S&P CNX Nifty for the week 14 May 2012 to 18 May 2012

As envisaged in earlier posts, the market tanked to sub 4950 levels. A bounce is expected in the week as the market is in oversold territory. However, it will continue to be weak unless it trades above the 5180 mark conclusively with good volumes. Bargain hunting is advised in key stocks.

S&P CNX Nifty for 7th May 2012 to 11th May 2012.

As envisaged, the INR has weakened a lot and so has the Nifty. Further weakness is expected in the coming week as the bears will continue to hold the market in their sway. 4950 will act as a support.

S&P CNX Nifty for 30th April 2012 to 4th May 2012.

Nifty continued to hover around the 5200 mark through out the week before ending once again at an in-conclusive mark. The technical indicators of the market suggest that the market will continue to remain weak grinding slowly to the 4950 mark. On the flip side, however, if it somehow manages to hold above the  5280 mark conclusively, it may rally up to 5440. The market will remain closed on 1st May 2012. 

S&P CNX Nifty for the week 23 April 2012 to 27 April 2012

The Nifty closed on a very inconclusive note on Friday at 5290.85. The technical indicators are mixed. MACD is suggesting an upside whereas the stochastics are indicating a downslide. 5230 will  be the critical point where both the short term trend lines will converge. This support  will be critical  and decide the immediate term trend for this week is also the triple witching week.

S&P CNX Nifty for the week 16 th April 2012 to 20 th April 2012.

Nifty will have to trade consistently above 5260 in order to resume the bullish trend, otherwise it will continue to drift gradually south towards the crucial support of 4950.

USD-INR technicals.

The outlook on USD-INR continues to be weak. The crucial support is at 51.7610 which if breached will see further weakness leading to flight of capital spiralling into an all out panic in other Capital markets. The immediate resistance is at 50.74 and then 49.6700.

S&P CNX Nifty for 9th April 2012 to 13th April 2012.

The Nifty and the broad market were on bullish mode as Nifty managed to stay above the 5290 mark conclusively. The technicals of the market suggest that market may continue its upward journey to 5440 and beyond if it stays above the 5325 mark for longer period in the first few sessions. The immediate support is at 5285. Stop loss will get triggered around 5220 mark, in which case the market will give up all its recent gains and find support eventually at 4950.