong support on bank nifty from medium term perspectives till it holds one can expect higher levels targets in the range of 30000-32000 levels in medium term.
10200/10500 & 11000 levels is strong support & resistance levels respectively based on option open interest data for current month series. Any kind of such short term correction or consolidation is buying stock specific opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST went in to SELL & DAILY MACD are still in BUY supporting short term trend indicating volatality ahead of state election results next week. One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close or sustain below short term reversal levels will lead to correction till 10400/10200 levels on nifty & 34672/34000 levels on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both Went in to SELL & Its trading below both 20WESM & 40 WEMA . All Medium term Parameters are showing weakness. One should watchout price reversal to finally conclude medium term reversal.Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 36800-37800 |  | 34896 |
| Medium Term : | Trend | Reversal |
| 42500-43000 | | 32483 |
| Short Term : | Trend | Reversal |
| 11000-11400 | | 10489 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |