Market Outlook
FRIDAY, SEPTEMBER 09, 2022
Market Outlook (Closing) as on 09.09.2022
Market closed in positive territory at 59,793.14 (+ 104.14)
CONSOLIDATING IN NARROW RANGE: TRAIL TILLIT REVERSES
AT VERY CRUCIAL RESISTANCE ZONE OF MEDIUM TERM REVERSAL:
INDIA IS OUT PERFORMING ASCOMPARE TO WORLD MARKET IN SHORT TERM:
WORLD MARKET BEHAVIOR IS A SIGN OF CAUTION IN SHORT TERM:
WORLD MARKET BEHAVIOR IS VERY IMPORTANT FROM HERE ON TO EXTEND RALLY IN NEAR TERM:
MEDIUM TO LONG TERM INVESTOR CAN USE THIS CORRECTION FOR STOCK SPECIFIC BUYING OPPORTUNITY: TRAIL TILL IT REVERSES:
Market is consolidating in narrow range in near term. It closed weekly in positive territory. It’s also near crucial cluster of resistance zone of medium term reversal levels. One should wait for price confirmation for finally conclude medium term reversal at these crucial levels. India is out performing compare to world markets in near term. World Market behavior is a sign of caution in near term. World Market behavior is very important from here on to extend rally in near term. Trader should buy stock specific & keep periodic profit booking at current levels of market. One should follow trend with trailing stop loss levels till it reverses.
Market is near medium term reversal levels as mentioned below. It’s trading near cluster of resistance zone. It can be Wave-X pullback rally or Impulsive rally is not so far conclusive till medium term reverses as per overall wave counts chart attached. One should watch out market behavior around these levels to finally conclude the same.
Bank nifty is outperforming at current levels of market. It’s also near crucial cluster of resistance zone at current levels. Short term trend remains up till Bank nifty trades above 37950 levels. It’s also approaching towards revised medium term reversal levels. 41800 are crucial resistance/medium term reversal levels. One should watch out market behavior around these levels to finally conclude medium term reversal
17500/18000 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far from expiry perspectives. Derivatives data showing mix structure in short term Trader should book profit at regular intervals as market is very crucial medium term resistance zone.
Momentum indicators Daily KST is in BUY & Daily MACD are in SELL indicating volatile short term trend. Trader should be Stock specific & keeps regular profit booking in this pullback rally while Investor should use any kind of correction or consoldation to buy stock specific in tranches in disciplined manner from long term perspectives.
Momentum Perspective:
Weekly KST & Weekly MACD both came in to BUY. Market closed above 20WESM & 40 WEMA. One should watch out for price Reversal to finally conclude Medium term Reversal
Conclusion:
Short Term Trend is UP & Medium term Trend is Down
Trend
Market Outlook (Closing) as on 09.09.2022
Market closed in positive territory at 59,793.14 (+ 104.14)CONSOLIDATING IN NARROW RANGE: TRAIL TILLIT REVERSES
AT VERY CRUCIAL RESISTANCE ZONE OF MEDIUM TERM REVERSAL:
INDIA IS OUT PERFORMING ASCOMPARE TO WORLD MARKET IN SHORT TERM:
WORLD MARKET BEHAVIOR IS A SIGN OF CAUTION IN SHORT TERM:
WORLD MARKET BEHAVIOR IS VERY IMPORTANT FROM HERE ON TO EXTEND RALLY IN NEAR TERM:
MEDIUM TO LONG TERM INVESTOR CAN USE THIS CORRECTION FOR STOCK SPECIFIC BUYING OPPORTUNITY: TRAIL TILL IT REVERSES:
Market is near medium term reversal levels as mentioned below. It’s trading near cluster of resistance zone. It can be Wave-X pullback rally or Impulsive rally is not so far conclusive till medium term reverses as per overall wave counts chart attached. One should watch out market behavior around these levels to finally conclude the same.
Bank nifty is outperforming at current levels of market. It’s also near crucial cluster of resistance zone at current levels. Short term trend remains up till Bank nifty trades above 37950 levels. It’s also approaching towards revised medium term reversal levels. 41800 are crucial resistance/medium term reversal levels. One should watch out market behavior around these levels to finally conclude medium term reversal
17500/18000 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far from expiry perspectives. Derivatives data showing mix structure in short term Trader should book profit at regular intervals as market is very crucial medium term resistance zone.
Momentum indicators Daily KST is in BUY & Daily MACD are in SELL indicating volatile short term trend. Trader should be Stock specific & keeps regular profit booking in this pullback rally while Investor should use any kind of correction or consoldation to buy stock specific in tranches in disciplined manner from long term perspectives.
Momentum Perspective:
Weekly KST & Weekly MACD both came in to BUY. Market closed above 20WESM & 40 WEMA. One should watch out for price Reversal to finally conclude Medium term ReversalConclusion:
Short Term Trend is UP & Medium term Trend is Down
Trend
| Short Term : | Trend | Reversal |
| 60400/60800 |  | 58722 |
| Medium Term : | Trend | Reversal |
| 47200-46500 |  | 60846 |
| Short Term : | Trend | Reversal |
| 17900/18000 | | 17166 |
| Medium Term : | Trend | Reversal |
| 14200-13700 | | 18116 |