Market Outlook
FRIDAY, November 15, 2019
Market Outlook (Closing) as on 15.11.2019
Market closed in positive territory at 40356.69 (+ 70.21)
SLOW & STEADY EXTENDING TOWARDS HIGHER LEVELS TARGETS: 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 slow & steady extending towards higher levels targets. It has achieved my first term short term targets levels as expected. It made a high of 12034.15 levels on nifty & 40749.33 levels on sensex so far in this rally. It looks like possibility to extend it towards higher levels targets till it reverses. One should BUY stock specific on any decline or consolidation till short term reverses.
Although overall short term wave count is still not conclusive in short term.It looks like probability of forming Leading diagonal kind of pattern. But its indicating one should be on stock specific on buy side at current levels or any kind of decline.
BANK NIFTY also closed weekly in positive territory. Its started to participate in the rally this week. It has achieved my first short term targets levels near recent high as expected. It made a high of 31222.90 levels so far in this rally.Its slow & steady extending towards higher levels targets. Its consolidated well in short term. 29350 is strong support/Reversal levels for bank nifty in short term. One can expect higher levels target1-31700 & target2-32000 levels in short term. 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.
11800/11600 &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 went in to SELL indicating volatility to continue in short term . Close below short term reversal levels will lead to sharp correction till 11075-10800 & 37450-36450 levels in short term .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 15.11.2019
Market closed in positive territory at 40356.69 (+ 70.21)SLOW & STEADY EXTENDING TOWARDS HIGHER LEVELS TARGETS: 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:
Although overall short term wave count is still not conclusive in short term.It looks like probability of forming Leading diagonal kind of pattern. But its indicating one should be on stock specific on buy side at current levels or any kind of decline.
BANK NIFTY also closed weekly in positive territory. Its started to participate in the rally this week. It has achieved my first short term targets levels near recent high as expected. It made a high of 31222.90 levels so far in this rally.Its slow & steady extending towards higher levels targets. Its consolidated well in short term. 29350 is strong support/Reversal levels for bank nifty in short term. One can expect higher levels target1-31700 & target2-32000 levels in short term. 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.
11800/11600 &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 went in to SELL indicating volatility to continue in short term . Close below short term reversal levels will lead to sharp correction till 11075-10800 & 37450-36450 levels in short term .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 |
| 40000-41000 |  | 38718 |
| Medium Term : | Trend | Reversal |
| 42500-43000 | | 32483 |
| Short Term : | Trend | Reversal |
| 12100-12300 | | 11490 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |