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Daily Market Outlook –28 January 2020

NIFTY: Since the last week of October 2019, the NIFTY has been moving with strong support in the 11900 area which it repeatedly tests. We have a pattern of a flat support level at 11900 and higher highs. The pattern can be considered to be a rising, inverted triangle, or, simply an inverted ascending triangle…

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Daily Market Outlook –24 January 2020

NIFTY: We are aware that the economy  is going through a difficult phase. We can be sure that the government is also aware of this. The Union budget, which is a statement of the government purpose , is probably the best location to give direction to the economy. Whatever the budget says, we are confident…

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Daily Market Outlook –23 January 2020

NIFTY: The NIFTY opened with an upward gap of 49 points. Prices have quickly moved  down filled the gap and then continued its weak momentum for the whole day. Final closing was at 12106.90 down by 62.95 points. The NIFTY also broke down from a  support zone identified earlier around 12120-12150 zone. We have discussed…

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Daily Market Outlook –21 January 2020

NIFTY: The NIFTY was moving in a narrow range last week. This week  onwards, the index decided to take a trend and this trend is a breakdown from the range. Over the weekend, Q3 results of RELIANCE and HDFC BANK apparently enthused the market. The NIFTY opened higher on Monday morning and actually went to…

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Daily Market Outlook –20 January 2020

NIFTY: The NIFTY had a slow day today, moving almost nowhere throughout the day, eventually closing the market and the week, almost unchanged for the day. We suggested yesterday that the NIFTY may now be entering into a phase of consolidation. Within this narrow range in which the index is now trading, today was a…

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Daily Market Outlook –16 January 2020

  NIFTY: The nifty had an intraday correction of some decent magnitude, when it fell almost 70 points from its close yesterday. Not surprisingly, support cane in almost exactly at the previous lifetime high of 12290. The nifty in fact recorded an intraday low of 12279, almost stopping its decline at the previous life time…

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Daily Market Outlook –15 January 2020

NIFTY: The nifty today staged a remarkable feat, affirming or rather reaffirming its strength by trading completely above the last lifetime new high of 12290. the message was: the index is prepared to leave aside earlier record levels, and go ahead to completely uncharted territory. Now if this sounds bullish, it is supposed to be…