NIFTY Outlook for the week of 05 Mar, 2018 - 09 Mar, 2018. |
NIFTY
Nifty View: Sideways to bearish; pullbacks will only be an entry for selling side | Upside Resistance: 10624-10657 | Downside Resistance: 10300-10246
From the levels of 10632 to the levels of 10447, Nifty made a downside move of 185 points in the past week and finally wrapped up the last week by closing at the levels of 10458.
Nifty weekly charts indicate the formation of a strong bearish candle; monthly candle is a strong bearish engulf pattern. The weekly opening based on daily charts will be in the negative. Any upside movement will only be a pullback referring to retracement of previous month's engulf pattern. Based on major indicators, such as, RSI at the levels of 53, MACD in the negative territory, and ADX at 17, Nifty will support a bearish view for first few sessions of the week.
Nifty weekly charts indicate the formation of a strong bearish candle; monthly candle is a strong bearish engulf pattern. The weekly opening based on daily charts will be in the negative. Any upside movement will only be a pullback referring to retracement of previous month's engulf pattern. Based on major indicators, such as, RSI at the levels of 53, MACD in the negative territory, and ADX at 17, Nifty will support a bearish view for first few sessions of the week.
BANK NIFTY
Bank Nifty View: Bearish | Upside Resistance: 25340-25480 | Downside Resistance: 24620-24400-24100
From the levels of 25724 to the levels of 24854, Bank Nifty made approximately 870 points downside move and closed at the levels of 24903.
The weekly candle shows a bearish candle with closing below major moving average. Moving average crossover is intact on the chart and a strong bearish move has set in for the week ahead. Major moving indicators, such as, RSI at the levels of 47, ADX at the levels of 17, and MACD in the negative territory supports a bearish view.
The weekly candle shows a bearish candle with closing below major moving average. Moving average crossover is intact on the chart and a strong bearish move has set in for the week ahead. Major moving indicators, such as, RSI at the levels of 47, ADX at the levels of 17, and MACD in the negative territory supports a bearish view.
INDIA VIX
The volatility indicator attempted to move from the levels of 14.83 to the levels of 13.80. For the coming week volatility is expected to remain within a range of 10-12.
Weekly Pivot Levels
Index |
Resistance 2 |
Resistance 1 |
Pivot |
Support 1 |
Support 2 |
NIFTY 50 |
10697.33 |
10577.67 |
10512.33 |
10392.67 |
10327.33 |
NIFTY BANK |
26030.33 |
25466.67 |
25160.33 |
24596.67 |
24290.33 |
Activity as on 01 Mar, 2018
FII |
DII |
+241.85 Cr. |
-3.29 Cr. |
Index* |
Latest Close |
Previous Day |
One Week ago |
One Month ago |
01-Mar-18 |
28-Feb-18 |
22-Feb-18 |
30-Jan-17 |
|
NIFTY 50 |
10458.35 |
10492.85 |
10382.70 |
11049.65 |
INDIA VIX |
14.0725 |
13.8050 |
14.8325 |
16.4150 |
NIFTY BANK |
24902.55 |
25107.40 |
24955.20 |
27269.05 |
NIFTY AUTO |
11146.70 |
11157.20 |
10847.95 |
11627.90 |
NIFTY FIN SERVICE |
10372.60 |
10439.10 |
10396.85 |
11208.15 |
NIFTY FMCG |
26492.35 |
26513.70 |
26460.75 |
27512.10 |
NIFTY IT |
12769.45 |
12809.00 |
12730.25 |
13107.90 |
NIFTY PHARMA |
8917.75 |
8960.25 |
8861.75 |
9563.55 |
NIFTY REALTY |
324.75 |
326.90 |
319.65 |
344.80 |
* indicates the numbers as of end of day (EOD).
