Stock Futures Market

27Sep

Nifty Outlook For Tomorrow By Epic Research

A bearish engulfing pattern with largest one day loss butchers the bulls as Nifty slides below all crucial moving averages it was holding from last December. A close below 9800 confirms that damage can be much sever in coming days as no breathing space is left for short term bulls.
A bearish engulfing pattern is seen which has engulfed the previous sessions some minor rebound while a close below 9800 is signalling more bearishness in market. On Immediate basis the support for market is seen at 9700 which in case holds may provide a short term relief coupled with  rollover data which is way weaker as compared to last few months with a day more to go. We see short term support for market coming at 9540 – 9600 which may give some meaningful pause. On higher side point of inflection is seen at 9800 – 9840.
As Far as OI data is  concerned we may see much weaker expiry this month which may set the bearish tone for October series.
We are cautious with sell on rise approach and any rise shall be used for the same. Some defensive play is observed in FMCG and Infosys but that may as well evaporate given the strength of bears on overall market.
For more join us on #WhatsApp ✆ – 7049084664 or visit- http://goo.gl/tnNd6t
23Sep

Nifty Outlook For Monday By Epic Research

 

Nifty slides with second biggest loss of the year as geo political tensions turns sentiments bearish for traders across globe. A week that started with a smaller consolidations and a tight range of trading finally paved the way for bears as it breached below 10K mark. A bearish engulfing pattern clearly indicates the strength as it engulfed the previous week gains as well and mandates the short term trend to be weaker.

Nifty inched higher making a new all time high at 10178 with a positive open while it consolidated for two broad days due to exhaustion of breadth of the market. The much needed breadth turned negative as there was a turn in negative sentiment due to lackluster participation by heavyweights like Bankex, metals and Infra.
The short term trend suggest writers are active at 9800 and 9900 while on the higher side 10200 proves to be a resistance. A sudden shift in overall trading range also suggest that in coming week it will be hard to see a rebound which may last longer given the change in OI.
As global tensions mount with North Korea pushing to a next level of tests with H bomb, it will be hard for bulls to have a comeback which was as swift as before. Also we dont see any cues that can lead us to a decline in volatility.
We suggest to be cautious with a sell on rise approach while it will be prudent to watch few levels. Support on immediate basis is seen at 9900 9860 while if breached on closing basis we may see further correction towards 9700. Resistance is now placed at 10040 10090 and will be very hard for bulls to sustain above it.
For more join us on #WhatsApp ✆ – 7049084664 or visit- http://goo.gl/tnNd6t
© 2008-17. All Rights Reserved. Epic Research Pvt. Ltd.