Market Outlook
WEDNESDAY, JANUARY 15, 2020
Market Outlook (Closing) as on 15.01.2020
Market closed in negative territory at 41872.73 (- 79.90)
WAVE-V EXTENSION CASE FOR HIGHER LEVELS TARGETS IN SHORT TERM: TRAIL TILL IT REVERESES:
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 showing sign of extension in short term. It managed to found support at lower levels. It made a low of 11929 levels on nifty & 40476.55 levels on sensex. It finally sustain & close above short term reversal levels at the end of trading session & showing sign of extension in short term. One can expect market to trend towards higher levels targets as mentioned below. Trader should be stock specific & follow the trend till it reverses.
It looks like wave-V extension case so far from wave count perspectives in short term as per chart attached. We can eventually see further alternatives from wave count perspectives if any, but conclusively one can buy stock specific at current levels or any kind of decline till short term reverses.
As expecting, we are seeing midcap & small cap out performance & broad based rally from last couple of trading session. Its very good sign at current levels of market. I believe, we will continue to see same broad based rally ahead as well. I feel we will see big catch up in midcap & small cap stocks & indices in this whole year ahead. One should create stock specific portfolio in broader market to earn god return in medium to long term perspectives in rally ahead.
BANK NIFTY also showing sign of extension in short term. It managed to found support at lower levels. It made a low of 30971.80 levels. One can expect bank nifty to trend towards target of 33200 levels in short term. 30700 levels is strong support/Reversal levels for bank nifty. Any kind or consolidation is buying opportunity in short term . 27100 levels is crucial support levels from medium to long term perspectives, till it holds, One can expect higher levels target1-35300 & target2-40500 levels on medium term to long term.
12000 &12500 levels is strong support & resistance levels respectively based on option open interest data so far 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 BUY supporting short term trend . One should be stock specific & follow the trend with trail stop loss levels till it reverses.
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 indicating strength & supporting medium to long term trend.
Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 15.01.2020
Market closed in negative territory at 41872.73 (- 79.90)WAVE-V EXTENSION CASE FOR HIGHER LEVELS TARGETS IN SHORT TERM: TRAIL TILL IT REVERESES:
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 wave-V extension case so far from wave count perspectives in short term as per chart attached. We can eventually see further alternatives from wave count perspectives if any, but conclusively one can buy stock specific at current levels or any kind of decline till short term reverses.
As expecting, we are seeing midcap & small cap out performance & broad based rally from last couple of trading session. Its very good sign at current levels of market. I believe, we will continue to see same broad based rally ahead as well. I feel we will see big catch up in midcap & small cap stocks & indices in this whole year ahead. One should create stock specific portfolio in broader market to earn god return in medium to long term perspectives in rally ahead.
BANK NIFTY also showing sign of extension in short term. It managed to found support at lower levels. It made a low of 30971.80 levels. One can expect bank nifty to trend towards target of 33200 levels in short term. 30700 levels is strong support/Reversal levels for bank nifty. Any kind or consolidation is buying opportunity in short term . 27100 levels is crucial support levels from medium to long term perspectives, till it holds, One can expect higher levels target1-35300 & target2-40500 levels on medium term to long term.
12000 &12500 levels is strong support & resistance levels respectively based on option open interest data so far 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 BUY supporting short term trend . One should be stock specific & follow the trend with trail stop loss levels till it reverses.
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 indicating strength & supporting medium to long term trend.Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 42500 |  | 39440 |
| Medium Term : | Trend | Reversal |
| 45000-47000 | | 32483 |
| Short Term : | Trend | Reversal |
| 12500-12600 | | 11694 |
| Medium Term : | Trend | Reversal |
| 13800-14000 | | 9951 |