Market Outlook
FRIDAY, SEPTEMBER 14, 2018
Market Outlook (Closing) as on 14.09.2018
Market closed in positive territory at 38,090.64 (+ 372.68)
2nd CONCECUTIVE WEEKLY NEGATIVE CLOSE WITH HIGH VOLATALITY: LOOKS EXTENSION OF RALLY FURTHER TOWARDS HIGHER LEVELS TARGETS:
LOWER END OF CHANNEL SUPPORT HOLDS: LOOKS LIKE END OF SHORT TERM CORRECTION/CONSOLIDATION:
ANY KIND OF SHORT TERM VOLTALITY/ CONSOLIDATION OR DECLINE IS STOCK SPECIFIC BUYING OPPORTUNITY FOR SHORT TO MEDIUM TERM INVESTMENT PERSPECTIVES:TRAIL TILL IT REVERSES:
Market closed 2nd concecutive week in negative territory. It remained highly volatile in this time wise consolidation or corrective phase during the week as expected. It made a low of 11,250.20 levels on nifty & 37,342 levels on sensex during the week. It managed to hold lower end channel support levels on nifty & sensex as per daily chart attached. It looks like end of short term correction/consolidation at these lower levels & market is likely extend further towards higher levels targets as mentioned below in short to medium term.Any kind of short term consolidation or correction is stock specific buying opportunity till short term reverses.
It looks like end of wave-iv of 5 correction as per daily chart attached on nifty & sensex. One needs to see broader market behavior next week to get furhter clue of overall market. It has to outperform & catch up with main indcies with faster pace in rally ahead.
BANK NIFTY closed weekly in negative territory. It remained underperformer & corrected sharply beyond anticipation during the week. Although wave count is not conclusive in short term but it also managed to hold lower end channel support levels as per daily chart attached. 26700 levels looks strong support for bank nifty, till it holds one can exepct higher levels targets till 29000 levels in short term. 23600 levels is crucial support for bank nifty from medium term perspectives, till it holds one can higher levels targets till 32800-33000 levels on bank nifty in medium term.
11000/11200 & 11600/11800 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 buying opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST & DAILY MACD both are in sell indicating volatality in short term. One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close below short term reversal levels will lead to sharp correction till 10500-10400 levels on nifty & 34900-34300 levels on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both are in BUY & Its trading above both 20WESM & 40 WEMA . All Medium term Parameters are showing strength.One can expect market to trend towards higher level targets in medium term. Any kind of short term correction or consolidation in buying opportunity for medium to long term Investment perspectives till it reverses.
Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 14.09.2018
Market closed in positive territory at 38,090.64 (+ 372.68)2nd CONCECUTIVE WEEKLY NEGATIVE CLOSE WITH HIGH VOLATALITY: LOOKS EXTENSION OF RALLY FURTHER TOWARDS HIGHER LEVELS TARGETS:
LOWER END OF CHANNEL SUPPORT HOLDS: LOOKS LIKE END OF SHORT TERM CORRECTION/CONSOLIDATION:
ANY KIND OF SHORT TERM VOLTALITY/ CONSOLIDATION OR DECLINE IS STOCK SPECIFIC BUYING OPPORTUNITY FOR SHORT TO MEDIUM TERM INVESTMENT PERSPECTIVES:TRAIL TILL IT REVERSES:
It looks like end of wave-iv of 5 correction as per daily chart attached on nifty & sensex. One needs to see broader market behavior next week to get furhter clue of overall market. It has to outperform & catch up with main indcies with faster pace in rally ahead.
BANK NIFTY closed weekly in negative territory. It remained underperformer & corrected sharply beyond anticipation during the week. Although wave count is not conclusive in short term but it also managed to hold lower end channel support levels as per daily chart attached. 26700 levels looks strong support for bank nifty, till it holds one can exepct higher levels targets till 29000 levels in short term. 23600 levels is crucial support for bank nifty from medium term perspectives, till it holds one can higher levels targets till 32800-33000 levels on bank nifty in medium term.
11000/11200 & 11600/11800 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 buying opportunity for medium to long term Investment perspectives till medium term reverses.
Momentum indicators Daily KST & DAILY MACD both are in sell indicating volatality in short term. One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close below short term reversal levels will lead to sharp correction till 10500-10400 levels on nifty & 34900-34300 levels on sensex in short term.
Momentum Perspective:
Weekly KST & WEEKLY MACD both are in BUY & Its trading above both 20WESM & 40 WEMA . All Medium term Parameters are showing strength.One can expect market to trend towards higher level targets in medium term. Any kind of short term correction or consolidation in buying opportunity for medium to long term Investment perspectives till it reverses.Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 39800-40000 |  | 36443 |
| Medium Term : | Trend | Reversal |
| 43200 | | 32483 |
| Short Term : | Trend | Reversal |
| 11900-12000 | | 11171 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |