Market Outlook
FRIDAY, SEPTEMBER 20, 2019
Market Outlook (Closing) as on 20.09.2019
Market closed in positive territory at 38017.62 (+1921.15)
SURPRISE SHARP REVERSAL ON BOOSTER DOZE:
PULL BACK RALLY TO EXTEND FURTHER IN SHORT TERM : 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 surprisingly sharply reversed on boosterdoze from government & closed with biggest daily gain at the end of trading session.It just short term of my short term targets levels on nifty as expected earlier. It made a low of 10691 on nifty & 35987.80 levels on sensex. It made a double bottom kind of pattern at lower levels on main indices. One should expect market to trend towards higher levels targets in pull back rally as mentioend below in short term. One should buy stock specific on any decline or consolidation till short term reverses.
Although oversall short term wave count is not conclusive in short term but it all suggest pull back rally to extend further on upside as per chart attched till it reverses.
Broader market particularly midcap & small cap Indices going to out perform from here on & it also looks like medium to long term bottom on these indices. One should start to buy selective stocks in portfolio from midcap & small cap segements from medium to long term persepctives.
BANK NIFTY also surprisingly sharply reversed on boosterdoze from government & closed with biggest daily gain at the end of trading session. It made a double bottom kind of pattern at lower levels in this indices. One can expect target1-29800 & target2-30800 levels in short term. 26600 levels is strong support/Reversal levels in short term for the same.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.
11000 & 11500 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 are in BUY supporting short term trend . 11075 & 37450 levels is strong support zone for 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 SELL & market is closed below 20WESM & 40 WEMA. ALL Medium term momentum indicators are in SELL indicating weakness but Investor should follow trend till medium term reverses.
Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
Market Outlook (Closing) as on 20.09.2019
Market closed in positive territory at 38017.62 (+1921.15)SURPRISE SHARP REVERSAL ON BOOSTER DOZE:
PULL BACK RALLY TO EXTEND FURTHER IN SHORT TERM : 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 oversall short term wave count is not conclusive in short term but it all suggest pull back rally to extend further on upside as per chart attched till it reverses.
Broader market particularly midcap & small cap Indices going to out perform from here on & it also looks like medium to long term bottom on these indices. One should start to buy selective stocks in portfolio from midcap & small cap segements from medium to long term persepctives.
BANK NIFTY also surprisingly sharply reversed on boosterdoze from government & closed with biggest daily gain at the end of trading session. It made a double bottom kind of pattern at lower levels in this indices. One can expect target1-29800 & target2-30800 levels in short term. 26600 levels is strong support/Reversal levels in short term for the same.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.
11000 & 11500 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 are in BUY supporting short term trend . 11075 & 37450 levels is strong support zone for 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 SELL & market is closed below 20WESM & 40 WEMA. ALL Medium term momentum indicators are in SELL indicating weakness but Investor should follow trend till medium term reverses.Conclusion:
Short Term Trend is UP & Medium term Trend is UP.
Trend
| Short Term : | Trend | Reversal |
| 38600-39300 |  | 35987 |
| Medium Term : | Trend | Reversal |
| 42500-43000 | | 32483 |
| Short Term : | Trend | Reversal |
| 11600-11800 | | 10635 |
| Medium Term : | Trend | Reversal |
| 12600-12900 | | 9951 |