Market Outlook
THURDAY, NOVEMBER 25, 2021
Market Outlook (Closing) as on 25.11.2021
Market closed in Positive territory at 58,795.09 (+454.10)
SHORT TERM TARGETS ACHIEVED:
CONCLUDING ENDS OF WAVE-IV SHORT TERM CORRECTION:
BEGINNING OF WAVE-V OF 5 RALLY TOWARDS HIGHER LEVELS TARGETS: TRAILL TILL IT REVERSES:
BE STOCK SPECIFIC & KEEP PERIODIC PROFIT BOOKING IN THIS FINAL PHASE OF RALLY IN MARKET:.
Market managed to hold lower end of range & closed daily in positive territory. It looks like completion of wave-IV short term correction & beginning of final wave-V of 5 towards higher levels targets as mentioned below in short to medium term till it reverses. One should follow the trend till it reverses.
It looks like beginning of wave-V of 5 for final higher levels targets in short to medium term as mentioned below till it reverses as per chart attached.
BANK NIFTY is underperforming in short term. It looks like end of wave-IV correction in short term. It made a low of 36647.55 levels in short term. One can expect bank nifty to rally towards 42000 levels in short to medium term till it holds 36647 levels in near term.
17000/17500 & 18000/18500 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far for expiry perspectives. Roll over data suggesting long roll over by FII. One should be stock specific & Keep periodic profit booking in this phase of rally in market.
Momentum indicators Daily KST & Daily MACD both are in SELL indicating volatile trend. Close below short term reversal levels will lead to sharp fall towards 17000- 16600 levels in nifty & 56860-55000 levels in short term.One should strictly follow trend till it reverses.
Momentum Perspective:
Weekly KST & WEEKLY MACD are in SELL. Market is still closed above 20WESM & 40 WEMA. One should wait for 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 25.11.2021
Market closed in Positive territory at 58,795.09 (+454.10)SHORT TERM TARGETS ACHIEVED:
CONCLUDING ENDS OF WAVE-IV SHORT TERM CORRECTION:
BEGINNING OF WAVE-V OF 5 RALLY TOWARDS HIGHER LEVELS TARGETS: TRAILL TILL IT REVERSES:
BE STOCK SPECIFIC & KEEP PERIODIC PROFIT BOOKING IN THIS FINAL PHASE OF RALLY IN MARKET:.
It looks like beginning of wave-V of 5 for final higher levels targets in short to medium term as mentioned below till it reverses as per chart attached.
BANK NIFTY is underperforming in short term. It looks like end of wave-IV correction in short term. It made a low of 36647.55 levels in short term. One can expect bank nifty to rally towards 42000 levels in short to medium term till it holds 36647 levels in near term.
17000/17500 & 18000/18500 is strong support zone & Resistance zone levels respectively based on option open interest data for current month series so far for expiry perspectives. Roll over data suggesting long roll over by FII. One should be stock specific & Keep periodic profit booking in this phase of rally in market.
Momentum indicators Daily KST & Daily MACD both are in SELL indicating volatile trend. Close below short term reversal levels will lead to sharp fall towards 17000- 16600 levels in nifty & 56860-55000 levels in short term.One should strictly follow trend till it reverses.
Momentum Perspective:
Weekly KST & WEEKLY MACD are in SELL. Market is still closed above 20WESM & 40 WEMA. One should wait for price reversal to finally conclude medium term reversal.Conclusion:
Short Term Trend is UP & Medium term Trend is UP
Trend
| Short Term : | Trend | Reversal |
| 60000-61000 |  | 57718 |
| Medium Term : | Trend | Reversal |
| 62200-63500/64000 | | 56860 |
| Short Term : | Trend | Reversal |
| 17900-18200 | | 17216 |
| Medium Term : | Trend | Reversal |
| 18600-18900/19100 | | 17000 |