Equity Report

Pre-Market Wednesday! Asian market neutral trading, Nifty50 on the SGX were trading lower at 17516.5 -24 points on indicating gap down opening for the NSE.

Rupee desk: The USD/INR was up 0.04% to 79.400.

Technical Outlook

Nifty daily chart has formed a "Descending broadening wedge" pattern. The Nifty was trading higher, only to close in the green. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap down, to continue on bullish momentum, once the same break above the current resistance level near 17600. The upside rally could be tested all the way up to 17750-17900 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17400. A slide to 17250-17100 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Technical Outlook

Bank nifty 4hr chart has formed a “Rising channel" pattern. Bank Nifty was trading higher, only to close in the green. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38400. The upside rally could be testing up to 38700-39000 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37800. A slide to 37500 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Pre-Market Monday! Asian market neutral trading, Nifty50 on the SGX were trading lower at 17376 -47.50 points on indicating gap down opening for the NSE.

Rupee desk: The USD/INR was up 0.04% to 79.400.

Technical Outlook

Nifty daily chart has formed a "Descending broadening wedge" pattern. The Nifty was trading sideways, only to close in the slight red. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap down, to continue on bullish momentum, once the same break above the current resistance level near 17450. The upside rally could be tested all the way up to 17600-17750 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17250. A slide to 17100-16950 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Technical Outlook

Bank nifty 4hr chart has formed a “Rising channel" pattern. Bank Nifty was trading sideways, only to close in the slight green. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38100. The upside rally could be testing up to 38400-38700 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37500. A slide to 37200 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Pre-Market Friday! Asian market neutral trading, Nifty50 on the SGX were trading higher at 17459.50 +62.50 points on indicating gap up opening for the NSE.

Rupee desk: The USD/INR was up 0.09% to 79.147.

Technical Outlook

Nifty daily chart has formed a "Descending broadening wedge" pattern. The Nifty was trading higher, only to close in the slight red. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap up, to continue on bullish momentum, once the same break above the current resistance level near 17450. The upside rally could be tested all the way up to 17600-17750 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17250. A slide to 17100-16950 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Technical Outlook

Bank nifty daily chart has formed a “Falling channel" pattern (broken out). Bank Nifty was trading higher, only to close in the slight red. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38000. The upside rally could be testing up to 38300-38600 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37400. A slide to 37100 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Pre-Market Thursday! Asian market neutral trading, Nifty50 on the SGX were trading higher at 17486 +46.50 points on indicating gap up opening for the NSE.

Rupee desk: The USD/INR was up 0.09% to 79.147.

Technical Outlook

Nifty daily chart has formed a "Descending broadening wedge" pattern. The Nifty was trading a little higher, only to close in the slight green once again. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap up, to continue on bullish momentum, once the same break above the current resistance level near 17400. The upside rally could be tested all the way up to 17550-17700 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17200. A slide to 17050-16900 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Technical Outlook

Bank nifty daily chart has formed a “Falling channel" pattern (broken out). Bank Nifty was trading sideways, only to close in the slight green. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38100. The upside rally could be testing up to 38400-38700 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37500. A slide to 37200 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Pre-Market Wednesday! Asian market neutral trading, Nifty50 on the SGX were trading higher at 17392 +66 points on indicating gap up opening for the NSE.

Rupee desk: The USD/INR was up 0.09% to 78.679.

Technical Outlook

Nifty daily chart has formed a "Descending broadening wedge" pattern. The Nifty was trading sideways, only to close in the green once again. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap up, to continue on bullish momentum, once the same break above the current resistance level near 17400. The upside rally could be tested all the way up to 17550-17700 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17200. A slide to 17050-16900 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Technical Outlook

Bank nifty daily chart has formed a “Falling channel" pattern (broken out). Bank Nifty was trading a little higher, only to close in the green. Technically, Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38100. The upside rally could be testing up to 38400-38700 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37500. A slide to 37200 is also a possibility if the price makes or breaks below the current support level.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.