Stock Market Outlook: Nifty and Bank Nifty Share Price Target (15th to 19th Oct 2018)-A relief rally on last week has gained Sensex and Nifty 1-1.5 percent. The rally was due to fall in Commodity market especially Crude oil which fell sharply in last week.
The rupee also strengthens 0.53 paise against the dollar on last Friday. Along with Nifty, Banknifty and Sensex Mid-cap index also gained strongly last week. The large caps stocks like Yes Bank, Kotak Mahindra Bank, Reliance, Maruti Suzuki were few in the top gainer's list last week.
The rupee also strengthens 0.53 paise against the dollar on last Friday. Along with Nifty, Banknifty and Sensex Mid-cap index also gained strongly last week. The large caps stocks like Yes Bank, Kotak Mahindra Bank, Reliance, Maruti Suzuki were few in the top gainer's list last week.
The macro data announced on 12th October 2018 shows that Inflation (CPI) has increased slightly from 3.69 percent to 3.77 percent and Industrial production was 4.3percent in August against 6.6 percent in July. The market may react negatively on Monday on key macro data released on last Friday after market hours.
The corporate earning session has started, last week we have seen the excellent TCS result again this week some big corporate will announce their quarterly result some of them are RIL, HDFC Bank, IndusInd Bank, ICICI Bank, NIIT, Infosys, Ultratech Cement etc. The market is expected to be volatile based on large-cap result this week.
Along with the above factors again Crude Oil price, Rupee and Global cues will play an important role to cross Nifty 10550 and Bank Nifty above 26200 levels.
Let us now look into the Technical aspect of Nifty and Bank nifty future share price for the coming week from 15th Oct to 19th Oct 2018
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| Stock Market Outlook: 15th Oct to 19th Oct 2018 Nifty Levels |
Nifty Weekly Outlook
Primary Trend of Nifty Future: Corrective OHLC-(10273.9/10508.90/10155.55/10486.55)
Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 10595 whereas all down moves initiate Short Covering (Buy) @ 10375
If Nifty future share price moves above 10527 then you should Buy with 1st Target of 10662 during the day or any point during the week by Trailing the Stop Loss from 10370-10455-10510-10575-10670-10725 FOR the Target of 10730-10795-10880
If Nifty future share price moves below 10440 then you should Sell with 1st Target of 10310 during the day or at any point during the week by Trailing the Stop Loss from 10600-10515-10475-10390-10295-10245 FOR the Target of 10245-10175-10090.
Bank Nifty future Weekly Outlook
Primary Trend Bank Nifty Future: Corrective OHLC-(24444.70/25514.55/24285/25406.95)
Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 25735, whereas all down moves initiate Short Covering (Buy) @ 24975
If Bank Nifty future share price moves above 25500 then you should Buy with 1st Target of 25965 during the day or any point during the week by Trailing the Stop Loss from 24970-24260-25440-25730-26020-26200 FOR the Target of 26200-26440-26730
If Bank Nifty future share price moves below 25205 then you should Sell with 1st Target of 24750 during the day or at any point during the week by Trailing the Stop Loss from 25740-25450-25470-24980-24690-24525 FOR the Target of 24500-24270-23980
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Finogyan Team
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