NIFTY Outlook for the week of 15 Jan, 2018 - 19 Jan, 2018. |
NIFTY
Nifty View: Bullish | Upside Resistance: 10740-10784 | Downside Resistance: 10580-10550
From the levels of 10588 to the levels of 10690, Nifty made an upside move of 102 points in the past week and finally wrapped up the last week by closing at the levels of 10681. Nifty finally managed to hold above the key levels of 10650 for the first three trading sessions of the week and for the first time made a new all time high at the levels of 10690. Last session of the week was highly volatile on account of IIP data release and Infosys quarterly earnings results. Highly positive data supported the bullish view.
The Nifty weekly charts are showing strength for an upside rally. Taking a look at all the major indicators (RSI at the levels of 68, ADX at the levels of 25, and MACD in the positive territory), Nifty gives a clear indication that it is supporting a bullish view. The markets are at an all time high; so the possibility of dips cannot be ignored and dips should be taken as an entry to initiate fresh trades.
The Nifty weekly charts are showing strength for an upside rally. Taking a look at all the major indicators (RSI at the levels of 68, ADX at the levels of 25, and MACD in the positive territory), Nifty gives a clear indication that it is supporting a bullish view. The markets are at an all time high; so the possibility of dips cannot be ignored and dips should be taken as an entry to initiate fresh trades.
BANK NIFTY
Bank Nifty View: Bullish | Upside Resistance: 25950-26000 | Downside Resistance: 25600-25550
From the levels of 25527 to the levels of 25803, Bank Nifty made approximately 276 point move and closed at the levels of 25749.
The weekly candle shows good strength on the upside and gives an indication for a strong upside rally for the coming week. Indicators have strong point towards an upside rally. ADX at the level of 27, RSI at the levels of 64, and MACD in the positive territory supports the bullish view.
The weekly candle shows good strength on the upside and gives an indication for a strong upside rally for the coming week. Indicators have strong point towards an upside rally. ADX at the level of 27, RSI at the levels of 64, and MACD in the positive territory supports the bullish view.
INDIA VIX
The volatility indicator attempted to move from the levels of 13.11 to the levels of 14.01 during the last week and India VIX finally rounded up the week at the levels of 13.73. Volatility is expected to remain in the range of 12-13 for the coming week.
Weekly Pivot Levels
Index |
Resistance 2 |
Resistance 1 |
Pivot |
Support 1 |
Support 2 |
NIFTY 50 |
10,755.00 |
10,718.00 |
10,653.00 |
10,616.00 |
10,551.00 |
NIFTY BANK |
25,969.00 |
25,859.00 |
25,693.00 |
25,583.00 |
25,417.00 |
Activity as on 12 Jan, 2018
FII |
DII |
-158.16 Cr. |
696.25 Cr. |
Index* |
Latest Close |
Previous Day |
One Week ago |
One Month ago |
12-Jan-18 |
11-Jan-18 |
05-Jan-18 |
13-Dec-17 |
|
NIFTY 50 |
10,681.25 |
10,651.20 |
10,558.85 |
10,192.95 |
INDIA VIX |
13.7325 |
14.0125 |
13.1125 |
15.9450 |
NIFTY BANK |
25,749.05 |
25,660.90 |
25,601.85 |
25,000.35 |
NIFTY AUTO |
11,908.40 |
11,871.75 |
11,929.60 |
11,264.65 |
NIFTY FIN SERVICE |
10,531.55 |
10,486.25 |
10,473.25 |
10,248.70 |
NIFTY FMCG |
27,196.65 |
27,307.70 |
26.914.30 |
26,159.70 |
NIFTY IT |
12,099.15 |
12,103.10 |
11,633.55 |
11,251.70 |
NIFTY PHARMA |
9,714.85 |
9,772.85 |
9,701.05 |
9,002.80 |
NIFTY REALTY |
366.80 |
372.25 |
347.30 |
311.00 |
* indicates the numbers as of end of day (EOD).
