Realiance Look Cheap : Market Updates

We saw a big spike up in RIL yesterday, there is no clear cut explanation or something which can be given as a reason for the same, but i think the combination of factors made that move possible. One was the KG basin talk. Secondly, the refining margins like the product margins have also moved up sharply over the last few weeks. So, some analysts are becoming more bullish on refining margins for this quarter.

Overall, the stock continues to be cheap. However, I think the triggers are still lacking in terms of creating a longer term bigger upmove because the production in KG basin is still falling. So, I think it’s a cheap stock. It will keep on having its rallies in between, but there doesn’t seem to be any big upmove coming through, unless and until the telecom story starts unfolding.

By - Prabhudas Lilladher

Stock Market Outlook For Tomorrow 17-Feb

It was almost good trading session today. Markets recovered from the lows of the day and finally closed with moderate losses. Realty, power, capital goods and IT sectors were gainers of the day while metal and oil & gas came under selling pressure.

Global sentiments may continue to influence market behavior and could make it highly volatile. Two consecutive closings above 5,500 level have made the short term trend of the Nifty bullish. For Intraday trading tomorrow Nifty is having important resistance levels at 5550-5600, while on the downside support exists 5,450-5,420.

Nifty Outlook & Trading Strategy For Tomorrow 10-Feb

Finally Nifty has closed above 5,400 level after many trading session which indicates that the short term trend has turned positive. Global developments will continue to play crucial role in sentiment preparation. Cautious approach is recommended to traders as market has become highly volatile. On the domestic front, impending elections and the resultant anticipation of election winners will influence market sentiments. Downside support exists at 5,320 and then 5,260.

For intraday trading tomorrow, immediate resistance exists at 5450 level, and any trades above this level may lead Nifty to the 5,500 5,550 levels.. For Nifty intraday support exists at 5350 level and any trades below this level would intensify selling pressure till 5,300-5,250levels..

Markets Outlook For Tomorrow 08-Feb

Nifty showed selling pressure from resistance near 5,400 levels and closed in red. Nifty is having tough time near 5,400 levels. Further buying interest may be seen only above 5,400 levels. On downside, Nifty has support in 5,250-5,200 zone. For Daily Purpose, Trend deciding level is 5,350. If Nifty shows strength above 5,350 levels, then rally to 5,400/5,450/5,500 may be seen. If Nifty does not show strength above 5,350 levels then selling pressure till 5,300/5,250/5200 may also be seen.

Nifty intraday Trend For Tomorrow 22-Sept

Markets traded range-bound today with great ups and downs. IMF's trimming of growth forecast for India sounds a warning signal and will make global investors trim their expectations, accordingly. The resistance levels for Nifty (spot) continue to be at 5,180 and 5,320 where it fills an open gap. And on the downside, 4,990-4,910 remain supports.

For intraday trading tomorrow, we can see 5080 as the immediate support level and if this is broken, then next support is seen at 5050-5012. On higher levels, 5175 is the immediate resistance level for Nifty and any gains above these levels may take it to resistance at 5200-5235.

Nifty Intraday outlook for Tomorrow 20-Sept

A highly range bound session for Indian Equity Benchmark ended on a negative note amid the worries of European debt crisis. Nifty today closed below the 14 Day simple moving average (SMA) of 5,035 and is having a psychological support at 5,000 below it can fall towards 4,976-4,955 while the resistance is there at 5,070 and 5,100-5,130 levels.

Market Trend For Tomorrow 16-Sept

Indian Stock Markets closed with significant gains in highly volatile session today on a positive note ahead of the RBI policy.

On Daily charts, we are observing that RSI and Stochastic are northbound. For the coming session, we can see 5030 as the immediate support and if this is broken, next support is seen at 5000-4960. On higher levels, 5130 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5160-5200. Traders are advised to trade in small quantities and with strict stop-loss.

Nifty Intraday Outlook For Tomorrow 13-Sept

Heavy selling was witnessed in the Indian Stock Markets due to weak global cues and worst IIP data. Indian Benchmark indices opened with an immense gap-down of about 78 points and continued in the red for the whole session. Nifty made a high near the open at 4985.60 and a low at 4911.25 before closing a very volatile session at 4946.80 (2.23% down).

For intraday trading tomorrow, 4912 is the immediate support for Nifty and if this is broken, next support is seen at 4870-4840. On the upside, 4980 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5015-5050. Traders are advised to trade with strict stop-loss and in small quantities.

Nifty Intraday Outlook for Tomorrow 09-Sept

It was successive positive day for Indian Stock Markets. On Nifty daily charts, we are observing that RSI having a value 52.80 is northbound. For intraday trading tomorrow 5,110 is the immediate support for Nifty and if this is broken, next support is seen at 5,080-5,050. While on the upside Nifty could find immediate resistance level at 5200 and any gains above this level may lead Nifty to the 5,240-5,275 levels.

Stock Market Outlook For Tomorrow 08-Sept

It was another good day for Indian Stock Markets. Nifty showed good strength for the third consecutive day and closed above 5,100 levels with sound gains. Global events from USA may play vital role in sentiment preparation for coming trading sessions. On upside Nifty may face some resistance in 5,200-5,250 zone and on downside Nifty also has important support in 5,000-4,950 zone.

For Intraday trading tomorrow, trend deciding level is at 5,125-5,135, if Nifty shows strength above these levels, then rally to 5,170-5,200-5,240 may be seen. On the downside if Nifty fails to show strength above 5,125 levels then selling pressure till 5,080-5,040/5,000 may also be seen.

