Market Outlook
FRIDAY, JUNE 14, 2019
Market Outlook (Closing) as on 14.06.2019
Market closed in negative territory at 39,452.07 (- 289.29)
CONCLUDING SHORT TERM REVERSAL: 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 2nd concecuitve week in negative territory. Its showing lost of momentum after achieving my short term targets levels as mentioned earleir. It made a high of 12103 levels on nifty & 40312 levels on sensex. Its looks like market to correct first before heading towards higher levels targets in medium term till short term reverses. On the other hand, we may see market to trade in range between 11500-12000 levels on nifty as time wise consolidation before heading towards higher levels targets in medium term.
It looks like possibility of End of 5 wave advance from bottom of october 2018 as per chart attached on main indices such as nifty/Sensex & Bank nifty. It looks like some price wise correction for lower levels taregts till lower end of channel as mentioned below as per chart attached before furhter extend for higher levels taregts in medium term.
Broader market such as midcap & small cap indices is still underperforming inspite of being main indices such as nifty/sensex & Bank nifty is hitting all time high levels. Its not a good sign at current levels of market. Its now almost one & half years, we are seeing these divergence between main indices & broader market. I am anitcipating these divergence to end soon but its still not happening, its warning sign at current levels of market. It has to catch up & participate now for my over all medium to long term bullish trend of market. One should closely watchout broader market behavior at current levels of market.
BANK NIFTY closed weekly in positive territory. Its showing lost of mometum after achieving my short term targets levels. It made a high of 31816 levels.Its looks like market to correct first before heading towards higher levels targets in medium term till short term reverses. One can expect bank nifty to correct till 29100-29000 levels first till these recent high surpasses. 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. Any kind of decline or consolidation is buying opportunity till short term reverses. On the other hand, it can consolidate between 29000-31000 levels in short term as time wise consolidation before heading towards higher levels targets in medium term.
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 & DAILY MACD both are in SELL supporting short term trend of market . One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close above short term reversal levels will finally confirm trend towards further higher levels targets in medium 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 DOWN & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 14.06.2019
Market closed in negative territory at 39,452.07 (- 289.29)CONCLUDING SHORT TERM REVERSAL: 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:
It looks like possibility of End of 5 wave advance from bottom of october 2018 as per chart attached on main indices such as nifty/Sensex & Bank nifty. It looks like some price wise correction for lower levels taregts till lower end of channel as mentioned below as per chart attached before furhter extend for higher levels taregts in medium term.
Broader market such as midcap & small cap indices is still underperforming inspite of being main indices such as nifty/sensex & Bank nifty is hitting all time high levels. Its not a good sign at current levels of market. Its now almost one & half years, we are seeing these divergence between main indices & broader market. I am anitcipating these divergence to end soon but its still not happening, its warning sign at current levels of market. It has to catch up & participate now for my over all medium to long term bullish trend of market. One should closely watchout broader market behavior at current levels of market.
BANK NIFTY closed weekly in positive territory. Its showing lost of mometum after achieving my short term targets levels. It made a high of 31816 levels.Its looks like market to correct first before heading towards higher levels targets in medium term till short term reverses. One can expect bank nifty to correct till 29100-29000 levels first till these recent high surpasses. 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. Any kind of decline or consolidation is buying opportunity till short term reverses. On the other hand, it can consolidate between 29000-31000 levels in short term as time wise consolidation before heading towards higher levels targets in medium term.
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 & DAILY MACD both are in SELL supporting short term trend of market . One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close above short term reversal levels will finally confirm trend towards further higher levels targets in medium 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 DOWN & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 37500-38000 |  | 40312 |
| Medium Term : | Trend | Reversal |
| 42500-43000 |  | 32483 |
| Short Term : | Trend | Reversal |
| 11500-11300 | | 12103 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |