Market Outlook
FRIDAY, DeCEMBER 14, 2018
Market Outlook (Closing) as on 14.12.2018
Market closed in positive territory at 35,962.93 (+ 33.29)
WEEKLY POSITIVE CLOSE AFTER HIGH VOLTALITY DURING THE WEEK: 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 positive territory after high volatality ahead of state election results this week. It managed to hold short term support levels as mentioned last week after knee jurk reaction below it intraday at the begining of the week. It made a low of 10333 levels on nifty & 34426 levels on sensex during the week. One can expect market to trend towards higher levels targets as mentioned below in short to medium term till it reverses.
It looks like begining of wave-iii of 5 from short wave count perspectives as per chart attached. We have seen broader market partcipation this week, its good sign at current levels of market for medium to long term trend of the market as mentioned last week. Risk reward is favourable to BUY stock specific at current levels.
BANK NIFTY also closed weekly in positive territory. It managed to hold short term support levels as mentioned last week after knee jurk reaction below it intraday at the begining of the week. It made a low of 25700 levels during the week. One can expect higher levels targets till 28500 levels in short term till this support levels holds. 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.
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 & DAILY MACD came in to BUY supporting short term trend . 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 came in to BUY & closed above 20WESM but WEEKLY MACD are still in SELL & closed below 40 WEMA. 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 14.12.2018
Market closed in positive territory at 35,962.93 (+ 33.29)WEEKLY POSITIVE CLOSE AFTER HIGH VOLTALITY DURING THE WEEK: 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 begining of wave-iii of 5 from short wave count perspectives as per chart attached. We have seen broader market partcipation this week, its good sign at current levels of market for medium to long term trend of the market as mentioned last week. Risk reward is favourable to BUY stock specific at current levels.
BANK NIFTY also closed weekly in positive territory. It managed to hold short term support levels as mentioned last week after knee jurk reaction below it intraday at the begining of the week. It made a low of 25700 levels during the week. One can expect higher levels targets till 28500 levels in short term till this support levels holds. 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.
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 & DAILY MACD came in to BUY supporting short term trend . 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 came in to BUY & closed above 20WESM but WEEKLY MACD are still in SELL & closed below 40 WEMA. 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 |
| 36800-37650 |  | 34426 |
| Medium Term : | Trend | Reversal |
| 42500-43000 | | 32483 |
| Short Term : | Trend | Reversal |
| 11000-11300 | | 10333 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |