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Nifty Outlook for 27 January 2012

The Nifty opened flat with a positive bias following positive cues from other Asian markets. It ended the day 31 points, or 0.60%, higher at 5,158.30.On daily charts, it ended in a candlestick pattern that resembles like a spinning top, which suggest indecision at the current level and buyers losing momentum. Also, it is approaching near 200-day SMA, after a sharp up move since the beginning of 2012. RSI in the overbought territory suggests profit booking at higher levels. Hence, if the low of the spinning top is violated that is 5,130 then, we can see the nifty correcting up to 5,060 and 4,950. The bias, however, will remain positive until it closes below the previous candle from here. On the upside, Nifty is likely to face resistance at 5,180 and 5,214 (200-day SMA). On the other side, 5,130 and 5,110 are the support levels.

The trading ideas for this week include stocks from Heavy Electrical Equipment & Auto Tyres/Rubber Products sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 26th, 2012 | Tags: Asian markets, daily charts, NIFTY, positive, profit, RSI, SMA, stocks, stop loss, target price, Trading | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 25 January 2012

The Nifty opened relatively flat with a positive bias. It gained momentum and the Nifty posted a high of 5,141 after the CRR cut by the RBI. It ended the day 81 points, or 1.61%, higher at 5,127.35. During the next trading session, the index is likely to face resistance near 200-day SMA, after a sharp up move since the beginning of 2012. In addition, RSI in the overbought territory suggests profit booking at higher levels. During the day, 5,150 and 5,200 may act as the supply zone. On the downside, 5060 could act as the immediate support zone.

The trading ideas for this week include stocks from Commercial Vehicles & Textiles sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 24th, 2012 | Tags: NIFTY, positive, RBI, RSI, sectors, session, SMA, stocks, Trading | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 23 January 2012

Last week, Nifty opened on a quiet note and traded with positive bias for most part of the week. On week on week basis, the index rose 3.75%. The Nifty witnessed a strong intra-week rally and moved towards the expected level of 5,000 levels. On daily charts, it ended in a gravestone candlestick pattern, indicating the possibility of profit booking or consolidation. In the coming week, if it trades below 4,990, it may correct up to 4,930 and 4,840 levels. On the upside, if the index sustains above 5,100, it may test the 5,220 (200-day SMA). Traders are advised to stay cautious as volatility is likely to increase on account of the RBI’s monetary policy and F&O expiry.

The trading ideas for this week include stocks from Banks & Sugar sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 22nd, 2012 | Tags: daily charts, Index, intra-week, NIFTY, positive, SMA, stocks, traded, trades | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 20 January 2012

The Nifty opened higher and continued to trade in positive territory amid a firm trend in the Asian Markets. On daily charts as well as on hourly charts RSI is approaching the overbought territory. Hence, traders should be cautious at higher levels. It is likely that the Nifty may face resistance at higher levels. During the day, 5,050 and 5,070 are the supply zone. On the downside, 4,980 could act as the immediate support level.

The trading ideas for this week include stocks from Restaurants & Broadcasting/Cable TV sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 19th, 2012 | Tags: Asian markets, daily charts, hourly charts, NIFTY, RSI, stocks, stop loss, target price, trade, Trading | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 19 January 2012

The Nifty opened marginally higher but failed to sustain at higher levels. As expected the Nifty corrected during the day and posted an intraday low of 4.930. On the upside, if the Nifty sustains above Wednesday’s high of 4,980 it may face resistance at 5,020 and 5,040 in the near-term. On the downside, 4,920 and 4,880 could act as the immediate support levels.

The trading ideas for this week include stocks from Plastics & Plastic Products sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 18th, 2012 | Tags: intraday, near-term, NIFTY, stocks, target price, Trading, upside | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 18 January 2012

The Nifty opened in the red and inched higher as the day progressed; it tested an intraday high of 4,975.55. We stated previously that a move above the 4921-4918 levels would lead the Nifty to test 4,950 and 4,980. On hourly charts, RSI is approaching overbought territory. Hence, intraday correction cannot be ruled out from current levels; it may correct up to 4,950 and 4,920. On the upside, if the Nifty sustains above Tuesday’s high, it may face resistance at 5,020 and 5,040 in the near-term.

The trading ideas for this week include stocks from IT Consulting/Software & Refineries/Petro-Products sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 17th, 2012 | Tags: downside, hourly charts, intraday, low point, near-term, NIFTY, RSI | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 17 January 2012

The Nifty opened lower and tested an intraday low of 4,827 in the first hour of the trade. However, it recovered from the early lows to close in the positive terrain. The Nifty ended marginally higher at 4,873.90. On daily charts, momentum oscillators are placed in the bullish territory. From current levels index has immediate resistance at the down gap area formed on 9th December in the range of 4921-4918 levels. Any move above the said level would lead it to test 4,950 and 4,980. On the downside, support is at 4,780 (20-day EMA).

The trading ideas in this report include stocks from Financial Institutions & Airlines sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 16th, 2012 | Tags: daily charts, EMA, Index, intraday, NIFTY, trade | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 16 January 2012

Last week, Nifty opened on flat note and traded with positive bias for most part of the week. On week on week basis the index rose 2.50%. With last week gains, the Nifty, after three weeks of consolidation, gave a breakout on the upside by closing above its 11 week’s down sloping trend line.  For the second consecutive week, index formed a bullish candle with higher High-Low formation, suggesting positive bias among traders. On the daily chart, index managed to cross the 61.2% Fibonacci retracement level of 4882 but failed to close above the same.  Daily prices have formed a Doji candles which illustrate market indecision. From current levels index has immediate resistance at the down gap area formed on 9th Dec. in the range of 4921-4918 levels. Any move above the said level would lead it to test 4,950 and 4,980. For the coming week, index is expected to continue its positive momentum in the range of 4800 to 5000 levels. On the downside, immediate supports are remains at 4,780 (20-day EMA).
The weekly strength indicator RSI is placed positive above its reference line indicating rising strength. The momentum indicator- Stochastic has also turned up from oversold zone which supports bullish momentum to continue in the near term.

The trading ideas for this week include stocks from Textiles & Education sectors. Download the report to know the stocks, their target price and stop loss, and Nifty movement forecast.

To read more and view charts, click here.

January 15th, 2012 | Tags: Doj, EMA, Index, NIFTY, positive, RSI, traded, week gains | Category: Aranca India Technical Analysis Daily | Leave a comment

Nifty Outlook for 13 January 2012

The Nifty ended the day 30 points, or 0.61%, lower at 4,831.25. As expected, the Nifty corrected during the day and made a low of 4,803. On daily charts, it failed to cross the prior session’s high and breached the Wednesday’s low of 4,840 to test 4,803. During the next trading session, it is likely that the Nifty may find support near the downward sloping trend line. On the other side, 4,870 and 4,880 may act as short-term hurdle.

To read more and view charts, click here.

January 12th, 2012 | Tags: daily charts, NIFTY, points, session, short-term, Trading | Category: Aranca India Technical Analysis Daily | Leave a comment