Daily Nifty Technical Outlook by Finvasia
News - Daily Nifty Technical Outlook by Finvasia in COMMUNITY CENTER - Once again, the bears entered the market and led CNX Nifty to break all its support levels to close at ...
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Daily Nifty Technical Outlook by Finvasia

  1. NIFTY Outlook and Trading Levels for 14th May

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    Once again, the bears entered the market and led CNX Nifty to break all its support levels to close at 5980, above the key level of 5950.

    Nifty, if breaks its immediate support of 5960 it may head towards the 5920 levels, which is its 20 EMA as well.

    If NSE Nifty will sustain above the support area of 5960-5970 we might see a pullback rally with 6038 as the immediate resistance and moving above that we might see the second resistance at 6080 levels.

    Source: Finvasia Research


  2. NIFTY Outlook and Trading Levels for 15th May

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    Yesterday, Nifty Fifty closed below the key level of 6000 at 5995.40 after testing the support at 5968.25. The benchmark index broke the 9 EMA at 6009 but failed to sustain above that.

    Nifty if moves on the downside, can face the major support at 5968 and braking below that we may see sustainable support near 5920.

    On the upside, if the fifty share index rallies, it can test the first resistance at 6038 and any crossover above that, we may see Nifty heading towards 6080 levels.

    Source: Finvasia Research

  3. NIFTY Outlook and Trading Levels for 16th May

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    Nifty 50 broke the YTD highs and closed at 28 months high today, indicating that the bulls are strong in the market.

    If the Bulls continue with their hunger, can take Nifty to 6183 levels and further breaking over that we may see index heading towards 6210 levels.

    On the contrary, if Nifty breaks below the minor support of 6107, we may see some weakness emerging and bears entering the market.

    On the downside, Nifty will see 6080 as the major support and breaking below that we may see it testing 6038 levels.

    Source: Finvasia Research

  4. NIFTY Outlook and Trading Levels for 17th May

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    Nifty Fifty yesterday after testing its resistance of 6183 closed 0.38% higher at 6169. If Nifty continues with the uptrend we will see it testing the immediate resistance near 6180 and moving above that we may see nifty stepping to 6210 levels. On the downside, Nifty has a minor support at 6107 and below that it may see 6080 and 6030 levels as major support.

    Source: Finvasia Research

  5. NIFTY Outlook and Trading Levels for 20th May

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    Nifty Fifty tested its resistance of 6180 and closed higher by 0.28%. Nifty faces a minor support at 6150 level and a strong support at 6110 to 6080 levels.

    On the upside 6180 continues to be the resistance and 6210 the next level of resistance for nifty.

    Source: Finvasia India

  6. NIFTY Outlook and Trading Levels for May 21st 2013

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    CNX Nifty tapped high of 6229 and closed down by 0.49%. 6145 and 6110 are the next support levels for Nifty.

    If Nifty convincingly moved below 6140 level in the intra-day we might see the index tripped to 6120-6110 level and consolidation at these levels.

    Nifty continues to face resistance at 6180 level and the next resistance stands at 6220 levels. The technical charts show Nifty has made a bearish engulfing pattern leading to a possible bearishness in the markets and correction in future.

    We see a very small bearish divergence in RSI further adding to the signs for correction in the market. The oscillation indicators MACD and RSI are in overbought zone indicating a correction in the markets is evident.

    Source: Finvasia Research

  7. NIFTY Outlook and Trading Levels for May 22nd 2013

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    Nifty 50 in yesterday’s session convincingly traded below 6140 levels and closed at 6114.10. Nifty is forming the head and shoulder pattern in intraday charts and if the benchmark index breaks the 6110 levels decisively, we may see it correcting to 6020-6040 levels.

    On the upside 6180 acts as the major resistance and if nifty breaks that we will see the bullish trend once again in the market and the next resistance will be seen at 6220.

    On the downside, the immediate support lies near 6110 and breaking under that, we may see bearish move to 6080 and 6030 levels.

    Source: Finvasia Research

  8. NIFTY Outlook and Trading Levels for May 23rd 2013

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    CNX Nifty in yesterday’s session tested the key level of 6140 and dropped to close below the key support of 6110 at 6094.50.

    If the benchmark index continues with the correction, we may see it breaking the immediate support at 6080 and if it breaks this support, we will see further weakness coming in the market with the next support at 6038.

    If Nifty moves on the upside, we may see the first resistance at 6120 and moving above that we will see bulls entering once again in the market and taking the index to next resistance level of 6180.

    Source: Finvasia Research

  9. Post NIFTY Outlook and Trading Levels for May 24th

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    NSE Nifty in yesterday’s session stabilized near the major support of 5960 and near low point of the day at 5967, extending the previous corrections.

    The immediate major support is at 5960 and further the 5945 is the crucial level, which is 61.8% Fibonacci retracement as well.

    If Nifty breaks this range of 5930 to 5960, we will see more weakness in market with index testing 5850 levels. But, if nifty stabilizes near yesterday’s closing level, we may see a reversal in the downtrend and index testing the immediate resistance at 6000 following which, we will see some strength in the market with nifty testing 6038 and 6080 levels.

    The 6080 levels will act as the important resistance levels and we may not see the benchmark index going above these levels.

    Source: Finvasia Research

  10. NIFTY Outlook and Trading Levels for May 27th







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    Last week CNX Nifty ended the session at 5983.55 being 0.28% lower after testing the major support at 5945.

    If Nifty follows the uptrend, we may see immediate resistance at 6000 and moving above that, the resistance is at 6038 and 6080.

    On the downside, Nifty is expected to test the Fibonacci 61.8% retracement at 5945 and if it decisively breaks the 5945 to 5930 range, we will see the 50 share index heading towards 5850 levels.

    Source: Finvasia Research

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