moneycontrol.com network18online.com

 

SENSEX: 41115.38 -208.43

NIFTY: 12106.90 -62.95

Market Outlook

Ventura Securities,

12.00 AM Dec 30th 2019

Support comes in at the 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078, 10979, 10878, 10783, 10665, 10550, 10490 while resistance comes in at 12100.

The Nifty hasn't been able to make more upside, has found resistance from the 12300 level and after just a single day close below the 12150 level, has bounced back to come once again within striking distance of the aforesaid resistance level. Needless to say that it needs to sustain above the 12150 level. Maximum call open interest comes in at 12500 followed by 12200 while maximum put open interest comes in at 12000 followed by 12200 indicating a skewed but slightly higher trading range (not very surprising considering that we are in the first week of the current series) compared to the last week but the situation remains fluid with movements expected on either side. Nifty has seen some decent reduction in open interest during the week to end at 1.22 cr (rounded off) and has seen a decrease of nearly 07.39% (rounded off) on the last trading session of the week; the Bank Nifty open interest has seen some major open interest being added (it stands at 15.26 lakh - rounded off) compared to the last week; has actually seen significant increase in open interest (23.69%) on the last trading session of the week. The Vix has spent almost the entire week in a rangebound movement (with a clear negative bias) above the 14.00 level (in terms of closing) except that it ended at 10.52 (lower from an intra week high of 14.52) which has resulted in a mixed market. The Nifty seems to have entered a small consolidation phase although the medium and long term charts still retain a positive sheen but a close above the 12300 level is a must for a further upside to unfold. The outlook remains positive while even the mid caps and small caps seem upbeat, the Bse Psu Index can spring a positive surprise. Support comes in at the 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078, 10979, 10878, 10783, 10665, 10550, 10490 while resistance comes in at 12100.

Market Action

INDIAN INDICES

S&P BSE Auto18348.94-158.69
S&P BSE BANKEX34971.31-330.35
NIFTY BANK30701.50-246.00
S&P BSE Capital Goods17066.57-156.54
S&P BSE Consumer Durables25627.90-25.69
S&P BSE FMCG11824.90-5.36
S&P BSE Healthcare14003.34-2.11
S&P BSE IT16097.99172.88
S&P BSE Metals10218.23-163.30
S&P BSE Oil and Gas14336.99-216.59
S&P BSE PSU6707.60-93.12
S&P BSE TECk8060.3984.45
S&P BSE Smallcap14633.16-18.60
S&P BSE Midcap15536.63-50.04
Nifty MID100 Free17931.00-21.00

GLOBAL INDICES

EXCLUSIVE LIVE CHAT!

How are the markets looking?

Hemen Kapadia, Technical Analyst

Day - 14th Jan. 2020
Time - 13.00hrs

View last chat transcript