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Nifty Intraday Outlook For Tomorrow 07-Sept

Indian benchmark indices (Nifty & Sensex) opened gap-down amid the weak global cues. Nifty opened down 24 points at 4993.35 and made a low in the earlier half of the session at 4942.90 after which the bulls got activated and a handsome buying interest in Banks and IT Sectors pulled Nifty back above the 5000 levels. It made a high of 5072.90 and finally closed above a crucial resistance of 5050 levels at 5064.30 (0.94%) in the green.

On Nifty daily charts, we are observing that RSI indicator is currently trading in comfortable zone. For intraday coming tomorrow, 5020 is the immediate support for Nifty and if this is broken, next support is seen at 4975-4940. On higher levels, 5110 is the immediate resistance for Niifty and any gains above these levels are likely to face stiff resistance at 5150-5200.

Nifty Intraday Outlook For Tomorrow 06-Sept

Nifty again managed to close above the crucial level of 5,000 and this is showing some positive outlook for the markets in coming sessions.

For Nifty tomorrow good support exist at 4,950 levels and below this, Nifty can go down to 4,900-4,870 levels. Next trigger for the market will be the outcome of RBI`s monetary policy on 16th September. On the upside, 5055 is the immediate resistance for Nifty and any gains above these levels are likely to face strong resistance at 5090-5140.

Nifty Intraday Outlook For Monday 05-Sept

It was tremendous week, though truncated, week for Indian stock markets which saw the Nifty move up beyond the 5000 mark. Both benchmark indices Nifty and Sensex were up 6.3% and 6.3% respectively. Market sentiments have turned positive and seem bullish for coming trading sessions.

While commenting on Nifty Outlook for Monday it has strong resistance at 5,095-5,140. Any fresh buying position should be initiated above 5060 levels for targeting 5100-5150. On the downside Nifty may find support around 4990-4950 levels.

Nifty Intraday Outlook For Friday 02-Sept

Nifty showed good strength for second consecutive day and closed in green crossing important psychological level of 5,000 with higher volumes. Positive cues from European markets pulled Indian markets. Bulls are having control at the moment. Buying interest may be continuing above 4,980 levels.

For intraday trading, trend deciding level is 4,980-5,000. If Nifty shows strength above these levels, then rally to 5,050-5,100-5,165 may be seen. On the downside if Nifty does not how strength above 4,980 levels then selling pressure till 4,930-4,875-4,820 may also be seen.

Market Trend For Tomorrow 30-Aug

It was a cheerful start for the Indian stock markets. Both benchmark indices (Nifty and Sensex) opened gap up on positive global cues and witnessed early gains for the whole session. Nifty managed to close above a crucial psychological level of 4900 which indicates that market bulls trend in coming sessions.

For intraday trading tomorrow, 4865 is the immediate support for Nifty and if this is broken, next support is seen at 4830-4800. On the upside, 4955 is the immediate resistance for Nifty and any gains above these levels are likely to face strong resistance at 5000-5050.

Markets Outlook For Tomorrow 25-Aug

After two positive sessions markets witnessed again a choppy trend. Nifty continued selling pressure from resistance near 4,950 levels and closed in red with significant loss. Nifty August future expiry due on Thursday therefore volatile movement may be seen in coming trading sessions. Market sentiments may remain weak below 4,950 levels. Nifty is likely to continue trade in 4,800-4,980 zones for next trading.

For intraday tomorrow, the trend deciding level is at 4,900. If Nifty shows strength above this levels, then rally to 4,950-4,980-5,025 may be seen. On the downside if Nifty fails to show strength above 4,900 levels then selling pressure till 4,850-4,815 may also be seen.

Nifty Trend For Tomorrow 24-August

It was another good day for Indian Stock Markts. Both benchmark Index (Nifty and Sensex) opened moderately gap up and closed with smart gains. Positive cues from Europe and Asia spurred on the markets today. The Bulls got activated and pulled the indices to make the high for the day at 4965.80.

On Daily Nifty charts, we are observing that the momentum indicator RSI has reversed from its oversold zone. For next intraday trading session, 4908 is the immediate support for Nifty and if this is broken, next support may be seen at 4870-4845. On higher levels, 4985 may act as the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 5025-5050.

Nifty Intraday Outlook For Tomorrow 09-Aug

On Nifty daily charts, we are observing that the momentum indicator RSI is in the oversold region and likely to recover in coming days. For intraday trading tomorrow, 5050 may act as the immediate support for Nifty and if this is broken on closing basis, then next support may be  seen around at 5000-4960. On the upside, 5150 - 5200 are the immediate resistance for it and any trades above these levels are likely to face stiff resistance at 5250/5320.

Nifty Trend For Tomorrow 05-Aug

Indian Stock Markets Traded same as we said yesterday. Market witnessed selling pressure for yet another day. For coming trading sessions short term trend remains bearish, however after a sell-off of almost 200 points in last four trading days, a consolidation is expected in the range of 5,250-5,400.

Traders and investors are recommended to make buying position on dips. Stock specific approach is recommended in the current scenario. For Intraday tomorrow Nifty could find good support at 5,280-5,250 levels and 5370-5405 may act as immediate resistance levels.

Nifty Intraday outlook for Tomorrow 03-Aug

Nifty remained under pressure throughout the day and hovered around the 5,450 levels. It showed selling pressure from resistance near 5,500 levels and closed in deep red. In coming trading sessions if Nifty trades below 5450 level, then we can see more selling pressure. Immediate resistance for Nifty is seen around at 5,505-5550. In case of further downside, Nifty may find support around 5,375.