Market Outlook
TUESDAY, JANUARY 11, 2022
Market Outlook (Closing) as on 11.01.2022
Market closed in Positive territory at 60616.89 (+221.26)
FIRST SHORT TERMT TARGETS ACHIEVED:
VOLATILITY CAN POSSIBLE AHEAD OF BUDGET EVETS IN COMING DAYS:
REVISING HIGHER LEVELS TARGETS FOR SHORT TO MEDIUM TERM PERSPECTIVES: TRAIL TILL IT REVERSES:
BUY STOCK SPECIFIC AT CURRENT LEVELS OR ANY KIND OF DECLINE OR CONSOLIDATION IN THIS FINAL PHASE OF RALLY IN MARKET:
Market rallied from lower levels as expected. It has achieved first short term targets levels range today as expected earlier. It made a high of 18081.25 levels on nifty & 60689.25 levels on sensex today. We can see sharp volatile movement ahead of budget event this month. One can expect rally to continue on upside for further higher levels targets in short to medium term as mentioned below. One should buy stock specific at current levels or any kind of decline or consolidation till overall trend reverses.
It looks like final wave-V beginning rally from recent bottom as per chart attached from overall wave count perspectives. One can expect rally to continue for further revised higher levels targets in short to medium term perspectives till it reverses.
BANK NIFTY also sharply bounced back from lower levels. It has also achieved my short term targets levels range as expected earlier. It made a high of 38504.60 levels. One can expect higher levels targets from overall wave counts perspectives as per chart attached. 35500 levels crucial support for short to medium term perspectives.
BANK NIFTY is underperforming in short term. It made a low of 34018 levels in this correction. Although overall wave counts is not conclusive for Bank nifty at current levels but one can expect rally from lower levels till 34000-33900 support levels holds for bank nifty from short to medium term perspectives. One can expect rally pull back rally for higher levels targets of 39000/40000 levels in short term & target2-42000/43000 levels in medium term.
17500 & 18000 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far for expiry perspectives.
Momentum indicators Daily KST & Daily MACD both are in BUY supporting short term trend. Close below short term reversal levels will lead to sharp fall towards 16400- 15400 levels in nifty & 55000-51800 levels in short term. One should strictly follow trend till it reverses.
Momentum Perspective:
Weekly KST & WEEKLY MACD are in SELL. Market is still closed above 20WESM & 40 WEMA. One should wait for 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 11.01.2022
Market closed in Positive territory at 60616.89 (+221.26)FIRST SHORT TERMT TARGETS ACHIEVED:
VOLATILITY CAN POSSIBLE AHEAD OF BUDGET EVETS IN COMING DAYS:
REVISING HIGHER LEVELS TARGETS FOR SHORT TO MEDIUM TERM PERSPECTIVES: TRAIL TILL IT REVERSES:
BUY STOCK SPECIFIC AT CURRENT LEVELS OR ANY KIND OF DECLINE OR CONSOLIDATION IN THIS FINAL PHASE OF RALLY IN MARKET:
It looks like final wave-V beginning rally from recent bottom as per chart attached from overall wave count perspectives. One can expect rally to continue for further revised higher levels targets in short to medium term perspectives till it reverses.
BANK NIFTY also sharply bounced back from lower levels. It has also achieved my short term targets levels range as expected earlier. It made a high of 38504.60 levels. One can expect higher levels targets from overall wave counts perspectives as per chart attached. 35500 levels crucial support for short to medium term perspectives.
BANK NIFTY is underperforming in short term. It made a low of 34018 levels in this correction. Although overall wave counts is not conclusive for Bank nifty at current levels but one can expect rally from lower levels till 34000-33900 support levels holds for bank nifty from short to medium term perspectives. One can expect rally pull back rally for higher levels targets of 39000/40000 levels in short term & target2-42000/43000 levels in medium term.
17500 & 18000 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far for expiry perspectives.
Momentum indicators Daily KST & Daily MACD both are in BUY supporting short term trend. Close below short term reversal levels will lead to sharp fall towards 16400- 15400 levels in nifty & 55000-51800 levels in short term. One should strictly follow trend till it reverses.
Momentum Perspective:
Weekly KST & WEEKLY MACD are in SELL. Market is still closed above 20WESM & 40 WEMA. One should wait for price reversal to finally conclude medium term reversal.Conclusion:
Short Term Trend is UP & Medium term Trend is UP
Trend
| Short Term : | Trend | Reversal |
| 59800-60800-62200 |  | 57578 |
| Medium Term : | Trend | Reversal |
| 65000-65800 | | 55132 |
| Short Term : | Trend | Reversal |
| 17800-18200-18600 | | 17145 |
| Medium Term : | Trend | Reversal |
| 19600-20000 | | 16400 |