Equity Market Tips: Equity Market Weekly Outlook Research Report

NIFTY 50 9788.60 (-175.80) (-1.76%) The domestic equity market once again had a disappointing session on Monday as the benchmark Nifty50 continued its decline and ended with a net loss of 91 points, or 0.92 per cent. Monday’s corrective move has been of a technical nature. If some critical levels are not maintained, the weakness may persist in the market. These corrective activities remain significant given the present texture of the market. On Tuesday, The Indian stock market once again had a disappointing session Nifty50 witnessed a sharp recovery from the low point of the day and recovered nearly 58 points before closing on a flat note. On Wednesday, tumbled for a seventh consecutive session to close below the 9,750 level- a day ahead of the September series futures & options contracts' expiry. On Thursday, Rupee has given breakout of five month high of 65.20 and made a high at 66.13. The Indian equity market had a disappointing session on Wednesday, as the benchmark Nifty50 continued its slide, breaching the important support levels of 100-DMA. It ended the day losing 135.75 points or 1.38%. The market settled with small gains after range bound session of trade as firmness in European stocks supports gains on the domestic bourses. the nifty 50 gained 33.20 points after indices witnessed last seven days of losses.

WE HAD RECOMMENDED ON LAST WEEK RESEARCH REPORT (SEE OUR WEEKLY REPORT 25 SEP 2017 TO 29 SEP 2017) [WE ADVISED TO NIFTY FUTURE SELL BELOW 9975 THAN TARGET WILL BE 9700 OUR TARGET ACHIEVED ON TUESDAY 28/SEP/2017 NIFTY FUTURE MADE LOW AT 9695].

On Friday, Beginning of some pain the market and this is what we witnessed in three subsequent sessions. The relentless fall kept on breaking hopes for the bulls as most of the intermediate supports got violated in this course of action. The market registered strong losses in the last trading session of the week amid geopolitical tensions. the nifty 50 fell -157.50 points or -1.56%, to settle at 9964.40. The benchmark Index Nifty50 (spot) opened the week at 9960.10 made a high of 9960.50 low of 9687.55 and closed the week at 9788.60. Thus the Nifty closed the week with a losing of -175.80 points or -1.76%.

Formations

· The 20 days EMA are placed at 9933.89

· The 5 days EMA are placed at 9827.00

Future Outlook:

The Nifty daily chart is Bearish trend; we advised to Nifty future sell below 9700 than target will be 9650-9550. Nifty upside weekly Resistance is 10121-9961 level. On the downside strong support at 9685-9568.