Market Outlook
WEDNESDAY, December 18, 2019
Market Outlook (Closing) as on 18.12.2019
Market closed in positive territory at 41558.57 (+ 206.40)
TREND TOWARDS SHORT TERM TARGETS LEVELS:
MIDCAP & SMALL CAP MAY OUT PERFORM IN SHORT TERM:
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 extended further after wave-iv short term consolidation as expected earlier. Its moving towards short term targets levels as per chart attached. One should watch out market behavior at these levels. 11700 levels on nifty & 40135 levels on sensex is strong support zone respectively for any kind of fresh buying opportunity in case of any short term correction or consolidation in short term.
It looks like Wave-v of I of 5 as per short term wave counts as per chart attached. One should watch out market behavior at higher levels for further confirmation of short term trend. It looks like possibility of midcap & small cap stocks & Indices may outperform in short term. One should watch out these indices behavior at higher levels in short term for further confirmation of near term trend.
BANK NIFTY also extended further after wave-iv short term consolidation as expected earlier. Its moving towards short term targets levels as per chart attached. 30600 is strong support & reversal levels for short term for any kind of correction.One can expect higher levels target of 32600 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.
12000 &12300 levels is strong support & resistance levels respectively based on option open interest data for expiry perspectives next week. 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 indicating supporting short term trend . Close below short term reversal levels will lead to sharp correction till 11100 & 37450 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 18.12.2019
Market closed in positive territory at 41558.57 (+ 206.40)TREND TOWARDS SHORT TERM TARGETS LEVELS:
MIDCAP & SMALL CAP MAY OUT PERFORM IN SHORT TERM:
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 of I of 5 as per short term wave counts as per chart attached. One should watch out market behavior at higher levels for further confirmation of short term trend. It looks like possibility of midcap & small cap stocks & Indices may outperform in short term. One should watch out these indices behavior at higher levels in short term for further confirmation of near term trend.
BANK NIFTY also extended further after wave-iv short term consolidation as expected earlier. Its moving towards short term targets levels as per chart attached. 30600 is strong support & reversal levels for short term for any kind of correction.One can expect higher levels target of 32600 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.
12000 &12300 levels is strong support & resistance levels respectively based on option open interest data for expiry perspectives next week. 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 indicating supporting short term trend . Close below short term reversal levels will lead to sharp correction till 11100 & 37450 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 |
| 41900 |  | 39180 |
| Medium Term : | Trend | Reversal |
| 45000-47000 | | 32483 |
| Short Term : | Trend | Reversal |
| 12300-12350 | | 11600 |
| Medium Term : | Trend | Reversal |
| 13800-14000 | | 9951 |